Common use of Replacement of Trustee Clause in Contracts

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder 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 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 16 contracts

Samples: Indenture (Bungeltd), Indenture (Bungeltd), Indenture (Bunge Limited Finance Corp)

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Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuer in writing. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.09; (2b) the Trustee is adjudged a bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), ) the Company Issuer shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.06. If a successor Trustee does not take office within 60 calendar days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuer or the Holders of 10% a majority in principal amount of the Notes may petitionmay, at the Company’s expenseexpense of the Issuer, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.09, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.07, the CompanyIssuer’s obligations obligation under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.

Appears in 13 contracts

Samples: Indenture, Indenture, Indenture

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyIssuer. The Holders holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company Issuer or by the Holders holders of a majority in principal amount of the Notes (voting as a single class) and such Holders holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the CompanyIssuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 12 contracts

Samples: Indenture (Trimas Corp), Restructuring Support, Forbearance, and Settlement Agreement (CAESARS ENTERTAINMENT Corp), Indenture (Hospitality Distribution Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying giving 30 days prior written notice of such resignation to the Company. The Holders of a majority in aggregate principal amount of the Notes (voting as a single class) may then outstanding may, upon 30 days prior written notice to the Company and the Trustee, remove the Trustee by so notifying the Trustee and may appoint a successor Trustee; provided that so long as no Default or Event of Default has occurred and is continuing, the Company shall have the right to consent to the successor Trustee, such consent not to be unreasonably withheld. The Company shall may remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by or if a vacancy exists in the office of Trustee for any reason, the Company or by shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee appointed by the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor TrusteeCompany. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the retiring Trustee pursuant to Section 7.07, all money and property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, whereupon 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 cause to be delivered a notice of its succession to Noteholdersall Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee Anything in this Section 7.08 to the successor Trustee, contrary notwithstanding but subject to the lien provided for in provisions of Section 7.07 hereof7.09, no resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Section 7.08 shall become effective until the acceptance of appointment by the successor Trustee pursuant to this Section 7.08. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the expense of the Company), the Company or the Holders of at least 10% in aggregate principal amount of the Notes then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder 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 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 12 contracts

Samples: Indenture (Starwood Property Trust, Inc.), Indenture (Starwood Property Trust, Inc.), Indenture (Rithm Capital Corp.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.09; (2ii) the Trustee is adjudged a bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), ) the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.06. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of 10% a majority in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.09, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.07, the Company’s obligations obligation under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.

Appears in 11 contracts

Samples: Indenture (Watford Holdings Ltd.), Indenture (Latam Airlines Group S.A.), Indenture (Latam Airlines Group S.A.)

Replacement of Trustee. No resignation or removal of the Trustee and no appointment of a successor Trustee shall become effective until the acceptance of appointment by the successor Trustee pursuant to this Section 8.08. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Majority Certificateholders may at any time remove the Trustee by so notifying the Company and the Trustee and the Company and may appoint a successor Trustee. The Company shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 8.11 hereof; (2b) the Trustee is adjudged a bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its respective property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee, the Company, the Trustee and to the CompanyServicer. Thereupon Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee or under this IndentureAgreement. The successor Trustee shall mail a notice of its succession to Noteholdersthe Certificateholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company, the Trustee or the Holders of 10% in principal amount of the Notes Majority Certificateholders may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder 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 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Trust Series 2004-1), Pooling and Servicing Agreement (NovaStar Mortgage Funding Trust, Series 2005-1), Pooling and Servicing Agreement (NovaStar Mortgage Funding Trust, Series 2005-2)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes (voting as a single class) Securities then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes (voting as a single class) Securities then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount of the Notes Securities then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder who has been a bona fide Holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 11 contracts

Samples: Indenture (Amc Entertainment Holdings, Inc.), Indenture (Amc Entertainment Holdings, Inc.), Indenture (Amc Entertainment Holdings, Inc.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing at least 30 days in advance. The Holders of a majority in principal amount of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Company and the Trustee and may appoint a successor Trustee with the Company’s consent. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only with the successor Trustee’s acceptance of appointment as provided in this Section. The Company shall may remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolventinsolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by or if a vacancy exists in the office of Trustee for any reason, the Company or by shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee appointed by the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor TrusteeCompany. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Promptly after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, 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 Noteholders. 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 7.07 hereofeach Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in aggregate principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 9 contracts

Samples: Indenture (Huntsman CORP), Indenture (Huntsman CORP), Indenture (Huntsman International 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 at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trusteethe Company in writing not less than 30 days prior to the effective date of such removal. The Company shall may remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (3c) a receiver Custodian or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by or if a vacancy exists in the office of Trustee for any reason, the Company or by 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 (voting as a single class) and such Holders do not reasonably promptly may appoint a successor Trustee to replace the successor Trustee appointed by the Company. 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 if the Holders of at least 10% in principal amount of the Notes may petition any court of competent jurisdiction at the expense of the Company for the appointment of a vacancy exists in successor Trustee. If the office Trustee fails to comply with Section 7.10, any Holder, who has been a Holder for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee for any reason (and the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Promptly after that, the retiring Trustee shall, upon payment of its charges hereunder, transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Holder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring trustee with respect to expenses and liabilities incurred by it prior to such replacement. Any resigning or removed Trustee shall have no responsibility or liability for any action or inaction of any successor Trustee.

Appears in 9 contracts

Samples: Senior Indenture (Iron Mountain Inc), Senior Indenture (Iron Mountain Inc), Senior Indenture (Iron Mountain Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee's duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 8 contracts

Samples: Indenture (TRW Automotive Inc), Indenture (TRW Automotive Inc), Indenture (TRW Automotive Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing at least 30 days in advance. The Holders of a majority in principal amount of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Company and the Trustee and may appoint a successor Trustee with the Company's consent. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only with the successor Trustee's acceptance of appointment as provided in this Section. The Company shall may remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolventinsolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by or if a vacancy exists in the office of Trustee for any reason, the Company or by shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee appointed by the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor TrusteeCompany. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Promptly after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, 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 Noteholders. 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 7.07 hereofeach Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in aggregate principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 8 contracts

Samples: Indenture (Huntsman Advanced Materials (UK) LTD), Indenture (Huntsman LLC), Indenture (Huntsman Polymers Corp)

