Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 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. (b) In case at any time any of the following shall occur: (i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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 (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 Holder; or (iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Holder 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 trustee 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. (c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders. (d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12. (e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Indenture (Workday, Inc.), Indenture (Illumina, Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series Series of Securities by giving written notice of resignation to the IssuerCompany. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee or trustees with respect to the each applicable series Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees, and shall give notice in the manner and to the extent provided in Section 12.4 hereof to the Holders of the applicable Series with respect to which the Trustee has resigned at their last addresses as they shall appear in the Securities Register. If no successor trustee shall have been so appointed with respect to any series Series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition petition, at the sole expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder of a Security or Securities of the applicable series Series for at least six months may, subject to the provisions of Section 4.125.12 hereof, on behalf of himself such Xxxxxx and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 hereof with respect to any series Series of Securities after written request therefor by the Issuer Company or by any Holder who has been a bona fide Holder of a Security or Securities of such series Series for at least six monthsmonths unless the Trustee’s duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 hereof and shall fail to resign after written request therefor by the Issuer Company or by any Holder; or
(iii) the Trustee shall become incapable of acting with respect to any series 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, the Issuer may Company may, upon 30 days prior written notice to the Trustee, remove the Trustee with respect to the applicable series Series of Securities and appoint a successor trustee for such series Series by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or and, upon such removal, shall give notice in the manner and to the extent provided in Section 12.4 hereof to the Holders of the applicable Series with respect to which the Trustee has been removed at their last addresses as they shall appear in the Securities Register, or, subject to the provisions of Section 5.12 hereof, any Holder who has been a bona fide Holder of a Security or Securities of such series Series for at least six months may on behalf of himself such Xxxxxx and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such seriesSeries. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series Series at the time Outstanding may may, at any time, time upon 30 days’ advance days prior written noticenotice to the Company and to the Trustee, remove the Trustee with respect to Securities of such series Series and such Holders shall provide promptly to the Company the evidence provided for in Section 7.1 hereof of the action in that regard taken by the Holders. In such an event and upon receipt of such evidence, the Company 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, such evidence received from the Holders. If no successor Trustee shall have been appointed with respect to such Series within 30 days after the mailing of such notice of removal, the Trustee being removed 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 with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the HoldersSeries.
(d) Any resignation or removal of the Trustee with respect to any series Series and any appointment of a successor Trustee trustee with respect to such series Series pursuant to any of the provisions of this Section 5.11 6.10 hereof shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11 hereof.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Indenture (Fidelity National Financial, Inc.), Indenture (F&G Annuities & Life, Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Debt Securities of any one or more or all series of Securities Series by giving not less than 90 days’ written notice of resignation to the IssuerRepublic and by providing notice thereof to the affected Holders at the expense of the Republic as provided in paragraph 12 of the Terms of the affected Series. Upon receiving such notice of resignation, the Issuer Republic shall promptly appoint a successor trustee or trustees with respect to the applicable series such Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee may may, at the expense and on behalf of the Republic, appoint its own successor or petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security or Securities of the applicable series 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 such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Debt Securities of the affected Series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) i. the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Republic or by any Holder; or
(iii) ii. the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Republic may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Debt Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Debt Security or Securities of such series any affected 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 with respect to the Debt Securities of such seriesSeries. Such court may thereupon, If no successor trustee shall have been so appointed and have accepted appointment within 60 days after such noticenotice of removal has been given, if any, as it may deem proper and prescribe, remove the Trustee being removed may, at the expense and on behalf of the Republic, appoint its own successor or petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security of such Series for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee.
(c) The Holders of a majority Majority in aggregate principal amount Outstanding of the Debt Securities of each series at the time Outstanding any Series may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to trustee for the Debt Securities of such series with the consent of the Issuer Series by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Republic the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Indenture (Republic of Indonesia), Indenture (Republic of Indonesia)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the Issuer. Upon receiving such notice of resignation, the 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, one copy of which each instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing giving of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Security holder 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 for the appointment of a successor trusteetrustee at the expense of the Issuer. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(b) In case If at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions pro visions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities TIA after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.7 and shall fail to resign after written request therefor by the Issuer or by any Holder; orSecurityholders;
(iii) the Trustee shall become became incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee 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 Issuer, 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 4.12, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.9.
(e) Any The Issuer shall give notice of each resigna tion and each removal of the Trustee and each appointment of a successor Trustee appointed pursuant to this Section may be appointed with respect trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities affected as their names and addresses appear in the Security register. Each notice shall include the name of one or more series or all the successor trustee and the address of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular seriesits principal corporate trust office.
Appears in 2 contracts
Samples: Indenture (American Tower Corp /Ma/), Indenture (American Tower Corp /Ma/)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Securities of one or more or all series of Securities by giving written notice of resignation to the IssuerCompany and to the Holders of Securities 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 Issuer Company 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 DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition 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 applicable affected series for at least six months (or since the first date of the issuance for such Security or Securities, if the holding period is less than six months) may, subject to the provisions of Section 4.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities Act, after written request therefor by the Issuer Company or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a as bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series by written instrument, in duplicate, executed by order authority of the Board of Directors of the IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act, any Holder Securityholder who has been a bona fide Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount Principal Amount of the Securities of each any series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such for that series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company and any Guarantor the evidence provided for in Section 6.01 7.01 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed and have accepted appointment 30 days after the mailing of such notice of removal, the Trustee being removed may petition, at the expense of the Company, 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to The Company shall give notice of each resignation and each removal of the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular seriesseries and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to 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 with respect to the Securities of such series and the address of its Corporate Trust Office.
Appears in 2 contracts
Samples: Indenture (Nicewonder Contracting, Inc.), Subordinated Indenture (Nicewonder Contracting, Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerIssuer and by mailing notice of such resignation to the Holders of then Outstanding Securities affected at their addresses as they shall appear on the registry books. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.126.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.09 and shall fail to resign after written request therefor by the Issuer or by any HolderSecurityholder; or
(iiiii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.01 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Trust Indenture (First Responder Systems & Technology Inc.), Trust Indenture (First Responder Systems & Technology Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Debt Securities of any one or more or all series of Securities Series by giving not less than 90 days’ written notice of resignation to the IssuerRepublic and by providing notice thereof to the affected Holders at the expense of the Republic as provided in paragraph 11 of the Terms of the affected Series. Upon receiving such notice of resignation, the Issuer Republic shall promptly appoint a successor trustee or trustees with respect to the applicable series such Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee may may, at the expense of the Republic, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security or Securities of the applicable series 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 such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Debt Securities of the affected Series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) i. the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Republic or by any Holder; or
(iii) ii. the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Republic may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Debt Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Debt Security or Securities of such series any affected 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 with respect to the Debt Securities of 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 trusteeSeries.
(c) The Holders of a majority Majority in aggregate principal amount Outstanding of the Debt Securities of each series at the time Outstanding any Series may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to trustee for the Debt Securities of such series with the consent of the Issuer Series by delivering to the Trustee so removed, to the successor Trustee trustee (which, so long as no Event of Default shall have occurred and be continuing under the Indenture or any Debt Securities, shall not be a successor institution to which the Republic reasonably objects) so appointed and to the Issuer Republic, the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant In the case of any Series of Debt Securities proposed to this Section may be appointed with respect issued hereunder that are subject to the laws of a jurisdiction outside of the United States, at the option of the Republic or the Trustee, the Republic will appoint a successor trustee for such Series of Debt Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect prior to the Securities of any particular seriesauthentication thereof.
Appears in 2 contracts
Samples: Indenture (Republic of Colombia), First Supplemental Indenture (Republic of Colombia)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerIssuers. Upon receiving such notice of resignation, the Issuer Issuers 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 DirectorsDirectors of each Issuer, one copy of which instrument shall be delivered to the resigning Trustee trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the Issuer Issuers 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer Issuers or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer Issuers may remove the Trustee 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 each Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Article Five any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Issuers the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.9, on behalf of himself and all others similarly situated, petition any such court 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Senior Indenture (Triton Energy Corp), Senior Indenture (Triton Energy LTD)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerCompany and by mailing notice thereof by first class mail to the Holders of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.127.11, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 7.08 with respect to any series of Securities after written request therefor by the Issuer Company 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.09 and shall fail to resign after written request therefor by the Issuer Company or by any HolderSecurityholder; or
(iii) 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, 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
(iv) the Company shall determine that the Trustee has failed to perform its obligations under this Indenture in any material respect; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 7.11, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. If no successor trustee shall have been appointed and have accepted appointment within 30 days after a notice of removal has been given, the removed trustee may petition a court of competent jurisdiction for the appointment of a successor trustee.
(c) The Holders of a majority in aggregate principal amount Principal Amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 1.05 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Indenture (Omnicom Capital Inc), Indenture (Omnicom Group Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 as trustee by giving written notice of resignation to the IssuerIssuer 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. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition at the expense of the Issuer 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 for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeprescribed, appoint a successor trustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act of 1939 with respect to any series of the Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act of 1939 and shall fail to resign after written request therefor by the Issuer or by any HolderSecurityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal Principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to the Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Indenture (Cone Mills Corp), Indenture (Cone Mills Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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
(c) The Holders of Directors a majority in aggregate principal amount of the Issuer, one copy Securities of which instrument shall be delivered each series then Outstanding may at any time remove the Trustee with respect to Securities of such series and appoint a successor trustee with respect to the Securities of such series by delivering to the Trustee so removed and one copy removed, to the successor trustee so appointed and to the Issuer the evidence provided for in Section 7.1 of the action in that regard taken by the Securityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee 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 such the applicable series for at least six months may 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 removal of the Trustee and the appointment of a successor trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Senior Subordinated Indenture (Belco Oil & Gas Corp), Senior Subordinated Indenture (Belco Oil & Gas Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerIssuers and by mailing notice thereof by first-class mail to holders of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Issuer Issuers shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument instrument, in duplicate, executed by authority of the Board of DirectorsDirectors of each Issuer, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 1939, after written request therefor by the an Issuer or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by the an Issuer or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; : then, in any such case, the Issuer Issuers may remove the Trustee 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 each Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder Securityholder who has been a bona fide Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Issuers the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Indenture (Dennys Holdings Inc), Indenture (Dennys Holdings Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.125.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Article Five, any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.12, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Senior Indenture (Citizens Communications Co), Subordinated Indenture (Citizens Communications Co)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 5.9, any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the Holders.Securityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Senior Indenture (Belco Oil & Gas Corp), Senior Indenture (Belco Oil & Gas Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Debt Securities by giving written notice of resignation to the IssuerIssuer and by mailing notice thereof by first-class mail to Holders of the applicable series of Debt Securities at their last addresses as they shall appear on the Debt Security register. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Debt Securityholder who has been a bona fide Holder of a Debt Security or Debt Securities of the applicable series for at least six months may, subject to the provisions of Section 4.125.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case If at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.08 with respect to any series of Debt Securities after written request therefor by the Issuer or by any Holder Debt Securityholder who has been a bona fide Holder of a Debt Security or Debt Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.09 and shall fail to resign after written request therefor by the Issuer or by any HolderDebt Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Debt Securities, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee with respect to the applicable series of Debt Securities and appoint a successor trustee for such series by written instrument, in duplicate, executed by order of the President or the Board of Directors of the Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 5.12, any Holder Debt Securityholder who has been a bona fide Holder of a Debt Security or Debt 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Debt Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Debt Securities of such series and appoint a successor Trustee trustee with respect to the Debt Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.01 of the action in that regard taken by the HoldersDebt Securityholders.
