Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 20 contracts

Samples: Pooling and Servicing Agreement (Equifirst Mortgage Loan Trust 2005-1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-3), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and ~~each~~ the Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 19 contracts

Samples: Pooling and Servicing Agreement (PHHMC Series 2007-6 Trust), Pooling and Servicing Agreement (PHHMC Series 2007-5 Trust), Pooling and Servicing Agreement (PHHMC Series 2007-4 Trust)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the NIMS Insurer, the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee acceptable to the NIMS Insurer by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or the NIMS Insurer or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor~~ Depositor, the Master Servicer or the ~~Servicer~~ NIMS Insurer may remove the Trustee. If the ~~Depositor~~ Depositor, the Master Servicer or the ~~Servicer~~ NIMS Insurer removes the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Depositor, with the consent of the NIMS Insurer, shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders (or the NIMS Insurer upon the failure of the Trustee to perform its obligations hereunder) may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee acceptable to the NIMS Insurer in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 16 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-2), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-1 Asset-Backed Certificates, Series 2006-1), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-5, Asset-Backed Certificates, Series 2005-5)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the NIMS Insurer, the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee acceptable to the NIMS Insurer by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or the NIMS Insurer if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor~~ Depositor, the Servicer or the ~~Servicer~~ NIMS Insurer may remove the Trustee. If the ~~Depositor~~ Depositor, the Servicer or the ~~Servicer~~ NIMS Insurer removes the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Depositor, with the consent of the NIMS Insurer, shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders (or the NIMS Insurer upon the failure of the Trustee to perform its obligations hereunder) may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee acceptable to the NIMS Insurer in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 14 contracts

Samples: Pooling and Servicing Agreement (Greenpoint Mortgage Funding Trust 2005-Hy1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt2), Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt4)

Resignation or Removal of Trustee. The Trustee may ~~at any time~~ resign and be discharged from the trusts hereby created by giving written notice thereof to ~~the Depositor, the Servicer and each Rating Agency~~CitiMortgage. Upon receiving such notice of resignation, ~~the Depositor shall~~ CitiMortgage will promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument ~~shall~~ will be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee ~~shall~~ will have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If ~~at any time~~ the Trustee ~~shall cease~~ ceases to be eligible in accordance with the provisions of ~~Section 8.06~~ section 8.6 and ~~shall~~ will fail to resign after written request therefor by ~~the Depositor~~ CitiMortgage, or if ~~at any time~~ the Trustee ~~shall be~~ is legally unable to act, or ~~shall be~~ is adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property ~~shall be~~ is appointed, or any public officer ~~shall take~~ takes charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, ~~conservation~~ conversion or liquidation, then ~~the Depositor or the Servicer~~ CitiMortgage may remove the Trustee. If ~~the Depositor or the Servicer~~ it removes the Trustee under the authority of the immediately preceding sentence, ~~the Depositor shall~~ CitiMortgage will promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument ~~shall~~ will be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The ~~Majority Certificateholders~~ Trustee may ~~at any time remove~~ also be removed (i) by CitiMortgage, (a) if the Trustee ceases to be eligible to continue as such under this agreement or if the Trustee becomes insolvent, (b) if the Trustee breaches any of its duties under this agreement which materially adversely affects the certificate holders, (c) if through the performance or nonperformance of certain actions by ~~written instrument or instruments delivered~~ the Trustee, the rating assigned to the ~~Servicer,~~ certificates would be lowered or (d) if the ~~Depositor~~ credit rating of the Trustee is downgraded to a level which would result in the rating assigned to the certificates to be lowered; or (ii) by the holders of certificates evidencing more than 50% of the voting interest of the certificates then outstanding and more than 50% of the ~~Trustee;~~ percentage interests of the ~~Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~residual certificates. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this ~~Section 8.07 shall~~ section 8.7 will not become effective until acceptance of appointment by the successor Trustee as provided in ~~Section 8.08~~section 8.8.

Appears in 14 contracts

Samples: Pooling and Servicing Agreement (Citicorp Mortgage Securities Inc), Pooling and Servicing Agreement (Citicorp Mortgage Securities Inc), Pooling and Servicing Agreement (Citicorp Mortgage Securities Inc)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the~~ Servicer and ~~each Rating Agency~~the Company. Upon receiving such notice of resignation, the ~~Depositor~~ Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~resigning Trustee~~ Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.07 and shall fail to resign after written request therefor by the ~~Depositor~~ Company, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Company may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Company shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.08 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~11.09.

Appears in 13 contracts

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (C-Bass 2007-Cb5 Trust), Pooling and Servicing Agreement (Asset Backed Funding Corp C Bass Mor Ln as Bk Ce Se 2004 Cb1), Pooling and Servicing Agreement (Financial Asset Sec Corp C Bass Mort Ln as Bk Ce Se 02-Cb6)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Administrator. Upon receiving such notice of resignation, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Administrator any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with ~~the provisions of~~ Section ~~8.06~~ 10.1 and shall fail to resign after written request therefor by the ~~Depositor~~ Administrator, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Administrator may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Administrator shall remove the Trustee under the authority of the ~~immediately~~ preceding sentence, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered~~ Trustee, and pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to ~~any of the provisions of~~ this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.3 and payment of all fees and expenses owed to the outgoing Trustee. The Administrator shall provide notice of such resignation or removal of the Trustee to each of the Rating Agencies.

Appears in 10 contracts

Samples: Trust Agreement (CNH Equipment Trust 2006-A), Trust Agreement (CNH Capital Receivables Inc), Trust Agreement (CNH Equipment Trust 2005-B)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Administrator. Upon receiving such notice of resignation, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with ~~the provisions of~~ Section ~~8.06~~ 10.1 and shall fail to resign after written request therefor by the ~~Depositor~~ Administrator, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Administrator may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Administrator shall remove the Trustee under the authority of the ~~immediately~~ preceding sentence, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the~~ Trustee ~~by written instrument or instruments delivered~~ and payment of all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to ~~any of the provisions of~~ this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.3 and payment of all fees and expenses owed to the outgoing Trustee. The Administrator shall provide notice of such resignation or removal of the Trustee to each of the Rating Agencies.

