Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611. (b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee. (c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company. (d) If at any time: (1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, (2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or (3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. (f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 10 contracts
Samples: Exhibit (Sonic Automotive Clearwater Inc), Exhibit (Sonic Automotive Inc), Indenture (Uag Mentor Acquisition LLC)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time time, upon 30 days prior or written notice, resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of or resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyDirectors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 6.9 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it ii may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6116.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 8 contracts
Samples: Indenture (Bally Total Fitness Holding Corp), Indenture (Bally Total Fitness Holding Corp), Indenture (Bally Total Fitness Holding Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article 8 shall become effective until the acceptance of appointment by the successor trustee under Section 6118.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, at the expense of the Company, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act TIA Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 8.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5147.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6118.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5147.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Registerregister of the Registrar. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 7 contracts
Samples: Indenture (General Cable Corp /De/), Indenture (General Cable Corp /De/), Indenture (Diversified Contractors Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice thereof of resignation to the Company no later than 20 Business Days prior to the proposed date of resignationIssuer. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee trustee and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have been delivered so appointed with respect to the Trustee any series of Securities and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maytrustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 5.9, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 6.8 with respect to any series of Securities after written request therefor by the Company Issuer or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months,; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 6.9 and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by written instrument, or (ii) in duplicate, executed by order of the Board of Directors one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514the provisions of Article Five, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities of each series then Outstanding may at any time remove the Trustee with respect to Securities delivered of such series and appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 7.1 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the CompanySecurityholders. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities with respect to any series and have accepted appointment in within 30 days after the manner hereinafter provideddelivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or the Holder of any Security 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 5145.9, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series of Securities and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 6.11.
Appears in 6 contracts
Samples: Indenture (Hovnanian Enterprises Inc), Indenture (Hovnanian Enterprises Inc), Indenture (Hovnanian Enterprises Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the The Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to the Securities of one or more series by giving written notice thereof of resignation to the Company no later than 20 Business Days prior and to the proposed date Holders of resignationSecurities of such series, such notice to the Holders to be given by mailing (by first class mail) the same within 30 days after such notice is given to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trustee. If an instrument of acceptance by a no successor trustee shall not have been delivered to the Trustee so appointed and have accepted appointment within 30 60 days after the giving mailing of such notice of resignation, the resigning Trustee maytrustee may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Securityholder of the affected series who has been a bona fide Holder holder of a Security or Securities of the affected series for at least six months may, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) of the Trust Indenture Act, after written request therefor by the Company or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months,; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 6.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(3iii) the Trustee shall become incapable of acting acting, or shall be adjudged a as bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee and appoint a successor trustee by written instrument, or (ii) in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514315(e) of the Trust Indenture Act, the Holder of any Security Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If The holders of a majority in aggregate Principal Amount of the Securities of any series at the time outstanding may at any time remove the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly that series and appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered delivering to the Company and Trustee so removed, to the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance and to the Company the evidence provided for in Section 7.01 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the CompanySecurityholders. If no successor trustee shall have been so appointed by and have accepted appointment 60 days after the Company or mailing of such notice of removal, the Holders trustee being removed may petition, at the expense of the Securities and accepted appointment in the manner hereinafter providedCompany, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(fd) Any resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 6.11.
(e) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 6 contracts
Samples: Indenture (Home Depot Inc), Indenture (Dendreon Corp), Indenture (Home Depot Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article 8 shall become effective until the acceptance of appointment by the successor trustee under Section 6118.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to Company. Such resignation shall take effect upon the proposed date appointment of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the acceptance of such appointment by such successor trusteeTrustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 811 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignationresignation or of any removal of the Trustee as hereinafter provided, the resigning or removed Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee with respect to the Securities.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act TIA Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 8.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5147.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, Company shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6118.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Companytrustee. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5147.14, on behalf of himself and all others similarly situated, petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Registerregister of the Registrar. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 6 contracts
Samples: Indenture (Service Corporation International), Indenture (Service Corporation International), Indenture (Lincare Holdings Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Trustee in accordance with the applicable requirements of Section 611611 hereof.
(b) The Trustee, or any trustee or trustees hereafter appointed, Trustee may resign at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 611 hereof shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to the Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeseries.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such series, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with Section 310(b) of the provisions of Trust Indenture Act pursuant to Section 310(b) after written request therefor by the Company or by 608 hereof with respect to any Holder who has been a bona fide Holder series of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 609 hereof and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee with respect to all Securities, or (ii) subject to Section 514514 hereof, the any Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor trusteeTrustee or Trustees. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove If the instrument of acceptance by a successor Trustee required by Section 611 hereof shall not have been delivered to the Trustee and appoint within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such series.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611611 hereof. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee with respect to the Securities of any series shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611 hereof, become the successor trustee Trustee with respect to the Securities of such series and to that extent supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedrequired by Section 611 hereof, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such series.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 5 contracts
Samples: Indenture (Public Service Co of Oklahoma), Indenture (Central Power & Light Co /Tx/), Indenture (Public Service Co of Oklahoma)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice thereof of resignation to the Company no later than 20 Business Days prior to the proposed date of resignationIssuer. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee trustee and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have been delivered so appointed with respect to the Trustee any series and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maytrustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 Article Five, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 6.8 with respect to any series of Securities after written request therefor by the Company Issuer or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months,; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 6.9 and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by written instrument, or (ii) in duplicate, executed by order of the Board of Directors one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514the provisions of Article Five, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities of each series then Outstanding may at any time remove the Trustee with respect to Securities delivered of such series and appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 7.1 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the CompanySecurityholders. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities with respect to any series and have accepted appointment in within 30 days after the manner hereinafter provideddelivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or the Holder of any Security 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 Section 514the provisions of Article Five, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 6.11.
Appears in 5 contracts
Samples: Subordinated Indenture (Hovnanian Enterprises Inc), Subordinated Indenture (Hovnanian Enterprises Inc), Indenture (Hovnanian Enterprises Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor trustee under Section 611610.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 608 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such , the successor trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 5 contracts
Samples: Indenture (Sinclair Broadcast Group Inc), Indenture (Sinclair Broadcast Group Inc), Indenture (Sinclair Broadcast Group Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice thereof of resignation to the Company Issuer no later less than 20 Business Days 30 days prior to the proposed effective date of resignationsuch resignation and by delivering notice thereof by first class mail to Holders of the applicable series of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeinstrument. If an instrument of acceptance by a no successor trustee shall not have been delivered so appointed with respect to the Trustee any series and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee mayat the Issuer’s expense may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 4.12, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b) of 1939 with respect to any series of Securities after written request therefor by the Company Issuer or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months,;
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 310(a) of the Trust Indenture Act of 1939 and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by written instrument, or (ii) or, subject to Section 514315(e) of the Trust Indenture Act of 1939, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time remove the Trustee with respect to Securities delivered of such series and appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Securityholders not less than 30 days prior to the effective date of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeremoval.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 5.09 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 5.10.
Appears in 4 contracts
Samples: Subordinated Indenture (Teva Pharmaceutical Finance Co B.V.), Senior Indenture (Teva Pharmaceutical Finance Co B.V.), Subordinated Indenture (Teva Pharmaceutical Finance Co B.V.)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article 9 shall become effective until the acceptance of appointment by the successor trustee under Section 6119.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to Company. Such resignation shall take effect upon the proposed date appointment of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the acceptance of such appointment by such successor trusteeTrustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 9.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignationresignation or of any removal of the Trustee as hereinafter provided, the resigning or removed Trustee may, or any Holder who has been a bona fide Holder of a Security for may at least six months may, on behalf of himself and all others similarly situated, the Company’s expense petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee with respect to the Securities.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act TIA Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 9.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5148.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, Company shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6119.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Companytrustee. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5148.14, on behalf of himself and all others similarly situated, petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Registerregister of the Primary Registrar. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 4 contracts
Samples: Indenture (Emergent Capital, Inc.), Indenture (Emergent Capital, Inc.), Indenture (Emergent Capital, Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof of resignation to the Company no later than 20 Business Days prior and by mailing notice thereof by first-class mail to Holders of the proposed date of resignationSecurities at their last addresses as they shall appear on the Security Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have been delivered to the Trustee so appointed and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maymay petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, subject to the provisions of Section 6.12, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities for at least six months,months unless the Trustee's duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 7.9 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, Securityholder; or
(3iii) the Trustee shall become incapable of acting acting, or shall be adjudged a bankrupt or insolvent, ; or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any case, (i) the Company by a Board Resolution may remove the TrusteeTrustee and appoint a successor trustee by written instrument, or (ii) in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 5146.12, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(eiv) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities at the time Outstanding Securities delivered may at any time remove the Trustee and appoint a successor trustee by delivering to the Company and Trustee so removed, to the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance and to the Company the evidence provided for in Section 8.1 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeSecurityholders.
(fv) The Company shall give notice of each No resignation and each or removal of the Trustee and each no appointment of a successor trustee pursuant to any of the provisions of this Section 7.10 shall become effective until acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 7.11.
Appears in 4 contracts
Samples: Indenture (Idaho Power Co), Indenture (Covanta Capital Trust Iii), Indenture (Idaho Power Co)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice thereof of resignation to the Company no later than 20 Business Days prior Issuer and by mailing notice of such resignation to the proposed date Holders of resignationthen Outstanding Securities of each series affected at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have been delivered so appointed with respect to the Trustee any series and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maytrustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, on behalf of himself or herself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,[RESERVED]
(2ii) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or[RESERVED]
(3iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (iA) the Company by a Board Resolution Issuer may remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by written instrument, or in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, (iiB) subject to Section 514, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, may on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time remove the Trustee with respect to Securities delivered of such series and, with the consent of the Issuer, appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 7.01 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeSecurityholders.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 6.11.
Appears in 4 contracts
Samples: Indenture (Intercept Pharmaceuticals, Inc.), Exchange Agreement (Intercept Pharmaceuticals, Inc.), Exchange Agreement (Intercept Pharmaceuticals, Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor trustee under Section 611610 hereof.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the its Board of Directors of the CompanyDirectors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 thirty (30) days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in of the aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 608 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of Trustee, its property or its affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution of its Board of Directors, may remove the Trustee, or (ii) subject to Section 514511 hereof, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others other similarly situatedsituated Holders, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, prescribe or remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board ResolutionResolution of its Board of Directors, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in of the aggregate principal amount of the Outstanding Securities then Outstanding, delivered to PCI, the Company and the retiring Trustee. Such , the successor trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514511 hereof, on behalf of himself and all others other similarly situatedsituated Holders, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 4 contracts
Samples: Indenture (Pioneer Companies Inc), Indenture (Pioneer Companies Inc), Indenture (Pioneer Companies Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Trustee in accordance with the applicable requirements of Section 611611 hereof.
