Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. If at any time: (1) the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or (2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or (3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7. 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 53 contracts
Samples: Indenture (Axos Financial, Inc.), Indenture (Axos Financial, Inc.), Indenture (Fat Brands, Inc)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, 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 of such seriesTrustee. If at any time:
(1a) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2b) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A1) the Company by a Board Resolution may remove the Trustee with respect to all SecuritiesSecurities of which such Trustee acts as trustee, or (B2) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities of which such Trustee acts as trustee and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionor the Trustee may, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 38 contracts
Samples: Subordinated Indenture (Eplus Inc), Indenture (Eplus Inc), Subordinated Indenture (Pioneer Energy Services Corp)
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with the applicable requirements of pursuant to Section 6.11. 609.
(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 609 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(4) If at any time:
(1a) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company or by any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or
(2b) the Trustee shall cease to be eligible under Section 6.9 607 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Company, by or pursuant to a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by or pursuant to a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11609. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11609, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.11609, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(6) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Registered Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of Payment located outside the manner provided in Section 1.7United States. 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 25 contracts
Samples: Indenture (KKR Financial Holdings LLC), Indenture (KKR Financial Holdings IV, LLC), Indenture (KKR Financial Holdings IV, LLC)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such a notice of removalremoval pursuant to this paragraph, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 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. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 20 contracts
Samples: Indenture (Laredo Midstream Services, LLC), Indenture (Burleson Water Resources, LLC), Indenture (SN Cotulla Assets, LLC)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, 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 of such seriesTrustee. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by Company, acting pursuant to the authority of a Board Resolution Resolution, may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 18 contracts
Samples: Indenture (Central Valley Community Bancorp), Indenture (Central Valley Community Bancorp), Indenture (Bridge Bancorp Inc)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(d) If at any time:
(1i) the Trustee shall fail to comply with Section 6.8 310(b) of the Trust Indenture Act after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, ; or
(2ii) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, Holder of a Security who has been a bona fide Holder of a Security for at least six months; or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyCompany with respect to such Securities. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee 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 manner provided in Section 1.7Security 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 18 contracts
Samples: Subordinated Debt Indenture (Interline Brands, Inc./De), Subordinated Debt Indenture (Interline Brands, Inc./De), Subordinated Debt Indenture (Interline Brands, Inc./De)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee Purchase Contract Agent and no appointment of a successor Trustee Purchase Contract Agent pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee Purchase Contract Agent in accordance with the applicable requirements of Section 6.11. 7.10.
(b) The Trustee Purchase Contract Agent may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyCompany 60 days prior to the effective date of such resignation. If the instrument of acceptance by a successor Trustee Purchase Contract Agent required by Section 6.11 7.10 shall not have been delivered to the Trustee Purchase Contract Agent within 30 days after the giving of such notice of resignation, the resigning Trustee Purchase Contract Agent may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Purchase Contract Agent.
(c) The Trustee Purchase Contract Agent may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount number of the Outstanding Securities of such series, Units delivered to the Trustee Purchase Contract Agent and to the Company. If the instrument of acceptance by a successor Trustee Purchase Contract Agent required by Section 6.11 7.10 shall not have been delivered to the removed Trustee Purchase Contract Agent within 30 days after the receipt of such notice of removalAct, the Purchase Contract Agent being 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 of such series. Purchase Contract Agent.
(d) If at any time:
(1i) the Trustee shall fail Purchase Contract Agent fails to comply with Section 6.8 310(b) of the TIA, as if the Purchase Contract Agent were an indenture trustee under an indenture qualified under the TIA, and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Unit for at least six months, or;
(2ii) the Trustee Purchase Contract Agent shall cease to be eligible under Section 6.9 7.08 and shall fail to resign after written request therefor by the Company or by any such Holder, ; or
(3iii) the Trustee Purchase Contract Agent shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee Purchase Contract Agent or of its property shall be appointed or any public officer shall take charge or control of the Trustee Purchase Contract Agent or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all SecuritiesPurchase Contract Agent, or (Bii) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security Unit for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities Purchase Contract Agent and the appointment of a successor Trustee or Trustees. Purchase Contract Agent.
(e) If the Trustee Purchase Contract Agent shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee Purchase Contract Agent for any cause, with respect to the Securities of one or more seriesCompany, the Company by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series Purchase Contract Agent and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company7.10. If no successor Trustee with respect to the Securities of any series Purchase Contract Agent shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.117.10, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series Unit for at least six months may petitionmonths, on behalf of himself itself and all others similarly situated, or the Purchase Contract Agent 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. Purchase Contract Agent.
(f) The Company shall give give, or shall cause such successor Purchase Contract Agent to give, notice of each resignation and each removal of the Trustee with respect to the Securities of any series Purchase Contract Agent and each appointment of a successor Trustee with respect to the Securities Purchase Contract Agent by mailing written notice of any series such event by first-class mail, postage prepaid, to all Holders of Securities of such series as their names and addresses appear in the manner provided in Section 1.7applicable Security Register. Each notice shall include the name of the successor Trustee with respect to the Securities of such series Purchase Contract Agent and the address of its Corporate Trust Office.
Appears in 17 contracts
Samples: Purchase Contract and Pledge Agreement (PPL Corp), Purchase Contract and Pledge Agreement (PPL Corp), Purchase Contract and Pledge Agreement (Genworth Financial Inc)
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with the applicable requirements of Section 6.11. 6.10.
(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.10 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(3) The Trustee may be removed at any time with respect to the Securities of any series by an Act of the Holders of a majority in principal amount of the Outstanding Securities of such seriesSecurities, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.10 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, 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 of such series. Trustee.
(4) If at any time:
(1i) the Trustee shall cease to be eligible under Section 6.8 and shall fail to comply with Section 6.8 resign after written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3ii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, case (Ai) the Company by a Board Resolution may remove the Trustee with respect to all SecuritiesTrustee, or (Bii) subject to Section 5.14, any Holder of a Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Trustee.
(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more seriesCompany, the Company by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of this Section 6.11and Section 6.10. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.116.10, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by this Section 6.11and Section 6.10, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. Trustee.
(6) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7. 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 Office1.
Appears in 14 contracts
Samples: Indenture (Mercury Interactive Corporation), Indenture (Exodus Communications Inc), Indenture (Bea Systems Inc)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. 610.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 610 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of such seriesSecurities, delivered to the Trustee and to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 610 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the removed Trustee designated for removal may petition petition, at the expense of the Company Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of TIA Section 6.8 310(b) after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 608(a) and shall fail to resign after written request therefor by the Company Issuer or by any such HolderHolder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Issuer, by a Board Resolution Resolution, may remove the Trustee with respect to all Securities, or (Bii) subject to TIA Section 5.143.15(e), 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more seriesIssuer, the Company by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to Trustee. If the Securities of that or those series (it being understood that any such Issuer does not promptly appoint a successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 aggregate principal amount of the Outstanding Securities of such series delivered to the Company Issuer and the retiring Trustee. In either case, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyIssuer. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Issuer or the Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. Trustee.
(f) The Company Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided for in Section 1.7106. 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.
(g) The retiring Trustee shall not be liable for any of the acts or omissions of any successor Trustee appointed hereunder.
Appears in 12 contracts
Samples: Indenture (Level 3 Communications Inc), Indenture (Level 3 Communications Inc), Indenture (Level 3 Communications Inc)
Resignation and Removal; Appointment of Successor. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11611. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition Trustee, at the expense of the Company Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, upon written notice delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the removed Trustee may petition being removed, at the expense of the Company Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, Securities or (B) subject to Section 5.14513, Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security such Securities for at least six months may, on behalf of himself themselves and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, If a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security Securities of such series for at least six months may petitionmay, on behalf of himself themselves 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 11 contracts
Samples: Indenture (AppLovin Corp), Indenture (Apple Inc.), Indenture (Cisco Systems, Inc.)
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with the applicable requirements of pursuant to Section 6.11. 6.9.
(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.9 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(4) If at any time:
(1a) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company or by any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or
(2b) the Trustee shall cease to be eligible under Section 6.9 6.7 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Company, by or pursuant to a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by or pursuant to a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those such series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.116.9. If, within one year after such resignation, removal or incapabilityincapacity, 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.116.9, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.116.9, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(6) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Registered Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of Payment located outside the manner provided in Section 1.7United States. 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.
(7) In no event shall any retiring Trustee be liable for the acts or omissions of any successor Trustee hereunder.
Appears in 11 contracts
Samples: Indenture (Nordstrom Inc), Indenture (RAM Holdings Ltd.), Indenture (Nordstrom Inc)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee of any Trust pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of under Section 6.11. 7.10.
(b) The Trustee may resign at any time with respect to the Securities as Trustee of one any or more series all Trusts by giving prior written notice thereof to the Company, the Authorized Agents, the related Owner Trustees and the related Loan Trustees. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Company, the related Owner Trustees and the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act Direction of the Holders Certificateholders of the related series holding Certificates evidencing Fractional Undivided Interests aggregating not less than a majority in principal amount of the Outstanding Securities of interest in such series, Trust delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, the removed Trustee may petition at related Owner Trustees and 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. related Loan Trustees.
(d) If at any timetime in respect of any Trust:
(1) the Trustee shall fail to comply with Section 6.8 310 of the Trust Indenture Act, if applicable, after written request therefor by the Company or by any Holder Certificateholder who has been a bona fide Holder of a Security Certificateholder for at least six months, ; or
(2) the Trustee shall cease to be eligible under Section 6.9 7.08 and shall fail to resign after written request therefor by the Company or by any such Holder, Certificateholder; or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14, any Holder Certificateholder of the related series who has been a bona fide Holder Certificateholder for at least six months may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a Security successor Trustee of such Trust.
(e) If a Responsible Officer of the Trustee shall obtain actual knowledge of an Avoidable Tax (as defined below) in respect of any Trust which has been or is likely to be asserted, the Trustee shall promptly notify the Company and shall, within 30 days of such notification, resign as Trustee of such Trust hereunder unless within such 30-day period the Trustee shall have received notice that the Company has agreed to pay such tax. The Company shall promptly appoint a successor Trustee of such Trust in a jurisdiction where there are no Avoidable Taxes. As used herein, an “Avoidable Tax” in respect of such Trust means a state or local tax: (i) upon (w) such Trust, (x) such Trust Property, (y) Certificateholders of such Trust or (z) the Trustee for which the Trustee is entitled to seek reimbursement from the Trust Property of such Trust, and (ii) which would be avoided if the Trustee were located in another state, or jurisdiction within a state, within the United States of America. A tax shall not be an Avoidable Tax in respect of any Trust if the Company or any Owner Trustee shall agree to pay, and shall pay, such tax.
(f) If the Trustee shall resign, be removed or become incapable of acting as Trustee of any Trust or if a vacancy shall occur in the office of the Trustee of any Trust for any cause, the Company shall promptly appoint a successor Trustee of such Trust. If, within one year after such resignation, removal or incapability, or other occurrence of such vacancy, a successor Trustee of such Trust shall be appointed by Direction of the Certificateholders of the related series holding Certificates of such series evidencing Fractional Undivided Interests aggregating not less than a majority in interest in such Trust delivered to the Company, the related Owner Trustees, the related Loan Trustee and the retiring Trustee, then the successor Trustee of such Trust so appointed shall, with the approval of the Company of such appointment, which approval shall not be unreasonably withheld, forthwith upon its acceptance of such appointment, become the successor Trustee of such Trust and supersede the successor Trustee of such Trust appointed as provided above. If no successor Trustee shall have been so appointed as provided above and accepted appointment in the manner hereinafter provided, the resigning Trustee or any Certificateholder who has been a bona fide Certificateholder of the related 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 Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a such Trust.
(g) The successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company Trust shall give notice of each the resignation and each removal of the Trustee with respect and appointment of the successor Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Securities Certificateholders of any the related series as their names and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series addresses appear in the manner provided in Section 1.7Register. Each notice shall include the name of the such successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.
Appears in 10 contracts
Samples: Pass Through Trust Agreement, Pass Through Trust Agreement (Spirit Airlines, Inc.), Pass Through Trust Agreement (Spirit Airlines, Inc.)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of under Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, the Trustee being 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 of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by Company, acting pursuant to the authority of a Board Resolution Resolution, may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, cause with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Securities of such series as their names and addresses appear in the manner provided in Section 1.7Securities 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 10 contracts
Samples: Senior Indenture (First American Financial Corp), Junior Subordinated Indenture (First American Financial Corp), Indenture (First Security Capital V)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article 6 shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. 6.10.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.10 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of such seriesSecurities, delivered to the Trustee and to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.10 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the removed Trustee designated for removal may petition petition, at the expense of the Company Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(d) If at any time:
(1i) the Trustee shall cease to be eligible under Section 6.08 and shall fail to comply with Section 6.8 resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3ii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Issuer, by a Board Resolution (or by a resolution of a duly authorized committee of the Board of Directors of the Issuer), may remove the Trustee with respect to or (ii) the Holders of at least 10% in aggregate principal amount of the then Outstanding Securities who have been bona fide Holders of a Security for at least six months may, on behalf of themselves and all Securitiesothers similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or (B) subject if a vacancy shall occur in the office of Trustee for any cause, the Issuer, by a Board Resolution, shall promptly appoint a successor Trustee. If the Issuer does not promptly appoint a successor Trustee 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 delivered to Section 5.14the Issuer and the retiring Trustee. In either case, 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 shall have been so appointed by the Issuer or the Holders and accepted appointment in the manner hereinafter provided, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series Trustee.
(it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular seriesf) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided for in Section 1.71.06. 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.
(g) The retiring Trustee shall not be liable for any of the acts or omissions of any successor Trustee appointed hereunder.
Appears in 9 contracts
Samples: Indenture (Qwest Corp), Indenture (Qwest Corp), Third Supplemental Indenture (Qwest Corp)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyCorporation. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company Corporation any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the CompanyCorporation. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, the removed Trustee may petition at the expense of the Company Corporation any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the The Trustee shall fail to comply with Section 6.8 after written request therefor by the Company Corporation or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the The Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company Corporation or by any such Holder, or
(3) the The Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company Corporation by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Corporation by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company Corporation and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyCorporation. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Corporation or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company Corporation shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7. 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 9 contracts
Samples: Indenture (FNB Corp/Pa/), Indenture (FNB Corp/Fl/), Indenture (FNB Corp/Fl/)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee pursuant to this Article shall VIII will become effective until the acceptance of appointment by the successor Indenture Trustee in accordance with the applicable requirements of under Section 6.11. 8.11.
(b) The Indenture Trustee may resign with respect to any Series, Class or Tranche of Notes at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the an instrument of acceptance by a successor Indenture Trustee required by Section 6.11 shall not have been delivered to the Indenture Trustee within 30 days after the giving of such notice of resignation, the resigning Indenture Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Indenture Trustee.