Appears in 10 contracts

Samples: Trust Agreement (Case Receivables Ii Inc), Trust Agreement (Case Receivables Ii Inc), Trust Agreement (CNH Capital Receivables Inc)

Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving ~~written~~ notice thereof to the ~~Depositor,~~ Sellers and the ~~Servicer and each Rating Agency~~Servicer. Upon receiving such notice of resignation, the ~~Depositor~~ Sellers shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor ~~Trustee.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.06 and shall fail to resign after ~~written~~ request therefor by the ~~Depositor~~ Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or if a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the~~ Servicer may remove the ~~Trustee. If the Depositor or the Servicer removes the~~ Trustee ~~under the authority of the immediately preceding sentence, the Depositor shall~~ and promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. . (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~8.08~~11.08.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Citibank, N.A., as Depositor of Citibank Credit Card Issuance Trust), Pooling and Servicing Agreement (Citibank, N.A., as Depositor of Citibank Credit Card Issuance Trust), Pooling and Servicing Agreement (Citibank, N.A., as Depositor of Citibank Credit Card Issuance Trust)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the ~~Trustee~~Trustee and any expenses incurred by the Trustee in connection with such removal shall be reimbursed to it by the Majority Certificateholders promptly upon demand therefor; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (C-Bass Mortgage Loan Trust 2007-Cb3), Pooling and Servicing Agreement (C-Bass 2007-Cb1 Trust), Pooling and Servicing Agreement (C-Bass 2006-Cb7 Trust)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Servicer. Upon receiving such notice of resignation, the ~~Depositor~~ Servicer, with the prior written consent of the Insurer, shall promptly appoint a successor ~~Trustee~~ Trustee, by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 15.08 and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, ~~conservation~~ conservation, or liquidation, then ~~the Depositor or~~ the Servicer may remove the Trustee. If ~~the Depositor or the Servicer removes~~ it shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the~~ Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 15.09 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~15.10.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Uacsc 1999 a Auto Trust), Pooling and Servicing Agreement (Uacsc 1998-B Auto Trust), Pooling and Servicing Agreement (Bay View Securitization Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of ~~its~~ their property shall be appointed, or any public officer shall take charge or control of the Trustee or of ~~its~~ their property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the ~~Trustee~~Trustee and any expenses incurred by the Trustee in connection with such removal shall be reimbursed to it by the Majority Certificateholders promptly upon demand therefor; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust, Series 2005-Cb8, C-Bass Mortgage Loan Asset-Backed Certificates), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc), Pooling and Servicing Agreement (C-Bass MTG Ln as Bk Cert Ser 2004-Cb4)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the~~ Servicer and ~~each Rating Agency~~the Originator. Upon receiving such notice of resignation, the ~~Depositor~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~resigning Trustee~~ Servicer and the Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.07 and shall fail to resign after written request therefor by the ~~Depositor~~ Originator, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Originator may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.08 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~11.09.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Conseco Finance Securitizations Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp), Pooling and Servicing Agreement (Conseco Finance Securitizations Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Administrator. Upon receiving such notice of resignation, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee meeting the eligibility requirements of Section 10.01 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor 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 Trustee from any obligations otherwise imposed on it under the Basic Documents until such successor has in fact assumed such appointment. If at any time the Trustee shall cease to be or shall be likely to cease to be eligible in accordance with the provisions of Section ~~8.06~~ 10.01 and shall fail to resign after written request therefor by the ~~Depositor~~ Administrator, or if at any time an Insolvency Event with respect to the Trustee shall have occurred and be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidationcontinuing, then the ~~Depositor or the Servicer~~ Administrator may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Administrator shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the~~ Trustee ~~by written instrument or instruments delivered~~ and payment of all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.03, payment of all fees and expenses owed to the outgoing Trustee and the filing of a certificate of amendment to the Trust’s certificate of trust pursuant to Section 3810(b) of the Delaware Statutory Trust Act. The Administrator shall provide notice of such resignation or removal of the Trustee and to each of the Rating Agencies.

Appears in 6 contracts

Samples: Trust Agreement (SLM Private Credit Student Loan Trust 2006-A), Trust Agreement (SLM Private Credit Student Loan Trust 2006-C), Trust Agreement (SLM Private Credit Student Loan Trust 2005-A)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the~~ Servicer and ~~each Rating Agency~~the Company. A copy of any such notice shall be sent to Xxxxx'x and Fitch. Upon receiving such notice of resignation, the ~~Depositor~~ Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~resigning Trustee~~ Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Company, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Company may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Company shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the~~ Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~11.08.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Green Tree Financial Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Servicer. Upon receiving such notice of resignation, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 10.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the~~ Servicer may remove the Trustee. If the ~~Depositor or the~~ Servicer ~~removes~~ shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered~~ Trustee, and shall pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.08 and payment of all fees and expenses owed to the outgoing Trustee. The Servicer shall provide notice of such resignation or removal of the Trustee to each of the Rating Agencies.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Funding Inc), Pooling and Servicing Agreement (Ml Asset Backed Corp), Pooling and Servicing Agreement (National City Bank /)

Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Grantor. Upon receiving such notice of resignation, the ~~Depositor~~ Grantor shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor ~~Trustee.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 9.6 hereof and shall fail to resign after written request therefor by the ~~Depositor~~ Grantor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or if a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or~~ Grantor, and/or Beneficiaries by vote of more than 50% of the ~~Servicer~~ Units, may remove the ~~Trustee. If the Depositor or the Servicer removes the~~ Trustee ~~under the authority of the immediately preceding sentence, the Depositor shall~~ and promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. . (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~8.07~~ 9.7 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~8.08~~9.8 hereof.

