Common use of Replacement of Trustees Clause in Contracts

Replacement of Trustees. (1) A Trustee may resign at any time by written notice to the Corporation. (2) The holders pursuant to an Extraordinary Resolution may remove a Trustee by written notice to the Trustees. (3) If a Trustee is no longer eligible under Section 15.9 or in the circumstances described in Section 310(b) Trust Indenture Act, any holder that satisfies the requirements of Section 310(b) of the Trust Indenture Act may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (4) The Corporation may remove a Trustee if: (i) the Trustee is no longer eligible under Section 15.9; (ii) the Trustee is adjudged a bankrupt or an insolvent; (iii) a receiver or other public officer takes charge of the Trustee or their property; or (iv) the Trustee becomes incapable of acting. A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 15.7. (b) If a Trustee has been removed by the holders, holders pursuant to an Extraordinary Resolution may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Corporation will promptly appoint a successor Trustee. If the successor Trustee does not deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation or any Debentureholder may petition any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (c) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the Corporation, (i) the retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, (ii) the resignation or removal of the retiring Trustee will become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the Corporation will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation will give notice of any resignation and any removal of a Trustee and each appointment of a successor Trustee to all holders, and include in the notice the name of the successor Trustee and the address of its principal office. (d) Notwithstanding replacement of a Trustee pursuant to this Section, the Corporation’s obligations under Section 15.9 will continue for the benefit of the retiring Trustee. (e) The Trustees agree to give the notices provided for in, and otherwise comply with, Section 310(b) of the Trust Indenture Act.

Appears in 2 contracts

Samples: Convertible Debenture Indenture (Energy Fuels Inc), Convertible Debenture Indenture (Energy Fuels Inc)

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Replacement of Trustees. (1a) A Trustee The Trustees may resign at any time by written giving 30 days’ prior notice of such resignation to the Corporation. (2) Company and be discharged from the trust hereby created by so notifying the Company. The holders pursuant to an Extraordinary Resolution Holders of a majority in aggregate principal amount of the outstanding Notes may remove a Trustee by written notice to so notifying such Trustee and the Trustees.Company 30 days prior in writing. The Company shall remove a Trustee if: (3i) If a such Trustee is no longer eligible under Section 15.9 7.10; (ii) such Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to such Trustee under any Bankruptcy Law; (iii) a receiver or public officer takes charge of such Trustee or its property; or (iv) such Trustee otherwise becomes incapable of acting. (b) If a Trustee resigns or has been removed by the Holders, Holders of a majority in principal amount of the outstanding Notes may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed (and such Holders do not reasonably promptly appoint a successor Trustee), or if a vacancy exists in the circumstances described 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 then outstanding Notes may remove the successor Trustee to replace it with another successor Trustee appointed by the Company. The U.S. Trustee can only be replaced by another U.S. Trustee and the Canadian Trustee can only be replaced by another Canadian Trustee, unless the responsibilities and obligations of the U.S. Trustee and the Canadian Trustee have been combined into a single trustee or the Canadian Trustee has been removed, in each case, pursuant to Section 9.1(a)(xiii). (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 send a notice of its succession to Holders, and include in the notice its name and address of its corporate trust office. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 310(b7.7. (d) Trust Indenture ActIf a successor Xxxxxxx does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in principal amount of the Notes may petition, at the expense of the Company, any holder that satisfies court of competent jurisdiction for the requirements appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 310(b) 7.10, any Holder of the Trust Indenture Act Notes may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeTrustee with respect to the Notes. (4f) The Corporation may remove a Trustee if: (i) Notwithstanding the Trustee is no longer eligible under Section 15.9; (ii) the Trustee is adjudged a bankrupt or an insolvent; (iii) a receiver or other public officer takes charge replacement of the Trustee or their property; or (iv) the Trustee becomes incapable of acting. A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 15.7. (b) If a Trustee has been removed by the holders, holders pursuant to an Extraordinary Resolution may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Corporation will promptly appoint a successor Trustee. If the successor Trustee does not deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation or any Debentureholder may petition any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (c) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the Corporation, (i) the retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, (ii) the resignation or removal of the retiring Trustee will become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the Corporation will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation will give notice of any resignation and any removal of a Trustee and each appointment of a successor Trustee to all holders, and include in the notice the name of the successor Trustee and the address of its principal office. (d) Notwithstanding replacement of a Trustee pursuant to this SectionSection 7.8, the CorporationCompany’s obligations under Section 15.9 will 7.7 shall continue for the benefit of the retiring Trustee. (e) The Trustees agree to give the notices provided for in, and otherwise comply with, Section 310(b) of the Trust Indenture Act.