Replacement of Trustee. The Trustee may resign at any time with respect to the Notes by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee with respect to the Notes by so notifying the Trustee and the Company in writing not less than 30 days prior to the effective date of such removal. The Company shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, Trustee or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture, and thereupon the duties and obligations of the predecessor shall cease and terminate. The successor Trustee shall mail a notice of its succession to NoteholdersHolders of the Notes. The retiring Trustee shall promptly promptly, upon the payment of the fees and expenses owed to the retiring Trustee, transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof7.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder of the Notes 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 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 8 contracts

Samples: Indenture (O Reilly Automotive Inc), Indenture (O'Reilly II Aviation Corp), Indenture (O Reilly Automotive Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyIssuers. If the Trustee is no longer eligible under Section 7.10 or in the circumstances described in TIA Section 310(b), any Holder that satisfies the requirements of TIA Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee in writing and the appointment of a successor Trustee. The Holders of a majority in principal amount of the Notes (voting as a single class) then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuers shall be entitled to remove the Trustee or any Holder who has been a bona fide Holder for not less than six months may petition any court for removal of the Trustee and appointment of a successor Trustee, if: (1i) the Trustee fails to comply with Section 7.10 hereofhas or acquires a conflict of interest that is not eliminated; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or; (4iv) the Trustee otherwise becomes incapable of acting. acting as Trustee hereunder. (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or pursuant to Section 7.08(a)or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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. and the recognition of the retiring Trustee’s lien thereto by the successor Trustee. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s Issuers’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. (g) For the avoidance of doubt, the rights, privileges, protections, immunities and benefits given to the Trustee in this Section 7.08, including its right to be indemnified, are extended to, and shall be enforceable by each Paying Agent, Transfer Agent and Registrar employed to act hereunder. (h) The Trustee agrees to give the notices provided for in, and otherwise comply with, TIA Section 310(b).

Appears in 6 contracts

Samples: Senior Indenture (NXP Semiconductors N.V.), Senior Indenture (NXP Semiconductors N.V.), Senior Indenture (NXP Semiconductors N.V.)

Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trusteethe Company in writing not less than 30 days prior to the effective date of such removal. The Company shall may remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.9; (2b) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (3c) a receiver Custodian or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by or if a vacancy exists in the office of Trustee for any reason, the Company or by 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 (voting as a single class) and such Holders do not reasonably promptly may appoint a successor Trustee to replace the successor Trustee appointed by the Company. 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 if the Holders of at least 10% in principal amount of the Notes may petition any court of competent jurisdiction at the expense of the Company for the appointment of a vacancy exists in successor Trustee. If the office Trustee fails to comply with Section 7.9, any Holder, who has been a Holder for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee for any reason (and the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Promptly after that, the retiring Trustee shall, upon payment of its charges hereunder, transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.6, 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 Noteholders. 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 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trusteeeach Holder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.7, the Company’s obligations under Section 7.07 hereof 7.6 shall continue for the benefit of the retiring trustee with respect to expenses and liabilities incurred by it prior to such replacement. Any resigning or removed Trustee shall have no responsibility or liability for any action or inaction of any successor Trustee.

Appears in 6 contracts

Samples: Senior Notes Indenture (Iron Mountain Inc), Senior Notes Indenture (Iron Mountain Inc), Senior Notes Indenture (Iron Mountain Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 5 contracts

Samples: Indenture (Nalco Holding CO), Indenture (Goodman Holding CO), Indenture (Nalco Holding CO)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders holders of a majority in principal amount of the Notes (voting as a single class) and such Holders holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 5 contracts

Samples: Indenture (Enpro Industries, Inc), Indenture (MULTI COLOR Corp), Indenture (Enpro Industries, Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Company and the Trustee in writing and the Company may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof11.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do the Company does not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly Holders of a majority in aggregate principal amount of the Notes may appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof11.7. If the Company has not appointed a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof11.10, unless the Trustee’s duty to resign is stayed as provided in TIA § 310(b), any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.0811.8, the Company’s obligations under Section 7.07 hereof 11.7 shall continue for the benefit of the retiring Trustee.

Appears in 5 contracts

Samples: Indenture (Aar Corp), Indenture (Aar Corp), Indenture (Aar Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail deliver a notice of its succession to Noteholdersthe Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 5 contracts

Samples: Indenture (MPM Silicones, LLC), Indenture (MPM Silicones, LLC), Indenture (MPM Silicones, LLC)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.7. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Outstanding Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 5 contracts

Samples: Indenture (Homex Development Corp.), Indenture (Homex Development Corp.), Indenture (Alliance One International, Inc.)

Replacement of Trustee. A resignation or removal of the ---------------------- Trustee and the appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) outstanding Debentures may remove the Trustee by so notifying the Trustee and the Company, and may appoint a successor TrusteeTrustee with the Company's consent. The Company shall may remove the Trustee if: : (1i) the Trustee fails to comply with Section 7.10 hereof; 7.10; (2ii) the Trustee is adjudged a bankrupt or an insolvent; ; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or or (4iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately thereafter, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (subject to the lien provided for in Section 7.07), the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereofeach Debentureholder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of 10% a majority in principal amount of the Notes outstanding Debentures may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Debentureholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee, provided, however, that if the Trustee shall fail to comply with TIA ss. Notwithstanding the replacement 310(b)(i), only a Debentureholder who has been a bona fide holder of the Debentures for at least six months and has requested the Trustee pursuant in writing to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trusteecomply with such provision may so petition such court.

Appears in 5 contracts

Samples: Indenture (Intervest Corporation of New York), Indenture (Intervest Corporation of New York), Indenture (Intervest Bancshares 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 7.07. The Trustee may resign at any time by so notifying the CompanyCompany 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 (voting as a single class) may remove the Trustee by so notifying the Trustee in writing and may appoint a successor TrusteeTrustee with the consent of the Company. The Company shall may remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.09; (2ii) the Trustee is adjudged a bankrupt or an insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) 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 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 outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. If the successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or by the Holders of a majority in principal amount of the outstanding Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in may petition any court of competent jurisdiction for the office appointment of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after the delivery of such written acceptance, subject to the lien provided in Section 7.06, (i) the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, (ii) the resignation or removal of the retiring Trustee shall become effective, effective and (iii) 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 Noteholders. 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 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trusteeeach Holder. If the Trustee fails to comply with Section 7.10 hereof7.09, any Noteholder Holder who satisfies the requirements of TIA Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect provided in this Section. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.07, the Company’s obligations 's obligation under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.