Appears in 5 contracts

Samples: Trust Agreement (Planet Polymer Technologies Inc), Trust Agreement (Planet Polymer Technologies Inc), Trust Agreement (Planet Polymer Technologies Inc)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of ~~its~~ their property shall be appointed, or any public officer shall take charge or control of the Trustee or of ~~its~~ their property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Abfc Asset Backed Certificates Series 2002-Nc1), Pooling and Servicing Agreement (Asset Backed Funding Corp Abfc Asset Backed Ser 2004-Ahl1), Pooling and Servicing Agreement (Abfc Asset Backed Certificates Series 2003-Ahl1)

Resignation or Removal of Trustee. The Trustee (including the Trustee as Certificate Registrar) may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the Trustee, the Depositor, the ~~Servicer~~ Seller, the Certificate Insurer and ~~each~~ the Rating Agency. Upon receiving such notice of ~~resignation~~resignation of the Trustee, the Depositor shall promptly appoint a successor Trustee that meets the requirements in Section 8.06 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 ~~and shall fail to resign after written request therefor by the Depositor~~ hereof or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee that meets the requirements of Section 8.06, by written instrument, in ~~duplicate~~triplicate, one copy of which instrument shall be delivered to the Trustee so ~~removed~~ removed, and one copy to the successor ~~trustee~~Trustee and one copy to the Certificate Insurer. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the ~~Servicer, the~~ Depositor and the Trustee; the Depositor or the Trustee shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~8.08 hereof. As long as the Certificate Insurance Policy is in effect, the Trustee will send a written notice to the Certificate Insurer of any such resignation, removal or appointment.

Appears in 5 contracts

Samples: Pooling Agreement (HarborView Mortgage Loan Trust 2005-10), Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc), Pooling Agreement (Mortgage Loan Pass-Through Certificates Series 2005-12)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the NIMS Insurer, the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee acceptable to the NIMS Insurer by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or the NIMS Insurer or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor~~ Depositor, the Servicer or the ~~Servicer~~ NIMS Insurer may remove the Trustee. If the ~~Depositor~~ Depositor, the Servicer or the ~~Servicer~~ NIMS Insurer removes the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Depositor, with the consent of the NIMS Insurer, shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders (or the NIMS Insurer upon the failure of the Trustee to perform its obligations hereunder) may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee acceptable to the NIMS Insurer in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08. Any Person appointed as successor trustee pursuant to this Agreement shall also be required to serve as successor supplemental interest trust trustee under the Interest Rate Swap Agreement.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-4), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-2), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1)

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Ns1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Wf1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Wf2)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of ~~its~~ their property shall be appointed, or any public officer shall take charge or control of the Trustee or of ~~its~~ their property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp. ABFC Asset Backed Certificates Series 2004-Opt3), Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2004-Opt1), Pooling and Servicing Agreement (Asset Backed Funding Corp Abfc Asset Back Cert Ser 2003 Opt1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the~~ Servicer and ~~each Rating Agency~~the Certificate Insurer. Upon receiving such notice of resignation, the ~~Depositor shall~~ Servicer shall, with the consent of the Certificate Insurer, promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 10.8 and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer or the Certificate Insurer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, ~~conservation~~ conservation, or liquidation, then the ~~Depositor~~ Servicer or the ~~Servicer~~ Certificate Insurer may remove the Trustee. If ~~the Depositor or the Servicer removes~~ it shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee that meets the eligibility requirements of Section 10.8 by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the~~ Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 10.9 shall not become effective without the consent of the Certificate Insurer and until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.10.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB), Pooling and Servicing Agreement (Chevy Chase Bank FSB), Pooling and Servicing Agreement (Chevy Chase Bank FSB)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the NIMS Insurer, the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee acceptable to the NIMS Insurer by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or the NIMS Insurer or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor~~ Depositor, the NIMS Insurer or the Servicer may remove the Trustee. If the ~~Depositor~~ Depositor, the NIMS Insurer or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Depositor, with the consent of the NIMS Insurer, shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders (or the NIMS Insurer upon the failure of the Trustee to perform its obligations hereunder) may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee acceptable to the NIMS Insurer in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ffh3), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ffh3), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ffh4)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Master Servicer may remove the Trustee. If the Depositor or the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Option One Mortgage Acceptance Corp Ass Back Cert Ser 2000 4), Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Ser 2000-2), Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2000-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor ~~Trustee~~ Trustee, by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-Cb6), Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset-Backed Series 2006-Cb4), Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-Cb3)

Resignation or Removal of Trustee. The Trustee (including the Trustee as Certificate Registrar) may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the Trustee, the Depositor, the ~~Servicer~~ Seller, and ~~each~~ the Rating Agency. Upon receiving such notice of ~~resignation~~resignation of the Trustee, the Depositor shall promptly appoint a successor Trustee that meets the requirements in Section 8.06 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 ~~and shall fail to resign after written request therefor by the Depositor~~ hereof or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee that meets the requirements of Section 8.06, by written instrument, in ~~duplicate~~triplicate, one copy of which instrument shall be delivered to the Trustee so ~~removed~~ removed, and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the ~~Servicer, the~~ Depositor and the Trustee; the Depositor or the Trustee shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~8.08 hereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-9), Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-11), Pooling and Servicing Agreement (Greenwich HarborView Mortgage Loan Trust 2005-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (PHHMC Mortgage Pass-Through Certificates, Series 2005-4), Pooling and Servicing Agreement (CDMC Mortgage Pass-Through Certificates Series 2003-1), Pooling and Servicing Agreement (Cendant Mortgage Capital LLC)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the ~~Servicer~~ Servicers and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the ~~Servicer~~ Servicers may remove the Trustee. If the Depositor or the ~~Servicer~~ Servicers removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the ~~Servicer~~Servicers, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-2), Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-B), Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-A)

Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged from the trusts ~~hereby~~ created by the Agreement by giving written notice thereof to the ~~Depositor,~~ Seller and the ~~Servicer and each Rating Agency~~Servicer. Upon receiving such notice of resignation, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. . (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 19.09 and shall fail to resign after written request therefor by the ~~Depositor~~ Seller or the Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor~~ Seller or the Servicer may remove the Trustee. If ~~the Depositor or the Servicer removes~~ it shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered~~ Trustee, and shall promptly pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section.~~ . (c) Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~19.11. The Servicer shall give each Rating Agency notice of any such resignation or removal of the Trustee and appointment and acceptance of a successor Trustee.

