Resignation or Removal of Delaware Trustee. (a) No resignation or removal of the Delaware Trustee and no appointment of a successor Delaware Trustee pursuant to this Section 10.02 will become effective until the acceptance of appointment by the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee. (b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a successor Delaware Trustee will not have been delivered to the Delaware Trustee within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee. (c) The Delaware Trustee may be removed at any time by written notice of the Certificateholders, delivered to the Delaware Trustee and the Trustor. (d) If at any time the Delaware Trustee will cease to be eligible under Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolvent, or a receiver of the Delaware Trustee or of its property will be appointed, or any public officer will take charge or control of the Delaware Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case the Directing Certificateholder may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Delaware Trustee and the appointment of a successor Delaware Trustee. (e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
Appears in 21 contracts
Samples: Trust Agreement, Trust Agreement, Trust Agreement
Resignation or Removal of Delaware Trustee. (a) No resignation or removal The Delaware Trustee may at any time resign and be discharged from its appointment as trustee of the Delaware Trustee and no appointment Trust hereby created by giving written notice thereof to the Issuer Administrator. Upon receiving such notice of resignation, the Issuer Administrator shall promptly appoint a successor Delaware Trustee pursuant meeting the eligibility requirements of Section 10.01 hereof by written instrument, in duplicate, one copy of which instrument shall be delivered to this Section 10.02 will become effective until the acceptance of appointment by resigning Delaware Trustee, and one copy to the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a no successor Delaware Trustee will not shall have been delivered to the Delaware Trustee so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The ; provided, however, that such right to appoint or to petition for the appointment of any such successor shall in no event relieve the resigning Delaware Trustee may be removed at from any time by written notice of the Certificateholders, delivered to the Delaware Trustee and the Trustor.
(d) obligations otherwise imposed on it under this Trust Agreement until such successor has in fact assumed such appointment. If at any time the Delaware Trustee will shall cease to be eligible under in accordance with the provisions of Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolventand shall fail to resign after written request therefor by the Issuer Administrator, or if at any time a receiver of Bankruptcy Action with respect to the Delaware Trustee or of its property will shall have occurred and be appointedcontinuing, or any public officer will take charge or control then the Issuer Administrator may remove the Delaware Trustee. If the Issuer Administrator shall remove the Delaware Trustee, under the authority of the immediately preceding sentence, the Issuer Administrator shall promptly appoint a successor Delaware Trustee or of its property or affairs for the purpose of rehabilitationTrustee, conservation or liquidation, thenby written instrument, in any such case duplicate, one copy of which instrument shall be delivered to the Directing Certificateholder mayoutgoing Delaware Trustee, on behalf so removed and one copy to the successor Delaware Trustee, and shall remit payment of itself and all others similarly situated, petition any court of competent jurisdiction for fees owed to the outgoing Delaware Trustee. Any resignation or removal of the Delaware Trustee and appointment of a successor Delaware Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Delaware Trustee pursuant to Section 10.03 hereof and payment of all fees and expenses owed to the outgoing Delaware Trustee. The Delaware Trustee agrees to provide all reasonable cooperation and assistance to the Depositor in the event of appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
Appears in 5 contracts
Samples: Trust Agreement (Higher Education Funding I), Trust Agreement (Goal Capital Funding, LLC), Trust Agreement (Higher Education Funding I)
Resignation or Removal of Delaware Trustee. (a) No resignation or removal The Delaware Trustee may at any time resign and be discharged from its appointment as trustee of the Delaware Trustee and no appointment Trust hereby created by giving written notice thereof to the Administrator. Upon receiving such notice of resignation, the Administrator shall promptly appoint a successor Delaware Trustee pursuant meeting the eligibility requirements of Section 10.01 by written instrument, in duplicate, one copy of which instrument shall be delivered to this Section 10.02 will become effective until the acceptance of appointment by resigning Delaware Trustee, and one copy to the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a no successor Delaware Trustee will not shall have been delivered to the Delaware Trustee so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The ; PROVIDED, HOWEVER, that such right to appoint or to petition for the appointment of any such successor shall in no event relieve the resigning Delaware Trustee may be removed at from any time by written notice of the Certificateholders, delivered to the Delaware Trustee and the Trustor.