Appears in 2 contracts

Samples: Indenture (Open Text Corp), Indenture (Open Text Corp)

Replacement of Trustees. (1a) A Trustee The Trustees may resign at any time by written giving 30 days’ prior notice of such resignation to the Corporation. (2) Company and be discharged from the trust hereby created by so notifying the Company. The holders pursuant to an Extraordinary Resolution Holders of a majority in aggregate principal amount of the outstanding Notes may remove a Trustee by written notice to so notifying such Trustee and the Trustees.Company 30 days prior in writing. The Company shall remove a Trustee if: (3i) If a such Trustee is no longer eligible under Section 15.9 7.10; (ii) such Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to such Trustee under any Bankruptcy Law; (iii) a receiver or public officer takes charge of such Trustee or its property; or (iv) such Trustee otherwise becomes incapable of acting. (b) If a Trustee resigns or has been removed by the Holders, Holders of a majority in principal amount of the outstanding Notes may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed (and such Holders do not reasonably promptly appoint a successor Trustee), or if a vacancy exists in the circumstances described 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 then outstanding Notes may remove the successor Trustee to replace it with another successor Trustee appointed by the Company. The U.S. Trustee can only be replaced by another U.S. Trustee and the Canadian Trustee can only be replaced by another Canadian Trustee, unless the responsibilities and obligations of the U.S. Trustee and the Canadian Trustee have been combined into a single trustee or the Canadian Trustee has been removed, in each case, pursuant to Section 9.1(a)(xiii). (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 send a notice of its succession to Holders, and include in the notice its name and address of its corporate trust office. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 310(b7.7. (d) Trust Indenture ActIf a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in principal amount of the Notes may petition, at the expense of the Company, any holder that satisfies court of competent jurisdiction for the requirements appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 310(b) 7.10, any Holder of the Trust Indenture Act Notes may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeTrustee with respect to the Notes. (4f) The Corporation may remove a Trustee if: (i) Notwithstanding the Trustee is no longer eligible under Section 15.9; (ii) the Trustee is adjudged a bankrupt or an insolvent; (iii) a receiver or other public officer takes charge replacement of the Trustee or their property; or (iv) the Trustee becomes incapable of acting. A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 15.7. (b) If a Trustee has been removed by the holders, holders pursuant to an Extraordinary Resolution may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Corporation will promptly appoint a successor Trustee. If the successor Trustee does not deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation or any Debentureholder may petition any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (c) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the Corporation, (i) the retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, (ii) the resignation or removal of the retiring Trustee will become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the Corporation will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation will give notice of any resignation and any removal of a Trustee and each appointment of a successor Trustee to all holders, and include in the notice the name of the successor Trustee and the address of its principal office. (d) Notwithstanding replacement of a Trustee pursuant to this SectionSection 7.8, the CorporationCompany’s obligations under Section 15.9 will 7.7 shall continue for the benefit of the retiring Trustee. (e) The Trustees agree to give the notices provided for in, and otherwise comply with, Section 310(b) of the Trust Indenture Act.