Appears in 3 contracts

Samples: Standard Terms and Conditions Agreement (Honda Auto Receivables 1996-a Grantor Trust), Standard Terms and Conditions Agreement (American Honda Receivables Corp), Standard Terms and Conditions Agreement (Pooled Auto Securities Shelf LLC)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor~~Master Servicer, the ~~Servicer~~ Depositor and ~~each~~ the Rating ~~Agency~~Agencies. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~resigning Trustee~~ Master Servicer and the Depositor and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 thirty (30) days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If If, at any ~~time~~ time, the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer removes~~ shall have removed the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. ~~The Majority Certificateholders may at~~ Upon appointment of any ~~time remove~~ successor Trustee, the Trustee ~~by written instrument or instruments delivered~~ being replaced shall change the name of the Certificate Account to the ~~Servicer, the Depositor and the~~ name of such successor Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~11.08.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Cit Home Equity Loan Trust 2002-1), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Acceptance Corp), Pooling and Servicing Agreement (Cit Home Equity Loan Trust 2003-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff11 Asset-Backed Certificates, Series 2004-Ff11), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff5)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Servicer. Upon receiving such notice of resignation, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 20.09 and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the~~ Servicer may remove the Trustee. If ~~the Depositor or the Servicer removes~~ it shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which ~~instrument~~ shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the~~ Trustee ~~by written instrument or instruments delivered~~ and payment of all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to ~~any of the provisions of~~ this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~20.11.

Appears in 2 contracts

Samples: Standard Terms and Conditions Agreement (Fleetwood Credit Receivables Corp), Standard Terms and Conditions Agreement (Fleetwood Credit Receivables Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Servicer. Upon receiving such notice of resignation, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.09 and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, ~~conservation~~ conservation, or liquidation, then ~~the Depositor or~~ the Servicer may remove the Trustee. If ~~the Depositor or the Servicer removes~~ it shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the~~ Trustee ~~by written instrument or instruments delivered~~ and shall promptly pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.10 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~11.11 and payment of all fees and expenses owed and any other amounts due hereunder to the outgoing Trustee. The Servicer shall provide notice of such resignation or removal of the Trustee to each of the Rating Agencies.

Appears in 2 contracts

Samples: Pool and Servicing Agreement (Nissan Auto Receivables Corp Ii), Pooling and Servicing Agreement (Nissan Auto Receivables Corp Ii)

Resignation or Removal of Trustee. ~~The~~ (a) Trustee may ~~at any time resign and be discharged from the trusts hereby created~~ resign, by ~~giving~~ written ~~notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such~~ notice of resignation, ~~the Depositor~~ effective not less than ninety (90) days after receipt by Grantor and Beneficiary of such notice. Grantor may remove Trustee at any time, without assigning any cause therefor, upon ninety (90) days prior written notice to Trustee. Grantor and Beneficiary shall ~~promptly~~ appoint and approve a successor Trustee ~~by written instrument, in duplicate, one copy~~ upon receipt of ~~which instrument shall be delivered to the resigning Trustee and one copy to the successor~~ Trustee~~. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such~~ 's notice of resignation, or upon removal. No such resignation or removal shall be effective until a successor trustee has been duly appointed and approved and such successor trustee has accepted such appointment and all Trust Assets has been duly transferred to the ~~resigning~~ successor trustee; provided that, Trustee ~~may petition any court~~ reserves the right, in the event of ~~competent jurisdiction for~~ its resignation or removal to seek appropriate judicial relief in the event a successor Trustee has not been appointed or approved within 90 days after the effective date of Trustee's resignation. In case of appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to acttrustee, ~~or shall be adjudged a bankrupt or insolvent, or a receiver~~ all of the powers, rights and duties of Trustee named herein shall survive and continue in the successor trustee and every successor trustee shall succeed to, take and have all the estate, powers, rights and duties which belonged to or of were held by its ~~property shall be appointed, or any public officer shall take charge or control~~ predecessor. In the case of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of a trustee, such trustee shall have the ~~Trustee~~ right to an accounting with respect to the Trust Account and ~~appointment~~ payment of any and all fees, and expenses and other obligations owing to such trustee. (b) Any successor trustee shall be a ~~successor Trustee pursuant to any~~ bank or trust company organized and existing under laws of the ~~provisions~~ State of ~~this Section 8.07~~ Texas or shall be a member of the Federal Reserve System of the United States, and shall not ~~become effective until acceptance~~ be parent, subsidiary or affiliate of ~~appointment by the successor Trustee as provided in Section 8.08~~either Grantor or Beneficiary.