(d) Any resignation or removal of the Trustee with respect to any series of Debt Securities and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Subordinated Indenture (Financial Security Assurance Holdings LTD/Ny/), Trust Indenture (Financial Security Assurance Holdings LTD/Ny/)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, 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 for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act of 1939 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act of 1939 and shall fail to resign after written request therefor by the Issuer or by any HolderSecurityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 5.09 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerCompany and by mailing notice thereof by first-class mail to Holders of the Securities at their last addresses as they shall appear on the Security Register. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing 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, 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 4.126.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer Company or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six monthsmonths unless the Trustee's duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.9 and shall fail to resign after written request therefor by the Issuer Company or by any HolderSecurityholder; or
(iii) or the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, ; or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 6.12, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 8.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any No resignation or removal of the Trustee with respect to any series and any no appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon until acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Junior Subordinated Indenture (Quanta Capital Holdings LTD), Junior Subordinated Indenture (Endurance Specialty Holdings LTD)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Debt Securities of any one or more or all series of Securities Series by giving not less than 90 days’ written notice of resignation to the IssuerRepublic and by providing notice thereof to the affected Holders at the expense of the Republic as provided in paragraph 11 of the Terms of the affected Series. Upon receiving such notice of resignation, the Issuer Republic shall promptly appoint a successor trustee or trustees with respect to the applicable series such Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee may may, at the expense of the Republic, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security or Securities of the applicable series 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 such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Debt Securities of the affected Series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Republic or by any Holder; or
(iiiii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Republic may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Debt Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Debt Security or Securities of such series any affected 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 with respect to the Debt Securities of 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 trusteeSeries.
(c) The Holders of a majority Majority in aggregate principal amount Outstanding of the Debt Securities of each series at the time Outstanding any Series may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to trustee for the Debt Securities of such series with the consent of the Issuer Series by delivering to the Trustee so removed, to the successor Trustee trustee (which, so long as no Event of Default shall have occurred and be continuing under the Indenture or any Debt Securities, shall not be a successor institution to which the Republic reasonably objects) so appointed and to the Issuer Republic the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant In the case of any Series of Debt Securities proposed to this Section may be appointed with respect issued hereunder that are subject to the laws of a jurisdiction outside of the United States, at the option of the Republic or the Trustee, the Republic will appoint a successor trustee for such Series of Debt Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect prior to the Securities of any particular seriesauthentication thereof.
Appears in 2 contracts
Samples: Indenture (Federative Republic of Brazil), Indenture (Federative Republic of Brazil)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerCompany and by mailing notice thereof by first-class mail to Holders of the Securities at their last addresses as they shall appear on the Security Register. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee 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 of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 4.126.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer Company or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six monthsmonths unless the Trustee’s duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.9 and shall fail to resign after written request therefor by the Issuer Company or by any HolderSecurityholder; or
(iii) or the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, ; or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 6.12, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 8.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any No resignation or removal of the Trustee with respect to any series and any no appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon until acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Indenture (National Grid PLC), Indenture (National Grid PLC)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may trustee may, at the expense of the Issuer, 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.;
Appears in 2 contracts
Samples: Senior Indenture (Seagull Energy Corp), Senior Subordinated Indenture (Seagull Energy Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerIssuer and by mailing notice of such resignation to the Holders of the then Outstanding Notes at their addresses as they shall appear on the register of the Registrar. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument instrument, in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and shall have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder of a Security or Securities of the applicable series Note for at least six months may, subject to the provisions of Section 4.125.12, on behalf of himself such Holder and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 6.8 after written request therefor by the Issuer or by any Holder who has been a bona fide Holder of a Security or Securities of such series Note for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any such Holder; or
(iii) 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, 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
(iv) the Issuer shall elect to remove the Trustee, provided that no Event of Default, or event which following notice or the passage of time or both would constitute an Event of Default, shall then exist with respect to the Notes and such removal does not adversely affect the interests of any Holder of the Notes; then, in any such case, the Issuer may remove the Trustee 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 IssuerDirectors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteetrustee or trustees, or or, subject to the provisions of Section 5.12, any Holder who has been a bona fide Holder of a Security or Securities of such series Note for at least six months may may, on behalf of himself such Holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 2 contracts
Samples: Indenture (Aerial Communications Inc), Indenture (American Portable Telecom Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerIssuers. Upon receiving such notice of resignation, the Issuer Issuers 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 DirectorsDirectors of each Issuer, one copy of which instrument shall be delivered to the resigning Trustee trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the Issuer Issuers 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer Issuers or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer Issuers may remove the Trustee 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 each Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Article Five, any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Issuers the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Article Five, on behalf of himself and all others similarly situated, petition any such court 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may trustee may, at the expense of the Issuer, 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 5.9, any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may, at the expense of the Issuer, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.9, on behalf of himself and all others similarly situated, petition any such court 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.6.11. -45- 52
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerIssuer and by mailing notice thereof by first-class mail to holders of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 1939, after written request therefor by the Issuer or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder securityholder who has been a bona fide Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee Trustee or trustees Trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities the Notes by giving 30 days’ written notice of resignation to the IssuerCompany and by giving notice thereof to the Noteholders as specified in Section 11.4 and to the CNV, at the expense of the Company. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee Trustee or trustees Trustees with respect to the applicable series Notes by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee Trustee or trusteesTrustees. If no successor trustee Trustee shall have been so appointed with respect to any series the Notes and have accepted appointment within 30 days after the mailing giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or any Holder who has been a bona fide Holder the Holders of a Security or Securities at least 10% in principal amount 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, Notes may petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and as it may prescribe, appoint a successor trusteeTrustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) 5.8 or shall fail to comply with the provisions of the Trust Indenture Act TIA Section 310(b), and shall fail to resign after written request therefor by or on behalf of the Issuer Company or by any HolderNoteholder; or
(iiiii) the Trustee shall become incapable of acting with respect to any series of Securitiesthe Notes, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, (A) the Issuer Company, by a Board Resolution, may remove the Trustee with respect to the applicable series of Securities Notes and appoint a successor trustee for such series Trustee by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or any Holder who has been a bona fide Holder (B) subject to TIA Section 315(e), the Holders of a Security or Securities of such series for at least six months 10% in principal amount of the Notes 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 Trustee with respect to such seriesthe Notes. Such court may thereupon, after such notice, if any, as it may deem proper and as it may prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series Notes at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series Notes and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the HoldersNoteholders.
(d) Any resignation or removal of the Trustee with respect to any series the Notes and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities and be discharged from the trusts hereby created by giving written notice of resignation thereof to the IssuerSeller, the Servicer and the Certificateholders. Upon receiving such notice of resignation, the Issuer Majority Certificateholders shall promptly appoint a successor trustee or trustees with respect to the applicable series trustee, by written instrument instrument, in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 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.
(b) In case If at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 9.07 and shall fail to resign after written request therefor by the Issuer Majority Certificateholders; or by any Holder; or
(iiiii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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 conversion or liquidation; then, in any such case, then the Issuer Majority Certificateholders may remove the Trustee. If the Trustee with respect to is removed under the applicable series authority of Securities and the immediately preceding sentence, the Majority Certificateholders shall promptly appoint a successor trustee for such series trustee, by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 9.08 shall not become effective only upon until acceptance of appointment by the successor Trustee trustee as provided in Section 5.129.09.
(ed) Any successor The Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect paid all amounts owed to the Securities of any particular seriesit hereunder upon its resignation or removal.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Resource America Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee Trustee or trustees 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 Issuer. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee Trustee or trustees Trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee Trustee or trusteesTrustees. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, 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 4.12SECTION 6.12, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trusteesuccessor. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 7.8 with respect to any series of Securities after written request therefor by the Issuer or by any Holder Securityholder who has been a bona fide BONA FIDE Holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee Trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or or, subject to the provisions of Article V, any Holder Securityholder who has been a bona fide 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 trustee Trustee 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 trusteeTrustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee, or any Securityholder who has been a BONA FIDE Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of SECTION 6.12, on behalf of himself and all others similarly situated, petition any such court 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 SECTION 7.10 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12SECTION 7.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
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 with respect to one or more or all series of Securities by giving written notice of resignation thereof to the IssuerCompany. Upon receiving such notice of or resignation, the Issuer Company shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicatetrustee, executed by authority of the Board of Directors, one a copy of such appointment which instrument shall be delivered to the resigning Trustee and one a copy to the successor trustee or trusteestrustee. If no an instrument of acceptance by a successor trustee shall not have been so appointed with respect delivered to any series and have accepted appointment the Trustee within 30 days after the mailing giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteemay, or any Holder 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 proper and prescribeproper, appoint and prescribe a successor trustee.
(bc) In case The Trustee may be removed at any time for any cause or for no cause by an Act of the following shall occurHolders 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:
(i1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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,
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of under Section 310(a) of the Trust Indenture Act 609 and shall fail to resign after written request therefor by the Issuer Company or by any Holder; Holder who has been a bona fide Holder of a Security for at least six months, or
(iii3) 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 Issuer Company may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or (ii) subject to Section 514, the Holder of any Holder Security 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ce) The 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 shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 611. If, within 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 aggregate principal amount of the Outstanding Securities of each series at delivered to the time Outstanding may at any time, Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon 30 days’ advance written notice, remove the Trustee with respect to Securities its acceptance of such series appointment become the successor trustee and appoint 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 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 with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holderstrustee.
(df) Any The Company shall give notice of each resignation or and each removal of the Trustee with respect to any series and any each appointment of a successor Trustee with respect trustee by mailing written notice of such event by first-class mail, postage prepaid, to such series pursuant to any the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the provisions successor trustee and the address of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12its Corporate Trust Office or agent hereunder.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Exhibit (Tri R of Orlando Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerCRC and all Grantors. Upon receiving such notice of resignationresignation Grantors shall, by the Issuer shall vote, at a meeting or by proxy, of Grantors holding a majority of the outstanding CPI Shares held by Grantors, promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument instrument, in duplicate, executed by authority of the Board of Directorstriplicate, one copy of which instrument shall be delivered to the resigning Trustee and Trustee, one copy to the successor trustee or trusteesand one copy to CRC. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 thirty days after the mailing giving of such notice of resignation, the resigning 15 15 Trustee or any Grantor may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer this Agreement 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
(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 Holder; or
(iii) if the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or if a receiver or liquidator of the Trustee or of its property shall be appointed, or if any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitationaffairs, conservation or liquidation; then, then and in any such casecase the Grantors may by the vote, at a meeting or by proxy, of Grantors holding a majority of the Issuer may outstanding CPI Shares held by the Grantors remove the Trustee 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 Issuertriplicate, one copy of which instrument shall be delivered to the Trustee so removed and removed, one copy to the successor trustee, or any Holder 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 trustee and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect one copy 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the HoldersCRC.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 trustee shall become effective only upon the acceptance in writing of the appointment by the successor Trustee as provided in Section 5.12trustee and the agreement by such successor trustee to the terms and provisions of this Agreement.
(e) Any Upon the appointment and acceptance of a successor trustee, the Trustee appointed pursuant shall promptly assign and transfer to this Section may be appointed with respect such successor trustee, subject to the Securities provisions of one Section 5.4 hereof, all shares of stock and other assets held in the CRC Trust and shall deliver to such successor trustee a certified list of all the Grantors together with any other assets or more series or all of such series, and at any time there shall be only one Trustee with respect to property held in the Securities of any particular seriesCRC Trust.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Debt Securities of any one or more or all series of Securities Series by giving not less than 90 days’ written notice of resignation to the IssuerRepublic and by providing notice thereof to the affected Holders at the expense of the Republic as provided in paragraph 12 of the Terms of the affected Series. Upon receiving such notice of resignation, the Issuer Republic shall promptly appoint a successor trustee or trustees with respect to the applicable series such Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee may may, at the expense of the Republic, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security or Securities of the applicable series 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 such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Debt Securities of the affected Series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) i. the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Republic or by any Holder; or
(iii) ii. the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Republic may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Debt Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Debt Security or Securities of such series any affected 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 with respect to the Debt Securities of such seriesSeries. Such court may thereupon, If no successor trustee shall have been so appointed and have accepted appointment within 60 days after such noticenotice of removal has been given, if any, as it may deem proper and prescribe, remove the Trustee being removed may, at the expense of the Republic, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security of such Series for at least six months may, on behalf of himself and appoint all others similarly situated, petition any such court for the appointment of a successor trustee.