(c) The Indenture Trustee may be removed with respect to any Series, Class or Tranche of Notes at any time with respect to the Securities of any series by Act Action of the Majority Holders of a majority in principal amount of the Outstanding Securities of such seriesthat Series, Class or Tranche, delivered to the Indenture Trustee and to the CompanyIssuer. If the an instrument of acceptance by a successor Indenture Trustee required by Section 6.11 shall not have been delivered to the removed Indenture Trustee within 30 days after the receipt giving of such notice of removal, the Indenture Trustee being 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 of such series. Indenture Trustee.
(d) If at any time:
(1i) the Indenture Trustee shall fail fails to comply with Section 6.8 310(b) of the Trust Indenture Act with respect to any Series, Class or Tranche of Notes after written request therefor by the Company Issuer or by any Holder Noteholder who has been a bona fide Holder of a Security Note of that Series, Class or Tranche for at least six 6 months, or
(2ii) the Indenture Trustee shall cease ceases to be eligible under Section 6.9 8.09 with respect to any Series, Class or Tranche of Notes and shall fail fails to resign after written request therefor by the Company Issuer or by any such HolderNoteholder, or
(3iii) the Indenture Trustee shall become becomes incapable of acting with respect to any Series, Class or shall be Tranche of Notes, or
(iv) the Indenture Trustee is adjudged a bankrupt or insolvent or a receiver of the Indenture Trustee or of its property shall be is appointed or any public officer shall take takes charge or control of the Indenture Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution Issuer may remove the Trustee Indenture Trustee, with respect to the Series, Class or Tranche, or in the case of clause (iv), with respect to all SecuritiesSeries, Classes or Tranches, or (B) subject to Section 5.147.17, any Holder Noteholder who has been a bona fide Holder of a Security Note of such Series, Class and Tranche for at least six 6 months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Indenture Trustee with respect to all Securities such Series, Class or Tranche and the appointment of a successor Indenture Trustee with respect to the Series, Class or Trustees. Tranche, or, in the case of clause (iv), with respect to all Series, Classes and Tranches.
(e) If the Indenture Trustee shall resignresigns, be is removed or become becomes incapable of actingacting with respect to any Series, Class or Tranche of Notes, or if a vacancy shall occur in the office of the Indenture Trustee with respect to any Series, Class or Tranche of Notes for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall Issuer will promptly appoint a successor Indenture Trustee for that Series, Class or Trustees with respect to the Securities Tranche of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Notes. If, within one year after such resignation, removal or incapabilityincapacity, or the occurrence of such vacancy, a successor Indenture Trustee with respect to the Securities such Series, Class or Tranche of any series shall be Notes is appointed by Act of the Majority Holders of a majority in principal amount of the Outstanding Securities of such series Series, Class or Tranche delivered to the Company Issuer and the retiring Indenture Trustee, the successor Indenture Trustee so appointed shallwill, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Indenture Trustee with respect to the Securities of such series Series, Class or Tranche and to that extent supersede the successor Indenture Trustee appointed by the CompanyIssuer with respect to such Series, Class or Tranche of Notes. If no successor Indenture Trustee with respect to the Securities such Series, Class or Tranche of any series Notes shall have been so appointed by the Company Issuer or the Holders Noteholders of such Series, Class or Tranche and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder Noteholder who has been a bona fide Holder of a Security Note of such series Series, Class or Tranche for at least six 6 months may petitionmay, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Indenture Trustee with respect to the Securities such Series, Class or Tranche of such series. Notes.
(f) The Company shall Issuer will give written notice of each resignation and each removal of the Indenture Trustee with respect to the Securities any Series, Class or Tranche of any series Notes and each appointment of a successor Indenture Trustee with respect to the Securities of any series Series, Class or Tranche to all Holders of Securities of such series in the manner each Noteholder as provided in Section 1.71.06 and to each Note Rating Agency. To facilitate delivery of such notice, upon request by the Issuer, the Note Registrar shall provide to the Issuer a list of the relevant Registered Noteholders. Each notice shall will include the name of the successor Indenture Trustee with respect to the Securities of such series and the address of its principal Corporate Trust Office.
Appears in 9 contracts
Samples: Indenture Agreement, Indenture (American Express Receivables Financing Corp VIII LLC), Second Amended and Restated Indenture (American Express Receivables Financing Corp VIII LLC)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such a notice of removalremoval pursuant to this paragraph, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.145.13, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11. 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 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. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 8 contracts
Samples: Indenture (Enflex Corp), Indenture (Enflex Corp), Indenture (Usf Glen Moore Inc.)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security of such series of Securities for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, Holder of a Security who has been a bona fide Holder of a Security of such series of Securities for at least six months; or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security of such series of Securities for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyCompany with respect to such Securities. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 8 contracts
Samples: Indenture (Hornbeck Offshore Trinidad & Tobago, LLC), Indenture (Hornbeck Offshore Trinidad & Tobago, LLC), Indenture (Hornbeck Offshore Services LLC)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 8 contracts
Samples: Indenture (Genpact LTD), Indenture (Hewlett Packard Enterprise Co), Indenture (Hp Inc)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such a notice of removalremoval pursuant to this paragraph, the Trustee being removed Trustee may petition petition, at the expense of the Company Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company Issuer or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company Issuer by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Issuer, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company Issuer and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyIssuer. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Issuer or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.6. 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 8 contracts
Samples: Indenture of Trust (Kayne Anderson MLP Investment CO), Indenture of Trust (Kayne Anderson MLP Investment CO), Indenture of Trust (Kayne Anderson MLP Investment CO)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign as Trustee at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed as Trustee hereunder at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, ; or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, ; or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all SecuritiesTrustee, or (B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 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, cause with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Securities of such series as their names and addresses appear in the manner provided in Section 1.7Security 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 7 contracts
Samples: Senior Indenture (EAM Corp), Senior Indenture (Domtar Paper Company, LLC), Senior Indenture (Fisher Scientific International Inc)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such HolderHolder of Securities, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee 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 manner provided in Section 1.7Security 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 7 contracts
Samples: Indenture (Abraxas Petroleum Corp), Indenture (Abraxas Petroleum Corp), Indenture (Abraxas Petroleum Corp)
Resignation and Removal; Appointment of Successor. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11611. The Trustee or any successor hereafter appointed may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, upon written notice delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company Company, the Guarantors or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company Company, the Guarantors or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, 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 Company by a Board Resolution or the Guarantors may remove the Trustee with respect to all Securities, Securities or (B) subject to Section 5.14513, Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security such Securities for at least six months may, on behalf of himself themselves and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution or the Guarantors shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyCompany or the Guarantors. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Company, the Guarantors or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security Securities of such series for at least six months may petitionmay, on behalf of himself themselves 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. The Company or the Guarantors shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 7 contracts
Samples: Indenture (KKR & Co. Inc.), Indenture (KKR & Co. Inc.), Indenture (KKR & Co. Inc.)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, by written notice delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, 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 of such seriesTrustee. If at any time:
(1a) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder Xxxxxx who has been a bona fide Holder of a Security for at least six months, or;
(2b) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, ; or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A1) the Company by a Board Resolution may remove the Trustee with respect to all SecuritiesSecurities of which such Trustee acts as trustee, or (B2) subject to Section 5.14, Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security such Securities for at least six months may, on behalf of himself themselves and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of which such Trustee acts as trustee and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security such Securities of such series for at least six months may petitionor the Trustee may, on behalf of himself themselves 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 7 contracts
Samples: Indenture (EyePoint Pharmaceuticals, Inc.), Indenture (Mind Medicine (MindMed) Inc.), Indenture (EyePoint Pharmaceuticals, Inc.)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such a notice of removalremoval pursuant to this paragraph, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11. 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 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. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 7 contracts
Samples: Indenture (Diamondback Energy, Inc.), Indenture (Diamondback Energy, Inc.), Indenture (Horsehead Corp)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the Trustee’s receipt of such notice of removal, the removed departing Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 7 contracts
Samples: Indenture (Anthem, Inc.), Indenture (Anthem, Inc.), Indenture (Wellpoint, Inc)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt delivery of such notice the evidence of removalthe Act of the Holders, the removed Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(d) If at any time:
(1i) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security of a series as to which the Trustee has a conflicting interest for at least six months, or
(2ii) the Trustee for a series shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security for at least six months (and, in the case of clause (i) above, who is a holder of a Security of a series as to which the Trustee has a conflicting interest) may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of the Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more of or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by giving notice of such event to all Holders of Securities of such series in the manner as provided in by Section 1.71.06. 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 7 contracts
Samples: Subordinated Indenture (Knoll Inc), Subordinated Indenture (Lincoln National Corp), Subordinated Indenture (Metro Capital Trust V)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. 610.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 610 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of such seriesSecurities, delivered to the Trustee and to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 610 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the removed Trustee designated for removal may petition petition, at the expense of the Company Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(d) If at any time:
(1) the Trustee shall cease to be eligible under Section 608 and shall fail to comply with Section 6.8 resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Issuer, by a Board Resolution (or by a resolution of a duly authorized committee of the Board of Directors of the Issuer), may remove the Trustee with respect to or (ii) the Holders of at least 10% in aggregate principal amount of the then Outstanding Securities who have been bona fide Holders of a Security for at least six months may, on behalf of themselves and all Securitiesothers similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or (B) subject if a vacancy shall occur in the office of Trustee for any cause, the Issuer, by a Board Resolution, shall promptly appoint a successor Trustee. If the Issuer does not promptly appoint a successor Trustee 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 delivered to Section 5.14the Issuer and the retiring Trustee. In either case, 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 shall have been so appointed by the Issuer or the Holders and accepted appointment in the manner hereinafter provided, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series Trustee.
(it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular seriesf) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided for in Section 1.7106. 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.
(g) The retiring Trustee shall not be liable for any of the acts or omissions of any successor Trustee appointed hereunder.
Appears in 7 contracts
Samples: Indenture (Level 3 Parent, LLC), Indenture (Level 3 Parent, LLC), Indenture (Level 3 Parent, LLC)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition Trustee, at the expense of the Company Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the removed Trustee may petition being removed, at the expense of the Company Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 7 contracts
Samples: Subordinated Indenture (Commscope Inc), Indenture (American International Group Inc), Subordinated Debt Indenture (American International Group Inc)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such a notice of removalremoval pursuant to this paragraph, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7. 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 7 contracts
Samples: Indenture (Gulfport Buckeye LLC), Indenture (Gulfport Buckeye LLC), Indenture (Jaguar Resources LLC)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being 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 of such series. If .
(d) If, at any time:,
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, ,
(A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or or
(B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 6 contracts
Samples: Indenture (Marathon Petroleum Corp), Indenture (Marathon Oil Corp), Indenture (Marathon Oil Corp)
Resignation and Removal; Appointment of Successor. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11611. The Trustee or any successor hereafter appointed may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, upon written notice delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company Company, the Guarantors or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company Company, the Guarantors or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, 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 Company by a Board Resolution or the Guarantors may remove the Trustee with respect to all Securities, Securities or (B) subject to Section 5.14513, Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security such Securities for at least six months may, on behalf of himself themselves and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution or the Guarantors shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyCompany or the Guarantors. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company the Guarantors or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security Securities of such series for at least six months may petitionmay, on behalf of himself themselves 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. The Company or the Guarantors shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 6 contracts
Samples: Indenture (Ares Management Lp), Indenture (Ares Management Lp), Indenture (Carlyle Group L.P.)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such that or those series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such that series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor The Trustee required by Section 6.11 shall not have been delivered to the so removed Trustee within 30 days after the receipt of such notice of removalmay, the removed Trustee may petition at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities if no successor Trustee has been appointed within 30 days of such series. removal.
(d) If at any time:
(1i) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, ; or
(2ii) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, ; or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company may remove by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, any Holder of a Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company shall by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 that series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such that series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities of that series and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such that series for at least six months may petitionmay, 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 that series. .
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such that series in the manner provided in Section 1.71.06. Each notice shall include the name of the successor Trustee with respect to the Securities of such that series and the address of its Corporate Trust Office.
Appears in 6 contracts
Samples: Indenture (Fibria Celulose S.A.), Indenture (Fibria Celulose S.A.), Indenture (Braskem Finance LTD)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee pursuant to this Article shall VII will become effective until the acceptance of appointment by the successor Indenture Trustee in accordance with the applicable requirements of under Section 6.11. 7.11.
(b) The Indenture Trustee may resign with respect to any Series, Class or Tranche of Notes at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuing Entity. If the an instrument of acceptance by a successor Indenture Trustee required by Section 6.11 shall not have been delivered to the Indenture Trustee within 30 days after the giving of such notice of resignation, the resigning Indenture Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Indenture Trustee.
(c) The Indenture Trustee may be removed with respect to any Series, Class or Tranche of Notes at any time with respect to the Securities of any series by Act Action of the Majority Holders of a majority in principal amount of the Outstanding Securities of such seriesthat Series, Class or Tranche, delivered to the Indenture Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. Issuing Entity.
(d) If at any time:
(1i) the Indenture Trustee shall fail fails to comply with Section 6.8 310(b) of the Trust Indenture Act with respect to any Series, Class or Tranche of Notes after written request therefor by the Company Issuing Entity or by any Holder Noteholder who has been a bona fide Holder of a Security Note of that Series, Class or Tranche for at least six 6 months, or
(2ii) the Indenture Trustee shall cease ceases to be eligible under Section 6.9 7.09 with respect to any Series, Class or Tranche of Notes and shall fail fails to resign after written request therefor by the Company Issuing Entity or by any such HolderNoteholder, or
(3iii) the Indenture Trustee shall become becomes incapable of acting with respect to any Series, Class or shall be Tranche of Notes, or
(iv) the Indenture Trustee is adjudged a bankrupt or insolvent or a receiver of the Indenture Trustee or of its property shall be is appointed or any public officer shall take takes charge or control of the Indenture Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution Issuing Entity may remove the Trustee Indenture Trustee, with respect to the Series, Class or Tranche, or in the case of clause (iv), with respect to all SecuritiesSeries, Classes or Tranches, or (B) subject to Section 5.146.17, any Holder Noteholder who has been a bona fide Holder of a Security Note of such Series, Class and Tranche for at least six 6 months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Indenture Trustee with respect to all Securities such Series, Class or Tranche and the appointment of a successor Indenture Trustee with respect to the Series, Class or Trustees. Tranche, or, in the case of clause (iv), with respect to all Series, Classes and Tranches.