Appears in 4 contracts

Samples: Indenture (Amtran Inc), Indenture (American Trans Air Execujet Inc), Indenture (Amtran Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail deliver a notice of its succession to Noteholdersthe Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 4 contracts

Samples: Indenture (Momentive Performance Materials Inc.), Indenture (Momentive Performance Materials Inc.), Indenture (Momentive Performance Materials Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyIssuers. If the Trustee is no longer eligible under Section 7.10 or in the circumstances described in TIA Section 310(b), any Holder that satisfies the requirements of TIA Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee in writing and the appointment of a successor Trustee. The Holders of a majority in principal amount of the Notes (voting as a single class) then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuers shall be entitled to remove the Trustee or any Holder who has been a bona fide Holder for not less than six months may petition any court for removal of the Trustee and appointment of a successor Trustee, if: (1i) the Trustee fails to comply with Section 7.10 hereofhas or acquires a conflict of interest that is not eliminated; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or; (4iv) the Trustee otherwise becomes incapable of acting. acting as Trustee hereunder. (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single classpursuant to Section 7.08(a) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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. and the recognition of the retiring Trustee’s lien thereto by the successor Trustee. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s Issuers’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. (g) For the avoidance of doubt, the rights, privileges, protections, immunities and benefits given to the Trustee in this Section 7.08, including its right to be indemnified, are extended to, and shall be enforceable by each Paying Agent, Transfer Agent and Registrar employed to act hereunder. (h) The Trustee agrees to give the notices provided for in, and otherwise comply with, TIA Section 310(b).

Appears in 4 contracts

Samples: Senior Indenture (NXP Semiconductors N.V.), Senior Indenture (NXP Semiconductors N.V.), Senior Indenture (NXP Semiconductors N.V.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes (voting as a single class) then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes (voting as a single class) then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount of the Notes then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder 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 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 4 contracts

Samples: Indenture (Amc Entertainment Holdings, Inc.), Indenture (Amc Entertainment Holdings, Inc.), Indenture (Amc Entertainment Holdings, Inc.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee with respect to the Securities by so notifying with 31 days prior notice to the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.09; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Company, or is removed by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders of the Securities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof7.06. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the Company’s expense) or the Holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.09, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.

Appears in 4 contracts

Samples: Indenture (Transocean Ltd.), Indenture (Transocean Ltd.), Indenture (Transocean Ltd.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee with respect to the Securities by so notifying with 31 days prior notice to the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.09; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Company, or is removed by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders of the Securities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof7.06. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the Company’s expense) or the Holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.09, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the 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 (Transocean Ltd.), Indenture (Transocean Ltd.), Indenture (Transocean Ltd.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes (voting as a single class) then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes (voting as a single class) then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, at the expense of the Company, or the Holders of 10% in aggregate principal amount of the Notes then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder 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 or resignation of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring TrusteeTrustee and survive the termination of this Indenture.

Appears in 3 contracts

Samples: Indenture (Tempur Sealy International, Inc.), Indenture (Tempur Sealy International, Inc.), Indenture (Tempur Pedic International Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuers in writing. The Holders of a majority in principal amount of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Issuers' written consent which consent shall not be unreasonably withheld. The Company shall Issuers may remove the Trustee at its election if: (1) the Trustee fails to comply with Section 7.10 hereof; (2) the Trustee is adjudged a bankrupt or an insolvent; (3) a receiver or other public officer takes charge of the Trustee or its propertyProperty; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company Issuers shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuers or the Holders holders of 10% a majority in principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Noteholder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s Issuers' obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Samples: Indenture (Business Sound Inc), Indenture (Muzak Finance Corp), Indenture (Muzak Finance Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.08; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.06. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (e) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.07, the 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 (NCR Corp), Indenture (NCR Corp), Indenture (NCR Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee's duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Samples: Indenture (Wki Holding Co Inc), Indenture (Land O Lakes Inc), Indenture (Land O Lakes Inc)

Replacement of Trustee. A resignation or removal of the ----------------------- Trustee and the appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) outstanding Debentures may remove the Trustee by so notifying the Trustee and the Company, and may appoint a successor TrusteeTrustee with the Company's consent. The Company shall may remove the Trustee if: : (1i) the Trustee fails to comply with Section 7.10 hereof; 7.10; (2ii) the Trustee is adjudged a bankrupt or an insolvent; ; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or or (4iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately thereafter, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (subject to the lien provided for in Section 7.07), the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereofeach Debentureholder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of 10% a majority in principal amount of the Notes outstanding Debentures may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Debentureholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee, provided, however, that if the Trustee shall fail to comply with TIA ss. Notwithstanding the replacement 310(b)(i), only a Debentureholder who has been a bona fide holder of the Debentures for at least six months and has requested the Trustee pursuant in writing to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trusteecomply with such provision may so petition such court.

