Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7, the Company’s obligations under Section 7.6 shall continue for the benefit of the retiring Trustee.
Appears in 7 contracts
Samples: Indenture (Fidelity & Guaranty Life), Indenture (CNO Financial Group, Inc.), Indenture (CNO Financial Group, Inc.)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyIssuers. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee, with the Issuers’ written consent, which consent will not be unreasonably withheld. The Company shall Issuers may remove the Trustee if:
(i) the Trustee fails to comply with Section 7.97.10;
(ii) the Trustee is adjudged bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA and this Indenture.
(b) If the Trustee resigns, is removed by the Company Issuers or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor TrusteeTrustee with the Issuers’ written consent, which consent will not be unreasonably withheld, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.6. 7.07.
(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, petition at the Company’s expense, expense of the Issuers any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s Issuers’ obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 6 contracts
Samples: Indenture (Albertsons Companies, Inc.), Indenture (Albertsons Companies, Inc.), Indenture (Albertsons Companies, Inc.)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company Trustee and the Trustee Company in writing and may appoint a successor TrusteeTrustee with the Company's consent. The Company shall may remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged a bankrupt or insolventan insolvent under any Bankruptcy Law;
(iiic) a receiver custodian or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon As promptly as practicable after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to the Lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the Notes outstanding Securities may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 6 contracts
Samples: Indenture (St John Knits Inc), Indenture (Axia Inc), Indenture (Carrols Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes may remove the Trustee by so notifying the Company and the Trustee in writing and the Company may appoint a successor Trustee. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.96.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do the Company does not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly Holders of a majority in aggregate principal amount of the Notes may appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall upon payment of its charges hereunder promptly transfer all property held by it as Trustee to the successor Trustee, subject upon payment of any fees and expenses due and owing to the lien provided for in Section 7.6it hereunder. If the Company has not appointed a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed6.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.76.08, the Company’s obligations under Section 7.6 6.07 shall continue for the benefit of the retiring Trustee.
Appears in 6 contracts
Samples: Indenture (Prospect Capital Corp), Indenture (Prospect Capital Corp), Indenture (Prospect Capital Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing with 30 days’ prior written notice and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCompany and the REIT. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall will, upon payment of all amounts due to it under this Indenture, promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee Trustee, after written request by a Securityholder of at least six months, fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayed, any Holder such Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 6 contracts
Samples: Indenture (CBL & Associates Limited Partnership), Indenture (CBL & Associates Limited Partnership), Indenture (CBL & Associates Limited Partnership)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing, such resignation to be effective upon the appointment of a successor Trustee. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor TrusteeTrustee with the Company’s consent which consent shall not be unreasonably withheld. The Company shall may remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged a bankrupt or an insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (subject to the lien provided in Section 7.7), the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Securityholder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 1025% in principal amount of the then outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction at the expense of the Company for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 6 contracts
Samples: Indenture (Vertis Inc), Indenture (Vertis Inc), Indenture (Webcraft LLC)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuers. The Holders Securityholders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company Issuers shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Issuers or by the Holders Securityholders of a majority in principal amount of the Notes Securities and such Holders Securityholders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders Securityholders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s Issuers’ expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in Section 310(b) of the TIA, any Holder Securityholder who has been a bona fide Securityholder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 6 contracts
Samples: Indenture (Star Gas Partners Lp), Indenture (Star Gas Partners Lp), Indenture (Star Gas Partners Lp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in outstanding principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
: (i) the Trustee fails to comply with Section 7.9;
7.10; (ii) the Trustee is adjudged bankrupt or insolvent;
; (iii) a receiver or other public officer takes charge of the Trustee or its property; or
or (iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in outstanding principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in outstanding principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s 's obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (Aurora Foods Inc /De/), Indenture (MBW Foods Inc), Indenture (Doane Pet Care Enterprises Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company Trustee and the Trustee Company in writing and may appoint a successor TrusteeTrustee with the Company's consent. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or insolventan insolvent under any Bankruptcy Law;
(iii3) a receiver custodian or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon As promptly as practicable after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to the Lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Securityholder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the Notes outstanding Securities may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (Global Telesystems Europe B V), Indenture (Tci Satellite Entertainment Inc), Indenture (Hermes Europe Railtel B V)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the then outstanding Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the then outstanding Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in TIA § 310(b), any Holder who has been a bona fide Holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (Venoco, Inc.), Indenture (Venoco, Inc.), Indenture (DENVER PARENT Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing and mailing notice of such resignation to the Holders. The Holders of at least a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged adjudged, by a court of competent jurisdiction, a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its propertyProperty; or
(iv4) the Trustee becomes legally or otherwise becomes incapable of actingacting under and in accordance with the provisions of this Indenture. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee, unless the Holders have appointed a successor Trustee in accordance with the previous paragraph. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section 7.08 and payment to the prior Trustee of all sums due under Section 7.07 hereof. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer all Property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07 hereof, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holderseach Holder. The retiring predecessor Trustee shall promptly transfer all property held by it as not be liable for any acts or omissions of any successor Trustee to and the successor Trustee shall not be liable for any acts or omissions of any predecessor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the Notes outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10 hereof, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 above shall continue for the benefit of the retiring or removed Trustee.
Appears in 5 contracts
Samples: Indenture (Toyota Auto Lease Trust 1998-B), Indenture (Toyota Lease Trust), Indenture (Toyota Auto Lease Trust 1998 C)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyIssuers. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee, with the Issuers’ written consent, which consent will not be unreasonably withheld. The Company shall Issuers may remove the Trustee if:
(i) the Trustee fails to comply with Section 7.97.10;
(ii) the Trustee is adjudged bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA and this Indenture.
(b) If the Trustee resigns, is removed by the Company Issuers or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor TrusteeTrustee with the Issuers’ written consent, which consent will not be unreasonably withheld, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.6. 7.07.
(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, petition at the Company’s expense, expense of the Issuers any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s Issuers’ obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (Safeway Stores 42, Inc.), Indenture (Safeway Stores 42, Inc.), Indenture (Albertsons Companies, Inc.)
Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.07.
(b) The Trustee may resign resign, and be discharged from the trust hereby created, at any time by so notifying the CompanyCompany in writing no later than 15 Business Days prior to the date of the proposed resignation. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company’s written consent, which consent shall not be unreasonably withheld. The Company shall may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.09 hereof;
(ii2) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under Bankruptcy Law;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. .
(c) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. .
(d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee.
(e) If the Trustee fails to comply with Section 7.09 hereof, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.
(f) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to the Lien and its rights under Section 7.06 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Holder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.07, the Lien and Company’s obligations under Section 7.6 7.06 hereof shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (Fti Consulting Inc), Indenture (Alliance Data Systems Corp), Indenture (Alliance Data Systems Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company Trustee and the Trustee Company in writing and may appoint a successor Trustee. The Company shall may remove the Trustee at its election if:
(ia) the Trustee fails to comply with Section 7.97.10 hereof;
(iib) the Trustee is adjudged a bankrupt or an insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07 hereof, all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07 hereof, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10 hereof, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s obligations under Section 7.6 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (CNH Industrial Capital LLC), Indenture (CNH Capital LLC), Indenture (CNH Capital LLC)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail (or otherwise send in accordance with applicable procedures of the Depository) a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 1010.0% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (Credit Acceptance Corp), Indenture (Credit Acceptance Corp), Indenture (Credit Acceptance Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company’s written consent, which consent will not be unreasonably withheld. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor TrusteeTrustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any other reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail send a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Holder, who has been a bona fide holder of a Security for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (CNX Resources Corp), Indenture (CNX Resources Corp), Indenture (CNX Resources Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing, such resignation to be effective upon the appointment of a successor Trustee. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor TrusteeTrustee with the Company's consent which consent shall not be unreasonably withheld. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Koppers Industries Inc), Indenture (Aerosol Services Co Inc), Indenture (Neff Corp)
Replacement of Trustee. A resignation or removal of the Trustee and the appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes outstanding Debentures may remove the Trustee by so notifying the Company Trustee and the Trustee in writing Company, and may appoint a successor TrusteeTrustee with the Company's consent. The Company shall may remove the Trustee if:
: (i) the Trustee fails to comply with Section 7.9;
7.10; (ii) the Trustee is adjudged a bankrupt or an insolvent;
; (iii) a receiver or other public officer takes charge of the Trustee or its property; or
or (iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately thereafter, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (subject to the lien provided for in Section 7.07), the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Debentureholder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% a majority in principal amount of the Notes outstanding Debentures may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Debentureholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee, provided, however, that if the Trustee shall fail to comply with TIA ss. Notwithstanding the replacement 310(b)(i), only a Debentureholder who has been a bona fide holder of the Debentures for at least six months and has requested the Trustee pursuant in writing to this Section 7.7, the Company’s obligations under Section 7.6 shall continue for the benefit of the retiring Trusteecomply with such provision may so petition such court.
