Common use of Replacement of Trustee, Paying Agent or Registrar Clause in Contracts

Replacement of Trustee, Paying Agent or Registrar. The Trustee, Paying Agent or Registrar may resign by so notifying the Corporation. The Corporation may at any time without cause remove Trustee, Paying Agent or Registrar by so notifying the removed entity. The Corporation or the Owners of a majority in principal amount of the Securities may appoint a successor Trustee, Paying Agent or Registrar with the Corporation's consent or may remove Trustee, Paying Agent or Registrar if: (1) the Trustee, Paying Agent or Registrar is adjudged a bankrupt or an insolvent; (2) a receiver or other public officer takes charge of the Trustee, Paying Agent or Registrar or its property; or (3) the Trustee, Paying Agent or Registrar otherwise becomes incapable of acting. If the Trustee, Paying Agent or Registrar resigns or is removed or if a vacancy exists in the office of Trustee, Paying Agent, or Registrar for any reason, the Corporation shall promptly appoint a successor. A successor Trustee, Paying Agent or Registrar shall deliver a written acceptance of its appointment to the retiring Trustee, Paying Agent or Registrar and to the Corporation. Immediately thereafter, the retiring Trustee, Paying Agent or Registrar shall transfer all property held by it hereunder to the successor Trustee, Paying Agent or Registrar, the resignation or removal of the retiring Trustee, Paying Agent or Registrar shall become effective, and the successor Trustee, Paying Agent or Registrar shall have all the rights, powers and duties of the prior Trustee, Paying Agent or Registrar, as the case may be, under this Indenture. A successor Trustee, Paying Agent or Registrar shall give notice of its succession to each Security Owner as provided in Section 10.01. If a successor Trustee, Paying Agent or Registrar does not take office within sixty (60) days after its predecessor resigns or is removed, the retiring Trustee, Paying Agent or Registrar, the Corporation or the Owners of a majority in principal amount of the Securities may petition any court of competent jurisdiction for the appointment of a successor.

Replacement of Trustee, Paying Agent or Registrar. The Trustee, Paying Agent or Registrar may resign by so notifying the Corporation. The Corporation may at any time without cause remove Trustee, Paying Agent or Registrar by so notifying the removed entity. The Corporation or the Owners of a majority in principal amount of the Securities may appoint a successor Trustee, Paying Agent or Registrar with the Corporation's consent or may remove Trustee, Paying Agent or Registrar if: (1) the Trustee, Paying Agent or Registrar is adjudged a bankrupt or an insolvent; ; (2) a receiver or other public officer takes charge of the Trustee, Paying Agent or Registrar or its property; or or (3) the Trustee, Paying Agent or Registrar otherwise becomes incapable of acting. If the Trustee, Paying Agent or Registrar resigns or is removed or if a vacancy exists in the office of Trustee, Paying Agent, or Registrar for any reason, the Corporation shall promptly appoint a successor. A successor Trustee, Paying Agent or Registrar shall deliver a written acceptance of its appointment to the retiring Trustee, Paying Agent or Registrar and to the Corporation. Immediately thereafter, the retiring Trustee, Paying Agent or Registrar shall transfer all property held by it hereunder to the successor Trustee, Paying Agent or Registrar, the resignation or removal of the retiring Trustee, Paying Agent or Registrar shall become effective, and the successor Trustee, Paying Agent or Registrar shall have all the rights, powers and duties of the prior Trustee, Paying Agent or Registrar, as the case may be, under this Indenture. A successor Trustee, Paying Agent or Registrar shall give notice of its succession to each Security Owner as provided in Section 10.01. If a successor Trustee, Paying Agent or Registrar does not take office within sixty (60) days after its predecessor resigns or is removed, the retiring Trustee, Paying Agent or Registrar, the Corporation or the Owners of a majority in principal amount of the Securities may petition any court of competent jurisdiction for the appointment of a successor.

Replacement of Trustee, Paying Agent or Registrar. The Trustee, Paying Agent or Registrar may resign by so notifying the Corporation. The Corporation may at any time without cause remove Trustee, Paying Agent or Registrar by so notifying the removed entity. The Corporation or the Owners of a majority in principal amount of the Securities may appoint a successor Trustee, Paying Agent or Registrar with the Corporation's ’s consent or may remove Trustee, Paying Agent or Registrar if: (1) the Trustee, Paying Agent or Registrar is adjudged a bankrupt or an insolvent; (2) a receiver or other public officer takes charge of the Trustee, Paying Agent or Registrar or its property; or (3) the Trustee, Paying Agent or Registrar otherwise becomes incapable of acting. If the Trustee, Paying Agent or Registrar resigns or is removed or if a vacancy exists in the office of Trustee, Paying Agent, or Registrar for any reason, the Corporation shall promptly appoint a successor. A successor Trustee, Paying Agent or Registrar shall deliver a written acceptance of its appointment to the retiring Trustee, Paying Agent or Registrar and to the Corporation. Immediately thereafter, the retiring Trustee, Paying Agent or Registrar shall transfer all property held by it hereunder to the successor Trustee, Paying Agent or Registrar, the resignation or removal of the retiring Trustee, Paying Agent or Registrar shall become effective, and the successor Trustee, Paying Agent or Registrar shall have all the rights, powers and duties of the prior Trustee, Paying Agent or Registrar, as the case may be, under this Indenture. A successor Trustee, Paying Agent or Registrar shall give notice of its succession to each Security Owner as provided in Section 10.01. If a successor Trustee, Paying Agent or Registrar does not take office within sixty (60) days after its predecessor resigns or is removed, the retiring Trustee, Paying Agent or Registrar, the Corporation or the Owners of a majority in principal amount of the Securities may petition any court of competent jurisdiction for the appointment of a successor.