Removal of Security Trustee Sample Clauses

Removal of Security Trustee. The Security Trustee may be removed at any time, for or without cause, by an instrument or instruments in writing executed by the holders of a majority of the Aggregate Principal Amount of the Outstanding Notes and delivered to the Security Trustee with a copy to the Company, specifying the removal and the date when it shall take effect provided, however, that no such removal shall be effective hereunder unless and until a successor security trustee shall have been appointed and shall have accepted such appointment as provided in SS.SS.8.8 and 8.9. .SECTION 8.8.
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Removal of Security Trustee. The Majority Lenders (or, if the Secured Loan Obligations have been paid and discharged in full, the Lessees) may at any time require the Security Trustee to retire from its appointment as Security Trustee with respect to the Trust Property under this Agreement and the other Transaction Documents without giving any reason upon giving to the Security Trustee, each Borrower, each Lessee and debis not less than thirty (30) days’ prior written notice to that effect. The Security Trustee agrees to co-operate in giving effect to that retirement in accordance with any such notice duly received by it and, in that connection, shall execute all such deeds and documents as either Agent may reasonably require in order to provide for:
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Removal of Security Trustee. 13.2.1 If at any time the Security Trustee shall be legally unable to act, or shall be adjudged insolvent, or a receiver of the Security Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Security Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Loan Note Issuer shall notify the Loan Note Holders of each Series of Loan Notes and such Loan Note Holders shall instruct the Loan Note Issuer by way of a Term Series Direction, in respect of each Term Series of Loan Notes, or a VFN Series Direction, in respect of each VFN Series of Loan Notes, in each case in accordance with the provisions of the Loan Note Supplement for each relevant Series and this Deed, whether to remove the Security Trustee and, if so, shall direct the Loan Note Issuer as to which person to appoint as a successor Security Trustee. The Loan Note Issuer shall, upon receiving such direction, promptly appoint any successor specified therein as successor Security Trustee as detailed in Clause 13.4 (Successor Security Trustee) by written instrument, in duplicate, one copy of which instrument shall be delivered to the Security Trustee so removed and one copy to the successor Security Trustee.
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Removal of Security Trustee. The Security Trustee may be removed from being trustee of the Security Trust at any time:
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Removal of Security Trustee. The Facility Majority Senior Lenders may at any time require the Security Trustee to retire from its appointment as Security Trustee with respect to all of the trusts constituted and evidenced by this Agreement without giving any reason upon having given to the Security Trustee and each Borrower not less than thirty (30) days’ prior written notice to such effect. The Security Trustee agrees to co-operate in giving effect to such resignation in accordance with any such notice duly received by it and, in such connection, shall execute all such deeds and documents as the Facility Agent may reasonably require in order to provide for (a) such resignation, (b) the appointment of a successor security trustee and trustee in accordance with Clause 25.19 (Retirement of Security Trustee) and (c) the transfer of the rights and obligations of the Security Trustee under this Agreement to such successor, in each case in a legal, valid and binding manner. The Lenders agree that any costs associated with such removal (including in relation to any such deeds or documents previously referred to in this Clause 25.20) shall be borne by the Lenders rateably in accordance with their respective liabilities.
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Removal of Security Trustee. Either Note Trustee may, by notice to the Security Trustee, require the Security Trustee to resign in accordance with Clause 15.2 (Resignation of Security Trustee and Appointment of Successor). Upon receipt of any such notice from such Note Trustee the Security Trustee shall resign in accordance with Clause 15.2 (Resignation of Security Trustee and Appointment of Successor) and, for the avoidance of doubt, the provisions of Clauses 15.3 (Actions by Outgoing Security Trustee) to 15.6 (Release of Outgoing Security Trustee) shall apply accordingly.
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Removal of Security Trustee. 11.3.1 If at any time the Security Trustee shall be legally unable to act, or shall be adjudged insolvent, or a receiver of the Security Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Security Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Loan Note Issuer may, but shall not be required to, remove the Security Trustee and promptly appoint a successor Security Trustee as detailed in Clause 11.5 (Successor Security Trustee) by written instrument, in duplicate, one copy of which instrument shall be delivered to the Security Trustee so removed and one copy to the successor Security Trustee.
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Related to Removal of Security Trustee

  • Enforcement of Security On and at any time after the occurrence of an Event of Default the Security Agent may, and shall if so directed by the Majority Lenders and the Export Credit Agency, take any action which, as a result of the Event of Default or any notice served under Clause 26.21 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.