(e) If the Indenture Trustee shall resignresigns, be is removed or become becomes incapable of actingacting with respect to any Series, Class or Tranche of Notes, or if a vacancy shall occur in the office of the Indenture Trustee with respect to any Series, Class or Tranche of Notes for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall Issuing Entity will promptly appoint a successor Indenture Trustee for that Series, Class or Trustees with respect to the Securities Tranche of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Notes. If, within one year after such resignation, removal or incapabilityincapacity, or the occurrence of such vacancy, a successor Indenture Trustee with respect to the Securities such Series, Class or Tranche of any series shall be Notes is appointed by Act Action of the Majority Holders of a majority in principal amount of the Outstanding Securities of such series Series, Class or Tranche delivered to the Company Issuing Entity and the retiring Indenture Trustee, the successor Indenture Trustee so appointed shallwill, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Indenture Trustee with respect to the Securities of such series Series, Class or Tranche and to that extent supersede the successor Indenture Trustee appointed by the CompanyIssuing Entity with respect to such Series, Class or Tranche of Notes. If no successor Indenture Trustee with respect to the Securities such Series, Class or Tranche of any series Notes shall have been so appointed by the Company Issuing Entity or the Holders Noteholders of such Series, Class or Tranche and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder Noteholder who has been a bona fide Holder of a Security Note of such series Series, Class or Tranche for at least six 6 months may petitionmay, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Indenture Trustee with respect to the Securities such Series, Class or Tranche of such series. Notes.
(f) The Company shall Issuing Entity will give written notice of each resignation and each removal of the Indenture Trustee with respect to the Securities any Series, Class or Tranche of any series Notes and each appointment of a successor Indenture Trustee with respect to the Securities of any series Series, Class or Tranche to all Holders of Securities of such series in the manner each Noteholder as provided in Section 1.71.06 and to each Note Rating Agency. To facilitate delivery of such notice, upon request by the Issuing Entity, the Note Registrar shall provide to the Issuing Entity a list of the relevant Registered Noteholders. Each notice shall will include the name of the successor Indenture Trustee with respect to the Securities of such series and the address of its principal Corporate Trust Office.
Appears in 6 contracts
Samples: Indenture (Chase Card Funding LLC), Indenture (Chase Issuance Trust), Indenture (Chase Issuance Trust)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation or removal, the Trustee resigning or being removed may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 6 contracts
Samples: Indenture (Alexanders Inc), Indenture (Healthcare Realty Trust Inc), Indenture (Alexanders Inc)
Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the Trustee “Relevant Trustee”) and no appointment of a successor Issuer Trustee pursuant to this Article VIII shall become effective until the acceptance of appointment by the successor Issuer Trustee in accordance with the applicable requirements of Section 6.118.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyHolders and by appointing a successor Relevant Trustee. The Relevant Trustee shall appoint a successor by requesting from at least three Persons meeting the eligibility requirements its expenses and charges to serve as the Relevant Trustee on a form provided by the Administrative Trustees, and selecting the Person who agrees to the lowest expenses and charges. If the instrument of acceptance by a the successor Issuer Trustee required by Section 6.11 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the, in the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act case of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Property Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situatedDepositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. The Administrative Trustees, or any of them, may be appointed, removed or replaced by Act of the Holders of Common Securities delivered to the Relevant Trustee. The Property Trustee or the Delaware Trustee, or both of them, may be appointed, removed or replaced by Act of the Holders of at least a Majority in Liquidation Amount of the Capital Securities, delivered to the Relevant Trustee (in its individual capacity and, in the case of the Property Trustee, on behalf of the Issuer Trust) (i) for cause (including upon the occurrence of an Event of Default described in subparagraph (d) of the definition thereof with respect to the Relevant Trustee), or (ii) if a Debenture Event of Default shall have occurred and be continuing at any time. Unless and until an event described in clauses (i) or (ii) of the previous sentence shall have occurred and be continuing, the Property Trustee or the Delaware Trustee, or both of them, may be appointed, removed or replaced at any time by Act of the Holders of the Common Securities. If a resigning Issuer Trustee shall fail to appoint a successor, or if an Issuer Trustee shall be removed or become incapable of acting as Issuer Trustee, or if a vacancy shall occur in the office of any Issuer Trustee for any cause, the Holders of the Capital Securities, by Act of the Holders of not less than 25% in aggregate Liquidation Amount of the Capital Securities then Outstanding delivered to such Relevant Trustee, may appoint a successor Relevant Trustee or Trustees, and such successor Issuer Trustee shall comply with the applicable requirements of Section 8.11. If no successor Relevant Trustee shall have been so appointed by the Holders of the Capital Securities and accepted appointment in the manner required by Section 8.11, any Holder, on behalf of such seriesHolder and all others similarly situated, or any other Issuer Trustee, may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. The Company Property Trustee shall give notice of each resignation and each removal of the an Issuer Trustee with respect to the Securities of any series and each appointment of a successor Issuer Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.710.8 and shall give notice to the Depositor and to the Administrative Trustees. Each notice shall include the name of the successor Relevant Trustee with respect to the Securities of such series and the address of its Corporate Trust OfficeOffice if it is the Property Trustee. Notwithstanding the foregoing or any other provision of this Trust Agreement, if any Delaware Trustee who is a natural person dies or becomes, in the opinion of the Holders of the Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the Property Trustee following the procedures regarding expenses and charges set forth above (with the successor being a Person who satisfies the eligibility requirement for the Delaware Trustee set forth in Section 8.7) .
Appears in 5 contracts
Samples: Trust Agreement (Bb&t Corp), Trust Agreement (Bb&t Corp), Trust Agreement (Bb&t Corp)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. 609 and any and all amounts then due and owing to the Trustee hereunder have been paid in full.
(a) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 609 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(b) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 609 shall not have been delivered to the removed Trustee within 30 60 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) If at any time:
(1) the Trustee shall fail to comply with the provisions of TIA Section 6.8 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 607 and shall fail to resign after written request therefor by the Company or by any such HolderHolder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Company, by a Board Resolution Resolution, may remove the Trustee with respect to all Securities, or (Bii) subject to TIA Section 5.14315(e), 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(d) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(e) The Company shall give written notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all the Holders of Securities of such series in the manner provided for in Section 1.7106. 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 5 contracts
Samples: Indenture (Singular Genomics Systems, Inc.), Indenture (Coca-Cola European Partners Us, LLC), Indenture (Medicinova Inc)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of under Section 6.11. .
(b) The Trustee may resign at any time with respect to the Debt Securities of one or more series by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Debt Securities of any series and a successor Trustee appointed by Act of the Holders of a majority in principal amount of the Outstanding Debt Securities of such series, delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 60 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 with respect to the Debt Securities of any series after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Debt Security of such series for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 with respect to the Debt Securities of any series and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Debt Securities, or (Bii) subject to Section 5.14, any Holder who has been a bona fide Holder of a Debt Security of any series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. for the Debt Securities of such series.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Debt Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Debt Securities of that or those series (except as provided in Section 6.10(c)) (it being understood that any such successor Trustee may be appointed with respect to the Debt Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Debt Securities of any particular series) and such successor Trustee or Trustees 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 Debt Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Debt Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Debt Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Debt Securities of any series shall have been so appointed by the Company or the Holders of such series and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Debt Security of such series for at least six months may petitionmay, 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 Debt Securities of such series. .
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Debt Securities of any series and each appointment of a successor Trustee with respect to the Debt Securities of any series in the manner and to all the extent provided in Section 1.5 to the Holders of Debt Securities of such series in the manner provided in Section 1.7series. Each notice shall include the name of the successor Trustee with respect to the Debt Securities of such series and the address of its Corporate Trust Office.
Appears in 5 contracts
Samples: Indenture (Nicolet Bankshares Inc), Indenture (Heritage Financial Group Inc), Indenture (Reinsurance Group of America Inc)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyCompany and the Holders of the Securities of such series. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7. 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 5 contracts
Samples: Indenture (Umb Financial Corp), Indenture (Umb Financial Corp), Indenture (Umb Financial Corp)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the removed Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such seriesTrustee. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by Company, acting pursuant to the authority of a Board Resolution Resolution, may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 5 contracts
Samples: Indenture (Financial Institutions Inc), Indenture (Financial Institutions Inc), Indenture (Investar Holding Corp)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such seriesTrustee. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such seriesSecurities, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the all Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 5 contracts
Samples: Indenture (Bowater Inc), Indenture (Bowater Inc), Indenture (Bowater Inc)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 911.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 911 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, series delivered to the Trustee and to the Company. If ; provided that so long as any Preferred Securities remain outstanding, the instrument of acceptance by a successor Trustee required by Section 6.11 Trust which issued such Preferred Securities shall not have been delivered execute any Act to remove the removed Trustee within 30 days after without the receipt of such notice of removal, the removed Trustee may petition at the expense consent of the Company any court of competent jurisdiction for the appointment holders of a successor Trustee with respect majority in aggregate liquidation preference of Preferred Securities issued by such Trust outstanding, obtained as provided in the Trust Agreement pertaining to the Securities of such series. Trust.
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 908 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 909 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ax) the Company by a Board Resolution may remove the Trustee with respect to all Securities, Securities or (By) subject to Section 5.14814, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any causecause (other than as contemplated in clause (y) in Subsection (d) of this Section), with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11911. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11911, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11911, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, on behalf of himself itself 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) So long as no event which is, or after notice or lapse of time, or both, would become, an Event of Default shall have occurred and be continuing, and except with respect to a Trustee appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities pursuant to Subsection (e) of this Section, if the Company shall have delivered to the Trustee (i) a Board Resolution appointing a successor Trustee, effective as of a date specified therein, and (ii) an instrument of acceptance of such appointment, effective as of such date, by such successor Trustee in accordance with Section 911, the Trustee shall be deemed to have resigned as contemplated in Subsection (b) of this Section, the successor Trustee shall be deemed to have been appointed by the Company pursuant to Subsection (e) of this Section and such appointment shall be deemed to have been accepted as contemplated in Section 911, all as of such date, and all other provisions of this Section and Section 911 shall be applicable to such resignation, appointment and acceptance except to the extent inconsistent with this Subsection (f).
(g) The Company (or, should the Company fail so to act promptly, the successor trustee at the expense of the Company) shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee 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 manner provided in Section 1.7Security 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 Officecorporate trust office.
Appears in 4 contracts
Samples: Indenture (Txu Electric Capital Viii), Indenture (Txu Capital I), Indenture (Allete Capital Iii)
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with the applicable requirements of Section 6.11. 6.10.
(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.10 shall not have been delivered to the Trustee within 30 thirty (30) days after the giving of such notice of resignation, the resigning Trustee may appoint or 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. .
(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount Principal Amount of the Outstanding Securities of such seriesSecurities, delivered to the Trustee and to the Company. If Company or, so long as no Event of Default has occurred and is continuing, by the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered Company with notice to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. Trustee.
(4) If at any time:
(1) a. the Trustee shall fail to comply with Section 6.8 6.07 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six (6) months, unless the Trustee’s duty to resign has been stayed as provided in Section 310(b) of the Trust Indenture Act, or
(2) b. the Trustee shall cease to be eligible under Section 6.9 6.08 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) c. the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution of the Manager may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security for at least six (6) months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more seriesCompany, the Company by a Board Resolution of the Manager, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.116.10. If, within one (1) 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.116.10, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.116.10, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six (6) months may petitionmay, 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. Trustee.
(6) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities by mailing written notice of any series such event by first-class mail, postage prepaid or by electronic transmission, to all Holders of Securities of such series as their names and physical and e-mail addresses appear in the manner provided in Section 1.7Security 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 4 contracts
Samples: Indenture (Vault Holding 1, LLC), Indenture (Vault Holding 1, LLC), Indenture (Vault Holding 1, LLC)
Resignation and Removal; Appointment of Successor. (1) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to in accordance with this Article shall will become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. 5.10.
(2) The Trustee may resign at any time with respect to the Debt Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall 5.10 will not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition may, at the expense of the Company Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(3) The Trustee may be removed at any time with respect to the Debt Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such seriesDebt Securities, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall 5.10 will not have been delivered to the removed Trustee within 30 days after the of receipt of such notice of Act specifying removal, the removed Trustee may petition may, at the expense of the Company Company’s expense, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such seriesTrustee. If at any time:
(1a) the Trustee shall will fail to comply with the obligations imposed upon it under Section 6.8 312(b) of the Trust Indenture Act with respect to the Debt Securities after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or;
(2b) the Trustee shall will cease to be eligible under Section 6.9 5.8 and shall will fail to resign after written request therefor by the Company or by any such Holder, ; or
(3c) the Trustee shall will become incapable of acting or shall will be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall will be appointed or any public officer shall will 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, (Ai) the Company Company, by or in accordance with a Board Resolution Resolution, may remove the Trustee with respect to all the Debt Securities, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, 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 removal of the Trustee with respect to all Debt Securities and the appointment of a successor Trustee. In addition, the Company may remove the Trustee or Trustees. if the Company determines by Board Resolution that the services provided hereunder by the Trustee may be obtained at a substantially lower cost to the Company.
(4) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall will occur in the office of Trustee for any cause, with respect to the Securities of one or more seriesDebt Securities, the Company Company, by or in accordance with a Board Resolution shall Resolution, will promptly appoint a successor Trustee or Trustees with respect to the Debt Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall will comply with the applicable requirements of Section 6.115.10. Iflf, within one year after such resignation, removal or incapability, or the occurrence of such vacancyappointment, a successor Trustee with respect to the Debt Securities of any series shall will be appointed by Act of the Holders of a majority in principal amount of the Outstanding Debt Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shallwill, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.115.10, become the successor Trustee with respect to the Debt Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Debt Securities of any series shall will have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.115.10, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. Debt Securities.
(5) The Company shall will give notice of each resignation and each removal of the Trustee with respect to the Debt Securities of any series and each appointment of a successor Trustee with respect to the Debt Securities of any series to all Holders of Securities by delivering written notice of such series event by first-class mail, postage prepaid, to the Holders as their names and addresses appear in the manner provided in Section 1.7Security Register. Each notice shall will include the name of the successor Trustee with respect to the Debt Securities of such series and the address of its Corporate Trust Office.
Appears in 4 contracts
Samples: Indenture (City Holding Co), Indenture (City Holding Co), Indenture (City Holding Co)
Resignation and Removal; Appointment of Successor. Subject to compliance with applicable Gaming Laws:
(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 in accordance with the applicable requirements of under Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series Notes by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Notes.
(c) The Trustee may be removed at any time with respect to the Securities of any series Notes and a successor Trustee appointed by Act of the Holders holders of at least a majority in principal amount of the Outstanding Securities of such seriesNotes, delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being 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 of such series. Notes.
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 with respect to the Notes after written request therefor by the Company or by any Holder holder who has been a bona fide Holder holder of a Security Note for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 with respect to the Notes and shall fail to resign after written request therefor by the Company or by any such Holderholder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Company, by a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesNotes, or (Bii) subject to Section 5.14, any Holder holder who has been a bona fide Holder holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. for the Notes.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more seriesNotes, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series Notes and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Notes shall be appointed by Act of the Holders holders of at least a majority in principal amount of the Outstanding Securities of such series Notes delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and Notes and, to that extent extent, supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series Notes shall have been so appointed by the Company or the Holders holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder holder who has been a bona fide Holder holder of a Security of such series Note for at least six months may petitionmay, subject to Section 5.7, 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. Notes.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series Notes and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series Notes in the manner and to the extent provided in Section 1.717.2 to the holders of Notes. Each notice shall include the name of the successor Trustee with respect to the Securities of such series Notes and the address of its Corporate Trust Office.