(c) The Holders of a majority Majority in aggregate principal amount Outstanding of the Debt Securities of each series at the time Outstanding any Series may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to trustee for the Debt Securities of such series with the consent of the Issuer Series by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Republic the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Republic of Argentina)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Debt Securities of any one or more or all series of Securities Series by giving not less than 90 days’ written notice of resignation to the IssuerRepublic and by providing notice thereof to the affected Holders at the expense of the Republic as provided in Paragraph 11 of the Terms of the affected Series. Upon receiving such notice of resignation, the Issuer Republic shall promptly appoint a successor trustee or trustees with respect to the applicable series such Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee may may, at the expense of the Republic, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security or Securities of the applicable series 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 such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Debt Securities of the affected Series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) i. the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Republic or by any Holder; or
(iii) ii. the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Republic may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Debt Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Debt Security or Securities of such series any affected 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 with respect to the Debt Securities of 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 trusteeSeries.
(c) The Holders of a majority Majority in aggregate principal amount Outstanding of the Debt Securities of each series at the time Outstanding any Series may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to trustee for the Debt Securities of such series with the consent of the Issuer Series by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Republic the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant In the case of any series of Debt Securities proposed to this Section may be appointed with respect issued hereunder that are subject to the laws of a jurisdiction outside the United States, at the option of the Trustee or the Republic, the Republic will appoint a successor trustee for such series of Debt Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect prior to the Securities of any particular seriesauthentication thereof.
Appears in 1 contract
Samples: Indenture (Peru Republic Of)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Notes by giving written notice of resignation to the IssuerCompany and by mailing notice thereof by first class mail to the Holders of Notes at their last addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder of a Security or Securities of the applicable series Note for at least six months may, subject to the provisions of Section 4.127.11, on behalf of himself and all others similarly situated, petition at the expense of the Company any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 7.08 with respect to any series of Securities Notes after written request therefor by the Issuer Company or by any Holder who has been a bona fide Holder of a Security or Securities of such series Note for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holder; or
(iii) 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, 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
(iv) the Company shall determine that the Trustee has failed to perform its obligations under this Indenture in any material respect; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 7.11, any Holder who has been a bona fide Holder of a Security or Securities of such series 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 with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. If no successor trustee shall have been appointed and have accepted appointment within 30 days after a notice of removal has been given, the removed trustee may petition at the expense of the Company a court of competent jurisdiction for the appointment of a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series Notes at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 1.05 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Osi Pharmaceuticals Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) The Subject to Section 5.9(d), 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 the Notes by giving thirty (30) days’ written notice of resignation to the IssuerCompany. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 5.8 it shall resign immediately in the manner and with the effect hereinafter specified in this Section 5.9 Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee or trustees with respect to the applicable series Notes by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series the Notes and have accepted appointment within 30 thirty (30) days after the mailing giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder the Holders of a Security or Securities at least 10% in aggregate principal amount 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, Notes may petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and as it may prescribe, appoint a successor trustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Company or by any Holder; or
(iiiii) the Trustee shall become incapable of acting with respect to any series of Securitiesthe Notes, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, (i) the Issuer may Company may, by a resolution of the Board of Directors, remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Holder who has been a bona fide Holder (ii) the Holders of a Security or Securities of such series for at least six months 10% in aggregate principal amount of the Notes Outstanding 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 with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and as it may prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Notes Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series Notes and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the such Holders.
(d) Any resignation or removal of the Trustee with respect to any series Notes and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall not become effective only upon prior to acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Cresud Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 TLGI and by mailing notice of such resignation to the IssuerHolders of then Outstanding Securities of each series affected at their addresses as they shall appear on the registry books. Upon receiving such notice of resignation, the Issuer TLGI 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 7.13 with respect to any series of Securities after written request therefor by the Issuer TLGI 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
or (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.11 and shall fail to resign after written request therefor by the Issuer TLGI or by any Holdersuch Securityholder; or
or (iii) 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, 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, the Issuer TLGI may remove the Trustee 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 IssuerDirectors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 5.9, any Holder 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 trustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem deed proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer TLGI the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 7.09 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.14.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to the Debt Securities of one or more or all series of Securities by giving written notice of resignation to the IssuerCompany and by mailing written notice thereof by first-class mail, postage prepaid, to all Holders at their last addresses as they shall appear on the Debt Security Register. Upon receiving such notice of resignation, the Issuer Company 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 DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may at the expense of the Company petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder holder of a Debt Security or Debt Securities of the applicable series for at least six months may, subject to the provisions of Section 4.126.12 hereof, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 7.8 hereof or Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.9 hereof and shall fail to resign after written request therefor by the Issuer Company or by any Holder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a to be bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove vary or terminate the appointment of the Trustee with respect to the applicable series of all Debt Securities and appoint a successor trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 7.11 hereof, unless the Trustee’s duty to resign is stayed as provided herein, any Holder Hxxxxx 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 with respect to all Debt Securities and the appointment of a successor trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.successor
Appears in 1 contract
Samples: Indenture (Multicanal Sa)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series and be discharged of Securities the trusts created by this Indenture by giving written notice of resignation to the IssuerIssuer and by mailing notice of such resignation to the Holders of the then Outstanding Securities at their addresses as they shall appear on the Security registry books. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument instrument, in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and shall have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder of a Security or Securities of the applicable such series for at least six months may, subject to the provisions of Section 4.125.12, on behalf of himself such Holder and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 6.8 after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holder; or
(iii) 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, 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, the Issuer may remove the Trustee with respect to the applicable series Securities of Securities any or all series, as appropriate, and appoint a successor trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerDirectors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteetrustee or trustees, or or, subject to the provisions of Section 5.12, any Holder 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 such Holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Except in the case of a default in the payment of the principal of or interest on any Security, or in the payment of any sinking or purchase fund installment, the Trustee appointed pursuant shall not be required to resign as provided by Section 6.8 if the Trustee shall have sustained the burden of proving, on application to the Commission and after opportunity for hearing thereon, that:
(i) the default under this Section Indenture may be appointed cured or waived during a reasonable period and under the procedures described in such application; and
(ii) a stay of the Trustee's duty to resign will not be inconsistent with respect to the Securities interests of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular seriesSecurityholders.
Appears in 1 contract
Samples: Indenture (Laclede Capital Trust I)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving not less than 60 days' written notice of resignation to the IssuerIssuer and the Guarantor and by mailing notice thereof by first-class mail to Noteholders at their last addresses as they shall appear on the Register. Upon receiving such notice of resignation, the Issuer and the Guarantor shall promptly appoint a successor trustee or trustees with respect to the applicable series Trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteesTrustee. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or any Holder Noteholder who has been a bona fide Holder holder of a Security Note or Securities of the applicable series Notes 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 for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.07 and shall fail to resign after written request therefor by or on behalf of the Issuer or by any Holdersuch Noteholder; or
(iiiii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer or the Guarantor may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series Trustee by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerIssuer or the Guarantor, as the case may be, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or or, any Holder Noteholder who has been a bona fide Holder holder of a Security Note or Securities of such series Notes 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 with respect to such seriesTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(c) The Holders holders of a majority Majority in aggregate principal amount of the Securities of each series Notes at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer and the Guarantor the evidence provided for in Section 6.01 of the action in that regard taken by the HoldersNoteholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.125.09.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (PCCW 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 6.11.
(b) The Trustee, or any trustee or trustees hereafter hereinafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation thereof to the IssuerCompany. Upon receiving such notice of resignation, the Issuer Company 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 Directorsthe Company, one a copy of which instrument shall be delivered to the resigning Trustee and one a copy to the successor trustee or trusteesTrustee. If no an instrument of acceptance by a successor trustee Trustee shall not have been so appointed with respect delivered to any series and have accepted appointment the Trustee within 30 days 20 Business Days after the mailing giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteemay, or any Holder 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 trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteeTrustee.
(bc) In case The Trustee may be removed at any time any by an Act of the following shall occurHolders of a majority in principal amount of the Out- standing Securities, delivered to the Trustee and to the Company.
(d) If at any time:
(i1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with respect to any series of Securities Section 6.08 hereof after written request therefor by the Issuer 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
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of under Section 310(a) of the Trust Indenture Act 6.09 hereof and shall fail to resign after written request therefor by the Issuer Company or by any such Holder; , or
(iii3) 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 or rehabilitation, conservation or liquidation; , then, in any such case, (i) the Issuer Company by a Board Resolution of its Board may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or (ii) subject to Section 5.14, the Holder of any Holder Security 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 trustee with respect to such seriesTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(ce) The 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 of its Board, shall promptly appoint a successor Trustee. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee shall be appointed by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect delivered to the Securities of such series with Company and the consent of the Issuer by delivering to the Trustee so removedretiring Trustee, to the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the successor Trustee and to supersede the Issuer successor Trustee appointed by the evidence provided for in Section 6.01 Company. If no successor Trustee shall have been so appointed by the Company or the Holders of the action Securities and accepted appointment in that regard taken by the Holdersmanner hereinafter provided, the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Sec- tion 5.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee.
(df) Any The Company shall give notice of each resignation or and each removal of the Trustee with respect to any series and any each appointment of a successor Trustee with respect by mailing written notice of such event by first-class mail, postage prepaid, to such series pursuant to any the Holders of Securities as their names and addresses appear in the provisions Security Register. Each notice shall include the name of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12and the address of its Corporate Trust Office.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerCompany and the Guarantor. Upon receiving such notice of resignation, the Issuer Company or the Guarantor 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition 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 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 1939, after written request therefor by the Issuer Company, the Guarantor or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 509 and shall fail to resign after written request therefor by the Issuer Company, the Guarantor or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Company or the Guarantor may remove the Trustee 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 IssuerCompany or the Guarantor, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder Securityholder who has been a bona fide Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company and the Guarantor the evidence provided for in Section 6.01 601 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed and have accepted appointment 30 days after the mailing of such notice of removal, the trustee being removed may petition, at the expense of the Company and the Guarantor, 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 510 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.12511.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Vencor Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerIssuer and by mailing notice thereof by first-class mail to Holders of Securities at their last addresses as they shall appear on the Securities Register. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteesTrustee. If no such successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee 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 for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem deemed proper and prescribe, appoint a successor trustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities Act, after written request therefor thereafter by the 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;
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 hereof and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy of which shall be delivered to the successor trustee, or or, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate aggregated principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 6.1 hereof of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10 hereof.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (NRG Energy Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerCompany and by mailing notice thereof by first-class mail to holders of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 1939, after written request therefor by the Issuer Company or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder Securityholder who has been a bona fide Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Benton Oil & Gas Co)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Notes by giving written notice of resignation to the IssuerCompany and by mailing notice thereof by first class mail to the Holders of Notes at their last addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Noteholder who has been a bona fide Holder of a Security or Securities of the applicable series Note for at least six months may, subject to the provisions of Section 4.127.11, on behalf of himself and all others similarly situated, petition at the expense of the Company any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 7.08 with respect to any series of Securities Notes after written request therefor by the Issuer Company or by any Holder Noteholder who has been a bona fide Holder of a Security or Securities of such series Note for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.09 and shall fail to resign after written request therefor by the Issuer Company or by any HolderNoteholder; or
(iii) 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, 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
(iv) the Company shall determine that the Trustee has failed to perform its obligations under this Indenture in any material respect; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 7.11, any Holder Noteholder who has been a bona fide Holder of a Security or Securities of such series 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 with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. If no successor trustee shall have been appointed and have accepted appointment within 30 days after a notice of removal has been given, the removed trustee may petition at the expense of the Company a court of competent jurisdiction for the appointment of a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series Notes at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 1.05 of the action in that regard taken by the HoldersNoteholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.7.11. -50-
Appears in 1 contract
Samples: Indenture (Osi Pharmaceuticals Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.12Article Five, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Article Five, any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.9, on behalf of himself and all others similarly situated, petition any such court 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerIssuer and by mailing notice thereof by first-class mail to holders of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series Trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteesTrustee. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or any Holder Securityholder who has been a bona fide Holder 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 for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper proper, prescribe and prescribe, appoint a successor trusteeTrustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 1939, after written request therefor by the Issuer or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series Trustee by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder Securityholder who has been a bona fide Holder 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 trustee with respect to such seriesTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(c) The Holders holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Ich 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 6.11.