(d) obligations otherwise imposed on it under this Agreement until such successor has in fact assumed such appointment. If at any time the Delaware Trustee will shall cease to be eligible under in accordance with the provisions of Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolventand shall fail to resign after written request therefor by the Administrator, or a receiver of if at any time an Insolvency Event with respect to the Delaware Trustee or of its property will shall have occurred and be appointedcontinuing, or any public officer will take charge or control then the Administrator may remove the Delaware Trustee. If the Administrator shall remove the Delaware Trustee, under the authority of the immediately preceding sentence, the Administrator shall promptly appoint a successor Delaware Trustee or of its property or affairs for the purpose of rehabilitationTrustee, conservation or liquidation, thenby written instrument, in any such case duplicate, one copy of which instrument shall be delivered to the Directing Certificateholder mayoutgoing Delaware Trustee, on behalf so removed and one copy to the successor Delaware Trustee, and shall remit payment of itself and all others similarly situated, petition any court of competent jurisdiction for fees owed to the outgoing Delaware Trustee. Any resignation or removal of the Delaware Trustee and appointment of a successor Delaware Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Delaware Trustee pursuant to Section 10.03 and payment of all fees and expenses owed to the outgoing Delaware Trustee. The Delaware Trustee agrees to provide all reasonable cooperation and assistance to the Depositor in the event of appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
Appears in 5 contracts
Samples: Trust Agreement (Collegiate Funding Services Education Loan Trust 2004-A), Trust Agreement (Collegiate Funding Services Education Loan Trust 2003-A), Trust Agreement (Collegiate Funding of Delaware LLC)
Resignation or Removal of Delaware Trustee. (a) No resignation or removal of the Delaware Trustee and no appointment of a successor Delaware Trustee pursuant to this Section 10.02 will become effective until the acceptance of appointment by the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a successor Delaware Trustee will not have been delivered to the Delaware Trustee within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The Delaware Trustee may be removed at any time by following thirty (30) days' prior written notice of to such effect by the Certificateholders, delivered to the Delaware Trustee and the Trustor.
(d) If at any time the Delaware Trustee will cease to be eligible under Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolvent, or a receiver of the Delaware Trustee or of its property will be appointed, or any public officer will take charge or control of the Delaware Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case the Directing Certificateholder may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Delaware Trustee and the appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
Appears in 4 contracts
Samples: Trust Agreement, Trust Agreement, Trust Agreement
Resignation or Removal of Delaware Trustee. (a) No resignation or removal The Delaware Trustee may at any time resign and be discharged from its appointment as trustee of the Delaware Trustee and no appointment Trust hereby created by giving written notice thereof to the Issuer Administrator. Upon receiving such notice of resignation, the Issuer Administrator shall promptly appoint a successor Delaware Trustee pursuant meeting the eligibility requirements of Section 10.01 by written instrument, in duplicate, one copy of which instrument shall be delivered to this Section 10.02 will become effective until the acceptance of appointment by resigning Delaware Trustee, and one copy to the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a no successor Delaware Trustee will not shall have been delivered to the Delaware Trustee so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The ; PROVIDED, HOWEVER, that such right to appoint or to petition for the appointment of any such successor shall in no event relieve the resigning Delaware Trustee may be removed at from any time by written notice of the Certificateholders, delivered to the Delaware Trustee and the Trustor.
(d) obligations otherwise imposed on it under this Agreement until such successor has in fact assumed such appointment. If at any time the Delaware Trustee will shall cease to be eligible under in accordance with the provisions of Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolventand shall fail to resign after written request therefor by the Issuer Administrator, or a receiver of if at any time an Insolvency Event with respect to the Delaware Trustee or of its property will shall have occurred and be appointedcontinuing, or any public officer will take charge or control then the Issuer Administrator may remove the Delaware Trustee. If the Issuer Administrator shall remove the Delaware Trustee, under the authority of the immediately preceding sentence, the Issuer Administrator shall promptly appoint a successor Delaware Trustee or of its property or affairs for the purpose of rehabilitationTrustee, conservation or liquidation, thenby written instrument, in any such case duplicate, one copy of which instrument shall be delivered to the Directing Certificateholder mayoutgoing Delaware Trustee, on behalf so removed and one copy to the successor Delaware Trustee, and shall remit payment of itself and all others similarly situated, petition any court of competent jurisdiction for fees owed to the outgoing Delaware Trustee. Any resignation or removal of the Delaware Trustee and appointment of a successor Delaware Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Delaware Trustee pursuant to Section 10.03 and payment of all fees and expenses owed to the outgoing Delaware Trustee. The Delaware Trustee agrees to provide all reasonable cooperation and assistance to the Depositor in the event of appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
Appears in 3 contracts
Samples: Trust Agreement (Collegiate Funding of Delaware LLC), Trust Agreement (College Loan LLC), Trust Agreement (College Loan LLC)
Resignation or Removal of Delaware Trustee. (a) No resignation or removal The Delaware Trustee may at any time resign and be discharged from its appointment as trustee of the Delaware Trustee and no appointment Trust hereby created by giving written notice thereof to the Issuer Administrator. Upon receiving such notice of resignation, the Issuer Administrator shall promptly appoint a successor Delaware Trustee pursuant meeting the eligibility requirements of Section 10.01 hereof by written instrument, in duplicate, one copy of which instrument shall be delivered to this Section 10.02 will become effective until the acceptance of appointment by resigning Delaware Trustee, and one copy to the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a no successor Delaware Trustee will not shall have been delivered to the Delaware Trustee so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The ; provided, however, that such right to appoint or to petition for the appointment of any such successor shall in no event relieve the resigning Delaware Trustee may be removed at from any time by written notice of the Certificateholders, delivered to the Delaware Trustee and the Trustor.