Appears in 2 contracts

Samples: Coinsurance Reinsurance Agreement (Citizens Inc), Coinsurance Reinsurance Agreement (Citizens Inc)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Cendant Mortgage Capital LLC), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor~~Master Servicer, the ~~Servicer~~ Company and ~~each~~ the Rating ~~Agency~~Agencies. Upon receiving such notice of resignation, the ~~Depositor~~ Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~resigning Trustee~~ Master Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 thirty (30) days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If If, at any ~~time~~ time, the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Company, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Company may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Company shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. ~~The Majority Certificateholders may at~~ Upon appointment of any ~~time remove~~ successor Trustee, the Trustee ~~by written instrument or instruments delivered~~ being replaced shall change the name of the Certificate Account to the ~~Servicer, the Depositor and the~~ name of such successor Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~11.08.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Cit Home Equity Loan Trust 1997-1), Pooling and Servicing Agreement (Cit Group Securitization Corp Iii)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Administrator. Upon receiving such notice of resignation, the ~~Depositor~~ Administrator, on behalf of the Trust, shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with ~~the provisions of~~ Section ~~8.06~~ 10.1 and shall fail to resign after written request therefor by the ~~Depositor~~ Administrator, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or~~ Administrator, on behalf of the ~~Servicer~~ Trust, may remove the Trustee. If the ~~Depositor or~~ Administrator, on behalf of the ~~Servicer removes~~ Trust, shall remove the Trustee under the authority of the ~~immediately~~ preceding sentence, the ~~Depositor~~ Administrator, on behalf of the Trust, shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered~~ Trustee, and pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to ~~any of the provisions of~~ this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.3 and payment of all fees and expenses owed to the outgoing Trustee. The Administrator shall provide notice of such resignation or removal of the Trustee to each of the Rating Agencies.

Appears in 2 contracts

Samples: Trust Agreement (GE Capital Credit Card Master Note Trust), Trust Agreement (Cef Equipment Holding LLC)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the 123 Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp First Franklin Mort Ln Tr 03 Ff1), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2003-Ff2)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the ~~Servicer~~ Servicers, the Custodian and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 6.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after such removal, the removed Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the ~~Trustee;~~ Trustee and the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee or pursuant to any of the provisions of this Section ~~8.07~~ 6.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~6.08.

Appears in 2 contracts

Samples: Pooling Agreement (Morgan Stanley ABS Capital I Inc. Trust, Series 2004-Sd2), Pooling Agreement (Morgan Stanley Abs Capital I Inc Trust Series 2004-Sd1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer~~ Seller and each ~~Rating Agency~~Certificateholder. Upon receiving such notice of resignation, the ~~Depositor~~ Majority Certificateholders shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.08 and shall fail to resign after written request therefor by the ~~Depositor~~ Seller, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Majority Certificateholders may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Majority Certificateholders shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Majority Certificateholders shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the~~ Trustee ~~by written instrument or instruments delivered~~ and payment of all fees and expenses owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.09 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~11.10 and payment of all fees and expenses owed to the outgoing Trustee or upon order of a court of competent jurisdiction.

Appears in 2 contracts

Samples: Master Trust Agreement (Aegis Consumer Funding Group Inc), Master Trust Agreement (Aegis Consumer Funding Group Inc)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Master Servicer may remove the Trustee. If the Depositor or the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one 119 copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Series 2000-3), Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Series 2000-3)

Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged from the trusts ~~hereby~~ created by this Agreement by giving at least 30 days' prior written notice thereof to the ~~Depositor, the~~ Servicer and ~~each Rating Agency~~the Noteholders. Upon receiving such notice of resignation, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee acceptable to the Noteholders by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. . (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 9.09 and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer, or the Controlling Party, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Controlling Party may remove the Trustee. If the ~~Depositor or the Servicer removes the~~ Trustee is removed under the authority of the immediately preceding sentence, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee acceptable to the Controlling Party, by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered~~ Trustee, and pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section.~~ . (c) Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~9.11. The Servicer shall give the Rating Agency, the Placement Agent, the Note Insurer and the Noteholders notice of any such resignation or removal of the Trustee and appointment and acceptance of a successor Trustee.

Appears in 2 contracts

Samples: Indenture and Servicing Agreement (Creditrust Corp), Indenture and Servicing Agreement (Creditrust Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Administrator. Upon receiving such notice of resignation, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Administrator any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with ~~the provisions of~~ Section ~~8.06~~ 10.1 and shall fail to resign after written request therefor by the ~~Depositor~~ Administrator, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Administrator may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Administrator shall remove the Trustee under the authority of the ~~immediately~~ preceding sentence, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered~~ Trustee, and pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to ~~any of the provisions of~~ this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.3 and payment of all fees and expenses owed to the outgoing Trustee. The Administrator shall provide notice of such resignation or removal of the Trustee to each of the Rating Agencies and the Counterparty.

Appears in 2 contracts

Samples: Trust Agreement (CNH Equipment Trust 2006-B), Trust Agreement (CNH Equipment Trust 2007-A)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the~~ Servicer and ~~each Rating Agency~~the Originator. Upon receiving such notice of resignation, the ~~Depositor~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~resigning Trustee~~ Servicer and the Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 7.07 and shall fail to resign after written request therefor by the ~~Depositor~~ Originator, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Originator may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 7.08 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~7.09.

Appears in 1 contract

Samples: Trust Agreement (Conseco Finance Securitizations Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the ~~Servicer~~ Servicers and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the ~~Servicer~~ Servicers may remove the Trustee. If the Depositor or the ~~Servicer~~ Servicers removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the ~~Servicer~~Servicers, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Ctx1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor~~Master Servicer, the ~~Servicer~~ Depositor and ~~each~~ the Rating ~~Agency~~Agencies. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~resigning Trustee~~ Master Servicer and ~~one copy to~~ the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 thirty (30) days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If If, at any ~~time~~ time, the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer removes~~ shall have removed the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. ~~The Majority Certificateholders may at~~ Upon appointment of any ~~time remove~~ successor Trustee, the Trustee ~~by written instrument or instruments delivered~~ being replaced shall change the name of the Certificate Account to the ~~Servicer, the Depositor and the~~ name of such successor Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~11.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cit Group Securitization Corp Iii)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the 139 resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Finance America Mortgage Loan Trust 2004-2)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the ~~Servicer~~ Servicers and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of ~~its~~ their property shall be appointed, or any public officer shall take charge or control of the Trustee or of ~~its~~ their property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the ~~Servicer~~Servicers, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mid State Capital Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Seller, the Master Servicer and ~~each~~ the Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 ~~and shall fail to resign after written request therefor by the Depositor~~ hereof or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in ~~duplicate~~triplicate, one copy of which instrument shall be delivered to the Trustee so ~~removed~~ removed, one copy to the successor trustee and one copy to the ~~successor trustee~~Master Servicer. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to ~~the Servicer,~~ the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Thornburg Mortgage Sec Tr 2001-1 MRT Ln Ps THR CRT Sr 2001-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor~~Master Servicer, the ~~Servicer~~ Company and ~~each~~ [Rating Agency]. Upon receiving such notice of resignation, the ~~Depositor~~ Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~resigning Trustee~~ Master Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If If, at any ~~time~~ time, the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Company, or if at any time the ~~Trustee~~ Trustees shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Company may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Company shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. ~~The Majority Certificateholders may at~~ Upon appointment of any ~~time remove~~ successor Trustee, the Trustee ~~by written instrument or instruments delivered~~ being replaced shall change the name of the Certificate Account to the ~~Servicer, the Depositor and the~~ name of such successor Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~11.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cit Group Holdings Inc /De/)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the 128 resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset-Backed Certs Series 2004-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.. 126

