Common use of Resignation of Owner Trustee; Appointment of Successor Clause in Contracts

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ prior written notice to the Owners, such resignation to be effective upon the acceptance of appointment by a successor owner trustee under Section 10.01(b) below. In addition, the Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner Trustee, such removal to be effective upon the acceptance of appointment by a successor owner trustee under Section 10.01(b) below. In case of the resignation or removal of the Owner Trustee, the Owners may appoint a successor owner trustee by an instrument signed by the Owners. If a successor owner trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee to act until such time, if any, as a successor owner trustee shall have been appointed as provided above. Any successor owner trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ ' prior written notice to the Owners, such resignation to be effective upon the acceptance of appointment by a successor owner trustee under Section 10.01(b) below. In addition, the Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner Trustee, such removal to be effective upon the acceptance of appointment by a successor owner trustee under Section 10.01(b) below. In case of the resignation or removal of the Owner Trustee, the Owners may appoint a successor owner trustee by an instrument signed by the Owners. If a successor owner trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee to act until such time, if any, as a successor owner trustee shall have been appointed as provided above. Any successor owner trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ prior written notice to the OwnersAdministrator, the Owners and the Administrative Agent, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In addition, the Super-majority Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner TrusteeTrustee and the Administrator, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In case of the resignation or removal of the Owner Trustee, the Owners may appoint a successor owner trustee Owner Trustee by an instrument signed by the Owners. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ ' prior written notice to the OwnersAdministrator, the Owners and the Administrative Agent, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In addition, the Super-majority Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner TrusteeTrustee and the Administrator, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In case of the resignation or removal of the Owner Trustee, the Owners may appoint a successor owner trustee Owner Trustee by an instrument signed by the Owners. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ ' prior written notice to the Administrator and the Owners, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In addition, the Super-majority Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner TrusteeTrustee and the Administrator, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In case of the resignation or removal of the Owner Trustee, the Owners may appoint a successor owner trustee Owner Trustee by an instrument signed by the Owners. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee Xxxxxxx may resign at any time without cause by giving at least 60 days’ prior written notice to the OwnersAdministrator, the Owners and the Administrative Agent, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In addition, the Super-majority Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner TrusteeTrustee and the Administrator, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In case of the resignation or removal of the Owner Trustee, the Owners may appoint a successor owner trustee Owner Trustee by an instrument signed by the Owners. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ ' prior written notice to the Owners, such resignation to be effective upon on the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b9.01(b) belowhereof. In addition, the Owners may holding in the aggregate a majority Ownership Percentage, may, with the consent of the Note Trustee, at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner Trustee, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b9.01(b) belowhereof. In Subject to the approval of the Note Trustee, in case of the resignation or removal of the Owner Trustee, the Owners may shall use their best efforts to appoint a successor owner trustee Owner Trustee by an instrument signed by Owners holding in the Ownersaggregate a majority Ownership Percentage in the Trust. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee shall have been appointed by the Owners as provided aboveabove provided. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed by the Owners as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ ' prior written notice to the OwnersOwner, such resignation to be effective upon on the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b(b) below. In addition, the Owners Owner Trustee may be removed (i) at any time remove by the Owner Trustee Depositor, without cause cause, by an instrument in writing delivered to the Owner Trustee, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b9.01(b) belowor (ii) by action of the Certificateholders holding Percentage Interests aggregating at least 66 2/3%. In case of the resignation or removal of the Owner Trustee, the Owners Depositor may appoint a successor owner trustee Owner Trustee by an instrument signed by the OwnersDepositor. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners Depositor may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee shall have been appointed as provided aboveabove provided. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ prior written notice to the Administrator and the Owners, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In addition, the Super-majority Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner TrusteeTrustee and the Administrator, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In case of the resignation or removal of the Owner Trustee, the Owners may appoint a successor owner trustee Owner Trustee by an instrument signed by the Owners. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ ' prior written notice to the OwnersOwner, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below. In addition, the Owners Owner may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner Trustee, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below. In case of the resignation or removal of the Owner Trustee, the Owners Owner may appoint a successor owner trustee Owner Trustee by an instrument signed by the OwnersOwner. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners Owner may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ ' prior written notice to the OwnersOwner Participant, the Indenture Trustee and the Lessee, such resignation to be effective upon the acceptance pursuant to Section 9.1(b) of appointment the trusteeship by a successor owner trustee under Section 10.01(b) belowOwner Trustee. In addition, the Owners Owner Participant may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner TrusteeTrustee and the Lessee, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b9.1(b) belowhereof. In case of the resignation or removal of the Owner Trustee, Trustee the Owners Owner Participant may appoint a successor owner trustee Owner Trustee by an instrument signed by the OwnersOwner Participant. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee, the Indenture Trustee or the Owners Owner Participant may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee shall have been appointed as provided aboveabove provided. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ ' prior written notice to the Owners, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below. In addition, the Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner Trustee, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below. In case of the resignation or removal of the Owner Trustee, the Owners may appoint a successor owner trustee Owner Trustee by an instrument signed by the Owners. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 90 days’ ' prior written notice to the Owners, such resignation to be effective upon on the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b12.01(b) belowbelow approved by the Majority Owners. In addition, the Majority Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner Trustee, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b12.01(b) belowbelow approved by the Majority Owners. In case of the resignation or removal of the Owner Trustee, the Majority Owners may shall use their best efforts promptly to appoint a successor owner trustee Successor Owner Trustee by an instrument signed by the Majority Owners. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Majority Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee appointed as above provided within one year from in the date of the appointment by such courtpreceding sentence.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ ' prior written notice to the OwnersAdministrator, the Owners and the Bond Insurer, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In addition, the Super-majority Owners may with the consent of the Bond Insurer at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner TrusteeTrustee and the Administrator, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In case of the resignation or removal of the Owner Trustee, the Owners may with the consent of the Bond Insurer appoint a successor owner trustee Owner Trustee by an instrument signed by the Owners. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 90 days’ ' prior written notice to the OwnersCertificateholders, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below. In addition, the Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner Trustee, such removal to be effective upon the acceptance of appointment by a successor owner trustee under Section 10.01(b10.1 (b) below. In case of the resignation or removal of the Owner Trustee, the Owners may Administrator shall appoint a successor owner trustee by an instrument signed by the OwnersOwner Trustee. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners Administrator may apply to any court of competent jurisdiction jurisdiction, at the expense of the Issuer, to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ prior written notice to the OwnersAdministrator, the Owners and the Administrative Agent, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In addition, the Super­ majority Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner TrusteeTrustee and the Administrator, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In case of the resignation or removal of the Owner Trustee, the Owners may appoint a successor owner trustee Owner Trustee by an instrument signed by the Owners. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee Xxxxxxx may resign at any time without cause by giving at least 60 days’ prior written notice to the OwnersAdministrator, the Owners and the Administrative Agent, such resignation to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In addition, the Super­majority Owners may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner TrusteeTrustee and the Administrator, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b) below12.01(b). In case of the resignation or removal of the Owner Trustee, the Owners may appoint a successor owner trustee Owner Trustee by an instrument signed by the Owners. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee Owner Trustee shall have been appointed as provided above. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.

Resignation of Owner Trustee; Appointment of Successor. (a) The Owner Trustee may resign at any time without cause by giving at least 60 days’ , prior written notice to the Ownersowner Participant and the Lessee, such resignation to be effective upon the acceptance pursuant to Section 9.1(b) of appointment the trusteeship by a successor owner trustee under Section 10.01(b) belowOwner Trustee. In addition, the Owners Owner Participant may at any time remove the Owner Trustee without cause by an instrument in writing delivered to the Owner TrusteeTrustee and the Lessee, such removal to be effective upon the acceptance of appointment by a successor owner trustee Owner Trustee under Section 10.01(b9.1(b) belowhereof. In case of the resignation or removal of the Owner Trustee, Trustee the Owners Owner Participant may appoint a successor owner trustee Owner Trustee by an instrument signed by the OwnersOwner Participant. If a successor owner trustee Owner Trustee shall not have been appointed within 30 days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Owner Trustee or the Owners Owner Participant may apply to any court of competent jurisdiction to appoint a successor owner trustee Owner Trustee to act until such time, if any, as a successor owner trustee shall have been appointed as provided aboveabove provided. Any successor owner trustee Owner Trustee so appointed by such court shall immediately and without further act be superseded by any successor owner trustee Owner Trustee appointed as above provided within one year from the date of the appointment by such court.