(b) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Securities of one or more or all series of Securities by giving written notice of resignation thereof to the IssuerIssuer at least 20 Business Days prior to the date of such proposed resignation. Upon receiving such notice of resignation, the Issuer shall shall, after all monies due and owing have been paid to the Trustee, 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, one a copy of which instrument shall be delivered to the resigning Trustee and one a copy to the successor trustee or trusteesTrustee. If no an instrument of acceptance by a successor trustee Trustee shall not have been so appointed with respect delivered to any series and have accepted appointment the Trustee within 30 days 20 Business Days after the mailing giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteemay, or any Holder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six consecutive months immediately prior to such date 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 trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteeTrustee.
(bc) In case The Trustee may be removed at any time with respect to the Securities of any series by an Act of the following shall occurHolders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Issuer.
(d) If at any time:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with respect to any series of Securities Section 6.08 hereof after written request therefor by the Issuer or by any Holder who has been a bona fide Holder of a Security or Securities of such series for at least six months; consecutive months immediately prior to such date, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of under Section 310(a) of the Trust Indenture Act 6.09 hereof and shall fail to resign after written request therefor by the Issuer or by any Holder; Holder who has been a bona fide Holder of a Security for at least six consecutive months immediately prior to such date, or
(iii) 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 or rehabilitation, conservation or liquidation; , then, in any such case, (x) the Issuer by a Board Resolution may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeall Securities, or (y) subject to Section 5.14, any Holder of any Security who has been a bona fide Holder of a Security or Securities of such series for at least six consecutive months may immediately prior to such date 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 with respect to such seriesTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(ce) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove If the Trustee with respect to Securities shall resign, be removed or become disqualified from or incapable of such series and appoint acting, or if a successor vacancy shall occur in the office of Trustee for any cause with respect to the Securities of such series with one or more series, the consent of the Issuer Issuer, by delivering to the Trustee so removeda Board Resolution, to the shall promptly appoint a successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee Trustees with respect to the Securities of that or those series (it being understood that any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, series and 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 6.11. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Issuer and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the successor Trustee and supersede the successor Trustee appointed by the Issuer. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Issuer or the Holders and accepted appointment in the manner hereinafter provided, the Holder who has been a bona fide Holder of a Security of such series for at least six consecutive months immediately prior to such date may, subject to Section 5.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.
(f) The 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 of such 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.
Appears in 1 contract
Samples: Senior Debt Indenture (Caprock Communications Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to the Debt Securities of one or more or all series of Securities by giving written notice of resignation to the IssuerCompany and by mailing written notice thereof by first-class mail, postage prepaid, to all Holders at their last addresses as they shall appear on the Debt Security Register. Upon receiving such notice of resignation, the Issuer Company 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 DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may at the expense of the Company petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder holder of a Debt Security or Debt Securities of the applicable series for at least six months may, subject to the provisions of Section 4.126.12 hereof, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 7.8 hereof or Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.9 hereof and shall fail to resign after written request therefor by the Issuer Company or by any Holder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a to be bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove vary or terminate the appointment of the Trustee with respect to the applicable series of all Debt Securities and appoint a successor trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 7.11 hereof, unless the Trustee's duty to resign is stayed as provided herein, any Holder 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 with respect to all Debt Securities and the appointment of a successor trustee. If the Trustee has been removed and no successor trustee with respect to the Debt Securities of any series shall have been so appointed within 30 days after delivery of such seriesinstrument to the Trustee so removed, the Trustee so removed may at the expense of the Company 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, remove the Trustee and appoint a successor trusteetrustee with respect to the Debt Securities of such series.
(c) The Holders of a majority in aggregate principal amount of the Outstanding Debt Securities of each any series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 8.1 hereof of the action in that regard taken by the Holders.
(d) Any No resignation or removal of the Trustee with respect to any series and any no appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon until the acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11 hereof.
(e) Any successor Trustee appointed pursuant to this Section The Company or the Trustee, as the case may be appointed with respect to be, shall give notice of each resignation and each removal of the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Debt Securities of any particular seriesseries and each appointment of a successor Trustee to the Holders of Debt Securities of such series in the manner provided herein and in Section 12.
Appears in 1 contract
Samples: Indenture (Multicanal Sa)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Securities of one or more or all series of Securities by giving written notice of resignation to the IssuerCompany and to the Holders of Securities 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 Issuer Company shall promptly appoint a successor trustee or trustees with respect to the applicable series Trustee by written instrument in duplicate, executed by authority of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteesTrustee. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or any Holder Securityholder of the affected series who has been a bona fide Holder holder of a Security or Securities of the applicable affected series for at least six months may, subject to the provisions of Section 4.12, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteeTrustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities Act, after written request therefor by the Issuer Company or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a as bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series Trustee by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or or, subject to Section 315(e) of the Trust Indenture Act, any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months may on behalf of himself itself 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, remove the Trustee and appoint a successor Trustee.
(c) 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 for that series and appoint a successor trustee with respect by delivering to the Trustee so removed, to the successor trustee so appointed and to the Company the evidence provided for in Section 7.01 of the action in that regard taken by the Securityholders. If no successor Trustee shall have been so appointed and have accepted appointment within 60 days after the mailing of such seriesnotice of removal, the Company may appoint a successor Trustee by written instrument, 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. If no successor Trustee shall have been so appointed and have accepted appointment within 90 days after the mailing of the initial notice of removal from the Holders of a majority in aggregate Principal Amount of the Securities of the affected series at the time outstanding, the Trustee being removed may petition, at the expense of the Company, 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, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to The Company shall give notice of each resignation and each removal of the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular seriesseries and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to 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 with respect to the Securities of such series and the address of its Corporate Trust Office.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 the Subordinated Notes by giving written notice of resignation to the IssuerIssuer and by mailing notice thereof by first class or equivalent mail to the Holders at their last addresses as they shall appear on the Register. Upon receiving such notice of resignation, the 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 DirectorsBoard, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Noteholder who has been a bona fide Holder of a Security or Securities of the applicable series Noteholder 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act TIA with respect to any series of Securities the Subordinated Notes after written request therefor by the Issuer or by any Holder Noteholder who has been a bona fide Holder of a Security or Securities of such series Noteholder for at least six months; or
(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 HolderTIA; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesthe Subordinated Notes, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee with respect to the applicable series of Securities Subordinated Notes and appoint a successor trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the TIA, any Holder Noteholder who has been a bona fide Holder of a Security or Securities of such series Noteholder 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 with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding Subordinated Notes may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series Subordinated Notes and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer Subordinated Notes by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the HoldersNoteholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Abn Amro Bank Nv)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Debt Securities of any one or more or all series of Securities Series by giving not less than 90 days’ written notice of resignation to the IssuerProvince and by providing notice thereof to the affected Holders at the expense of the Province as provided in Paragraph 12 of the Terms of the affected Series. Upon receiving such notice of resignation, the Issuer Province shall promptly appoint a successor trustee or trustees with respect to the applicable series such Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security or Securities of the applicable series 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 such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Debt Securities of the affected Series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) i. the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Province or by any Holder; or
(iii) ii. the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Province may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Debt Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Debt Security or Securities of such series any affected 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 with respect to the Debt Securities of 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 trusteeSeries.
(c) The Holders of a majority Majority in aggregate principal amount Outstanding of the Debt Securities of each series at the time Outstanding any Series may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to trustee for the Debt Securities of such series with the consent of the Issuer Series by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Province the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant In the case of any Series of Debt Securities proposed to this Section may be appointed with respect issued hereunder that are subject to the laws of a jurisdiction outside the United States, United Kingdom or any other jurisdiction in which the Trustee generally acts as trustee thereunder, at the option of the Trustee or the Province, the Province will appoint a different trustee for such Series of Debt Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect prior to the authentication thereof. It is understood, for the avoidance of doubt, that any such Series of Debt Securities of any particular serieswill be governed by this Indenture.
Appears in 1 contract
Samples: Indenture
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may trustee may, at the expense of the Issuer, 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 5.9, any Holder 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 trustee -45- 52 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may, at the expense of the Issuer, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.9, on behalf of himself and all others similarly situated, petition any such court 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 5.9, any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the Holders.the
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 4.125.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act of 1939 with respect to any series of Securities after written request therefor by the Issuer or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.8 and shall fail to resign after written request therefor by the Issuer or by any HolderSecurityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 7.1, any Holder Securityholder who has been a bona fide Holder 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 trustee 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.
(c) The Holders holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Progressive Corp/Oh/)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Securities of one or more or all series of Securities by giving written notice of resignation to the IssuerCompany and to the Holders of Securities 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 Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition 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 applicable affected 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities Act, after written request therefor by the Issuer Company or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a as bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act, any Holder Securityholder who has been a bona fide Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount Principal Amount of the Securities of each any series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such for that series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 7.01 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed and have accepted appointment 60 days after the mailing of such notice of removal, the trustee being removed may petition, at the expense of the Company, 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to The Company shall give notice of each resignation and each removal of the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular seriesseries and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to 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 with respect to the Securities of such series and the address of its Corporate Trust Office.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerIssuer and by mailing written notice thereof by first-class mail, postage prepaid, to all Holders at their last addresses as they shall appear on the Security Register specifying the day upon which the resignation is to take effect, and such resignation will take effect immediately upon the later of the appointment of a successor trustee pursuant to this Article Eight and such specified day. Upon receiving such notice of resignation, the 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 Members of Directorsthe Issuer, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 thirty (30) days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder of a Security Bond or Securities of the applicable series Bonds 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions provision of Section 809 and TIA Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer or by any Holder who has been a bona fide Holder of a Security or Securities of such series for at least six (6) months, except when the Trustee's duty to resign is stayed in accordance with the provisions of Trust Indenture Act Section 310(b); or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 808 and shall fail to resign after written request therefor by the Issuer or by any HolderHolder who has been a bona fide Holder for at least six (6) months; or
(iii) 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, 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, the Issuer may may, by Management Committee's consent, remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.the
Appears in 1 contract
Samples: Indenture (Cedar Brakes I 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 6.11.
(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 thereof to Holdings at least 20 Business Days prior to the Issuerdate of such proposed resignation; provided such trustee shall agree to cooperate with Holdings with respect to the appointment of a successor trustee and ongoing matters. Upon receiving such notice of resignation, Holdings shall, after all monies due and owing have been paid to the Issuer shall Trustee, 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, one a copy of which instrument shall be delivered to the resigning Trustee and one a copy to the successor trustee or trusteesTrustee. If no an instrument of acceptance by a successor trustee Trustee shall not have been so appointed with respect delivered to any series and have accepted appointment the Trustee within 30 days 20 Business Days after the mailing giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteemay, or any Holder who has been a bona fide Holder of a Security or Securities of the applicable series Note 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 trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteeTrustee.
(bc) In case The Trustee may be removed at any time any by an Act of the following shall occurHolders of a majority in aggregate principal amount of the Outstanding Notes, delivered to the Trustee and to Holdings.