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the 125 Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2003-Ff4)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or 117 liquidation, then the Depositor or the Master Servicer may remove the Trustee. If the Depositor or the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Certificates Series 2001-Ff2)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Seller, the Servicer and ~~each~~ the Rating ~~Agency~~Agencies. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 ~~and shall fail to resign after written request therefor by the Depositor~~ hereof or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in ~~duplicate~~quadruplicate, one copy of which instrument shall be delivered to the Servicer, one copy to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Seller, the Servicer and ~~each~~ the Rating ~~Agency~~Agencies. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 ~~and shall fail to resign after written request therefor by the Depositor~~ hereof or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Seller shall promptly appoint a successor ~~Trustee~~ Trustee, with the consent of the Depositor, which consent shall not be unreasonably withheld, by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the ~~Depositor~~ Seller, with the consent of the Depositor, which consent shall not be unreasonably withheld, shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Provident Funding Mortgage Pass-Through Cert Series 2003-1)

Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving 30 days' prior written notice thereof to ~~the Depositor~~NAFCO, the ~~Servicer~~ Administrator, the Applicable Rating Agencies, the Certificateholders and ~~each Rating Agency~~the Purchaser Agents. Upon receiving such notice of resignation, ~~the Depositor~~ NAFCO shall promptly appoint a successor ~~Trustee~~ trustee who meets the eligibility requirements set forth in Section 11.06 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction ~~for the appointment of~~ to appoint a successor ~~Trustee.~~ trustee. (b) If at any time the Trustee shall cease to be eligible to be the Trustee hereunder in accordance with the provisions of Section ~~8.06~~ 11.06 hereof and shall fail to resign promptly after its receipt of a written request therefor by the ~~Depositor~~ Administrator, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or if a receiver of for the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Administrator may remove the ~~Trustee. If the Depositor or the Servicer removes the~~ Trustee ~~under the authority of the immediately preceding sentence, the Depositor shall~~ and promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. . (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.07 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~8.08~~11.08 hereof.

Appears in 1 contract

Samples: Pooling and Administration Agreement (National Auto Finance Co Inc)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and ~~each~~ the Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 60 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. 110 Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cendant Mortgage Capital LLC CDMC Mort Pas THR Ce Se 04 1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the 130 Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2003-FFC)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the 135 Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Secs Corp Asset Backed Cert Sers 2003 Ff5)

Resignation or Removal of Trustee. The Trustee (including the Trustee as Certificate Registrar) may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the Trustee, the Depositor, the ~~Servicer~~ Seller, the Certificate Insurer and ~~each~~ the Rating ~~Agency~~Agencies. Upon receiving such notice of ~~resignation~~resignation of the Trustee, the Depositor shall promptly appoint a successor Trustee that meets the requirements in Section 8.06 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee (a) shall cease to be eligible in accordance with the provisions of Section 8.06 ~~and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee~~ hereof, (b) shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or ~~liquidation~~liquidation or (c) shall fail to deliver to the Depositor and the Sponsor the information, attestations or reports required pursuant to Section 8.01(b) through (d) hereto, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee that meets the requirements of Section 8.06, by written instrument, in ~~duplicate~~triplicate, one copy of which instrument shall be delivered to the Trustee so ~~removed~~ removed, and one copy to the successor ~~trustee~~Trustee and one copy to the Certificate Insurer. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the ~~Servicer, the~~ Depositor and the Trustee; the Depositor or the Trustee shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~8.08 hereof. As long as the Financial Guaranty Insurance Policy is in effect, the Trustee will send a written notice to the Certificate Insurer of any such resignation, removal or appointment.

Appears in 1 contract

Samples: Pooling Agreement (Harborview Mortgage Loan Trust 2006-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Administrator. Upon receiving such notice of resignation, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee meeting the eligibility requirements of Section 10.01 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor 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 Trustee from any obligations otherwise imposed on it under the Basic Documents until such successor has in fact assumed such appointment. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 10.01 and shall fail to resign after written request therefor by the ~~Depositor~~ Administrator, or if at any time the Trustee shall be legally unable to act, or ~~shall be adjudged a bankrupt or insolvent, or a receiver of~~ an Insolvency Event with respect to the Trustee ~~or of its property~~ shall have occurred and be ~~appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation~~continuing, then the ~~Depositor or the Servicer~~ Administrator may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Administrator shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the~~ Trustee ~~by written instrument or instruments delivered~~ and payment of all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.03 and payment of all fees and expenses owed to the outgoing Trustee. The Administrator shall provide notice of such resignation or removal of the Trustee and to each of the Rating Agencies.

