Common use of Qualifications of Registrar; Resignation; Removal Clause in Contracts

Qualifications of Registrar; Resignation; Removal. The Registrar shall be a corporation or association duly organized under the laws of the United States of America or any state or territory thereof, having a combined capital stock, surplus and undivided profits of at least $15,000,000 and authorized by law to perform all the duties imposed upon it by this Indenture. The Registrar may at any time resign and be discharged of the duties and obligations created by this Indenture by giving at least sixty (60) days' notice to the Authority, the Trustee and the Company. The Registrar may be removed at any time, at the direction of the Company, by an instrument signed by the Authority filed with the Registrar and the Trustee. In the event of the resignation or removal of the Registrar, the Registrar shall deliver any Bonds held by it in such capacity to its successor or, if there be no successor, to the Trustee. In the event that the Authority shall fail to appoint a Registrar hereunder, or in the event that the Registrar shall resign or be removed, or be dissolved, or if the property or affairs of the Registrar shall be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, and the Authority shall not have appointed its successor as Registrar, the Trustee shall ipso facto be deemed to be the Registrar for all purposes of this Indenture until the appointment by the Authority of the Registrar or successor Registrar, as the case may be. Upon the appointment of a successor Registrar, the Trustee shall give notice thereof by Mail to all Owners of Bonds.

Qualifications of Registrar; Resignation; Removal. The Registrar shall be a corporation or association duly organized under the laws of the United States of America or any state or territory thereof, having a combined capital stock, surplus and undivided profits of at least $15,000,000 and authorized by law to perform all the duties imposed upon it by this Indenture. The Registrar may at any time resign and be discharged of the duties and obligations created by this Indenture by giving at least sixty (60) days' notice to the AuthorityPollution Control Corporation, the Trustee and the Company. The Registrar may be removed at any time, at the direction of the Company, by an instrument signed by the Authority Pollution Control Corporation filed with the Registrar and the Trustee. In the event of the resignation or removal of the Registrar, the Registrar shall deliver any Bonds held by it in such capacity to its successor or, if there be no successor, to the Trustee. In the event that the Authority Pollution Control Corporation shall fail to appoint a Registrar hereunder, or in the event that the Registrar shall resign or be removed, or be dissolved, or if the property or affairs of the Registrar shall be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, and the Authority Pollution Control Corporation shall not have appointed its successor as Registrar, the Trustee shall ipso facto be deemed to be the Registrar for all purposes of this Indenture until the appointment by the Authority Pollution Control Corporation of the Registrar or successor Registrar, as the case may be. Upon the appointment of a successor Registrar, the Trustee shall give notice thereof by Mail to all Owners of Bonds.

Qualifications of Registrar; Resignation; Removal. The Registrar shall be a corporation or association duly organized under the laws of the United States of America or any state or territory thereof, having a combined capital stock, surplus and undivided profits retained earnings of at least $15,000,000 10,000,000 and authorized by law to perform all the duties imposed upon it by this Indenture. The Registrar may at any time resign and be discharged of the duties and obligations created by this Indenture by giving at least sixty (60) 45 days' notice to the AuthorityIssuer, the Trustee Trustee, the Remarketing Agent and the Company. The Registrar may be removed at any time, at the direction of the Company, time by an instrument signed by the Authority Authorized Company Representative and filed with the Registrar Issuer, the Registrar, the Trustee, and the TrusteeRemarketing Agent. Upon the resignation or removal of the Registrar, the Company shall appoint a new Registrar. In the event of the resignation or removal of the Registrar, the Registrar shall deliver any Bonds held by it in such capacity to its successor or, if there be no successor, to the Trustee. In the event that the Authority Company shall fail to appoint a Registrar hereunder, or in the event that the Registrar shall resign or be removed, or be dissolved, or if the property or affairs of the Registrar shall be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, and the Authority Company shall not have appointed its successor as Registrar, the Trustee shall ipso facto be deemed to be the Registrar -66- Port of Xxxxxx Series 1998A Trust Indenture for all purposes of this Indenture until the appointment by the Authority Company of the Registrar or successor Registrar, as the case may be. Upon the appointment of a successor Registrar, the Trustee shall give notice thereof by Mail to all Owners of Bonds.

Qualifications of Registrar; Resignation; Removal. The Registrar shall be a corporation or association duly organized under the laws of the United States of America or any state or territory thereof, having a combined capital stock, surplus and undivided profits retained earnings of at least $15,000,000 10,000,000 and authorized by law to perform all the duties imposed upon it by this Indenture. The Registrar may at any time resign and be discharged of the duties and obligations created by this Indenture by giving at least sixty (60) 45 days' notice to the AuthorityIssuer, the Trustee Trustee, the Remarketing Agent and the Company. The Registrar may be removed at any time, at the direction of the Company, time by an instrument signed by the Authority Authorized Company Representative and filed with the Registrar Issuer, the Registrar, the Trustee, and the TrusteeRemarketing Agent. Upon the resignation or removal of the Registrar, the Company shall appoint a new Registrar. In the event of the resignation or removal of the Registrar, the Registrar shall deliver any Bonds held by it in such capacity to its successor or, if there be no successor, to the Trustee. In the event that the Authority Company shall fail to appoint a Registrar hereunder, or in the event that the Registrar shall resign or be removed, or be dissolved, or if the property or affairs of the Registrar shall be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, and the Authority Company shall not have appointed its successor as Registrar, the Trustee shall ipso facto be deemed to be the Registrar -66- Forsyth Series 1998A Trust Indenture for all purposes of this Indenture until the appointment by the Authority Company of the Registrar or successor Registrar, as the case may be. Upon the appointment of a successor Registrar, the Trustee shall give notice thereof by Mail to all Owners of Bonds.