(d) obligations otherwise imposed on it under this Trust Agreement until such successor has in fact assumed such appointment. If at any time the Delaware Trustee will shall cease to be eligible under in accordance with the provisions of Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolventand shall fail to resign after written request therefor by the Issuer Administrator, or if at any time a receiver of Bankruptcy Action with respect to the Delaware Trustee or of its property will shall have occurred and be appointedcontinuing, or any public officer will take charge or control then the Issuer Administrator may remove the Delaware Trustee. If the Issuer Administrator shall remove the Delaware Trustee, under the authority of the immediately preceding sentence, the Issuer Administrator shall promptly appoint a successor Delaware Trustee or of its property or affairs for the purpose of rehabilitationTrustee, conservation or liquidation, thenby written instrument, in any such case duplicate, one copy of which instrument shall be delivered to the Directing Certificateholder mayoutgoing Delaware Trustee, on behalf so removed and one copy to the successor Delaware Trustee, and shall remit payment of itself and all others similarly situated, petition any court of competent jurisdiction for fees owed to the outgoing Delaware Trustee. Any resignation or removal of the Delaware Trustee and appointment of a successor Delaware Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Delaware Trustee pursuant to Section 10.03 hereof and payment of all fees and expenses owed to the outgoing Delaware Trustee. The Delaware Trustee agrees to provide all reasonable cooperation and assistance to the Sponsor in the event of appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
Appears in 3 contracts
Samples: Trust Agreement (College Loan Corp Trust I), Trust Agreement (College Loan Corp Trust I), Trust Agreement (College Loan Corp Trust I)
Resignation or Removal of Delaware Trustee. β
(a) No resignation or removal of the Delaware Trustee and no appointment of a successor Delaware Trustee pursuant to this Section 10.02 will become effective until the acceptance of appointment by the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a successor Delaware Trustee will not have been delivered to the Delaware Trustee within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The Delaware Trustee may be removed at any time by written notice of the Certificateholders, delivered to the Delaware Trustee and the Trustor.
(d) If at any time the Delaware Trustee will cease to be eligible under Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolvent, or a receiver of the Delaware Trustee or of its property will be appointed, or any public officer will take charge or control of the Delaware Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case the Directing Certificateholder may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Delaware Trustee and the appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
Appears in 2 contracts
Samples: Trust Agreement, Trust Agreement
Resignation or Removal of Delaware Trustee. (a) No resignation or removal of the Delaware Trustee and no appointment of a successor Delaware Trustee pursuant to this Section 10.02 will become effective until the acceptance of appointment by the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a successor Delaware Trustee will not have been delivered to the Delaware Trustee within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The Delaware Trustee may be removed at any time by written notice of the CertificateholdersOwnership Certificateholder, delivered to the Delaware Trustee and the Trustor.
(d) If at any time the Delaware Trustee will cease to be eligible under Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolvent, or a receiver of the Delaware Trustee or of its property will be appointed, or any public officer will take charge or control of the Delaware Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case the Directing Ownership Certificateholder may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Delaware Trustee and the appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Ownership Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Ownership Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Ownership Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
Appears in 1 contract
Samples: Trust Agreement
Resignation or Removal of Delaware Trustee. (a) No resignation or removal The Delaware Trustee may at any time resign and be discharged from its appointment as trustee of the Delaware Trustee and no appointment Trust hereby created by giving written notice thereof to the Administrator. Upon receiving such notice of resignation, the Administrator shall promptly appoint a successor Delaware Trustee pursuant meeting the eligibility requirements of Section 10.01 hereof by written instrument, in duplicate, one copy of which instrument shall be delivered to this Section 10.02 will become effective until the acceptance of appointment by resigning Delaware Trustee, and one copy to the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a no successor Delaware Trustee will not shall have been delivered to the Delaware Trustee so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The Delaware Trustee may be removed at any time by written notice of the Certificateholders, delivered to the Delaware Trustee and the Trustor.