Appears in 1 contract

Samples: Trust Agreement (Efg Funding Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor ~~Trustee~~ Trustee, by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.. 121

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ownit Mortgage Loan Trust, Series 2006-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the ~~Servicer~~ Seller and ~~each~~ the Rating ~~Agency~~Agencies. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 ~~and shall fail to resign after written request therefor by the Depositor~~ hereof or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the ~~Servicer, the~~ Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the ~~Servicer~~ Servicers and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor ~~Trustee~~Txxxxxx. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the ~~Servicer~~ Servicers may remove the Trustee. If the Depositor or the ~~Servicer~~ Servicers removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the ~~Servicer~~Servicers, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-4, Asset-Backed Certificates, Series 2005-4)

Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged from the trusts hereby created by giving 30 days' prior written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Servicer. Upon receiving such notice of resignation, the ~~Depositor~~ Servicer shall promptly appoint a successor ~~Trustee~~ Trustee, by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. . (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 10.9 and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a ~~receiver~~ receiver, conservator or liquidator of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the~~ Servicer may remove the Trustee. If the ~~Depositor or the Servicer removes the~~ Trustee is removed under the authority of the immediately preceding sentence, the ~~Depositor~~ Servicer shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the~~ Trustee ~~by written instrument or instruments delivered~~ and shall promptly pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section.~~ . (c) Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 10.10 shall not become effective until acceptance of appointment by the ~~successor~~ succes- 104 111 sor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.11 and payment of all fees and expenses owed and any other amounts due hereunder to the outgoing Trustee. The Servicer shall provide notice of such resignation or removal of the Trustee to the Rating Agencies.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Daimler Benz Vehicle Receivables Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Seller, the Master Servicer and ~~each~~ the Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. 100 If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 ~~and shall fail to resign after written request therefor by the Depositor~~ hereof or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor ~~or the Servicer~~ removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in ~~duplicate~~triplicate, one copy of which instrument shall be delivered to the Trustee so ~~removed~~ removed, one copy to the successor trustee and one copy to the ~~successor trustee~~Master Servicer. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to ~~the Servicer,~~ the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenwich Capital Acc Inc Mort Loan Pas THR Certs Ser 01 2)

Resignation or Removal of Trustee. The Trustee may at --------------------------------- any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Servicer. Upon receiving such notice of resignation, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 10.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the~~ Servicer may remove the Trustee. If the ~~Depositor or the~~ Servicer ~~removes~~ shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered~~ Trustee, and shall pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.08 and payment of all fees and expenses owed to the outgoing Trustee. The Servicer shall provide notice of such resignation or removal of the Trustee to each of the Rating Agencies.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital Ii Inc)

Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor~~Servicer, the ~~Servicer~~ Depositor and each ~~Rating Agency~~Certificateholder. Upon receiving such notice of resignation, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. . (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.08 and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer, the Holders of Applicable Certificates evidencing Percentage Interests of more than 25%, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, ~~conservation~~ conservation, or liquidation, then the ~~Depositor~~ Servicer, or Holders of Applicable Certificates evidencing Percentage Interests of more than 25% of the ~~Servicer~~ related Class may remove the Trustee. If the ~~Depositor~~ Servicer or Certificateholders remove the Trustee, the Servicer ~~removes the Trustee under the authority of the immediately preceding sentence, the Depositor~~ or such Certificateholders shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the~~ Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section.~~ . (c) Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to ~~any of the provisions of~~ this ~~Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.~~Section

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the 127 Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Cert Ser 2003 Ffh1)

Resignation or Removal of Trustee. The Trustee may at any --------------------------------- time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the~~ Master Servicer and ~~each Rating Agency~~the Insurer, which shall become effective upon the appointment of a successor Trustee hereunder. Upon receiving such notice of resignation, the ~~Depositor~~ Master Servicer, with the consent of the Insurer (so long as no Insurer Default is continuing), shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 9.6 and shall fail to resign after written request therefor by the ~~Depositor~~ Master Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of ~~rehabilitation,~~ rehabilitation conservation or liquidation, then the ~~Depositor or~~ Master Servicer, with the ~~Servicer~~ consent of the Insurer (so long as no Insurer Default is continuing), may remove the Trustee. If ~~the Depositor or the Servicer removes~~ it shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Master Servicer shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the~~ Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 9.7 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~9.5. The provisions of Section 9.8 shall survive any such resignation or removal.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Transamerica Consumer Mortgage Receivables Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time 119 the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp Asset Back Cert Ser 2003-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or 123 liquidation, then the Depositor or the Master Servicer may remove the Trustee. If the Depositor or the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Assets Sec Corp First Frank Mort Ln Tr 2002-Ff1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor~~Servicer, the ~~Servicer~~ Company and ~~each~~ the Rating ~~Agency~~Agencies. Upon receiving such notice of resignation, the ~~Depositor~~ Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~resigning Trustee~~ Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 thirty (30) days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If If, at any ~~time~~ time, the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 11.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Company, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Company may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Company shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. ~~The Majority Certificateholders may at~~ Upon appointment of any ~~time remove~~ successor Trustee, the Trustee ~~by written instrument or instruments delivered~~ being replaced shall change the name of the Certificate Account to the ~~Servicer, the Depositor and the~~ name of such successor Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~11.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cit Group Securitization Corp Ii)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the NIMS Insurer, the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee acceptable to the NIMS Insurer by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or the NIMS Insurer or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor~~ Depositor, the NIMS Insurer or the Servicer may remove the Trustee. If the ~~Depositor~~ Depositor, the NIMS Insurer or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Depositor, with the consent of the NIMS Insurer, shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders (or the NIMS Insurer upon the failure of the Trustee to perform its obligations hereunder) may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee acceptable to the NIMS Insurer in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Wmc1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Servicer. Upon receiving such notice of resignation, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 20.9 and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the ~~Trustee~~ trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, ~~conservation~~ conservation, or liquidation, then ~~the Depositor or~~ the Servicer may remove the Trustee. If ~~the Depositor or the Servicer removes~~ it shall remove the Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the~~ Trustee ~~by written instrument or instruments delivered~~ and shall promptly pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ 20.10 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~20.11 and payment of all fees and expenses owed and any other amounts due hereunder to the outgoing Trustee. The Servicer shall provide notice of such resignation or removal of the Trustee to each of the rating agencies then rating the Certificates.

