Common use of Resignation of the Collateral Trustee Clause in Contracts

Resignation of the Collateral Trustee. (a) The Collateral Trustee may at any time, by giving 30 days' prior written notice to AWNA and the Secured Parties, resign (and shall, immediately upon its resignation or removal from its capacity as the Agent, resign) and be discharged of the responsibilities hereby created, such resignation to become effective upon the earlier of (i) 30 days from the date of such notice and (ii) the appointment of a successor collateral trustee or collateral trustees by the Required Lenders. If no successor collateral trustee or collateral trustees shall be appointed and approved within 30 days from the date of the giving of the aforesaid notice of resignation, the Collateral Trustee (notwithstanding the termination of all of its other duties and obligations hereunder by reason of such resignation) shall, or any Secured Party or AWNA may, apply to any court of competent jurisdiction to appoint a successor collateral trustee or collateral trustees (which may be an individual or individuals) to act until such time, if any, as a successor collateral trustee or collateral trustees shall have been appointed as above provided. Any successor collateral trustee or collateral trustees so appointed by such court shall immediately and without further act be superseded by any successor collateral trustee or collateral trustees approved by the Required Lenders as above provided. (b) If at any time the Collateral Trustee shall resign or otherwise become incapable of acting, or if at any time a vacancy shall occur in the office of Collateral Trustee for any other cause, a successor collateral trustee or collateral trustees may be appointed by the Required Lenders, and the powers, duties, authority and title of the predecessor collateral trustee or collateral trustees terminated and canceled without procuring the resignation of such predecessor collateral trustee or collateral trustees, and without any other formality (except as may be required by applicable law) other than appointment and designation of a successor collateral trustee or collateral trustees in writing, duly acknowledged, delivered to the predecessor collateral trustee or collateral trustees, and filed for record in each public office, if any, in which this Agreement is required to be filed. (c) The appointment and designation referred to in Section 6.07(b) shall, after any required filing, be full evidence of the right and authority to make the same and of all the facts therein recited, and this Agreement shall vest in such successor collateral trustee or collateral trustees, without any further act, deed or conveyance, all of the estate and title of its predecessor or their predecessors, and upon such filing for record the successor collateral trustee or collateral trustees shall become fully vested with all the estates, properties, rights, powers, trusts, duties, authority and title of its predecessor or their predecessors; but such predecessor or predecessors shall, nevertheless, on the written request of the Required Lenders, BFI or its or their successor collateral trustee or collateral trustees, execute and deliver an instrument transferring to such successor or successors all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor or predecessors hereunder and shall deliver all securities and moneys held by it or them to such successor collateral trustee or collateral trustees. (d) Any required filing for record of the instrument appointing a successor collateral trustees as hereinabove provided shall be at the expense of AWNA.

Resignation of the Collateral Trustee. (a) The Collateral Trustee may at any time, by giving 30 days' prior written notice to AWNA Aegis and the Secured PartiesAdministrative Agents, resign (and shall, immediately upon its resignation or removal from its capacity as the Agent, resign) and be discharged of the responsibilities hereby created, such resignation to become effective upon the earlier of (i) 30 60 days from the date of such notice and (ii) the appointment of a successor collateral trustee Collateral Trustee or collateral trustees Collateral Trustees by the Required LendersAdministrative Agents. If no successor collateral trustee Collateral Trustee or collateral trustees Collateral Trustees shall be appointed and approved within 30 60 days from the date of the giving of the aforesaid notice of resignation, the Collateral Trustee (notwithstanding the termination of all of its other duties and obligations hereunder by reason of such resignation) shall, or any Secured Party or AWNA Aegis may, apply to any court of competent jurisdiction to appoint a successor collateral trustee Collateral Trustee or collateral trustees Collateral Trustees (which may be an individual or individuals) to act until such time, if any, as a successor collateral trustee Collateral Trustee or collateral trustees Collateral Trustees shall have been appointed as above provided. Any successor collateral trustee Collateral Trustee or collateral trustees Collateral Trustees so appointed by such court shall immediately and without further act be superseded by any successor collateral trustee Collateral Trustee or collateral trustees Collateral Trustees approved by the Required Lenders Administrative Agents as above provided. (b) If at any time the Collateral Trustee shall resign or otherwise become incapable of acting, or if at any time a vacancy shall occur in the office of Collateral Trustee for any other cause, a successor collateral trustee Collateral Trustee or collateral trustees Collateral Trustees may be appointed by the Required LendersAdministrative Agents, and the powers, duties, authority and title of the predecessor collateral