Common use of Removal of Trustee for Cause Clause in Contracts

Removal of Trustee for Cause. (a) Prior to a Guarantor Event of Default or if a Guarantor Event of Default has occurred and has been cured with respect to a Trust, Xxxxxx Xxx cannot be removed as Trustee with respect to that Trust. If a Guarantor Event of Default has occurred and is continuing while Xxxxxx Mae is the Trustee, at the direction of Holders representing at least 51% of the Voting Rights of the related Trust (determined in accordance with Section 14.1), Xxxxxx Xxx will resign or be removed as the Trustee, and, to the extent permitted by law, all of the rights and obligations of the Trustee with respect to the related Trust only will be terminated by notifying the Trustee in writing. Holders representing at least 51% of the Voting Rights of the related Trust will then be authorized to name and appoint one or more successor Trustees. Notwithstanding the termination of the Trustee, its liability under the Trust Documents arising prior to such termination will survive such termination.

Removal of Trustee for Cause. (ai) Prior to a Guarantor Event of Default or if a Guarantor Event of Default has occurred and has been cured with respect to a Trust, Xxxxxx Xxx cannot be removed as Trustee with respect to that Trust. If a Guarantor Event of Default has occurred and is continuing while Xxxxxx Mae is the Trustee, at the direction of Holders of Certificates of any related Trust representing at least 51% of the Voting Rights of the related Trust (determined in accordance with Section 14.1)Issue, Xxxxxx Xxx will resign or be removed as the Trustee, and, to the extent permitted by law, all of the rights and obligations of the Trustee with respect to the related Trust only will be terminated by notifying the Trustee in writing. The Holders representing at least 51% of providing the Voting Rights of the related Trust direction referenced above will then be authorized to name and appoint one or more successor Trustees. Notwithstanding the termination of the Trustee, its liability under the Trust Documents arising prior to such termination will survive such termination.

Removal of Trustee for Cause. (a) Prior to a Guarantor Event of Default or if a Guarantor Event of Default has occurred and has been cured with respect to a Trust, Xxxxxx Xxx cannot be removed as Trustee with respect to that Trust. If a Guarantor Event of Default has occurred and is continuing while Xxxxxx Mae Xxx is the Trustee, at the direction of Holders representing at least 51% of the Voting Rights of the related Trust (determined in accordance with Section 14.1), Xxxxxx Xxx will resign or be removed as the Trustee, and, to the extent permitted by law, all of the rights and obligations of the Trustee with respect to the related Trust only will be terminated by notifying the Trustee in writing. Holders representing at least 51% of the Voting Rights of the related Trust will then be authorized to name and appoint one or more successor Trustees. Notwithstanding the termination of the Trustee, its liability under the Trust Documents arising prior to such termination will survive such termination.

Removal of Trustee for Cause. (ai) Prior to a Guarantor Event of Default or if a Guarantor Event of Default has occurred and has been cured with respect to a Trust, Xxxxxx Xxx cannot be removed as Trustee with respect to that Trust. If a Guarantor Event of Default with respect to a Series has occurred and is continuing while Xxxxxx Mae is the Trustee, at the direction of Holders of Certificates of any Class of that Series representing at least 51% of the Voting Rights of the related Trust (determined in accordance with Section 14.1)such Class, Xxxxxx Xxx will resign or be removed as the Trustee, and, to the extent permitted by law, all of the rights and obligations of the Trustee with respect to the related Trust Series only will be terminated by notifying the Trustee in writing. The Holders representing at least 51% of providing the Voting Rights of the related Trust direction referenced above will then be authorized to name and appoint one or more successor Trustees. Notwithstanding the termination of the Trustee, its liability under the Trust Documents arising prior to such termination will survive such termination.

Removal of Trustee for Cause. (ai) Prior to a Guarantor Event of Default or if a Guarantor Event of Default has occurred and has been cured with respect to a Trust, Xxxxxx Xxx cannot be removed as Trustee with respect to that Trust. If a Guarantor Event of Default has occurred and is continuing while Xxxxxx Mae is the Trustee, at the direction of Holders of Certificates of any related Series representing at least 51% of the Voting Rights of the related Trust (determined in accordance with Section 14.1)such Series, Xxxxxx Xxx will resign or be removed as the Trustee, and, to the extent permitted by law, all of the rights and obligations of the Trustee with respect to the related Trust only will be terminated by notifying the Trustee in writing. The Holders representing at least 51% of providing the Voting Rights of the related Trust direction referenced above will then be authorized to name and appoint one or more successor Trustees. Notwithstanding the termination of the Trustee, its liability under the Trust Documents arising prior to such termination will survive such termination.