(d) If at any time:
(i1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act in accordance with respect to any series of Securities Section 6.08 hereof after written request therefor by the Issuer Holdings or by any Holder who has been a bona fide Holder of a Security or Securities of such series Note for at least six months; or;
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of under Section 310(a) of the Trust Indenture Act 6.09 hereof and shall fail to resign after written request therefor by the Issuer Holdings or by any HolderHolder who has been a bona fide Holder of a Note for at least six months; or
(iii3) 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 or rehabilitation, conservation or liquidation; liquidation then, in any such case, the Issuer (i) Holdings by a Board Resolution may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or (ii) subject to Section 5.14, the Holder of any Holder Note who has been a bona fide Holder of a Security or Securities of such series Note 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 with respect to such seriesTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(ce) The 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, Holdings, by a Board Resolution, shall promptly appoint a successor Trustee. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee shall be appointed by Act of the Holders of a majority in aggregate principal amount at maturity of the Securities of each series at the time Outstanding may at any timeNotes delivered to Holdings, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the successor Trustee and to supersede the Issuer successor Trustee appointed by Holdings. If no successor Trustee shall have been so appointed by Holdings or the evidence provided for in Section 6.01 Holders of the action Notes and accepted appointment in that regard taken by the Holdersmanner hereinafter provided, the Holder of any Note who has been a bona fide Holder for at least six months may, subject to Section 5.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee.
(df) Any Holdings shall use reasonable efforts to give notice of each resignation or and each removal of the Trustee with respect to any series and any each appointment of a successor Trustee with respect by mailing written notice of such event by first-class mail, postage prepaid, to such series pursuant to any the Holders of Notes as their names and addresses appear in the provisions Note Register. Each notice shall include the name of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12and the address of its Corporate Trust Office.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Telemundo Holding Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerIssuer and by mailing notice of such resignation to the Holders of then Outstanding Securities of each series affected at their addresses as they shall appear on the registry books. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may at the expense of the Issuer 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 4.125.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of TIA Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor therefore by the Issuer or by any Holder who has been a bona fide Holder of a Security or Securities of such series for at least six monthsSecurity; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.7 and shall fail to resign after written request therefor therefore by the Issuer or by any HolderSecurityholder; or
(iii) 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, receiver and manager 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; then, in any such case, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of TIA Section 315(e), any Holder 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, situated petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.9.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 as trustee by giving written notice of resignation to the IssuerIssuer 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. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition at the expense of the Issuer 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 for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeprescribed, appoint a successor trustee.
(ba) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act of 1939 with respect to any series of the Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act of 1939 and shall fail to resign after written request therefor by the Issuer or by any HolderSecurityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(cb) The Holders of a majority in aggregate principal Principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to the Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the HoldersSecurityholders.
(dc) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Cone Mills Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerCompany and by mailing written notice thereof by first-class mail, postage prepaid, to all Holders at their last addresses as they shall appear on the Register and to the CNV. Upon receiving such notice of resignation, the Issuer Company 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 DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 thirty (30) days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 4.126.12 hereof, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 7.8 hereof or Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.9 hereof and shall fail to resign after written request therefor by the Issuer Company or by any Holder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a to be bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 7.11 hereof, unless the Trustee’s duty to resign is stayed as provided herein, any Holder 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 trustee. If the Trustee has been removed and no successor trustee with respect shall have been so appointed within thirty (30) days after delivery of such instrument to such seriesthe Trustee so removed, the Trustee so removed 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 and prescribe, remove the Trustee and appoint a successor trustee.. Table of Contents
(c) The Holders holders of a the majority in aggregate principal amount of the Outstanding Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 of 8.1 hereof the action in that regard taken by the Holders.
(d) Any No resignation or removal of the Trustee with respect to any series and any no appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon until the acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11 hereof.
(e) Any successor Trustee appointed pursuant Each of the parties hereto shall provide to the CNV copies of all notices under this Section may be appointed 7.10 addressed to, or sent by, such party with respect to the Securities reorganization, removal or replacement of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular seriesTrustee.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, Trustee or any trustee or trustees successor hereafter appointed, appointed may at any time resign with respect to the Notes of one or more or all series of Securities by giving written notice thereof to the Company and by transmitting notice of resignation by mail, first-class postage prepaid, to the Issuerholders of Notes of that series, as their names and addresses appear upon the Note Register. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee or trustees with respect to the applicable Notes of that series by written instrument instrument, in duplicate, executed by authority order of the Board of DirectorsManagement Committee, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteetrustee with respect to Notes of that series, or any Holder holder of Notes of that series who has been a bona fide Holder holder of a Security Note or Securities of the applicable series Notes for at least six months may, subject to the provisions of Section 4.126.08, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(b) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 7.08 after written request therefor by the Issuer Company or by any Holder holder of Notes who has been a bona fide Holder holder of a Security Note or Securities of such series Notes for at least six months; or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holdersuch holders of Notes; or
(iii3) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, 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, the Issuer Company may remove the Trustee with respect to the applicable series of Securities all Notes and appoint a successor trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerManagement Committee, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 6.08, unless the Trustee’s duty to resign is stayed as provided herein, any Holder holder of Notes who has been a bona fide Holder holder of a Security Note or Securities of such series Notes 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 with respect to such seriestrustee. Such court may thereupon, thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. If a notice of removal shall have been delivered to the Trustee and no successor trustee shall have been appointed and have accepted appointment within 30 days after the Trustee’s receipt of such notice of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee.
(c) The Holders holders of a majority in aggregate principal amount of the Securities Notes of each any series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such that series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holderstrustee.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such the Notes of a series pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11.
(e) Any successor Trustee trustee appointed pursuant to this Section 7.10 may be appointed with respect to the Securities Notes of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities Notes of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerIssuer and by mailing notice thereof by first-class mail to Holders of Securities at their last addresses as they shall appear on the Securities Register. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteesTrustee. If no such successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee 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 for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem deemed proper and prescribe, appoint a successor trustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Trustee Indenture Act with respect to any series of Securities Act, after written request therefor thereafter by the 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;
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 hereof and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.;
Appears in 1 contract
Samples: Indenture (NRG Energy Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the Issuer. Upon receiving such notice of resignation, the 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, one copy of which each instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing giving of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Security holder 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 for the appointment of a successor trusteetrustee at the expense of the Issuer. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(b) In case If at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions pro visions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities TIA after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.7 and shall fail to resign after written request therefor by the Issuer or by any Holder; orSecurityholders;
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee 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 Issuer, 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 4.12, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.9.
(e) Any successor The Issuer shall give notice of each resigna tion and each removal of the Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.each appointment of
Appears in 1 contract
Samples: Indenture (American Tower Corp /Ma/)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerIssuer and by delivering notice of such resignation to the Holders of then Outstanding Securities of each series affected at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing delivery of such notice of resignation, the resigning Trustee trustee 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 or herself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act of 1939 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act of 1939 and shall fail to resign after written request therefor by the Issuer or by any HolderSecurityholder; or
(iii) 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, 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, (A) the Issuer may remove the Trustee 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 IssuerDirectors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, (B) subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder 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 itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and and, with the consent of the Issuer, appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.01 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Par Technology Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerIssuer and by delivering notice thereof 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 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing delivery of such notice of resignation, the resigning Trustee trustee 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 4.125.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee by written notice of at least 30 days in advance of the proposed effective date of such removal 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 5.12, any Holder 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 trustee 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. In addition, the Issuer may remove the Trustee with respect to Securities of any series without cause if the Issuer gives written notice to the Trustee of such proposed removal at least 30 days in advance of the proposed effective date of such removal.
(c) The Holders of a majority in aggregate principal amount of the Securities of one or more series (each series voting as a class) or of all series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such the applicable series or of all series, as the case may be, and appoint a successor Trustee trustee with respect to the Securities of such the applicable series with or of all series, as the consent of the Issuer case may be, by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 5.9, any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.9, on behalf of himself and all others similarly situated, petition any such court 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Senior Subordinated Indenture (Seagull Energy Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Notes by giving written notice of resignation to the IssuerCompany and by mailing notice thereof by first class mail to the Holders of Notes at their last addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Noteholder who has been a bona fide Holder of a Security or Securities of the applicable series Note for at least six months may, subject to the provisions of Section 4.127.11, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 7.08 with respect to any series of Securities Notes after written request therefor by the Issuer Company or by any Holder Noteholder who has been a bona fide Holder of a Security or Securities of such series Note for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.09 and shall fail to resign after written request therefor by the Issuer Company or by any HolderNoteholder; or
(iii) 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, 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, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 7.11, any Holder Noteholder who has been a bona fide Holder of a Security or Securities of such series 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 with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. If no successor trustee shall have been appointed and have accepted appointment within 30 days after a notice of removal has been given, the removed trustee may petition a court of competent jurisdiction for the appointment of a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series Notes at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 1.05 of the action in that regard taken by the HoldersNoteholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Veeco Instruments Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing giving of such notice of resignation, the resigning Trustee trustee 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities TIA after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.07 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, (1) the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.delivered
Appears in 1 contract
Samples: Convertible Subordinated Indenture (Chancellor Media Corp/)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerCompany and by mailing notice thereof by first-class mail to Holders of Notes at their last addresses as they shall appear on the Notes Register. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteesTrustee. If no such successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction jurisdiction, at the expense of the Company, for the appointment of a successor trustee, or any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of the applicable series Notes for at least six months may, subject to the provisions of Section 4.12, on behalf of himself itself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section TIA S 310(b) of the Trust Indenture Act with respect to any series of Securities ), after written request therefor thereafter by the Issuer Company or by any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of such series Notes for at least six months; or;
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act SECTION 5.8 hereof and shall fail to resign after written request therefor by the Issuer Company or by any Holdersuch Noteholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy of which shall be delivered to the successor trustee, or any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of such series Notes for at least six months may may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series Notes at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 SECTION 6.1 hereof of the action in that regard taken by the HoldersNoteholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 SECTION 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.12SECTION 5.10 hereof.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Debt Securities of any one or more or all series of Securities Series by giving not less than 60 days’ written notice of resignation to the IssuerProvince and by providing notice thereof to the affected Holders at the expense of the Province as provided in Paragraph 12 of the Terms of the affected Series. Upon receiving such notice of resignation, the Issuer Province shall promptly appoint a successor trustee or trustees with respect to the applicable series such Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee at the sole expense of the Province may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security or Securities of the applicable series 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 such court court, at the sole expense of the Province, for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Debt Securities of the affected Series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Province or by any Holder; or
(iiiii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Province may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Debt Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Debt Security or Securities of such series any affected 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 with respect to the Debt Securities of 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 trusteeSeries.
(c) The Holders of a majority Majority in aggregate principal amount Outstanding of the Debt Securities of each series at the time Outstanding any Series may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to trustee for the Debt Securities of such series with the consent of the Issuer Series by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Province the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 6.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.10.
(e) Any successor Trustee appointed pursuant In the case of any Series of Debt Securities proposed to this Section may be appointed with respect issued hereunder that are subject to the laws of a jurisdiction outside the United States or any other jurisdiction in which the Trustee generally acts as trustee thereunder, at the option of the Trustee or the Province, the Province will appoint a different trustee for such Series of Debt Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect prior to the authentication thereof. It is understood, for the avoidance of doubt, that any such Series of Debt Securities of any particular serieswill be governed by this Indenture.
Appears in 1 contract
Samples: Indenture
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 8.11.
(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 thereof to the IssuerCompany. Upon receiving such notice Such resignation shall take effect upon the appointment of resignation, the Issuer shall promptly appoint a successor trustee or trustees with respect to Trustee and the applicable series acceptance of such appointment by written such successor Trustee. If the instrument in duplicate, executed of acceptance by authority of the Board of Directors, one copy of which instrument a successor Trustee required by Section 8.11 shall be not have been delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing giving of such notice of resignationresignation or of any removal of the Trustee as hereinafter provided, the resigning or removed Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject Trustee with respect to the provisions of Section 4.12, on behalf of himself and all others similarly situated, petition any such court 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 trusteeSecurities.
(bc) In case The Trustee may be removed at any time for any cause or for no cause by an Act of the following shall occurHolders 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:
(i1) the Trustee shall fail to comply with the provisions of TIA Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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,
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of under Section 310(a) of the Trust Indenture Act 8.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holder; Holder who has been a bona fide Holder of a Security for at least six months, or
(iii3) 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 Issuer Company may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or (ii) subject to Section 7.14, the Holder of any Holder Security 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ce) The If the Trustee shall be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 8.11. If, within 60 days after such 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 aggregate principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee. Such successor trustee so ap- pointed shall forthwith upon its acceptance of each series at such appointment become the time Outstanding may at any timesuccessor trustee. 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, upon 30 days’ advance written notice, remove the Trustee with respect or the Holder of any Security who has been a bona fide Holder for at least six months may, subject to Securities Section 7.14, on behalf of such series himself and appoint all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holderstrustee.