trustee Collateral Trustee or collateral trustees Collateral Trustees terminated and canceled without procuring the resignation of such predecessor collateral trustee Collateral Trustee or collateral trusteesCollateral Trustees, and without any other formality (except as may be required by applicable law) other than appointment and designation of a successor collateral trustee Collateral Trustee or collateral trustees Collateral Trustees in writing, writing duly acknowledged, delivered to the predecessor collateral trustee Collateral Trustee or collateral trusteesCollateral Trustees, and filed for record in each public office, if any, in which this Agreement is required to be filed. (c) The appointment and designation referred to in Section 6.07(b4.14(b) shall, after any required filing, be full evidence of the right and authority to make the same and of all the facts therein recited, and this Agreement shall vest in such successor collateral trustee Collateral Trustee or collateral trusteesCollateral Trustees, without any further act, deed or conveyance, all of the estate and title of its predecessor or their predecessors, and upon such filing for record the successor collateral trustee Collateral Trustee or collateral trustees Collateral Trustees shall become fully vested with all the estates, properties, rights, powers, trusts, duties, authority and title of its predecessor or their predecessors; but such . Such predecessor or predecessors shall, nevertheless, on the written request of the Required Lenders, BFI Administrative Agents or their or its successor Collateral Trustee or their successor collateral trustee or collateral trusteesCollateral Trustees, execute and deliver an instrument transferring to such successor or successors all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor or predecessors hereunder and shall deliver all securities and moneys funds held by it or them to such successor collateral trustee Collateral Trustee or collateral trusteesCollateral Trustees. (d) Any required filing for record of the instrument appointing a successor collateral trustees Collateral Trustees as hereinabove provided shall be at the expense of AWNAAegis.

Resignation of the Collateral Trustee. (a) The Collateral Trustee may at any time, by giving 30 days' prior written notice to AWNA and the Secured Parties, resign (and shall, immediately upon its resignation or removal from its capacity as the Agent, resign) and be discharged of the responsibilities hereby created, such resignation to become effective upon the earlier of (i) 30 days from the date of such notice and (ii) the appointment of a successor collateral trustee or collateral trustees by the Required Senior Lenders. If no successor collateral trustee or collateral trustees shall be appointed and approved within 30 days from the date of the giving of the aforesaid notice of resignation, the Collateral Trustee (notwithstanding the termination of all of its other duties and obligations hereunder by reason of such resignation) shall, or any Secured Party or AWNA may, apply to any court of competent jurisdiction to appoint a successor collateral trustee or collateral trustees (which may be an individual or individuals) to act until such time, if any, as a successor collateral trustee or collateral trustees shall have been appointed as above provided. Any successor collateral trustee or collateral trustees so appointed by such court shall immediately and without further act be superseded by any successor collateral trustee or collateral trustees approved by the Required Senior Lenders as above provided. (b) If at any time the Collateral Trustee shall resign or otherwise become incapable of acting, or if at any time a vacancy shall occur in the office of Collateral Trustee for any other cause, a successor collateral trustee or collateral trustees may be appointed by the Required Senior Lenders, and the powers, duties, authority and title of the predecessor collateral trustee or collateral trustees terminated and canceled without procuring the resignation of such predecessor collateral trustee or collateral trustees, and without any other formality (except as may be required by applicable law) other than appointment and designation of a successor collateral trustee or collateral trustees in writing, duly acknowledged, delivered to the predecessor collateral trustee or collateral trustees, and filed for record in each public office, if any, in which this Agreement is required to be filed. (c) The appointment and designation referred to in Section 6.07(b6.08(b) shall, after any required filing, be full evidence of the right and authority to make the same and of all the facts therein recited, and this Agreement shall vest in such successor collateral trustee or collateral trustees, without any further act, deed or conveyance, all of the estate and title of its predecessor or their predecessors, and upon such filing for record the successor collateral trustee or collateral trustees shall become fully vested with all the estates, properties, rights, powers, trusts, duties, authority and title of its predecessor or their predecessors; but such predecessor or predecessors shall, nevertheless, on the written request of the Required Senior Lenders, BFI or its or their successor collateral trustee or collateral trustees, execute and deliver an instrument transferring to such successor or successors all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor or predecessors hereunder and shall deliver all securities and moneys held by it or them to such successor collateral trustee or collateral trustees. (d) Any required filing for record of the instrument appointing a successor collateral trustees as hereinabove provided shall be at the expense of AWNA.