  • Confirmation of Security Borrower hereby confirms and agrees that all of the Collateral Documents that presently secure the Obligations shall continue to secure, in the same manner and to the same extent provided therein, the payment and performance of the Obligations as described in the Original Credit Agreement as modified by this Amendment.

  • Perfection of Security The Borrower must (at its own cost) take any action and enter into and deliver any document which is required by the Lender so that a Security Document provides for effective and perfected security in favor of any successor of the Lender, including (but not limited to), promptly after the date hereof:

  • Rights of Secured Party Secured Party shall have the rights contained in this Section at all times during the period of time this Agreement is effective.

  • Reaffirmation of Security Interest The Borrower hereby reaffirms as of the date hereof each and every security interest and Lien granted in favor of the Security Agent and the Banks under the Loan Documents, and agrees and acknowledges that such security interests and Liens shall continue from and after the date hereof and shall remain in full force and effect from and after the date hereof, in each case after giving effect to the Credit Agreement as amended by this Amendment, and the Obligations secured thereby and thereunder shall include the Borrower’s obligations under the Credit Agreement as amended by this Amendment. Each such reaffirmed security interest and Lien remains and shall continue to remain in full force and effect and is hereby in all respects ratified and confirmed.

  • Notice of Security Interest Reference is made to the Second Amended and Restated Credit and Security Agreement, dated as of January 24, 2018 (as the same may be further amended, restated, supplemented or otherwise modified from time to time, the “Credit and Security Agreement”), and the Exchange Note Supplement dated as of , 20 (the “ Exchange Note Supplement”), each among ACAR Leasing Ltd., as Borrower, AmeriCredit Financial Services, Inc. (“AmeriCredit”), as Lender and Servicer, and Xxxxx Fargo Bank, National Association, as Administrative Agent and as Collateral Agent. Pursuant to Section 4.3 of the Credit and Security Agreement, notice is hereby given that (i) the Exchange Note issued pursuant to the Credit and Security Agreement and the Exchange Note Supplement on , 20 (the “ Exchange Note”) was [transferred]/[pledged] by as the [initial] Exchange Noteholder of the Exchange Note to the undersigned (the [”Transferee”]/[”Pledgee”]) on , 20 (the “Transfer Date”), and (ii) the security interest in the Collateral allocated to the Designated Pool was assigned by to the [Transferee]/[Pledgee] on the Transfer Date. Capitalized terms used herein that are not otherwise defined shall have the meanings ascribed thereto in the Credit and Security Agreement and the Exchange Note Supplement. Very truly yours, [Name of Transferee] By: Name: APPENDIX A To the Second Amended and Restated Credit and Security Agreement DEFINITIONS