Appears in 4 contracts
Samples: Indenture (MGM Mirage), Indenture (MGM Mirage), Indenture (MGM Mirage)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series Notes by giving written notice thereof to the CompanyIssuers. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee resigning Trustee, at the expense of the Issuers, within 30 45 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Notes.
(c) The Trustee may be removed at any time with respect to the Securities of any series Notes by Act of the Holders of a majority in principal amount of the Outstanding Securities of such seriesNotes, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. Issuers.
(d) If at any time:
(1i) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company Issuers or by any Holder who has been a bona fide Holder of a Security Note as to which the Trustee has a conflicting interest for at least six months, or
(2ii) the Trustee for the Notes shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company Issuers or by any such HolderHolder of Notes, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Issuers by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.145.11, any Holder who has been a bona fide Holder of a Security Note for at least six months (and, in the case of clause (i) above, who is a holder of a Note as to which the Trustee has a conflicting interest) may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities issued under the Indenture and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of the Trustee for any cause, with respect to the Notes or any Securities of one or more a series, the Company Issuers, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Notes or Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Notes or Securities of one or more of or all of such series and that at any time there shall be only one Trustee with respect to the Notes or Securities of any particular series) and such successor Trustee or Trustees 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 Notes and Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Notes or Outstanding Securities (as defined in the Indenture) of such series delivered to the Company Issuers and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Notes and Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyIssuers. If no successor Trustee with respect to the Notes and Securities of any series shall have been so appointed by the Company Issuers or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petitionbeing removed, at the expense of the Issuers, or any Holder who has been a bona fide Holder of a Security Note or Note of such series for at least six months may petitionmonths, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(f) The Company Issuers shall give notice of each resignation and each removal of the Trustee with respect to the Notes and Securities of any series and each appointment of a successor Trustee with respect to the Notes and Securities of any series by giving notice of such event to all Holders of Notes and Securities of such series in the manner as provided in by Section 1.72.06. 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 4 contracts
Samples: Second Supplemental Indenture (Suburban Propane Partners Lp), First Supplemental Indenture (Suburban Propane Partners Lp), First Supplemental Indenture (Suburban Propane Partners Lp)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign as Trustee at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed as Trustee hereunder at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the at any time an instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt of such date a notice of removalremoval is delivered to the Trustee, the Trustee being removed Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, ; or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, ; or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all SecuritiesTrustee, or (B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 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, cause with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Securities of such series as their names and addresses appear in the manner provided in Section 1.7Security 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 4 contracts
Samples: Subordinated Indenture (Principal Financial Group Inc), Subordinated Indenture (Principal Financial Group Inc), Senior Indenture (Principal Financial Group Inc)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee of any Trust pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of under Section 6.11. 7.10.
(b) The Trustee may resign at any time with respect to the Securities as Trustee of one any or more series all Trusts by giving prior written notice thereof to the Company, the Authorized Agents, the related Owner Trustees and the related Loan Trustees. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Company, the related Owner Trustees and the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act Direction of the Holders Certificateholders of the related series holding Certificates evidencing Fractional Undivided Interests aggregating not less than a majority in principal amount of the Outstanding Securities of interest in such series, Trust delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, the removed Trustee may petition at related Owner Trustees and 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. related Loan Trustees.
(d) If at any timetime in respect of any Trust:
(1) the Trustee shall fail to comply with Section 6.8 310 of the Trust Indenture Act, if applicable, after written request therefor by the Company or by any Holder Certificateholder who has been a bona fide Holder of a Security Certificateholder for at least six months, ; or
(2) the Trustee shall cease to be eligible under Section 6.9 7.08 and shall fail to resign after written request therefor by the Company or by any such Holder, Certificateholder; or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14, any Holder Certificateholder of the related series who has been a bona fide Holder Certificateholder for at least six months may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a Security successor Trustee of such Trust.
(e) If a Responsible Officer of the Trustee shall obtain actual knowledge of an Avoidable Tax (as defined below) in respect of any Trust which has been or is likely to be asserted, the Trustee shall promptly notify the Company and shall, within 30 days of such notification, resign as Trustee of such Trust hereunder unless within such 30-day period the Trustee shall have received notice that the Company has agreed to pay such tax. The Company shall promptly appoint a successor Trustee of such Trust in a jurisdiction where there are no Avoidable Taxes. As used herein, an "Avoidable Tax" in respect of such Trust means a state or local tax: (i) upon (w) such Trust, (x) such Trust Property, (y) Certificateholders of such Trust or (z) the Trustee for which the Trustee is entitled to seek reimbursement from the Trust Property of such Trust, and (ii) which would be avoided if the Trustee were located in another state, or jurisdiction within a state, within the United States of America. A tax shall not be an Avoidable Tax in respect of any Trust if the Company or any Owner Trustee shall agree to pay, and shall pay, such tax.
(f) If the Trustee shall resign, be removed or become incapable of acting as Trustee of any Trust or if a vacancy shall occur in the office of the Trustee of any Trust for any cause, the Company shall promptly appoint a successor Trustee of such Trust. If, within one year after such resignation, removal or incapability, or other occurrence of such vacancy, a successor Trustee of such Trust shall be appointed by Direction of the Certificateholders of the related series holding Certificates of such series evidencing Fractional Undivided Interests aggregating not less than a majority in interest in such Trust delivered to the Company, the related Owner Trustees, the related Loan Trustee and the retiring Trustee, then the successor Trustee of such Trust so appointed shall, with the approval of the Company of such appointment, which approval shall not be unreasonably withheld, forthwith upon its acceptance of such appointment, become the successor Trustee of such Trust and supersede the successor Trustee of such Trust appointed as provided above. If no successor Trustee shall have been so appointed as provided above and accepted appointment in the manner hereinafter provided, the resigning Trustee or any Certificateholder who has been a bona fide Certificateholder of the related 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 Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a such Trust.
(g) The successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company Trust shall give notice of each the resignation and each removal of the Trustee with respect and appointment of the successor Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Securities Certificateholders of any the related series as their names and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series addresses appear in the manner provided in Section 1.7Register. Each notice shall include the name of the such successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.
Appears in 4 contracts
Samples: Pass Through Trust Agreement (Us Airways Inc), Pass Through Trust Agreement (Us Airways Inc), Pass Through Trust Agreement (Southwest Airlines Co)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such a notice of removalremoval pursuant to this paragraph, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 4 contracts
Samples: Subordinated Debt Indenture (Goldman Sachs Group Inc/), Subordinated Debt Indenture (Key3media Group Inc), Indenture (Goldman Sachs Group Inc)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee pursuant to this Article shall will become effective until the acceptance of appointment by the successor Indenture Trustee in accordance with the applicable requirements of under Section 6.11. 711.
(b) The Indenture Trustee may resign with respect to any Series, Class or Tranche of Notes at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the an instrument of acceptance by a successor Indenture Trustee required by Section 6.11 shall not have been delivered to the Indenture Trustee within 30 thirty (30) days after the giving of such notice of resignation, the resigning Indenture Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Indenture Trustee.
(c) The Indenture Trustee may be removed with respect to any Series, Class or Tranche of Notes at any time with respect to the Securities of any series by Act Action of the Majority Holders of a majority in principal amount of the Outstanding Securities of such seriesthat Series, Class or Tranche, delivered to the Indenture Trustee and to the CompanyIssuer. If the an instrument of acceptance by a successor Indenture Trustee required by Section 6.11 shall not have been delivered to the removed Indenture Trustee within 30 days after the receipt giving of such notice of removal, the Indenture Trustee being 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 of such series. Indenture Trustee.
(d) If at any time:
(1i) the Indenture Trustee shall fail fails to comply with Section 6.8 310(b) of the Trust Indenture Act with respect to any Series, Class or Tranche of Notes after written request therefor by the Company Issuer or by any Holder Noteholder who has been a bona fide Holder of a Security Note of that Series, Class or Tranche for at least six (6) months, or
(2ii) the Indenture Trustee shall cease ceases to be eligible under Section 6.9 709 with respect to any Series, Class or Tranche of Notes and shall fail fails to resign after written request therefor by the Company Issuer or by any such HolderNoteholder, or
(3iii) the Indenture Trustee shall become becomes incapable of acting with respect to any Series, Class or shall be Tranche of Notes, or
(iv) the Indenture Trustee is adjudged a bankrupt or insolvent or a receiver of the Indenture Trustee or of its property shall be is appointed or any public officer shall take takes charge or control of the Indenture Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution Issuer may remove the Trustee Indenture Trustee, with respect to the Series, Class or Tranche, or in the case of clause (iv), with respect to all SecuritiesSeries, Classes or Tranches, or (B) subject to Section 5.14617, any Holder Noteholder who has been a bona fide Holder of a Security Note of such Series, Class and Tranche for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Indenture Trustee with respect to all Securities such Series, Class or Tranche and the appointment of a successor Indenture Trustee with respect to the Series, Class or Trustees. Tranche, or, in the case of clause (iv), with respect to all Series, Classes and Tranches.
(e) If the Indenture Trustee shall resignresigns, be is removed or become becomes incapable of actingacting with respect to any Series, Class or Tranche of Notes, or if a vacancy shall occur in the office of the Indenture Trustee with respect to any Series, Class or Tranche of Notes for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall Issuer will promptly appoint a successor Indenture Trustee for that Series, Class or Trustees with respect to the Securities Tranche of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Notes. If, within one year after such resignation, removal or incapabilityincapacity, or the occurrence of such vacancy, a successor Indenture Trustee with respect to the Securities such Series, Class or Tranche of any series shall be Notes is appointed by Act of the Majority Holders of a majority in principal amount of the Outstanding Securities of such series Series, Class or Tranche delivered to the Company Issuer and the retiring Indenture Trustee, the successor Indenture Trustee so appointed shallwill, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Indenture Trustee with respect to the Securities of such series Series, Class or Tranche and to that extent supersede the successor Indenture Trustee appointed by the CompanyIssuer with respect to such Series, Class or Tranche of Notes. If no successor Indenture Trustee with respect to the Securities such Series, Class or Tranche of any series Notes shall have been so appointed by the Company Issuer or the Holders Noteholders of such Series, Class or Tranche and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder Noteholder who has been a bona fide Holder of a Security Note of such series that Series, Class or Tranche for at least six (6) months may petitionmay, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Indenture Trustee with respect to the Securities such Series, Class or Tranche of such series. Notes.
(f) The Company shall Issuer will give written notice of each resignation and each removal of the Indenture Trustee with respect to the Securities any Series, Class or Tranche of any series Notes and each appointment of a successor Indenture Trustee with respect to the Securities of any series Series, Class or Tranche to all Holders of Securities of such series in the manner each Noteholder as provided in Section 1.7106 and to each Note Rating Agency. To facilitate delivery of such notice, upon request by the Issuer, the Note Registrar shall provide to the Issuer a list of the relevant Registered Noteholders. Each notice shall will include the name of the successor Indenture Trustee with respect to the Securities of such series and the address of its principal Corporate Trust Office.
Appears in 4 contracts
Samples: Indenture (Capital One Master Trust), Indenture (Capital One Master Trust), Indenture
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with the applicable requirements of pursuant to Section 6.11. 609.
(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyOperating Partnership. If the instrument of acceptance by a successor Trustee required by Section 6.11 609 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Operating Partnership, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the CompanyOperating Partnership. If the instrument of acceptance by a successor Trustee required by Section 6.11 609 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Operating Partnership, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(4) If at any time:
(1a) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company Operating Partnership or by any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or
(2b) the Trustee shall cease to be eligible under Section 6.9 607 and shall fail to resign after written request therefor by the Company Operating Partnership or by any such Holder, or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Operating Partnership, by or pursuant to a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Operating Partnership, by or pursuant to a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11609. 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 aggregate principal amount of the Outstanding Securities of such series delivered to the Company Operating Partnership and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11609, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyOperating Partnership. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Operating Partnership or the Holders of Securities and accepted appointment in the manner required by Section 6.11609, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(6) The Company Operating Partnership shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Registered Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of Payment located outside the manner provided in Section 1.7United States. 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 4 contracts
Samples: Indenture (Washington Prime Group Inc.), Indenture (CBL & Associates Limited Partnership), Indenture (American Campus Communities Operating Partnership LP)
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with the applicable requirements of pursuant to Section 6.11. 609.
(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer and the Guarantor (if the Securities are Guaranteed Securities). If the instrument of acceptance by a successor Trustee required by Section 6.11 609 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If Issuer and the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 Guarantor (if the Securities of such series. are Guaranteed Securities).
(4) If at any time:
(1a) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company Issuer, the Guarantor (if the Securities are Guaranteed Securities) or by any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or
(2b) the Trustee shall cease to be eligible under Section 6.9 607 and shall fail to resign after written request therefor by the Company Issuer, the Guarantor (if the Securities are Guaranteed Securities) or by any such Holder, or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Issuer, by or pursuant to a Board Resolution Resolution, or the Guarantor (if the Securities are Guaranteed Securities), by or pursuant to a Guarantor's Board Resolution, may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(1) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Issuer, by or pursuant to a Board Resolution Resolution, and the Guarantor (if the Securities are Guaranteed Securities), by or pursuant to a Guarantor's Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11609. 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 Company Issuer, the Guarantor (if the Securities are Guaranteed Securities) and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11609, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyIssuer and the Guarantor (if the Securities are Guaranteed Securities). If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Issuer and the Guarantor (if the Securities are Guaranteed Securities) or the Holders of Securities and accepted appointment in the manner required by Section 6.11609, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(2) The Company Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Registered Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of Payment located outside the manner provided in Section 1.7United States. 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 4 contracts
Samples: Indenture (Reckson Associates Realty Corp), Indenture (Reckson Associates Realty Corp), Indenture (Reckson Operating Partnership Lp)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee pursuant to this Article shall will become effective until the acceptance of appointment by the successor Indenture Trustee in accordance with the applicable requirements of under Section 6.11. 811.
(b) The Indenture Trustee may resign with respect to any series or class of Notes at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the an instrument of acceptance by a successor Indenture Trustee required by Section 6.11 shall not have been delivered to the Indenture Trustee within 30 thirty (30) days after the giving of such notice of resignation, the resigning Indenture Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Indenture Trustee.
(c) The Indenture Trustee may be removed with respect to any series or class of Notes at any time with respect to the Securities of any series by Act of the Majority Holders of a majority in principal amount of the Outstanding Securities of such seriesthat series or class, delivered to the Indenture Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. Issuer.
