Common use of Removal of the Trustee Clause in Contracts

Removal of the Trustee. The Trustee may be removed at any time by the Issuer or the Company (provided the Company is not in default under the Agreement), or by an instrument or concurrent instruments in writing delivered to the Trustee, the Company and to the Issuer and signed by the Owners of at least a majority in aggregate principal amount of Outstanding Bonds. Such removal shall not take effect until (i) the appointment and acceptance of a successor Trustee or temporary Trustee and the transfer to said successor or temporary Trustee of the Credit Facility and (ii) payment in full of all fees and expenses and other amounts payable to the Trustee pursuant thereto or to the Agreement.

Removal of the Trustee. The Trustee may be removed at any time by the Issuer or the Company (provided the Company is not in default under the Agreement), or by an instrument or concurrent instruments in writing delivered to the Trustee, the Company and to the Issuer and signed by the Owners of at least a majority in aggregate principal amount of Outstanding Bonds. Such removal shall not take effect until (i) the appointment and acceptance of a successor Trustee or temporary Trustee and the transfer to said successor or temporary Trustee of the Credit Facility Facility, and (ii) payment in full of all fees and expenses and other amounts payable to the Trustee pursuant thereto or to the Agreement.