(b) The Trustee, or any trustee or trustees hereafter appointed, Trustee may resign at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of specifying the day upon which shall be delivered the resignation is to the resigning Trustee and a copy to the successor trusteetake effect. If an the instrument of acceptance by a successor trustee Trustee required by Section 611 hereof shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to the Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeseries.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such series, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with Section 310(b) of the provisions of Trust Indenture Act pursuant to Section 310(b) after written request therefor by the Company or by 608 hereof with respect to any Holder who has been a bona fide Holder series of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 609 hereof and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee with respect to all Securities, or (ii) subject to Section 514514 hereof, the any Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeor Trustees.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611611 hereof. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee with respect to the Securities of any series shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611 hereof, become the successor trustee Trustee with respect to the Securities of such series and to that extent supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedrequired by Section 611 hereof, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such series.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 4 contracts
Samples: Indenture (Energy East Corp), Indenture (New York State Electric & Gas Corp), Indenture (New York State Electric & Gas Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice thereof of resignation to the Company no later than 20 Business Days prior to the proposed date of resignationIssuer. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee trustee and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have been delivered so appointed with respect to the Trustee any series and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maytrustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 5.9, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 6.8 with respect to any series of Securities after written request therefor by the Company Issuer or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months,; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 6.9 and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by written instrument, or (ii) in duplicate, executed by order of the Board of Directors one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514the provisions of Article Five, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities of each series then Outstanding may at any time remove the Trustee with respect to Securities delivered of such series and appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 7.1 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the CompanySecurityholders. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities with respect to any series and have accepted appointment in within 30 days after the manner hereinafter provideddelivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or the Holder of any Security 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 5145.9, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 6.11.
Appears in 4 contracts
Samples: Indenture (Hovnanian Enterprises Inc), Senior Indenture (Hovnanian Enterprises Inc), Indenture (Hovnanian Enterprises Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice thereof of resignation to the Company no later than 20 Business Days prior to the proposed date of resignationIssuer. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee trustee and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have been delivered so appointed with respect to the Trustee any series and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maytrustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 5.9, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 6.8 with respect to any series of Securities after written request therefor by the Company Issuer or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months,; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 6.9 and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by written instrument, or (ii) in duplicate, executed by order of the Board of Directors one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514the provisions of Article Five, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities of each series then Outstanding may at any time remove the Trustee with respect to Securities delivered of such series and appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 7.1 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the CompanySecurityholders. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities with respect to any series and have accepted appointment in within 30 days after the manner hereinafter provideddelivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or the Holder of any Security 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 Section 514the provisions of Article Five, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 6.11.
Appears in 4 contracts
Samples: Indenture (Hovnanian Enterprises Inc), Indenture (Hovnanian Enterprises Inc), Senior Subordinated Indenture (Hovnanian Enterprises Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall shall, after all monies due and owing have been paid to the Trustee, promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyBoard, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities Notes delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Notes as their names and addresses appear in the Security Note Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 3 contracts
Samples: Indenture (RCN Corp /De/), Indenture (RCN Corp /De/), Indenture (RCN Corp /De/)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of or resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 3 contracts
Samples: Indenture (Wells Aluminum Corp), Indenture (Bell Technology Group LTD), Indenture (Packard Bioscience Co)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article 8 shall become effective until the acceptance of appointment by the successor trustee under Section 6118.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to Company. Such resignation shall take effect upon the proposed date appointment of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the acceptance of such appointment by such successor trusteeTrustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 8.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignationresignation or of any removal of the Trustee as hereinafter provided, the resigning or removed Trustee may, or any Holder who has been a bona fide Holder of a Security for may at least six months may, on behalf of himself and all others similarly situated, the Company’s expense petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee with respect to the Securities.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act TIA Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 8.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5147.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, Company shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6118.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Companytrustee. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5147.14, on behalf of himself and all others similarly situated, petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Registerregister of the Registrar. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 3 contracts
Samples: Indenture (Stewart Information Services Corp), Exhibit (Steel Dynamics Inc), Indenture (Comtech Telecommunications Corp /De/)
Resignation and Removal; Appointment of Successor Trustee. The Trustee may resign at any time by so notifying the Issuer in writing, such resignation to be effective upon the appointment of a successor Trustee. The Holders of a majority in principal amount of the outstanding Securities may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee with the Issuer's consent which consent shall not be unreasonably withheld. The Issuer may remove the Trustee if:
(a) No the Trustee fails to comply with Section 6.8 or 6.9;
(b) the Trustee is adjudged a bankrupt or an insolvent;
(c) a receiver or other public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee that is reasonably acceptable to the Holders of a majority in principal amount of the Securities. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (subject to the senior claim provided in Section 6.6 and upon being paid the compensation due to it in Section 6.6), the resignation or removal of the retiring Trustee shall become effective, and no appointment 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 Securityholder. If a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall does not have been delivered to the Trustee take office within 30 days after the giving of such notice of resignationretiring Trustee resigns or is removed, the resigning Trustee mayretiring Trustee, the Issuer or any Holder who has been a bona fide Holder the Holders of a Security for at least six months may, on behalf 25% in principal amount of himself and all others similarly situated, the outstanding Securities may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to If the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail fails to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by 6.8, any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution Securityholder may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove Notwithstanding replacement of the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any causepursuant to this Section 6.10, the Company, by a Board Resolution, Issuer's obligations under Section 6.6 shall promptly appoint a successor trustee and shall comply with continue for the applicable requirements benefit of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 3 contracts
Samples: Indenture (Trans World Gaming Corp), Indenture (Trans World Gaming Corp), Indenture (Value Partners LTD /Tx/)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Trustee in accordance with the applicable requirements of Section 611611 hereof.
(b) The Trustee, or any trustee or trustees hereafter appointed, Trustee may resign at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 611 hereof shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to the Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeseries.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such series, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with Section 310(b) of the provisions of Trust Indenture Act pursuant to Section 310(b) after written request therefor by the Company or by 608 hereof with respect to any Holder who has been a bona fide Holder series of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 609 hereof and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee with respect to all Securities, or (ii) subject to Section 514514 hereof, the any Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeor Trustees.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611611 hereof. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee with respect to the Securities of any series shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611 hereof, become the successor trustee Trustee with respect to the Securities of such series and to that extent supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedrequired by Section 611 hereof, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such series.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 3 contracts
Samples: Indenture (Central Power & Light Co /Tx/), Indenture (Public Service Co of Oklahoma), Indenture (Northeast Utilities System)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Trustee in accordance with the applicable requirements of Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, Trustee may resign at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to the Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeseries.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such series, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with section 310(b) of the provisions of Trust Indenture Act pursuant to Section 310(b) after written request therefor by the Company or by 608 with respect to any Holder who has been a bona fide Holder series of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee with respect to all Securities, or (ii) subject to Section 514, the any Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeor Trustees.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedrequired by Section 611, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such series.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 3 contracts
Samples: Indenture (Southern Investments Uk PLC), Indenture (PPL Electric Utilities Corp), Indenture (Southern Investments Uk PLC)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal The Trustee may resign and be discharged of the trust created by this Agreement by giving 30 days' written notice to the Company and such resignation shall take effect upon the earlier of 30 days after the delivery thereof to the Company or receipt by the Trustee and no appointment of an instrument of acceptance executed by a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under as hereinafter provided in Section 6118.07.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act instrument in writing signed by the holders of the Holders of not less more than a majority 50% in aggregate principal amount of the Outstanding SecuritiesTrust Certificates then outstanding, delivered to the Trustee and to the Company.
(dc) If at any time:
(1) time the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company resign or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company removed or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall otherwise become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such noticeor, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if at any time a vacancy shall occur in the office of the Trustee for any other cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with may be appointed by the applicable requirements holders of Section 611. If, within 60 days after such resignation, removal or incapability, or more than 50% of the occurrence aggregate principal amount of such vacancy, the then outstanding Trust Certificates by an instrument in writing delivered to the Company has not appointed a successor and the Trustee, . Until a successor trustee shall be appointed by the Act holders of the Holders of a majority in principal amount of the Outstanding Securities delivered to Trust Certificates as herein authorized, the Company and the retiring Trusteeby an instrument in writing executed by order of its Board of Directors shall appoint a trustee to fill such vacancy. Such A successor trustee so appointed by the Company shall forthwith upon its acceptance of such appointment become the successor trustee immediately and supersede the without further act be superseded by a successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders holders of the Securities and accepted appointment Trust Certificates in the manner hereinafter providedprovided above. Every successor trustee appointed pursuant to this Section shall be a national bank, or a bank or trust company organized and doing business under the Trustee laws of the United States of America, any State or Territory thereof or of the Holder District of any Security who has been a bona fide Holder for at least six months mayColumbia, subject and having capital and surplus of not less than $250,000,000, if there be such an institution willing, qualified and able to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for accept the appointment of a successor trusteetrust upon reasonable or customary terms.
(fd) The Company shall give notice of each resignation and each resignation, removal or incapacity of the then Trustee or of a vacancy occurring in the office of the Trustee for any other cause and of each appointment by the Company of a successor trustee pursuant to paragraph (c) of this Section by mailing written notice of such event by first-class mail, postage prepaid, to the Holders holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate all outstanding Trust Office or agent hereunderCertificates.