(d) If at any time:
(1i) the Indenture Trustee shall fail fails to comply with Section 6.8 310(b) of the Trust Indenture Act with respect to any series or class of Notes after written request therefor by the Company Issuer or by any Holder Noteholder who has been a bona fide Holder of a Security Note of that series or class for at least six (6) months, or
(2ii) the Indenture Trustee shall cease ceases to be eligible under Section 6.9 809 with respect to any series or class of Notes and shall fail fails to resign after written request therefor by the Company Issuer or by any such HolderNoteholder, or
(3iii) the Indenture Trustee shall become becomes incapable of acting with respect to any series or shall be class of Notes, or
(iv) the Indenture Trustee is adjudged a bankrupt or insolvent or a receiver of the Indenture Trustee or of its property shall be is appointed or any public officer shall take takes charge or control of the Indenture Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution Issuer may remove the Trustee Indenture Trustee, with respect to the series or class, or in the case of clause (iv), with respect to all Securitiesseries or classes, or (B) subject to Section 5.14717, any Holder Noteholder who has been a bona fide Holder of a Security Note of such series, class and class for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Indenture Trustee with respect to all Securities such series or class and the appointment of a successor Indenture Trustee with respect to the series or Trustees. class, or, in the case of clause (iv), with respect to all series and classes.
(e) If the Indenture Trustee shall resignresigns, be is removed or become becomes incapable of actingacting with respect to any series or class of Notes, or if a vacancy shall occur in the office of the Indenture Trustee with respect to any series or class of Notes for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall Issuer will promptly appoint a successor Indenture Trustee for that series or Trustees with respect to the Securities class of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Notes. If, within one year after such resignation, removal or incapabilityincapacity, or the occurrence of such vacancy, a successor Indenture Trustee with respect to the Securities such series or class of any series shall be Notes is appointed by Act of the Majority Holders of a majority in principal amount of the Outstanding Securities of such series or class delivered to the Company Issuer and the retiring Indenture Trustee, the successor Indenture Trustee so appointed shallwill, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Indenture Trustee with respect to the Securities of such series or class and to that extent supersede the successor Indenture Trustee appointed by the CompanyIssuer with respect to such series or class. If no successor Indenture Trustee with respect to the Securities of any such series or class shall have been so appointed by the Company Issuer or the Holders Noteholders of such series or class and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder Noteholder who has been a bona fide Holder of a Security Note of such that series or class for at least six (6) months may petitionmay, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Indenture Trustee with respect to the Securities of such series. series or class.
(f) The Company shall Issuer will give written notice of each resignation and each removal of the Indenture Trustee with respect to the Securities of any series or class and each appointment of a successor Indenture Trustee with respect to the Securities of any series or class to all Holders of Securities of such series in the manner each Noteholder as provided in Section 1.7106 and to each Note Rating Agency. Each notice shall will include the name of the successor Indenture Trustee with respect to the Securities of such series and the address of its principal Corporate Trust Office.
Appears in 4 contracts
Samples: Indenture (Daimlerchrysler Master Owner Trust), Indenture (Carco Auto Loan Master Trust), Indenture (Daimlerchrysler Wholesale Receivables LLC)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of under Section 6.11. 7.09.
(b) The Trustee may resign at any time with respect to the Securities of one or more series as trustee by giving written notice thereof to the Company, the Authorized Agents, the Owner Trustees and the Loan Trustees. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Company, the Authorized Agents, the Owner Trustees, the Loan Trustees and the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act Direction of the Holders of Certificateholders holding Certificates evidencing Fractional Undivided Interests aggregating not less than a majority in principal amount of interest in the Outstanding Securities of such series, Trust delivered to the Trustee and to Trustee, the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, the removed Trustee may petition at Owner Trustees and 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. Loan Trustees.
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 310 of the Trust Indenture Act after written request therefor by the Company or by any Holder Certificateholder who has been a bona fide Holder of a Security Certificateholder for at least six months, ; or
(2) the Trustee shall cease to be eligible under Section 6.9 7.07 and shall fail to resign after written request therefor by the Company or by any such Holder, Certificateholder; or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14, any Holder Certificateholder who has been a bona fide Holder of a Security Certificateholder for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee.
(e) If a Responsible Officer of the Trustee shall obtain actual knowledge of an Avoidable Tax (as hereinafter defined) which has been or Trusteesis likely to be asserted, the Trustee shall promptly notify the Company and shall, within 30 days of such notification, resign as Trustee hereunder unless within such 30-day period the Trustee shall have received notice that the Company has agreed to pay such tax. The Company shall promptly appoint a successor Trustee in a jurisdiction where there are no Avoidable Taxes. As used herein, an "Avoidable Tax" means a state or local tax: (i) upon (w) the Trust, (x) the Trust Property, (y) Certificateholders or (z) the Trustee for which the Trustee is entitled to seek reimbursement from the Trust Property, and (ii) which would be avoided if the Trustee were located in another state, or jurisdiction within a state, within the United States. A tax shall not be an Avoidable Tax if the Company or any Owner Trustee shall agree to pay, and shall pay, such tax.
(f) If the Trustee shall resign, be removed or become incapable of acting, acting as trustee or if a vacancy shall occur in the office of the Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Trustee. If, within one year 90 days after such resignation, removal or incapability, or the other occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act Direction of the Holders of Certificateholders holding Certificates evidencing Fractional Undivided Interests aggregating not less than a majority in principal amount of interest in the Outstanding Securities of such series Trust delivered to the Company Company, the Owner Trustees, the Loan Trustee and the retiring Trustee, the successor Trustee Trustees so appointed shall, with the approval of the Company, which approval shall not be unreasonably withheld, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Companyas provided above. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders as provided above and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring resigning Trustee may petition, or any Holder Certificateholder who has been a bona fide Holder of a Security of such series Certificateholder for at least six months may petitionmay, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee.
(g) The successor Trustee with respect to the Securities of such series. The Company a Trust shall give notice of each the resignation and each removal of the Trustee with respect and appointment of the successor Trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Securities of any series Certificateholders as their names and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series addresses appear in the manner provided in Section 1.7Register. Each notice shall include the name of the such successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.
Appears in 4 contracts
Samples: Pass Through Trust Agreement (Amtran Inc), Pass Through Trust Agreement (Ata Holdings Corp), Pass Through Trust Agreement (Amtran Inc)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of pursuant to Section 6.11. 6.09.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.09 shall not have been delivered to the Trustee within 30 90 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.09 shall not have been delivered to the removed Trustee within 30 90 days after the receipt giving of such notice of removal, 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 of such series. .
(d) If at any time:
(1i) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company or by any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or
(2ii) the Trustee shall cease to be eligible under Section 6.9 6.07 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Company, by or pursuant to a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by or pursuant to a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those such series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.116.09. If, within one year after such resignation, removal or incapabilityincapacity, 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.116.09, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.116.09, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Registered Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of Payment located outside the manner provided in Section 1.7United States. 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.
(g) In no event shall any retiring Trustee be liable for the acts or omissions of any successor Trustee hereunder.
Appears in 4 contracts
Samples: Indenture (Partnerre LTD), Indenture (PartnerRe Finance B LLC), Indenture (Partnerre Capital Trust Iii)
Resignation and Removal; Appointment of Successor. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11611. The Trustee or any successor hereafter appointed may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, upon written notice delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company Company, the Guarantors or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company Company, the Guarantors or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, 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 Company by a Board Resolution or the Guarantors may remove the Trustee with respect to all Securities, Securities or (B) subject to Section 5.14513, Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security such Securities for at least six months may, on behalf of himself themselves and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution or the Guarantors shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 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. 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 aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyCompany or the Guarantors. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Company, the Guarantors or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security Securities of such series for at least six months may petitionmay, on behalf of himself themselves 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. The Company or the Guarantors shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 4 contracts
Samples: Subordinated Indenture (Royalty Pharma Holdings Ltd.), Subordinated Indenture (Royalty Pharma Holdings Ltd.), Indenture (Royalty Pharma PLC)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of under Section 6.11. .
(b) The Trustee may resign at any time with respect to the Debt Securities of one or more series by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Debt Securities of any series and a successor Trustee appointed by Act of the Holders of a majority in principal amount of the Outstanding Debt Securities of such series, delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 60 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 with respect to the Debt Securities of any series after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Debt Security of such series for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 with respect to the Debt Securities of any series and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Debt Securities, or (Bii) subject to Section 5.14, any Holder who has been a bona fide Holder of a Debt Security of any series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. for the Debt Securities of such series.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Debt Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Debt Securities of that or those series (except as provided in Section 6.10(c)) (it being understood that any such successor Trustee may be appointed with respect to the Debt Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Debt Securities of any particular series) and such successor Trustee or Trustees 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 Debt Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Debt Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Debt Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Debt Securities of any series shall have been so appointed by the Company or the Holders of such series and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Debt Security of such series for at least six months may petitionmay, 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 Debt Securities of such series. .
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Debt Securities of any series and each appointment of a successor Trustee with respect to the Debt Securities of any series in the manner and to all the extent provided in Section 1.5 to the Holders of Debt Securities of such series in the manner provided in Section 1.7series. Each notice shall include the name of the successor Trustee with respect to the Debt Securities of such series and the address of its Corporate Trust Office.
Appears in 4 contracts
Samples: Indenture (Sigma Aldrich Corp), Indenture (Sigma Aldrich Corp), Senior Secured Indenture (Ralcorp Holdings Inc /Mo)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 609.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect Trustee. The Trustee’s rights to indemnity and reimbursement of outstanding fees and expenses shall survive the Securities of such series. Trustee’s resignation.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, series delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of TIA Section 6.8 310(b) after written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 607 and shall fail to resign after written request therefor by the Company or by any such HolderHolder of a Security who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by or pursuant to a Board Resolution may remove the Trustee and appoint a successor Trustee with respect to all Securities, or (Bii) subject to TIA Section 5.14315(e), any Holder of a Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, cause with respect to the Securities of one or more series, the Company Company, by or pursuant to a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of or such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided for notices to the Holders of Securities in Section 1.7106. 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 4 contracts
Samples: Indenture (Capitalsource Inc), Indenture (Capitalsource Inc), Indenture (Capitalsource Holdings LLC)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 611.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyCorporation. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the CompanyCorporation. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being 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 of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company Corporation or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company Corporation or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, ,
(A) the Company Corporation by a Board Resolution may remove the Trustee with respect to all Securities, or or
(B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Corporation, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company Corporation and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyCorporation. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Corporation or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company Corporation shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 4 contracts
Samples: Indenture (United States Steel Corp), Indenture (United States Steel Corp), Indenture (United States Steel Corp)
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with the applicable requirements of Section 6.11. 6.9.
(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.9 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of not less than a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument Trustee has or shall acquire any conflicting interest, within the meaning of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered the TIA, it shall, within 90 days after ascertaining that it has such conflicting interest, either eliminate such conflicting interest or resign, to the removed Trustee within 30 days after extent and in the receipt of such notice of removalmanner provided by, and subject to the provisions of, 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 of such series. TIA and this Indenture.
(4) If at any time:
(1a) the Trustee shall fail to comply with the provisions of TIA Section 6.8 310(b) after written request therefor by either the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2b) the Trustee shall cease to be eligible under Section 6.9 6.7 and shall fail to resign after written request therefor by either the Company or by any such HolderHolder who has been a bona fide Holder of a Security for at least six months, or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) either the Company Company, by a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to TIA Section 5.14315(e), 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 removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(6) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all the Holders of Securities of such series in the manner provided for in Section 1.71.6. 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 4 contracts
Samples: Indenture (Valens Company, Inc.), Indenture (Cardiol Therapeutics Inc.), Indenture (VIQ Solutions Inc.)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the removed Trustee subject to removal 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 seriesTrustee. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 310(b) of the Trust Indenture Act pursuant to Section 6.08 with respect to any series of Securities after written request therefor by the Company or by any Holder of a Security of that series who has been a bona fide Holder of a such Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 with respect to any series of Securities and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or with respect to any series of Securities, or
(4) the Trustee shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or
(5) the Trustee shall commence a voluntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or state bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian, liquidator, assignee, trustee, sequestrator (or other similar official) of the Trustee or its property or affairs, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or shall take corporate action in furtherance of any such action, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to such series, or in the case of clauses (4) or (5), with respect to all series of Securities, or (Bii) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee with respect to such series, or Trusteesin the case of clauses (4) or (5), with respect to all series of Securities. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of such series and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 4 contracts
Samples: Indenture (Bergen Brunswig Corp), Indenture (Bergen Brunswig Corp), Indenture (Bergen Brunswig Corp)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of under Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the Company’s expense of the Company petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by an Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with Section 310(b) of the Trust Indenture Act pursuant to Section 6.8 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six monthsmonths unless the Trustee’s duty to resign is stayed in accordance with Section 310(b) of the Trust Indenture Act, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all SecuritiesTrustee, or (Bii) subject to Section 5.14, the Holder of any Holder Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of any one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all securities of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of such Securities and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or Holder of any Holder Security of such series who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Securities of such series as their names and addresses appear in the manner provided in Section 1.7Security 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 4 contracts
Samples: Indenture (Colony Financial, Inc.), Indenture (McCormick & Co Inc), Indenture (McCormick & Co Inc)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the reasonable expense of the Company Issuer or the Guarantor any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the CompanyIssuer and the Guarantor. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of its removal, the removed Trustee may petition at the reasonable expense of the Company Issuer or the Guarantor any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(d) If at any time:
(1i) the Trustee shall fail to comply with Section 6.8 with respect to the Securities of any series after written request therefor by the Company Issuer or the Guarantor or by any Holder who has been a bona fide Holder of a Security of such series for at least six months, or;
(2ii) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company Issuer or the Guarantor or by any such Holder, Holder of a Security of any series; or
(3iii) the Trustee with respect to the Securities of any series shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, ; then, in any such case, (A1) the Company Issuer by a Board Resolution may remove the Trustee with respect to all the applicable or (if required) all, series of Securities, or (B2) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security the applicable series of Securities for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Trustees with respect to such series of Securities.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Issuer, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 the applicable 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 Company Issuer and the Guarantor and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyIssuer. If no successor Trustee with respect to the Securities of any the applicable series shall have been so appointed by the Company Issuer or the Holders of Securities of such series and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any the applicable series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.6. 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 4 contracts
Samples: Indenture (Telefonica Emisiones, S.A.U.), Indenture (Telefonica Emisiones, S.A.U.), Indenture (Telefonica S A)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such HolderHolder of Securities, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee 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 manner provided in Section 1.7Security 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 4 contracts
Samples: Indenture (Petrohawk Energy Corp), Indenture (Brigham Holdings Ii LLC), Indenture (Brigham Holdings Ii LLC)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 611.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed resigning Trustee within 30 days after the receipt giving of such notice of removalresignation, the removed resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608(a) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such HolderHolder of Securities, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14505, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company611. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee 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 manner provided in Section 1.7Security 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 4 contracts
Samples: Indenture (Iveda Solutions, Inc.), Indenture (Duos Technologies Group, Inc.), Indenture (Esports Entertainment Group, Inc.)