Appears in 2 contracts

Samples: Indenture (Open Text Corp), Indenture (Open Text Corp)

Replacement of Trustees. (1) A Trustee The Trustees may resign at any time by written notice so notifying the Issuer in writing not less than 30 days prior to the Corporation. (2) effective date of such resignation. The holders pursuant to an Extraordinary Resolution Holders of a majority in principal amount of the Notes may remove a Trustee by written notice so notifying the removed Trustee in writing not less than 30 days prior to the Trustees. (3) If a Trustee is no longer eligible under Section 15.9 or in the circumstances described in Section 310(b) Trust Indenture Act, any holder that satisfies the requirements effective date of Section 310(b) of the Trust Indenture Act such removal and may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of appoint a successor Trustee. (4) Trustee with the Issuer’s written consent, which consent will not be unreasonably withheld. The Corporation may Issuer shall remove a Trustee if: : (i1) the a Trustee is no longer eligible under fails to comply with Section 15.9; 7.10 hereof; (ii2) the a Trustee is adjudged a bankrupt or an insolvent; ; (iii3) a receiver or other public officer takes charge of the a Trustee or their its property; or or (iv4) the a Trustee otherwise becomes incapable of acting. A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 15.7. (b) If a Trustee has been removed by the holders, holders pursuant to an Extraordinary Resolution may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removedremoved by the Issuer or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee as described in the preceding paragraph, or if a vacancy exists in the office of a Trustee for any reasonreason (a Trustee in such event being referred to herein as the retiring Trustee), the Corporation will Issuer shall promptly appoint a successor Trustee. If the A successor Trustee does not shall deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation or any Debentureholder may petition any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (c) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the Corporation, (i) Issuer. Thereupon the resignation or removal of the retiring Trustee will shall become effective, and the successor Trustee shall have all the rights, powers and duties of a Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall, at the expense of the Issuer, promptly transfer all property held by it as Trustee to the successor Trustee, (ii) subject to the resignation or removal of lien provided for in Section 7.7, and the recognition thereof by the successor Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee will become effectiveresigns or is removed, and (iii) the successor retiring Trustee will have all or the rights, powers and duties Holders of at least 10% in principal amount of the Trustee under this Indenture. Upon request Notes may petition, at the Issuer’s expense, any court of any successor Trustee, competent jurisdiction for the Corporation will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation will give notice of any resignation and any removal of a Trustee and each appointment of a successor Trustee. If a Trustee fails to all holderscomply with Section 7.10, and include in any Holder, who has been a bona fide holder of a Note for at least six months, may petition any court of competent jurisdiction for the notice the name removal of the successor such Trustee and the address appointment of its principal office. (d) a successor Trustee. Notwithstanding the replacement of a Trustee pursuant to this SectionSection 7.8, the CorporationIssuer’s obligations under Section 15.9 will 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. (e) The Trustees agree to give the notices provided for in, and otherwise comply with, Section 310(b) of the Trust Indenture Act.

Appears in 2 contracts

Samples: Indenture (Cott Corp /Cn/), Indenture (Cott Corp /Cn/)