Appears in 3 contracts
Samples: Equipment Trust Agreement (Union Tank Car Co), Equipment Trust Agreement (Union Tank Car Co), Equipment Trust Agreement (Union Tank Car Co)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article 8 shall become effective until the acceptance of appointment by the successor trustee under Section 6118.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to Company. Such resignation shall take effect upon the proposed date appointment of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the acceptance of such appointment by such successor trusteeTrustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 811 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignationresignation or of any removal of the Trustee as hereinafter provided, the resigning or removed Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee with respect to the Securities.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act TIA Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 8.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5147.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, Company shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6118.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Companytrustee. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5147.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Registerregister of the Registrar. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 3 contracts
Samples: Indenture (Mylan Bertek Pharmaceuticals Inc.), Indenture (Regis Corp), Indenture (Mylan Laboratories Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees 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 Company and the Guarantor and by mailing notice thereof to the Company no later than 20 Business Days prior Holders in the manner and to the proposed date of resignationextent provided in Section 11.4. Upon receiving such notice of resignation, the Company or the Guarantor, as the case may be, shall promptly appoint a successor trustee or trustees with respect to the applicable Series by written instrument in duplicate, executed by authority of the Board of Directors or the Guarantor’s Board of Directors, as the Companycase may be, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have been delivered so appointed with respect to the Trustee any Series and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maytrustee may petition, at the expense of the Company and the Guarantor, any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 6.8 with respect to any Series of Securities after written request therefor by the Company Company, the Guarantor or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of such Series for at least six months,months unless the Trustee’s duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 6.9 and shall fail to resign after written request therefor by the Company Company, the Guarantor or by any Holder who has been a bona fide Holder of a Security for at least six months, Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to any Series of the Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution or the Guarantor may remove the TrusteeTrustee with respect to the applicable Series of Securities and appoint a successor trustee for such Series by written instrument, in duplicate, executed by order of the Board of Directors of the Company or (ii) the Guarantor’s Board of Directors, as the case may be, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 5145.12, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such Series for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such Series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities of each Series at the time Outstanding may at any time remove the Trustee with respect to Securities delivered of such Series and such Holders shall provide promptly to the Company and the retiring TrusteeGuarantor the evidence provided for in Section 7.1 of the action in that regard taken by the Securityholders. Such In such an event and upon receipt of such evidence, the Company or the Guarantor will appoint a successor trustee with respect to the Securities of such Series by delivering to the Trustee so removed, and to the successor trustee so appointed shall forthwith upon its acceptance of such appointment become evidence received from the successor trustee and supersede the successor trustee appointed by the CompanyHolders. If no successor trustee Trustee shall have been so appointed by with respect to such Series within 30 days after the Company or the Holders mailing of the Securities and accepted appointment in the manner hereinafter providedsuch notice of removal, the Trustee or being removed may petition, at the Holder expense of any Security who has been a bona fide Holder for at least six months maythe Company and the Guarantor, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such Series.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any Series and each any appointment of a successor trustee with respect to such Series pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 6.11.
Appears in 3 contracts
Samples: Senior Indenture (Max USA Holdings Ltd.), Subordinated Indenture (Max USA Holdings Ltd.), Indenture (Max Re Capital LTD)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving 60 days’ prior written notice thereof of resignation to the Company no later than 20 Business Days prior Issuer and by mailing notice thereof by first class mail to Holders of the applicable series of Securities at their last addresses as they shall appear on the Security register or otherwise providing notice to Holders in the manner applicable to the proposed date Securities of resignationeach such series, or the Holders of a majority in aggregate principal amount of outstanding Securities of any series may remove the Trustee as Trustee with respect to the Securities of such series by so notifying the Trustee and the Issuer in writing and may appoint a successor trustee with respect thereto with the Issuer’s consent. Upon receiving such notice of resignationresignation or removal from the Trustee, the Company Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by duly authorized written instrument executed by authority of the Board of Directors of the Companyin duplicate, a one copy of which instrument shall be delivered to the resigning Trustee or the Issuer and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have has been delivered so appointed with respect to the Trustee any series of Securities and has accepted such appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee trustee may, on behalf of and at the expense of the Issuer, with prior notice to the Issuer, appoint its own successor or the resigning trustee or the Issuer may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 4.12, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b) after written request therefor by the Company or by with respect to any Holder who has been a bona fide Holder series of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 Securities and shall fail to resign after written request therefor by the Company Issuer or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months, ;
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act and shall fail to resign after written request therefor by the Issuer or by any Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to the applicable series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by duly authorized written instrument, or (ii) in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514315(e) of the Trust Indenture Act, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, subject to the provisions of Section 4.12, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Outstanding Securities delivered of any series at the time outstanding may at any time remove the Trustee with respect to Securities of such series and appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 6.01 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeSecurityholders.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 5.10 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 5.11.
Appears in 3 contracts
Samples: Subordinated Indenture (Sumitomo Mitsui Financial Group, Inc.), Senior Indenture (Sumitomo Mitsui Financial Group, Inc.), Senior Indenture (Sumitomo Mitsui Financial Group, Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or (if an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 Business Days after the giving of such notice of resignation) any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board ResolutionResolution of its Board of Directors, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities Notes delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Notes as their names and addresses appear in the Security Note Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 3 contracts
Samples: Indenture (Saks Inc), Indenture (Saks Inc), Indenture (CPS Department Stores Inc /De)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice thereof of resignation to the Company no later than 20 Business Days prior to the proposed date of resignationIssuer. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee trustee and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have been delivered so appointed with respect to the Trustee any series and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maytrustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 Article Five, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 6.8 with respect to any series of Securities after written request therefor by the Company Issuer or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months,; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 6.9 and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by written instrument, or (ii) in duplicate, executed by order of the Board of Directors one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514the provisions of Article Five, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities of each series then Outstanding may at any time remove the Trustee with respect to Securities delivered of such series and appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 7.1 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the CompanySecurityholders. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities with respect to any series and have accepted appointment in within 30 days after the manner hereinafter provideddelivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or the Holder of any Security 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 5145.9, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 6.11.
Appears in 3 contracts
Samples: Senior Subordinated Indenture (York International Corp /De/), Subordinated Indenture (York International Corp /De/), Senior Indenture (York International Corp /De/)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 30 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 6.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6116.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Spartan Stores Inc), Indenture (Blyth Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the The Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may resign at any time resign with respect to the Securities of one or more series by giving written notice thereof of resignation to the Company no later than 20 Business Days prior and to the proposed date Holders of resignationSecurities of such series, such notice to the Holders to be given by mailing (by first-class mail), or complying with applicable electronic notice provisions of the applicable Depositary, the same within 15 days after such notice is given to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trustee. If an instrument of acceptance by a no successor trustee shall not have been delivered to the Trustee so appointed and have accepted appointment within 30 60 days after the giving of such notice of resignation, the resigning Trustee maytrustee may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of the Securities of the affected series who has been a bona fide Holder holder of a Security or Securities of the affected series for at least six months may, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to Company shall remove the Trustee and to the Company.
(d) If at any timeif:
(1i) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.10 and shall fail to resign after written request therefor by the Company or by any such Holder of Securities;
(ii) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) of the Trust Indenture Act, after written request therefor by the Company or by any Holder who has been a bona fide Holder holder of a Security or Securities for at least six months,;
(2iii) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a as bankrupt or insolvent, or ;
(iv) a receiver or liquidator of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; or
(v) the Trustee otherwise becomes incapable of acting, then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee and appoint a successor trustee by written instrument, or (ii) in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514315(e) of the Trust Indenture Act, the any Holder of any Security who has been a bona fide Holder holder of a Security or Securities for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in principal amount aggregate Principal Amount of the Outstanding Securities delivered of any series at the time outstanding may at any time remove the Trustee for that series and appoint a successor trustee by delivering to the Company and Trustee so removed, to the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance and to the Company the evidence provided for in Section 12.01 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the CompanyHolders. If no successor trustee shall have been so appointed by and have accepted appointment 60 days after the Company or giving of such notice of removal, the Holders trustee being removed may petition, at the expense of the Securities and accepted appointment in the manner hereinafter providedCompany, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(fd) Any resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this Section 7.08 shall become effective upon acceptance of appointment by the successor trustee as provided herein.
(e) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee Trustee with respect to the Securities of any series by mailing giving written notice of such event by first-class mail, postage prepaid, or by applicable electronic notice in compliance with applicable provisions of the applicable Depositary, to the all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office Office.
(f) In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or agent removal of the retiring Trustee shall become effective 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; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges and subject to its lien provided for in Section 7.07, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder.
(g) In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which:
(i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates;
(ii) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee; and
(iii) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee. Upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, 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 Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates.
(h) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section 7.08, as the case may be.
(i) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under the Trust Indenture Act.
(j) Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Southwestern Energy Co), Indenture (A.W. Realty Company, LLC)
Resignation and Removal; Appointment of Successor Trustee. (a) No The Trustee may resign at any time by so notifying the Issuer in writing, such resignation or removal of to be effective upon the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall such appointment does not have been delivered to the Trustee occur within 30 days after the giving of such notice of resignationnotice, then the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court The Holders of a majority in principal amount of the outstanding Securities may thereupon, after such notice, if any, as it remove the Trustee by so notifying the Trustee in writing and may deem proper, appoint and prescribe a successor trustee.Trustee with the Issuer's consent which consent shall not be unreasonably withheld. The Issuer may remove the Trustee if:
(a) the Trustee fails to comply with Section 6.8,
(b) the Trustee is adjudged a bankrupt or an insolvent;
(c) The a receiver or other public officer takes charge of the Trustee may be or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed at any time or if a vacancy exists in the office of Trustee for any cause or for no cause by an Act of reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company.
Issuer. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (d) If at any time:
(1) subject to the lien provided in Section 6.6), 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. A successor Trustee shall fail mail notice of its succession to each Securityholder. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Holders of at least 25% in principal amount of the outstanding Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by 6.8, any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution Securityholder may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove Notwithstanding replacement of the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any causepursuant to this Section 6.10, the Company, by a Board Resolution, Issuer's obligations under Section 6.6 shall promptly appoint a successor trustee and shall comply with continue for the applicable requirements benefit of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (American Biltrite Inc), Indenture (Congoleum Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article 8 shall become effective until the acceptance of appointment by the successor trustee under Section 6118.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to Company. Such resignation shall take effect upon the proposed date appointment of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the acceptance of such appointment by such successor trusteeTrustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 8.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignationresignation or of any removal of the Trustee as hereinafter provided, the resigning or removed Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee with respect to the Securities.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act TIA Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 8.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5147.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, Company shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6118.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Companytrustee. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5147.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Registerregister of the Registrar. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (BGC Partners, Inc.), Indenture (Regis Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Trustee in accordance with the applicable requirements of Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, Trustee may resign at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to the Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeseries.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such series, delivered to the Trustee and to the Company.
(d) If at any time:
(1i) the Trustee shall fail to comply with Section 310(b) of the provisions of Trust Indenture Act Section 310(b) with respect to any series of Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2ii) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six monthssuch Holder, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (iA) the Company by a Board Resolution may remove the TrusteeTrustee with respect to all Securities, or (iiB) subject to Section 514, the any Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeor Trustees.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedrequired by Section 611, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such series.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 2 contracts
Samples: Indenture (PPL Energy Supply LLC), Indenture (PPL Electric Utilities Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall shall, after all monies due and owing have been paid to the Trustee, promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyBoard, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security of any series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of any series, delivered to the Trustee and to the Company.
(d) If at any time:
(1i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security of such series for at least six months,, or
(2ii) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security of such series for at least six months, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security of such series who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of any series delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities of any series and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security of any series who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security RegisterTrustee. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 2 contracts
Samples: Indenture (Cccisg Capital Trust), Indenture (RCN Corp /De/)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to any Series of Securities by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationPublishing. Upon receiving such notice of resignation, the Company Publishing shall use its best efforts to promptly appoint a successor trustee Trustee by Board Resolution or written instrument executed by authority of the Board of Directors of the CompanyPublishing, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed with respect to any Series of Securities at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of that Series, delivered to the Trustee and to the CompanyPublishing.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) with respect to any Series of Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company Publishing or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.09 with respect to any Series of Securities and shall fail to resign after written request therefor by Publishing or by any such Holder, or
(3) the Trustee shall become incapable of acting with respect to any Series of Securities or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.,
Appears in 2 contracts
Samples: Senior Indenture (Hollinger International Publishing Inc), Senior Subordinated Indenture (Hollinger International Publishing Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Trustee in accordance with the applicable requirements of Section 611611 hereof.
