Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8 and payment in full of all sums due to the Indenture Trustee pursuant to Section 6.7. The Indenture Trustee may resign at any time by so notifying the Issuer. The Noteholders of Notes evidencing not less than a majority in Note Balance of the Controlling Note Class may remove the Indenture Trustee without cause by so notifying the Indenture Trustee and the Issuer and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:
Appears in 13 contracts
Samples: Note Depository Agreement (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Owner Trust 2005-C), Indenture (Ford Credit Auto Receivables Two LLC)
Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8 and payment in full of all sums due 6.8. Subject to the Indenture Trustee pursuant to Section 6.7. The preceding sentence, the Indenture Trustee may resign at any time by so notifying the Issuer. The Noteholders Holders of Notes evidencing not less than a majority in Note Balance principal amount of the Controlling Note Class Notes Outstanding, voting as a group, may remove the Indenture Trustee without cause by so notifying the Indenture Trustee and the Issuer and the Issuer may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:
Appears in 11 contracts
Samples: Indenture (Mmca Auto Receivables Trust), Indenture (Mmca Auto Receivables Trust Ii), Mmca Auto Owner Trust 2002-4
Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8 and payment in full 6.08. No termination of all sums due to the Indenture Trustee pursuant to Section 6.7without cause will be effective unless the costs and expenses of such Indenture Trustee have been reimbursed in connection with such removal. The Indenture Trustee may resign at any time by so notifying the Issuer. The Noteholders Holders of Notes evidencing not less than a majority in of Note Balance Balances of the Controlling Note Class Notes may remove the Indenture Trustee without cause by so notifying the Indenture Trustee and the Issuer and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:
Appears in 9 contracts
Samples: Credit Suisse First Boston Mortgage Securities Corp, Deutsche Mortgage Securities Inc, Nomura Asset Acceptance Corp
Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8 and payment in full of all sums due to the Indenture Trustee pursuant to Section 6.7. The Indenture Trustee may resign at any time by so notifying the Issuer. The Noteholders of Notes evidencing not less than a majority in Note Balance principal amount of the Controlling Note Class Notes Outstanding may remove the Indenture Trustee without cause by so notifying the Indenture Trustee and the Issuer and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:appoint
Appears in 1 contract
Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8 and payment in full of all sums due to the Indenture Trustee pursuant to Section 6.7. The Indenture Trustee may resign at any time by so notifying the Issuer. The Noteholders of Notes evidencing not less than a majority in Note Balance principal amount of the Controlling Note Class Notes Outstanding may remove the Indenture Trustee without with out cause by so notifying the Indenture Trustee and the Issuer and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:
Appears in 1 contract
Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8 and payment in full of all sums due to the Indenture Trustee pursuant to Section 6.7. The Indenture Trustee may resign at any time by so notifying the Issuer. The Noteholders of Notes evidencing not less than a majority in Note Balance principal amount of the Controlling Note Class Notes Outstanding may remove the Indenture Trustee without cause by so notifying the Indenture Trustee and the Issuer and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:may
Appears in 1 contract
Samples: Ford Credit Auto Receivables Two L P
Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8 and payment in full of all sums due to the Indenture Trustee pursuant to Section 6.7. The Indenture Trustee may resign at any time by so notifying the Issuer. The Noteholders of Notes evidencing not less than a majority in Note Balance principal amount of the Controlling Note Class Notes Outstanding may remove the Indenture Trustee without cause by so notifying the Indenture Trustee and the Issuer and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:: (i) the Indenture Trustee fails to comply with Section 6.11;
Appears in 1 contract
Samples: Ford Motor Credit Co
Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8 and payment in full of all sums due to the Indenture Trustee pursuant to Section 6.7. The Indenture Trustee may resign at any time by so notifying the Issuer. The Noteholders of Notes evidencing not less than a majority in Note Balance of the Controlling Note Class may remove the Indenture Trustee without cause by so notifying the such Indenture Trustee and the Issuer and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:
Appears in 1 contract
Samples: Tia Indenture (Ford Credit Auto Receivables Two L P)
Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8 and payment in full of all sums due to the Indenture Trustee pursuant to Section 6.7. The Indenture Trustee may resign at any time by so notifying the Issuer. The Noteholders of Notes evidencing not less than a majority in Note Balance principal amount of the Controlling Note Class may remove the Indenture Trustee without cause by so notifying the Indenture Trustee and the Issuer and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:may
Appears in 1 contract
Samples: Ford Credit Auto Receivables Two L P
Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Inden- ture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8 and payment in full of all sums due to the Indenture Trustee pursuant to Section 6.7. The Indenture Trustee may resign at any time by so notifying the Issuer. The Noteholders of Notes evidencing not less than a majority in Note Balance principal amount of the Controlling Note Class Notes Outstanding may remove the Indenture Trustee without cause by so notifying the Indenture Trustee and the Issuer and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:
Appears in 1 contract
Samples: Ford Credit Auto Receivables Two L P