Replacement of Trustees. (1) A Trustee The Trustees may resign at any time by written notice so notifying the Issuer in writing not less than 30 days prior to the Corporation. (2) effective date of such resignation. The holders pursuant to an Extraordinary Resolution Holders of a majority in principal amount of the Notes may remove a Trustee by written notice so notifying the removed Trustee in writing not less than 30 days prior to the Trustees. (3) If a Trustee is no longer eligible under Section 15.9 or in the circumstances described in Section 310(b) Trust Indenture Act, any holder that satisfies the requirements effective date of Section 310(b) of the Trust Indenture Act such removal and may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of appoint a successor Trustee. (4) Trustee with the Issuer’s written consent, which consent will not be unreasonably withheld. The Corporation may Issuer shall remove a Trustee if: : (i1) the a Trustee is no longer eligible under fails to comply with Section 15.9; 7.10 hereof; (ii2) the a Trustee is adjudged a bankrupt or an insolvent; ; (iii3) a receiver or other public officer takes charge of the a Trustee or their its property; or or (iv4) the a Trustee otherwise becomes incapable of acting. A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 15.7. (b) If a Trustee has been removed by the holders, holders pursuant to an Extraordinary Resolution may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removedremoved by the Issuer or by the Holders of a majority in principal amount of the Notes and such Holders do not reasonably promptly appoint a successor Trustee as described in the preceding paragraph, or if a vacancy exists in the office of a Trustee for any reasonreason (a Trustee in such event being referred to herein as the retiring Trustee), the Corporation will Issuer shall promptly appoint a successor Trustee. If the A successor Trustee does not shall deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation or any Debentureholder may petition any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (c) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the Corporation, (i) Issuer. Thereupon the resignation or removal of the retiring Trustee will shall become effective, and the successor Trustee shall have all the rights, powers and duties of a Trustee under this Indenture. The successor Trustee shall mail or electronically transmit a notice of its succession to Holders. The retiring Trustee shall, at the expense of the Issuer, promptly transfer all property held by it as Trustee to the successor Trustee, (ii) subject to the resignation or removal of lien provided for in Section 7.7, and the recognition thereof by the successor Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee will become effectiveresigns or is removed, and (iii) the successor retiring Trustee will have all or the rights, powers and duties Holders of at least 10% in principal amount of the Trustee under this Indenture. Upon request Notes may petition, at the Issuer’s expense, any court of any successor Trustee, competent jurisdiction for the Corporation will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation will give notice of any resignation and any removal of a Trustee and each appointment of a successor Trustee. If a Trustee fails to all holderscomply with Section 7.10, and include in any Holder, who has been a bona fide holder of a Note for at least six months, may petition any court of competent jurisdiction for the notice the name removal of the successor such Trustee and the address appointment of its principal office. (d) a successor Trustee. Notwithstanding the replacement of a Trustee pursuant to this SectionSection 7.8, the CorporationIssuer’s obligations under Section 15.9 will 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. (e) The Trustees agree to give the notices provided for in, and otherwise comply with, Section 310(b) of the Trust Indenture Act.

Appears in 2 contracts

Samples: Indenture (Primo Water Corp /CN/), Indenture (Primo Water Corp /CN/)

Replacement of Trustees. (1a) Subject to Section 6.6(b), Trustees may be appointed or removed without cause at any time: (i) until the issuance of any Securities, by written instrument executed by the Sponsor; (ii) after the issuance of any Securities, but not while an Indenture Event of Default has occurred and is continuing, by vote of the Holders of a Majority in Liquidation Amount of the Common Securities voting as a class at a meeting of the Holders of the Common Securities; and (iii) after the issuance of the Preferred Securities during the continuance of an Indenture Event of Default, by vote of the Holders of a Majority in Liquidation Amount of the Preferred Securities. (b) A Trustee may resign at any time with respect to the Securities by written so notifying the Sponsor and the Trust. A resignation or removal of the Property Trustee or Delaware Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section or, in the case of the resignation of the Property Trustee, if the assets of the Trust have been completely liquidated and the proceeds distributed to the Holders of the Securities. The resignation of an Administrative Trustee is effective upon delivery of notice to the CorporationSponsor and the Trust. (2c) The holders pursuant to an Extraordinary Resolution Holders of the Common Securities may remove the Property Trustee or Delaware Trustee if: (i) the Trustee fails to comply with Section 6.3, in the case of the Property Trustee, or Section 6.2 in the case of the Delaware Trustee; (ii) the Trustee is adjudged a Trustee by written notice bankrupt or an insolvent or an order for relief is entered with respect to the TrusteesTrustee under any bankruptcy law or law for the relief of debtors generally; (iii) a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) takes charge of the Trustee or its property; or (iv) the Trustee becomes incapable of acting. (3d) If a Trustee resigns or is no longer eligible under Section 15.9 removed or if a vacancy exists in the circumstances described office of a Trustee for any reason, the Holders of the Common Stock shall promptly appoint a successor Trustee. (e) If a successor Property Trustee or Delaware Trustee does not take office within 60 days after the retiring Property Trustee or Delaware Trustee, as the case may be, resigns or is removed, the retiring Trustee, the Sponsor or the Holders of at least 10% in Liquidation Amount of the Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. (f) If the Property Trustee fails to comply with Section 310(b) Trust Indenture Act6.3, any holder that satisfies the requirements Holder of Section 310(b) of the Trust Indenture Act Securities may petition any court of competent jurisdiction for the removal of the Property Trustee and the appointment of a successor Property Trustee. (4g) The Corporation may remove a A successor Property Trustee if: (i) the Trustee is no longer eligible under Section 15.9; (ii) the Trustee is adjudged a bankrupt or an insolvent; (iii) a receiver or other public officer takes charge of the Trustee or their property; or (iv) the Trustee becomes incapable of acting. A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 15.7. (b) If a Trustee has been removed by the holders, holders pursuant to an Extraordinary Resolution may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Corporation will promptly appoint a successor Trustee. If the successor Trustee does not shall deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation or any Debentureholder may petition any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (c) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Property Trustee and to the CorporationTrust and Sponsor. Immediately after that, (i) the retiring Property Trustee will shall transfer all property held by it as Property Trustee to the successor Property Trustee, (ii) the resignation or removal of the retiring Property Trustee will shall become effective, and (iii) the successor Property Trustee will shall have all the rights, powers and duties of the Property Trustee. A successor Property Trustee under this Indenture. Upon request of any successor Trustee, the Corporation will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation will give shall mail a notice of any resignation and any removal of a Trustee and its succession to each appointment of a successor Trustee to all holders, and include in the notice the name of the successor Trustee and the address of its principal office. (d) Holder. Notwithstanding replacement of a the Property Trustee pursuant to this SectionSection 6.6, the Corporation’s Sponsor's obligations under Section 15.9 will 4.2 hereof shall continue for the benefit of the retiring TrusteeProperty Trustee with respect to expenses and liabilities incurred by it prior to such replacement. (eh) The Trustees agree A successor Delaware Trustee shall deliver a written acceptance of its appointment to give the notices provided for inretiring Delaware Trustee and to the Trust and Sponsor. Immediately after that, the resignation or removal of the retiring Delaware Trustee shall become effective, and otherwise comply withthe successor Delaware Trustee shall have all the rights, Section 310(b) powers and duties of the Trust Indenture ActDelaware Trustee. A successor Delaware Trustee shall mail a notice of its succession to each Holder.