(b) The Trustee, or any trustee or trustees hereafter appointed, Trustee may resign at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 611 hereof shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee maymay petition, or any Holder who has been a bona fide Holder at the expense of a Security for at least six months maythe Company, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to the Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeseries.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such series, delivered to the Trustee and to the Company. . If the instrument of acceptance by a successor Trustee required by Section 611 hereof shall not have been delivered to the Trustee within 60 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.
(d) If at any time:
(1) the Trustee shall fail to comply with Section 310(b) of the provisions of Trust Indenture Act pursuant to Section 310(b) after written request therefor by the Company or by 608 hereof with respect to any Holder who has been a bona fide Holder series of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 609 hereof and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee with respect to all Securities, or (ii) subject to Section 514514 hereof, the any Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeor Trustees.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611611 hereof. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee with respect to the Securities of any series shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611 hereof, become the successor trustee Trustee with respect to the Securities of such series and to that extent supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedrequired by Section 611 hereof, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such series.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 2 contracts
Samples: Indenture (Western Massachusetts Electric Co), Indenture (Western Massachusetts Electric Co)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611610.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security of the applicable series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of that series, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 608 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all series and that at any time there shall comply be only one Trustee with respect to the applicable requirements Securities of Section 611any particular series). If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee with respect to the Securities of any series shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of that series delivered to the Company and the retiring Trustee. Such , the successor trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee with respect to the Securities of that series and to that extent supersede the successor trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of that series shall have been so appointed by the Company or the Holders of the Securities of that series and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security of such series who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of that series.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities of the affected series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Subordinated Indenture (Trustreet Properties Inc), Senior Indenture (Sinclair Television Co Ii Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article ARTICLE SIX shall become effective until the acceptance of appointment by the successor trustee under Section 611610.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving 30 days written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 608 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such , the successor trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (New Century Financial Corp), Indenture (New Century Financial Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 30 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee mayTrustee, at the expense of the Company, or any Holder who has been a bona fide Holder of a Security for at least six months maymonths, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed with respect to any particular series of Securities at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such series, delivered to the Trustee and to the Company at least 30 days prior to the proposed date of termination. Upon receiving such Act of the Holders, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the removed Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the receipt of such Act of the Holders, the removed Trustee, at the expense of the Company, or any Holder who has been a bona fide Holder of a Security for at least six months, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 6.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, and notwithstanding the provisions of Section 6.10(c): (i) the Company by or pursuant to a Board Resolution may immediately remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by or pursuant to a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6116.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor TrusteeTrustee with respect to Securities of a series, a successor trustee shall be appointed by the Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedprovided herein, the Trustee Trustee, at the expense of the Company, or the Holder of any Security who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteetrustee with respect to Securities of a series.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
(g) Notwithstanding replacement of the Trustee pursuant to this Section 6.10, the Company’s and any Guarantors’ obligations under Section 6.07 hereof shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Geo MCF Lp, LLC), Indenture (Geo MCF Lp, LLC)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article 8 shall become effective until the acceptance of appointment by the successor trustee under Section 6118.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, at the expense of the Company, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act TIA Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 8.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5147.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6118.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Companytrustee. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5147.14, on behalf of himself and all others similarly situated, petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Registerregister of the Registrar. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Anixter International Inc), Indenture (Tektronix Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of or resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2ii) the Trustee shall cease to be eligible under Section 609 6.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6116.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Park Place Entertainment Corp), Indenture (Park Place Entertainment Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyBoard, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or (if an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 Business Days after the giving of such notice of resignation) any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the then Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in aggregate principal amount of the then Outstanding Securities Notes delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, or the resigning Trustee may, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Notes as their names and addresses appear in the Security Note Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 2 contracts
Samples: Indenture (Rhythms Net Connections Inc), Indenture (Rhythms Net Connections Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 6116.10.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors Trustees of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security of the applicable series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of that series, delivered to the Trustee and to the Company.
(d) If at any time:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2ii) the Trustee shall cease to be eligible under Section 609 6.8 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all series and that at any time there shall comply be only one Trustee with respect to the applicable requirements Securities of Section 611any particular series). If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee with respect to the Securities of any series shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of that series delivered to the Company and the retiring Trustee. Such , the successor trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee with respect to the Securities of that series and to that extent supersede the successor trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of that series shall have been so appointed by the Company or the Holders of the Securities of that series and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security of such series who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of that series.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities of the affected series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Capital Automotive Reit), Indenture (Capital Automotive Reit)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article 8 shall become effective until the acceptance of appointment by the successor trustee under Section 6118.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to Company. Such resignation shall take effect upon the proposed date appointment of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the acceptance of such appointment by such successor trusteeTrustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 8.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignationresignation or of any removal of the Trustee as hereinafter provided, the resigning or removed Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee with respect to the Securities at the expense of the Company.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act TIA Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 8.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5147.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, Company shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6118.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Companytrustee. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5147.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Registerregister of the Registrar. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Jakks Pacific Inc), Indenture (Jakks Pacific Inc)
Resignation and Removal; Appointment of Successor Trustee. The Trustee may resign at any time by so notifying the Issuer in writing, such resignation to be effective upon the appointment of a successor Trustee. The Holders of a majority in principal amount of the Outstanding Securities may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee with the Issuer's consent which consent shall not be unreasonably withheld. The Issuer may remove the Trustee if:
(a) No the Trustee fails to comply with Section 6.8 or 6.9;
(b) the Trustee is adjudged a bankrupt or an insolvent;
(c) a receiver or other public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee that is reasonably acceptable to the Holders of a majority in principal amount of the Securities. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (subject to the senior claim provided in Section 6.6 and upon being paid the compensation due to it in Section 6.6), the resignation or removal of the retiring Trustee shall become effective, and no appointment 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 Securityholder. If a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall does not have been delivered to the Trustee take office within 30 days after the giving of such notice of resignationretiring Trustee resigns or is removed, the resigning Trustee mayretiring Trustee, the Issuer or any Holder who has been a bona fide Holder the Holders of a Security for at least six months may, on behalf 25% in principal amount of himself and all others similarly situated, the Outstanding Securities may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to If the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail fails to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by 6.8, any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution Securityholder may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove Notwithstanding replacement of the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any causepursuant to this Section 6.10, the Company, by a Board Resolution, Issuer's obligations under Section 6.6 shall promptly appoint a successor trustee and shall comply with continue for the applicable requirements benefit of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Trans World Gaming Corp), Indenture (Value Partners LTD /Tx/)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyBoard, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or (if an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 Business Days after the giving of such notice of resignation) any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities Notes delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Notes as their names and addresses appear in the Security Note Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 2 contracts
Samples: Indenture (Wam Net Inc), Indenture (Verio Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the The Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof of resignation to the Company no later than 20 Business Days prior and to the proposed date of resignationHolders, such notice to the Holders to be given by mailing (by first class mail) the same within 30 days after such notice is given to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trustee. If an instrument of acceptance by a no successor trustee shall not have been delivered to the Trustee so appointed and have accepted appointment within 30 60 days after the giving mailing of such notice of resignation, the resigning Trustee maytrustee may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b) of 1939, after written request therefor by the Company or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months,; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 5.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(3iii) the Trustee shall become incapable of acting acting, or shall be adjudged a as bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee and appoint a successor trustee by written instrument, or (ii) in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514315(e) of the Trust Indenture Act of 1939, the Holder of any Security Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If The holders of a majority in aggregate Principal Amount of the Securities at the time outstanding may at any time remove the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly and appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered delivering to the Company and Trustee so removed, to the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance and to the Company the evidence provided for in Section 6.01 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the CompanySecurityholders. If no successor trustee shall have been so appointed by and have accepted appointment 60 days after the Company or mailing of such notice of removal, the Holders trustee being removed may petition, at the expense of the Securities and accepted appointment in the manner hereinafter providedCompany, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee and each any appointment of a successor trustee pursuant to any of the provisions of this Section 5.10 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 5.11.
Appears in 2 contracts
Samples: Indenture (Home Depot Inc), Indenture (Home Depot Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the The Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof of resignation to the Company no later than 20 Business Days prior Issuer and by mailing notice thereof by first-class mail to Holders of Securities at their last addresses as they shall appear on the proposed date of resignationSecurities Register. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trusteeTrustee. If an instrument of acceptance by a no such successor trustee shall not have been delivered to the Trustee so appointed and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maymay petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properdeemed proper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) of the Trustee Indenture Act, after written request therefor thereafter by the Company Issuer or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities for at least six months,;
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 6.8 hereof and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(3iii) the Trustee shall become incapable of acting acting, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee and appoint a successor trustee by written instrument, or (ii) subject in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered to Section 514the Trustee so removed and one copy of which shall be delivered to the successor trustee, the Holder of or, any Security Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregated principal amount of the Securities at the time Outstanding Securities delivered may at any time remove the Trustee and appoint a successor trustee by delivering to the Company and Trustee so removed, to the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 7.1 hereof of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeSecurityholders.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee and each any appointment of a successor trustee pursuant to any of the provisions of this Section 6.9 shall become effective only upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 6.10 hereof.
Appears in 2 contracts
Samples: Indenture (NRG Energy Inc), Indenture (NRG Energy Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611610.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security of the applicable series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of that series, delivered to the Trustee and to the Company.
(d) If at any time:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2ii) the Trustee shall cease to be eligible under Section 609 608 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all series and that at any time there shall comply be only one Trustee with respect to the applicable requirements Securities of Section 611any particular series). If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee with respect to the Securities of any series shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of that series delivered to the Company and the retiring Trustee. Such , the successor trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee with respect to the Securities of that series and to that extent supersede the successor trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of that series shall have been so appointed by the Company or the Holders of the Securities of that series and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security of such series who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of that series.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities of the affected series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Subordinated Indenture (Sinclair Television Co Ii Inc), Subordinated Indenture (Wsyt Licensee L P)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the The Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof of resignation to the Company no later than 20 Business Days prior Issuer and by mailing notice thereof by first-class mail to Holders of Securities at their last addresses as they shall appear on the proposed date of resignationSecurities Register. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trusteeTrustee. If an instrument of acceptance by a no such successor trustee shall not have been delivered to the Trustee so appointed and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maymay petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properdeemed proper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) of the Trustee Indenture Act, after written request therefor thereafter by the Company Issuer or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities for at least six months,;
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 5.8 hereof and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(3iii) the Trustee shall become incapable of acting acting, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee and appoint a successor trustee by written instrument, or (ii) subject in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered to Section 514the Trustee so removed and one copy of which shall be delivered to the successor trustee, the Holder of or, any Security Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregated principal amount of the Securities at the time Outstanding Securities delivered may at any time remove the Trustee and appoint a successor trustee by delivering to the Company and Trustee so removed, to the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 6.1 hereof of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeSecurityholders.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee and each any appointment of a successor trustee pursuant to any of the provisions of this Section 5.9 shall become effective only upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 5.10 hereof.