Appears in 4 contracts
Samples: Indenture (Intervest Bancshares Corp), Indenture (Intervest Corporation of New York), Indenture (Intervest Corporation of New York)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes Securities then outstanding may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes Securities then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in aggregate principal amount of the Notes Securities then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Securityholder who has been a bona fide Holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Alamosa Holdings Inc), Indenture (Alamosa Delaware Inc), Indenture (Fairpoint Communications Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company's written consent which consent shall not be unreasonably withheld. The Company shall may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged a bankrupt or insolventan insolvent under any Bankruptcy Law;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or;
(iv4) the Trustee otherwise becomes incapable of acting; or
(5) a successor corporation becomes successor Trustee pursuant to Section 7.09 below. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in principal amount of the outstanding Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Securityholder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Samsonite Holdings Inc), Indenture (Samsonite Corp/Fl), Indenture (Samsonite Holdings Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities then outstanding may remove the Trustee by so notifying the Company Trustee and may, with the Trustee in writing and may Company's written consent, appoint a successor Trustee. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.99.10;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. If a successor Trustee does not take office within 45 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of 10% in principal amount of the Securities then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 9.10, any Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee and be released from its obligations (exclusive of any liabilities that the retiring Trustee may have incurred while acting as Trustee) hereunder, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7, the Company’s obligations under Section 7.6 shall continue for the benefit of the retiring Trusteeeach Securityholder.
Appears in 4 contracts
Samples: Indenture (American Skiing Co /Me), Indenture (Einstein Noah Bagel Corp), Indenture (Family Golf Centers Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall may remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged a bankrupt or an insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to the Lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Securityholder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the Notes outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor TrusteeTrustee at the expense of the Company. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Asap Software Express Inc), Indenture (Buhrmann Nederland B.V.), Indenture (Asap Software Express Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company's written consent, which consent will not be unreasonably withheld. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor TrusteeTrustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s 's expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s 's duty to resign is stayedstayed as provided in TIA Section 310(b), any Holder Securityholder, who has been a bona fide holder of a Security for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s 's obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Portola Packaging, Inc. Mexico, S.A. De C.V.), Indenture (Portola Packaging Inc), Indenture (VI Acquisition Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Majority Holders of a majority in principal amount of the Notes may remove the Trustee with respect to the Securities by so notifying the Company and with 31 days prior notice to the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.09;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Company, or is removed by the Majority Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersHolders of the Outstanding Securities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.06. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 1020% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.09, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Mbia Inc), Subordinated Indenture (Mbia Inc), Indenture (Mbia Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.98.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.68.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.98.10, unless the Trustee’s duty to resign is stayedstayed as provided in TIA § 310(b), any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.78.08, the Company’s obligations under Section 7.6 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Goodrich Petroleum Corp), Indenture (Superior Energy Services Inc), Indenture (Cogent Communications Group Inc)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall may remove the Trustee if:
(i) the Trustee fails to comply with Section 7.97.10;
(ii) the Trustee is adjudged bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA and this Indenture.
(b) If the Trustee resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.6. 7.07.
(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Phoenix Consulting Group, LLC), Indenture (TPC Group Inc.), Indenture (Remington Arms Co Inc/)
Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.8. The Trustee may resign in writing at any time and be discharged from the trust hereby created by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Company Trustee and the Trustee Company in writing and may appoint a successor Trusteewriting. The Company shall may remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10 hereof;
(iib) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(iiic) a receiver Custodian or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of all then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Promptly after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.7 hereof, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a deliver notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in aggregate principal amount of the all outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10 hereof, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s and Guarantors’ obligations under Section 7.6 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Toys R Us Property Co II, LLC), Indenture (Toys R Us Inc), Indenture (Toys R Us Property Co I, LLC)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany and the Guarantors in writing, such resignation to become effective upon the appointment of a successor Trustee. The Holders of a majority in principal amount of the outstanding Senior Notes may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company's written consent which consent shall not be unreasonably withheld. The Company shall may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 25% in principal amount of the outstanding Senior Notes may petition any court of competent jurisdiction at the expense of the Company and Guarantors, in the case of the Trustee, for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.7 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Noteholder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s 's obligations under Section 7.6 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Mariner Post Acute Network Inc), Indenture (Mariner Post Acute Network Inc), Indenture (Superior Telecommunications Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company's written consent which consent shall not be unreasonably withheld. The Company shall may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Noteholder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Cole National Group Inc), Indenture (Cole National Corp /De/), Indenture (Entex Information Services Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trusteetrustee with the Company's consent. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to its rights under Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Security holder. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the Notes outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Security holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Packaged Ice Inc), Indenture (Call Points Inc), Indenture (Packaged Ice Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in TIA § 310(b), any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Group 1 Automotive Inc), Indenture (Kyphon Inc), Indenture (Group 1 Automotive Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuer and the Guarantors in writing. The Holders of a majority in aggregate principal amount of the outstanding Notes may remove the Trustee by so notifying the Company Issuer and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Issuer’s written consent, which consent shall not be unreasonably withheld. The Company shall Issuer may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason reason, the Issuer shall promptly appoint a successor Trustee. If a Trustee is removed with or without cause, all fees and expenses (including the reasonable fees and expenses of counsel) of the Trustee incurred in such event being referred the administration of the trust or in performing the duties hereunder shall be paid to herein as the Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee), the Company shall promptly appoint Issuer or the Holders of at least 10% in principal amount of the outstanding Notes may petition any court of competent jurisdiction, at the expense of the Issuer, for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Holder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the CompanyIssuer’s and the Guarantors’ obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (News Corp), Indenture (News Corp), Indenture (ANGI Homeservices Inc.)
Replacement of Trustee. The Trustee may resign at any ----------------------- time by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in aggregate principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Securityholder who has been a bona fide Holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Exchange Indenture (Century Maintenance Supply Inc), Indenture (Hudson Respiratory Care Inc), Exchange Indenture (Hudson Respiratory Care Inc)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company, in writing, at least 30 days prior to the proposed resignation. The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Company and the Trustee Trustee, in writing and may appoint a successor Trusteewriting. The Company shall may remove the Trustee if:
(i) the Trustee fails to comply with Section 7.97.09 hereof;
(ii) the Trustee is adjudged bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. .
(b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trusteethen outstanding, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall will promptly appoint a successor Trustee. .
(c) A successor Trustee shall will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Thereupon, the resignation or removal of the retiring Trustee shall will become effective, and the successor Trustee shall will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail will send a notice of its succession to Holders. The retiring Trustee shall will, upon payment of all of its costs, charges and all other amounts payable to it hereunder and the costs and expenses of its agents and counsel, promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. 7.06(b) hereof.
(d) If a successor Trustee does not take office within 60 45 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.09 hereof, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.07, the Company’s obligations under Section 7.6 shall 7.06 hereof will continue for the benefit of the retiring Trustee.
(g) The retiring Trustee shall have no responsibility or liability for any action or inaction of a successor Trustee.
Appears in 3 contracts
Samples: First Supplemental Indenture (Par Technology Corp), Indenture (Par Technology Corp), Indenture (Par Technology Corp)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes may remove the Trustee by so notifying the Company and the Trustee in writing not less than 30 days prior the effective date of such removal and may appoint a successor TrusteeTrustee with the consent of the Company, which shall not be unreasonably withheld. The Company shall remove the Trustee if:
(i) the Trustee fails to comply with Section 7.97.10;
(ii) the Trustee is adjudged bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. .
(b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. 7.7.
(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 1010.0% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in Section 310(b) of the Trust Indenture Act, any Holder may petition any court of competent jurisdiction jurisdiction, at the expense of the Company, for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
(g) The Trustee shall have no responsibility or liability for any action or inaction of a successor Trustee.
Appears in 3 contracts
Samples: Indenture (MSCI Inc.), Indenture (MSCI Inc.), Indenture (MSCI Inc.)
Replacement of Trustee. The Trustee may resign at any time with respect to the Securities of one or more series by so notifying the CompanyCorporation. The Holders of a majority in principal amount of the Notes Securities of any series may remove the Trustee with respect to that series by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Corporation’s consent. The Company shall Corporation may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company Corporation shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCorporation. Thereupon Immediately thereafter, the retiring Trustee shall transfer all property held by it as Trustee for the benefit of the series with respect to which it is retiring to the successor Trustee, the resignation or removal of the retiring Trustee shall then become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this IndentureIndenture with respect to that series. The A successor Trustee shall mail a give notice of its succession to Holderseach Holder of the Securities of the series affected. The retiring If pursuant to Section 2.03(5) a trustee, other than the Trustee initially named in this Indenture (or any successor thereto), is appointed with respect to one or more series of Securities, the Corporation, the Trustee initially named in this Indenture (or any successor thereto) and such newly appointed trustee shall promptly transfer execute and deliver a supplement to this Indenture which shall contain such provisions as shall be necessary or desirable to confirm that all property held by it as the rights, powers, trusts and duties of the Trustee initially named in this Indenture (or any successor thereto) with respect to the Securities of any series as to which the Trustee is continuing as trustee hereunder shall continue to be vested in the Trustee initially named in this Indenture (or any successor Trusteethereto), subject and shall add to, supplement or change any of the provisions of this Indenture as shall be necessary or desirable to provide for or facilitate the administration of the trusts hereunder by more than one trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such trustees co-trustees of the same trust and that each such trustee shall be trustee of a trust or trusts relating to the lien provided for in Section 7.6separate series of Securities as if it were acting under a separate indenture. If a successor Trustee with respect to a series of Securities does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Corporation or the Holders of at least 10% a majority in principal amount of the Notes Securities of that series may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee with respect to a series of Securities fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder of Securities of that series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of If there are two or more Trustees at any time under this Indenture, each will be the Trustee pursuant to of a separate trust held under this Section 7.7, the Company’s obligations under Section 7.6 shall continue Indenture for the benefit of the retiring Trusteeseries of Securities for which it is acting as Trustee and the rights and obligations of each Trustee will be determined as if it were acting under a separate indenture.