Appears in 2 contracts

Samples: Trust Agreement (Fonovisa Inc), Trust Agreement (Disney Capital Trust I)

Replacement of Trustees. (1a) A Trustee The Trustees may resign at any time by written giving 30 days’ prior notice of such resignation to the Corporation. (2) Company and be discharged from the trust hereby created by so notifying the Company. The holders pursuant to an Extraordinary Resolution Holders of a majority in aggregate principal amount of the outstanding Notes may remove a Trustee by written notice to so notifying such Trustee and the Trustees.Company in writing. The Company shall remove a Trustee if: (3i) If a such Trustee is no longer eligible under Section 15.9 7.10; (ii) such Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to such Trustee under any Bankruptcy Law; (iii) a receiver or public officer takes charge of such Trustee or its property; or (iv) such Trustee otherwise becomes incapable of acting. (b) If a Trustee resigns or has been removed by the Holders, Holders of a majority in principal amount of the outstanding Notes may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed (and such Holders do not reasonably promptly appoint a successor Trustee), or if a vacancy exists in the circumstances described 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 then outstanding Notes may remove the successor Trustee to replace it with another successor Trustee appointed by the Company. The U.S. Trustee can only be replaced by another U.S. Trustee and the Canadian Trustee can only be replaced by another Canadian Trustee, unless the responsibilities and obligations of the U.S. Trustee and the Canadian Trustee have been combined into a single trustee or the Canadian Trustee has been removed, in each case, pursuant to Section 9.1(a)(xiii). (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 send a notice of its succession to Holders, and include in the notice its name and address of its corporate trust office. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 310(b7.7. (d) Trust Indenture ActIf a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in principal amount of the Notes may petition, at the expense of the Company, any holder that satisfies court of competent jurisdiction for the requirements appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 310(b) 7.10, any Holder of the Trust Indenture Act Notes may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor TrusteeTrustee with respect to the Notes. (4f) The Corporation may remove a Trustee if: (i) Notwithstanding the Trustee is no longer eligible under Section 15.9; (ii) the Trustee is adjudged a bankrupt or an insolvent; (iii) a receiver or other public officer takes charge replacement of the Trustee or their property; or (iv) the Trustee becomes incapable of acting. A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 15.7. (b) If a Trustee has been removed by the holders, holders pursuant to an Extraordinary Resolution may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Corporation will promptly appoint a successor Trustee. If the successor Trustee does not deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation or any Debentureholder may petition any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (c) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the Corporation, (i) the retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, (ii) the resignation or removal of the retiring Trustee will become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the Corporation will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation will give notice of any resignation and any removal of a Trustee and each appointment of a successor Trustee to all holders, and include in the notice the name of the successor Trustee and the address of its principal office. (d) Notwithstanding replacement of a Trustee pursuant to this SectionSection 7.8, the CorporationCompany’s obligations under Section 15.9 will 7.7 shall continue for the benefit of the retiring Trustee. (e) The Trustees agree to give the notices provided for in, and otherwise comply with, Section 310(b) of the Trust Indenture Act.