Appears in 2 contracts
Samples: Senior Debt Securities Indenture (NRG Energy Inc), Senior Debt Securities Indenture (NRG Energy Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time time, upon 30 days prior or written notice, resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of or resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyDirectors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 6.9 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6116.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities Notes delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Notes as their names and addresses appear in the Security Note Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Bally Franchise RSC Inc), Indenture (Bally Franchise RSC Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) 6.11. The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 30 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) . The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) . If at any time:
(1) : the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) , the Trustee shall cease to be eligible under Section 609 6.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) or the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) . If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6116.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) . The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Consent Agreement (Blyth Inc), Supplemental Indenture (Blyth Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six monthssuch Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board ResolutionResolution of its Board of Directors, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 2 contracts
Samples: Indenture (Blue Bird Corp), Indenture (Westpoint Stevens Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the The Indenture Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving not less than 90 days' prior written notice thereof of resignation to the Company no later than 20 Business Days prior Trust and to the proposed date Holders of resignationNotes as provided in the Indenture. Upon receiving such notice of resignation, the Company Trust shall promptly appoint cause a successor trustee to be appointed by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyTrust, a one copy of which instrument shall be delivered to the resigning Trustee trustee and a one copy to the successor indenture trustee. If an instrument of acceptance by a no successor trustee shall not have been delivered to the Trustee so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor indenture trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(eb) If at any time:
(i) the Indenture Trustee shall resign, cease to be removed eligible in accordance with the provisions of Section 6.7(a) or the requirements of Section 310(a) of the Trust Indenture Act or any applicable Supplemental Indenture and shall fail to resign pursuant to Section 6.7(b) or following written request therefor by the Trust or by any such Holder pursuant to Section 6.8(c);
(ii) the Indenture Trustee shall become incapable of actingacting with respect to the Notes, or if shall be adjudged as bankrupt or insolvent, or a vacancy receiver or liquidator of the Indenture Trustee or of its property shall occur in be appointed, or any public officer shall take charge or control of the office Indenture Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation;
(iii) the Indenture Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall fail to comply with the applicable requirements obligations imposed upon it under Section 310(b) of Section 611. If, within 60 days the Trust Indenture Act with respect to the Notes after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed written request therefor by the Act of the Holders Trust or any Holder of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder of a Note for at least six months; then, in any such case, except during the existence of an Event of Default, the Trust may remove the Indenture Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Indenture Trustee so removed and one copy to the successor trustee.
(c) In addition to the right of petition given to the resigning trustee and the right of removal given to the Trust under Sections 6.8(a) and 6.8(b), respectively, any Holder who has been a Holder of Notes for at least six months may, subject to Section 514, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee or the removal of the Indenture Trustee and the appointment of a successor trustee, as the case may be. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee or remove the Indenture Trustee and appoint a successor trustee, as the case may be.
(fd) The Company shall give notice Holder Representative may at any time remove the Indenture Trustee and appoint a successor trustee by delivering to the Indenture Trustee so removed, to the successor trustee so appointed and to the Trust the evidence provided for in Section 8.1 of each the action in that regard taken by a Holder.
(e) Any resignation and each or removal of the Indenture Trustee and each any appointment of a successor trustee pursuant to any of the provisions of this Section 6.8 shall only become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 6.9.
Appears in 2 contracts
Samples: Standard Indenture Terms (Allstate Life Global Funding), Standard Indenture Terms (Allstate Life Global Funding)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time upon 30 days’ written notice for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Sonic Automotive Inc), Indenture (Sonic Automotive Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board ResolutionResolution of its Board of Directors, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities Notes delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder for at least six months may, subject to Section 514, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Notes as their names and addresses appear in the Security Note Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 2 contracts
Samples: Indenture (Pentacon Industrial Group Inc), Indenture (Gillette Dairy of the Black Hills Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide BONA FIDE Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction at the expense of the Company for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide BONA FIDE Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide BONA FIDE Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide BONA FIDE Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 30 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trusteetrustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide BONA FIDE Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction at the expense of the Company for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Exhibit (Brooks Pharmacy, Inc.), Exhibit (Brooks Pharmacy, Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, at the expense of the Company, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Penske Automotive Group, Inc.), Indenture (United Auto Group Inc)
Resignation and Removal; Appointment of Successor Trustee. (ai) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 611.8.11. 50
(bii) The Trustee, or Trustee may resign with respect to any trustee or trustees hereafter appointed, may Series of Securities at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeSeries.
(ciii) The Trustee may be removed with respect to any Series of Securities at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such Series, delivered to the Trustee and to the Company.
(div) If at any time:
(1a) the Trustee shall fail to comply with the provisions Section 8.08 with respect to any Series of Trust Indenture Act Section 310(b) Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security of such Series for at least six months,; or
(2b) the Trustee shall cease to be eligible under Section 609 8.09 with respect to any Series of Securities and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, Securities of such Series; or
(3c) the Trustee shall become incapable of acting with respect to any Series of Securities or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i1) the Company by a Board Resolution may remove the TrusteeTrustee with respect to such Series, or (ii2) subject to Section 5147.14, the any Holder of any Security who has been a bona fide Holder of a Security of such Series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeSeries.
(ev) If the Trustee shall resign, be removed or become incapable of actingacting with respect to any Series of Securities, or if a vacancy shall occur in the office of the Trustee with respect to any Series of Securities for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those Series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such Series and that at any time there shall be only one Trustee with respect to the Securities of any particular Series) and shall comply with the applicable requirements of Section 6118.11. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee with respect to such Series of Securities shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of such Series delivered to the Company and the retiring Trustee. Such Trustee with respect to such Series, the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee with respect to such Series and to that extent supersede the successor trustee Trustee appointed by the CompanyCompany with respect to such Series. If no successor trustee Trustee with respect to such Series shall have been so appointed by the Company or the Holders of the Securities of such Series and accepted appointment in the manner hereinafter provided, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such Series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to such Series.
(fvi) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any Series and each appointment of a successor trustee Trustee with respect to the Securities of any Series by mailing written notice of such that event by first-class mail, postage prepaid, to the Holders of Registered Securities of that Series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such Series and the address of its Principal Corporate Trust Office or agent hereunderOffice.
Appears in 2 contracts
Samples: Indenture (Wal Mart Stores Inc), Indenture (Wal Mart Stores Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving 60 days’ prior written notice thereof of resignation to the Company no later than 20 Business Days prior Issuer and by mailing notice thereof by first class mail to Holders of the applicable series of Securities at their last addresses as they shall appear on the Security register or otherwise providing notice to Holders in the manner applicable to the proposed date Securities of resignationeach such series, or the Holders of a majority in Current Principal Amount of Outstanding Securities of any series may remove the Trustee as Trustee with respect to the Securities of such series by so notifying the Trustee and the Issuer in writing and may appoint a successor trustee with respect thereto with the Issuer’s consent. Upon receiving such notice of resignationresignation or removal from the Trustee, the Company Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by duly authorized written instrument executed by authority of the Board of Directors of the Companyin duplicate, a one copy of which instrument shall be delivered to the resigning Trustee or the Issuer and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have has been delivered so appointed with respect to the Trustee any series of Securities and has accepted such appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee trustee may, on behalf of and at the expense of the Issuer, with prior notice to the Issuer, appoint its own successor or the resigning trustee or the Issuer may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 4.12, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b) after written request therefor by the Company or by with respect to any Holder who has been a bona fide Holder series of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 Securities and shall fail to resign after written request therefor by the Company Issuer or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months, ;
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act and shall fail to resign after written request therefor by the Issuer or by any Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to the applicable series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by duly authorized written instrument, or (ii) in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514315(e) of the Trust Indenture Act, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, subject to the provisions of Section 4.12, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in principal amount Current Principal Amount of the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to Securities delivered of such series and appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 6.01 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeSecurityholders.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 5.10 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 5.11.
Appears in 2 contracts
Samples: Perpetual Subordinated Indenture (Sumitomo Mitsui Financial Group, Inc.), Perpetual Subordinated Indenture (Sumitomo Mitsui Financial Group, Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving 60 days written notice thereof of resignation to the Company no later than 20 Business Days prior and by mailing notice thereof by first class mail to Holders of the applicable series of Securities at their last addresses as they shall appear on the Register or otherwise providing notice to Holders in the manner applicable to the proposed date Securities of resignationeach series. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees with respect to the applicable series by duly authorized written instrument executed by authority of the Board of Directors of the Companyin duplicate, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have been delivered so appointed with respect to the Trustee any series and have accepted appointment within 30 days after the giving mailing of such notice of resignationresignation or removal, as the case may be, the resigning Trustee trustee may, on behalf of and at the expense of the Company, appoint its own successor, or the resigning trustee (at the expense of the Company) or the Company may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 4.12, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b) of 1939 with respect to any series of Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security or Securities of such series for at least six months,; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 310(a) of the Trust Indenture Act and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution may shall remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by duly authorized written instrument, or (ii) in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514315(e) of the Trust Indenture Act of 1939, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time remove the Trustee with respect to Securities delivered of such series and appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Company the evidence provided for in Section 6.01 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeSecurityholders.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 5.09 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 5.10.
Appears in 2 contracts
Samples: Fixed Term Subordinated Indenture (Mitsubishi Ufj Financial Group Inc), Perpetual Subordinated Indenture (Mitsubishi Ufj Financial Group Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.10.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationIssuer. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyIssuer, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security Senior Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the then Outstanding SecuritiesSenior Notes, delivered to the Trustee and to the CompanyIssuer.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 6.7 after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security Senior Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.8 hereof and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six monthssuch Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or
(4) the CCC determines that the Trustee is required to be licensed or found qualified or suitable and the Trustee does not become so licensed or found qualified or suitable within such period as may be prescribed by the CCC, then, in any such case, (i) the Company Issuer by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14 hereof, the Holder of any Security Senior Note who has been a bona fide Holder of a Security Senior Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the CompanyIssuer, by a Board Resolution, shall promptly promptly, upon approval of the CCC, appoint a successor trustee and Trustee which Trustee shall comply with be licensed or found qualified or suitable under the applicable requirements of Section 611New Jersey Casino Control Act. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities Senior Notes delivered to the Company Issuer, upon approval by the CCC and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the CompanyIssuer. If no successor trustee Trustee shall have been so appointed by the Company Issuer or the Holders of the Securities Senior Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Senior Note who has been a bona fide Holder for at least six months may, subject to Section 5145.14 hereof, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company Issuer shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Senior Notes as their names and addresses appear in the Security Senior Note Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 2 contracts
Samples: Indenture (Trumps Castle Associates Lp), Indenture (Trumps Castle Associates Lp)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611610.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 608 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such , the successor trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Sinclair Broadcast Group Inc), Indenture (Sinclair Broadcast Group Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 30 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedprovided herein, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Republic Services Inc), Indenture (Republic Services Inc)
Resignation and Removal; Appointment of Successor Trustee. (ai) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6118.11.