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with the applicable requirements of pursuant to Section 6.11. 6.9.
(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyCompany and the Guarantor. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.9 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee Trustee, the Company and to the CompanyGuarantor. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.9 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removalresignation, the removed resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(4) If at any time:
(1a) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company Company, the Guarantor or by any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or
(2b) the Trustee shall cease to be eligible under Section 6.9 6.7 and shall fail to resign after written request therefor by the Company Company, the Guarantor or by any such Holder, or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Company, by or pursuant to a Board Resolution Resolution, or the Guarantor, by or pursuant to a Guarantor’s Board Resolution, may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by or pursuant to a Board Resolution Resolution, and the Guarantor, by or pursuant to a Guarantor’s Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those such series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.116.9. If, within one year after such resignation, removal or incapabilityincapacity, 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 Company Company, the Guarantor and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.116.9, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyCompany and the Guarantor. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company and the Guarantor or the Holders of Securities and accepted appointment in the manner required by Section 6.116.9, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(6) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Registered Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of Payment located outside the manner provided in Section 1.7United States. 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.
(7) In no event shall any retiring Trustee be liable for the acts or omissions of any successor Trustee hereunder.
Appears in 3 contracts
Samples: Indenture (Assured Guaranty US Holdings Inc.), Indenture (Assured Guaranty US Holdings Inc.), Indenture (Assured Guaranty LTD)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Securities Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Securities Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7. 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 3 contracts
Samples: Indenture (MGP Ingredients Inc), Indenture (Euronet Worldwide Inc), Indenture (Euronet Worldwide Inc)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee for the Securities of any series and no appointment of a successor Trustee for the Securities of such series pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with under Section 8.11 hereof.
(b) The Trustee, or any Trustee or Trustees hereafter appointed for the applicable requirements Securities of Section 6.11. The Trustee any series, may resign at any time with respect to the Securities of one or more or all such series by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 for the Securities of any series shall not have been delivered to the Trustee for the Securities of such series within 30 thirty days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to for the Securities of such series. .
(c) The Trustee for the Securities of any series may be removed at any time with respect to the Securities of any one or more or all such series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, one or more series (each voting as a class) delivered to the such Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 for the Securities of any series shall not have been delivered to the removed Trustee within 30 thirty days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee for the Securities of such series.
(d) If at any time:
(i) the Trustee for the Securities of any series shall fail to comply with Section 310(b) of the Trust Indenture Act with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 series after written request therefor by the Company or by any Holder of Securities of such series who has been a bona fide Holder of a Security of such series for at least six months, or
(2ii) the such Trustee shall cease to be eligible under Section 6.9 8.09 hereof and shall fail to resign after written request therefor by the Company or by any such HolderHolder of Securities, or
(3iii) the such Trustee shall become incapable of acting with respect to the Securities of such series or shall be adjudged a bankrupt or insolvent or a receiver of the such Trustee or of its property shall be appointed or any public officer shall take charge or control of the such Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A1) the Company by a Board Resolution may remove the Trustee with respect to all SecuritiesTrustee, or (B2) subject to Section 5.147.14 hereof, any Holder of a Security of such series who has been a bona fide Holder of a such Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the such Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. for the Securities of such series.
(e) If the Trustee for the Securities of any series shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for the Securities of any series for any cause, with respect to the Securities of one or more seriesCompany, the Company by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to for the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 for the Securities of any such 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to for the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to for the Securities of any such series shall have been so appointed by the Company or the such Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 for the Securities of such series. .
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to for the Securities of any series and each appointment of a successor Trustee with respect to for the Securities of any series to all Holders of Securities of such series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of the Securities of such series as their names and addresses appear in the manner provided in Section 1.7Securities Register. Each notice shall include the name of the such successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.
Appears in 3 contracts
Samples: Indenture (Citizens Funding Trust IV), Subordinated Debt Indenture (Citizens Funding Trust IV), Junior Subordinated Debt Indenture (Citizens Funding Trust IV)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 6.09.
(b) The Trustee may resign at any time with respect to the Securities of one or more series Series by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series Series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, Series delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 60 days after the receipt giving of such notice of removalresignation, the removed resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of TIA Section 6.8 310(b) after written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six 6 months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.07 and shall fail to resign after written request therefor by the Company or by any such HolderHolder of a Security who has been a bona fide Holder of a Security for at least 6 months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by or pursuant to a Board Resolution may remove the Trustee and appoint a successor Trustee with respect to all Securities, or (Bii) subject to TIA Section 5.14315(e), any Holder of a Security who has been a bona fide Holder of a Security for at least six 6 months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, cause with respect to the Securities of one or more seriesSeries, the Company Company, by or pursuant to a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series Series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series Series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Series). 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 Series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series Series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series Series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series Series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series Series for at least six 6 months may petitionmay, 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. Series.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series Series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series Series in the manner provided for notices to the Holders of Securities in Section 1.71.06. Each notice shall include the name of the successor Trustee with respect to the Securities of such series Series and the address of its Corporate Trust Office.
Appears in 3 contracts
Samples: Indenture (Boston Properties LTD Partnership), Indenture Agreement (Boston Properties LTD Partnership), Indenture (Boston Properties LTD Partnership)
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with pursuant to Section 609.
(2) Subject to Section 608(1) hereof, the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 609 has not been appointed or the instrument of acceptance by such successor Trustee shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 609 has not been appointed or the instrument of acceptance by such successor Trustee shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(4) If at any time:
(1a) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company or by any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or
(2b) the Trustee shall cease to be eligible under Section 6.9 607 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Company, by or pursuant to a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by or pursuant to a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11609. 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 aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11609, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.11609, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(6) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all the Holders of the Securities of such series in conformity with the manner provided in notice provisions of Section 1.7106. 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 3 contracts
Samples: Indenture (W. P. Carey Inc.), Indenture (W. P. Carey Inc.), Indenture (American Honda Finance Corp)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of under Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction at the expense of the Company Trustee for the appointment of a successor Trustee.
(c) The Trustee may be removed at any time by Act of the Majority Holders delivered to the Trustee and to the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the notice of removal, the Trustee being removed may petition, at the reasonable expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. Securities.
(d) If at any time:
(1i) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2ii) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or insolvent, or
(iv) a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution Company Order may remove the Trustee with respect to all SecuritiesTrustee, or (B) subject to Section 5.145.13, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of 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.
(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 Company Order, 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 Majority Holders 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 and accepted appointment in the manner hereinafter provided, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series Trustee.
(it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular seriesf) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 3 contracts
Samples: Indenture (Vector Group LTD), Indenture (Vector Group LTD), Indenture (Vector Group LTD)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 911.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 911 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, series delivered to the Trustee and to the Company. If ; provided that so long as any Preferred Securities remain outstanding, the instrument of acceptance by a successor Trustee required by Section 6.11 Trust which issued such Preferred Securities shall not have been delivered execute any Act to remove the removed Trustee within 30 days after without the receipt of such notice of removal, the removed Trustee may petition at the expense consent of the Company any court of competent jurisdiction for the appointment holders of a successor Trustee with respect majority in aggregate liquidation preference of Preferred Securities issued by such Trust outstanding, obtained as provided in the Trust Agreement pertaining to the Securities of such series. Trust.
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 908 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 909 and shall fail to resign after written request re- quest therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ax) the Company by a Board Resolution may remove the Trustee with respect to all Securities, Securities or (By) subject to Section 5.14814, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any causecause (other than as contemplated in clause (y) in subsection (d) of this Section), with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11911. 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 Company and the retiring Trustee, the successor succes- sor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11911, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11911, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, on behalf of himself itself 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) So long as no event which is, or after notice or lapse of time, or both, would become, an Event of Default shall have occurred and be continuing, and except with respect to a Trustee appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities pursuant to subsection (e) of this Section, if the Company shall have delivered to the Trustee (i) a Board Resolution appointing a successor Trustee, effective as of a date specified therein, and (ii) an instrument of acceptance of such appointment, effective as of such date, by such successor Trustee in accordance with Section 911, the Trustee shall be deemed to have resigned as contemplated in subsection (b) of this Section, the successor Trustee shall be deemed to have been appointed by the Company pursuant to subsection (e) of this Section and such appointment shall be deemed to have been accepted as contemplated in Section 911, all as of such date, and all other provisions of this Section and Section 911 shall be applicable to such resignation, appointment and acceptance except to the extent inconsistent with this subsection (f).
(g) The Company (or, should the Company fail so to act promptly, the successor trustee at the expense of the Company) shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee 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 manner provided in Section 1.7Security 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 Officecorporate trust office.
Appears in 3 contracts
Samples: Indenture (Texas Utilities Co /Tx/), Indenture (Montana Power Co /Mt/), Indenture (Montana Power Capital I)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt delivery of such notice the evidence of removalthe Act of the Holders, the removed Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(d) If at any time:
(1i) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder Xxxxxx who has been a bona fide Holder of a Security of a series as to which the Trustee has a conflicting interest for at least six months, or
(2ii) the Trustee for a series shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security for at least six months (and, in the case of clause (i) above, who is a holder of a Security of a series as to which the Trustee has a conflicting interest) may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of the Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more of or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by giving notice of such event to all Holders of Securities of such series in the manner as provided in by Section 1.71.06. 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 3 contracts
Samples: Subordinated Indenture (Lincoln National Corp), Subordinated Indenture (Lincoln National Corp), Senior Indenture (Lincoln National Corp)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee for the Securities of any series and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. 611.
(b) The Trustee for the Securities of any series may resign at any time with respect to the Securities of one or more such series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee for the Securities of such series within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee for the Securities of any series may be removed at any time with respect to the Securities of any such series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the such Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(d) If at any time:
(1) the Trustee for the Securities of any series shall fail to comply with Section 6.8 310(b) of the Trust Indenture Act pursuant to Section 608 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security of such series for at least six months, unless the Trustee's duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act, or
(2) the such Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the such Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the such Trustee or of its property shall be appointed or any public officer shall take charge or control of the such Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the such Trustee with respect to all Securities, or (Bii) subject to Section 5.14514, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the such Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Trustee.
(e) If the Trustee for the Securities of any series shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for the Securities of any series for any cause, with respect to the Securities of one or more seriesCompany, the Company by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) such series and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 such 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to for the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to for the Securities of any such series shall have been so appointed by the Company or the Holders and shall have accepted appointment in the manner required by Section 6.11611, the retiring and if such Trustee may petitionis still incapable of acting, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner and to the extent provided in Section 1.7106. Each notice shall include the name of the successor Trustee with respect to the Securities of such that series and the address of its Corporate Trust Office.
Appears in 3 contracts
Samples: Indenture (Philip Morris Companies Inc), Indenture (Philip Morris Companies Inc), Indenture (Kraft Foods Inc)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of pursuant to Section 6.11. 6.10.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.10 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act after written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.08 and shall fail to resign after written request therefor by the Company or by any such HolderHolder of a Security, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Aa) the Company Company, by a or pursuant to Board Resolution Resolution, may remove the Trustee with respect to all Securities, or (Bb) subject to Section 5.14, 315(c) of the Trust Indenture Act any Holder of a Security who has been a bona fide Holder of a Security of any series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a or pursuant to Board Resolution Resolutions, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.116.10. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.116.10, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.116.10, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by sending written notice of such event to all the Holders of Securities Securities, if any, of such series as their names and addresses appear in the manner provided in Section 1.7Security 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. Notwithstanding replacement of the Trustee pursuant to this Section 6.09, the Company’s obligations under Section 6.07 will continue for the benefit of the retiring Trustee.
Appears in 3 contracts
Samples: Subordinated Indenture (BNC Bancorp), Subordinated Indenture (Eagle Bancorp Inc), Subordinated Indenture (Eagle Bancorp Inc)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article Six shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of under Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, the removed Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee Trustee.
(d) If at any time with respect to the Securities any series of such series. If at any timeSecurities:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security of such series for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, such series of Securities or (Bii) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, cause with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. Trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of the Securities of any series one or more or all series, as the case may be, to all Holders of Securities of such series which the resignation, removal or appointment relates, as their names and addresses appear in the manner provided in Section 1.7Securities 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 3 contracts
Samples: Indenture (Burlington Resources Inc), Indenture (Burlington Resources Finance Co), Indenture (Burlington Resources Finance Co)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyPartnership. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the CompanyPartnership. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, 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 of such seriesTrustee. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company Partnership or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company Partnership or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by Partnership, acting pursuant to the authority of a Board Resolution Resolution, may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Partnership, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company Partnership and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyPartnership. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Partnership or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company Partnership shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 3 contracts
Samples: Subordinated Indenture (Buckeye Partners, L.P.), Indenture (Buckeye Partners L P), Indenture (Buckeye Partners L P)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or,
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 3 contracts
Samples: Indenture (Precision Computer Systems Inc), Indenture (Priorityhealthcare.com, Inc.), Indenture (Express Scripts Inc)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 610.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If the instrument of acceptance by a successor Trustee required by Section 6.11 610 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of not less than a majority in principal amount of the Outstanding Securities of such seriesNotes, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 610 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removalresignation, the removed resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of TIA Section 6.8 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 608 and shall fail to resign after written request therefor by the Company or by any such HolderHolder who has been a bona fide Holder of a Note for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Company, by a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesTrustee, or (Bii) subject to TIA Section 5.14315(e), any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Trustee. 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 Notes delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series Note for at least six months may petitionmay, 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. Trustee.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided for in Section 1.7106. 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 3 contracts
Samples: Indenture (Forida East Coast Railway L.L.C.), Indenture (Aircastle LTD), Indenture (Railamerica Inc /De)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such a notice of removalremoval pursuant to this paragraph, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11. 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 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. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.6. 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 3 contracts
Samples: Indenture (American Safety Insurance Holdings LTD), Indenture (American Safety Insurance Holdings LTD), Indenture (Clarksburg Skylark, LLC)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 609.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer upon three months’ notice or such shorter period as agreed to by the Issuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 609 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company Issuer any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of not less than a majority in principal amount of the Outstanding Securities of such seriesSecurities, delivered to the Trustee and to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 609 shall not have been delivered to the removed Trustee within 30 days after the receipt delivery of such notice of removalAct, the Trustee being removed Trustee may petition at the expense of the Company Issuer any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(d) If at any time:
(1) the Trustee shall fail to comply with the provisions of Trust Indenture Legislation or Section 6.8 606 after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 607 and shall fail to resign after written request therefor by the Company Issuer or by any such HolderHolder who has been a bona fide Holder of a Security for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Issuer, by a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesTrustee, or (Bii) subject to Section 5.14Trust Indenture Legislation, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more seriesIssuer, the Company by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such Trustee. If no successor Trustee may be shall have been appointed with respect to by the Securities of one or more or all of such series Issuer and that at any time there shall be only one Trustee with respect to accepted appointment in the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11. If, manner hereinafter provided within one year 30 days after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall may be appointed by Act of the Holders of a majority at least 25% in principal amount of the Outstanding Securities of such series delivered to the Company Issuer and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Issuer or the Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. Securities.
