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:
(a) that resignation;
(b) the appointment of a successor security agent and trustee in compliance with clause 25.1 but so that, for this purpose, the reference in clause 25.1.3 to the Security Trustee shall be deemed to be a reference to the Majority Lenders; and
(c) the transfer of the rights and obligations of the Security Trustee under this Agreement to that successor, in each case, in a legal, valid and binding manner. The retiring Security Trustee shall not be responsible for any costs occasioned by that retirement (including in relation to any such deeds or documents referred to in this clause 25.2).
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.
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.
13.2.2 The Secured Creditors of all Outstanding Series of Loan Notes may at any time by direction signed by all the Secured Creditors (other than the Security Trustee) in writing addressed to the Security Trustee and the Loan Note Issuer remove the Security Trustee and shall do so by giving written notice thereof to the Security Trustee and the Loan Note Issuer, such notice to contain a direction to the Loan Note Issuer as to which person to appoint as a successor Security Trustee. Upon receiving such notice, the Loan Note Issuer shall be vested with the power to appoint such successor Security Trustee and shall promptly make such appointment 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 being removed and one copy to the successor Security Trustee.
Removal of Security Trustee. The Majority Beneficiaries may at any time by notice in writing to the Borrower and the Security Trustee remove the Security Trustee for the time being under this Deed and appoint a successor. The removal of a Security Trustee shall not become effective unless there remains a Security Trustee in office after such removal. The Security Trustee shall notify each Beneficiary Representative and each Unrepresented Beneficiary of its removal and/or the appointment (after consultation with the Borrower) of a new Security Trustee.
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.
11.3.2 The Secured Creditors of all outstanding Series may at any time by direction signed by all the Secured Creditors in writing addressed to the Security Trustee and the Loan Note Issuer remove the Security Trustee and shall do so by giving written notice thereof to the Security Trustee. Upon such notice of removal being given, the Loan Note Issuer shall be vested with the power to appoint a successor Security Trustee and shall promptly appoint such 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 being removed and one copy to the successor Security Trustee.
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.
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.
Removal of Security Trustee. The Security Trustee may be removed from being trustee of the Security Trust at any time:
(a) by the Administrative Agent giving to the Security Trustee at least 30 days notice to that effect; and
(b) except where an Event of Default is continuing or the removal of the Security Trustee is due to the Security Trustee's fraud, gross negligence or wilful default, with the agreement of the Borrower, which agreement must not be unreasonably withheld or delayed.