(bii) The Trustee, or Trustee may resign with respect to any trustee or trustees hereafter appointed, may Series of Securities at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeApplicable Issuer. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeSeries.
(ciii) The Trustee may be removed with respect to any Series of Securities at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such Series, delivered to the Trustee and to the CompanyApplicable Issuer.
(div) If at any time:
(1a) the Trustee shall fail to comply with the provisions Section 8.08 with respect to any Series of Trust Indenture Act Section 310(b) Securities after written request therefor by the Company Applicable Issuer or by any Holder who has been a bona fide Holder of a Security of such Series for at least six months,; or
(2b) the Trustee shall cease to be eligible under Section 609 8.09 with respect to any Series of Securities and shall fail to resign after written request therefor by the Company Applicable Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, Securities of such Series; or
(3c) the Trustee shall become incapable of acting with respect to any Series of Securities or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i1) the Company Applicable Issuer by a Board Resolution may remove the TrusteeTrustee with respect to such Series, or (ii2) subject to Section 5147.14, the any Holder of any Security who has been a bona fide Holder of a Security of such Series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeSeries.
(ev) If the Trustee shall resign, be removed or become incapable of actingacting with respect to any Series of Securities, or if a vacancy shall occur in the office of Trustee with respect to any Series of Securities for any cause, the CompanyApplicable Issuer, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those Series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such Series and that at any time there shall be only one Trustee with respect to the Securities of any particular Series) and shall comply with the applicable requirements of Section 6118.11. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee with respect to such Series of Securities shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of such Series delivered to the Company Applicable Issuer and the retiring Trustee. Such Trustee with respect to such Series, the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee with respect to such Series and to that extent supersede the successor trustee Trustee appointed by the CompanyApplicable Issuer with respect to such Series. If no successor trustee Trustee with respect to such Series shall have been so appointed by the Company Applicable Issuer or the Holders of the Securities of such Series and accepted appointment in the manner hereinafter provided, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such Series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to such Series.
(fvi) The Company Applicable Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any Series and each appointment of a successor trustee Trustee with respect to the Securities of any Series by mailing written notice of such that event by first-class mail, postage prepaid, to the Holders of Registered Securities of that Series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such Series and the address of its Principal Corporate Trust Office or agent hereunderOffice.
Appears in 2 contracts
Samples: Indenture (Wal Mart Cayman Sterling Finance Co), Indenture (Wal Mart Cayman Sterling Finance Co)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyDirectors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 2 contracts
Samples: Indenture (Loehmanns Holdings Inc), Indenture (Loehmanns Holdings Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyDirectors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount Accreted Value of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount Accreted Value of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Samples: Indenture (Loehmanns Holdings Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 611511.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall use its best efforts to promptly appoint a successor trustee Trustee by Board Resolution or written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 509 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six monthssuch Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514414, the any Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.Trustee. 62
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board ResolutionResolution or written instrument executed by authority of the Board of Directors of the Company, shall use its best efforts to promptly appoint a successor trustee Trustee and shall comply with the applicable requirements of Section 611511. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company or a court of competent jurisdiction has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such , and the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the any Holder of any a Security who has been a bona fide Holder for at least six months may, subject to Section 514414, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Samples: Indenture (Playtex Products Inc)
Resignation and Removal; Appointment of Successor Trustee. (ai) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6118.11.
(bii) The Trustee, or Trustee may resign with respect to any trustee or trustees hereafter appointed, may Series of Securities at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeSeries.
(ciii) The Trustee may be removed with respect to any Series of Securities at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such Series, delivered to the Trustee and to the Company.
(div) If at any time:
(1a) the Trustee shall fail to comply with the provisions Section 8.08 with respect to any Series of Trust Indenture Act Section 310(b) Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security of such Series for at least six months,; or
(2b) the Trustee shall cease to be eligible under Section 609 8.09 with respect to any Series of Securities and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, Securities of such Series; or
(3c) the Trustee shall become incapable of acting with respect to any Series of Securities or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i1) the Company by a Board Resolution may remove the TrusteeTrustee with respect to such Series, or (ii2) subject to Section 5147.14, the any Holder of any Security who has been a bona fide Holder of a Security of such Series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeSeries.
(ev) If the Trustee shall resign, be removed or become incapable of actingacting with respect to any Series of Securities, or if a vacancy shall occur in the office of the Trustee with respect to any Series of Securities for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those Series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such Series and that at any time there shall be only one Trustee with respect to the Securities of any particular Series) and shall comply with the applicable requirements of Section 6118.11. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee with respect to such Series of Securities shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of such Series delivered to the Company and the retiring Trustee. Such Trustee with respect to such Series, the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee with respect to such Series and to that extent supersede the successor trustee Trustee appointed by the CompanyCompany with respect to such Series. If no successor trustee Trustee with respect to such Series shall have been so appointed by the Company or the Holders of the Securities of such Series and accepted appointment in the manner hereinafter provided, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such Series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to such Series.
(fvi) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any Series and each appointment of a successor trustee Trustee with respect to the Securities of any Series by mailing written notice of such that event by first-class mail, postage prepaid, to the Holders of Registered Securities of that Series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such Series and the address of its Principal Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Samples: Indenture (Wal Mart Stores Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to any Series of Securities by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationPublishing. Upon receiving such notice of resignation, the Company Publishing shall use its best efforts to promptly appoint a successor trustee Trustee by Board Resolution or written instrument executed by authority of the Board of Directors of the Company86 Publishing, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed with respect to any Series of Securities at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of that Series, delivered to the Trustee and to the CompanyPublishing.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) with respect to any Series of Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company Publishing or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.09 with respect to any Series of Securities and shall fail to resign after written request therefor by Publishing or by any such Holder, or
(3) the Trustee shall become incapable of acting with respect to any Series of Securities or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company Publishing by a Board Resolution may remove the Trustee, with respect to any Series of Securities or in the case of bankruptcy or insolvency or receivership pursuant to clause (3) above, with respect to all Series, or (ii) subject to Section 5145.14, the any Holder of any Security who has been a bona fide Holder of a Security of such Series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee with respect to the Series, or in the case of bankruptcy or insolvency or receivership pursuant to clause (3) above, with respect to all Series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.Trustee. 87
(e) If the Trustee shall resign, be removed or become incapable of actingacting with respect to any Series of Securities, or if a vacancy shall occur in the office of Trustee with respect to any Series for any cause, the CompanyPublishing, by a Board ResolutionResolution or written instrument executed by authority of the Board of Directors of Publishing, shall use its best efforts to promptly appoint a successor trustee Trustee for that Series of Securities and shall comply with the applicable requirements of Section 6116.11. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company Publishing or a court of competent jurisdiction has not appointed a successor Trustee, a successor trustee Trustee with respect to such Series of Securities shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of such Series delivered to the Company Publishing and the retiring Trustee. Such , and the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee with respect to such Series of Securities and supersede the successor trustee Trustee appointed by the CompanyPublishing with respect to such Series of Securities. If no successor trustee Trustee shall have been so appointed by the Company Publishing or the Holders of the such Series of Securities and accepted appointment in the manner hereinafter provided, the Trustee or the any Holder of any a Security who has been a bona fide Holder of a Security of that Series for at least six months may, subject to Section 5145.14, on behalf of himself and all others other similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to such Series.
(f) The Company Publishing shall give notice of each resignation and each removal of the Trustee with respect to any Series and each appointment of a successor trustee Trustee with respect to any Series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities of that Series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationIssuer. Upon receiving such notice of or resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyDirectors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) Issuer. If at any time:
(1) an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee shall fail to comply with within 30 days after the provisions giving of Trust Indenture Act Section 310(b) after written request therefor by such notice of resignation, the Company resigning Trustee may, or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.on
Appears in 1 contract
Samples: Indenture (Millennium Chemicals Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the The Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to the Securities by giving written notice thereof of resignation to the Company no later than 20 Business Days prior and to the proposed date Holders of resignationthe Securities, such notice to the Holders to be given by mailing (by first class mail) the same within 30 days after such notice is given to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors of the CompanyDirectors, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trustee. If an instrument of acceptance by a no successor trustee shall not have been delivered to the Trustee so appointed and have accepted appointment within 30 60 days after the giving mailing of such notice of resignation, the resigning Trustee maytrustee may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) of the Trust Indenture Act, after written request therefor by the Company or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months,; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 6.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(3iii) the Trustee shall become incapable of acting acting, or shall be adjudged a as bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee and appoint a successor trustee by written instrument, or (ii) in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514315(e) of the Trust Indenture Act, the Holder of any Security Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in principal amount aggregate Principal Amount of the Outstanding Securities delivered at the time outstanding may at any time remove the Trustee and appoint a successor trustee by delivering to the Company and Trustee so removed, to the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance and to the Company the evidence provided for in Section 7.01 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the CompanySecurityholders. If no successor trustee shall have been so appointed by and have accepted appointment 60 days after the Company or mailing of such notice of removal, the Holders trustee being removed may petition, at the expense of the Securities and accepted appointment in the manner hereinafter providedCompany, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(fd) Any resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 6.11.
(e) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities and each appointment of a successor trustee Trustee with respect to the Securities by mailing written notice of such event by first-class mail, postage prepaid, to the all Holders of the Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of or resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1i) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b3.09(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2ii) the Trustee shall cease to be eligible under Section 609 6.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6116.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.retiring
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security Note for at least six consecutive months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six consecutive months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six consecutive months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six consecutive months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board ResolutionResolution of its Board of Directors, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities Notes delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder for at least six consecutive months may, subject to Section 514, on 5.14,on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Notes as their names and addresses appear in the Security Note Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Samples: Indenture (Best Built Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board ResolutionResolution of its Board of Directors, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Samples: Indenture (Optel Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Trustee in accordance with the applicable requirements of Section 611611 hereof.