(d) If at any time the Delaware Trustee will cease to be eligible under Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolvent, or a receiver of the Delaware Trustee or of its property will be appointed, or any public officer will take charge or control of the Delaware Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case the Directing Certificateholder may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Delaware Trustee and the appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee; provided, however, that such right to appoint or to petition for the appointment of any such successor shall in no event relieve the resigning Delaware Trustee from any obligations otherwise imposed on it under this Trust Agreement until such successor has in fact assumed such appointment. If at any time the Delaware Trustee shall cease to be eligible in accordance with the provisions of Section 10.01 hereof and shall fail to resign after written request therefor by the Administrator, or if at any time a Bankruptcy Action with respect to the Delaware Trustee shall have occurred and be continuing, then the Administrator may remove the Delaware Trustee. If the Administrator shall remove the Delaware Trustee, under the authority of the immediately preceding sentence, the Administrator shall promptly appoint a successor Delaware Trustee, by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Delaware Trustee, so removed and one copy to the successor Delaware Trustee, and shall remit payment of all fees owed to the outgoing Delaware Trustee. Any resignation or removal of the Delaware Trustee and appointment of a successor Delaware Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Delaware Trustee pursuant to Section 10.03 hereof and payment of all fees and expenses owed to the outgoing Delaware Trustee. The Delaware Trustee agrees to provide all reasonable cooperation and assistance to the Depositor in the event of appointment of a successor Delaware Trustee.
Appears in 1 contract
Resignation or Removal of Delaware Trustee. (a) No resignation or removal The Delaware Trustee may at any time resign and be discharged from its appointment as trustee of the Delaware Trustee and no appointment Trust hereby created by giving written notice thereof to the Issuer Administrator. Upon receiving such notice of resignation, the Issuer Administrator shall promptly appoint a successor Delaware Trustee pursuant meeting the eligibility requirements of Section 10.01 by written instrument, in duplicate, one copy of which instrument shall be delivered to this Section 10.02 will become effective until the acceptance of appointment by resigning Delaware Trustee, and one copy to the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a no successor Delaware Trustee will not shall have been delivered to the Delaware Trustee so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The ; provided, however, that such right to appoint or to petition for the appointment of any such successor shall in no event relieve the resigning Delaware Trustee may be removed at from any time by written notice of the Certificateholders, delivered to the Delaware Trustee and the Trustor.
(d) obligations otherwise imposed on it under this Agreement until such successor has in fact assumed such appointment. If at any time the Delaware Trustee will shall cease to be eligible under in accordance with the provisions of Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolventand shall fail to resign after written request therefor by the Issuer Administrator, or a receiver of if at any time an insolvency event with respect to the Delaware Trustee or of its property will shall have occurred and be appointedcontinuing, or any public officer will take charge or control then the Issuer Administrator may remove the Delaware Trustee. If the Issuer Administrator shall remove the Delaware Trustee, under the authority of the immediately preceding sentence, the Issuer Administrator shall promptly appoint a successor Delaware Trustee or of its property or affairs for the purpose of rehabilitationTrustee, conservation or liquidation, thenby written instrument, in any such case duplicate, one copy of which instrument shall be delivered to the Directing Certificateholder mayoutgoing Delaware Trustee, on behalf so removed and one copy to the successor Delaware Trustee, and shall remit payment of itself and all others similarly situated, petition any court of competent jurisdiction for fees owed to the outgoing Delaware Trustee. Any resignation or removal of the Delaware Trustee and appointment of a successor Delaware Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Delaware Trustee pursuant to Section 10.03 and payment of all fees and expenses owed to the outgoing Delaware Trustee. The Delaware Trustee agrees to provide all reasonable cooperation and assistance to the Depositor in the event of appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
Appears in 1 contract
Resignation or Removal of Delaware Trustee. (a) No resignation or removal The Delaware Trustee may at any time resign and be discharged from its appointment as trustee of the Delaware Trustee and no appointment Trust hereby created by giving written notice thereof to the Administrator. Upon receiving such notice of resignation, the Administrator shall promptly appoint a successor Delaware Trustee pursuant meeting the eligibility requirements of Section 10.01 hereof by written instrument, in duplicate, one copy of which instrument shall be delivered to this Section 10.02 will become effective until the acceptance of appointment by resigning Delaware Trustee, and one copy to the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a no successor Delaware Trustee will not shall have been delivered to the Delaware Trustee so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The ; provided, however, that such right to appoint or to petition for the appointment of any such successor shall in no event relieve the resigning Delaware Trustee may be removed at from any time by written notice of the Certificateholders, delivered to the Delaware Trustee and the Trustor.