  • Maintenance of Security Interest (a) Such U.S. Pledgor shall maintain the security interest created by this Agreement in such U.S. Pledgor’s Pledged Collateral as a security interest having at least the perfection and priority described in subsection 4.3.4 or subsection 4.3.5, as applicable and shall defend such security interest against the claims and demands of all Persons whomsoever. At any time and from time to time, upon the written request of the ABL Collateral Agent and at the sole expense of such U.S. Pledgor, such U.S. Pledgor will promptly and duly execute and deliver such further instruments and documents and take such further actions as the ABL Collateral Agent may reasonably request for the purpose of obtaining or preserving the full benefits of this Agreement and of the rights and powers herein granted by such U.S. Pledgor; provided, that notwithstanding any other provision of this Agreement or any other Loan Documents, neither the Parent Borrower nor any other U.S. Pledgor will be required to (i) take any action in any jurisdiction other than the United States of America, or required by the laws of any such non-U.S. jurisdiction, or enter into any security agreement or pledge agreement governed by the laws of any such non-U.S. jurisdiction, in order to create any security interests (or other Liens) in assets located or titled outside of the United States of America or to perfect any security interests (or other Liens) in any Collateral, (ii) deliver control agreements with respect to, or confer perfection by “control” over, any deposit accounts, bank or securities account or other Collateral, except (A) as required by subsection 4.16 of the ABL Credit Agreement and (B) in the case of Security Collateral that constitutes Capital Stock or Pledged Notes in certificated form, delivering such Capital Stock or Pledged Notes to the ABL Collateral Agent (or another Person as required under any applicable Intercreditor Agreement), (iii) take any action in order to perfect any security interests in any assets specifically requiring perfection through control (including cash, cash equivalents, deposit accounts or securities accounts) constituting Excluded Assets (except, in each case, to the extent consisting of proceeds perfected by the filing of a financing statement under the Code or, in the case of Pledged Stock, by being held by the ABL Collateral Agent or an Additional Agent as agent for the ABL Collateral Agent), (iv) deliver landlord lien waivers, estoppels or collateral access letters or (v) file any fixture filing with respect to any security interest in Fixtures affixed to or attached to any real property constituting Excluded Assets.

  • Protection of Security Interest With respect to the Collateral Portfolio acquired by the Borrower, the Borrower will (i) acquire such Collateral Portfolio pursuant to and in accordance with the terms of the Contribution Agreement, (ii) at the expense of the Servicer, on behalf of the Borrower take all action necessary to perfect, protect and more fully evidence the Borrower’s ownership of such Collateral Portfolio free and clear of any Lien other than the Lien created hereunder and Permitted Liens, including, without limitation, (a) with respect to the Loan Assets and that portion of the Collateral Portfolio in which a security interest may be perfected by filing, filing and maintaining (at the expense of the Servicer, on behalf of the Borrower) effective financing statements against the Transferor in all necessary or appropriate filing offices, (including any amendments thereto or assignments thereof) and filing continuation statements, amendments or assignments with respect thereto in such filing offices, (including any amendments thereto or assignments thereof) and (b) executing or causing to be executed such other instruments or notices as may be necessary or appropriate, (iii) at the expense of the Servicer, on behalf of the Borrower, take all action necessary to cause a valid, subsisting and enforceable first priority perfected security interest, subject only to Permitted Liens, to exist in favor of the Collateral Agent (for the benefit of the Secured Parties) in the Borrower’s interests in all of the Collateral Portfolio being Pledged hereunder including the filing of a UCC financing statement in the applicable jurisdiction adequately describing the Collateral Portfolio (which may include an “all asset” filing), and naming the Borrower as debtor and the Collateral Agent as the secured party, and filing continuation statements, amendments or assignments with respect thereto in such filing offices (including any amendments thereto or assignments thereof), (iv) permit the Administrative Agent or its agents or representatives to visit the offices of the Borrower during normal office hours and upon reasonable advance notice examine and make copies of all documents, books, records and other information concerning the Collateral Portfolio and discuss matters related thereto with any of the officers or employees of the Borrower having knowledge of such matters, and (v) take all additional action that the Administrative Agent or the Collateral Agent may reasonably request to perfect, protect and more fully evidence the respective first priority perfected security interests of the parties to this Agreement in the Collateral Portfolio, or to enable the Administrative Agent or the Collateral Agent to exercise or enforce any of their respective rights hereunder.

  • Maintenance of Security Interests The Borrower will:

  • Appointment and Powers of Secured Party The Debtor hereby irrevocably constitutes and appoints the Secured Party and any officer or agent thereof, with full power of substitution, as its true and lawful attorneys-in-fact with full irrevocable power and authority in the place and stead of the Debtor or in the Secured Party's own name, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate action and to execute any and all documents and instruments that may be necessary or useful to accomplish the purposes of this Agreement and, without limiting the generality of the foregoing, hereby gives said attorneys the power and right, on behalf of the Debtor, without notice to or assent by the Debtor, to do the following:

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