(b) The Trustee, or any trustee or trustees hereafter appointed, Trustee may resign at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 611 hereof shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to the Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeseries.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such series, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with Section 310(b) of the provisions of Trust Indenture Act pursuant to Section 310(b) after written request therefor by the Company or by 608 hereof with respect to any Holder who has been a bona fide Holder series of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 609 hereof and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee with respect to all Securities, or (ii) subject to Section 514514 hereof, the any Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeor Trustees.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611611 hereof. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee with respect to the Securities of any series shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611 hereof, become the successor trustee Trustee with respect to the Securities of such series and to that extent supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedrequired by Section 611 hereof, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such series.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall shall, after all monies due and owing have been paid to the Trustee, promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyBoard, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.similarly
Appears in 1 contract
Samples: Indenture (RCN Corp /De/)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Trustee in accordance with the applicable requirements of Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, Trustee may resign at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction at the expense of the Company for the appointment of a successor trustee. Such court may thereuponTrustee with respect to the Securities of such series, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteesubject to Section 6.09.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days of such removal, the Trustee subject to such removal may petition any court of competent jurisdiction at the expense of the Company for the appointment of a successor Trustee with respect to the Securities of such series, subject to Section 6.09.
(d) If at any time:
(1) the Trustee shall fail to comply with section 310(b) of the provisions of Trust Indenture Act pursuant to Section 310(b) after written request therefor by 6.08, with respect to any series of Securities to which the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to Trust Indenture Act may be eligible under Section 609 and shall fail to resign applicable, after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee with respect to all the Securities, or (ii) subject to Section 5145.12, the any Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeor Trustees.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of either series) and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company6.11. If no successor trustee Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedrequired by Section 6.11, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such series.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, Trustee with respect to the Holders Securities of Securities as their names and addresses appear any series by giving notice in the Security Registermanner provided in Section 1.06. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Samples: Indenture (Cilcorp Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Trustee in accordance with the applicable requirements of Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, Trustee may resign at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an the instrument of acceptance by a successor trustee Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to the Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeseries.
(c) The Trustee may be removed at any time for with respect to the Securities of any cause or for no cause series by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such series, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with section 310(b) of the provisions of Trust Indenture Act pursuant to Section 310(b) 608 with respect to any series of Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six monthssuch Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove the TrusteeTrustee with respect to all Securities, or (ii) subject to Section section 514, the any Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeor Trustees.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter providedrequired by Section 611, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situatedsituations, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to the Securities of such series.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor trustee Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such series and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal The Trustee may resign and be discharged of the trust created by this Agreement by giving 30 days' written notice to the Company and such resignation shall take effect upon the earlier of 30 days after the delivery thereof to the Company or upon receipt by the Trustee and no appointment of an instrument of acceptance executed by a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under as hereinafter provided in Section 6118.07.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act instrument in writing signed by the holders of the Holders of not less more than a majority 50% in aggregate principal amount of the Outstanding SecuritiesTrust Certificates then outstanding, delivered to the Trustee and to the Company.
(dc) If at any time:
(1) time the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company resign or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company removed or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall otherwise become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such noticeor, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if at any time a vacancy shall occur in the office of the Trustee for any other cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with may be appointed by the applicable requirements holders of Section 611. If, within 60 days after such resignation, removal or incapability, or more than 50% of the occurrence aggregate principal amount of such vacancy, the then outstanding Trust Certificates by an instrument in writing delivered to the Company has not appointed a successor and the Trustee, . Until a successor trustee shall be appointed by the Act holders of the Holders of a majority in principal amount of the Outstanding Securities delivered to Trust Certificates as herein authorized, the Company and the retiring Trusteeby an instrument in writing executed by order of its Board of Directors shall appoint a trustee to fill such vacancy. Such A successor trustee so appointed by the Company shall forthwith upon its acceptance of such appointment become the successor trustee immediately and supersede the without further act be superseded by a successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders holders of the Securities and accepted appointment Trust Certificates in the manner hereinafter providedprovided above. Every successor trustee appointed pursuant to this Section shall be a national bank, or a bank or trust company organized and doing business under the Trustee laws of the United States of America, any State or territory thereof or of the Holder District of any Security who has been a bona fide Holder for at least six months mayColumbia, subject and having capital and surplus of not less than $250,000,000, if there be such an institution willing, qualified and able to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for accept the appointment of a successor trusteetrust upon reasonable or customary terms.
(fd) The Company shall give notice of each resignation and each resignation, removal or incapacity of the then Trustee or of a vacancy occurring in the office of the Trustee for any other cause and of each appointment by the Company of a successor trustee pursuant to paragraph (c) of this Section by mailing written notice of such event by first-class mail, postage prepaid, to the Holders holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate all outstanding Trust Office or agent hereunderCertificates.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.,
Appears in 1 contract
Samples: Indenture (Zale Delaware Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Trustee in accordance with the applicable requirements of Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of or resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignationresignations, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount at Maturity of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the The Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at a least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.successor
Appears in 1 contract
Samples: Indenture (Bell Atlantic Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving 60 days written notice thereof of resignation to the Company no later than 20 Business Days prior and by mailing notice thereof by first class mail to Holders of the applicable series of Securities at their last addresses as they shall appear on the Register or otherwise providing notice to Holders in the manner applicable to the proposed date Securities of resignationeach series. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees with respect to the applicable series by duly authorized written instrument executed by authority of the Board of Directors of the Companyin duplicate, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trusteetrustee or trustees. If an instrument of acceptance by a no successor trustee shall not have been delivered so appointed with respect to the Trustee any series and have accepted appointment within 30 days after the giving mailing of such notice of resignationresignation or removal, as the case may be, the resigning Trustee trustee may, on behalf of and at the expense of the Company, appoint its own successor, or the resigning trustee (at the expense of the Company) or the Company may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 4.12, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem properproper and prescribe, appoint and prescribe a successor trustee.
(cb) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b) with respect to any series of Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security or Securities of such series for at least six months,; or
(2ii) the Trustee shall cease to be eligible under in accordance with the provisions of Section 609 310(a) of the Trust Indenture Act and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, Securityholder; or
(3iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution may shall remove the TrusteeTrustee with respect to the applicable series of Securities and appoint a successor trustee for such series by duly authorized written instrument, or (ii) in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 514315(e) of the Trust Indenture Act, the Holder of any Security Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteetrustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ec) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time remove the Trustee with respect to Securities delivered of such series and appoint a successor trustee with respect to the Company and Securities of such series by delivering to the retiring Trustee. Such Trustee so removed, to the successor trustee so appointed shall forthwith upon its acceptance and to the Company the evidence provided for in Section 6.01 of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeSecurityholders.
(fd) The Company shall give notice of each Any resignation and each or removal of the Trustee with respect to any series and each any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 5.09 shall become effective upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 5.10.
Appears in 1 contract
Samples: Perpetual Subordinated Indenture (Mitsubishi Ufj Financial Group Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written 107 instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the Trustee's receipt of such notice of removal, the departing Trustee may, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities.
(d) If at any time:
(1i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3ii) the Trustee shall cease to be eligible under Section 6.09 hereof and shall fail to resign after written request therefor by the Company or by any such Holder, or
(iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (ix) the Company by a Board Resolution of its Board may remove the Trustee, or (iiy) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board ResolutionResolution of its Board, shall promptly appoint a successor trustee and shall comply Trustee in 108 accordance with the applicable requirements of Section 6116.11. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611610.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationIssuer. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyIssuer, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the CompanyIssuer.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) 607 after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 608 and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company Issuer by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the CompanyIssuer, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company Issuer and the retiring Trustee. Such , the successor trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee and supersede the successor trustee appointed by the CompanyIssuer. If no successor trustee shall have been so appointed by the Company Issuer or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company Issuer shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. A Trustee or any successor may resign at any time by giving at least sixty (a60) No days’ prior written notice to the Investors. The Investors holding a majority of the Interests may at any time remove a Trustee for cause by written notice to such Trustee. Cause shall only mean the fraud, willful misconduct or gross negligence of the Trustee with respect to the Trust, and only as determined upon final order by a court of competent jurisdiction. Notwithstanding anything herein to the contrary, no resignation or removal of the a Trustee and no appointment of shall be effective until a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the has been appointed and such successor trustee under Section 611.
(b) The has accepted its responsibilities, all as hereinafter provided. In case of the resignation, death, liquidation or removal of a Trustee, or any trustee or trustees hereafter appointed, Investors holding a majority of the Interests may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which instrument. The Trust shall not be delivered terminated solely due to the resigning Trustee and a copy to the successor trusteedeath, liquidation, resignation or removal of any Trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee appointed within 30 sixty (60) days after the giving of such notice of resignationnotice, a Trustee or the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition Investors may apply to any court of competent jurisdiction for in the appointment of United States to appoint a successor trustee. Such court may thereupon, after trustee to act until such noticetime, if any, as it may deem propera successor shall have been appointed as provided above. Any successor so appointed by such court shall immediately and without further act be superseded by any successor appointed as provided above within one year from the date of the appointment by such court. Any successor, appoint however appointed, shall execute and prescribe deliver to its predecessor trustee (the Delaware Trustee, Signatory Trustee or a successor trustee.
(c, as the case may be) The Trustee may be removed at any time for any cause or for no cause by an Act instrument accepting such appointment, and thereupon such successor, without further act, shall become vested with all the estates, properties, rights, powers, duties and trusts of the Holders predecessor trustee in the trusts hereunder with like effect as if originally named a Delaware Trustee or Signatory Trustee herein; but upon the written request of not less than a majority in aggregate principal amount such successor, such predecessor shall execute and deliver an instrument transferring to such successor, upon the trusts herein expressed, all the estates, properties, rights, powers, duties and trusts of such predecessor, and such predecessor shall duly assign, transfer, deliver and pay over to such successor all monies or other property then held by such predecessor upon the trusts herein expressed. Any right of the Outstanding Securities, delivered to Investors against the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, thenpredecessor trustee, in any caseits, (i) the Company his or her individual capacity, shall not be prejudiced by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with survive the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act termination of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteetrusts created hereby.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Samples: Trust Agreement (GK Investment Property Holdings II LLC)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the Trustee’s receipt of such notice of removal, the departing Trustee may, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities.
(d) If at any time:
(1i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3ii) the Trustee shall cease to be eligible under Section 6.09 hereof and shall fail to resign after written request therefor by the Company or by any such Holder, or
(iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (ix) the Company by a Board Resolution of its Board may remove the Trustee, or (iiy) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board ResolutionResolution of its Board, shall promptly appoint a successor trustee and shall comply Trustee in accordance with the applicable requirements of Section 6116.11. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b1) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign by giving written notice thereof of resignation to the Company no later than 20 Business Days prior Issuer and by mailing notice thereof by first-class mail to Holders of Securities at their last addresses as they shall appear on the proposed date of resignationSecurities Register. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors or any committee of the Companysuch Board duly authorized to act on behalf of such Board, a one copy of which instrument shall be delivered to the resigning Trustee and a one copy to the successor trusteeTrustee. If an instrument of acceptance by a no such successor trustee shall not have been delivered to the Trustee so appointed and have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee maymay petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, prescribe or appoint and prescribe a successor trustee.
