Common use of Obligations Upon Resignation or Removal Clause in Contracts

Obligations Upon Resignation or Removal. Following the resignation or removal of the Trustee and subject to its rights hereunder, the Trustee: (a) shall continue to hold in trust the: (i) Fund; and (ii) all documents, information, and books and records created, received or maintained by the Trustee which relate to or arise or have arisen in connection with the performance by the Trustee of its duties hereunder (collectively with the Fund, the “Fund Property”); (b) upon receipt of payment for any outstanding amount for its services and expenses then unpaid, shall transfer, deliver and pay over to the successor trustee, the Fund and all Fund Property on deposit with or in the possession of the Trustee; and (c) shall have no duties, responsibilities or liability with respect to the acts or omissions of the successor trustee. The successor Trustee shall, in its capacity as Trustee, take title to the Fund and possession of the Fund Property, secure the same and receive all accretions to the Fund (including contributions), and shall have no duties, responsibilities or liability with respect to the acts or omissions of any predecessor Trustee and shall hold and invest the Fund and be subject to all duties applicable to, and have all powers of, the Trustee under this Agreement.

Obligations Upon Resignation or Removal. Following the resignation or removal of the a Trustee and subject to its rights hereunder, the Trustee: (a) shall continue to hold in trust the: (i) Fund; the Fund and (ii) all documents, information, and books and records created, received or maintained by the Trustee which relate to or arise or have arisen in connection with the performance by the Trustee of its duties hereunder (collectively with the Fund, hereinafter referred to as the “Fund Property”); (b) upon receipt of payment for any outstanding amount for its services and expenses then unpaid, shall transfer, deliver and pay over to the successor trusteeTrustee, the Fund and all Fund Property on deposit with or in the possession of the Trustee; and (c) shall have no duties, responsibilities or liability with respect to the acts or omissions of the successor trusteeTrustee. The successor Trustee shall, in its capacity as Trustee, shall take title to the Fund and possession of all assets deposited with the Fund Propertypredecessor Trustee, and shall secure the same same, shall be entitled to call for and receive all accretions to the Fund (including contributions)contributions that are due, and shall have no duties, responsibilities or liability with respect to the acts or omissions of any the predecessor Trustee and shall hold and invest the Fund and be subject to all duties applicable to, and have all powers of, the Trustee under this AgreementTrustee.

Obligations Upon Resignation or Removal. Following the resignation or removal of the thea Trustee and subject to its rights hereunder, the Trustee: (a) shall continue to hold in trust the: (i) Fund; the Fund and (ii) all documents, information, and books and records created, received or maintained by the Trustee which relate to or arise or have arisen in connection with the performance by the Trustee of its duties hereunder (collectively with the Fund, hereinafter referred to as the “Fund Property”); (b) upon receipt of payment for any outstanding amount for its services and expenses then unpaid, shall transfer, deliver and pay over to the successor trusteetrusteeTrustee, the Fund and all Fund Property on deposit with or in the possession of the Trustee; and (c) shall have no duties, responsibilities or liability with respect to the acts or omissions of the successor trusteetrusteeTrustee. The successor Trustee shall, in its capacity as Trustee, shall take title to the Fund and possession of all assets deposited with the Fund Propertypredecessor Trustee, and shall secure the same same, shall be entitled to call for and receive all accretions to the Fund (including contributions)contributions that are due, and shall have no duties, responsibilities or liability with respect to the acts or omissions of any the predecessor Trustee and shall hold and invest the Fund and be subject to all duties applicable to, and have all powers of, the Trustee under this AgreementTrustee.