Common use of Resignation of Indenture Trustee; Appointment of Clause in Contracts

Resignation of Indenture Trustee; Appointment of. Successor. (a) The Indenture Trustee or any successor thereto may resign at --------- any time without cause by giving at least thirty (30) days prior written notice to the Owner Trust, the Owner Participant, the Charterer and each Holder, such resignation to be effective upon the acceptance of the trusteeship by a successor Indenture Trustee as provided in Section 8.02(b). In addition, a Majority in Interest of Holders of Notes may at any time remove the Indenture Trustee without cause by an instrument in writing delivered to the Owner Trust, the Owner Participant, the Charterer and the Indenture Trustee, such removal to be effective upon the acceptance of the trusteeship by a successor Indenture Trustee as provided in Section 8.02(b). In the case of the resignation or removal of the Indenture Trustee, the Owner Trust may appoint a successor Indenture Trustee. If a successor Indenture Trustee shall not have been appointed within thirty (30) days of such notice of resignation or removal, the Indenture Trustee, the Owner Trust, the Owner Participant, the Charterer or a Majority in Interest of Holders may apply to any court of competent jurisdiction to appoint a successor Indenture Trustee qualified under Section 8.02(c) to act until such time, if any, as a successor shall have been appointed as above provided in this Section 8.02. The successor Indenture Trustee so appointed by such court shall immediately and without further act be superseded by any successor Indenture Trustee appointed as above provided in this Section 8.02.

Resignation of Indenture Trustee; Appointment of. Successor. (a) The Indenture Trustee or any successor thereto may resign at any --------- any time without cause by giving at least thirty (30) days calendar days, prior written notice to the Owner TrustParticipant, the Lessee, the Owner Participant, the Charterer Trustee and each HolderNoteholder, such resignation to be effective upon the acceptance of the trusteeship by a successor Indenture Trustee as provided in Section 8.02(b)Trustee. In addition, a Majority in Interest of Holders of Notes Noteholders may at any time remove the Indenture Trustee without cause by an instrument in writing delivered to the Owner TrustParticipant, the Owner ParticipantTrustee, the Charterer Lessee and the Indenture Trustee, and the Owner Trustee shall promptly notify each Noteholder thereof in writing, such removal to be effective upon the acceptance of the trusteeship by a successor Indenture Trustee as provided in Section 8.02(b)Trustee. In the case of the resignation or removal of the Indenture Trustee, the Owner Trust a majority in Interest of Noteholders may appoint a successor Indenture TrusteeTrustee by an instrument signed by such Noteholders. If a successor Indenture Trustee shall not have been appointed within thirty (30) calendar days of after such notice of resignation or removal, the Indenture Trustee, the Owner Trust, the Owner Participant, the Charterer Trustee or a Majority in Interest of Holders any Noteholder may apply to any court of competent jurisdiction to appoint a successor Indenture Trustee qualified under Section 8.02(c) to act until such time, if any, as a successor shall have been appointed as above provided in this Section 8.02provided. The successor Indenture Trustee so appointed by such court shall immediately and without further act be superseded by any successor Indenture Trustee appointed as above provided in this Section 8.02within one year from the date of the appointment by such court.