Appears in 1 contract

Samples: Indenture (Open Text Corp)

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Replacement of Trustees. (1a) A Trustee The Trustees may resign at any time by written giving 30 days’ prior notice of such resignation to the Corporation. (2) Company and be discharged from the trust hereby created by so notifying the Company. The holders pursuant to an Extraordinary Resolution Holders of a majority in aggregate principal amount of the outstanding Notes may remove a Trustee by written notice to so notifying such Trustee and the Trustees.Company in writing. The Company shall remove a Trustee if: (31) If a such Trustee is no longer eligible under Section 15.9 or in the circumstances described in Section 310(b) Trust Indenture Act, any holder that satisfies the requirements of Section 310(b) of the Trust Indenture Act may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.7.10; (42) The Corporation may remove a Trustee if: (i) the Trustee is no longer eligible under Section 15.9; (ii) the such Trustee is adjudged a bankrupt or an insolvent; insolvent or an order for relief is entered with respect to such Trustee under any Bankruptcy Law; (iii3) a receiver or other public officer takes charge of the such Trustee or their its property; or or (iv4) the such Trustee otherwise becomes incapable of acting. A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 15.7. (b) If a Trustee resigns or has been removed by the holdersHolders, holders pursuant to an Extraordinary Resolution Holders of a majority in principal amount of the outstanding Notes may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Corporation will Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the successor Trustee to replace it with another successor Trustee appointed by the Company. The U.S. Trustee can only be replaced by another U.S. Trustee and the Canadian Trustee can only be replaced by another Canadian 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 send a notice of its succession to Holders, and include in the notice its name and address of its corporate trust office. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. (d) If the a successor Trustee does not deliver its written acceptance take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation Company or any Debentureholder the Holders of at least 10% in principal amount of the Notes may petition petition, at the expense of the Company, any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (ce) Upon delivery by If the successor Trustee fails to comply with Section 7.10, any Holder of a written acceptance Notes may petition any court of its appointment to competent jurisdiction for the retiring Trustee and to the Corporation, (i) the retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, (ii) the resignation or removal of the retiring Trustee will become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the Corporation will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation will give notice of any resignation and any removal of a Trustee and each the appointment of a successor Trustee with respect to all holders, and include in the notice the name of the successor Trustee and the address of its principal officeNotes. (df) Notwithstanding the replacement of a the Trustee pursuant to this SectionSection 7.08, the CorporationCompany’s obligations under Section 15.9 will 7.07 shall continue for the benefit of the retiring Trustee. (e) The Trustees agree to give the notices provided for in, and otherwise comply with, Section 310(b) of the Trust Indenture Act.

