Removal by Issuer. The Issuer must remove the Indenture Trustee and terminate its rights and obligations under this Indenture if: (i) the Indenture Trustee fails to comply with the eligibility requirements in Section 6.11(a); (ii) the Indenture Trustee becomes legally unable to act or incapable of acting as Indenture Trustee; or (iii) an Insolvency Event for the Indenture Trustee occurs.
Appears in 91 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2024-D), Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Owner Trust 2024-C)
Removal by Issuer. The Issuer must remove the Indenture Trustee and terminate its rights and obligations under this Indenture if:
(i) the Indenture Trustee fails to comply with the eligibility requirements in Section 6.11(a)6.11;
(ii) the Indenture Trustee becomes legally unable to act or incapable of acting as Indenture Trustee; or
(iii) an Insolvency Event for the Indenture Trustee occurs.
Appears in 23 contracts
Samples: Omnibus Amendment (Verizon Owner Trust 2020-C), Omnibus Amendment (Verizon Owner Trust 2020-A), Transfer and Servicing Agreement (Verizon Owner Trust 2020-B)
Removal by Issuer. The Issuer must remove the Indenture Trustee and terminate its rights and obligations under this Indenture if:
(i) the Indenture Trustee fails to comply with the eligibility requirements in Section 6.11(a);
(ii) the Indenture Trustee becomes legally unable to act or incapable of acting as Indenture Trustee; or
(iii) an Insolvency Event for the Indenture Trustee occurs.
Appears in 5 contracts
Samples: Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two LLC)