Appears in 3 contracts

Samples: Indenture (Intervest Corporation of New York), Indenture (Intervest Corporation of New York), Indenture (Intervest Mortgage Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.7. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Outstanding Notes may petition, at the Company’s 's expense, any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Samples: Indenture (Access Financial Solutions Inc), Indenture (Constar International Inc), Indenture (Constar Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.7. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of ten percent (10% %) in principal amount of the Outstanding Notes may petition, at the Company’s 's expense, any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Samples: Indenture (Baron Wire & Cable Corp.), Indenture (CCI International, Inc.), Indenture (Movie Gallery Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders holders of a majority in principal amount of the Notes (voting as a single class) and such Holders holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Samples: Indenture (XPO Logistics, Inc.), Indenture (XPO Logistics, Inc.), Indenture (XPO Logistics, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders holders of a majority in principal amount of the Notes (voting as a single class) and such Holders holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee Xxxxxxx does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Samples: Indenture (Caesars Entertainment, Inc.), Indenture (Caesars Entertainment, Inc.), Indenture (Gap Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders holders of a majority in principal amount of the Notes (voting as a single class) and such Holders holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Samples: Indenture (Caesars Entertainment, Inc.), Indenture (Gap Inc), Indenture (Abercrombie & Fitch Co /De/)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyAK Steel. The Holders of at least a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company AK Steel shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company AK Steel shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyAK Steel. 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 NoteholdersSecurityholders. 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 7.07 7.7 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, AK Steel or the Holders of 10% at least a majority in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s AK Steel's obligations under Section 7.07 7.7 hereof shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Samples: Indenture (Ak Steel Holding Corp), Indenture (Ak Steel Holding Corp), Indenture (Ak Steel Holding Corp)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee with respect to the Securities by so notifying with 31 days prior notice to the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.09; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Company, or is removed by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders of the Securities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof7.06. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.09, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the 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 (Transocean Ltd.), Indenture (Transocean Ltd.), Indenture (Transocean Ltd.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided that the amounts owing to the Trustee hereunder have been paid and subject to the lien provided for in Section 7.07 hereof7.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Samples: Indenture (Intersil Corp), Indenture (Fairchild Semiconductor International Inc), Indenture (FSC Semiconductor Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyIssuer. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof[reserved]; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company Issuer or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, petition at the Company’s expense, expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (e) [Reserved]. (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the CompanyIssuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Constellium N.V.), Indenture (Constellium N.V.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyParent. The Holders holders of Notes of a majority in aggregate principal amount of the Notes (voting as a single class) then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Parent shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company Parent or by the Holders holders of Notes of a majority in aggregate principal amount of the Notes (voting as a single class) then outstanding and such Holders holders of Notes do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Parent shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyParent. 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 Noteholdersholders of Notes. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of Notes of 10% in aggregate principal amount of the Notes then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder holder of Notes 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 7.08Section, the CompanyParent’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (PT Indosat TBK), Indenture (P T Indosat TBK)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount at maturity of the Notes (voting as a single class) Securities then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount at maturity of the Notes (voting as a single class) Securities then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersSecurityholders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount at maturity of the Notes Securities then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Securityholder who has been a bona fide Holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Marquee Holdings Inc.), Indenture (Amc Entertainment Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount at maturity of the Notes (voting as a single class) Securities then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount at maturity of the Notes (voting as a single class) Securities then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersSecurityholders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount at maturity of the Notes Securities then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Securityholder who has been a bona fide Holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Alamosa Delaware Inc), Indenture (Alamosa Holdings Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying upon 30 days’ written notice to the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) then outstanding, may remove the Trustee by so notifying upon 30 days’ written notice to the Trustee and may appoint a successor Trustee, which successor Trustee shall be reasonably acceptable to the Company. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.9; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCompany and the Company shall pay all amounts due and owing to the Trustee under Section 7.6 of the 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 NoteholdersNoteholders affected by such resignation or removal. 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 7.07 hereof7.6. If a successor Trustee does not take office with respect to the Notes within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.9, any Noteholder 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 7.087.7, the Company’s and the Guarantors’ obligations under Section 7.07 hereof 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Acuity Brands Lighting, Inc.), Indenture (Acuity Brands Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders holders of a majority in principal amount of the Notes (voting as a single class) and such Holders holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. and shall have no responsibility or liability for any action (or inaction) of any successor Trustee. (d) If a successor Trustee Xxxxxxx does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (XPO, Inc.), Indenture (XPO, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petitionSecurities may, at the expense of the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee's duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Kansas City Southern), Indenture (Kansas City Southern)

Replacement of Trustee. A resignation or removal of the Trustee and the appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the removed Trustee and and, with the Company's consent, may appoint a successor Trustee. The Company shall may remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged a bankrupt or an insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (reason, the Company and any other obligor upon the Notes shall promptly appoint a successor Trustee. If a successor Trustee in such event being referred to herein as does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee), the Company shall promptly appoint or the Holders of at least 10% in principal amount of the Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon 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 to Noteholders. 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. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee7.7. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Trustee, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Home Holdings Inc), Indenture (Home Holdings Inc)

Replacement of Trustee. The Trustee may resign upon thirty (30) days prior written notice, effective as of the date set forth below, at any time by so notifying the Company. The Holders holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall may remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolventinsolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders holders do not reasonably and promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the retiring Trustee have been paid, subject to the lien provided for in Section 7.07. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereofshall continue for the benefit of the retiring Trustee. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction jurisdiction, at the expense of the Company, for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Eclipse Resources Corp), Indenture (Eclipse Resources Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Company and the Trustee and may appoint a successor TrusteeTrustee with the consent of the Company, which shall not be unreasonably withheld. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail send a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.7. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the Trust Indenture Act, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Verisign Inc/Ca), Indenture (Verisign Inc/Ca)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.7. (d) If a successor Trustee Xxxxxxx does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Outstanding Notes may petition, at the Company’s 's expense, any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Senior Euro Notes Agreement (Flag Telecom Holdings LTD), Indenture (Flag Telecom Holdings LTD)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. Trustee at the expense of the Company. (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee's duty to resign is stayed as provided in TIA Section 310(b), any Noteholder Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Uniplast Industries Co), Indenture (Pierson Industries Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuer in writing. The Holders of a majority in principal amount of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Issuer’s written consent which consent shall not be unreasonably withheld. The Company shall Issuer may remove the Trustee at its election if: (1) the Trustee fails to comply with Section 7.10 hereof; (2) the Trustee is adjudged a bankrupt or an insolvent; (3) a receiver or other public officer takes charge of the Trustee or its propertyProperty; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company Issuer shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuer or the Holders holders of 10% a majority in principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Noteholder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the CompanyIssuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Muzak Heart & Soul Foundation), Indenture (Muzak LLC)

Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section 7.08. (b) The Trustee may resign at any time and be discharged from the trust hereby created by so notifying the Company. The Holders of a majority in principal amount of the then outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trusteethe Company. The Company shall may remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof; (2ii) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (3iii) a custodian, receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (c) If the Trustee resigns or is removed by or if a vacancy exists in the office of Trustee for any reason, the Company or by shall notify each Holder of such event and 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 (voting as a single class) and such Holders do not reasonably promptly may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee appointed by the Trustee for any reason Company. (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. d) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Thereupon, the resignation or removal of the retiring Trustee shall 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 Noteholderseach Holder. 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 Company's and each of the Guarantor's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. (e) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company, any of the Guarantors or the Holders of at least 10% in principal amount of the then outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (f) If the Trustee after written request by any Holder who has been a Holder for at least six months fails to comply with Section 7.10 hereof7.10, any Noteholder such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (North Atlantic Trading Co Inc), Indenture (North Atlantic Trading Co Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes (voting as a single class) then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes (voting as a single class) then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount of the Notes then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder 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 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Amc Entertainment Holdings, Inc.), Indenture (Amc Entertainment 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 Section 7.08. The Trustee may resign at any time with 60 days prior written notice by so notifying the CompanyIssuer in writing. The Holders of a majority in principal amount of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Issuer and the Trustee and may appoint a successor Trustee. The Company shall Issuer may remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged a bankrupt or an insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by or if a vacancy exists in the Company or by office of Trustee for any reason, the 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 Notes (voting as a single class) and such Holders do not reasonably promptly may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee appointed by the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor TrusteeIssuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereofeach Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuer or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor TrusteeTrustee at the expense of the Issuer. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the CompanyIssuer’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. Any removed or resigning Trustee shall have no liability or responsibility for the action or inaction of any Successor Trustee.