Appears in 1 contract

Samples: Indenture (Iamgold Corp)

Replacement of Trustees. (1a) A Trustee The Trustees may resign at any time by written giving 30 days’ prior notice of such resignation to the Corporation. (2) Company and be discharged from the trust hereby created by so notifying the Company. The holders pursuant to an Extraordinary Resolution Holders of a majority in aggregate principal amount of the outstanding Notes may remove a Trustee by written notice to so notifying such Trustee and the Trustees.Company in writing. The Company shall remove a Trustee if: (31) If a such Trustee is no longer eligible under Section 15.9 or in the circumstances described in Section 310(b) Trust Indenture Act, any holder that satisfies the requirements of Section 310(b) of the Trust Indenture Act may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.7.09; (42) The Corporation may remove a Trustee if: (i) the Trustee is no longer eligible under Section 15.9; (ii) the such Trustee is adjudged a bankrupt or an insolvent; insolvent or an order for relief is entered with respect to such Trustee under any Bankruptcy Law; (iii3) a receiver or other public officer takes charge of the such Trustee or their its property; or or (iv4) the such Trustee otherwise becomes incapable of acting. A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 15.7. (b) If a Trustee resigns or has been removed by the holdersHolders, holders pursuant to an Extraordinary Resolution Holders of a majority in principal amount of the outstanding Notes may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Corporation will Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the successor Trustee to replace it with another successor Trustee appointed by the Company. The U.S. Trustee can only be replaced by another U.S. Trustee and the Canadian Trustee can only be replaced by another Canadian 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 send a notice of its succession to Holders, and include in the notice its name and address of its corporate trust office. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.06. (d) If the a successor Trustee does not deliver its written acceptance take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation Company or any Debentureholder the Holders of at least 10% in principal amount of the Notes may petition petition, at the expense of the Company, any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (ce) Upon delivery by If the successor Trustee fails to comply with Section 7.09, any Holder of a written acceptance Notes may petition any court of its appointment to competent jurisdiction for the retiring Trustee and to the Corporation, (i) the retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, (ii) the resignation or removal of the retiring Trustee will become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the Corporation will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation will give notice of any resignation and any removal of a Trustee and each the appointment of a successor Trustee with respect to all holders, and include in the notice the name of the successor Trustee and the address of its principal officeNotes. (df) Notwithstanding the replacement of a the Trustee pursuant to this SectionSection 7.07, the CorporationCompany’s obligations under Section 15.9 will 7.06 shall continue for the benefit of the retiring Trustee. (e) The Trustees agree to give the notices provided for in, and otherwise comply with, Section 310(b) of the Trust Indenture Act.

Appears in 1 contract

Samples: Indenture (Iamgold Corp)

Replacement of Trustees. (1a) A Trustee The Trustees may resign at any time by written giving 30 days’ prior notice of such resignation to the Corporation. (2) Company and be discharged from the trust hereby created by so notifying the Company. The holders pursuant to an Extraordinary Resolution Holders of a majority in aggregate principal amount of the outstanding Notes may remove a Trustee by written notice to the Trustees. (3) If a Trustee is no longer eligible under Section 15.9 or in the circumstances described in Section 310(b) Trust Indenture Act, any holder that satisfies the requirements of Section 310(b) of the Trust Indenture Act may petition any court of competent jurisdiction for the removal of the so notifying such Trustee and the appointment of a successor Trustee. (4) Company in writing. The Corporation may Company shall remove a Trustee if: : (i1) the such Trustee is no longer eligible under fails to comply with Section 15.9; 7.10; (ii2) the such Trustee is adjudged a bankrupt or an insolvent; insolvent or an order for relief is entered with respect to such Trustee under any Bankruptcy Law; (iii3) a receiver or other public officer takes charge of the such Trustee or their its property; or or (iv4) the such Trustee otherwise becomes incapable of acting. A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 15.7. (b) If a Trustee resigns or has been removed by the holdersHolders, holders pursuant to an Extraordinary Resolution Holders of a majority in principal amount of the outstanding Notes may appoint a successor Trustee. Otherwise, if a Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Corporation will Company shall promptly appoint a successor Trustee. If Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the successor Trustee to replace it with another successor Trustee appointed by the Company. (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 send a notice of its succession to Holders, and include in the notice its name and address of its corporate trust office. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. (d) If a successor Xxxxxxx does not deliver its written acceptance take office within 30 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation Company or any Debentureholder the Holders of at least 10% in principal amount of the Notes may petition petition, at the expense of the Company, any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (ce) Upon delivery by If the successor Trustee fails to comply with Section 7.10, any Holder of a written acceptance Notes may petition any court of its appointment to competent jurisdiction for the retiring Trustee and to the Corporation, (i) the retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, (ii) the resignation or removal of the retiring Trustee will become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the Corporation will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation will give notice of any resignation and any removal of a Trustee and each the appointment of a successor Trustee with respect to all holders, and include in the notice the name of the successor Trustee and the address of its principal officeNotes. (df) Notwithstanding the replacement of a the Trustee pursuant to this SectionSection 7.08, the CorporationCompany’s obligations under Section 15.9 will 7.07 shall continue for the benefit of the retiring Trustee. (e) The Trustees agree to give the notices provided for in, and otherwise comply with, Section 310(b) of the Trust Indenture Act.

