Common use of Resignation or Removal of Custodian Clause in Contracts

Resignation or Removal of Custodian. (a) Subject to the provisions of Section 9.05(c), the Custodian may, at any time, tender its resignation by giving written notice thereof to the Co-Owners, the Credit Enhancement Providers, if any, the Seller and the Servicer and, upon the receipt and acceptance thereof by the Servicer, on behalf of the Seller, the Co-Owners and any Credit Enhancement Providers, shall be discharged from its obligations and duties hereunder. Upon receiving such notice, the Co-Owners and the Seller shall promptly seek to retain a successor Xxxxxxxxx and, subject to acceptance by the Servicer of the resignation of the resigning Custodian, shall appoint such Person by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Custodian and one copy to the successor Custodian. If no successor Xxxxxxxxx shall have been so appointed or shall have accepted an appointment within 30 days after the giving of such notice of resignation, the Servicer or the resigning Custodian shall petition any court of competent jurisdiction for the appointment of a successor Xxxxxxxxx. The Servicer shall not accept the resignation of the resigning Custodian until a successor Xxxxxxxxx has been appointed and has agreed to act as Custodian in accordance with the terms hereof.

Resignation or Removal of Custodian. (a1) Subject to the provisions of Section 9.05(c11.6(3), the Custodian may, may at any time, time tender its resignation by giving written notice thereof to the Co-Owners, the Credit Enhancement Providers, if anyOwners (or their Agent on their behalf), the Seller and the Servicer and, upon the receipt and acceptance thereof by the Servicer, on behalf of the Seller, Seller and the Co-Owners and any Credit Enhancement ProvidersOwners, shall be discharged from its obligations and duties hereunder. Upon receiving such notice, the Co-Owners (or their Agent on their behalf) and the Seller shall promptly seek to retain a successor Xxxxxxxxx Custodian and, subject to acceptance by the Servicer of the resignation of the resigning Custodian, shall appoint such Person by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Custodian and one copy to the successor Custodian. If no successor Xxxxxxxxx Custodian shall have been so appointed or shall have accepted an appointment within 30 days after the giving of such notice of resignation, the Servicer or the resigning Custodian shall may petition any court of competent jurisdiction for the appointment of a successor XxxxxxxxxCustodian. The Servicer shall not accept the resignation of the resigning Custodian until a successor Xxxxxxxxx Custodian has been appointed and has agreed to act as Custodian in accordance with the terms hereof.

Resignation or Removal of Custodian. (a1) Subject to the provisions of Section 9.05(c11.6(3), the Custodian may, may at any time, time tender its resignation by giving written notice thereof to the Co-Owners, the Credit Enhancement Providers, if anyOwners (or their Agent on their behalf), the Seller and the Servicer and, upon the receipt and acceptance thereof by the Servicer, on behalf of the Seller, Seller and the Co-Owners and any Credit Enhancement ProvidersOwners, shall be discharged from its obligations and duties hereunder. Upon receiving such notice, the Co-Owners (or their Agent on their behalf) and the Seller shall promptly seek to retain a successor Xxxxxxxxx Custodian and, subject to acceptance by the Servicer of the resignation of the resigning Custodian, shall appoint such Person by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Custodian and one copy to the successor Custodian. If no successor Xxxxxxxxx shall have been so appointed or shall have accepted an appointment within 30 days after the giving of such notice of resignation, the Servicer or the resigning Custodian shall may petition any court of competent jurisdiction for the appointment of a successor Xxxxxxxxx. The Servicer shall not accept the resignation of the resigning Custodian until a successor Xxxxxxxxx has been appointed and has agreed to act as Custodian in accordance with the terms hereof.

Resignation or Removal of Custodian. (a) Subject to the provisions of Section 9.05(c), the Custodian may, at any time, tender its resignation by giving written notice thereof to the Co-Owners, the Credit Enhancement Providers, if any, the Seller and the Servicer and, upon the receipt and acceptance thereof by the Servicer, on behalf of the Seller, the Co-Owners and any Credit Enhancement Providers, shall be discharged from its obligations and duties hereunder. Upon receiving such notice, the Co-Owners and the Seller shall promptly seek to retain a successor Xxxxxxxxx Custodian and, subject to acceptance by the Servicer of the resignation of the resigning Custodian, shall appoint such Person by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Custodian and one copy to the successor Custodian. If no successor Xxxxxxxxx Custodian shall have been so appointed or shall have accepted an appointment within 30 days after the giving of such notice of resignation, the Servicer or the resigning Custodian shall petition any court of competent jurisdiction for the appointment of a successor XxxxxxxxxCustodian. The Servicer shall not accept the resignation of the resigning Custodian until a successor Xxxxxxxxx Custodian has been appointed and has agreed to act as Custodian in accordance with the terms hereof.