Appears in 2 contracts

Samples: Indenture (Sotherly Hotels Lp), Indenture (Sotherly Hotels Lp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyIssuer. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof[reserved]; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company Issuer or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, petition at the Company’s expense, expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (e) [Reserved]. (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s Issuer's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Constellium Se), Indenture (Constellium Se)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing at least 30 days in advance of such resignation. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersSecurityholders. 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 7.07 hereof7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns A resignation or is removed, the retiring Trustee or the Holders of 10% in principal amount removal of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section 7.8. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Atlas Air Inc), Indenture (Comforce Corp)

Replacement of Trustee. (i) The Trustee may resign at any time by so notifying the CompanyIssuers. The Holders of a majority in principal amount of the Notes (voting as a single class) then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuers shall be entitled to remove the Trustee or any Holder who has been a bona fide Holder for not less than six months may petition any court for removal of the Trustee and appointment of a successor Trustee, if: (1) A. the Trustee fails to comply with Section 7.10 hereof7.11; (2) B. the Trustee has or acquires a conflict of interest in its capacity as Trustee that is not eliminated; C. the Trustee is adjudged bankrupt or insolvent; (3) D. a receiver or other public officer takes charge of the Trustee or its property; or (4) X. the Trustee otherwise becomes incapable of acting. acting as Trustee hereunder. (ii) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single classpursuant to Section 7.07(i) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. . (iii) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this IndentureIndenture and the Notes Documents. The successor Trustee shall mail deliver a notice of its succession to NoteholdersHolders. 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. 7.06. (iv) If a successor Trustee Xxxxxxx does not take office within 60 30 days after the retiring Trustee resigns or is removed, (i) the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If , or (ii) the retiring Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of appoint a successor Trustee. Xxxxxxx at any time prior to the date on which a successor Trustee takes office; provided that such appointment is reasonably satisfactory to the Issuers. (v) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.07, the Company’s Issuers’ obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee. (vi) For the avoidance of doubt, the rights, privileges, protections, immunities and benefits given to the Trustee in this Article VII, including its right to be indemnified, are extended to, and shall be enforceable by each Agent employed to act hereunder.

Appears in 2 contracts

Samples: Indenture (Ferroglobe PLC), Indenture (Ferroglobe PLC)

Replacement of Trustee. No resignation or removal of the Trustee and no appointment of a successor Trustee shall become effective until the acceptance of appointment by the successor Trustee pursuant to this Section 8.08. The Trustee may resign at any time by so notifying the CompanyDepositor. The Holders of a majority in principal amount of the Notes (voting as a single class) Majority Certificateholders may at any time remove the Trustee by so notifying the Depositor and the Trustee and the Depositor and may appoint a successor Trustee. The Company Depositor shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 8.11 hereof; (2b) the Trustee is adjudged a bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its respective property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Depositor shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee, the Depositor, the Trustee and to the CompanyServicer. Thereupon Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee or under this IndentureAgreement. The successor Trustee shall mail a notice of its succession to Noteholdersthe Certificateholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Depositor, the Trustee or the Holders of 10% in principal amount of the Notes Majority Certificateholders may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder 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 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (NovaStar Certificates Financing CORP), Pooling and Servicing Agreement (NovaStar Certificates Financing LLC)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuer. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.11; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if the Trustee resigns, is removed by the Issuer or a vacancy otherwise exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 90 calendar days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction (at the expense of the Issuer) for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.11, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the CompanyIssuer’s and the Guarantor’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Samples: Indenture (Nabors Industries LTD), Indenture (Nabors Industries LTD)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Graftech International LTD)

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Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuer. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if the Trustee resigns, is removed by the Issuer or a vacancy otherwise exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 90 calendar days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction (at the expense of the Issuer) for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the CompanyIssuer’s and the Guarantors’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Spansion Inc.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing at least 30 days in advance of such resignation. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersSecurityholders. 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 7.07 hereof7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns A resignation or is removed, the retiring Trustee or the Holders of 10% in principal amount removal of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section 7.8. -56- 63 If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Atlas Air Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuers in writing. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Issuers and the Trustee in writing and may appoint a successor Trustee. The Company Issuers shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Issuers or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 hereof7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expenseexpense of the Issuers, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in TIA § 310(b), any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s Issuers’ obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Palace Entertainment 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 Section 7.8. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount at maturity of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Trustee in writing and may appoint a successor TrusteeTrustee with the Company's consent, which consent shall not be unreasonably withheld. The Company shall may remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged as bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount at maturity of the Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after such delivery, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (subject to the lien provided in Section 7.7), the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereofeach Holder. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of 10% the majority in principal amount at maturity of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder who satisfies the requirements of TIA Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (CHS Electronics Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes (voting as a single class) Securities then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes (voting as a single class) Securities then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.07. The retiring Trustee (or any Trustee removed hereunder) shall have no liability or responsibility for the action or inaction of any successor Trustee. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount of the Notes Securities then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder who has been a bona fide Holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (National CineMedia, LLC)

Replacement of Trustee. The Trustee may resign at any time by so notifying upon 30 days’ written notice to the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) then outstanding, may remove the Trustee by so notifying upon 30 days’ written notice to the Trustee and may appoint a successor Trustee, which successor Trustee shall be reasonably acceptable to the Company. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCompany and the Company shall pay all amounts due and owing to the Trustee under Section 7.7 of the 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 NoteholdersNoteholders affected by such resignation or removal. 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 7.07 hereof7.7. If a successor Trustee does not take office with respect to the Notes within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder 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 7.087.8, the Company’s obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Expedia, Inc.)

Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee's acceptance of appointment as provided in this Section 7.8. (b) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in outstanding principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: : (1i) the Trustee fails to comply with Section 7.10 hereof; 7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; ; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or or (4iv) the Trustee otherwise becomes incapable of acting. . (c) If the Trustee resigns or is removed by the Company or by the Holders of a majority in outstanding principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (d) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof. 7.7. (e) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in outstanding principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (f) If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (g) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Doane Pet Care Co)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders holders of a majority in principal amount of the Notes (voting as a single class) and such Holders holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 sixty (60) days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Notes may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (MULTI COLOR Corp)

Replacement of Trustee. The Trustee may resign at any time with respect to the Securities by so notifying the CompanyIssuer. The Holders of a majority in principal amount Principal Amount at Maturity of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company Issuer or by the Holders of a majority in principal amount Principal Amount at Maturity of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, Trustee or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersSecurityholders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount Principal Amount at Maturity of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder 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 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Enron Corp/Or/)

Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section 7.08. (b) The Trustee may resign at any time and be discharged from the trust hereby created by so notifying the CompanyIssuers. The Holders Securityholders of a majority in principal amount of the Notes (voting as a single class) then outstanding Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trusteethe Issuers. The Company shall Issuers may remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof; (2ii) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (3iii) a Custodian, receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (c) If the Trustee resigns or is removed by or if a vacancy exists in the Company or by office of Trustee for any reason, the Issuers shall notify each Securityholder of such event and promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly then outstanding Securities may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee appointed by the Trustee for any reason Issuers. (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. d) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. 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 Noteholderseach Securityholder. 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 each of the Subsidiary Guarantor's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. (e) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuers, any of the Subsidiary Guarantors or the Holders Securityholders of at least 10% in principal amount of the Notes then outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (f) If the Trustee after written request by any Securityholder who has been a Securityholder for at least six months fails to comply with Section 7.10 hereof7.10, any Noteholder such Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Resort Investment LLC)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in aggregate principal amount of the Notes (voting as a single class) Securities then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.10; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in aggregate principal amount of the Notes (voting as a single class) Securities then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.07. The retiring Trustee (or any Trustee removed hereunder) shall have no liability or responsibility for the action or inaction of any successor Trustee. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount of the Notes Securities then outstanding may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder who has been a bona fide Holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (National CineMedia, LLC)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyIssuer in writing. The Holders of a majority in principal amount of the Notes (voting as a single class) then outstanding may remove the Trustee by so notifying the Trustee and the Issuer in writing and may appoint a successor Trustee. The Company Issuer shall be entitled to remove the Trustee and any Holder who has been a bona fide Holder for not less than six months may petition any court for removal of the Trustee and appointment of a successor Trustee, if: (1) the Trustee fails to comply with Section 7.10 hereofTrustee, in its capacity as such, has or acquires a conflict of interest that is not eliminated; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. acting as Trustee hereunder. (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single classpursuant to Section 7.08(a) and such Holders do not reasonably promptly appoint a successor Trustee, hereof or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 this Section 7.07 hereof. If a successor Trustee does not take office within 60 days after For the retiring Trustee resigns or is removed, the retiring Trustee or the Holders avoidance of 10% in principal amount of the Notes may petition, at the Company’s expensedoubt, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement or resignation of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.this

Appears in 1 contract

Samples: Indenture (Altice USA, Inc.)

Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section 7.09. The Trustee may resign at any time and be discharged from the trust hereby created with respect to the Notes by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the then outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trusteethe Company in writing. The Company shall must remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.11 hereof or Section 310 of the TIA; (2ii) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (3iii) a receiver Custodian or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. If Any Holder of Notes may petition any court of competent jurisdiction for the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office removal of the Trustee for any reason (and the appointment of a successor Trustee if the Trustee in fails to comply with Section 7.11 hereof. 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 event being referred to herein notice of resignation or removal, the resigning or removed Trustee, as the retiring Trustee)case may be, may petition, at the Company shall promptly appoint 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 Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee Company shall mail a notice of its the successor Trustee's succession to Noteholdersthe Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder 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 7.08, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee with respect to expenses, losses and liabilities incurred by it prior to such replacement. In case of the appointment hereunder of a successor Trustee, the Company, the retiring Trustee and the Trustee shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which shall: (i) contain such provisions as shall be necessary of desirable to transfer and confirm to, and to vest in, the Trustee all the rights, powers, trusts and duties of the retiring Trustee to which the appointment of such successor Trustee relates; (ii) contain such provisions as shall be necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee; and (iii) add to or change any of the provisions of this Indenture as shall be necessary or desirable to provide for or facilitate the administration of the trusts hereunder by the Trustees. Upon the execution and deliver of such supplemental Indenture, the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Notes to which the appointment of such successor Trustee relates.

Appears in 1 contract

Samples: Indenture (Lear Corp Eeds & Interiors)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing at least 30 days prior to the date of the proposed resignation. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersSecurityholders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Company or the Holders of 10% a majority in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereofor shall fail to comply with TIA Section 310(b), any Noteholder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. If the Trustee is removed without cause, all fees and expenses of the Trustee incurred in the administration of the trusts or in performing the duties hereunder shall be paid to the Trustee prior to the effective date of such removal.

Appears in 1 contract

Samples: Indenture (Citgo Petroleum Corp)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuer in writing not less than 30 days prior to the effective date of such resignation. The Holders of a majority in aggre-gate principal amount of the then outstanding Notes (voting as a single class) may remove the Trustee by so notifying the removed Trustee in writing not less than 30 days prior to the effective date of such removal and may appoint a successor TrusteeTrustee with the Issuer’s written consent, which consent will not be unreasonably withheld. The Company Issuer shall remove the Trustee if: : (1) the Trustee fails to comply with Section 7.10 hereof; ; (2) the Trustee is adjudged bankrupt or insolvent; ; (3) a receiver or other public officer takes charge of the Trustee or its property; or or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Issuer or by the Holders of a majority in aggregate principal amount of the then outstanding Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor TrusteeTrustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee Trus-tee 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 NoteholdersHolders. The retiring Trustee shall shall, at the expense of the Issuer, promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder 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 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.-109-