Appears in 3 contracts
Samples: Indenture (Lockheed Martin Corp), Indenture (Lockheed Martin Corp), Indenture (Lockheed Martin Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes then outstanding Securities of any series may remove the Trustee with respect to the Securities of such series by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes then outstanding Securities of any series and such Holders of such series do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee with respect to such series. If a successor Trustee with respect to Securities of any series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the then outstanding Securities of such series may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee with respect to Securities of such series. If the Trustee with respect to the Securities of a series fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in TIA § 310(b), any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with respect to such series. A In case of the appointment of a successor Trustee with respect to all Securities, each such successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee Trustee, to the Company and to the Companyany Guarantors. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers power and duties of the retiring Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders In case of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, any Guarantors, the retiring Trustee and each successor Trustee with respect to the Securities of one or more (but not all) series shall execute and deliver an indenture supplemental hereto in which each successor Trustee shall accept such appointment and that (1) shall confer to each successor Trustee all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall confirm that all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee. If Nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, and each such Trustee fails to comply with Section 7.9shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee. Upon the execution and delivery of such supplemental indenture, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee shall have all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of a such successor Trustee relates. On request of the Company or any successor Trustee, such retiring Trustee shall transfer to such successor Trustee all property held by such retiring Trustee as Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. Such retiring Trustees shall, however, have the right to deduct its unpaid fees and expenses, including attorneys’ fees. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (234DP Aviation, LLC), Indenture (234DP Aviation, LLC), Indenture (Dr Pepper Snapple Group, Inc.)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holder or Holders of a majority in principal amount of the Notes then outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trusteewriting. The Company shall Company, by Board of Directors resolution, may remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver receiver, Custodian, or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of this Section 7.8. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holder or Holders of a majority in principal amount of then outstanding Securities may, with the Company's consent, appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately upon delivery of such notice and provided that all sums owing to the retiring Trustee provided for in Section 7.7 have been paid, the retiring Trustee shall transfer all property held by it as trustee to the successor Trustee, subject to the lien provided in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holder or Holders of at least 10% in principal amount of the Notes may petitionthen outstanding Securities may, at the expense of the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any bona fide Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s 's obligations under Section 7.6 7.7 shall continue indefinitely for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Arris Group Inc), Indenture (Antec Corp), Indenture (Antec Corp)
Replacement of Trustee. (a) The Trustee may resign by so notifying the Company and to the Holders of Notes. The Holders of a majority in aggregate principal amount of the Notes then outstanding may remove the Trustee at any time by so notifying the Trustee and may, with the Company. The Holders of a majority in principal amount of the Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may 's written consent, appoint a successor Trustee. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.99.10;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. .
(b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. The resignation or removal of a Trustee shall not be effective until a successor Trustee shall have delivered the written acceptance of its appointment as described below.
(c) If a successor Trustee does not take office within 45 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of 10% in principal amount of the Notes then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Company.
(d) The Holders of a majority in aggregate principal amount of the Notes then outstanding may upon removal of the Trustee nominate a successor trustee that shall be deemed appointed as successor trustee unless, within ten Business Days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any other Holder, or if such Trustee so removed or any Holder fails to act, the Company, upon the terms and conditions provided herein, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(e) If the Trustee fails to comply with Section 9.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.
(f) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee and be released from its obligations (exclusive of any liabilities that the retiring Trustee may have Incurred while acting as Trustee) hereunder, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The each Holder.
(g) A retiring Trustee shall promptly transfer all property held by it as Trustee to not be liable for the successor Trustee, subject to the lien provided for in Section 7.6. If a acts or omissions of any successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. its succession.
(h) Notwithstanding the replacement of the Trustee pursuant to this Section 7.79.8, the Company’s 's obligations under Section 7.6 9.7 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Clearwire Corp), Indenture (Clearwire Corp), Indenture (Clearwire Corp)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyCompany and the Guarantor. The Holders of a majority in aggregate principal amount of the Notes Securities then outstanding may remove the Trustee by so notifying the Company Company, the Guarantor and the Trustee in writing and may appoint a successor Trusteewriting. The Company shall may remove the Trustee if:
(i) the Trustee fails to comply with Section 7.98.09 hereof;
(ii) the Trustee is adjudged bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. .
(b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes and such Holders do not reasonably promptly appoint a successor TrusteeSecurities then outstanding, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company by a Board Resolution shall promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee Trustee, to the Company and to the CompanyGuarantor. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers powers, duties, protections, indemnities and duties immunities of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. 8.06 hereof and the payment of its charges.
(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in aggregate principal amount of the Notes may petitionSecurities then outstanding may, at the expense of the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee or the retiring Trustee may itself appoint a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed8.09 hereof, any Holder who has been a bona fide Holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.78.07, the Company’s obligations of the Company and the Guarantor under Section 7.6 8.06 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Cencosud S.A.), Indenture (Cencosud S.A.), Indenture (Cencosud S.A.)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Company removed Trustee and the Trustee Company in writing and may appoint a successor TrusteeTrustee with the Company’s written consent. The Company shall may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(iii3) a receiver or other public officer takes charge or control of the Trustee or its propertyproperty or affairs; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the No resignation or removal of the retiring Trustee shall become effective, and effective until the successor Trustee shall have all the rights, powers and duties acceptance of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held appointment by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% a majority in principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction at the expense of the Company for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10 hereof, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee if the Trustee fails after written request thereof by such Holder to comply with such Section 7.10. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately following such delivery, the resignation or removal of the retiring Trustee shall become effective and the retiring Trustee shall, subject to its rights under Section 7.07 hereof, transfer all property held by it as Trustee to the successor Trustee, and the successor Trustee, after any and all amounts then due and owing the Trustee hereunder have been paid in full, shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Holder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s obligations under Section 7.6 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Healthsouth Corp), Indenture (Healthsouth Corp), Indenture (Healthsouth Corp)
Replacement of Trustee. The Trustee may resign at any time with respect to the Securities of one or more series by so notifying the CompanyCorporation. The Holders of a majority in principal amount of the Notes Securities of any series may remove the Trustee with respect to that series by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Corporation's consent. The Company shall Corporation may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company Corporation shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCorporation. Thereupon Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee for the benefit of the series with respect to which it is retiring to the successor Trustee, the resignation or removal of the retiring Trustee shall then become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this IndentureIndenture with respect to that series. The A successor Trustee shall mail a notice of its succession to Holderseach Holder of the Securities of the series affected. The retiring If pursuant to Section 2.03(5) a trustee, other than the Trustee initially named in this Indenture (or any successor thereto), is appointed with respect to one or more series of Securities, the Corporation, the Trustee initially named in this Indenture (or any successor thereto) and such newly appointed trustee shall promptly transfer execute and deliver a supplement to this Indenture which shall contain such provisions as shall be necessary or desirable to confirm that all property held by it as the rights, powers, trusts and duties of the Trustee initially named in this Indenture (or any successor thereto) with respect to the Securities of any series as to which the Trustee is continuing as trustee hereunder shall continue to be vested in the Trustee initially named in this Indenture (or any successor Trusteethereto), subject and shall add to, supplement or change any of the provisions of this Indenture as shall be necessary or desirable to provide for or facilitate the administration of the trusts hereunder by more than one trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such trustees co-trustees of the same trust and that each such trustee shall be trustee of a trust or trusts relating to the lien provided for in Section 7.6separate series of Securities as if it were acting under a separate indenture. If a successor Trustee with respect to a series of Securities does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Corporation or the Holders of at least 10% a majority in principal amount of the Notes Securities of that series may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee with respect to a series of Securities fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder of Securities of that series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of If there are two or more Trustees at any time under this Indenture, each will be the Trustee pursuant to of a separate trust held under this Section 7.7, the Company’s obligations under Section 7.6 shall continue Indenture for the benefit of the retiring Trusteeseries of Securities for which it is acting as Trustee and the rights and obligations of each Trustee will be determined as if it were acting under a separate indenture.
Appears in 3 contracts
Samples: Indenture (Lockheed Martin Corp), Indenture (Lockheed Martin Corp), Indenture (Lockheed Martin Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in outstanding principal amount of the Notes Securities of a series may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor TrusteeTrustee as to such series. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or Company, is removed by the Holders of a majority in outstanding principal amount of the Notes Securities of a series and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holdersthe Securityholders. The retiring Trustee shall (upon payment of its charges) promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in outstanding principal amount of the Notes may petition, Securities of a series at the Company’s expense, expense of the Company may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Laboratory Corp of America Holdings), Indenture (Laboratory Corp of America Holdings), Indenture (Laboratory Corp of America Holdings)
Replacement of Trustee. The Trustee may resign at any time time. Any successor Trustee shall resign if it ceases to be eligible in accordance with the provisions of Section 7.09. In either case, the resignation of the Trustee shall become effective, and the resigning Trustee shall be discharged from its obligations with respect to the Pass-Through Pools created under this Agreement by so notifying giving 90 days’ written notice of the Company. The Holders resignation to the Depositor, the Guarantor and the Administrator and upon the effectiveness of an appointment of a majority in principal amount successor Trustee, which may be as of a date prior to the end of the Notes may remove 90-day period. Upon receiving such notice of resignation, the Depositor shall promptly appoint one or more successor Trustees by written instrument, one copy of which is delivered to the resigning Trustee by so notifying and one copy of which is delivered to the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove successor Trustee need not be the same Person for all Pass-Through Pools. If no successor Trustee if:has been appointed for a Pass-Through Pool, or one that has been appointed has not accepted the appointment within 90 days after giving such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Xxxxxxx.