Removal of Trustee for Cause. (ai) Prior to a Guarantor Event of Default or if a Guarantor Event of Default has occurred and has been cured with respect to a Trust, Xxxxxx Xxx cannot be removed as Trustee with respect to that Trust. If a Guarantor Event of Default has occurred and is continuing while Xxxxxx Mae is the Trustee, at the direction of Holders of Certificates of any related Class representing at least 51% of the Voting Rights of the related Trust (determined in accordance with Section 14.1)such Class, Xxxxxx Xxx will resign or be removed as the Trustee, and, to the extent permitted by law, all of the rights and obligations of the Trustee with respect to the related Trust only will be terminated by notifying the Trustee in writing. The Holders representing at least 51% of providing the Voting Rights of the related Trust direction referenced above will then be authorized to name and appoint one or more successor Trustees. Notwithstanding the termination of the Trustee, its liability under the Trust Documents arising prior to such termination will survive such termination.

Removal of Trustee for Cause. (ai) Prior to a Guarantor Event of Default or if a Guarantor Event of Default has occurred and has been cured with respect to a Trust, Xxxxxx Xxx cannot be removed as Trustee with respect to that Trust. If a Guarantor Event of Default has occurred and is continuing while Xxxxxx Mae Xxx is the Trustee, at the direction of Holders of Certificates of any related Class representing at least 51% of the Voting Rights of the related Trust (determined in accordance with Section 14.1)such Class, Xxxxxx Xxx will resign or be removed as the Trustee, and, to the extent permitted by law, all of the rights and obligations of the Trustee with respect to the related Trust only will be terminated by notifying the Trustee in writing. The Holders representing at least 51% of providing the Voting Rights of the related Trust direction referenced above will then be authorized to name and appoint one or more successor Trustees. Notwithstanding the termination of the Trustee, its liability under the Trust Documents arising prior to such termination will survive such termination.

Removal of Trustee for Cause. (ai) Prior to a Guarantor Event of Default or if a Guarantor Event of Default has occurred and has been cured with respect to a Trust, Xxxxxx Xxx cannot be removed as Trustee with respect to that Trust. If a Guarantor Event of Default with respect to a Series has occurred and is continuing while Xxxxxx Mae Xxx is the Trustee, at the direction of Holders of Certificates of any Class of that Series representing at least 51% of the Voting Rights of the related Trust (determined in accordance with Section 14.1)such Class, Xxxxxx Xxx will resign or be removed as the Trustee, and, to the extent permitted by law, all of the rights and obligations of the Trustee with respect to the related Trust Series only will be terminated by notifying the Trustee in writing. The Holders representing at least 51% of providing the Voting Rights of the related Trust direction referenced above will then be authorized to name and appoint one or more successor Trustees. Notwithstanding the termination of the Trustee, its liability under the Trust Documents arising prior to such termination will survive such termination.

Removal of Trustee for Cause. (ai) Prior to a Guarantor Event of Default or if a Guarantor Event of Default has occurred and has been cured with respect to a Trust, Xxxxxx Xxx cannot be removed as Trustee with respect to that Trust. If a Guarantor Event of Default has occurred and is continuing while Xxxxxx Mae Xxx is the Trustee, at the direction of Holders of Certificates of any related Trust representing at least 51% of the Voting Rights of the related Trust (determined in accordance with Section 14.1)Issue, Xxxxxx Xxx will resign or be removed as the Trustee, and, to the extent permitted by law, all of the rights and obligations of the Trustee with respect to the related Trust only will be terminated by notifying the Trustee in writing. The Holders representing at least 51% of providing the Voting Rights of the related Trust direction referenced above will then be authorized to name and appoint one or more successor Trustees. Notwithstanding the termination of the Trustee, its liability under the Trust Documents arising prior to such termination will survive such termination.