(df) Any The Company shall give notice of each resignation or and each removal of the Trustee with respect to any series and any each appointment of a successor Trustee with respect trustee by mailing written notice of such event by first-class mail, postage prepaid, to such series pursuant to any the Holders of Securities as their names and addresses appear in the register of the provisions Registrar. Each notice shall include the name of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12trustee and the address of its Corporate Trust Office or agent hereunder.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Mylan Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerIssuers and by mailing notice thereof by first-class mail to holders of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Issuer Issuers shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument instrument, in duplicate, executed by authority of the Board of DirectorsDirectors of each Issuer, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 1939, after written request therefor by the an Issuer or by any Holder securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by the an Issuer or by any Holdersuch securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; : then, in any such case, the Issuer Issuers may remove the Trustee 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 each Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder securityholder who has been a bona fide Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Issuers the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the Holderssecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Debt Securities of any one or more or all series of Securities Series by giving not less than 90 days’ written notice of resignation to Jamaica and by providing notice thereof to the Issueraffected Holders at the expense of Jamaica as provided in paragraph 12 of the Terms of the affected Series. Upon receiving such notice of resignation, the Issuer Jamaica shall promptly appoint a successor trustee or trustees with respect to the applicable series such Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee may may, at the expense of Jamaica, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security or Securities of the applicable series 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 such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Debt Securities of the affected Series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by the Issuer or on behalf of Jamaica or by any Holder; or
(iiiii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Jamaica may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Debt Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Debt Security or Securities of such series any affected 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 with respect to the Debt Securities of 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 trusteeSeries.
(c) The Holders of a majority Majority in aggregate principal amount Outstanding of the Debt Securities of each series at the time Outstanding any Series may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to trustee for the Debt Securities of such series with the consent of the Issuer Series by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Jamaica the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: First Supplemental Indenture (Jamaica Government Of)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Debt Securities of any one or more or all series of Securities Series by giving not less than 120 days’ written notice of resignation to the IssuerRepublic and by providing notice thereof to the affected Holders at the expense of the Republic as provided in paragraph 11 of the Terms of the affected Series. Upon receiving such notice of resignation, the Issuer Republic shall promptly appoint a successor trustee or trustees with respect to the applicable series such Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 90 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee may may, at the expense of the Republic, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security or Securities of the applicable series 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 such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Debt Securities of the affected Series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) i. the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Republic or by any Holder; or
(iii) ii. the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Republic may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Debt Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Debt Security or Securities of such series any affected 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 with respect to the Debt Securities of 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 trusteeSeries.
(c) The Holders of a majority Majority in aggregate principal amount Outstanding of the Debt Securities of each series at the time Outstanding any Series may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to trustee for the Debt Securities of such series with the consent of the Issuer Series by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Republic the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant In the case of any Series of Debt Securities proposed to this Section may be appointed with respect issued hereunder that are subject to the laws of a jurisdiction outside of the United States, at the option of the Trustee or the Republic, the Republic will appoint a successor or co-trustee for such Series of Debt Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect prior to the authentication thereof. It is understood, for the avoidance of doubt, that any such Series of Debt Securities of any particular serieswill be governed by this Indenture.
Appears in 1 contract
Samples: Indenture (Uruguay Republic Of)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Securities of one or more or all series of Securities by giving written notice of resignation to the IssuerCompany and to the Holders of Securities 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 Issuer Company shall promptly appoint a successor trustee or trustees with respect to the applicable series Trustee by written instrument in duplicate, executed by authority of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteesTrustee. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or any Holder Securityholder of the affected series who has been a bona fide Holder holder of a Security or Securities of the applicable affected series for at least six months may, subject to the provisions of Section 4.12, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities Act, after written request therefor by the Issuer Company or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a as bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series Trustee by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or or, subject to Section 315(e) of the Trust Indenture Act, any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months may on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such seriesTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(c) The Holders of a majority in aggregate principal amount Principal Amount of the Securities of each any series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such for that series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 7.01 of the action in that regard taken by the HoldersSecurityholders. If no successor Trustee shall have been so appointed and have accepted appointment within 60 days after the mailing of such notice of removal, the Company may appoint a successor Trustee by written instrument, 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. If no successor Trustee shall have been so appointed and have accepted appointment within 90 days after the mailing of the initial notice of removal from the Holders of a majority in aggregate Principal Amount of the Securities of the affected series at the time outstanding, the Trustee being removed may petition, at the expense of the Company, 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to The Company shall give notice of each resignation and each removal of the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular seriesseries and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to 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 with respect to the Securities of such series and the address of its Corporate Trust Office.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.12Article Five, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the Issuer or 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; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or the Guarantor or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Article Five, any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer and the Guarantor the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Article Five, on behalf of himself and all others similarly situated, petition any such court 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may trustee may, at the expense of the Issuer, 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 4.125.9, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Holder 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.of
Appears in 1 contract
Samples: Senior Subordinated Indenture (Ocean Energy Inc /La/)
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 511.
(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 thereof to the IssuerCompany. Upon receiving such notice of resignation, the Issuer Company shall use its best efforts to promptly appoint a successor trustee Trustee by Board Resolution or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of DirectorsDirectors of the Company, one a copy of which instrument shall be delivered to the resigning Trustee and one a copy to the successor trustee or trusteesTrustee. If no an instrument of acceptance by a successor trustee Trustee shall not have been so appointed with respect delivered to any series and have accepted appointment the Trustee within 30 days after the mailing giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteemay, or any Holder 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 trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteeTrustee.
(bc) In case The Trustee may be removed at any time any by an Act of the following shall occurHolders 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:
(i1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of under Section 310(a) of the Trust Indenture Act 509 and shall fail to resign after written request therefor by the Issuer Company or by any such Holder; , or
(iii3) 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 Issuer Company by a Board Resolution may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or (ii) subject to Section 414, any Holder of any Security 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 trustee with respect to such seriesTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trusteeTrustee.
(ce) The 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 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 and shall comply with the applicable requirements of Section 511. If, within 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 shall be appointed by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect delivered to the Securities of such series with Company and the consent of the Issuer by delivering to the Trustee so removedretiring Trustee, to and the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the successor Trustee and to supersede the Issuer successor Trustee appointed by the evidence provided for in Section 6.01 Company. If no successor Trustee shall have been so appointed by the Company or the Holders of the action Securities and accepted appointment in that regard taken by the Holdersmanner hereinafter provided, any Holder of a Security who has been a bona fide Holder for at least six months may, subject to Section 414, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee.
(df) Any The Company shall give notice of each resignation or and each removal of the Trustee with respect to any series and any each appointment of a successor Trustee with respect by mailing written notice of such event by first-class mail, postage prepaid, to such series pursuant to any the Holders of Securities as their names and addresses appear in the provisions Security Register. Each notice shall include the name of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12and the address of its Corporate Trust Office or agent hereunder.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Playtex Products Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 upon 30 days written notice of resignation to the IssuerCompany and by mailing notice of such resignation to the Holders of then Outstanding Securities at their addresses as they shall appear on the registry books. Upon receiving such notice of resignation, the Issuer Company 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 DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 4.128.12, on behalf of himself itself and all others ------------ similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section TIA (S) 310(b) of the Trust Indenture Act with respect to any series of the Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.8 and TIA (S) 310(a) of the Trust Indenture Act and shall fail to ----------- resign after written request therefor by the Issuer Company or by any Holder; or
(iii) 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, 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, unless the Issuer Trustee's duty to resign has been stayed as provided pursuant to TIA (S) 310(b), the Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of TIA (S) 315(e), any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance days written notice, notice remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed appointed, and to the Issuer Company the evidence provided for in Section 6.01 9.1 of the action in that regard taken by the Holders.. -----------
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 8.9 ----------- shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.8.10. ------------
Appears in 1 contract
Samples: Indenture (New Millennium Homes LLC)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerCompany and by mailing notice thereof by first-class mail to Holders of Notes at their last addresses as they shall appear on the Notes Register. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteesTrustee. If no such successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction jurisdiction, at the expense of the Company, for the appointment of a successor trustee, or any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of the applicable series Notes for at least six months may, subject to the provisions of Section 4.12, on behalf of himself itself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section TIA (S) 310(b) of the Trust Indenture Act with respect to any series of Securities ), after written request therefor thereafter by the Issuer Company or by any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of such series Notes for at least six months; or;
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 hereof and shall fail to resign after written ----------- request therefor by the Issuer Company or by any Holdersuch Noteholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy of which shall be delivered to the successor trustee, or any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of such series Notes for at least six months may may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series Notes at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 6.1 ----------- hereof of the action in that regard taken by the HoldersNoteholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall ----------- become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.5.10 hereof. ------------
Appears in 1 contract
Samples: Indenture (Edison Mission Energy)
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 610 hereof.
(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 thereof to the IssuerCompany. Upon receiving such notice of resignation, the Issuer Company 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, one a copy of which instrument shall be delivered to the resigning resigning
(c) The Trustee may be removed at any time 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 one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 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 trusteeCompany.
(bd) In case If at any time any of the following shall occurtime:
(i1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of under Section 310(a) of the Trust Indenture Act 608 hereof and shall fail to resign after written request therefor by the Issuer Company or by any Holder; Holder who has been a bona fide Holder of a Security for at least six months, or
(iii3) 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 Issuer Company by a Board Resolution may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or (ii) subject to Section 511 hereof, the Holder of any Holder Security 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
(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. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor trustee shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the retiring Trustee, the 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 Holder of any Security who has been a bona fide Holder for at least six months may, subject to Section 511 hereof, 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 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.
(cf) The Holders of a majority in aggregate principal amount of the Securities Company shall give notice of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series resignation and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or each removal of the Trustee with respect to any series and any each appointment of a successor Trustee with respect trustee by mailing written notice of such event by first-class mail, postage prepaid, to such series pursuant to any the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the provisions successor trustee and the address of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12its Corporate Trust Office or agent hereunder.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Pioneer East 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 6.11.
(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 thereof to the IssuerCompany. Upon receiving such notice of resignation, the Issuer Company 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, one a copy of which instrument shall be delivered to the resigning Trustee and one a copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 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.
(b1) In case The Trustee may be removed at any time any by an Act of the following shall occurHolders of not less than a majority in aggregate principal amount of the Outstanding Securities, delivered to the Trustee and to the Company.
(c) If at any time:
(i1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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,
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of under Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer Company or by any Holder; Holder who has been a bona fide Holder of a Security for at least six months, or
(iii3) 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 Issuer Company by a Board Resolution may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or (ii) subject to Section 5.14, the Holder of any Holder Security 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(cd) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove If the Trustee with respect to Securities shall resign, be removed or become incapable of such series and 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 with respect to the Securities of such series trustee and shall comply with the consent applicable requirements of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders6.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerCompany. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of the applicable series Notes 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 1939, after written request therefor by the Issuer Company or by any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of such series Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.10 and shall fail to resign after written request therefor by the Issuer Company or by any Holdersuch Noteholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of such series Notes 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 with respect to such seriestrustee. Such court may thereuponthere- upon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series Notes at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 of the action in that regard taken by the Holdersapplicable Noteholders. If no successor trustee shall have been so appointed and have accepted appointment 30 days after the mailing of such notice of removal, the Trustee being removed may petition, at the expense of the Company, 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
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 8.11.
