Common use of Resignation and Removal of Indenture Trustee Clause in Contracts

Resignation and Removal of Indenture Trustee. The Indenture Trustee may resign as to all or any of the Series of the Equipment Notes at any time without cause by giving at least sixty (60) days’ prior written notice to Issuer, the Manager, the Administrator and the Holders, provided that the Indenture Trustee shall continue to serve as Indenture Trustee until a successor has been appointed pursuant to Section 7.02 hereof. The Requisite Majority may at any time remove the Indenture Trustee as to such Series without cause by an instrument in writing delivered to Issuer, the Manager, the Administrator and the Indenture Trustee being removed. In addition, Issuer may remove the Indenture Trustee as to any of the Series of the Equipment Notes if: (i) such Indenture Trustee fails to comply with Section 7.02(d) hereof, (ii) such Indenture Trustee is adjudged a bankrupt or an insolvent, (iii) a receiver or public officer takes charge of such Indenture Trustee or its property or (iv) such Indenture Trustee becomes incapable of acting. References to the Indenture Trustee in this Master Indenture include any successor Indenture Trustee as to all or any of the Series of the Equipment Notes appointed in accordance with this Article VII.

Resignation and Removal of Indenture Trustee. The Indenture Trustee may resign as Indenture Trustee with respect to all or any of the Series of the Equipment Notes Securities at any time without cause by giving at least sixty (60) days’ prior written notice to the Issuer, the ManagerServicer, the Administrator and the Holders, provided that the Indenture Trustee shall continue to serve as Indenture Trustee until a successor has been appointed pursuant to Section 7.02 hereof7.02. The Requisite Majority may at any time remove the Indenture Trustee as to such Series without cause by an instrument in writing delivered to the Issuer, the ManagerServicer, the Administrator and the Indenture Trustee being removed. In addition, the Issuer may remove the Indenture Trustee as to any of the Series of the Equipment Notes if: (i) such Indenture Trustee fails to comply with Section 7.02(d) hereof), (ii) such Indenture Trustee is adjudged a bankrupt or an insolvent, (iii) a receiver or public officer takes charge of such Indenture Trustee or its property or (iv) such Indenture Trustee becomes incapable of acting. References to the Indenture Trustee in this Master Indenture include any successor Indenture Trustee as to all or any of the Series of the Equipment Notes appointed in accordance with this Article VII7.