Appears in 1 contract

Samples: Indenture (Diversey Holdings, Ltd.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuers. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee Issuers and the Trustee, as the case may be, in writing and may appoint a successor Trustee. The Company Issuers shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof; (2) the Trustee is adjudged bankrupt or insolvent; (32) a receiver or other public officer takes charge of the Trustee or its property; or (43) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Issuers or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 hereof7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expenseexpense of the Issuers, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s Issuers’ obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Quiksilver Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCorporation. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee. The Company shall Corporation may remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof8.10; (2) the Trustee is adjudged a bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), trustee) the Company Corporation shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCorporation. Thereupon Immediately after receiving such acceptance, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 8.07, the resignation or removal of the retiring Trustee shall then 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 Noteholders. 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 7.07 hereofeach Securityholder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Corporation or the Holders of 10% a majority in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof8.10, any Noteholder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Exchange Agreement (Ampex Corp /De/)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany with at least 30 days’ prior written notice. The Holders of a majority in principal amount of the then outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof; (2i) the Trustee is adjudged bankrupt or insolvent; (3ii) a receiver or other public officer takes charge of the Trustee or its property; or; (4iii) the Trustee otherwise becomes incapable of acting; or (iv) the Trustee breaches this Indenture. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the then outstanding Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder 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 7.08, 7.7 the Company’s obligations under Section 7.07 hereof 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (United Insurance Holdings Corp.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.7. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee Txxxxxx resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Outstanding Notes may petition, at the Company’s 's expense, any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Dimon Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount at maturity of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Company and the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company’s written consent, which consent shall not be unreasonably withheld. The Company shall may remove the Trustee at its election if: (1) the Trustee fails to comply with Section 7.10 hereof; (2) the Trustee is adjudged a bankrupt or an insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the 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 Noteholders. 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 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of 10% a majority in principal amount at maturity of the outstanding Notes may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Noteholder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s Company obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Language Line Holdings, Inc.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing not less than 30 days prior to the effective date of such resignation. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the removed Trustee in writing not less than 30 days prior to the effective date of such removal and may appoint a successor TrusteeTrustee with the Company’s written consent, which consent will not be unreasonably withheld. The Company shall remove the Trustee if: (1) the Trustee acquires a conflict of interest that is not eliminated; (2) the Trustee fails to comply with Section ‎Section 7.10 hereof; (23) the Trustee is adjudged bankrupt or insolvent; (34) a receiver or other public officer takes charge of the Trustee or its property; or (45) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor TrusteeTrustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. The retiring Trustee shall shall, at the expense of the Company, promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof‎Section 7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof‎Section 7.10, any Noteholder 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 7.08‎Section 7.8, the Company’s obligations under Section 7.07 hereof ‎Section 7.7 shall continue for the benefit of the retiring Trustee. The predecessor Trustee shall have no liability for any action or inaction of any successor Trustee.

Appears in 1 contract

Samples: Indenture (Atento S.A.)

Replacement of Trustee. (a) The Trustee may resign at ---------------------- any time by so notifying the Company. The Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof;7.10; ------------ (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) and such Holders or the Company do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereof7.7. ----------- (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Outstanding Notes may petition, at the Company’s 's expense, any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder ------------ may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the ----------- benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (BGF Industries Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee with respect to the Securities by so notifying with 31 days prior notice to the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.09; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company Company, or is removed by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders of the Securities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07 hereof7.06. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.09, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Transocean 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 7.08. (b) The Trustee may resign at any time and be discharged from the trust hereby created by so notifying the CompanyIssuers. The Holders Securityholders of a majority in principal amount of the Notes (voting as a single class) then outstanding Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trusteethe Issuers. The Company shall Issuers may remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof; (2ii) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Code; (3iii) a Custodian, receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (c) If the Trustee resigns or is removed by or if a vacancy exists in the Company or by office of Trustee for any reason, the Issuers shall notify each Securityholder of such event and promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly then outstanding Securities may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee appointed by the Trustee for any reason Issuers. (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. d) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. 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 Noteholderseach Securityholder. 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 each of the Subsidiary Guarantor's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. (e) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuers, any of the Subsidiary Guarantors or the Holders Securityholders of at least 10% in principal amount of the Notes then outstanding Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (f) If the Trustee after written request by any Securityholder who has been a Securityholder for at least six months fails to comply with Section 7.10 hereof7.10, any Noteholder such Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Appreciation Note Indenture (Central Michigan Distribution Co Lp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall will remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall will promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Neustar Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the CompanyIssuers. If the Trustee is no longer eligible under Section 7.10 or in the circumstances described in TIA Section 310(b), any Holder that satisfies the requirements of TIA Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee in writing and the appointment of a successor Trustee. The Holders of a majority in principal amount of the Notes (voting as a single class) then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuers shall be entitled to remove the Trustee or any Holder who has been a bona fide Holder for not less than six months may petition any court for removal of the Trustee and appointment of a successor Trustee, if: (1i) the Trustee fails to comply with Section 7.10 hereofhas or acquires a conflict of interest that is not eliminated; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or; (4iv) the Trustee otherwise becomes incapable of acting. acting as Trustee hereunder. (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single classpursuant to Section 7.08(a) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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. and the recognition of the retiring Trustee’s lien thereto by the successor Trustee. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s Issuers’ obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee. (g) For the avoidance of doubt, the rights, privileges, protections, immunities and benefits given to the Trustee in this Section 7.08, including its right to be indemnified, are extended to, and shall be enforceable by each Paying Agent, Transfer Agent and Registrar employed to act hereunder. (h) The Trustee agrees to give the notices provided for in, and otherwise comply with, TIA Section 310(b). 49

Appears in 1 contract

Samples: Senior Indenture (NXP Semiconductors N.V.)