(d) obligations otherwise imposed on it under this Trust Agreement until such successor has in fact assumed such appointment. If at any time the Delaware Trustee will shall cease to be eligible under in accordance with the provisions of Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolventand shall fail to resign after written request therefor by the Administrator, or if at any time a receiver of Bankruptcy Action with respect to the Delaware Trustee or of its property will shall have occurred and be appointedcontinuing, or any public officer will take charge or control then the Administrator may remove the Delaware Trustee. If the Administrator shall remove the Delaware Trustee, under the authority of the immediately preceding sentence, the Administrator shall promptly appoint a successor Delaware Trustee or of its property or affairs for the purpose of rehabilitationTrustee, conservation or liquidation, thenby written instrument, in any such case duplicate, one copy of which instrument shall be delivered to the Directing Certificateholder mayoutgoing Delaware Trustee, on behalf so removed and one copy to the successor Delaware Trustee, and shall remit payment of itself and all others similarly situated, petition any court of competent jurisdiction for fees owed to the outgoing Delaware Trustee. Any resignation or removal of the Delaware Trustee and appointment of a successor Delaware Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Delaware Trustee pursuant to Section 10.03 hereof and payment of all fees and expenses owed to the outgoing Delaware Trustee. The Delaware Trustee agrees to provide all reasonable cooperation and assistance to the Depositor in the event of appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
Appears in 1 contract
Resignation or Removal of Delaware Trustee. (a) No resignation or removal The Delaware Trustee may at any time resign and be discharged from its appointment as trustee of the Delaware Trustee and no appointment Trust hereby created by giving written notice thereof to the Issuer Administrator. Upon receiving such notice of resignation, the Issuer Administrator shall promptly appoint a successor Delaware Trustee pursuant meeting the eligibility requirements of Section 10.01 by written instrument, in duplicate, one copy of which instrument shall be delivered to this Section 10.02 will become effective until the acceptance of appointment by resigning Delaware Trustee, and one copy to the successor Delaware Trustee under Section 10.03 hereof and the payment of all undisputed fees, expenses and other amounts owed to the outgoing Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to such effect. If an instrument of acceptance by a no successor Delaware Trustee will not shall have been delivered to the Delaware Trustee so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Delaware Trustee may, at the expense of the Trustor, petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The ; PROVIDED, HOWEVER, that such right to appoint or to petition for the appointment of any such successor shall in no event relieve the resigning Delaware Trustee may be removed at from any time by written notice of the Certificateholders, delivered to the Delaware Trustee and the Trustor.
(d) obligations otherwise imposed on it under this Agreement until such successor has in fact assumed such appointment. If at any time the Delaware Trustee will shall cease to be eligible under in accordance with the provisions of Section 10.01 hereof or will become incapable of acting or will be adjudged a bankrupt or insolventand shall fail to resign after written request therefor by the Issuer Administrator, or a receiver of if at any time an insolvency event with respect to the Delaware Trustee or of its property will shall have occurred and be appointedcontinuing, or any public officer will take charge or control then the Issuer Administrator may remove the Delaware Trustee. If the Issuer Administrator shall remove the Delaware Trustee, under the authority of the immediately preceding sentence, the Issuer Administrator shall promptly appoint a successor Delaware Trustee or of its property or affairs for the purpose of rehabilitationTrustee, conservation or liquidation, thenby written instrument, in any such case duplicate, one copy of which instrument shall be delivered to the Directing Certificateholder mayoutgoing Delaware Trustee, on behalf so removed and one copy to the successor Delaware Trustee, and shall remit payment of itself and all others similarly situated, petition any court of competent jurisdiction for fees owed to the outgoing Delaware Trustee. Any resignation or removal of the Delaware Trustee and appointment of a successor Delaware Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Delaware Trustee pursuant to Section 10.03 and payment of all fees and expenses owed to the outgoing Delaware Trustee. The Delaware Trustee agrees to provide all reasonable cooperation and assistance to the Sponsor in the event of appointment of a successor Delaware Trustee.