Appears in 1 contract

Samples: Indenture

Replacement of Trustees. (1a) A Trustee may resign at any time by written notice to the CorporationXxxx. (2b) The holders pursuant to an Holders of the Rights may, by Extraordinary Resolution may remove a Trustee by written notice to Aura and the TrusteesTrustee. (3c) If a Trustee is no longer eligible under Section 15.9 8.8 or in the circumstances U.S. Trustee is no longer eligible due to a conflicting interest as described in Trust Indenture Act Section 310(b) Trust Indenture Act), any holder that satisfies the requirements of Trust Indenture Act Section 310(b) of the Trust Indenture Act may petition any court of competent jurisdiction for the removal of the applicable Trustee and the appointment of a successor Trustee. (4d) The Corporation Aura may remove a Trustee if: (i) the Trustee is no longer eligible under pursuant Section 15.98.8; (ii) the Trustee is adjudged a as bankrupt or as insolvent or an insolventorder for relief is entered with respect to the Trustee under any bankruptcy, insolvency or other similar law; (iii) a receiver or custodian or other public officer takes charge of the Trustee or their property; or (iv) the Trustee becomes incapable of acting. . (e) A resignation or removal of a Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s Xxxxxxx's acceptance of appointment as provided in this Section 15.78.3. (bf) If a the Trustee has been removed by the holders, holders pursuant to an Extraordinary Resolution of a majority of the Rights may appoint a successor TrusteeTrustee with the consent of Aura. Otherwise, if a Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Corporation Xxxx will promptly appoint a successor Trustee. If the successor Trustee does not deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, Xxxx or the retiring Trustee, at the Corporation expense of Aura, or any Debentureholder the holders of a majority of the Rights may petition any court of competent jurisdiction at the expense of the Corporation in the case of the Trustee, for the appointment of a successor Trustee. (cg) Upon delivery by the successor Trustee of a written acceptance of its appointment to the retiring Trustee and to the CorporationAura, (i) the retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, (ii) the resignation or removal of the retiring Trustee will become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the U.S. Trustee or the Canadian Trustee, as applicable, under this Indenture. Upon request of any successor Trustee, the Corporation Xxxx will execute any and all instruments for fully and vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Corporation Xxxx will give notice of any resignation and any removal of a Trustee and each appointment of a successor Trustee to all holders, and include in the notice the name of the successor Trustee and the address of its principal office. (d) Notwithstanding replacement of a Trustee pursuant to this Section, the Corporation’s obligations under Section 15.9 will continue for the benefit of the retiring Trustee. (eh) The Trustees agree Trustee agrees to give the notices provided for in, and otherwise comply with, Trust Indenture Act Section 310(b). (i) If the U.S. Trustee or Canadian Trustee consolidates with, amalgamates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation or national banking association, the Trust Indenture Actresulting, surviving or transferee corporation or national banking association without any further act shall be the successor U.S. Trustee or Canadian Trustee, as applicable, with the same effect as if the successor U.S. Trustee or Canadian Trustee, as applicable, had been named as the U.S. Trustee or Canadian Trustee, as applicable, in this Indenture.

Appears in 1 contract

Samples: Rights Indenture (Aura Minerals Inc.)

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