Replacement of Trustee. (i) The Trustee may resign at any time by so notifying the CompanyIssuers. The Holders of a majority in principal amount of the Notes (voting as a single class) then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuers shall be entitled to remove the Trustee or any Holder who has been a bona fide Holder for not less than six months may petition any court for removal of the Trustee and appointment of a successor Trustee, if: (1) A. the Trustee fails to comply with Section 7.10 hereof7.11; (2) B. the Trustee has or acquires a conflict of interest in its capacity as Trustee that is not eliminated; C. the Trustee is adjudged bankrupt or insolvent; (3) D. a receiver or other public officer takes charge of the Trustee or its property; or (4) E. the Trustee otherwise becomes incapable of acting. acting as Trustee hereunder. (ii) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single classpursuant to Section 7.07(i) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuers shall promptly appoint a successor Trustee. . (iii) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuers. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this IndentureIndenture and the Notes Documents. The successor Trustee shall mail deliver a notice of its succession to NoteholdersHolders. 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. 7.06. (iv) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, (i) the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If , or (ii) the retiring Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of appoint a successor Trustee. Trustee at any time prior to the date on which a successor Trustee takes office; provided that such appointment is reasonably satisfactory to the Issuers. (v) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.07, the Company’s Issuers’ obligations under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee. (vi) For the avoidance of doubt, the rights, privileges, protections, immunities and benefits given to the Trustee in this Article VII, including its right to be indemnified, are extended to, and shall be enforceable by each Agent employed to act hereunder.

Appears in 1 contract

Samples: Indenture (Ferroglobe PLC)

Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.07. The Trustee may resign at any time by so notifying the CompanyIssuer in writing. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.09; (2ii) the Trustee is adjudged as bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), ) the Company Issuer shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.06. If a successor Trustee Xxxxxxx does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuer or the Holders of 10% a majority in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.09, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.07, the CompanyIssuer’s obligations obligation under Section 7.07 hereof 7.06 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Azul Sa)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company's written consent which consent shall not be unreasonably withheld. The Company shall may remove the Trustee at its election if: (1) the Trustee fails to comply with Section 7.10 hereof; (2) the Trustee is adjudged a bankrupt or an insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company shall promptly notify each Holder of such event and shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07 hereof, transfer all property held by it as Trustee to the successor Trustee (provided all sums owing to the Trustee hereunder have been paid and subject to the lien provided for in Section 7.07 hereof), the resignation or removal of the retiring Trustee 87 -80- shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Noteholder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations of the Company and the Guarantors under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Hayes Lemmerz International Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petitionSecurities may, at the expense of the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (SOUTHERN DEVELOPMENT Co)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee with the consent of the Company, which consent shall not be unreasonably withheld. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersSecurityholders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under 74 67 Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Ero Marketing Inc)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyCompany in writing. The Holders of a majority in principal amount of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall may remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by or if a vacancy exists in the office of Trustee for any reason, the Company or by shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee appointed by the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor TrusteeCompany. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided in Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The A successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereofeach Noteholder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petitionpetition , at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder 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 7.08, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Anchor Glass Container Corp /New)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Company and the Trustee and may appoint a successor Trustee. The Company shall may remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by or if a vacancy exists in the office of Trustee for any reason, the Company or by shall notify each Holder of such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly may appoint a successor Trustee, or if a vacancy exists in Trustee to replace the office of successor Trustee appointed by the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor TrusteeCompany. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon Promptly after that, the retiring Trustee shall, upon payment of its charges hereunder, 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 Noteholders. 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 7.07 hereofeach Holder. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of at least 10% in principal amount of the outstanding Notes may petitionmay, at the expense of the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Coinmach Laundry 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 at any time by so notifying the CompanyCorporation. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trusteethe Corporation. The Company shall Corporation may remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged a bankrupt or an insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company Corporation shall promptly appoint a successor Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation or the Holders of at least 10% in principal amount of the Notes then outstanding may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10(b), any Noteholder who has been a bond 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 if the Trustee fails to comply with the written request of such Noteholder to comply with Section 7.10(b). A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyCorporation. 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 Noteholders. 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 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder 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 7.08, the Company’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee7.07.

Appears in 1 contract

Samples: Indenture (Energy West Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Outstanding Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail give a notice of its succession to NoteholdersHolders. 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 7.07 hereof. 7.7. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Outstanding Notes may petition, at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Homex Development Corp.)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuers in writing. The Holders of a majority in principal amount at maturity of the outstanding Notes (voting as a single class) may remove the Trustee by so notifying the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Issuers' written consent which consent shall not be unreasonably withheld. The Company shall Issuers may remove the Trustee at its election if: (1) the Trustee fails to comply with Section 7.10 hereof; (2) the Trustee is adjudged a bankrupt or an insolvent; (3) a receiver or other public officer takes charge of the Trustee or its propertyProperty; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee)reason, the Company Issuers shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholders. 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 7.07 hereof. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuers or the Holders holders of 10% a majority in principal amount at maturity of the outstanding Notes may petition, at the Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07 hereof, transfer all property held by it as Trustee to the successor Trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Noteholder. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s Issuers' obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Muzak Holdings Finance Corp)

Replacement of Trustee. The Trustee may resign at any time by so notifying the CompanyIssuer. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company Issuer shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10 hereof7.11; (2b) the Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or (4d) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if the Trustee resigns, is removed by the Issuer or a vacancy otherwise exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company Issuer shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the CompanyIssuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 7.07 hereof7.07. If a successor Trustee does not take office within 60 90 calendar days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the Company’s expense, petition any court of competent jurisdiction (at the expense of the Issuer) for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.101, any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the CompanyIssuer’s and the Guarantor’s obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Nabors Industries LTD)

Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10 hereof7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or (4) the Trustee otherwise becomes incapable of acting. If the Trustee resigns or is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to NoteholdersHolders. 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 hereof7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition, at the expense of the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee's duty to resign is stayed as provided in TIA Section 310(b), any Noteholder Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Notwithstanding the replacement of the Trustee pursuant to this Section 7.087.8, the Company’s 's obligations under Section 7.07 hereof 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Quiksilver Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the Notes (voting as a single class) Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: (1i) the Trustee fails to comply with Section 7.10 hereof7.10; (2ii) the Trustee is adjudged bankrupt or insolvent; (3iii) a receiver or other public officer takes charge of the Trustee or its property; or (4iv) the Trustee otherwise becomes incapable of acting. . (b) If the Trustee resigns or resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes (voting as a single class) Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. . (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholdersthe Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien Lien provided for in Section 7.07 hereof. 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes Securities may petition, petition at the Company’s expense, expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee. . (e) If the Trustee fails to comply with Section 7.10 hereof7.10, unless the Trustee's duty to resign is stayed as provided in Section 310(b) of the TIA, any Noteholder Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. . (f) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08Section, the Company’s 's obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Samples: Indenture (Nalco Energy Services Equatorial Guinea LLC)

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