(f) The Company Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Holders of Securities of any series to all Holders of Securities of affected by such series resignation or removal, as the case may be, and appointment in the manner provided for in Section 1.7106. 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 3 contracts
Samples: Indenture (Brookfield Canada Office Properties), Indenture (Brookfield Canada Office Properties), Indenture (Brookfield Office Properties Canada)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 610.
(b) The Trustee may resign at any time with respect to the Securities securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 610 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Oustanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) . the Trustee shall cease to be eligible under Section 6.9 608 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) 2. the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14514, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of on himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11610. If, within one year after such resignation, removal 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 Oustanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11610, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11610, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner and to the extent provided in Section 1.7106. 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 3 contracts
Samples: Indenture (Thaxton Group Inc), Indenture (Thaxton Group Inc), Indenture (Thaxton Group Inc)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 7.11.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 7.11 shall not have been delivered to the Trustee within 30 10 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company Issuer may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. Issuer.
(d) If the instrument of acceptance by a successor Trustee required by Section 6.11 7.11 shall not have been delivered to the removed Trustee within 30 10 calendar days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition may, at the expense of the Company Issuer, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(e) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 7.08 after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 7.09 and shall fail to resign after written request therefor by the Company Issuer or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Issuer by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.146.14, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(f) 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, cause with respect to the Securities of one or more series, the Company Issuer, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.117.11. 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 Company Issuer and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.117.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyIssuer. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Issuer or the Holders and accepted appointment in the manner required by Section 6.117.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(g) The Company Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event to all Holders of Securities of such series as their names and addresses appear in the manner provided in Section 1.7Security 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 3 contracts
Samples: Indenture (Renaissance Centro Arlington, LLC), Indenture (Renaissance Centro Arlington, LLC), Indenture (Renaissance Centro Arlington, LLC)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee or Trustees pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee or Trustees in accordance with the applicable requirements of Section 6.11. 611.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. .
(d) If at any time the instrument Trustee shall fail to comply with Section 608(a) after written request therefor by the Company or by any Holder who has been a bona fide Holder of acceptance a Security for at least six months, the Company by a successor Trustee required by Section 6.11 shall not have been delivered to Board Resolution may remove the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. series or, subject to Section 514, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to the Securities of such series and the appointment of a successor Trustee.
(e) If at any time:
(1) the Trustee shall cease to be eligible under Section 609 and shall fail to comply with Section 6.8 resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14514, any Holder 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(f) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyCompany with respect to such series. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of the Securities of such series and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder holder of a Security of such series for at least six months may petitionmay, 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. .
(g) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities securities of any series 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 manner provided in Section 1.7Security 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 3 contracts
Samples: Indenture (PHH Corp), Indenture (PHH Corp), Indenture (PHH Corp)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Indenture Trustee in accordance with the applicable requirements of Section 6.11. 6.09.
(b) The Indenture Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the an instrument of acceptance by a successor Indenture Trustee required by Section 6.11 shall not have been delivered to the Indenture Trustee within 30 days after the giving of such notice of resignation, the resigning Indenture Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Indenture Trustee.
(c) The Indenture Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, series delivered to the Indenture Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(d) If at any time:
(1) the Indenture Trustee shall fail to comply with the provisions of TIA Section 6.8 310(b) after written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or
(2) the Indenture Trustee shall cease to be eligible under Section 6.9 6.07 and shall fail to resign after written request therefor by the Company or by any such HolderHolder of a Security who has been a bona fide Holder of a Security for at least six months, or
(3) the Indenture Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver 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, then, in any such case, (Ai) the Company by or pursuant to a Board Resolution may remove the Indenture Trustee and appoint a successor Indenture Trustee with respect to all Securities, or (Bii) subject to TIA Section 5.14315(e), any Holder of a Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Indenture Trustee with respect to all Securities and the appointment of a successor Indenture Trustee or Indenture Trustees. .
(e) If the Indenture Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Indenture Trustee for any cause, cause with respect to the Securities of one or more series, the Company Company, by or pursuant to a Board Resolution Resolution, shall promptly appoint a successor Indenture Trustee or Indenture Trustees with respect to the Securities of that or those series (it being understood that any such successor Indenture Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Indenture Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Indenture 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 Company and the retiring Indenture Trustee, the successor Indenture Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Indenture Trustee with respect to the Securities of such series and to that extent supersede the successor Indenture Trustee appointed by the Company. If no successor Indenture Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Indenture Trustee with respect to the Securities of such series. .
(f) The Company shall give notice of each resignation and each removal of the Indenture Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided for notices to the Holders of Securities in Section 1.71.06. Each notice shall include the name of the successor Indenture Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.
Appears in 3 contracts
Samples: Indenture (Beazer Homes Usa Inc), Indenture (Lexington Corporate Properties Trust), Indenture (Lexington Corporate Properties Trust)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee pursuant to this Article Section shall become effective until the acceptance of appointment by the successor Indenture Trustee in accordance with the applicable requirements of under Section 6.11. 7.13.
(b) The Indenture Trustee may resign at any time with respect to the Securities of one or more series by giving not less than sixty (60) days' prior written notice thereof to the CompanyTrust and the Holders of the Notes. If the an instrument of acceptance by a successor Indenture Trustee required by Section 6.11 shall not have been delivered to the Indenture Trustee within 30 thirty (30) days after the giving of such notice of resignation, the resigning Indenture Trustee may petition any court of competent jurisdiction at the expense of the Company Trust for the appointment of a successor Indenture Trustee and any and all amounts then due and owing to the retiring Indenture Trustee shall be paid in full.
(c) The Indenture Trustee may be removed at any time by an Act of Holders of Notes representing a majority of the aggregate principal amount of the Outstanding Notes, delivered to the Indenture Trustee and to the Trust. If an instrument of acceptance by a successor Indenture Trustee shall not have been delivered to the Indenture Trustee within thirty (30) days after the giving of such notice of removal, the Indenture Trustee being removed may petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Indenture Trustee with respect to the Securities of such series. The Trustee may be removed Notes.
(d) If at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. If at any time:
(1i) the Indenture Trustee shall cease to be eligible under Section 7.11 and shall fail to comply with Section 6.8 resign after written request therefor by the Company Trust or by any Holder (who has been a bona fide Holder of a Security Note for at least six months), or
(2ii) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a as bankrupt or insolvent insolvent, or a receiver or liquidator of the Indenture Trustee or of its property shall be appointed 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, then, in any such case, liquidation or (Aiii) the Company by a Board Resolution may remove Indenture Trustee shall fail to comply with the Trustee obligations imposed upon it under Section 310(b) of the Trust Indenture Act with respect to all Securities, the Notes after written request therefor by the Trust or (B) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security Note for at least six months, then, (x) the Trust (except during the existence of an Event of Default) by a Trust Order may remove the Indenture Trustee, or (y) subject to Section 6.14, any Holder who has been a bona fide Holder for at least six months may, on behalf of himself himself, herself or itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Indenture Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Indenture Trustee.
(e) If the Indenture Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of the Indenture Trustee for any cause, with respect to the Securities of one or more seriesreason, the Company Trust, by a Board Resolution Trust Order, shall promptly appoint a successor Indenture Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.117.13. If, within one year after such resignation, removal or incapability, incapability or the occurrence of such vacancy, a successor Indenture Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of Notes representing a majority in of the aggregate principal amount of the Outstanding Securities of such series Notes delivered to the Company Trust and the retiring Indenture Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.117.13, become the successor Indenture Trustee with respect to the Securities of such series and to that extent supersede the successor Indenture Trustee appointed by the CompanyTrust. If no successor Indenture Trustee with respect to the Securities of any series shall have been so appointed by the Company Trust or the Holders and shall have accepted appointment in the manner required by Section 6.11provided in the Indenture, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition(subject to Section 6.14), on behalf of himself himself, herself or itself 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. Indenture Trustee.
(f) The Company Trust shall give notice of each resignation and each removal of the Indenture Trustee with respect to the Securities of any series and each appointment of a successor Indenture Trustee with respect by mailing written notice of such event by first-class mail, postage prepaid, to the Securities of any series to all Holders of Securities of such series the Notes, if any, as their names and addresses appear in the manner provided in Section 1.7Register. Each notice shall include the name of the successor Indenture Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.
(g) Any successor Indenture Trustee shall satisfy all applicable requirements under the Indenture.
Appears in 3 contracts
Samples: Omnibus Instrument (Principal Life Insurance Co), Omnibus Instrument (Principal Life Insurance Co), Omnibus Instrument (Principal Life Insurance Co)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 8.8.
(b) The Trustee may resign at any time with respect to the Securities of one or more series Debentures by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 8.8 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Debentures.
(c) The Trustee may be removed at any time with respect to the Securities of any series Debentures by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, Debentures delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 8.8 shall not have been delivered to the removed Trustee within 30 days after the receipt delivery of such notice Act of removal, the Trustee being 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 of such series. Debentures.
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 310(b) of the Trust Indenture Act after written request therefor by the Company or by any Holder of a Debenture who has been a bona fide Holder of a Security Debenture for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 8.10 and Section 310(a) of the Trust Indenture Act and shall fail to resign after written request therefor by the Company or by any such HolderHolder of a Debenture who has been a bona fide Holder of a Debenture for at least six months, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all SecuritiesDebentures, or (Bii) subject to Section 5.14, 7.14 any Holder of a Debenture who has been a bona fide Holder of a Security Debenture for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities Debentures and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more seriesDebentures, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series Debentures (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular seriesDebentures) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.118.8. 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 Debentures shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series Debentures delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.118.8, become the successor Trustee with respect to the Securities of such series Debentures and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series Debentures shall have been so appointed by the Company or the Holders of Debentures and accepted appointment in the manner required by Section 6.118.8, the retiring Trustee may petition, or any Holder of a Debenture who has been a bona fide Holder of a Security of such series Debenture for at least six months may petitionmay, 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. Debentures.
(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series Debentures and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series Debentures in the manner provided in Section 1.7. 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 Office16.
Appears in 3 contracts
Samples: Indenture (Insignia Financing I), Indenture (Qualicomm Financial Trust I), Exchange Agreement (Insignia Financial Group Inc /De/)
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with the applicable requirements of pursuant to Section 6.11. 6.9.
(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.9 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(4) If at any time:
(1a) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company or by any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or
(2b) the Trustee shall cease to be eligible under Section 6.9 6.7 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Company, by or pursuant to a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by or pursuant to a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those such series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.116.9. If, within one year after such resignation, removal or incapabilityincapacity, 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.116.9, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed within three months after such appointment might have been made hereunder by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.116.9, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(6) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Registered Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of Payment located outside the manner provided in Section 1.7United States. 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.
(7) In no event shall any retiring Trustee be liable for the acts or omissions of any successor Trustee hereunder.
Appears in 3 contracts
Samples: Indenture (Cit Group Inc), Indenture (Cit Group Inc), Indenture (Cit Group Inc)
Resignation and Removal; Appointment of Successor. (1) 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 in accordance with the applicable requirements of pursuant to Section 6.11. 609.
(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 609 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(4) If at any time:
(1a) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company or by any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or
(2b) the Trustee shall cease to be eligible under Section 6.9 607 and shall fail to resign after written request therefor by the Company or by any Holder of a Security of such Holderseries who has been a bona fide Holder of a Security of such series for at least six months, or
(3c) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Company, by or pursuant to a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by or pursuant to a Company by a Request, Company Order or Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11609. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11609, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.11609, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. .
(6) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Registered Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of Payment located outside the manner provided in Section 1.7United States. 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 3 contracts
Samples: Indenture (CNF Transportation Inc), Indenture (CNF Transportation Inc), Indenture (CNF Transportation Inc)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of under Section 6.11. 610.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 610 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 610 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the removed resigning Trustee may petition at the expense of the Company petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with the obligations imposed upon it under Section 6.8 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 608 and shall fail to resign after written request therefor by the Company or by any such HolderHolder of a Security, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by a Board Resolution may remove the Trustee with respect to all SecuritiesSecurities or the Securities of such series, or (Bii) subject to Section 5.14315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of any series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11610. 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11610, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.11610, the retiring Trustee may petition, or any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all the Holders of Registered Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of Payment located outside the manner provided in Section 1.7United States. 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 3 contracts
Samples: Subordinated Indenture (Valero Energy Corp/Tx), Indenture (Valero Energy Corp/Tx), Subordinated Indenture (Vec Trust Ii)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall IX will become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. 9.10.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 9.10 shall not have been delivered to the Trustee within 30 calendar days after the giving of such notice of resignation, the resigning Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 9.10 shall not have been delivered to the removed Trustee within 30 calendar days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If .
(d) If, at any time:
, (1i) the Trustee shall fail fails to comply with Section 6.8 9.07 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2ii) the Trustee shall cease ceases to be eligible under Section 6.9 9.08 and shall fail fails to resign after written request therefor by the Company or by any such Holder, or
or (3iii) the Trustee shall become becomes incapable of acting or shall be is adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be is appointed or any public officer shall take takes charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation conservation, or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, Securities or (B) subject to Section 5.148.07, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resignresigns, be removed is removed, or become becomes incapable of acting, or if a vacancy shall occur occurs in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall will promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall will be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall will comply with the applicable requirements of Section 6.119.10. If, within one year after such resignation, removal removal, or incapability, incapability or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be is appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shallwill, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.119.10, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.119.10, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, on behalf of himself and all others similarly situated, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(f) The Company shall will give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders holders of Securities of such series in the manner provided in Section 1.713.03. Each notice shall will 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 3 contracts
Samples: Indenture (TrueBlue, Inc.), Indenture (Nanogen Inc), Indenture (Avnet Inc)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. 6.10.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.10 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series on 30 days prior written notice by Act of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of such seriesNotes, delivered to the Trustee and to the CompanyIssuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 6.10 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the removed Trustee designated for removal may petition petition, at the expense of the Company Issuer, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(d) If at any time:
(1) the Trustee shall cease to be eligible under Section 6.08 and shall fail to comply with Section 6.8 resign after written request therefor by the Company Issuer or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company Issuer, by a Board Resolution (or by a resolution of a duly authorized committee of the Board of Directors of the Issuer), may remove the Trustee with respect to all Securities, or (Bii) subject to Section 5.14, any Holder the Holders of at least 10% in aggregate principal amount of the then Outstanding Notes who has have been a bona fide Holder Holders of a Security Note for at least six months may, on behalf of himself themselves and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more seriesIssuer, the Company by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to Trustee. If the Securities of that or those series (it being understood that any such Issuer does not promptly appoint a successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 aggregate principal amount of the Outstanding Securities of such series Notes delivered to the Company Issuer and the retiring Trustee. In either case, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyIssuer. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Issuer or the Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series Note for at least six months may petitionmay, 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. Trustee.
