Replacement of the Security Trustee. The Issuer shall be authorised and obliged to replace the Security Trustee with a reputable firm who needs to be experienced in the business of security trusteeship in the United Kingdom, if the Issuer has been so instructed in writing by a Noteholder or Noteholders and the Subordinated Lender together owning at least 66 2/3 per cent. of the aggregate outstanding nominal amount of the Notes and the Subordinated Loan. The Issuer shall be obliged to notify VWFS and the Rating Agencies within thirty (30) days upon receipt of such request to replace the Security Trustee on the request to replace the Security Trustee.
Appears in 6 contracts
Samples: Trust Agreement, Trust Agreement, Trust Agreement