(i) the Trustee fails to comply with Section 7.97.09;
(ii) the Trustee is adjudged bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. If at any time a Trustee Event of Default has occurred and is continuing, the Guarantor (or if an Event of Default has occurred and is continuing, the Depositor) may, and if directed by the acting holders, shall, remove the Trustee as to such Pass-Through Pool and appoint a successor Trustee by written instrument, one copy of which shall be delivered to the Trustee so removed and one copy of which shall be delivered to the successor Trustee, and the Guarantor (or if an Event of Default has occurred and is continuing, the Depositor) shall give written notice of the successor Trustee to the Holders affected by the succession. Notwithstanding the termination of the Trustee, its liability under this Agreement arising prior to such termination will survive such termination. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Depositor shall promptly appoint a successor Trustee that satisfies the eligibility requirements of Section 7.09. The retiring Trustee agrees to cooperate with Freddie Mac and any successor Trustee in effecting the termination of the retiring Trustee’s responsibilities and rights hereunder and shall promptly provide such successor Trustee all documents and records reasonably requested by it to enable it to assume the Trustee’s functions hereunder. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyDepositor, the Guarantor and the Administrator. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this IndentureAgreement with respect to such Pass-Through Pool. The successor Trustee shall mail a notice of its succession to the related Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee Xxxxxxx does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Depositor may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7, the Company’s obligations under Section 7.6 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Pass Through Certificates Master Trust Agreement, Pass Through Certificates Master Trust Agreement, Pass Through Certificates Master Trust Agreement
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor TrusteeTrustee with the Company’s consent. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes legally incapable of actingacting with respect to its duties hereunder. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture; provided, however, that no Trustee under this Indenture shall be liable for any act or omission of any successor Trustee. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Securityholder. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the expense of the Company), the Company or the Holders of at least 10% in principal amount of the Notes outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring TrusteeTrustee and the Company shall pay to any such replaced or removed Trustee all amounts owed under Section 7.07 upon such replacement or removal.
Appears in 3 contracts
Samples: Indenture (Tenneco Inc), Indenture (Tenneco Inc), Indenture (Tenneco Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuer and the Guarantors in writing. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company Issuer and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Issuer’s written consent, which consent shall not be unreasonably withheld. The Company shall Issuer may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason reason, the Issuer shall promptly appoint a successor Trustee. If a Trustee is removed with or without cause, all fees and expenses (including the reasonable fees and expenses of counsel) of the Trustee incurred in such event being referred the administration of the trust or in performing the duties hereunder shall be paid to herein as the Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee), the Company shall promptly appoint Issuer or the Holders of at least 10% in principal amount of the outstanding Notes may petition any court of competent jurisdiction, at the expense of the Issuer, for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Holder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s Issuer obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Iac/Interactivecorp), Indenture (Match Group, Inc.), Indenture (HomeAdvisor, Inc.)
Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company Trustee and the Trustee in writing and may appoint a successor TrusteeCompany. The Company shall may remove the Trustee if:
(i) the Trustee fails to comply with Section 7.98.10;
(ii) the Trustee is adjudged bankrupt or an insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least a majority in aggregate principal amount of the Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 8.10, any Securityholder or beneficial owner may petition any court of competent jurisdiction at the expense of the Company for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company satisfactory in form and substance to the retiring Trustee and the Company. Thereupon the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (subject to the lien provided for in Section 8.07), the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7, the Company’s obligations under Section 7.6 shall continue for the benefit of the retiring TrusteeSecurityholders.
Appears in 3 contracts
Samples: Indenture (Belden CDT Inc.), Indenture (Belden CDT Inc.), Indenture (Belden CDT Inc.)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holder or Holders of a majority in aggregate principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trusteetrustee with the Company's consent. The Company shall may remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver receiver, Custodian, or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holder or Holders of a majority in aggregate principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that and provided that all sums owing to the retiring Trustee provided for in Section 7.7 have been paid, the retiring Trustee shall transfer all property held by it as trustee to the successor Trustee, subject to the lien provided in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holder or Holders of at least 10% in aggregate principal amount of the Notes outstanding Securities may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s Company and the Guarantors' obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Talk Radio Network Inc), Indenture (Jacor Communications Inc), Indenture (Multiverse Acquisition Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holder or Holders of a majority in aggregate principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trusteetrustee with the Company's consent. The Company shall may remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10 hereof;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver receiver, Custodian or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holder or Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that and provided that all sums owing to the retiring Trustee provided for in Section 7.7 hereof have been paid, the retiring Trustee shall transfer all property held by it as trustee to the successor Trustee, subject to the lien provided in Section 7.7 hereof, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holder or Holders of at least 10% in principal amount of the Notes outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10 hereof, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s 's and the Guarantors' obligations under Section 7.6 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Wichita Manufacturing Inc), Indenture (Compass Aerospace LTD), Indenture (Sun Healthcare Group Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying upon 30 days’ written notice to the CompanyCo-Issuers in writing. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying upon 30 days written notice to the Company Co-Issuers and the Trustee in writing and may appoint a successor TrusteeTrustee (which Trustee shall be reasonably acceptable to the Co-Issuers). The Company shall Co-Issuers may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of actingacting as Trustee hereunder. If the Trustee resigns or is removed by or if a vacancy exists in the Company or by office of the Trustee for any reason, the Co-Issuers shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes and such Holders do not reasonably promptly may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee for any reason (appointed by the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor TrusteeCo-Issuers. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCo-Issuers. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee hereunder and under the Security Documents to the successor Trustee, subject to the Lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall deliver electronically or mail a notice of its succession to Holderseach Holder. The retiring or removed Trustee shall promptly transfer all property held by it have no responsibility or liability for the action or inaction of any successor Trustee. Any resignation or removal of the Trustee pursuant to this Indenture shall be deemed to be a resignation or removal of the Trustee under the Security Documents and any appointment of a successor Trustee pursuant to this Indenture shall be deemed to be an appointment of such person as Trustee a successor to the Trustee under the Security Documents and such successor Trustee, subject to shall assume all of the lien provided for in Section 7.6obligations of the Trustee under the Security Documents. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Co-Issuers or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the Company’s expenseexpense of the Co-Issuers, any court of competent jurisdiction for the appointment of a successor TrusteeTrustee at the expense of the Co-Issuers. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s Co-Issuers’ and Guarantors’ obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Eighth Supplemental Indenture (Navios Maritime Holdings Inc.), Supplemental Indenture (Navios Maritime Holdings Inc.), Indenture (Navios Maritime Holdings Inc.)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes then outstanding Securities of any series may remove the Trustee with respect to the Securities of such series by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes then outstanding Securities of any series and such Holders of such series do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee with respect to such series. If a successor Trustee with respect to Securities of any series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the then outstanding Securities of such series may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee with respect to Securities of such series. If the Trustee with respect to the Securities of a series fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in TIA § 310(b), any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with respect to such series. A In case of the appointment of a successor Trustee with respect to all Securities, each such successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee Trustee, to the Company and to the CompanyGuarantors. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers power and duties of the retiring Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders In case of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the Guarantors, the retiring Trustee and each successor Trustee with respect to the Securities of one or more (but not all) series shall execute and deliver an indenture supplemental hereto in which each successor Trustee shall accept such appointment and that (1) shall confer to each successor Trustee all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall confirm that all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee. If Nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, and each such Trustee fails to comply with Section 7.9shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee. Upon the execution and delivery of such supplemental indenture, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee shall have all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of a such successor Trustee relates. On request of the Company or any successor Trustee, such retiring Trustee shall transfer to such successor Trustee all property held by such retiring Trustee as Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. Such retiring Trustees shall, however, have the right to deduct its unpaid fees and expenses, including attorneys’ fees. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Mariner Gulf of Mexico LLC), Indenture (Mariner Energy Inc), Indenture (Mariner Gulf of Mexico LLC)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing and mailing notice of such resignation to the Securityholders. The Holders of at least a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its propertyProperty; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee, unless the Holders have appointed a successor Trustee in accordance with the previous paragraph. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section 7.08 and payment to the prior Trustee of all sums due under Section 7.07 hereof. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer all Property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07 hereof, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Securityholder. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the Notes outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10 hereof, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 above shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Toyota Lease Trust), Indenture (Toyota Lease Trust), Indenture (Toyota Auto Lease Trust 1997-A)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying written notice to the Company. .
(i) The Holders of not less than a majority in principal amount of the Notes then outstanding may remove the Trustee by so notifying written notice to the Trustee with the consent of the Company which shall not be unreasonably withheld.
(ii) If the Trustee is no longer eligible under Section 8.11 or in the circumstances described in Section 310(b) of the Trust Indenture Act, any Holder that satisfies the requirements of Section 310(b) of the Trust Indenture Act may petition any court of competent jurisdiction for the removal of the Trustee and the Trustee in writing and may appoint appointment of a successor Trustee. .
(iii) The Company shall may remove the Trustee if:
: (i) the Trustee fails to comply with Section 7.9;
(iiA) the Trustee is adjudged a bankrupt or an insolvent;
; (iiiB) a receiver or other public officer takes charge of the Trustee or its property; or
or (ivC) the Trustee otherwise becomes incapable of acting. A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 8.08.
(b) If the Trustee resigns or is has been removed by the Company or by the Holders, Holders of not less than a majority in principal amount of the Notes and such Holders do not reasonably promptly may appoint a successor TrusteeTrustee with the consent of the Company which shall not be unreasonably withheld. Otherwise, if the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall will promptly appoint a successor Trustee. A If the successor Trustee does not deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the expense and on behalf of the Company) may appoint its own successor, or the retiring Trustee (at the expense of the Company), the Company or the Holders of not less than a majority in the aggregate principal amount of the Notes then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee.
(c) Notwithstanding the foregoing, upon the occurrence of an Event of Default, the consent of the Company shall deliver not be required by the Holders to replace the Trustee if, after the replacement of the Trustee, the Principal Paying Agent will be located in Singapore or another jurisdiction that would potentially reduce the rate of Mongolian withholding tax applicable to payments on the Notes by the Company.
(d) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of , (i) the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly will transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after Section 8.07, (ii) the resignation or removal of the retiring Trustee resigns or is removedwill become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the retiring Company will execute any and all instruments for fully vesting in and confirming to the successor Trustee or the Holders all such rights, powers and trusts. The Company will give notice of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, resignation and any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the each appointment of a successor Trustee. Trustee to all Holders, and include in the notice the name of the successor Trustee and the address of its Corporate Trust Office.
(e) Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 shall Section 8.07 will continue for the benefit of the retiring Trustee.
(f) None of the Company, the Parent Guarantor or any Subsidiary Guarantor or any of their respective Affiliates shall serve as the Trustee.
Appears in 3 contracts
Samples: Indenture (Energy Resources Rail LLC), Indenture (Enrestechnology LLC), Indenture (Enrestechnology LLC)
Replacement of Trustee. (a) The Trustee or any successor hereunder may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolventinsolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. .
(b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor TrusteeOutstanding Notes, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the “retiring Trustee”), the Company shall promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. 7.7; provided all sums owing to the retiring Trustee hereunder have been paid.
(d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Outstanding Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (MDC Partners Inc), Indenture (MDC Partners Inc), Indenture (MDC Partners Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if the Trustee resigns, is removed by the Company or a vacancy otherwise exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 calendar days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction (at the expense of the Company) for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s and the Guarantors’ obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Jarden Corp), Indenture (Jarden Corp), Indenture (Jarden Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company’s written consent, which consent will not be unreasonably withheld. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor TrusteeTrustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in TIA § 310(b), any Holder Securityholder, who has been a bona fide holder of a Security for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Cellu Tissue Holdings, Inc.), Indenture (Prospect Medical Holdings Inc), Indenture (Cellu Tissue - CityForest LLC)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany and the Guarantors in writing. The Holders holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company's written consent, which consent shall not be unreasonably withheld. The Company shall may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or;
(iv4) the Trustee otherwise becomes incapable of acting; or
(5) a successor corporation becomes successor Trustee pursuant to Section 7.09 below. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. If a successor Trustee does not take office within 30 days after such retiring Trustee resigns or is removed, the retiring Trustee (at the expense of the Company), the Company or the holders of a majority in principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to its rights, including its lien, under Section 7.07 hereof and payment of its charges hereunder, transfer all property held by it as Trustee to its successor, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach holder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the lien and the Company’s 's obligations under Section 7.6 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Harbinger Capital Partners Master Fund I, Ltd.), Indenture (Harbinger Capital Partners Master Fund I, Ltd.), Indenture (Harbinger Capital Partners Master Fund I, Ltd.)
Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section 7.07. The Trustee may resign at any time by so notifying the CompanyCompany in writing thirty (30) days prior to such resignation. The Holders of a majority in aggregate principal amount of the Notes Securities then outstanding may remove the Trustee by so notifying the Company Trustee and the Trustee Company in writing and may appoint a successor TrusteeTrustee with the Company's consent. The Company shall may remove the Trustee on thirty (30) days written notice if:
(ia) the Trustee fails to comply with Section 7.97.09;
(iib) the Trustee is adjudged a bankrupt or an insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. If a successor Trustee does not take office within thirty (30) days after the retiring Trustee resigns or is removed, the retiring Trustee (at the Company's expense), the Company or the Holders of at least ten percent (10%) in aggregate principal amount of the outstanding Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.09, the Company or any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail send a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7, the Company’s obligations under Section 7.6 shall continue for the benefit of the retiring Trustee7.06.
Appears in 3 contracts
Samples: Investment Agreement (Nu Skin Enterprises Inc), Indenture (Nu Skin Enterprises Inc), Investment Agreement (Nu Skin Enterprises Inc)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyCompany in writing at least 30 calendar days prior to the proposed effective date of such resignation. The Holders of a majority in aggregate principal amount of the Notes then outstanding may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trusteewriting. The Company shall may remove the Trustee if:
(i) the Trustee fails to comply with Section 7.97.09;
(ii) the Trustee is adjudged bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. .
(b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, then outstanding or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall upon payment of all of its costs and the costs of its agents and counsel promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. 7.06.
(d) If a successor Trustee does not take office within 60 calendar days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in aggregate principal amount of the Notes then outstanding may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee Trustee, after written request by any Holder, fails to comply with Section 7.97.09, unless the Trustee’s duty to resign is stayed, any such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.07, the Company’s obligations under Section 7.6 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Castle a M & Co), Indenture (Mindspeed Technologies, Inc), Indenture (Castle a M & Co)
Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section 7.8. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities then outstanding may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor TrusteeTrustee with the Company's written consent. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. If a successor Trustee does not take office within 45 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in principal amount of the Securities then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10, any Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall, upon payment of its charges, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s 's obligations under Section 7.6 7.7 shall continue for the benefit of the retiring TrusteeTrustee with respect to expenses and liabilities incurred by it and compensation earned by it prior to such replacement or otherwise with respect to the Securities or the Indenture. A successor Trustee shall mail notice of its succession to each Holder of Securities.
Appears in 3 contracts
Samples: Indenture (Interpool Inc), Indenture (Interpool Inc), Indenture (Interpool Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.9SECTION 7.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6SECTION 7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s 's expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayedSECTION 7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s 's obligations under Section 7.6 SECTION 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Ne Restaurant Co Inc), Indenture (Bertuccis of White Marsh Inc), Indenture (Georgia Gulf Corp /De/)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany and the Guarantors in writing, such resignation to become effective upon the appointment of a successor Trustee. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company's written consent which consent shall not be unreasonably withheld. The Company shall may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (reason, the Issuers shall promptly appoint a successor Trustee. If a successor Trustee in such event being referred to herein as does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee), the Issuers or any Holder of outstanding Notes may petition at the expense of the Company shall promptly appoint any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.7 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Holder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s Issuers' obligations under Section 7.6 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Petro Financial Corp), Indenture (Petro Stopping Centers L P), Indenture (Petro Stopping Centers Holdings Lp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company’s written consent, which consent will not be unreasonably withheld. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.98.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of actingacting as trustee hereunder. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor TrusteeTrustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee Trustee, upon payment of its charges hereunder, shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in under Section 7.68.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.98.10, unless the Trustee’s duty to resign is stayedstayed as provided in TIA § 310(b), any Holder Holder, who has been a bona fide holder of a Security for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.78.8, the Company’s obligations under Section 7.6 8.7 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Deluxe Corp), Indenture (Deluxe Corp), Indenture (Deluxe Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holder or Holders of a majority in principal amount of the Notes then outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trusteewriting. The Company shall Company, by Board of Directors resolution, may remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver receiver, Custodian, or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of this Section 7.8. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holder or Holders of a majority in principal amount of then outstanding Securities may, with the Company's consent, appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately upon delivery of such notice and provided that all sums owing to the retiring Trustee provided for in Section 7.7 have been paid, the retiring Trustee shall transfer all property held by it as trustee to the successor Trustee, subject to the lien provided in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holder or Holders of at least 10% in principal amount of the Notes then outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any bona fide Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s 's obligations under Section 7.6 7.7 shall continue indefinitely for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Data Processing Resources Corp), Indenture (May & Speh Inc), Indenture (Oak Industries Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany and the Guarantors in writing. The Holders holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company’s written consent, which consent shall not be unreasonably withheld. The Company shall may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or;
(iv4) the Trustee otherwise becomes incapable of acting; or
(5) a successor corporation becomes successor Trustee pursuant to Section 7.09 below. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. If a successor Trustee does not take office within 30 days after such retiring Trustee resigns or is removed, the retiring Trustee (at the expense of the Company), the Company or the holders of a majority in principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to its rights, including its lien, under Section 7.07 hereof and payment of its charges hereunder, transfer all property held by it as Trustee to its successor, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach holder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the lien and the Company’s obligations under Section 7.6 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Skyterra Communications Inc), Indenture (Skyterra Communications Inc), Indenture (Skyterra Communications Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall Company, by a Board Resolution, may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of actingacting with respect to the Notes. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder in writing of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Company and thereupon the resignation or removal of the retiring Trustee shall become effectiveeffective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all rights, powers, trusts, duties and obligations of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such Trustee so ceasing to act hereunder subject nevertheless to its lien, if any, provided for in Section 7.07. Upon request of the Company or the successor Trustee, such retiring Trustee shall have at the expense of the Company and upon payment of the charges of the Trustee then unpaid, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and duties trusts of the Trustee under this Indenture. The retiring Trustee, and shall duly assign, transfer and deliver to such successor Trustee shall mail a notice of its succession to Holders. The all property and money held by such retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6hereunder. If a successor Trustee does not take office within 60 thirty (30) days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, at the Company's expense, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder who satisfies the requirements of TIA Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. The Company shall give notice of any resignation and any removal of the Trustee and each appointment of a successor Trustee to all Holders in writing. Each notice shall include the name of the successor Trustee and the address of its Corporate Trust Office. Notwithstanding the any resignation or replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Viskase Companies Inc), Indenture (Viskase Companies Inc)
Replacement of Trustee. No resignation or removal of the Trustee and no appointment of a successor Trustee shall become effective until the acceptance of appointment by the successor Trustee pursuant to this Section 8.08. The Trustee may resign at any time by so notifying the CompanyHedge Counterparties, if prior to the Class I Termination Date, and the Depositor. The Holders of a majority in principal amount of the Notes Majority Certificateholders may at any time remove the Trustee by so notifying the Company Hedge Counterparties, if prior to the Class I Termination Date, the Depositor and the Trustee in writing Trustee, and the Depositor may appoint a successor Trustee. The Company Depositor shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.98.11 hereof;
(iib) the Trustee is adjudged a bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its respective property; or
(ivd) the Trustee otherwise becomes incapable of actingacting as a trustee with trust powers. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Depositor shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee Trustee, the Back-up Servicer, the Depositor, the Rating Agencies and to the CompanyServicer. Thereupon Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee or under this IndentureAgreement. The successor Trustee shall mail a notice of its succession to HoldersHedge Counterparties, if prior to the Class I Termination Date, and the Certificateholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Depositor, the Trustee or the Holders of at least 10% in principal amount of the Notes Majority Certificateholders may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7, the Company’s obligations under Section 7.6 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Trust, Series 2007-1), Pooling and Servicing Agreement (Novastar Mortgage Funding Trust, Series 2007-1)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuer. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Issuer or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s Issuer's expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s Issuer's obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Hanover Compressor Co /), Indenture (Hanover Compressor Co /)
Replacement of Trustee. The Trustee may resign at any time with respect to the Securities of one or more series by so notifying the CompanyCorporation. The Holders of a majority in principal amount of the Notes Securities of any series may remove the Trustee with respect to that series by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Corporation’s consent. The Company shall Corporation may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company Corporation shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCorporation. Thereupon Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee for the benefit of the series with respect to which it is retiring to the successor Trustee, the resignation or removal of the retiring Trustee shall then become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this IndentureIndenture with respect to that series. The A successor Trustee shall mail a notice of its succession to Holderseach Holder of the Securities of the series affected. The retiring If pursuant to Section 2.3(5) a trustee, other than the Trustee initially named in this Indenture (or any successor thereto), is appointed with respect to one or more series of Securities, the Corporation, the Trustee initially named in this Indenture (or any successor thereto) and such newly appointed trustee shall promptly transfer execute and deliver a supplement to this Indenture which shall contain such provisions as shall be necessary or desirable to confirm that all property held by it as the rights, powers, trusts and duties of the Trustee initially named in this Indenture (or any successor thereto) with respect to the Securities of any series as to which the Trustee is continuing as trustee hereunder shall continue to be vested in the Trustee initially named in this Indenture (or any successor Trusteethereto), subject and shall add to, supplement or change any of the provisions of this Indenture as shall be necessary or desirable to provide for or facilitate the administration of the trusts hereunder by more than one trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such trustees co-trustees of the same trust and that each such trustee shall be trustee of a trust or trusts relating to the lien provided for in Section 7.6separate series of Securities as if it were acting under a separate indenture. If a successor Trustee with respect to a series of Securities does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Corporation or the Holders of at least 10% a majority in principal amount of the Notes Securities of that series may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee with respect to a series of Securities fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder of Securities of that series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of If there are two or more Trustees at any time under this Indenture, each will be the Trustee pursuant to of a separate trust held under this Section 7.7, the Company’s obligations under Section 7.6 shall continue Indenture for the benefit of the retiring Trusteeseries of Securities for which it is acting as Trustee and the rights and obligations of each Trustee will be determined as if it were acting under a separate indenture.
Appears in 2 contracts
Samples: Indenture (Martin Marietta Materials Inc), Indenture (Martin Marietta Materials Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolventinsolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the holders of a majority in principal amount of the Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to the Lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holderseach noteholder. The retiring Trustee shall promptly transfer all property held by it as Trustee Subject to the provisions of Section 7.09, no resignation or removal of the Trustee and no appointment of a successor Trustee, subject Trustee pursuant to this Section 7.08 shall become effective until the lien provided for in acceptance of appointment by the successor Trustee pursuant to this Section 7.67.08. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders holders of at least 10% in principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor TrusteeTrustee at the expense of the Company. If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Western Digital Corp), Indenture (WD Media, LLC)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuers in writing not less than 30 days prior to the effective date of such resignation. The Holders of a majority in principal amount of the Notes may remove the Trustee by so notifying the Company and the removed Trustee in writing not less than 30 days prior to the effective date of such removal and may appoint a successor TrusteeTrustee with the Issuers’ written consent, which consent will not be unreasonably withheld. The Company Issuers shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Issuers or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor TrusteeTrustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee; provided, however, that in case of a bankruptcy or insolvency, the resigning Trustee will have the right to appoint a successor Trustee within 10 business days after giving of such notice of resignation if the Issuers have not appointed a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s Issuers’ expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in TIA § 310(b), any Holder, who has been a bona fide Holder of a Note for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s Issuers’ obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Northern Tier Energy LLC), Indenture (Northern Tier Energy, Inc.)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyIssuer. The Holders of a majority in principal amount of the Notes Required Noteholder Parties may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if:
(i) the Trustee fails to comply with Section 7.911.10;
(ii) the Trustee is adjudged bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. .
(b) If the Trustee resigns or resigns, is removed by the Company Issuer or by the Holders of a majority in principal amount of the Notes Required Noteholder Parties and such Holders Noteholder Parties do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail (or otherwise deliver in accordance with the procedures of the Depository) a notice of its succession to Holdersthe Noteholder Parties. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.6. 11.07.
(d) If a successor Trustee Xxxxxxx does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed11.10, any Holder who has been a bona fide Holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the CompanyIssuer’s obligations under Section 7.6 11.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Fresh Market Holdings, Inc.), Indenture (Fresh Market Holdings, Inc.)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Secur ities then outstanding may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment appoint ment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Navigator Gas Iom I-E LTD), Indenture (Navigator Gas Iom I-E LTD)
Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.7. The Trustee may resign at any time without giving any reason and be discharged from the trust hereby created by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes then outstanding Bonds may remove the Trustee by so notifying the Company Trustee and the Trustee Company in writing and may appoint a successor Trusteewriting. The Company shall may remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.9;
(iib) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any bankruptcy law;
(iiic) a receiver Bankruptcy Custodian or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. Within one (1) year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Bonds may appoint a successor Trustee to replace the successor Trustee appointed by the Company. If a successor Trustee does not take office within thirty (30) days after the retiring Trustee resigns or is removed, the retiring Trustee may, on behalf of and at the expense of the Company, appoint a successor Trustee or the retiring Trustee, the Company, or the Holders of a majority in aggregate principal amount of the then outstanding Bonds, may, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor Trustee. No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall qualify under Section 7.9. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all of the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor TrusteeTrustee within five (5) Business Days after the date on which the resignation or removal of the retiring Trustee becomes effective, provided that all sums owing to the Trustee hereunder have been paid and subject to the lien Lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days Within five (5) Business Days after the resignation or removal of the retiring Trustee resigns or is removedTrustee, the retiring Trustee or the Company shall notify Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal replacement of the Trustee and the appointment name and location of a the successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7, the Company’s obligations under Section 7.6 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Replacement of Trustee. The Trustee may resign at any time with respect to the Securities of one or more Series by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes outstanding Securities of any Series may remove the Trustee with respect to that Series by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with respect to that Series with the Company's written consent, which consent shall not be unreasonably withheld. The Company shall may remove the Trustee with respect to that Series at its election if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(iii3) a receiver Custodian or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee with respect to any Series of Securities for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly notify each Holder of such event and shall promptly appoint a successor Trustee. If a successor Trustee with respect to the Securities of one or more Series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee with respect to the Securities of one or more Series fails to comply with Section 7.10 hereof, any Securityholder of the applicable Series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately following such delivery, the retiring Trustee with respect to one or more Series shall, subject to its rights under Section 7.7 hereof, transfer all property held by it as Trustee with respect to such Series to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee with respect to such Series shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee with respect to the Securities of one or more Series shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders each Securityholder of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7, the Company’s obligations under Section 7.6 shall continue for the benefit of the retiring Trusteesuch Series.
Appears in 2 contracts
Samples: Indenture (American Signs Inc), Indenture (Scenic Outdoor Marketing of Consulting Inc)
Replacement of Trustee. The Trustee (in its capacities as Trustee, Collateral Agent and Slot Trustee) may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes Securities Outstanding may remove the Trustee (in its capacities as Trustee, Collateral Agent and Slot Trustee) by so notifying the Company and the Trustee in writing and may appoint a successor TrusteeTrustee with the Company's consent, which consent shall not be unreasonably refused or delayed. The Company shall may remove the Trustee (in its capacities as Trustee, Collateral Agent and Slot Trustee) if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged a bankrupt or an insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property;
(d) the Trustee becomes incapable of acting; or
(ive) no Default or Event of Default has occurred and is continuing and the Trustee otherwise becomes incapable of actingCompany determines in good faith to remove the Trustee. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities Outstanding may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holderseach Securityholder. The retiring No resignation or removal of the Trustee shall promptly transfer all property held by it as Trustee to the and no appointment of a successor Trustee, subject pursuant to this Article, shall become effective until the lien provided for in acceptance of appointment by the successor Trustee under this Section 7.67.8. If a successor Trustee does not take office within 60 sixty (60) days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least ten percent (10% %) in principal amount of the Notes Securities Outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder of Securities may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s 's obligations under Section 7.6 7.7 shall continue for the benefit of the retiring TrusteeTrustee which shall retain its claim pursuant to Section 7.7.
Appears in 2 contracts
Samples: Indenture (Trans World Airlines Inc /New/), Indenture (Trans World Airlines Inc /New/)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in TIA Section 310(b), any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Pier 1 Imports Inc/De), Indenture (Pier 1 Imports Inc/De)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trusteetrustee with the Company's consent. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes legally incapable of actingacting with respect to its duties hereunder. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture; provided, however, that no Trustee under this Indenture shall be liable for any act or omission of any successor Trustee. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Securityholder. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the Notes outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring TrusteeTrustee and the Company shall pay to any such replaced or removed Trustee all amounts owed under Section 7.07 upon such replacement or removal.
Appears in 2 contracts
Samples: Indenture (Vs Holdings Inc), Indenture (Spanish Broadcasting System Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company Trustee and the Trustee in writing Company and may appoint a successor Trustee. The Company shall may remove the Trustee only if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. Notwithstanding the replacement of the Trustee pursuant to this Section, the Company's obligations under Section 7.07 shall continue for the benefit of the retiring Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7, the Company’s obligations under Section 7.6 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (International Wire Group Inc), Indenture (International Wire Rome Operations, Inc.)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holder or Holders of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trusteewriting. The Company shall Company, by Board Resolution, may remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.9;7.10; 44 52
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver receiver, Custodian, or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of this Section 7.8. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holder or Holders of a majority in principal amount of then outstanding Notes may, with the Company's consent, appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately upon delivery of such notice and provided that all sums owing to the retiring Trustee provided for in Section 7.7 have been paid, the retiring Trustee shall transfer all property held by it as trustee to the successor Trustee, subject to the lien provided in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holder or Holders of at least 10% in principal amount of the then outstanding Notes may petition, at the Company’s expense, expense of the Company petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any bona fide Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s 's obligations under Section 7.6 7.7 shall continue indefinitely for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Cellular Communications International Inc), Indenture (Cellular Communications International Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.96.10;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.66.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s 's expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.96.10, unless the Trustee’s 's duty to resign is stayedstayed as provided in TIA ss. 310(b), any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.76.08, the Company’s 's obligations under Section 7.6 6.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes Senior Subordinated Securities may remove the Trustee by so notifying the Company Trustee and the Trustee Company in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes Senior Subordinated Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in aggregate principal amount of the Notes Senior Subordinated Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's and the Guarantors' obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Cadmus Communications Corp/New), Indenture (Cadmus Communications Corp/New)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Company shall may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes may appoint a successor Trustee reasonably acceptable to the Company to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately thereafter, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Supplemental Indenture (Del Monte Foods Co), Indenture (Del Monte Foods Co)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuers. The Holders of a majority in principal amount of the Notes then outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company Issuers shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Issuers or by the Holders of a majority in principal amount of the Notes then outstanding Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes then outstanding Securities may petition, at the Company’s 's expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s 's duty to resign is stayedstayed as provided in TIA (S) 310(b), any Securityholder who has been a bona fide Holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s Issuers' obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Plains Resources Inc), Indenture (Plains Exploration & Production Co L P)
Replacement of Trustee. The Trustee and any Agent may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee or Agent by so notifying the Company and the Trustee or such Agent, as the case may be, in writing and may appoint a successor trustee or agent with the Company’s consent. A resignation or removal of the Trustee or any Agent and appointment of a successor Trustee or Agent, as the case may be, shall become effective only upon the successor Trustee’s or Agent’s acceptance of appointment, as the case may be, as provided in this section. The Company shall may remove the Trustee or an Agent if:
(i1) the Trustee or Agent, as the case may be, fails to comply with Section 7.97.10;
(ii2) the Trustee or Agent, as the case may be, is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee or Agent, as the case may be, under any Bankruptcy Law;
(iii3) a receiver or other public officer takes charge of the Trustee or Agent, as the case may be, or its respective property; or
(iv4) the Trustee otherwise or Agent, as the case may be, becomes incapable of actingacting with respect to its duties hereunder. If the Trustee or an Agent resigns or is removed by or if a vacancy exists in the office of Trustee or Agent for any reason, the Company shall notify each Holder of such event and shall promptly appoint a successor Trustee or by Agent, as the case may be. Within one year after the successor Trustee or Agent takes office, the Holders of a majority in principal amount of the then outstanding Notes and such Holders do not reasonably promptly may, with the Company’s consent, appoint a successor TrusteeTrustee or Agent, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)case may be, to replace the Company shall promptly appoint a successor TrusteeTrustee or Agent appointed by the Company. A successor Trustee or Agent, as the case may be, shall deliver a written acceptance of its appointment to the retiring Trustee or Agent and to the Company. Thereupon Immediately after that, the retiring Trustee or Agent, as the case may be, shall transfer, after payment of all sums then owing to the Trustee or Agent, as the case may be, pursuant to Section 7.7, all property held by it as Trustee or Agent to the successor Trustee or Agent, subject to the Lien provided in Section 7.7, the resignation or removal of the retiring Trustee or Agent, as the case may be, shall become effective, and the successor Trustee or Agent, as the case may be, shall have all the rights, powers and duties of the Trustee or Agent under this Indenture. The A successor Trustee or Agent shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee or Agent does not take office within 60 days after the retiring Trustee or Agent resigns or is removed, the retiring Trustee or Agent (as the case may be), the Company or the Holders of at least 10% in principal amount of the then outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor TrusteeTrustee or Agent. If the Trustee or Agent after written request by any Holder who has been a Holder for at least six months fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayed, any such Holder may petition any court of competent jurisdiction for the removal of the Trustee or Agent, as the case may be, and the appointment of a successor Trusteethereto. Notwithstanding the replacement of the Trustee or Agent pursuant to this Section 7.77.8, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring TrusteeTrustee or Agent, as the case may be, and the Company shall pay to any replaced or removed Trustee or Agent all amounts owed under Section 7.7 upon such replacement or removal.
Appears in 2 contracts
Samples: Dollar Indenture (JSG Acquisitions I), Euro Indenture (JSG Acquisitions I)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company Trustee and the Trustee Company in writing and may appoint a successor Trustee. The Company shall may remove the Trustee at its election if:
(ia) the Trustee fails to comply with Section 7.97.10;
(iib) the Trustee is adjudged a bankrupt or an insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a deliver notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Canandaigua B V), Indenture (SCV Epi Vineyards Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount at maturity of the outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall Company, by a Board Resolution, may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of actingacting with respect to the Notes. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder in writing of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount at maturity of the outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCompany and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all rights, powers, trusts, duties and obligations of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such Trustee so ceasing to act hereunder subject nevertheless to its lien, if any, provided for in Section 7.07. Thereupon Upon request of the Company or the successor Trustee, such retiring Trustee shall at the expense of the Company and upon payment of the charges of the Trustee then unpaid, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee, and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. Upon request of any such successor Trustee or the Holders of a majority in aggregate principal amount at maturity of the outstanding Notes, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 thirty (30) days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount at maturity of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder who satisfies the requirements of TIA Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. The Company shall give notice of any resignation and any removal of the Trustee and each appointment of a successor Trustee to all Holders in writing. Each notice shall include the name of the successor Trustee and the address of its Corporate Trust Office. Notwithstanding the any resignation or replacement of the Trustee pursuant to this Section 7.77.08, the Company’s 's obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (American Rock Salt Co LLC), Indenture (Telex Communications International LTD)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuer and the Guarantors in writing and without bearing any costs incurred with respect to such resignation. The Holders of a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company Issuer and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Issuer’s written consent, which consent shall not be unreasonably withheld. The Company shall Issuer may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or;
(iv4) the Trustee otherwise becomes incapable of acting; or
(5) where applicable, the Trustee would initiate or cause to have initiated proceedings pursuant to the Act on Court Confirmation of Extrajudicial Restructuring Plans. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company Issuer shall promptly appoint a successor Trustee. If a successor Xxxxxxx does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of a majority in principal amount of the outstanding Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 with respect to any series of Securities, Holders holding at least 10% in principal amount of the Securities of any series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with respect to the applicable series of Securities. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Holder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the CompanyIssuer’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (LKQ Corp), Indenture (Keystone Automotive Operations Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in at least seventy five (75%) percent of the aggregate principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall Company, by a Board Resolution, may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of actingacting with respect to the Notes. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder in writing of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCompany and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all rights, powers, trusts, duties and obligations of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such Trustee so ceasing to act hereunder subject nevertheless to its lien, if any, provided for in Section 7.07. Thereupon Upon request of the Company or the successor Trustee, such retiring Trustee shall at the expense of the Company and upon payment of the charges of the Trustee then unpaid, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee, and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. Upon request of any such successor Trustee or the Holders of a majority in aggregate principal amount of the outstanding Notes, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 thirty (30) days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder who satisfies the requirements of TIA Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. The Company shall give notice of any resignation and any removal of the Trustee and each appointment of a successor Trustee to all Holders in writing. Each notice shall include the name of the successor Trustee and the address of its Corporate Trust Office. Notwithstanding the any resignation or replacement of the Trustee pursuant to this Section 7.77.08, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Atlantic Express Transportation Corp), Indenture (Atlantic Paratrans of Arizona, Inc.)
Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.08.
(b) The Trustee may resign at any time with respect to the Securities of any Series by so notifying the Company. The Holders of a majority in principal amount of the Notes then-outstanding Securities of any Series may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor TrusteeTrustee with respect to such Series of Securities. The Company shall remove the Trustee if:
(i) the Trustee fails to comply with Section 7.97.10;
(ii) the Trustee is adjudged bankrupt or insolventinsolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(iii) a receiver custodian or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. .
(c) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes then-outstanding Securities of any Series and such Holders do not reasonably promptly appoint a successor Trustee, Trustee or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then-outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company.
(d) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail send a notice of its succession to HoldersHolders of that Series of Securities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. 7.07.
(e) If a successor Trustee Xxxxxxx does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes then-outstanding Securities of such Series may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. .
(f) If the Trustee fails to comply with Section 7.97.10, unless after written notice hereto, the Trustee’s duty to resign is stayed, any Holder Holders of at least 10% in principal amount of that Series of Securities may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(g) Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Crown Castle International Corp), Indenture (Crown Castle International Corp)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes outstanding Securities may remove the Trustee by so notifying the Company Trustee and the Trustee Company in writing and may appoint a successor TrusteeTrustee with the Company's written consent. The Company shall may remove the Trustee if:
(i) the Trustee fails to comply with Section 7.98.10;
(ii) the Trustee is adjudged a bankrupt or an insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. .
(b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately thereafter, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 8.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. each Securityholder.
(d) If a successor Trustee does not take office within 60 days after the retiring or removed Trustee resigns or is removed, the retiring Trustee or removed Trustee, the Company or the Holders of at least 10% a majority in principal amount of the Notes outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed8.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.78.08, the Company’s 's obligations under Section 7.6 8.07 shall continue for the benefit of the retiring or removed Trustee.
Appears in 2 contracts
Samples: Indenture (Specialty Chemical Resources Inc), Indenture (Specialty Chemical Resources Inc)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall may remove the Trustee if:
(i) the Trustee fails to comply with Section 7.97.10;
(ii) the Trustee is adjudged bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA and this Indenture.
(b) If the Trustee resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.6. 7.07.
(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Delta Tucker Holdings, Inc.), Indenture (Worldwide Recruiting & Staffing Services LLC)
Replacement of Trustee. (a) The Trustee may resign at any time by so notifying written notice to the Company. The Holders of a majority in remaining principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and written notice to the Trustee in writing and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Company shall may remove the Trustee if:
(i1) the Trustee (A) fails to comply with Section 7.9, (B) does not have a corporate trust office in the City of New York, New York or (C) has a Conflicting Interest following the occurrence and continuation of an Event of Default;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. .
(b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the outstanding Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall use its commercially reasonable efforts to promptly appoint a successor Trustee. .
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail give a notice of its succession to Holders. The retiring Trustee Trustee, upon payment of its charges, shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.6. .
(d) If a successor Trustee Xxxxxxx does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.7, the Company’s obligations under Section 7.6 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Replacement of Trustee. The Trustee may resign at any time by so notifying upon 30 days’ written notice to the CompanyCo-Issuers in writing. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying upon 30 days written notice to the Company Co-Issuers and the Trustee in writing and may appoint a successor TrusteeTrustee (which Trustee shall be reasonably acceptable to the Co-Issuers). The Company shall Co-Issuers may remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of actingacting as Trustee hereunder. If the Trustee resigns or is removed by or if a vacancy exists in the Company or by office of the Trustee for any reason, the Co-Issuers shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes and such Holders do not reasonably promptly may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee for any reason (appointed by the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor TrusteeCo-Issuers. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCo-Issuers. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee hereunder and under the Security Documents to the successor Trustee, subject to the Lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall deliver electronically or mail a notice of its succession to Holderseach Holder. The retiring Any resignation or removal of the Trustee pursuant to this Indenture shall promptly transfer all property held by it be deemed to be a resignation or removal of the Trustee under the Security Documents and any appointment of a successor Trustee pursuant to this Indenture shall be deemed to be an appointment of such person as Trustee a successor to the Trustee under the Security Documents and such successor Trustee, subject to shall assume all of the lien provided for in Section 7.6obligations of the Trustee under the Security Documents. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Co-Issuers or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the Company’s expenseexpense of the Co-Issuers, any court of competent jurisdiction for the appointment of a successor TrusteeTrustee at the expense of the Co-Issuers. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s Co-Issuers’ obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Navios Maritime Holdings Inc.), Indenture (Navios Maritime Acquisition CORP)
Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany and the Guarantors in writing. The Holders of a majority in principal amount of the outstanding Notes may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company's written consent, which consent shall not be unreasonably withheld. The Company shall may remove the Trustee at its election if:
(i1) the Trustee fails to comply with Section 7.97.10 hereof;
(ii2) the Trustee is adjudged a bankrupt or an insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Noteholder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.08, the Company’s Company obligations under Section 7.6 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Oglebay Norton Co /New/), Indenture (Ski Lifts Inc)
Replacement of Trustee. The Trustee may resign at any time ---------------------- by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount at maturity of the outstanding Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor trustee with the Company's consent. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this section. The Company shall may remove the Trustee if:
(i) the Trustee fails to comply with Section 7.97.10;
(ii) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(iii) a receiver or other public officer takes charge of the Trustee or its property; or
(iv) the Trustee otherwise becomes incapable of actingacting with respect to its duties hereunder. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount at maturity of the then outstanding Notes may, with the Company's consent, appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.7, all property held by it as Trustee to the successor Trustee, subject to the Lien provided in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount at maturity of the then outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee after written request by any Holder who has been a Holder for at least six months fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayed, any such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s 's obligations under Section 7.6 7.7 shall continue for the benefit of the retiring TrusteeTrustee and the Company shall pay to any replaced or removed Trustee all amounts owed under Section 7.7 upon such replacement or removal.
Appears in 2 contracts
Samples: Indenture (Cybernet Internet Services International Inc), Indenture (Cybernet Internet Services International Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying upon 60 days’ prior written notice to the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7 . If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.97.10, unless the Trustee’s duty to resign is stayedstayed as provided in TIA § 310(b), any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.77.8, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Trinity Industries Inc), Indenture (Trinity Industries Inc)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(ia) the Trustee fails to comply with Section 7.97.09;
(iib) the Trustee is adjudged bankrupt or insolvent;
(iiic) a receiver or other public officer takes charge of the Trustee or its property; or
(ivd) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.06. If a successor Trustee Xxxxxxx does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor TrusteeTrustee at the expense of the Company. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.09, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Viavi Solutions Inc.), Indenture (Viavi Solutions Inc.)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes then outstanding Securities may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolventinsolvent or an order for relief is entered with respect to the Trustee under Bankruptcy Law;
(iii3) a Custodian, receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of actingacting as trustee hereunder. If the Trustee resigns or is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes then outstanding Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (NBC Acquisition Corp), Indenture (New Nebraska Book Company, Inc.)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes Securities may remove the Trustee by so notifying the Company and the Trustee in writing with 60 days advance notice and may appoint a successor Trustee. The Company shall remove the Trustee if:
(i1) the Trustee fails to comply with Section 7.97.10;
(ii2) the Trustee is adjudged bankrupt or insolvent;
(iii3) a receiver or other public officer takes charge of the Trustee or its property; or
(iv4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.67.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.9, unless the Trustee’s duty to resign is stayed7.10, any Holder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.7Section, the Company’s obligations under Section 7.6 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Consolidated Natural Gas Co/Va), Indenture (Dominion Resources Inc /Va/)