Common use of Resignation or Removal of the Trustee Clause in Contracts

Resignation or Removal of the Trustee. Appointment of Successor Trustee. (a) The Trustee may at any time resign as -------------------------------- Trustee hereunder by written notice of its election so to do, delivered to the Depositor, and such resignation shall take effect upon the appointment of a successor Trustee and its acceptance of such appointment as hereinafter provided; provided, however, that in the event of such resignation, the Trustee shall (a) assist the Depositor in finding a successor Trustee acceptable to the Depositor and (b) negotiate in good faith concerning any prepaid but unaccrued fees.

Appears in 4 contracts

Samples: Trust Agreement (Lehman Abs Corp), Trust Agreement (Lehman Abs Corp), Trust Agreement (Lehman Abs Corp)

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Resignation or Removal of the Trustee. Appointment of ----------------------------------------------------- Successor Trustee. (a) The Trustee may at any time resign as -------------------------------- Trustee hereunder ----------------- by written notice of its election so to do, delivered to the Depositor, and such resignation shall take effect upon the appointment of a successor Trustee and its acceptance of such appointment as hereinafter provided; provided, however, that in the event of such resignation, the Trustee shall (a) assist the Depositor in finding a successor Trustee acceptable to the Depositor and (b) negotiate in good faith concerning any prepaid but unaccrued fees.

Appears in 4 contracts

Samples: Elmwood Funding LTD, Elmwood Funding LTD, Elmwood Funding LTD

Resignation or Removal of the Trustee. Appointment of ----------------------------------------------------- Successor Trustee. (a) The Trustee may at any time resign as -------------------------------- Trustee hereunder ----------------- by written notice of its election so to do, delivered to the DepositorDepositor and each Rating Agency, and such resignation shall take effect upon the appointment of a successor Trustee and its acceptance of such appointment as hereinafter provided; provided, however, that in the event of such resignation, the Trustee shall (a) assist the Depositor in finding a successor Trustee acceptable to the Depositor and (b) negotiate in good faith concerning any prepaid but unaccrued fees.

Appears in 1 contract

Samples: Trust Agreement (Db Depositor Inc)

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Resignation or Removal of the Trustee. Appointment --------------------------------------------------- of Successor Trustee. (a) The Trustee may at any time resign as -------------------------------- Trustee -------------------- hereunder by written notice of its election so to do, delivered to the Depositor, and such resignation shall take effect upon the appointment of a successor Trustee and its acceptance of such appointment as hereinafter provided; provided, however, that in the event of such resignation, the Trustee shall (a) assist the Depositor in finding a successor Trustee acceptable to the Depositor and (b) negotiate in good faith concerning any prepaid but unaccrued fees.

Appears in 1 contract

Samples: Elmwood Funding LTD

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