Resignation of the Trustee Sample Clauses

Resignation of the Trustee. (a) The Trustee may resign at any time by giving not less than ninety (90) days’ written notice thereof to the Beneficiary and to the Grantor. The Grantor and the Beneficiary jointly also may remove the Trustee at any time, without assigning any reason therefor, on ninety (90) days’ prior written notice thereof to the Trustee. Such resignation or removal shall become effective on the acceptance of appointment by a successor Trustee and the transfer to such successor Trustee of all Assets in the Trust Account in accordance with paragraph (b) of this Section 9. (b) Upon receipt of the Trustee’s notice of resignation or giving notice to the Trustee of removal, the Grantor and the Beneficiary shall promptly appoint a successor trustee. Any successor trustee shall be a bank that is a member of the Federal Reserve System and shall not be a parent, a subsidiary or an Affiliate of the Grantor or the Beneficiary. Upon the acceptance of the appointment as trustee hereunder by a successor trustee and the transfer to such successor Trustee of all Assets in the Trust Account, the resignation or removal of the Trustee shall become effective. Thereupon, such successor trustee shall succeed to and become vested with all the rights, powers, privileges and duties of the Trustee, and the Trustee shall be discharged from any future duties and obligations under this Agreement, but the Trustee shall continue after its resignation or removal to be entitled to the benefits of the indemnities provided herein for the Trustee.

Resignation of the Trustee. (a) The Trustee may resign by giving 30 days' prior written notice to the Advisory Board. In the case of the resignation of the Trustee, the Advisory Board shall appoint a Person to serve as successor Trustee, provided that such Person shall in all respects satisfy the requirements of Section 3807 of the Act, or any successor provision, and shall be a bank or trust company incorporated and doing business within the United States of America, whose business shall consist at least in part of serving as trustee in arrangements comparable to those contemplated hereby and having a combined capital and surplus of at least $50,000,000, if there be such an institution willing, able and legally qualified to perform the duties of the Trustee hereunder upon reasonable or customary terms. The appointment of the successor Trustee shall take effect concurrently with (i) the resignation of the former Trustee and (ii) the ratification of this Agreement, and no resignation of a Trustee shall be effective absent the concurrent appointment of a successor Trustee. (b) If a successor Trustee shall not have been appointed within 30 days after such notice of resignation, the Trustee or the Advisory Board may apply to any court of competent jurisdiction to appoint a successor Trustee to act until such time as a successor shall have been appointed as above provided. (c) Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation to which substantially all the corporate trust business of the Trustee may be transferred, shall, subject to such corporation satisfying in all respects the requirements set forth in Section 6.04(a), be the Trustee hereunder without further action. (d) Upon the substitution of the Person serving as Trustee, the successor Trustee shall file an amendment to the Certificate of Trust with the Secretary of State in accordance with the provisions of Section 3810 of the Act, indicating the change in the Trustee.

Resignation of the Trustee. (a) The Trustee may resign and appoint one of its Affiliates acting through an office as successor by giving notice to the other Finance Parties and the Issuer. (b) Alternatively the Trustee may resign by giving 30 days’ notice to the other Finance Parties and the Issuer, in which case the Majority Bridge Noteholders (after consultation with the Issuer) may appoint a successor Trustee. The Trustee shall not be obliged to provide any reason for such resignation and will not be responsible for any liabilities incurred by reason of such resignation. (c) If the Majority Bridge Noteholders have not appointed a successor Trustee in accordance with paragraph (b) above within 20 days after notice of resignation was given, the retiring Trustee (after consultation with the Bridge Noteholders and the Issuer) may appoint a successor Trustee. The Trustee is not bound to supervise or be responsible in any way or any loss incurred by reason of misconduct or default on the part of the successor trustee. (d) If the Trustee wishes to resign because (acting reasonably) it has concluded that it is no longer appropriate for it to remain as agent and the Trustee is entitled to appoint a successor under paragraph (c) above, the Trustee may (if it concludes (acting reasonably) that it is necessary to do so in order to persuade the proposed successor to become a party to this Agreement or any other Bridge Finance Document as Trustee) agree with the proposed successor amendments to this Clause 16.11 and any other term of this Agreement or any other Bridge Finance Document dealing with the rights or obligations of the Trustee consistent with then current market practice for the appointment and protection of corporate trustees together with any reasonable amendments to the agency fee payable under this Agreement which are consistent with the successor Trustee’s normal fee rates and those amendments will bind the Parties. (e) The retiring Trustee shall: (i) make available to the successor Trustee such documents and records and provide such assistance as the successor Trustee may reasonably require for the transfer or assignment of all of its rights and benefits under the Bridge Finance Documents to the successor Trustee; and (ii) enter into and deliver to the successor Trustee those documents and effect any registrations as may be reasonably required for the transfer or assignment of all of its rights and benefits under the Bridge Finance Documents to the successor Trustee. (f) The Is...

