Common use of Resignation by Trustee Clause in Contracts

Resignation by Trustee. If the Trustee desires to resign at any time from the trusts created by this Master Indenture, its shall give notice to NVTC and each Owner of Bonds then Outstanding, but shall continue to serve as Trustee until such time as a successor Trustee is appointed. If a successor Trustee has not been appointed within 30 days, the Trustee shall have the right to petition a court of competent jurisdiction for appointment of a successor Trustee and such resignation shall become effective upon designation of such successor Trustee.

Resignation by Trustee. If the Trustee desires to resign at any time from the trusts created by this Master Indenture, its shall give notice to NVTC HRTAC and each Owner of Bonds then Outstanding, but shall continue to serve as Trustee until such time as a successor Trustee is appointed. If a successor Trustee has not been appointed within 30 thirty days, the Trustee shall have the right to petition a court of competent jurisdiction for appointment of a successor Trustee and such resignation shall become effective upon designation of such successor Trustee.

Resignation by Trustee. If In the event the Trustee desires to ------------ ---------------------- resign at any time from the trusts created by this Master Indenture, its it shall give notice to NVTC the Issuer, the Borrower and each Owner Bondholder of Bonds then Outstanding, but shall continue to serve as Trustee until such time as a successor Trustee is appointed. If a successor Trustee has not been appointed within 30 days, the The Trustee shall have the right to petition a court of competent jurisdiction for appointment of a successor Trustee Trustee, and such its resignation shall become effective only upon designation of such successor Trustee.