Resignation of the Collateral Trustee. (a) The Collateral Trustee may at any time, by giving 30 days' prior written notice to AWNA Warnaco and the Secured PartiesIndenture Trustee, resign (and shall, immediately upon its resignation or removal from its capacity as the Agent, resign) and be discharged of the responsibilities hereby created, such resignation to become effective upon the earlier of (i) 30 60 days from the date of such notice and (ii) the appointment of a successor collateral trustee or collateral trustees by the Required LendersHolders (or any agent or representative at their request). If no successor collateral trustee or collateral trustees shall be appointed and approved within 30 60 days from the date of the giving of the aforesaid notice of resignation, the Collateral Trustee (notwithstanding the termination of all of its other duties and obligations hereunder by reason of such resignation) shall, or any Secured Party or AWNA Warnaco may, apply to any court of competent jurisdiction to appoint a successor collateral trustee or collateral trustees (which may be an individual or individuals) to act until such time, if any, as a successor collateral trustee or collateral trustees shall have been appointed as above provided. Any successor collateral trustee or collateral trustees so appointed by such court shall immediately and without further act be superseded by any successor collateral trustee or collateral trustees approved by the Required Lenders Holders (or any agent or representative at their request) as above provided. (b) If at any time the Collateral Trustee shall resign or otherwise become incapable of acting, or if at any time a vacancy shall occur in the office of Collateral Trustee for any other cause, a successor collateral trustee or collateral trustees may be appointed by the Required LendersHolders (or any agent or representative at their request), and the powers, duties, authority and title of the predecessor collateral trustee or collateral trustees terminated and canceled without procuring the resignation of such predecessor collateral trustee or collateral trustees, and without any other formality (except as may be required by applicable law) other than appointment and designation of a successor collateral trustee or collateral trustees in writing, writing duly acknowledged, delivered to the predecessor collateral trustee or collateral trustees, and filed for record in each public office, if any, in which this Agreement is required to be filed. (c) The appointment and designation referred to in Section 6.07(b4.14(b) shall, after any required filing, be full evidence of the right and authority to make the same and of all the facts therein recited, and this Agreement shall vest in such successor collateral trustee or collateral trustees, without any further act, deed or conveyance, all of the estate and title of its predecessor or their predecessors, and upon such filing for record the successor collateral trustee or collateral trustees shall become fully vested with all the estates, properties, rights, powers, trusts, duties, authority and title of its predecessor or their predecessors; but such . Such predecessor or predecessors shall, nevertheless, on the written request of the Required Lenders, BFI Holders (or any agent or representative at their request) or their or its or their successor collateral trustee or collateral trustees, execute and deliver an instrument transferring to such successor or successors all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor or predecessors hereunder and shall deliver all securities and moneys funds held by it or them to such successor collateral trustee or collateral trustees. (d) Any required filing for record of the instrument appointing a successor collateral trustees as hereinabove provided shall be at the expense of AWNAWarnaco.