Common use of Removal for Cause Clause in Contracts

Removal for Cause. The Administrator will, if any of the following events occurs and is continuing, remove a Co-Trustee and terminate its rights and obligations under this Agreement by notifying the Co-Trustee: (i) the Co-Trustee no longer meets the applicable eligibility requirements in Section 9.1; (ii) the Co-Trustee is legally unable to act as Owner Trustee or Delaware Trustee, as applicable; or (iii) an Insolvency Event of the Co-Trustee occurs.

Removal for Cause. The Administrator will, if any of the following events occurs and is continuing, remove a Co-Trustee and terminate its rights and obligations under this Agreement by notifying the Co-Trustee: (i) the Co-Trustee no longer meets the applicable eligibility requirements in Section 9.1; (ii) the Co-Trustee is legally unable to act as Owner Trustee [or Delaware Trustee, as applicable]; or (iii) an Insolvency Event of the Co-Trustee occurs.