(f) The Company Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series Notes in the manner provided for in Section 1.71.06. 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.
(g) The retiring Trustee shall not be liable for any of the acts or omissions of any successor Trustee appointed hereunder.
Appears in 3 contracts
Samples: Indenture (Lumen Technologies, Inc.), Indenture, Indenture (Qwest Corp)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.11. 611.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. .
(d) If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (Ai) the Company by or pursuant to a Board Resolution may remove the Trustee and appoint a successor Trustee with respect to all Securities, or (Bii) subject to Section 5.14514, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. .
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by or pursuant to a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. If, 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 3 contracts
Samples: Indenture (Sabre Holdings Corp), Indenture (Sabre Holding Corp), Indenture (Airtran Holdings Inc)
Resignation and Removal; Appointment of Successor. 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 in accordance with the applicable requirements of Section 6.11611. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition Trustee, at the expense of the Company Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount number of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 611 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the removed Trustee may petition being removed, at the expense of the Company Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14513, 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company Company, by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11611. 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 number of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11611, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7106. 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 3 contracts
Samples: Warrant Indenture (American International Group Inc), Warrant Indenture (Aig Capital Trust I), Warrant Indenture (American International Group Inc)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee pursuant to this Article shall VIII will become effective until the acceptance of appointment by the successor Indenture Trustee in accordance with the applicable requirements of under Section 6.11. 8.11.
(b) The Indenture Trustee may resign with respect to any Series or Class of Notes at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the an instrument of acceptance by a successor Indenture Trustee required by Section 6.11 shall not have been delivered to the Indenture Trustee within 30 days after the giving of such notice of resignation, the resigning Indenture Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Indenture Trustee.
(c) The Indenture Trustee may be removed with respect to any Series or Class of Notes at any time with respect to the Securities of any series by Act Action of the Majority Holders of a majority in principal amount of the Outstanding Securities of such seriesthat Series or Class, delivered to the Indenture Trustee and to the CompanyIssuer. If the an instrument of acceptance by a successor Indenture Trustee required by Section 6.11 shall not have been delivered to the removed Indenture Trustee within 30 days after the receipt giving of such notice of removal, the Indenture Trustee being 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 of such series. Indenture Trustee.
(d) If at any time:
(1i) the Indenture Trustee shall fail fails to comply with Section 6.8 310(b) of the Trust Indenture Act with respect to any Series or Class of Notes after written request therefor by the Company Issuer or by any Holder Noteholder who has been a bona fide Holder of a Security Note of that Series or Class for at least six 6 months, or
(2ii) the Indenture Trustee shall cease ceases to be eligible under Section 6.9 8.09 with respect to any Series or Class of Notes and shall fail fails to resign after written request therefor by the Company Issuer or by any such HolderNoteholder, or
(3iii) the Indenture Trustee shall become becomes incapable of acting with respect to any Series or shall be Class of Notes, or
(iv) the Indenture Trustee is adjudged a bankrupt or insolvent or a receiver of the Indenture Trustee or of its property shall be is appointed or any public officer shall take takes charge or control of the Indenture Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution Issuer may remove the Trustee Indenture Trustee, with respect to the Series or Class, or in the case of clause (iv), with respect to all SecuritiesSeries or Classes, or (B) subject to Section 5.147.17, any Holder Noteholder who has been a bona fide Holder of a Security Note of such Series and Class for at least six 6 months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Indenture Trustee with respect to all Securities such Series or Class and the appointment of a successor Indenture Trustee with respect to the Series or Trustees. Class, or, in the case of clause (iv), with respect to all Series and Classes.
(e) If the Indenture Trustee shall resignresigns, be is removed or become becomes incapable of actingacting with respect to any Series or Class of Notes, or if a vacancy shall occur in the office of the Indenture Trustee with respect to any Series or Class of Notes for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall Issuer will promptly appoint a successor Indenture Trustee for that Series or Trustees with respect to the Securities Class of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Notes. If, within one year after such resignation, removal or incapabilityincapacity, or the occurrence of such vacancy, a successor Indenture Trustee with respect to the Securities such Series or Class of any series shall be Notes is appointed by Act of the Majority Holders of a majority in principal amount of the Outstanding Securities of such series Series or Class delivered to the Company Issuer and the retiring Indenture Trustee, the successor Indenture Trustee so appointed shallwill, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Indenture Trustee with respect to the Securities of such series Series or Class and to that extent supersede the successor Indenture Trustee appointed by the CompanyIssuer with respect to such Series or Class of Notes. If no successor Indenture Trustee with respect to the Securities such Series or Class of any series Notes shall have been so appointed by the Company Issuer or the Holders Noteholders of such Series or Class and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder Noteholder who has been a bona fide Holder of a Security Note of such series Series or Class for at least six 6 months may petitionmay, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Indenture Trustee with respect to the Securities such Series or Class of such series. Notes.
(f) The Company shall Issuer will give written notice of each resignation and each removal of the Indenture Trustee with respect to the Securities any Series or Class of any series Notes and each appointment of a successor Indenture Trustee with respect to the Securities of any series Series or Class to all Holders of Securities of such series in the manner each Noteholder as provided in Section 1.71.06 and to each Note Rating Agency. To facilitate delivery of such notice, upon request by the Issuer, the Note Registrar shall provide to the Issuer a list of the relevant Registered Noteholders. Each notice shall will include the name of the successor Indenture Trustee with respect to the Securities of such series and the address of its principal Corporate Trust Office.
Appears in 3 contracts
Samples: Indenture (Barclays Dryrock Issuance Trust), Indenture (Dryrock Issuance Trust), Indenture (Dryrock Issuance Trust)
Resignation and Removal; Appointment of Successor. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. The Trustee or any successor hereafter appointed may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, upon written notice delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being removed Trustee may petition petition, at the expense of the Company Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:
(1) the Trustee shall fail to comply with Section 6.8 6.08 after written request therefor by the Company Company, the Guarantors or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor by the Company Company, the Guarantors or by any such Holder, or
(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, 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 Company by a Board Resolution or the Guarantors may remove the Trustee with respect to all Securities, Securities or (B) subject to Section 5.145.13, Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security such Securities for at least six months may, on behalf of himself themselves and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution or the Guarantors shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyCompany or the Guarantors. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company the Guarantors or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or Holders of 10% in aggregate principal amount of Securities of any Holder series who has have been a bona fide Holder Holders of a Security Securities of such series for at least six months may petitionmay, on behalf of himself themselves 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. The Company or the Guarantors shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 3 contracts
Samples: Indenture (Blue Owl Capital Inc.), Indenture (Carlyle Group L.P.), Indenture (Carlyle Group L.P.)
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee Collateral Agent and no appointment of a successor Trustee Collateral Agent pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Collateral Agent under Section 6.11. 4.10.
(b) The Trustee Collateral Agent may resign with respect to any Series, Class or Tranche of Asset Pool One Notes at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the an instrument of acceptance by a successor Trustee required by Section 6.11 Collateral Agent shall not have been delivered to the Trustee Collateral Agent within 30 days after the giving of such notice of resignation, the resigning Trustee Collateral Agent may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee Collateral Agent.
(c) The Collateral Agent may be removed with respect to the Securities any Series, Class or Tranche of such series. The Trustee may be removed Asset Pool One Notes at any time with respect to the Securities of any series by Act of the Majority Holders of a majority in principal amount that Series, Class or Tranche of the Outstanding Securities of such series, Asset Pool One Notes delivered to the Collateral Agent on behalf of the Indenture Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. Issuer.
(d) If at any time:
(1i) the Trustee shall fail Collateral Agent fails to comply with Section 6.8 310(b) of the Trust Indenture Act with respect to any Series, Class or Tranche of Notes after written request therefor by the Company Issuer or by any Holder Asset Pool One Noteholder who has been a bona fide Holder of a Security an Asset Pool One Note of that Series, Class or Tranche for at least six 6 months, or
(2ii) the Trustee shall cease Collateral Agent ceases to be eligible under Section 6.9 4.8 with respect to any Series, Class or Tranche of Asset Pool One Notes and shall fail fails to resign after written request therefor by the Company Issuer or by any such HolderAsset Pool One Noteholder, or
(3iii) the Trustee shall become Collateral Agent becomes incapable of acting with respect to any Series, Class or shall be Tranche of Asset Pool One Notes, or
(iv) the Collateral Agent is adjudged a bankrupt or insolvent or a receiver of the Trustee Collateral Agent or of its property shall be is appointed or any public officer shall take takes charge or control of the Trustee Collateral Agent or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution Issuer may remove the Trustee with respect to all Securities, Collateral Agent or (B) subject to Section 5.146.17 of the Indenture, any Holder Asset Pool One Noteholder who has been a bona fide Holder of a Security an Asset Pool One Note of such Series, Class and Tranche for at least six 6 months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee Collateral Agent with respect to all Securities such Series, Class or Tranche and the appointment of a successor Trustee Collateral Agent with respect to such Series, Class or Trustees. Tranche, or, in the case of clause (iv), with respect to all Series, Classes and Tranches.
(e) If the Trustee shall resignCollateral Agent resigns, be is removed or become becomes incapable of actingacting with respect to Asset Pool One, or if a vacancy shall occur in the office of Trustee the Collateral Agent with respect to Asset Pool One for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution Issuer shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Collateral Agent for Asset Pool One. If, within one year after such resignation, removal or incapabilityincapacity, or the occurrence of such vacancy, a successor Trustee Collateral Agent with respect to the Securities of any series shall be Asset Pool One is appointed by Act of the Majority Holders of a majority in principal amount of the Outstanding Securities of such series Asset Pool One Notes delivered to the Company Issuer and the retiring TrusteeCollateral Agent, the successor Trustee Collateral Agent so appointed shallwill, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee Collateral Agent with respect to Asset Pool One and supersede the successor Collateral Agent appointed by the Issuer with respect to Asset Pool One. If no successor Collateral Agent with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series Asset Pool One Notes shall have been so appointed by the Company Issuer or the Holders Asset Pool One Noteholders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder Asset Pool One Noteholder who has been a bona fide Holder of a Security of such series an Asset Pool One Note for at least six 6 months may petitionmay, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee Collateral Agent with respect to the Securities of such series. Asset Pool One.
(f) The Company Issuer shall give written notice of each resignation and each removal of the Trustee Collateral Agent with respect to the Securities of any series Asset Pool One and each appointment of a successor Trustee Collateral Agent with respect to the Securities of any series to all Holders of Securities of such series in the manner Asset Pool One provided in Section 1.71.06 of the Indenture and to each Note Rating Agency. To facilitate delivery of such notice, upon request by the Issuer, the Note Registrar shall provide to the Issuer a list of the relevant registered Noteholders. Each notice shall will include the name of the successor Trustee with respect to the Securities of such series Collateral Agent and the address of its principal Corporate Trust Office.
Appears in 3 contracts
Samples: Asset Pool Supplement (First Usa Credit Card Master Trust), Indenture (First Usa Credit Card Master Trust), Indenture (Bank One Delaware National Association)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of Section 6.117.12. ----
(a) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuers. If the instrument of acceptance by a successor Trustee required by Section 6.11 7.12 shall not have been delivered to the ---- Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(b) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such seriesNotes, delivered to the Trustee and to the CompanyIssuers. If the instrument of acceptance by a successor Trustee required by Section 6.11 7.12 shall not have been delivered to ---- the removed Trustee within 30 days after the receipt giving of such notice of removal, the Trustee being 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 of such seriesTrustee. If at any time:
(1i) the Trustee shall fail to comply with Section 6.8 7.09 after written request therefor by the Company Issuers or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2ii) the Trustee shall cease to be eligible under Section 6.9 7.10 and shall fail to resign after written request therefor by the Company Issuers or by any such Holder, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution Issuers may remove the Trustee with respect to all SecuritiesTrustee, or (B) subject to Section 5.146.11, any Holder who has been a bona fide Holder of a Security 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 with respect to all Securities and the appointment of a successor Trustee or Trustees. If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company by a Board Resolution shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees 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 Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7. 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 (Equistar Chemicals Lp), Indenture (Lyondell Chemical Co)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of under Section 6.11. .
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the CompanyIssuer. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company Issuer any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such seriesNotes, delivered to the Trustee and to the CompanyIssuer and the Guarantors. If the an instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt giving of such notice of removalresignation, the removed Trustee may petition at the expense of the Company Issuer any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. Trustee.
(d) If at any time:
(1i) the Trustee shall fail to comply with Section 6.8 6.09 after written request therefor by the Company Issuer or either of the Guarantors or by any Holder who has been a bona fide Holder of a Security Note for at least six months, or
(2ii) the Trustee shall cease to be eligible under Section 6.9 6.09 and shall fail to resign after written request therefor therefore by the Company Issuer or the Guarantors or by any such Holder, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company Issuer by a Board Resolution may remove the Trustee with respect to all SecuritiesTrustee, or (B) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee. If an instrument of acceptance by a successor Trustee or Trustees. shall not have been delivered to the Trustee within 30 days after the giving of such notice of removal, the retiring Trustee may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee.
(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more seriesIssuer, the Company by a Board Resolution Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Trustee. 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 Notes delivered to the Company Issuer and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the CompanyIssuer. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company Issuer or the Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series Note for at least six months may petitionmay, 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. Trustee.
(f) The Company Issuer shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.71.06. 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 (Converium Holding Ag), Indenture (Converium Holding Ag)
Resignation and Removal; Appointment of Successor. (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 in accordance with the applicable requirements of this Section 6.11. 6.09.
(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors of the Company, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If the an instrument of acceptance by a successor Trustee required by this Section 6.11 6.09 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition may, at the expense of the Company Company, petition any court of competent jurisdiction for the appointment of a successor Trustee.
(c) The Trustee may be removed at any time by Act of the Holders of not less than a majority in principal amount of the Outstanding Notes, delivered to the Trustee and to the Company.
(d) 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 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 Notes of such series. The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, 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 of such series. .
(e) If at any time:
(1i) the Trustee shall fail to comply with the provisions of TIA Section 6.8 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or
(2ii) the Trustee shall cease to be eligible under Section 6.9 6.08 and shall fail to resign after written request therefor by the Company or by any such HolderHolder who has been a bona fide Holder for at least six months, or
(3iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver Custodian 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, (Ai) the Company Company, by a Board Resolution Resolution, may remove the Trustee with respect to all SecuritiesTrustee, or (Bii) subject to TIA Section 5.14315(e), 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 removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. Trustee.
(f) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more seriesCompany, the Company by a Board Resolution of the Board of Directors of the Company, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and such successor Trustee or Trustees shall comply with the applicable requirements of Section 6.11Trustee. 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 Notes delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11hereinafter provided, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petitionmay, 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. Trustee.
(g) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided for in Section 1.71.06. 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 (Wheeler Real Estate Investment Trust, Inc.), Indenture (Wheeler Real Estate Investment Trust, Inc.)