(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 thereof to the IssuerCompany. Upon receiving such notice Such resignation shall take effect upon the appointment of resignation, the Issuer shall promptly appoint a successor trustee or trustees with respect to Trustee and the applicable series acceptance of such appointment by written such successor Trustee. If the instrument in duplicate, executed of acceptance by authority of the Board of Directors, one copy of which instrument a successor Trustee required by Section 811 shall be not have been delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing giving of such notice of resignationresignation or of any removal of the Trustee as hereinafter provided, the resigning or removed Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject Trustee with respect to the provisions of Section 4.12, on behalf of himself and all others similarly situated, petition any such court 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 trusteeSecurities.
(bc) In case The Trustee may be removed at any time for any cause or for no cause by an Act of the following shall occurHolders 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:
(i1) the Trustee shall fail to comply with the provisions of TIA Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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,
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of under Section 310(a) of the Trust Indenture Act 8.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holder; Holder who has been a bona fide Holder of a Security for at least six months, or
(iii3) 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, 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 Issuer Company may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or (ii) subject to Section 7.14, the Holder of any Holder Security 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ce) The If the Trustee shall be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company shall promptly appoint a successor trustee and shall comply with the applicable requirements of Section 8.11. If, within 60 days after such 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 aggregate 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 each series such appointment become the successor trustee. 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 7.14, on behalf of himself and all others similarly situated, petition at the time Outstanding may at expense of the Company any time, upon 30 days’ advance written notice, remove court of competent jurisdiction for the Trustee with respect to Securities appointment of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holderstrustee.
(df) Any The Company shall give notice of each resignation or and each removal of the Trustee with respect to any series and any each appointment of a successor Trustee with respect trustee by mailing written notice of such event by first-class mail, postage prepaid, to such series pursuant to any the Holders of Securities as their names and addresses appear in the register of the provisions Registrar. Each notice shall include the name of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12trustee and the address of its Corporate Trust Office or agent hereunder.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Osi 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 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 thereof to the IssuerCompany. Upon receiving such notice of resignation, the Issuer Company 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, one a copy of which instrument shall be delivered to the resigning Trustee and one a copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 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.
(bc) In case The Trustee may be removed at any time any by an Act of the following shall occurHolders 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:
(i1) the Trustee shall fail to comply with the provisions of Trust Indenture Act Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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,
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of under Section 310(a) of the Trust Indenture Act 609 and shall fail to resign after written request therefor by the Issuer Company or by any Holder; Holder who has been a bona fide Holder of a Security for at least six months, or
(iii3) 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 Issuer Company by a Board Resolution may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or (ii) subject to Section 514, the Holder of any Holder Security 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(ce) The 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 an instrument of acceptance by a successor trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, or after such removal or incapacity, 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 a successor trustee. If, within 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 aggregate principal amount of the Outstanding Securities of each series at delivered to the time Outstanding may at any time, Company and the retiring Trustee. Such successor trustee so appointed shall forthwith upon 30 days’ advance written notice, remove the Trustee with respect to Securities its acceptance of such series appointment become the successor trustee and appoint 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 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 with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holderstrustee.
(df) Any The Company shall give notice of each resignation or and each removal of the Trustee with respect to any series and any each appointment of a successor Trustee with respect trustee by mailing written notice of such event by first-class mail, postage prepaid, to such series pursuant to any the Holders of Securities as their names and addresses appear in the Security Register. Each notice shall include the name of the provisions successor trustee and the address of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12its Corporate Trust Office or agent hereunder.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Buckeye Technologies Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerCompany and by mailing notice thereof by first-class mail to Holders of the Securities at their last addresses as they shall appear on the Security Register. Upon receiving such notice of resignation, the Issuer Company 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee 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 of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 4.126.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer Company or by any Holder Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six monthsmonths unless the Trustee's duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.9 and shall fail to resign after written request therefor by the Issuer Company or by any HolderSecurityholder; or
(iii) or the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, ; or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 6.12, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 8.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any No resignation or removal of the Trustee with respect to any series and any no appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon until acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerCompany. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee or trustees with respect to the applicable series Notes by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 of a Security Note or Securities of the applicable series Notes for at least six months may, subject to the provisions of Section 4.125.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities the Notes after written request therefor by the Issuer Company or by any Holder Securityholder who has been a bona fide Holder of a Security Note or Securities of such series Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 6.10 and Section 310(a) of the Trust Indenture Act and shall fail to resign after written request therefor by the Issuer Company or by any HolderSecurityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesthe Notes, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 315(e) of the Trust Indenture Act, any Holder Securityholder who has been a bona fide Holder of a Security Note or Securities of such series Notes 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 with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after such removal, the removed trustee may petition any court of competent jurisdiction for the appointment of a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series Notes at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 6.11 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Quadramed Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Debt Securities of any one or more or all series of Securities Series by giving not less than 90 days’ written notice of resignation to the IssuerRepublic and by providing notice thereof to the affected Holders at the expense of the Republic as provided in paragraph 11 of the Terms of the affected Series. Upon receiving such notice of resignation, the Issuer Republic shall promptly appoint a successor trustee or trustees with respect to the applicable series such Series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee may may, at the expense of the Republic, petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Debt Securities of the affected Series who has been a bona fide Holder of a Debt Security or Securities of the applicable series 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 such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Debt Securities of the affected Series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) i. the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Republic or by any Holder; or
(iii) ii. the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Republic may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Debt Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Debt Security or Securities of such series any affected 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 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Debt Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the HoldersSeries.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee 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 4.125.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act 6.8 with respect to any series of Securities after written request therefor by the Issuer or by any Holder Securityholder who has been a bona fide BONA FIDE Holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Article Five, any Holder Securityholder who has been a bona fide 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 trustee 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.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time then Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the delivery of such evidence of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a BONA FIDE Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.12, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.10 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerCompany and the Guarantor and by mailing notice thereof by first-class mail to Holders of the Securities at their last addresses as they shall appear on the Security Register. Upon receiving such notice of resignation, the Issuer Company 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 DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee 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 of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 4.126.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer Company, by 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 monthsmonths unless the Trustee's duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.9 and shall fail to resign after written request therefor by the Issuer Company, by the Guarantor or by any HolderSecurityholder; or
(iii) or the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, ; or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 6.12, any Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company and to the Guarantor the evidence provided for in Section 6.01 8.1 of the action in that regard taken by the HoldersSecurityholders.
(d) Any No resignation or removal of the Trustee with respect to any series and any no appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 7.10 shall become effective only upon until acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Indenture Trustee may at any time resign with respect to one or more or all series of Securities Notes by giving not less than 90 days' prior written notice of resignation to the IssuerIssuer and to the Holders of such Notes as provided in this Indenture. Upon receiving such notice of resignation, the Issuer shall promptly appoint cause a successor trustee or trustees with respect to the applicable series to be appointed by written instrument in duplicate, executed by authority of the Board of DirectorsIssuer, one copy of which instrument shall be delivered to the resigning Trustee trustee and one copy to the successor trustee or trusteesof such series. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing giving of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 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.
(b) In case If at any time any of the following shall occurtime:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a6.7(a) of the Trust or any applicable Supplemental Indenture Act and shall fail to resign after with respect to Notes of each applicable series pursuant to Section 6.7(b) or following written request therefor by the Issuer or by any Holder; orsuch Holder pursuant to Section 6.8(c);
(iiiii) the Indenture Trustee shall become incapable of acting with respect to any the applicable series of SecuritiesNotes, or shall be adjudged a as bankrupt or insolvent, or a receiver or liquidator of the Indenture Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Indenture Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; or
(iii) The Indenture Trustee shall fail to comply with the obligations imposed upon it under Section 310(b) of the Trust Indenture Act with respect to Notes of any series after written request therefor by the Issuer or any Holder of a Note of such series who has been a bona fide Holder of a Note of such series or at least six months; then, in any such case, except during the existence of an Event of Default, the Issuer may remove the Indenture Trustee with respect to the applicable series of Securities and appoint a successor trustee for such with respect to the applicable series of Notes by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, 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 Issuer under Sections 6.8(a) and 6.8(b), or respectively, any Holder who has been a bona fide Holder of a Security or Securities of such series Notes for at least six months may may, 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 with respect to such seriestrustee, 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.
(cd) The Holder or Holders of a majority in of the aggregate principal amount of the Securities Notes of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Indenture Trustee with respect to Securities the Notes of such series and appoint a successor Trustee trustee with respect to the Securities Notes of such series with the consent of the Issuer by delivering to the Indenture Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 8.1 of the action in that regard taken by the Holdersa Holder.
(de) Any resignation or removal of the Indenture Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.9.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series and be discharged of Securities the trusts created by this Indenture by giving written notice of resignation to the IssuerIssuer and by mailing notice of such resignation to the Holders of the then Outstanding Securities at their addresses as they shall appear on the Security registry books. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument instrument, in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 6.8 after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holder; or
(iii) 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, 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, the Issuer may remove the Trustee with respect to the applicable series Securities of Securities any or all series, as appropriate, and appoint a successor trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerDirectors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteetrustee or trustees, or or, subject to the provisions of Section 5.12, any Holder 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 such Holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 6.11. If no successor trustee shall have been so appointed with respect to any series and shall have accepted appointment within 30 days after the mailing of a notice of resignation or removal, the retiring trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 5.12, on behalf of such Holder and all others similarly situated, petition any such court 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.
(e) Any successor Except in the case of a default in the payment of the principal of or interest on any Security, or in the payment of any sinking or purchase fund installment, the Trustee appointed pursuant shall not be required to resign as provided by Section 6.8 if the Trustee shall have sustained the burden of proving, on application to the Commission and after opportunity for hearing thereon, that:
(i) the default under this Section Indenture may be appointed cured or waived during a reasonable period and under the procedures described in such application; and
(ii) a stay of the Trustee's duty to resign will not be inconsistent with respect to the Securities interests of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular seriesSecurityholders.
Appears in 1 contract
Samples: Indenture (CMS Energy Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series and be discharged of Securities the trusts created by this Indenture by giving written notice of resignation to the IssuerIssuer and by mailing notice of such resignation to the Holders of the then Outstanding Securities at their addresses as they shall appear on the Security registry books. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument instrument, in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and shall have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder of a Security or Securities of the applicable such series for at least six months may, subject to the provisions of Section 4.125.12, on behalf of himself and such Holxxx xxd all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 6.8 after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 6.9 and shall fail to resign after written request therefor by the Issuer or by any Holder; or
(iii) 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, 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, the Issuer may remove the Trustee with respect to the applicable series Securities of Securities any or all series, as appropriate, and appoint a successor trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerDirectors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteetrustee or trustees, or or, subject to the provisions of Section 5.12, any Holder 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 such Holxxx xxd all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.11.
(e) Any successor Except in the case of a default in the payment of the principal of or interest on any Security, or in the payment of any sinking or purchase fund installment, the Trustee appointed pursuant shall not be required to resign as provided by Section 6.8 if the Trustee shall have sustained the burden of proving, on application to the Commission and after opportunity for hearing thereon, that:
(i) the default under this Section Indenture may be appointed cured or waived during a reasonable period and under the procedures described in such application; and
(ii) a stay of the Trustee's duty to resign will not be inconsistent with respect to the Securities interests of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular seriesSecurityholders.
Appears in 1 contract
Samples: Indenture (CMS Energy Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time anytime resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerIssuer and by mailing written notice thereof by first-class mail, postage prepaid, to all Holders at their last addresses as they shall appear on the Security Register specifying the day upon which the resignation is to take effect, and such resignation will take effect immediately upon the later of the appointment of a successor trustee pursuant to this Article Eight and such specified day. Upon receiving such notice of resignation, the Issuer Issuer, by a Management Committee's Consent, shall promptly appoint a successor trustee or trustees with respect to satisfying the applicable series requirements of Section 808 by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 thirty (30) days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder who has been a bona fide Holder of a Security Note or Securities of the applicable series Notes for at least six (6) months may, subject to the provisions of Section 4.12, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the 809 and Trust Indenture Act with respect to any series of Securities Section 310(b) after written request therefor by the Issuer or by any Holder who has been a bona fide Holder of a Security or Securities of such series for at least six (6) months, except when the Trustee's duty to resign is stayed in accordance with the provisions of Trust Indenture Act Section 310(b); or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 808 and shall fail to resign after written request therefor by the Issuer or by any HolderHolder who has been a bona fide Holder for at least six (6) months; or
(iii) 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, 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, the Issuer may may, by Management Committee's Consent, remove the Trustee 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 IssuerMembers, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 811, unless the Trustee's duty to resign is stayed as provided herein, any Holder who has been a bona fide Holder of a Security or Securities of such series for at least six (6) 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.