Resignation of the Trustee. Any Trustee acting hereunder may resign at any time by giving notice in writing to the Sponsor at least 60 days before such resignation is to become effective, unless the Sponsor shall accept as adequate a shorter notice.

Resignation of the Trustee. Subject to Sections 8.10 and 8.11 below, the Trustee may resign as trustee of the Trust by means of a written notice delivered to the Manager and the Common Representative at least 60 (sixty) calendar days in advance of the effective date of such resignation, and only in the cases set forth in Article 391 of the LGTOC. Immediately following the receipt of the Trustee’s resignation notice by the Manager and the Common Representative, the Manager will appoint a substitute Trustee; provided, that the resigning Trustee shall not cease to be the Trustee hereunder until the substitute Trustee signs and delivers the acknowledgment referred to in Section 8.11(b).

Resignation of the Trustee. The Trustee may at any time resign as Trustee under the Trust Agreement by written notice of its election so to do delivered to the Owners, such resignation to take effect no earlier than sixty (60) days after the date of such notice. Whenever the Trustee in its discretion determines that it is in the best interest of the Owners of Receipts to do so, it may appoint an additional Trustee or Trustees.

Resignation of the Trustee. The Trustee may resign at any time by delivering a written notice of resignation to the Company. The resignation shall take effect on the date set forth in such notice, which shall be no earlier than 60 days from the date of such delivery to the Company unless a shorter time has been agreed upon in writing by the Trustee and the Company; provided that a successor trustee has been appointed pursuant to Section 5.6.2 or Section 5.6.4 hereof.

Resignation of the Trustee. (a) The Trustee may resign at any time by giving not less than ninety (90) days’ written notice thereof to the Beneficiary and to the Grantor. The Grantor and the Beneficiary jointly also may remove the Trustee at any time, without assigning any reason therefor, on ninety (90) days’ prior written notice thereof to the Trustee. Such resignation or removal shall become effective on the acceptance of appointment by a successor Trustee and the transfer to such successor Trustee of all the Assets in accordance with Section 13(b).

Resignation of the Trustee. The Trustee may resign by an instrument in writing signed by the Trustee and filed with the Court with notice to the Executive Committee, provided that unless otherwise agreed by the Executive Committee or ordered by the Court, the Trustee shall continue to serve as such after his resignation for thirty (30) days or, if longer, until the time when appointment of his successor shall become effective in accordance with Section 4.03 hereof.

Resignation of the Trustee. The Trustee may resign as trustee of any Fund by giving notice in writing to the Unitholders not less than 60 days prior to the date when such resignation shall take effect. Subject to Section 11.4, the resignation shall take effect on the date specified in the notice, unless prior to that date a successor trustee has been appointed in accordance with this Article in which case the resignation shall take effect immediately upon the appointment of the successor trustee or upon a date otherwise agreed to by the Manager and the successor trustee. Any successor trustee, by accepting appointment as such, shall automatically become a party to this Declaration of Trust and be bound by the terms hereof as if the successor trustee had been an original signatory hereof, provided that such successor trustee shall not be responsible or liable for any act or omission of the prior trustee preceding its appointment as successor trustee. The resignation of the Trustee of a Fund and the appointment of a successor trustee shall not be deemed to terminate that Fund.