(c2) The Trustee may be removed In case at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any timefollowing shall occur:
(1) the Trustee shall fail cease to comply be eligible in accordance with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 6.8 hereof and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, such Securityholder; or
(32) the Trustee shall become incapable of acting acting, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i) the Company by a Board Resolution Issuer may remove the TrusteeTrustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors or (ii) subject any committee of such Board duly authorized to Section 514act on behalf of such Board, one copy of which instrument shall be delivered to the Holder Trustee so removed and one copy of which shall be delivered to the successor trustee, or, any Security Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, may on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e3) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the The Holders of a majority in aggregate principal amount of the Securities at the time Outstanding Securities delivered may at any time remove the Trustee and appoint a successor trustee by delivering to the Company and Trustee so removed, to the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance and to the Issuer the evidence provided for in Section 7.1 hereof of such appointment become the successor trustee and supersede the successor trustee appointed action in that regard taken by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeSecurityholders.
(f4) The Company shall give notice of each Any resignation and each or removal of the Trustee and each any appointment of a successor trustee pursuant to any of the provisions of this Section 6.9 shall become effective only upon acceptance of appointment by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunderas provided in Section 6.10 hereof.
Appears in 1 contract
Samples: Indenture (NRG Energy Inc)
Resignation and Removal; Appointment of Successor Trustee. (ai) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6118.11.
(bii) The Trustee, or Trustee may resign with respect to any trustee or trustees hereafter appointed, may Series of Securities at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to Securities of such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeSeries.
(ciii) The Trustee may be removed with respect to any Series of Securities at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesSecurities of such Series, delivered to the Trustee and to the Company.
(div) If at any time:
(1a) the Trustee shall fail to comply with the provisions Section 8.08 with respect to any Series of Trust Indenture Act Section 310(b) Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security of such Series for at least six months,; or
(2b) the Trustee shall cease to be eligible under Section 609 8.09 with respect to any Series of Securities and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, Securities of such Series; or
(3c) the Trustee shall become incapable of acting with respect to any Series of Securities or shall be adjudged a bankrupt or insolvent, insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (i1) the Company by a Board Resolution may remove the TrusteeTrustee with respect to such Series, or (ii2) subject to Section 5147.14, the any Holder of any Security who has been a bona fide Holder of a Security of such Series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after Trustee with respect to such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeSeries.
(ev) If the Trustee shall resign, be removed or become incapable of actingacting with respect to any Series of Securities, or if a vacancy shall occur in the office of the Trustee with respect to any Series of Securities for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee Trustee or Trustees with respect to the Securities of that or those Series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such Series and that at any time there shall be only one Trustee with respect to the Securities of any particular Series) and shall comply with the applicable requirements of Section 6118.11. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee with respect to such Series of Securities shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities of such Series delivered to the Company and the retiring Trustee. Such Trustee with respect to such Series, the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee with respect to such Series and to that extent supersede the successor trustee Trustee appointed by the CompanyCompany with respect to such Series. If no successor trustee Trustee with respect to such Series shall have been so appointed by the Company or the Holders of the Securities of such Series and accepted appointment in the manner hereinafter provided, the Trustee or the any Holder of any Security who has been a bona fide Holder of a Security of such Series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee with respect to such Series.
(fvi) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any Series and each appointment of a successor trustee Trustee with respect to the Securities of any Series by mailing written notice of such that event by first-class mail, postage prepaid, to the Holders of Registered Securities of that Series as their names and addresses appear in the Security RegisterRegistry. Each notice shall include the name of the successor trustee Trustee with respect to the Securities of such Series and the address of its Principal Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Samples: Indenture (Wal Mart Stores Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyBoard, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or (if an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 Business Days after the giving of such notice of resignation) any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount at maturity of the then Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, then in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in aggregate principal amount at maturity of the then Outstanding Securities Notes delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, or the resigning Trustee may, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Notes as their names and addresses appear in the Security Note Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611610.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of 72 acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 608 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount Principal Amount at Issuance of the Outstanding Securities delivered to the Company and the retiring Trustee. Such , the successor trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Samples: Indenture (Jakks Pacific Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationIssuer. Upon receiving such notice of or resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyDirectors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the CompanyIssuer. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company Issuer by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the CompanyIssuer, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company Issuer has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company Issuer and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the CompanyIssuer. If no successor trustee shall have been so appointed by the Company Issuer or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company Issuer shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Samples: Indenture (Us Industries Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 at least 30 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall shall, after all monies due and owing have been paid to the Trustee, promptly appoint a successor trustee Trustee by written instrument executed by authority of the Board of Directors of the CompanyBoard, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 60 Business Days after the giving of such notice of resignation, the resigning Trustee trustee may, or any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities Notes delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Notes as their names and addresses appear in the Security Note Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Samples: Indenture (Alestra)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months 84 may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six monthssuch Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board ResolutionResolution of its Board of Directors, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Samples: Indenture (Golden Sky Systems Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company Issuers no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyIssuers, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the CompanyIssuers.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company Issuers or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company Issuers or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company Issuers by a Board Resolution may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the CompanyIssuers, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company Issuers has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company Issuers and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the CompanyIssuers. If no successor trustee shall have been so appointed by the Company Issuers or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company Issuers shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article 8 shall become effective until the acceptance of appointment by the successor trustee under Section 6118.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, at the expense of the Company, or any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trustee.. Houston 3170417v.7
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act TIA Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease to be eligible under Section 609 8.09 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5147.14, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 6118.11. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 5147.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Registerregister of the Registrar. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. The Trustee may resign at any time by so notifying the Issuer in writing, such resignation to be effective upon the appointment of a successor Trustee. The Holders of a majority in principal amount of the Securities then outstanding may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee with the Issuer's consent which consent shall not be unreasonably withheld. The Issuer may remove the Trustee if:
(a) No the Trustee fails to comply with Section 6.8;
(b) the Trustee is adjudged a bankrupt or an insolvent;
(c) a receiver or other public officer takes charge of the Trustee or its property; or
(d) the Trustee becomes incapable of acting. If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee that is reasonably acceptable to the Holders of a majority in principal amount of the Securities. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee (subject to the senior claim provided in Section 6.6 and upon being paid the compensation due to it in Section 6.6), the resignation or removal of the retiring Trustee shall become effective, and no appointment 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 Securityholder. If a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee under Section 611.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If an instrument of acceptance by a successor trustee shall does not have been delivered to the Trustee take office within 30 days after the giving of such notice of resignationretiring Trustee resigns or is removed, the resigning Trustee mayretiring Trustee, the Issuer or any Holder who has been a bona fide Holder the Holders of a Security for at least six months may, on behalf 25% in principal amount of himself and all others similarly situated, the Securities then outstanding may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such noticeIf the Trustee fails to qualify under the TIA, if any, as it may deem proper, appoint this Indenture and prescribe a successor trustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months,
(2) the Trustee shall cease are required to be eligible under Section 609 and shall fail to resign after written request therefor by the Company or by so qualified, any Holder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution Securityholder may remove the Trustee, or (ii) subject to Section 514, the Holder of any Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove Notwithstanding replacement of the Trustee and appoint a successor trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any causepursuant to this Section 6.9, the Company, by a Board Resolution, Issuer's obligations under Section 6.6 shall promptly appoint a successor trustee and shall comply with continue for the applicable requirements benefit of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign by giving written notice thereof to the Company no later than at least 20 Business Days prior to the proposed date of such proposed resignation. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the CompanyBoard, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days 20 Business Days after the giving of such notice of resignation, the resigning Trustee may, or (if an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 Business Days after the giving of such notice of resignation) any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with Section 310(b) 6.08 hereof after written request 69 -62- therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 hereof and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of or rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to Section 5145.14, the Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611Trustee. If, within 60 days one year after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee Trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities Notes delivered to the Company and the retiring Trustee. Such , the successor trustee Trustee so appointed shall shall, forthwith upon its acceptance of such appointment appointment, become the successor trustee Trustee and supersede the successor trustee Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed by the Company or the Holders of the Securities Notes and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security Note who has been a bona fide Holder for at least six months may, subject to Section 5145.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities Notes as their names and addresses appear in the Security Note Register. Each notice shall include the name of the successor trustee Trustee and the address of its Corporate Trust Office or agent hereunderOffice.
Appears in 1 contract
Samples: Indenture (Verio Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee Trustee under Section 6116.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to any Notes by giving written notice thereof to the Company no later than 20 Business Days prior to the proposed date of resignationCompany. Upon receiving such notice of resignation, the Company shall use its best efforts to promptly appoint a successor trustee Trustee by Board Resolution or written instrument executed by authority of the Board of Directors of the CompanyDirectors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trusteeTrustee. If an instrument of acceptance by a successor trustee Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, or any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper, appoint and prescribe a successor trusteeTrustee.
(c) The Trustee may be removed with respect to any Notes at any time for any cause or for no cause by an Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding SecuritiesNotes, delivered to the Trustee and to the Company.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) with respect to any Notes after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months,, or
(2) the Trustee shall cease to be eligible under Section 609 6.09 with respect to any Notes and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six monthssuch Holder, or
(3) the Trustee shall become incapable of acting with respect to any Notes or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any case, (i) the Company by a Board Resolution may remove the Trustee, with respect to any Notes or in the case of bankruptcy or insolvency or receivership pursuant to clause (3) above, with respect to all Notes, or (ii) subject to Section 5145.14, the any Holder of any Security Note who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee with respect to the Notes, or in the case of bankruptcy or insolvency or receivership pursuant to clause (3) above, with respect to all Notes. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, remove the Trustee and appoint a successor trusteeTrustee.
(e) If the Trustee shall resign, be removed or become incapable of actingacting with respect to any Notes, or if a vacancy shall occur in the office of Trustee with respect to any Notes for any cause, the Company, by a Board ResolutionResolution or written instrument executed by authority of the Board of Directors, shall use its best efforts to promptly appoint a successor trustee Trustee for such Notes and shall comply with the applicable requirements of Section 611. If, within 60 days after such resignation, removal or incapability, or the occurrence of such vacancy, the Company has not appointed a successor Trustee, a successor trustee shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon its acceptance of such appointment become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Holders of the Securities and accepted appointment in the manner hereinafter provided, the Trustee or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee6.
(f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office or agent hereunder.
Appears in 1 contract
Samples: Indenture (Hollinger Inc)
