Common use of Method and Procedure Clause in Contracts

Method and Procedure. (a) Trustee may resign at any time by delivering to the Company a written notice of resignation, to take effect on a date specified therein, which shall be not less than 30 days after the delivery thereof, unless such notice shall be waived. (b) The Company may remove Trustee at any time by delivering to Trustee a written notice of removal, to take effect on a date specified therein, which shall be not less than 30 days after the delivery thereof, unless such notice shall be waived. (c) In case of the resignation or removal of Trustee, Trustee shall have a right to a settlement of its accounts, which may be made, at the option of Trustee, either (1) by a judicial settlement in an action instituted by Trustee in a court of competent jurisdiction, or (2) by an agreement of settlement between Trustee and the Company. (d) Upon such settlement, all right, title and interest of such Trustee in the assets of the Trust, and all rights and privileges under the Trust theretofore vested in such Trustee shall vest in the successor Trustee, and thereupon all liabilities of such Trustee shall terminate; provided, however, that Trustee shall execute, acknowledge and deliver all documents and written instruments which are necessary to transfer and convey all the right, title and interest in the assets of the Trust, and all rights and privileges in the Trust to the successor Trustee. (e) The Company, upon receipt of or giving notice of the resignation or removal of Trustee, shall promptly appoint a successor Trustee. The successor Trustee shall be a bank or trust company qualified and authorized to do trust business in the State of California and having on the date of appointment total assets of at least $10,000,000 and a credit rating from Xxxxx'x of A or better. In the event of the failure or refusal of the Company to appoint such a successor Trustee within 30 days after the notice of resignation or removal, Trustee may secure, at the expense of the Company, the appointment of such successor Trustee by an appropriate action in a court of competent jurisdiction. Any successor Trustee so appointed may qualify by executing and delivering to the Company an instrument accepting such appointment and, upon delivery, such successor, without further act, shall become vested with all the right, title and interest, and all rights and privileges of the predecessor Trustee with like effect as if originally named as Trustee herein.

Method and Procedure. (a) Trustee may resign at any time by delivering to the Company a written notice of resignation, to take effect on a date specified therein, which shall be not less than 30 sixty (60) days after the delivery thereof, unless such notice shall be waived. (b) The Company may remove Trustee at any time by delivering to Trustee a written notice of removal, to take effect on a date specified therein, which shall be not less than 30 thirty (30) days after the delivery thereof, unless such notice shall be waived. (c) In case of the resignation or removal of Trustee, Trustee shall have a right to a settlement of its accounts, which may be made, at the option of Trustee, either (1) by a judicial settlement in an action instituted by Trustee in a court of competent jurisdiction, or (2) by an agreement of settlement between Trustee and the Company. (d) Upon such settlement, all right, title and interest of such Trustee in the assets of the Trust, and all rights and privileges under the Trust theretofore vested in such Trustee shall vest in the successor Trustee, and thereupon all liabilities of such Trustee shall terminate; provided, however, that Trustee shall execute, acknowledge and deliver all documents and written instruments which are necessary to transfer and convey all the right, title and interest in the assets of the Trust, and all rights and privileges in the Trust to the successor Trustee. (e) The Company, upon receipt of or giving notice of the resignation or removal of Trustee, shall promptly appoint a successor Trustee. The successor Trustee shall be a bank or trust company qualified and authorized to do trust business in the State of California any state and having on the date of appointment total assets of at least $10,000,000 and a credit rating from Xxxxx'x Moody's of A or better. In the event of the failure or refusal of refuxxx xx the Company to appoint such a successor Trustee within 30 thirty (30) days after the notice of resignation or removal, Trustee may secure, at the expense of the Company, the appointment of such successor Trustee by an appropriate action in a court of competent jurisdiction. Any successor Trustee so appointed may qualify by executing and delivering to the Company an instrument accepting such appointment and, upon delivery, such successor, without further act, shall become vested with all the right, title and interest, and all rights and privileges of the predecessor Trustee with like effect as if originally named as Trustee herein.

Method and Procedure. (a) The Trustee may resign at any time by delivering to the Company a written notice of resignation, to take effect on at a date specified therein, which shall not be not less than 30 60 days after the delivery thereof, unless such notice shall be waived. (b) . The Company may shall have the right to remove the Trustee at any time by delivering to Trustee delivery of a written notice of removal, removal to take effect on at a date specified therein, which shall be not take effect less than 30 60 days after the delivery thereof, unless such notice shall be waived. (c) . In case the event the Trustee notifies the Company of its intention to resign, or the Company removes the Trustee, in accordance with the foregoing provisions of the Article VIII, the Company, by resolution of its Board of Directors, shall appoint a successor-trustee and in default thereof, such successor-trustee may be appointed by a court of competent jurisdiction. The Trustee hereunder shall thereupon deliver to the successor-trustee all property of this Trust Fund, together with such records as may be reasonably required to enable the successor-trustee to property administer the Trust. In the cases of its resignation or removal of Trusteeremoval, the Trustee shall have a the right to a settlement of its accountsaccount, which may be made, at the option of the Trustee, either (1) by agreement of settlement between the Trustee and the Company, including payments by the Company to the Trustee pursuant to the provisions of section 4.2 hereof, or (2) at the expense of the Trust (other than legal fees incurred by the Trustee) by a judicial settlement statement in an action instituted by the Trustee in a court of competent jurisdiction, or (2) by an agreement of settlement between Trustee and the Company. (d) . Upon such settlement, all right, title and interest of such Trustee in the assets of the Trust, Trust and all rights and privileges under the Trust this Agreement theretofore vested in such Trustee shall vest in the successor Trusteetrustee where applicable, and thereupon all liabilities future liability of such Trustee shall terminate; provided, however, that the Trustee shall execute, acknowledge and deliver all documents and written instruments which are necessary to transfer and convey all the right, title and interest in the assets of the TrustTrust assets, and all rights and privileges in the Trust privileges, to the successor Trusteetrustee. (e) The Company, upon receipt of or giving notice of the resignation or removal of Trustee, shall promptly appoint a successor Trustee. The successor Trustee shall be a bank or trust company qualified and authorized to do trust business in the State of California and having on the date of appointment total assets of at least $10,000,000 and a credit rating from Xxxxx'x of A or better. In the event of the failure or refusal of the Company to appoint such a successor Trustee within 30 days after the notice of resignation or removal, Trustee may secure, at the expense of the Company, the appointment of such successor Trustee by an appropriate action in a court of competent jurisdiction. Any successor Trustee so appointed may qualify by executing and delivering to the Company an instrument accepting such appointment and, upon delivery, such successor, without further act, shall become vested with all the right, title and interest, and all rights and privileges of the predecessor Trustee with like effect as if originally named as Trustee herein.