(c) 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 Issuer, by a Management Committee's Consent, shall promptly appoint a successor trustee satisfying the requirements of Section 808. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor trustee shall be appointed by an Act of the Majority Holders of either Series of the Notes delivered to the Issuer and the retiring Trustee, the successor trustee so appointed shall, forthwith upon its acceptance of such appointment, become the successor trustee with respect to such seriesSeries of the Notes and to that extent supersede the successor trustee appointed by the Issuer. Such If no successor trustee shall have been so appointed by the Issuer or the Holders and accepted appointment in the manner hereinafter provided within 60 days, any Holder who has been a bona fide Holder for at least six (6) months may, on behalf of himself and all others similarly situated, petition any court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove of competent jurisdiction for the Trustee and appoint appointment of a successor trustee.
(cd) It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as an indenture trustee in such jurisdiction.
(e) The Issuer shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee in the manner provided for in Section 106. Each notice shall include the name of the successor trustee and the address of its Corporate Trust Office.
(f) The Holders, by Act of the Majority Holders of a majority in aggregate principal amount either Series of the Securities of each series at the time Outstanding Notes, may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities such Series of such series the Notes and appoint a successor Trustee trustee with respect to the Securities of such series with the consent Series of the Issuer Notes by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 104 of the action in that regard taken by the HoldersMajority Holders of such Series of the Notes.
(dg) Any No resignation or removal of the Trustee with respect to any series and any no appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 810 shall become effective only upon until the acceptance of appointment by the successor Trustee trustee as provided in Section 5.12811.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Calpine Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, Trustee or any trustee or trustees successor hereafter appointed, appointed may at any time resign with respect to the Notes of one or more or all series of Securities by giving written notice of resignation thereof to the IssuerCompany. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee or trustees with respect to the applicable Notes of that series by written instrument instrument, in duplicate, executed by authority order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trusteetrustee with respect to Notes of that series, or any Holder Noteholder of that series who has been a bona fide Holder holder of a Security Note or Securities of the applicable series Notes for at least six months may, subject to the provisions of Section 4.126.08, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(b) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 7.08 after written request therefor by the Issuer Company or by any Holder Noteholder who has been a bona fide Holder holder of a Security Note or Securities of such series Notes for at least six months; or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 7.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holdersuch Noteholder; or
(iii3) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, 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, the Issuer Company may remove the Trustee with respect to the applicable series of Securities all Notes and appoint a successor trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors of the IssuerDirectors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 6.08, unless the Trustee's duty to resign is stayed as provided herein, any Holder Noteholder who has been a bona fide Holder holder of a Security Note or Securities of such series Notes 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 with respect to such seriestrustee. Such court may thereupon, thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. If a notice of removal shall have been delivered to the Trustee and no successor trustee shall have been appointed and have accepted appointment within 30 days after the Trustee's receipt of such notice of removal, the Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee.
(c) The Holders holders of a majority in aggregate principal amount of the Securities Notes of each any series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such that series and appoint a successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the removal of the Trustee, the removed 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 Notes of such that series, or any Noteholder of that series with the consent who has been a bona fide holder of the Issuer by delivering a Note or Notes for at least six months may, subject to the Trustee so removedprovisions of Section 6.08, to on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor Trustee so appointed trustee. Such court may thereupon after such notice, if any, as it may deem proper and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holdersprescribe, appoint a successor trustee.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such the Notes of a series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.127.11.
(e) Any successor Trustee trustee appointed pursuant to this Section may be appointed with respect to the Securities Notes of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities Notes of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerIssuer and by mailing notice thereof by first-class mail to holders of Securities at their last addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignation, the resigning trustee, the Issuer, the resigning Trustee or the Holders of at least ten percent in aggregate principal amount at maturity of the Securities may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 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.
(b) . In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 1939, after written request therefor by the Issuer or by any Holder Securityholder who has been a bona fide Holder holder of a Security or Securities of such series for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by the Issuer or by any Holdersuch Securityholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder Securityholder who has been a bona fide Holder 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 trustee with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(cb) The Holders holders of a majority in aggregate principal amount at maturity of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the HoldersSecurityholders.
(dc) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Weirton Steel Corp)
Resignation and Removal; Appointment of Successor Trustee. (a) 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 Issuer. Upon receiving such notice of resignation, the 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, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing sending of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction at the expense of the Issuer 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 4.125.12, on behalf of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer or by any Holder who has been a bona fide Holder of a Security or Securities of such series for at least six monthsSecurityholder; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 6.10 and Section 310(a) of the Trust Indenture Act and shall fail to resign after written request therefor by the Issuer or by any HolderSecurityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months; or
(iii) 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, 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, the Issuer may remove the Trustee 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 Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to the provisions of Section 315(e) of the Trust Indenture Act, any Holder 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 trustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and so prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 7.1 of the action in that regard taken by the HoldersSecurityholders by notice in writing not less than 30 days prior to the effective date of such removal.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee trustee with respect to such series pursuant to any of the provisions of this Section 5.11 6.11 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.126.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (PayPal Holdings, Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerCompany. Upon receiving such notice of resignation, the Issuer 105 111 Company 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, one copy of which instrument shall be delivered to the resigning Trustee trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of the applicable series Notes 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 1939, after written request therefor by the Issuer Company or by any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of such series Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.09 and shall fail to resign after written request therefor by the Issuer Company or by any Holdersuch Noteholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Company may remove the Trustee 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 IssuerCompany, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder Noteholder who has been a bona fide Holder of a Security Note or Securities of such series Notes 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 with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities either series of each series Notes at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Company the evidence provided for in Section 6.01 of the action in that regard taken by the Holdersapplicable Noteholders. If no successor trustee shall have been so appointed and have accepted appointment 30 days after the mailing of such notice of removal, the Trustee being removed may petition, at the expense of the Company, 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.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.11.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) The Trusteeresignation Grantors shall, by the vote, at a meeting or any trustee or trustees hereafter appointedby proxy, may at any time resign with respect to one or more or all series of Securities Grantors holding a majority of the outstanding First Series Preference Shares held by giving written notice of resignation to the Issuer. Upon receiving such notice of resignationGrantors, the Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument instrument, in duplicate, executed by authority of the Board of Directorstriplicate, one copy of which instrument shall be delivered to the resigning Trustee and Trustee, one copy to the successor trustee or trusteesand one copy to CRC. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing giving of such notice of resignation, the resigning Trustee or any Grantor may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder 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 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer this Agreement 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
(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 Holder; or
(iii) if the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt file for bankruptcy or become insolvent, or a if receiver or liquidator of the Trustee or of its property shall be appointed, or if any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitationaffairs, conservation or liquidation; then, then and in any such casecase the Grantors may by the vote, at a meeting or by proxy, of Grantors holding a majority of the Issuer may outstanding First Series Preference Shares held by the Grantors remove the Trustee 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 Issuertriplicate, one copy of which instrument shall be delivered to the Trustee so removed and removed, one copy to the successor trustee, or any Holder 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 trustee and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect one copy 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 trusteeCRC.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may at any time, upon 30 days’ advance written notice, remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 trustee shall become effective only upon the acceptance in writing of the appointment by the successor Trustee as provided in Section 5.12trustee and the agreement by such successor trustee to the terms and provisions of this Agreement.
(ed) Any Upon the appointment and acceptance of a successor trustee, the Trustee appointed pursuant shall promptly assign and transfer to this Section may be appointed with respect such successor trustee, subject to the Securities provisions of one Section 5.04 hereof, all shares of stock and other assets held in the CRC Trust II and shall deliver to such successor trustee a certified list of all the Grantors together with any other assets or more series or all of such series, and at any time there shall be only one Trustee with respect to property held in the Securities of any particular seriesCRC Trust II.
Appears in 1 contract
Resignation and Removal; Appointment of Successor Trustee. (a) 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 IssuerIssuer and by transmitting or mailing notice thereof by first-class mail, postage prepaid, to Holders of the applicable series of Securities at their last addresses as they shall appear on the Register; provided that notices given to Holders of Global Securities may be given through the facilities of the Depositary. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee Trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee Trustee or trustees. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the transmittal or mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or any Holder 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 4.124.13, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(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 Holder; or
(iii) 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, 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, the Issuer may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee Trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or any Holder 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 trustee Trustee 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 trusteeTrustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each a series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided for in Section 6.01 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series pursuant to any of the provisions of this Section 5.11 shall become effective only upon acceptance of appointment by the successor Trustee as provided in Section 5.12.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Everett SpinCo, Inc.)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the IssuerIssuer and by mailing notice thereof by first-class mail to Holders of Senior Notes at their last addresses as they shall appear on the Senior Note register. Upon receiving such notice of resignation, the 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 their respective Boards of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder Senior Noteholder who has been a bona fide Holder of a Security Senior Note or Securities of the applicable series Senior Notes for at least six months may, subject to the provisions of Section 4.12, on behalf be-half of himself and all others similarly situated, petition any such court 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.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities 1939, after written request therefor by the Issuer Issuer, any Guarantor or by any Holder Senior Noteholder who has been a bona fide Holder of a Security Senior Note or Securities of such series Senior Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act and 5.8 And shall fail to resign after written request therefor by the Issuer Issuer, any Guarantor or by any Holdersuch Senior Noteholder; or
(iii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer may remove the Trustee 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 its Boards of Directors of the IssuerDirectors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, subject to Section 315(e) of the Trust Indenture Act of 1939, any Holder Senior Noteholder who has been a bona fide Holder of a Security Senior Note or Securities of such series Senior Notes 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 with respect to such seriestrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.
(c) The Holders of a majority in aggregate principal amount of the Securities of each series Senior Notes at the time Outstanding outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series with the consent of the Issuer trustee by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the HoldersSenior Noteholders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture (Triarc Companies Inc)
Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Bonds of one or more or all series of Securities by giving not less than 90 days’ written notice of resignation to the IssuerRepublic and by providing notice thereof to the affected Holders at the expense of the Republic as provided in Article Ten. Upon receiving such notice of resignation, the Issuer Republic shall promptly appoint a successor trustee or trustees with respect to the applicable such series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignationresignation has been given, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Holder of Bonds of the affected series who has been a bona fide Holder of a Security or Securities Bond of the applicable 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 such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, appoint a successor trusteetrustee with respect to the Bonds of the affected series.
(b) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any series of Securities after written request therefor by the Issuer 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
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act 5.8 and shall fail to resign after written request therefor by or on behalf of the Issuer Republic or by any Holder; or
(iiiii) the Trustee shall become incapable of acting with respect to any series of Securitiesacting, or shall be adjudged a bankrupt or insolvent, or 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; then, in any such case, the Issuer Republic may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series with respect to all affected Bonds by written instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which such instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or or, any Holder who has been a bona fide Holder of a Security or Securities Bond of such any affected 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 with respect to the Bonds of 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.
(c) The Holders of a majority Majority in aggregate principal amount Outstanding of the Securities Bonds of each any series at the time Outstanding may at any time, upon 30 days’ advance written notice, time remove the Trustee with respect to Securities of such series and appoint a successor Trustee with respect to trustee for the Securities Bonds of such series with the consent of the Issuer by delivering to the Trustee so removed, to the successor Trustee trustee so appointed and to the Issuer Republic the evidence provided for in Section 6.01 6.1 of the action in that regard taken by the Holders.
(d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor Trustee with respect to such series trustee pursuant to any of the provisions of this Section 5.11 5.9 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 5.125.10.
(e) Any successor Trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.
Appears in 1 contract
Samples: Indenture
