Common use of Replacement of Indenture Trustee and the Securities Administrator Clause in Contracts

Replacement of Indenture Trustee and the Securities Administrator. No resignation or removal of the Indenture Trustee or the Securities Administrator and no appointment of a successor Indenture Trustee or successor Securities Administrator shall become effective until the acceptance of appointment by the successor Indenture Trustee or successor Securities Administrator pursuant to this Section 6.08. The Indenture Trustee or the Securities Administrator may resign at any time by so notifying the Issuer. Any resignation or removal of the Securities Administrator shall result in the automatic removal of the Master Servicer to the extent that Xxxxx Fargo Bank, N.A. is both the Securities Administrator and Master Servicer. Holders of a majority of Note Principal Balances of the Notes may remove either of the Indenture Trustee or the Securities Administrator by so notifying the Indenture Trustee or the Securities Administrator and may appoint a successor Indenture Trustee or successor Securities Administrator. The Issuer shall remove the Indenture Trustee or the Securities Administrator, as applicable, if:

Replacement of Indenture Trustee and the Securities Administrator. No resignation or removal of the Indenture Trustee or the Securities Administrator and no appointment of a successor Indenture Trustee or successor Securities Administrator shall become effective until the acceptance of appointment by the successor Indenture Trustee or successor Securities Administrator pursuant to this Section 6.08. The Indenture Trustee or the Securities Administrator may resign at any time by so notifying the Issuer. Any resignation or removal of the Securities Administrator shall result in the automatic removal of the Master Servicer to the extent that Xxxxx Fargo Bank, N.A. National Association, is both the Securities Administrator and Master Servicer. Holders of a majority of Note Principal Balances of the Notes may remove either of the Indenture Trustee or the Securities Administrator by so notifying the Indenture Trustee or the Securities Administrator and may appoint a successor Indenture Trustee or successor Securities Administrator. The Issuer shall remove the Indenture Trustee or the Securities Administrator, as applicable, if:

Replacement of Indenture Trustee and the Securities Administrator. No resignation or removal of the Indenture Trustee or the Securities Administrator and no appointment of a successor Indenture Trustee or successor Securities Administrator shall become effective until the acceptance of appointment by the successor Indenture Trustee or successor Securities Administrator pursuant to this Section 6.08. The Indenture Trustee or the Securities Administrator may resign at any time by so notifying the Issuer. Any resignation or removal of the Securities Administrator shall result in the automatic removal of the Master Servicer to the extent that Xxxxx Wxxxx Fargo Bank, N.A. is both the Securities Administrator and Master Servicer. Holders of a majority of Note Principal Balances of the Notes may remove either of the Indenture Trustee or the Securities Administrator by so notifying the Indenture Trustee or the Securities Administrator and may appoint a successor Indenture Trustee or successor Securities Administrator. The Issuer shall remove the Indenture Trustee or the Securities Administrator, as applicable, if: