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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The Issuers may remove the Trustee if: (a) the Trustee fails to comply with Section 7.10 hereof; (b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or (d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 Issuers. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 11 contracts
Samples: Indenture (Crosstex Energy Lp), Indenture (Chesapeake Midstream Partners Lp), Indenture (Chesapeake Midstream Partners Lp)
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuers in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee Issuers and the Issuers Trustee upon 30 days’ prior notice in writing and may appoint a successor trustee with the consent of the IssuersTrustee. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereofSection 8.10;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Lawinsolvent;
(c) a receiver, Custodian receiver or other public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 Issuers. ThereuponImmediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 8.07, 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 each Holder. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of at least 10% in principal amount of the Notesoutstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Issuers. The retiring If the Trustee shall promptly transfer all property held by it as fails to comply with Section 8.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee to and the appointment of a successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08Section 8.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 10 contracts
Samples: Indenture (JBS S.A.), Indenture (JBS S.A.), Indenture (JBS Holding Luxembourg S.A R.L.)
Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. Section 7.08.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers; and any such notice shall set forth the effective date of the Trustee’s resignation. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a1) the Trustee fails to comply with satisfy the requirements of Section 7.10 hereof;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers shall will 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 then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. .
(d) If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuers, or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with satisfy the requirements of Section 7.10 hereof, such Holder of a Note 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 will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. 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 of the NotesHolders. The retiring Trustee shall will promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall will continue for the benefit of the retiring Trustee.
Appears in 9 contracts
Samples: Indenture (Targa Resources Partners LP), Indenture (Targa Resources Partners LP), Indenture (Targa Resources Partners LP)
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 in writing upon 30 days notice at any time upon 30 days’ prior notice to the Company and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reasonreason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six monthsmonths or is an initial Holder of the Notes, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersCompany. 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 of Holders. Subject to the Notes. The Lien provided for in Section 7.07 hereof, the retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 8 contracts
Samples: Indenture (Mci Inc), Indenture (Mci Inc), Indenture (Intermedia Communications 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 SectionSection 7.06. The Trustee may resign in writing upon 30 days notice at any time by giving written notice to the Issuer and be discharged from the trust hereby created by so notifying the IssuersHolders. The Holders of Notes of a majority in outstanding principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersIssuer. The Issuers may Issuer shall remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof7.08;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Lawinsolvent;
(c) a receiver, Custodian receiver or other public officer takes charge of the Trustee or its property; or
(d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed removed, or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a the successor Trustee does not take office deliver its written acceptance required by the next succeeding paragraph of this Section 7.06 within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuer or the Holders of Notes of at least 10% a majority in principal amount of the then outstanding Notes may may, at the expense of the Issuer, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 Trustee, as the case may be, and to the IssuersIssuer. Thereupon, Thereupon the resignation or removal of the retiring Trustee shall become effective, the retiring Trustee shall be released from its obligations hereunder, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail deliver a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall shall, at the expense of the Issuer, promptly transfer all property held by it as Trustee to the successor Trustee, ; provided that all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.05. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 30% in outstanding principal amount of the Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Issuer. Without prejudice to the right of the Issuer to appoint a successor Trustee in accordance with the provisions of this Indenture, the retiring Trustee may appoint a successor Trustee at any time prior to the date on which a successor Trustee takes office. If the Trustee fails to comply with Section 7.08, 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 7.087.06, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof 7.05 shall continue for the benefit of the retiring Trustee.
Appears in 8 contracts
Samples: Indenture (Royal Caribbean Cruises LTD), Indenture (Royal Caribbean Cruises LTD), Indenture (Royal Caribbean Cruises 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 and taking of office as provided in this SectionSection 8.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 8.10 hereof;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy LawCode;
(c3) a custodian, receiver, Custodian trustee, assignee, liquidator or similar official under any Bankruptcy Code or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Company shall promptly appoint a successor Trustee. If a successor Trustee is appointed and does not take office within thirty (30) days after the retiring Trustee resigns, the retiring Trustee may appoint a successor Trustee at any time prior to the date on which a successor Trustee takes office. If a successor Trustee does not take office within sixty (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 then outstanding Notes may petition any court of competent jurisdiction, at the expense of the Company, 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 8.10 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Within one year after the successor Trustee appointed by the Company or a court pursuant to this Section 8.08 takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersCompany. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 8.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.088.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 8.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 8 contracts
Samples: Indenture (FiberTower CORP), Indenture (FiberTower CORP), Indenture (FiberTower CORP)
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 in writing upon 30 thirty (30) days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction jurisdiction, at the expense of the Issuers, for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 Issuers. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 7 contracts
Samples: Indenture (Linn Energy, LLC), Indenture (Linn Energy, LLC), Indenture (EV Energy Partners, LP)
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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof7.10;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or other public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Issuers Issuer 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 then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder under this Indenture have been paid and subject to the Lien provided for in Section 7.07 hereof7.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 7 contracts
Samples: Indenture (FTAI Infrastructure LLC), Indenture (Fortress Transportation & Infrastructure Investors LLC), Indenture (Fortress Transportation & Infrastructure Investors LLC)
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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereofhereof or Trust Indenture Act Section 310;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Notes, may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 7 contracts
Samples: Indenture (APX Group Holdings, Inc.), Indenture (APX Group Holdings, Inc.), Indenture (APX Group Holdings, 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 such appointment as provided in this Section. Section 7.08.
(b) The Trustee may may, upon 30 days’ written notice to the Company, resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(bi) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(cii) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(diii) the Trustee becomes incapable of acting. acting as Trustee hereunder or with respect to the Notes.
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Company.
(d) If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, (i) the retiring TrusteeTrustee (at the Company’s expense), the Issuers Company or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If Trustee or (ii) the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note retiring Trustee may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of appoint a successor Trustee. Trustee at any time prior to the date on which a successor Trustee takes office, provided that such appointment shall be reasonably satisfactory to the Company.
(e) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee and execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 7 contracts
Samples: Indenture (Viavi Solutions Inc.), Indenture (Belden Inc.), Indenture (Belden 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 SectionSection 7.8. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and the duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided that all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 7.7 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ Issuer’s obligations under and the Guarantors’ obligations under Lien provided for in Section 7.07 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 6 contracts
Samples: Indenture (Jack Cooper Holdings Corp.), Indenture (Jack Cooper Logistics, LLC), Indenture (Carrols Restaurant Group, 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersCompany. The Issuers Company may remove the Trustee if:
: (ai) the Trustee fails to comply with Section 7.10 hereof;
7.10; (bii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
; (ciii) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
or (div) the Trustee becomes incapable of actingperforming the services of the Trustee hereunder. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, ; provided that the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the any successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 hereof7.10, such any Holder of a Note 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 IssuersCompany. Thereupon, the resignation or removal of the retiring Trustee shall become effective, 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 appointment to Holders of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it holds as Trustee to the successor Trustee, ; provided that all sums owing to the retiring Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereofpaid. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof shall continue for the retiring Trustee’s benefit of with respect to expenses and liabilities relating to the retiring Trustee’s activities prior to being replaced.
Appears in 6 contracts
Samples: Indenture (E.W. SCRIPPS Co), Indenture (E.W. SCRIPPS Co), Indenture (E.W. SCRIPPS 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. The Trustee may resign in writing upon 30 days days’ notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 Issuers. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 6 contracts
Samples: Indenture (Global Partners Lp), Indenture (Global Partners Lp), Indenture (Legacy Reserves 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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer at least thirty (30) days prior to the date of the proposed resignation. The Holders of Notes of at least a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee Issuer and the Issuers in writing Trustee and may appoint a successor trustee with the consent of the IssuersTrustee. The Issuers Issuer may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.10;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Lawinsolvent;
(c3) a receiver, Custodian receiver or other public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. If the Trustee resigns retires, whether by resignation or is removed removal, or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one (1) year after the successor Trustee takes office, the Holders of at least a majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeIssuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. ThereuponPromptly after that, the retiring Trustee shall transfer, and 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, 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 with respect to the Notes under this Indenture. The A successor Trustee shall mail a notice of its succession to each Holder. If a successor Trustee does not take office within sixty (60) days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least ten percent (10%) in principal amount of the Notesthen outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Issuer. The retiring If the Trustee shall promptly transfer all property held by it as fails to comply with Section 7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee to and the appointment of a successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement the appointment of the a successor Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 6 contracts
Samples: Supplemental Indenture (Alere Inc.), Sixteenth Supplemental Indenture (Alere Inc.), Ninth Supplemental Indenture (Alere 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time by giving 30 days prior written notice of such resignation to the Issuer and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; provided, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 6 contracts
Samples: Indenture (Energy Future Intermediate Holding CO LLC), Indenture (Energy Future Intermediate Holding CO LLC), Indenture (Energy Future Intermediate Holding CO LLC)
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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice with respect to one or more or all series of Securities at any time and be discharged from the trust hereby created by so notifying the IssuersCompany in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes Securities of any series may remove the Trustee with respect to such series by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails ceases to comply be eligible in accordance with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes Securities of a series may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany with respect to that series of Securities. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note Security who has been a Holder of a Note Security for at least six months, fails ceases to comply be eligible in accordance with Section 7.10 hereof7.10, such Holder of a Note Security 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 IssuersCompany. 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 of the NotesSecurities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. If a successor Trustee is appointed with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of any applicable series shall execute and deliver an indenture supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of any series as to which the predecessor Trustee is not retiring shall continue to be vested in the predecessor Trustee, and 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, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees as co-trustees of the same trust and that each such Trustee shall be Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee.
Appears in 6 contracts
Samples: Indenture (Annuity & Life Re Holdings LTD), Senior Subordinated Indenture (Kulicke & Soffa Industries Inc), Subordinated Indenture (Pennsylvania Real Estate Investment Trust)
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee and appoint a successor Trustee with the Issuer’s consent, by so notifying the Trustee Issuer and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersTrustee. The Issuers Issuer may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.10;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Lawinsolvent;
(c3) a receiver, Custodian receiver or other public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeIssuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. ThereuponImmediately 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 Issuer shall mail notice of such successor Trustee’s appointment to each Holder. If a successor Trustee shall mail a notice of its succession to does not take office within 45 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10% in aggregate principal amount of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee, provided all sums owing to . If the Trustee hereunder have been paid fails to comply with Section 7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and subject to the Lien provided for in Section 7.07 hereofappointment of a successor Trustee. Notwithstanding any resignation or replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (Chaparral Energy, Inc.), Indenture (Chaparral Energy, Inc.), Indenture (Atp Oil & Gas Corp)
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. Section 7.08.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee with respect to the Notes and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(ai) the Trustee fails to comply with Section 7.10 hereof7.10;
(bii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(ciii) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(div) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes may appoint a successor Trustee with respect to the Notes to replace the successor Trustee appointed by the Issuers. Company.
(d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of the Notes of at least 10% in principal amount of the then outstanding Notes may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. Trustee with respect to the Notes.
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note Notes for at least six three months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Trustee with respect to the Notes.
(f) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. 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 a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (Range Resources Corp), Indenture (Range Resources Corp), Indenture (Range Resources Corp)
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuers’ expense), the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 Issuers. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (Calumet Specialty Products Partners, L.P.), Indenture (Calumet Specialty Products Partners, L.P.), Indenture (Calumet Specialty Products Partners, L.P.)
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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and the Registrar, Paying Agent and Transfer Agent may resign with 60 days’ prior written notice and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee remove the Registrar, Paying Agent or Transfer Agent by so notifying such Registrar, Paying Agent or Transfer Agent, as applicable, with the consent of the Issuers90 days’ prior written notice. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof7.10;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuers’ expense), the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 Issuers. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. As used in this Section 7.08, the term “Trustee” shall also include each of the Paying Agent, Registrar and Transfer Agent, as applicable.
Appears in 5 contracts
Samples: Indenture (Constellium N.V.), Indenture (Constellium N.V.), Indenture (Tops Markets Ii Corp)
Replacement of Trustee. The Trustee may resign at any time by so notifying the Company in writing at least 30 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 Trustee and may appoint a successor Trustee. The Company may remove the Trustee if:
(A) the Trustee fails to comply with Section 7.10;
(B) the Trustee is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(C) a receiver or other public officer takes charge of the Trustee or its property; or
(D) the Trustee becomes incapable of acting. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed as Trustee or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeCompany. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. ThereuponImmediately 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 each Holder. 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 Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee, provided all sums owing to . If the Trustee hereunder have been paid fails to comply with Section 7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and subject to the Lien provided for in Section 7.07 hereofappointment of a successor Trustee. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 5 contracts
Samples: Indenture (Amida Industries Inc), Indenture (Terex Corp), Indenture (Wellman North America 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 SectionSection 7.8. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 all outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeIssuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. ThereuponPromptly 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 each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10% in aggregate principal amount of all outstanding Notes may petition any court of competent jurisdiction for the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the appointment of a successor Trustee, provided all sums owing to . If the Trustee hereunder have been paid fails to comply with Section 7.10 hereof, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and subject to the Lien provided for in Section 7.07 hereofappointment of a successor Trustee. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Triumph Group Inc), Indenture (Triumph Group Inc), Indenture (Rock-Tenn 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 SectionSECTION 7.8. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section SECTION 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 all outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeIssuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. ThereuponPromptly 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 each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10% in aggregate principal amount of all outstanding Notes may petition any court of competent jurisdiction for the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the appointment of a successor Trustee, provided all sums owing to . If the Trustee hereunder have been paid fails to comply with SECTION 7.10 hereof, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and subject to the Lien provided for in Section 7.07 hereofappointment of a successor Trustee. Notwithstanding replacement of the Trustee pursuant to this Section 7.08SECTION 7.8, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 SECTION 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Triumph Group Inc), Indenture (Triumph Group Inc), Indenture (Triumph Group 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 SectionSection 7.07. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with satisfy the eligibility requirements set forth in Section 7.10 hereof7.09;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.09, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.06. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (BMC Stock Holdings, Inc.), Indenture (Patheon Holdings Cooperatief U.A.), Indenture (Patheon Holdings Cooperatief U.A.)
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 SectionSection 7.7. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersCompany. The Issuers may Company shall remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof7.9;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Lawinsolvent;
(c) a receiver, Custodian receiver or other public officer takes charge of the Trustee or its property; or
(d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed removed, or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a the successor Trustee does not take office deliver its written acceptance required by the next succeeding paragraph of this Section 7.7 within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% a majority in principal amount of the then outstanding Notes may may, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersCompany. 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 under this Indenture. The successor Trustee shall mail a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, provided all sums owing to the retiring Trustee, the Company or the Holders of at least 25% in principal amount of outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Company. If the Trustee hereunder have been paid fails to comply with Section 7.9, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and subject to the Lien provided for in Section 7.07 hereofappointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.7, the Issuers’ Company’s and the Subsidiary Guarantors’ obligations under Section 7.07 hereof 7.6 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De)
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuer, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes or the Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersIssuer. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided that all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Gannett Co., Inc.), Indenture (Arconic Corp), Indenture (Arconic 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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice with respect to one or more or all series of Securities at any time and be discharged from the trust hereby created by so notifying the IssuersCompany in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes Securities of any series may remove the Trustee with respect to such series by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails ceases to comply be eligible in accordance with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes Securities of a series may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany with respect to that series of Securities. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note Security who has been a Holder of a Note Security for at least six months, fails ceases to comply be eligible in accordance with Section 7.10 hereof7.10, such Holder of a Note Security 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 IssuersCompany. 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 of the NotesSecurities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided PROVIDED all sums owing to the Trustee hereunder have been paid and subject to the Lien lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. If a successor Trustee is appointed with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of any applicable series shall execute and deliver an indenture supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of any series as to which the predecessor Trustee is not retiring shall continue to be vested in the predecessor Trustee, and 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, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees as co-trustees of the same trust and that each such Trustee shall be Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee.
Appears in 4 contracts
Samples: Senior Indenture (Harleysville Group Inc), Subordinated Indenture (Harleysville Group Inc), Senior Subordinated Indenture (Harleysville Group Inc)
Replacement of Trustee. (a) The Trustee may resign at any time by giving 30 days prior written notice to the Issuer.
(i) The Holders of a Majority in principal amount of the outstanding Notes may remove the Trustee by 30 days prior written notice to the Trustee.
(ii) The Issuer may remove the Trustee if: (A) the Trustee is adjudged a bankrupt or an insolvent; (B) a receiver or other public officer takes charge of the Trustee or its property; or (C) the Trustee becomes incapable of acting. 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 Section 7.07.
(b) If the Trustee may resign in writing upon 30 days notice at any time and be discharged from has been removed by the trust hereby created by so notifying the Issuers. The Holders, Holders of Notes of a majority Majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee Trustee with the consent of the IssuersIssuer. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiverOtherwise, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If if the Trustee resigns or is removed removed, or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer shall promptly appoint a successor Trustee. Within one year after ; provided, however, that, in the successor case of a resignation of the Trustee takes officein connection with a bankruptcy of the Issuer, the Holders of a majority in principal amount of Trustee will have the then outstanding Notes may right to appoint a successor Trustee to replace the if no successor Trustee is appointed by the Issuerswithin 10 Business Days of notice of such resignation. If a the successor Trustee does not take office deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the expense of the Issuer), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If .
(c) Upon delivery by the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 of a written acceptance of its appointment to the retiring Trustee and to the Issuers. ThereuponIssuer, (i) the retiring Trustee shall transfer all money or property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.06, (ii) the resignation or removal of the retiring Trustee shall become effective, and (iii) the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The Upon the reasonable request of any successor Trustee Trustee, the Issuer and each Note Guarantor shall mail a notice of its succession to Holders of the Notes. The retiring Trustee shall promptly transfer execute any and all property held by it as Trustee instruments for fully vesting in and confirming to the successor TrusteeTrustee all such rights, provided all sums owing to powers and trusts. The Issuer shall give notice of any resignation and any removal of the Trustee hereunder have been paid and subject each appointment of a successor Trustee to all Holders, and include in the Lien provided for in Section 7.07 hereof. notice the name of the successor Trustee and the address of its Corporate Trust Office.
(d) Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Enduro SpA), Indenture (Emeco Parts Pty LTD), Indenture (Emeco Parts Pty 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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuers, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 Issuers. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ ' obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Anthony Crane Holdings Capital Corp), Indenture (National Crane Corp), Indenture (Anthony Crane Sales & Leasing Lp)
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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes Debentures of a majority in principal amount of the then outstanding Notes Debentures may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Debentures may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuers, or the Holders of Notes Debentures of at least 10% in principal amount of the then outstanding Notes Debentures may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note Debenture who has been a Holder of a Note Debenture for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note Debenture 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 Issuers. 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 of the NotesDebentures. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ ' obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Anthony Crane Holdings Capital Corp), Indenture (Grove Holdings Capital Inc), Indenture (Anthony Crane Sales & Leasing Lp)
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 SectionSection 7.8. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuers in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof7.10;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the 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 all outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 Issuers. ThereuponPromptly 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 deliver notice of its succession to each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of at least 10% in aggregate principal amount of all outstanding Notes may petition any court of competent jurisdiction for the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the appointment of a successor Trustee, provided all sums owing to . If the Trustee hereunder have been paid fails to comply with Section 7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and subject to the Lien provided for in Section 7.07 hereofappointment of a successor Trustee. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 4 contracts
Samples: Indenture (Ryerson Holding Corp), Indenture (Ryerson Holding Corp), Indenture (Ryerson International Material Management Services, 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof7.10;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or other public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Issuers Issuer 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 then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee Xxxxxxx does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder under this Indenture have been paid and subject to the Lien provided for in Section 7.07 hereof7.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (FTAI Aviation Ltd.), Indenture (FTAI Aviation Ltd.), Indenture (FTAI Aviation 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. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee and appoint a successor Trustee with the Issuer’s consent, by so notifying the Trustee Issuer and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersTrustee. The Issuers Issuer may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.10;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Lawinsolvent;
(c3) a receiver, Custodian receiver or other public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeIssuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. ThereuponImmediately 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 Issuer shall mail notice of such successor Trustee’s appointment to each Holder. If a successor Trustee shall mail a notice of its succession to does not take office within 45 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10% in aggregate principal amount of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to outstanding Notes may, at the expense of the Issuer, petition any court of competent jurisdiction for the appointment of a successor Trustee, provided all sums owing to . If the Trustee hereunder have been paid fails to comply with Section 7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and subject to the Lien provided for in Section 7.07 hereofappointment of a successor Trustee. Notwithstanding any resignation or replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Supplemental Indenture (GMX Resources Inc), Indenture (GMX Resources Inc), Indenture (GMX Resources 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 SectionSection 7.08. The Trustee may resign in writing at any time upon 30 days prior notice at any time to the Issuers and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reasonreason (the Trustee in such event being referred to herein as the “retiring Trustee”), the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuers, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Notes, may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction jurisdiction, at the expense of the Issuers, 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 Issuers. 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 of Holders. Subject to the Notes. The Lien provided for in Section 7.07 hereof, the retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
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 SectionSection 7.8. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof7.10;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 all outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeIssuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. ThereuponPromptly 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 deliver notice of its succession to each Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10% in aggregate principal amount of all outstanding Notes may petition any court of competent jurisdiction for the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the appointment of a successor Trustee, provided all sums owing to . If the Trustee hereunder have been paid fails to comply with Section 7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and subject to the Lien provided for in Section 7.07 hereofappointment of a successor Trustee. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ Issuer’s and the Guarantors’ obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Spirit AeroSystems Holdings, Inc.), Indenture (Spirit AeroSystems Holdings, Inc.), Indenture (Spirit AeroSystems Holdings, 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 SectionSection 5.9. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany in writing. The Holders of Notes of at least a majority in of the principal amount of the then outstanding Notes Outstanding Debentures may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may Company must remove the Trustee if:
(ai) the Trustee fails to comply with Section 7.10 hereof5.11 hereof or Section 310 of the TIA;
(bii) the Trustee becomes incapable of acting;
(iii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;; or
(civ) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Issuers Company shall promptly appoint a successor Trustee. The Trustee shall be entitled to payment of its fees and reimbursement of its expenses while acting as Trustee. Within one year after the successor Trustee takes office, the Holders of at least a majority in of the principal amount of the then outstanding Notes Outstanding Debentures may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee if the Trustee fails to comply with Section 5.11. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation or removal, the resigning or removed Trustee, as applicable, may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. 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 under this Indenture. The successor Trustee Company shall mail issue a notice of its the successor Trustee’s succession to Holders the Holders. Upon payment of its charges, the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing subject nevertheless to the Trustee hereunder have been paid and subject to the Lien its lien, if any, provided for in Section 7.07 5.8 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.085.9 hereof, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 5.8 hereof shall continue for the benefit of the retiring TrusteeTrustee with respect to expenses, losses and liabilities incurred by it prior to such replacement.
Appears in 3 contracts
Samples: Indenture (Apogent Technologies Inc), Indenture (Apogent Technologies Inc), Indenture (Apogent Technologies 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time by giving 30 days prior written notice of such resignation to the Issuer and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee Xxxxxxx does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; provided, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Energy Future Intermediate Holding CO LLC), Indenture (EFIH Finance Inc.), Indenture (EFIH Finance Inc.)
Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. Section 7.08.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers; and any such notice shall set forth the effective date of the Trustee’s resignation. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a1) the Trustee fails to comply with satisfy the requirements of Section 7.10 hereof;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers shall will 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 then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. .
(d) If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuers, or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with satisfy the requirements of Section 7.10 hereof, such Holder of a Note 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 will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. 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 will mail a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall will promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall will continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Targa Resources Partners LP), Indenture (Targa Resources Partners LP), Indenture (Targa Resources Partners LP)
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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuers, the Parent Guarantor, any Subsidiary Guarantor or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 Issuers. 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 the Indenture. The successor Trustee shall mail a notice of its succession to Holders of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ ’, the Parent Guarantor’s and the Subsidiary Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Cloud Peak Energy Inc.), Indenture (Sequatchie Valley Coal Corp), Indenture (Antelope Coal LLC)
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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersCompany. The Issuers Company may remove the Trustee if:
: (ai) the Trustee fails to comply with Section 7.10 hereof;
7.10; (bii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
; (ciii) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
or (div) the Trustee becomes incapable of actingperforming the services of the Trustee hereunder. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, ; provided that the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the any successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 hereof7.10, such any Holder of a Note 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 IssuersCompany. Thereupon, the resignation or removal of the retiring Trustee shall become effective, effective and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail deliver a notice of its succession appointment to Holders of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it holds as Trustee to the successor Trustee, ; provided that all sums owing to the retiring Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereofpaid. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof shall continue for the retiring Trustee’s benefit of with respect to expenses and liabilities relating to the retiring Trustee’s activities prior to being replaced.
Appears in 3 contracts
Samples: Indenture (Gray Television Inc), Indenture (Gray Television Inc), Indenture (Gray Television 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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes Securityholders of a majority in principal amount of the then outstanding Notes Securities may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersIssuer. The Issuers Issuer may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.10;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders Securityholders of a majority in principal amount of the then outstanding Notes Securities may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, Sweetheart Holdings, the Issuers Issuer or the Holders of Notes Securityholders of at least 10% in principal amount of the then outstanding Notes Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note Securityholder who has been a Holder of a Note Securityholder for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersIssuer. 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 of the NotesSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, . the Issuers’ and the Guarantors’ Issuer's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Sweetheart Holdings Inc \De\), Indenture (Sweetheart Holdings Inc \De\), Indenture (Sweetheart Holdings Inc \De\)
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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time by giving 30 days prior written notice of such resignation to the Issuer and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; provided, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. No resigning or removed Trustee shall have any responsibility or liability for the action or inaction of any successor Trustee.
Appears in 3 contracts
Samples: Indenture (Laureate Education, Inc.), Indenture (Laureate Education, Inc.), Indenture (Laureate Education, 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. (a) The Trustee may resign in writing upon 30 days notice with respect the Notes at any time by giving 30 days’ prior notice of such resignation to the Issuer and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee with respect to the Notes by so notifying the Trustee and the Issuers Issuer 30 days prior in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may Issuer shall remove the Trustee with respect to the Notes if:
(ai) the Trustee fails to comply with is no longer eligible under Section 7.10 hereof7.9;
(bii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(ciii) a receiver, Custodian receiver or public officer takes charge of the Trustee or its property; or
(div) the Trustee otherwise becomes incapable of acting.
(b) If, with respect the Notes, the Trustee resigns or has been removed by the Holders, Holders of a majority in principal amount of the outstanding Notes may appoint a successor Trustee with respect to the Notes. If Otherwise, if the Trustee resigns or is removed (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 Issuers Issuer 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 then outstanding Notes may appoint a remove the successor Trustee to replace the it with another successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Issuer.
(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. 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 under this Indenture. The successor Trustee shall mail send a notice of its succession to Holders of the Notes, and include in the notice its name and address of its corporate trust office. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. 7.6.
(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10% in principal amount of the Notes may petition, at the 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, any Holder of Notes may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with respect to the Notes.
(f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.7, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof 7.6 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Alcoa Corp), Indenture (Alcoa Corp), Indenture (Alcoa Corp)
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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying upon 30 days’ written notice thereof to the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with 30 days prior to the consent effectiveness of the Issuerssuch removal. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof7.10;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 1010.0% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Avantor, Inc.), Indenture (Avantor, Inc.), Indenture (Avantor, 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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice with respect to one or more or all series of Securities at any time and be discharged from the trust hereby created by so notifying the IssuersCompany in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes Securities of any series may remove the Trustee with respect to such series by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails ceases to comply be eligible in accordance with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes Securities of a series may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany with respect to that series of Securities. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note Security who has been a Holder of a Note Security for at least six months, fails ceases to comply be eligible in accordance with Section 7.10 hereof7.10, such Holder of a Note Security 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 IssuersCompany. 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 of the NotesSecurities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided ; PROVIDED all sums owing to the Trustee hereunder have been paid and subject to the Lien lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. If a successor Trustee is appointed with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of any applicable series shall execute and deliver an indenture supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of any series as to which the predecessor Trustee is not retiring shall continue to be vested in the predecessor Trustee, and 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, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees as co-trustees of the same trust and that each such Trustee shall be Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee.
Appears in 3 contracts
Samples: Indenture (Navigators Group Inc), Subordinated Indenture (Navigators Group Inc), Indenture (Navigators Group 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 in writing upon 30 days notice at any time and be discharged from with respect to the trust hereby created Notes by so notifying the IssuersCompany at least 30 days prior to the date of the proposed resignation. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee with respect to that Series by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with Company at least 30 days prior to the consent requested date of the Issuersremoval. The Issuers Company may remove the Trustee with respect to the Notes if:
(a) the Trustee fails to comply with Section 7.10 hereof13.10 of this Indenture;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee with respect to the Notes does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% a majority in principal amount of the then outstanding Notes may may, at the sole expense of the Company, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersCompany. ThereuponImmediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the Lien provided for in Section 13.07 of this Indenture, 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 with respect to the Notes for which it is acting as Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Holders each Holder of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereofeach such Series. Notwithstanding replacement of the Trustee pursuant to this Section 7.0813.08 of this Indenture, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 13.07 of this Indenture hereof shall continue for the benefit of the retiring TrusteeTrustee with respect to expenses and liabilities incurred by it for actions taken or omitted to be taken in accordance with its rights, powers and duties under this Indenture prior to such replacement.
Appears in 3 contracts
Samples: Ninth Supplemental Indenture (Tellurian Inc. /De/), Eighth Supplemental Indenture (Tellurian Inc. /De/), Securities Purchase Agreement (Tellurian Inc. /De/)
Replacement of Trustee. A resignation or removal of the Trustee with respect to the Notes and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this SectionSection 7.07. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying 30 days’ notice to the IssuersCompany in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee Trustee with the consent of the IssuersCompany’s consent. The Issuers Company may remove the Trustee if:
(aA) the Trustee fails to comply with Section 7.10 hereof7.09;
(bB) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(cC) a receiver, Custodian receiver or other public officer takes charge of the Trustee or its property; or
(dD) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, (i) the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor TrusteeTrustee or (ii) the retiring Trustee may appoint a successor Trustee at any time prior to the date on which a successor Trustee takes office, provided that such appointments shall be reasonably satisfactory to the Company (such acceptance not to be unreasonably withheld or delayed). If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 hereof7.09, such any Holder of Notes who has been a Note bona fide Holder of Notes 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. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. ThereuponImmediately after that, 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 7.06), 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (O-I Glass, Inc. /DE/), Indenture (O-I Glass, Inc. /DE/), Indenture (O-I Glass, Inc. /DE/)
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes Securities may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.10;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Lawinsolvent;
(c3) a receiver, Custodian receiver or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes Securities may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 hereof7.10, such any Holder of a Note Securities 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 IssuersCompany. 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 under this Indenture. The successor Trustee shall mail a notice of its succession to Holders of the NotesSecurityholders. The retiring Trustee shall promptly transfer Transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee7.07.
Appears in 3 contracts
Samples: Indenture (1st FRANKLIN FINANCIAL CORP), Indenture (First Franklin Financial Corp), Indenture (First Franklin Financial Corp)
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 SectionSection 7.08. The Trustee may resign in writing upon 30 days days’ notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition petition, at the expense of the Issuers, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 Issuers. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Indenture (Natural Resource Partners Lp), Indenture (Natural Resource Partners Lp), Indenture (PetroLogistics LP)
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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereofhereof or Section 310 of the Trust Indenture Act;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided that all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Senior Notes Indenture (Claires Stores Inc), Senior Secured First Lien Notes Indenture (Claires Stores 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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receivercustodian, Custodian receiver or public officer takes charge of the Trustee or its propertyproperty for the purpose of rehabilitation, conversion or liquidation; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 60 days after the retiring Trustee trustee resigns or is removed, the retiring Trustee, the Issuers Issuer, or the Holders of Notes of at least 1025% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction jurisdiction, in the case of the Trustee, at the expense of the Issuer, for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder bona fide holder of a Note or Notes for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 7.7 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ and the Guarantors’ Issuer's obligations under Section 7.07 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (General Communication Inc), Indenture (Gci 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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersAnvil. The Holders of Senior Notes of a majority in principal amount of the then outstanding Senior Notes may remove the Trustee by so notifying the Trustee and the Issuers Anvil in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Anvil may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Anvil 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 Senior Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersAnvil. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or notifies Anvil of its resignation is removed, the retiring Trustee, the Issuers Anvil, or the Holders of Senior Notes of at least 10% in principal amount of the then outstanding Senior Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Senior Note who has been a Holder of a Senior Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Senior Note 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 IssuersAnvil. 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 of the Senior Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 7.7 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ and the Guarantors’ Anvil's obligations under Section 7.07 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Anvil Holdings Inc), Indenture (Cottontops 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time by giving 30 days’ prior notice of such resignation to the Company and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with at least 30 days’ prior to the consent requested date of the Issuersremoval. The Issuers Company may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.10;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian receiver or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(b) If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Issuers Company 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 then outstanding Notes may appoint a remove the successor Trustee to replace the it with another successor Trustee appointed by the Issuers. Company.
(c) If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Company’s expense), the Issuers Company or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(d) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(e) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided that all sums owing to the Trustee hereunder have been paid and such transfer shall be subject to the Lien provided for in Section 7.07 hereof7.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
(f) As used in this Section 7.08, the term “Trustee” shall also include each Agent.
Appears in 2 contracts
Samples: Senior Notes Indenture (Kosmos Energy Ltd.), Senior Notes Indenture (Kosmos Energy Ltd.)
Replacement of Trustee. A resignation or removal of the Trustee with respect to the Notes and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this SectionSection 7.07. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying 30 days’ notice to the IssuersCompany in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee Trustee with the consent of the IssuersCompany’s consent. The Issuers Company may remove the Trustee if:
(aA) the Trustee fails to comply with Section 7.10 hereof7.09;
(bB) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(cC) a receiver, Custodian receiver or other public officer takes charge of the Trustee or its property; or
(dD) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, (i) the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor TrusteeTrustee or (ii) the retiring Trustee may appoint a successor Trustee at any time prior to the date on which a successor Trustee takes office, provided that such appointments shall be reasonably satisfactory to the Company (such acceptance not to be unreasonably withheld to delayed). If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 hereof7.09, such any Holder of Notes who has been a Note bona fide Holder of Notes 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. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. ThereuponImmediately after that, 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 7.06), 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Owens-Illinois Group Inc), Indenture (Owens-Illinois Group 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. Section 7.07.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer at least 30 days prior to the effective date of such resignation. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with at least 30 days prior to the consent effective date of the Issuerssuch removal. The Issuers Issuer may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.09;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Issuer.
(d) If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuer, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition petition, at the expense of the Issuer, any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.09, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.06. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Pitney Bowes Inc /De/), Indenture (Pitney Bowes Inc /De/)
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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of Company and the then outstanding Notes Shareholder Representative may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersTrustee. The Issuers Company by itself may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.10;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Lawinsolvent;
(c3) a receiver, Custodian receiver or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Company shall promptly appoint a successor Trustee. Within one year If a successor Trustee is not appointed and does not take office within 30 days after the successor retiring Trustee takes officeresigns, the Holders of a majority in principal amount of the then outstanding Notes retiring Trustee may appoint a successor Trustee at any time prior to replace the date on which a successor Trustee appointed by the Issuerstakes office. If a successor Trustee does not take office within 30 45 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Company or, subject to Section 6.09, any Noteholder may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 hereof7.10, such Holder of a Note any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Within one year after a successor Trustee appointed by the Company or a court pursuant to this Section 7.08 takes office, the Holders of a majority in principal amount of the Notes may appoint a successor Trustee to replace such successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. 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 under this Indenture. The successor Trustee shall mail a notice of its succession to Holders of the NotesNoteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee7.07.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (Eriksen Rochelle K.), Merger Agreement (Medsolutions 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. Section 7.08.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCo-Obligors. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Co-Obligors in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Co-Obligors may remove the Trustee if:
(ai) the Trustee fails to comply with Section 7.10 hereof;
(bii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(ciii) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(div) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Co-Obligors 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Co-Obligors.
(d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Co-Obligors, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition at the expense of the Co-Obligors any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six three months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersCo-Obligors. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the GuarantorsCo-Obligors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Central Credit, LLC), Indenture (Duane Reade)
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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuers, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 Issuers. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided PROVIDED all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ ' obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Perkins Finance Corp), Indenture (Restaurant 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. The Trustee may resign in writing at any time upon 30 days prior notice at any time to the Company and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reasonreason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction at the expense of the Company and Pilgrim’s Pride for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersCompany. 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 of Holders. Subject to the Notes. The Lien provided for in Section 7.07 hereof, the retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Senior Unsecured Term Loan Agreement (Pilgrims Pride Corp), Subordinated Indenture (Pilgrims Pride Corp)
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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 60 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the IssuersCompany. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Company shall promptly appoint or request the Trustee to 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersCompany. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 7.7 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Cinemark Usa Inc /Tx), Indenture (Cinemark Usa Inc /Tx)
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee and appoint a successor Trustee with the Issuer's consent, by so notifying the Trustee Issuer and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersTrustee. The Issuers Issuer may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.10;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Lawinsolvent;
(c3) a receiver, Custodian receiver or other public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeIssuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. ThereuponImmediately 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 Issuer shall mail notice of such successor Trustee's appointment to each Holder. If a successor Trustee shall mail a notice of its succession to does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 10% in aggregate principal amount of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee, provided all sums owing to . If the Trustee hereunder have been paid fails to comply with Section 7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and subject to the Lien provided for in Section 7.07 hereofappointment of a successor Trustee. Notwithstanding any resignation or replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Williams Scotsman of Canada Inc), Indenture (Mobile Field Office 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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes holders of a majority in principal amount of the then outstanding Notes Securities may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersCompany. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 9.10 hereof, unless the Trustee's duty to resign is stayed as provided in Trust Indenture Act ss. 310(b);
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders holders of a majority in principal amount of the then outstanding Notes Securities may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes holders of at least 10% in principal amount of the then outstanding Notes Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 9.10 hereof, such Holder unless the Trustee's duty to resign is stayed as provided in Trust Indenture Act ss. 310(b), any Noteholder who has been a bona fide holder of a Note 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. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. Thereupon, the resignation or removal of the retiring Trustee shall become effective, the Company shall promptly pay all amounts due and payable to the retiring Trustee pursuant to Section 9.07 hereof 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 of the NotesNoteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien lien provided for in Section 7.07 9.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.089.08, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 9.07 hereof shall continue for the benefit of the retiring Trusteetrustee with respect to expenses and liabilities incurred by it prior to such replacement.
Appears in 2 contracts
Samples: Indenture (Swift Energy Co), Indenture (Swift Energy 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time upon 30 days’ prior notice to the Company and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reasonreason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may may, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersCompany and enter into a supplemental indenture with the retiring Trustee and the Company in which it assumes the rights, powers and duties of the Trustee under this Indenture. 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 of the NotesHolders. The Subject to the Lien provided for in Section 7.07 hereof, the retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; provided, provided however, that all sums owing to the Trustee hereunder shall have been paid and subject to the Lien provided for in Section 7.07 hereofpaid. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. In the case of an appointment hereunder of a separate or successor Trustee with respect to the Notes, the Company, any retiring Trustee and each successor or separate Trustee with respect to the Notes shall execute and deliver a supplemental indenture hereto (1) which shall contain such provisions as shall be deemed necessary by the Company or retiring Trustee or desirable to confirm that all the rights, powers, trusts and duties of any retiring Trustee with respect to the Notes have been assumed by a successor Trustee and in the case where any retiring Trustee is retiring only with respect to some of the Notes that the rights, powers, trusts and duties of any retiring Trustee with respect to the Notes as to which any such retiring Trustee is not retiring shall continue to be vested in such retiring Trustee and (2) that 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, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustee co-trustees of the same trust and that each such separate, retiring or successor Trustee shall be Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any such other Trustee.
Appears in 2 contracts
Samples: Indenture (Molina Healthcare Inc), Indenture (Molina Healthcare Inc)
Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective effective, and the Trustee shall be discharged from the trust hereby created, only upon the successor Trustee’s acceptance of appointment as provided in this SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from by giving 30 days’ notice of such resignation to the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee upon 30 days’ notice by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee upon 30 days’ notice if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.10;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian receiver or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(b) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 then outstanding Notes may appoint a remove the successor Trustee to replace the it with another successor Trustee appointed by the Issuers. Issuer.
(c) If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(d) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. .
(e) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. 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 deliver a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided that all sums owing to the Trustee hereunder have been paid and such transfer shall be subject to the Lien provided for in Section 7.07 hereof7.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Senior Notes Indenture (Neogen Corp), Senior Notes Indenture (Garden SpinCo Corp)
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. Section 7.07.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(ai) the Trustee fails to comply with Section 7.10 hereof7.09;
(bii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(ciii) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(div) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Issuer.
(d) If a successor Trustee does not take office within 30 60 calendar days after the retiring Trustee resigns gives notice of resignation or is removed, the retiring Trustee, the Issuers Issuer, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.09, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.06. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Sappi LTD), Indenture (Sappi LTD)
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. Section 7.07.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(ai) the Trustee fails to comply with Section 7.10 hereof7.09;
(bii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(ciii) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(div) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Issuer.
(d) If a successor Trustee does not take office within 30 60 calendar days after the retiring Trustee resigns gives notice of resignation or is removed, the retiring Trustee, the Issuers Issuer, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.09, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.06. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Sappi LTD), Indenture (Sappi 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with not less than 30 days prior to the consent effective date of the Issuerssuch removal. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereofhereof or Section 310 of the Trust Indenture Act;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuers’ expense), the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 Issuers. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Nationstar Sub1 LLC), Indenture (Nationstar Sub2 LLC)
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian trustee, assignee, liquidator, sequestrator, custodian or similar officer of the Company under any Bankruptcy Law or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the expense of the Company), the Issuers Company, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersCompany. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ Company’s and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Parker Drilling Co /De/), Indenture (Parker Drilling Co /De/)
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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersCompany. The Issuers Company may remove the Trustee if:
: (a1) the Trustee fails to comply with Section 7.10 hereof;
7.10; (bii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
; (ciii) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
or (div) the Trustee becomes incapable of actingperforming the services of the Trustee hereunder. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, ; provided that the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the any successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 hereof7.10, such any Holder of a Note 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 IssuersCompany. Thereupon, the resignation or removal of the retiring Trustee shall become effective, 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 appointment to Holders of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it holds as Trustee to the successor Trustee, ; provided that all sums owing to the retiring Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereofpaid. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof shall continue for the retiring Trustee’s benefit of with respect to expenses and liabilities relating to the retiring Trustee’s activities prior to being replaced.
Appears in 2 contracts
Samples: Indenture (Gray Television Inc), Indenture (Gray Television 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. Section 7.07.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee with 30 days prior written notice by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee with 30 days prior written notice if:
(ai) the Trustee fails to comply with Section 7.10 hereof7.09;
(bii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(ciii) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(div) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer shall promptly appoint a successor Trustee, provided, however, that in case of a bankruptcy the resigning Trustee will have the right to appoint a successor Trustee within 10 Business Days after giving such notice of resignation if the Issuer has not already appointed 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Issuer.
(d) If a successor Trustee does not take office within 30 60 calendar days after the retiring Trustee resigns gives notice of resignation or is removed, (i) the retiring Trustee, the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. Trustee or (ii) the Trustee may appoint a successor that satisfies the provisions of Section 7.09.
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.09, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.06. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee. The retiring Trustee shall have no liability or responsibility for the action or inaction of any successor Trustee.
Appears in 2 contracts
Samples: 2019 Notes Indenture (North Atlantic Drilling Ltd.), 2019 Notes Indenture (North Atlantic Drilling 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. The Trustee may resign in writing upon 30 days notice at any time upon 30 days’ prior notice to the Company and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reasonreason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six monthsmonths or is an initial Holder of the Notes, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersCompany. 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 of Holders. Subject to the Notes. The Lien provided for in Section 7.07 hereof, the retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 8.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes otherwise incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring or removed Trustee resigns or is removed, the retiring or removed Trustee, the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 8.10 hereof, such Holder of a Note 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 Issuers. Thereupon, the resignation or removal of the retiring or removed 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 8.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.088.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 8.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Second Supplemental Indenture (Summit Midstream Partners, LP), First Supplemental Indenture (Summit Midstream Partners, LP)
Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trusteetrustee’s acceptance of appointment as provided in this SectionSection 7.7. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying upon thirty days’ written notice to the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The Issuers may remove the Trustee ifif no Event of Default exists and:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(cb) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(dc) the Trustee becomes incapable of acting. If the Trustee acquires any conflicting interest, it must eliminate such conflict within 90 days or resign. If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Issuers shall promptly appoint a successor Trusteetrustee. Within one year after the successor Trustee trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee trustee to replace the successor Trustee trustee appointed by the Issuers. If a successor Trustee trustee does not take office within 30 days after the retiring Trustee resigns or is removed, such retiring Trustee (at the retiring Trusteeexpense of the Issuers), the Issuers or the Holders of Notes of at least 1010.0% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.9, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteetrustee. A successor Trustee trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee trustee shall have all the rights, powers and the duties of the Trustee under this Indenture. The successor Trustee trustee shall mail a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided that all sums owing to the such Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.6. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.7, the Issuers’ and the Subsidiary Guarantors’ obligations under Section 7.07 hereof 7.6 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (American Finance Trust, Inc), Indenture (Global Net Lease, Inc.)
Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall will become effective only upon the successor Trustee’s 's acceptance of appointment as provided in this Section. Section 7.08.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers shall Issuer will 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Issuer.
(d) If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuer, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 will deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. 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 will mail a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall will promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer's obligations under Section 7.07 hereof shall will continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Virgin Media Inc.), Indenture (Virgin Media 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 in writing upon 30 days days’ notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuers’ expense), the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 Issuers. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Calumet Specialty Products Partners, L.P.), Indenture (Calumet Specialty Products Partners, L.P.)
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 SectionSection 7.08, provided that costs have been paid to the Trustee prior to effectiveness of such removal or resignation. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer in writing. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy LawCode;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer shall promptly appoint a successor Trustee. Within one (1) year after the successor Trustee Xxxxxxx takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 sixty (60) days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuer or the Holders of Notes of at least ten percent (10% %) in principal amount of the then outstanding Notes may petition petition, at the Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, Trustee after written request by any Holder of a Note who has been a Holder of a Note for at least six months, (6) months fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. 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 Holders. Upon payment of its charges hereunder, the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided that, all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee, and the Issuer shall pay to any such replaced or removed Trustee all amounts owed under Section 7.07 hereof upon such replacement or removal.
Appears in 2 contracts
Samples: Indenture Agreement (Centrus Energy Corp), Indenture Agreement (United States Enrichment Corp)
Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. Section 7.08.
(b) The Trustee may resign in writing upon 30 days notice at any time upon 30 days’ prior written notice to the Issuer and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee Issuer with the consent of the Issuers30 days’ prior written notice. The Issuers Issuer may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under the Bankruptcy Code or any Bankruptcy Lawother bankruptcy law;
(c3) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Issuers shall Issuer will 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 then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Issuer.
(d) If a successor Trustee Xxxxxxx does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuer, or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 will deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersIssuer. 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 will mail (or with respect to Global Notes, to the extent permitted or required by applicable DTC procedures or regulations, send electronically) a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall will promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ Issuer’s and the Guarantors’ obligations under Section 7.07 hereof shall will continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Ingram Micro Holding Corp), Indenture (Ingram Micro Holding Corp)
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. Section 7.07.
(b) The Trustee may resign in writing upon thirty 30 days days’ notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the IssuersCompany. The Issuers Company may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.09;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Company.
(d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% in of the aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction jurisdiction, at the expense of the Company, for the appointment of a successor Trustee. .
(e) If the TrusteeTrustee fails to comply with Section 7.09, after written request by any Holder of a Note who has been a Holder bona fide holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note months 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 IssuersCompany. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.06. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ Company’s and the Subsidiary Guarantors’ obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Comstock Resources Inc), Indenture (Comstock Resources 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. Section 7.07.
(b) The Trustee may resign in writing upon thirty 30 days days’ notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the IssuersCompany. The Issuers Company may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.09;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Company.
(d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% in of the aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction jurisdiction, at the expense of the Company, for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.09, such Holder of a Note 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 IssuersCompany. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.06. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ Company’s and the Subsidiary Guarantors’ obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Comstock Oil & Gas, LP), Indenture (Comstock Oil & Gas, LP)
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 Subject to applicable Gaming Laws, the Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuers and applicable Gaming Authorities. The Subject to applicable Gaming Laws, the Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuers, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall take all steps necessary or advisable to be approved by applicable Gaming Authorities, if required, and deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.09, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Amended and Restated Indenture (NGA Holdco, LLC), Investment Agreement (Shreveport Capital Corp)
Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall will become effective only upon the successor Trustee’s 's acceptance of appointment as provided in this Section. Section 6.08.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) at any time by notifying the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;in writing.
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers shall Company will 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. Company.
(d) If a successor Trustee does not take office within 30 45 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof6.10, such Holder of a Note 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 will deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. 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 will mail a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall will promptly transfer all property held by it as Trustee to the successor Trustee, provided Trustee after all sums owing to the Trustee hereunder have been paid and subject to the Lien lien and security interest provided for in Section 7.07 6.07(d) hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.086.08, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 6.07 hereof shall will continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Usinternetworking Inc), Indenture (Usinternetworking 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereofhereof or Trust Indenture Act Section 310;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Notes, at the expense of the Issuer, may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Senior Subordinated Notes Indenture (American Tire Distributors Holdings, Inc.), Senior Secured Notes Indenture (American Tire Distributors Holdings, Inc.)
Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. Section 7.07.
(b) The Trustee may resign in writing upon 30 days notice at any time upon 30 days’ written notice to the Issuers and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee with respect to such Notes by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 7.09 hereof;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for the Notes for any reason, the Issuers shall will promptly appoint a successor TrusteeTrustee of the Notes. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. .
(d) If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuers, or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note such Notes who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 7.09 hereof, such Holder of a Note such Notes 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 will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. 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 will mail or electronically send a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall will promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 7.06 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ obligations under Section 7.07 7.06 hereof shall will continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Transaction Support Agreement (Peabody Energy Corp), Indenture (Peabody Energy Corp)
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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersHoldings. The Holders of Notes Exchange Debentures of a majority in principal amount of the then outstanding Notes Exchange Debentures may remove the Trustee by so notifying the Trustee and the Issuers Holdings in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Holdings may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Holdings 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 Exchange Debentures may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersHoldings. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns notifies Holdings of its resignation or is removed, the retiring Trustee, the Issuers Holdings, or the Holders of Notes Exchange Debentures of at least 10% in principal amount of the then outstanding Notes Exchange Debentures may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note an Exchange Debenture who has been a Holder of a Note an Exchange Debenture for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note an Exchange Debenture 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 IssuersHoldings. 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 of the NotesExchange Debentures. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 7.7 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ and the Guarantors’ Holdings' obligations under Section 7.07 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Cottontops Inc), Indenture (Anvil Holdings Inc)
Replacement of Trustee. The Trustee shall comply with TIA Section 310(b) to the extent applicable. 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 SectionSection 7.08. The Trustee may resign in writing at any time upon 30 days prior notice at any time to the Issuer and shall be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereofhereof or TIA Section 310;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its propertyProperty; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reasonreason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuer, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction at the expense of the Issuer in the case of the Trustee for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 IssuersIssuer. 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 of Holders. Subject to the Notes. The Lien provided for in Section 7.07 hereof, the retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (GameStop Corp.), Indenture (GameStop Corp.)
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 's acceptance of appointment as provided in this SectionSection 7.8. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersCompany. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 7.7 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (RFS Partnership Lp), Indenture (RFS Hotel Investors 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereofhereof or Trust Indenture Act Section 310;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Notes, may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Hilton Worldwide Holdings Inc.), Indenture (Hilton Worldwide Holdings 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 SectionSection 7.07. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof7.09 hereof or Trust Indenture Act Section 310;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuers’ expense), the Issuers or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Notes, may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 7.09 hereof, such Holder of a Note 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 Issuers. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 7.06 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ obligations under Section 7.07 7.06 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Summit Materials, LLC), Indenture (Summit Materials, LLC)
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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes Debentures of a majority in principal amount of the then outstanding Notes Debentures may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers 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 Notes Debentures may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee Xxxxxxx does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes Debentures of at least 10% in principal amount of the then outstanding Notes Debentures may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note Debenture who has been a Holder of a Note Debenture for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note Debenture 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 IssuersCompany. 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 of the NotesDebentures. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Finlay Enterprises Inc /De), Indenture (Finlay Enterprises Inc /De)
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer and any Guarantor in writing. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the a Trustee by so notifying the Trustee Issuer and the Issuers removed Trustee in writing and may appoint a successor trustee Trustee with the Issuer’s written consent, which consent of the Issuersshall not be unreasonably withheld. The Issuers Issuer may remove the a Trustee at its election if:
(a1) the a Trustee fails to comply with Section 7.10 hereof;
(b2) the a Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Lawinsolvent;
(c3) a receiver, Custodian receiver or other public officer takes charge of the a Trustee or its property; or
(d4) the a Trustee otherwise becomes incapable of actingperforming its duties hereunder. If the a Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer shall notify the Holders 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 Notes then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuer or the Holders of Notes of at least 10% a majority in aggregate principal amount of the then outstanding Notes may may, at the Issuer’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. ThereuponImmediately following such delivery, the retiring Trustee shall, at the Issuer’s expense, 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereofeach Noteholder. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ Issuer’s and the Guarantors’ any Guarantor’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Canwest Media Inc), Indenture (Canwest Media 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 SectionSection 7.07. The Trustee may resign in writing upon 30 days notice at any time by giving 30 days prior notice of such resignation to the Issuer and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 7.09 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian a custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 7.09 hereof, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided that all sums owing to the Trustee hereunder have been paid and such transfer shall be subject to the Lien provided for in Section 7.07 7.06 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.07, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 7.06 hereof shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Patheon 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereofhereof or Trust Indenture Act Section 310;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Notes, at the expense of the Issuer, may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ Issuer’s and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersIssuers in writing no later than 30 days prior to the date of the proposed resignation. The Holders of Notes of at least a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof8.10 or Section 310 of the TIA;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of at least a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof8.10, such Holder of a Note 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 Issuers. 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 IndentureIndenture other than those designated as continuing notwithstanding the Trustee’s resignation or removal and those that otherwise are personal to the Trustee in its individual capacity. The successor Trustee shall mail a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided that all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof8.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.088.08, the Issuers’ obligations and the Guarantors’ obligations Trustee’s rights and remedies under Section 7.07 hereof 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trusteetrustee’s acceptance of appointment as provided in this SectionSection 7.8. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying upon thirty days’ written notice to the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersCompany. The Issuers Company may remove the Trustee ifif no Event of Default exists and:
(a) the Trustee fails to comply with Section 7.10 hereofor Section 310 of the Trust Indenture Act;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for any reason, the Issuers Company shall promptly appoint a successor Trusteetrustee. Within one year after the successor Trustee trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee trustee to replace the successor Trustee trustee appointed by the IssuersCompany. If a successor Trustee trustee does not take office within 30 days after the retiring Trustee resigns or is removed, such retiring Trustee (at the retiring Trusteeexpense of the Company), the Issuers Company or the Holders of Notes of at least 1010.0% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteetrustee. A successor Trustee trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee trustee shall have all the rights, powers and the duties of the Trustee under this Indenture. The successor Trustee trustee shall mail a notice of its succession to Holders of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.the
Appears in 1 contract
Samples: Indenture (Group 1 Automotive 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 SectionSection 7.08. The Trustee may resign in writing upon 30 days notice and be discharged at any time and be discharged from with respect to the trust hereby created Debt Securities of one or more series by so notifying the IssuersIssuer and the Parent. The Holders of Notes of a majority in principal amount of the then outstanding Notes Debt Securities of any series may remove the Trustee with respect to the Debt Securities of such series upon 30 days written notice by so notifying the Trustee Trustee, the Issuer and the Issuers in writing and may appoint a successor trustee with the consent of the IssuersParent. The Issuers Issuer may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof7.10;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Bankruptcy Custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, with respect to the Issuers Debt Securities of one or more series, the Issuer shall promptly appoint a successor TrusteeTrustee or Trustees with respect to the Debt Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Debt Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Debt Securities of any particular series). Within one year after the successor Trustee with respect to the Debt Securities of any series takes office, the Holders of a majority in principal amount of the Debt Securities of such series then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee with respect to the Debt Securities of any series does not take office within 30 days after the retiring or removed Trustee resigns or is removed, the retiring Trusteeor removed Trustee (at the expense of the Issuer), the Issuers Issuer, the Parent or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes Debt Securities of such series may petition any court of competent jurisdiction for the appointment of a successor TrusteeTrustee with respect to the Debt Securities of such series. If the Trustee, after written request by any Holder Trustee with respect to the Debt Securities of a Note who has been a Holder of a Note for at least six months, series fails to comply with Section 7.10 hereof7.10, such any Holder of a Note Debt Securities of such series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeTrustee with respect to the Debt Securities of such series. A In case of the appointment of a successor Trustee with respect to all Debt Securities, each such successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee Trustee, to the Issuer and to the IssuersParent. 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 retiring Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof7.07. In case of the appointment of a successor Trustee with respect to the Debt Securities of one or more (but not all) series, the Issuer, the Parent, the retiring Trustee and each successor Trustee with respect to the Debt 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 Debt 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 Debt Securities, shall confirm that all the rights, powers and duties of the retiring Trustee with respect to the Debt 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. Nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, and each such Trustee shall 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, 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 Debt Securities of that or those series to which the appointment of such successor Trustee relates. On request of the Issuer 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 Debt Securities of that or those series to which the appointment of such successor Trustee relates. Such retiring Trustee shall, however, have the right to deduct its unpaid fees and expenses, including attorneys’ fees. Notwithstanding replacement of the Trustee or Trustees pursuant to this Section 7.08, the Issuers’ and obligations of the Guarantors’ obligations Issuer under Section 7.07 hereof shall continue for the benefit of the retiring TrusteeTrustee or Trustees.
Appears in 1 contract
Samples: Indenture (Kinetik Holdings LP)
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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes Noteholders of a majority in principal amount of the then outstanding Notes Securities may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 9.10 hereof, unless the Trustee's duty to resign is stayed as provided in TIAss.310(b);
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders Noteholders of a majority in principal amount of the then outstanding Notes Securities may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes Noteholders of at least 10% in principal amount of the then outstanding Notes Securities may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 9.10 hereof, such Holder unless the Trustee's duty to resign is stayed as provided in TIA ss. 310(b), any Noteholder who has been a bona fide holder of a Note 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. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuersCompany. 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 under this Indenture. The successor Trustee shall mail a notice of its succession to Holders of the NotesNoteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien lien provided for in Section 7.07 9.07 hereof. Notwithstanding the resignation or replacement of the Trustee pursuant to this Section 7.089.08, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 9.07 hereof shall continue for the benefit of the retiring Trusteetrustee with respect to expenses and liabilities incurred by it prior to such resignation or replacement.
Appears in 1 contract
Samples: Indenture (Young & Rubicam 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 SectionSection 7.08. The Trustee may resign in writing upon by giving 30 days days’ prior written notice of such resignation to the Issuer at any time and be discharged from the trust hereby created by so notifying the IssuersIssuer. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Issuer in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or other public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Issuer 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 may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersIssuer. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring TrusteeTrustee (at the Issuer’s expense), the Issuers Issuer or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof, such Holder of a Note 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 IssuersIssuer. 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 of the NotesHolders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, ; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ Issuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Halyard Health, 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 's acceptance of appointment as provided in this Section. The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers Company in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receivercustodian, Custodian receiver or public officer takes charge of the Trustee or its propertyproperty for the purpose of rehabilitation, conversation or liquidation; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Company shall promptly appoint a successor Trustee. Within one year after the date on which the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. If a successor Trustee does not take office within 30 days after the retiring Trustee trustee resigns or is removed, the retiring Trustee, the Issuers Company, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction jurisdiction, in the case of the Trustee, at the expense of the Company, for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder bona fide holder of a Note or Notes for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a -76- Note 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 IssuersCompany. 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 Company shall mail a notice of its succession to Holders Holder of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided PROVIDED all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 7.7 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.087.8, the Issuers’ and the Guarantors’ Company's obligations under Section 7.07 7.7 hereof shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Commemorative Brands Inc)
Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. Section 7.08.
(b) The Trustee may resign in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may appoint a successor trustee with the consent of the Issuerswriting. The Issuers may remove the Trustee if:
(a1) the Trustee fails to comply with Section 7.10 hereof;
(b2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c3) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d4) the Trustee becomes incapable of acting. .
(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers shall will 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 may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. .
(d) If a successor Trustee does not take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Issuers, or the Holders of Notes of at least 10% in principal amount of the then outstanding Notes may petition petition, at the expense of the Issuers, any court of competent jurisdiction for the appointment of a successor Trustee. .
(e) If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10 hereof7.10, such Holder of a Note 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 will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. 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 will mail a notice of its succession to Holders of the NotesHolders. The retiring Trustee shall will promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien claim provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ and the Guarantors’ obligations under Section 7.07 hereof shall will continue for the benefit of the retiring Trustee.
Appears in 1 contract
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 in writing upon 30 days notice at any time and be discharged from the trust hereby created by so notifying the IssuersCompany. The Holders of Notes of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing Company and may appoint a successor trustee with the consent of the IssuersTrustee. The Issuers Company may remove the Trustee if:
(a) the Trustee fails to comply with Section 7.10 hereof8.10;
(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
(c) a receiver, Custodian custodian or public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers Company 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 then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the IssuersCompany. No removal or appointment of a Trustee will be valid if that removal or appointment would conflict with any law applicable to the Company. A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee will, subject to the Lien provided for in Section 8.07 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee will mail notice of its succession to each Holder. If a successor Trustee does not take office within 30 days on or before the sixtieth day after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers Company or the Holders of Notes of at least 10% a majority in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, Trustee fails to comply with Section 7.10 hereof8.10, such any Holder of a Note 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 Notwithstanding the retiring Trustee and to the Issuers. 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 of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08Section, the Issuers’ and the Guarantors’ Company’s obligations under Section 7.07 hereof 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Thornburg Mortgage Inc)