Qualifications of Registrar; Resignation; Removal. The Registrar shall be a corporation or association duly organized under the laws of the United States of America or any state or territory thereof, having a combined capital stock, surplus and undivided profits retained earnings of at least $15,000,000 10,000,000 and authorized by law to perform all the duties imposed upon it by this Indenture. The Registrar may at any time resign and be discharged of the duties and obligations created by this Indenture by giving at least sixty (60) 30 days' ’ notice to the AuthorityIssuer, the Trustee and the Company. The Registrar may be removed at any time, at the direction of the Company, time by an instrument signed by the Authority Authorized Company Representative and filed with the Issuer, the Registrar and the Trustee. Upon the resignation or removal of the Registrar, the Company shall appoint a new Registrar. The Registrar shall have no liability for any action or inaction of any successor Registrar. In the event of the resignation or removal of the Registrar, the Registrar shall deliver any Bonds held by it in such capacity to its successor or, if there be no successor, to the Trustee. In the event that the Authority Company shall fail to appoint a Registrar hereunder, or in the event that the Registrar shall resign or be removed, or be dissolved, or if the property or affairs of the Registrar shall be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, and the Authority Company shall not have appointed its successor as Registrar, the Trustee shall ipso facto be deemed to be the Registrar for all purposes of this Indenture until the appointment by the Authority Company of the Registrar or successor Registrar, as the case may be. Upon the appointment of a successor Registrar, the Trustee shall give notice thereof by Mail to all Owners of Bonds.

Qualifications of Registrar; Resignation; Removal. The Registrar shall be a corporation or association duly organized under the laws of the United States of America or any state or territory thereof, having a combined capital stock, surplus and undivided profits retained earnings of at least $15,000,000 10,000,000 and authorized by law to perform all the duties imposed upon it by this Indenture. The Registrar may at any time resign and be discharged of the duties and obligations created by this Indenture by giving at least sixty (60) 30 days' ’ notice to the Authority, the Trustee and the Company. The Registrar may be removed at any time, at the direction of the Company, time by an instrument signed by the Authority Authorized Company Representative and filed with the Authority, the Registrar and the Trustee. Upon the resignation or removal of the Registrar, the Company shall appoint a new Registrar. The Registrar shall have no liability for any action or inaction of any successor Registrar. In the event of the resignation or removal of the Registrar, the Registrar shall deliver any Bonds held by it in such capacity to its successor or, if there be no successor, to the Trustee. In the event that the Authority Company shall fail to appoint a Registrar hereunder, or in the event that the Registrar shall resign or be removed, or be dissolved, or if the property or affairs of the Registrar shall be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, and the Authority Company shall not have appointed its successor as Registrar, the Trustee shall ipso facto be deemed to be the Registrar for all purposes of this Indenture until the appointment by the Authority Company of the Registrar or successor Registrar, as the case may be. Upon the appointment of a successor Registrar, the Trustee shall give notice thereof by Mail to all Owners of Bonds.

Qualifications of Registrar; Resignation; Removal. The Registrar shall be a corporation or association duly organized under the laws of the United States of America or any state or territory thereof, having a combined capital stock, surplus and undivided profits retained earnings of at least $15,000,000 10,000,000 and authorized by law to perform all the duties imposed upon it by this Indenture. The Registrar may at any time resign and be discharged of the duties and obligations created by this Indenture by giving at least sixty (60) 45 days' ’ notice to the AuthorityIssuer, the Trustee and the Company. The Registrar may be removed at any time, at the direction of the Company, time by an instrument signed by the Authority Authorized Company Representative and filed with the Issuer, the Registrar and the Trustee. Upon the resignation or removal of the Registrar, the Company shall appoint a new Registrar. In the event of the resignation or removal of the Registrar, the Registrar shall deliver any Bonds held by it in such capacity to its successor or, if there be no successor, to the Trustee. In the event that the Authority Company shall fail to appoint a Registrar hereunder, or in the event that the Registrar shall resign or be removed, or be dissolved, or if the property or affairs of the Registrar shall be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, and the Authority Company shall not have appointed its successor as Registrar, the Trustee shall ipso facto be deemed to be the Registrar for all purposes of this Indenture until the appointment by the Authority Company of the Registrar or successor Registrar, as the case may be. Upon the appointment of a successor Registrar, the Trustee shall give notice thereof by Mail to all Owners of Bonds.