(e) If the Delaware Trustee will resign, be removed or become incapable of acting, or if a vacancy will occur in the office of the Delaware Trustee for any cause, a successor Delaware Trustee with respect to the Issuer will be appointed by the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed by the Directing Certificateholder and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
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Resignation or Removal of Delaware Trustee. (a) No The Delaware Trustee may resign as Delaware Trustee, or the Administrator, acting on behalf of the Trust, may, in its sole discretion, remove the Delaware Trustee, in each case with thirty (30) days' prior notice to the Delaware Trustee, the Indenture Trustee and each Rating Agency then rating the Program or any Series of the Notes. Upon any resignation or removal of the Delaware Trustee and no appointment Trustee, the Administrator, acting on behalf of the Trust, shall appoint a successor Delaware Trustee pursuant to this Section 10.02 will become effective until the acceptance of appointment by the whereupon such successor Delaware Trustee under Section 10.03 hereof shall succeed to the rights, powers and duties of the Delaware Trustee, and the payment of all undisputed fees, expenses and other amounts owed to the outgoing term "Delaware Trustee.
(b) The Delaware Trustee may resign any appointment hereunder by giving the Trustor at least 30 days' written notice to " shall thereupon mean such effect. If an instrument of acceptance by a successor Delaware Trustee will not have been delivered to effective upon such appointment and approval, and the predecessor Delaware Trustee's powers and duties as Delaware Trustee within 30 days after shall be terminated, without any other or further act or deed on the giving part of such notice of resignation, the resigning predecessor Delaware Trustee may, at the expense or any of the Trustor, petition parties to this Trust Agreement or any court of competent jurisdiction for the appointment of a successor Delaware Trustee.
(c) The Delaware Trustee may be removed at any time by written notice holders of the Certificateholdersobligations owing hereunder; PROVIDED, delivered to the Delaware Trustee and the Trustor.
(d) If that if at any time the Delaware Trustee will shall cease to be eligible under in accordance with Section 10.01 hereof 9.1 and shall have not resigned, or will if at any time the Delaware Trustee, shall become incapable of acting or will shall be adjudged a bankrupt or insolvent, or a receiver of for the Delaware Trustee or of for its property will shall be appointed, or any public officer will shall take charge or control of the Delaware Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in then the Administrator may remove the Delaware Trustee. On and after the effective date of any such case the Directing Certificateholder may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the resignation or removal of the Delaware Trustee and hereunder, the provisions of this Article 9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Delaware Trustee under this Trust Agreement. Any such resignation or removal shall become effective following the appointment of a successor Delaware TrusteeTrustee in accordance with the provisions of this Section 9.2.
(eb) If no successor Delaware Trustee shall be appointed and shall have accepted such appointment within thirty (30) days after the aforesaid notice of resignation or removal, the Trust (or the Administrator, acting on its behalf) or the resigning Delaware Trustee may apply to any court of competent jurisdiction to appoint a successor Delaware Trustee to act until such time, if any, as a successor Delaware Trustee shall have been appointed as provided in this Section 9.2. Any successor so appointed by such court shall immediately and without further act be superseded by any successor Delaware Trustee appointed pursuant to this Section 9.2. Any Delaware Trustee shall be entitled to all Delaware Trustee fees to the extent incurred or arising, or relating to events occurring, before such resignation or removal becomes effective, and the protections of Sections 7.1 and 7.2 with respect to any Expenses to the extent incurred or arising, or relating to events occurring, before such resignation or removal shall survive.
(c) If at any time the Delaware Trustee will resign, shall resign or be removed or otherwise become incapable of acting, or if at any time a vacancy will shall occur in the office of the Delaware Trustee for any other cause, a successor Delaware Trustee with respect to the Issuer will shall be appointed by as set forth in this Section 9.2. The powers, duties, authority and title of the Directing Certificateholder in a writing delivered to the Trustor and the retiring Delaware Trustee, the successor predecessor Delaware Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Delaware Trustee. If no successor Delaware Trustee will have been so appointed shall be terminated and canceled without any formality (except as may be required by the Directing Certificateholder applicable law) other than appointment and will have accepted appointment in the manner hereinafter provided, the Directing Certificateholder or the Delaware Trustee may petition any court of competent jurisdiction for the appointment designation of a successor Delaware TrusteeTrustee in writing duly acknowledged and delivered to the predecessor Delaware Trustee and the Trust.
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