Common use of Resignation and Removal; Appointment of Successor Trustee and Successor Securities Administrator Clause in Contracts

Resignation and Removal; Appointment of Successor Trustee and Successor Securities Administrator. (a) The Trustee, or any trustee or trustees hereafter appointed or the Securities Administrator, or any securities administrator, hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the Issuer and the Guarantor and by mailing notice of such resignation to the Holders of then Outstanding Registered Securities of each series affected at their addresses as they shall appear on the registry books. Upon receiving such notice of resignation, the Issuer or the Guarantor shall promptly appoint a successor trustee or trustees or a successor securities administrator or securities administrators with respect to the applicable series by written instrument in duplicate, executed by authority of its board of directors, one copy of which instrument shall be delivered to the resigning Trustee or resigning Securities Administrator, as applicable and one copy to the successor trustee or trustees or successor securities administrator or securities administrators, as applicable. If no successor trustee or successor securities administrator, as applicable shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning trustee or successor securities administrator, as applicable may petition any court of competent jurisdiction for the appointment of a successor trustee or successor securities administrator, as applicable, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.12 on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee or successor securities administrator, as applicable. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee or successor securities administrator, as applicable.

Resignation and Removal; Appointment of Successor Trustee and Successor Securities Administrator. (a) Article 1 The Trustee, or any trustee or trustees hereafter appointed or the Securities Administrator, or any securities administrator, hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the Issuer and the Guarantor and by mailing notice of such resignation to the Holders of then Outstanding Registered Securities of each series affected at their addresses as they shall appear on the registry books. Upon receiving such notice of resignation, the Issuer or the Guarantor shall promptly appoint a successor trustee or trustees or a successor securities administrator or securities administrators with respect to the applicable series by written instrument in duplicate, executed by authority of its board of directors, one copy of which instrument shall be delivered to the resigning Trustee or resigning Securities Administrator, as applicable and one copy to the successor trustee or trustees or successor securities administrator or securities administrators, as applicable. If no successor trustee or successor securities administrator, as applicable shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning trustee or successor securities administrator, as applicable may petition any court of competent jurisdiction for the appointment of a successor trustee or successor securities administrator, as applicable, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.12 on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee or successor securities administrator, as applicable. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee or successor securities administrator, as applicable.

Resignation and Removal; Appointment of Successor Trustee and Successor Securities Administrator. (a) The Trustee, or any trustee or trustees hereafter appointed or the Securities Administrator, or any securities administrator, hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the Issuer and the Guarantor and by mailing notice of such resignation to the Holders of then Outstanding Registered Securities of each series affected at their addresses as they shall appear on the registry books. Upon receiving such notice of resignation, the Issuer or the Guarantor shall promptly appoint a successor trustee or trustees or a successor securities administrator or securities administrators with respect to the applicable series by written instrument in duplicate, executed by authority of its board of directors, one copy of which instrument shall be delivered to the resigning Trustee or resigning Securities Administrator, as applicable and one copy to the successor trustee or trustees or successor securities administrator or securities administrators, as applicable. If no successor trustee or successor securities administrator, as applicable shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such 41 notice of resignation, the resigning trustee or successor securities administrator, as applicable may petition any court of competent jurisdiction for the appointment of a successor trustee or successor securities administrator, as applicable, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.12 on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee or successor securities administrator, as applicable. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee or successor securities administrator, as applicable.