Appears in 1 contract

Samples: Standard Terms and Conditions Agreement (Ford Credit Auto Receivables Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning 131 Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Certs Ser 2003-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the ~~Servicer~~ Master Servicers and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the 121 resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the ~~Servicer~~ Master Servicers may remove the Trustee. If the Depositor or the ~~Servicer~~ Master Servicers removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the ~~Servicer~~Master Servicers, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Back Certs Ser 2003-2)

Resignation or Removal of Trustee. 16.1 The Trustee may resign at any ~~time resign and be discharged from~~ time, other than during a Threatened Change in Control Period or upon the ~~trusts hereby created by giving~~ occurrence of a Change in Control, upon six (6) months written notice ~~thereof~~ to the ~~Depositor, the Servicer and each Rating Agency. Upon receiving~~ Company or such ~~notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered~~ shorter period as is acceptable to the ~~resigning Trustee~~ Company (hereinafter referred to as the "Resignation Period") and ~~one copy to~~ immediately after the ~~successor Trustee. If no successor Trustee~~ Resignation Period shall have ~~been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning~~ no further duties hereunder. The Trustee ~~may petition any court of competent jurisdiction for~~ will have no duty to find or secure the appointment of a successor ~~Trustee~~upon its resignation pursuant to this Section nor shall its resignation or its termination of any further duties be contingent upon the appointment and qualification of a successor. ~~If at any time the Trustee shall cease to be eligible in accordance with the provisions~~ Promptly after receipt of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentencesuch notice, the ~~Depositor~~ Company shall ~~promptly~~ appoint a successor trustee, such trustee to become Trustee ~~by written instrument~~upon its acceptance of this Trust. 16.2 During a Threatened Change in Control Period or after the occurrence of a Change in Control, ~~in duplicate, one copy of which instrument shall be delivered to~~ the Trustee ~~so removed and~~ may resign only under one ~~copy to~~ of the ~~successor trustee. The Majority Certificateholders may at any time remove~~ following circumstances: (a) A final decision of a court of competent jurisdiction removing the Trustee by ~~written instrument or instruments delivered~~ reason of such court's determination of the existence of a conflict of interest which prevents the Trustee from properly performing its duties hereunder. The Trustee agrees to ~~the Servicer, the Depositor and the Trustee; the Depositor shall thereupon~~ use its best efforts to ~~appoint~~ avoid any such conflict. For the purpose of this Agreement, the decision of a court shall not be deemed to be final unless the decision is not appealable, or no appeal has been taken from the decision and the time for an appeal has expired. Notwithstanding the foregoing provisions of this subsection (a), such resignation shall not be effective unless the Trustee has obtained the agreement of a bank to act as successor trustee which bank (1) is among the 100 largest banks in ~~accordance with~~ the United States, as measured by assets, and (2) served or then currently serves as the trustee for similar trusts and understands its obligations under such similar trusts. In any event, the Trustee shall continue to be custodian of this ~~Section. Any resignation or removal~~ Trust until the new trustee is in place, and the Trustee shall be entitled to expenses and fees through the later of the effective date of its resignation as Trustee or the end of its custodianship of this Trust's assets. (b) The Trustee has exhausted all of its legal remedies and has been unsuccessful in such litigation to require the Company to remit to the Trustee such amounts as are billed pursuant to Section 9.4 and the assets of the Trust have been exhausted. In such event, the Trustee shall have the right to resign immediately as Trustee, and immediately upon such resignation shall have no further duties hereunder. The Trustee will have no duty to find or secure the appointment of a successor ~~Trustee~~ upon its resignation pursuant to this subsection, nor shall its resignation or the termination of any further duties be contingent upon the appointment and qualification of a successor. In any event, the Trustee shall continue to be custodian of this Trust until the new trustee is in place, and the Trustee shall be entitled to expenses and fees through the later of the ~~provisions~~ effective date of its resignation as Trustee or the end of its custodianship of this ~~Section 8.07~~ Trust's assets. 16.3 Other than during a Threatened Change in Control Period or after the occurrence of a Change in Control, the Company may remove the Trustee upon thirty (30) days written notice to the Trustee, or upon shorter notice if acceptable to the Trustee. Such removal shall ~~not~~ become ~~effective until acceptance~~ effective, however only upon the occurrence of all of the following events: (a) The appointment by the Company of a successor trustee; (b) The acceptance of the trust by the successor trustee; and (c) The delivery of this Trust's assets to the successor trustee. 16.4 Each successor trustee shall have the powers and duties conferred upon the Trustee in this Agreement, and the term "Trustee" as used in this Agreement shall be deemed to include any successor trustee. Upon designation or appointment of a successor trustee, the Trustee shall transfer and deliver this Trust to the successor trustee, reserving such reasonable sums as the Trustee shall deem necessary to defray its expenses in settling its accounts, to pay any of its compensation due and unpaid and to discharge any obligation of this Trust for which the Trustee may be liable. If the sums so reserved are not sufficient for these purposes, the Trustee shall be entitled to recover the amount of any deficiency from either the Company or the successor trustee, or both. When this Trust shall have been transferred and delivered to the successor trustee and the accounts of the Trustee have been settled as provided in ~~Section 8.08~~Article 14 hereof, the Trustee shall be released and discharged from all further accountability or liability for this Trust and shall not be responsible in any way for the further disposition of this Trust or any part thereof. 16.5 Notwithstanding anything to the contrary, in the event it resigns or is removed, the Trustee shall have a right to have its accounts settled as provided in Article 14 hereof.

Appears in 1 contract

Samples: Benefits Protection Trust Agreement (Acuity Brands Inc)

Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving 30 days prior written notice thereof to ~~the Depositor~~NAFCO, the ~~Servicer~~ Administrator, the Applicable Rating Agencies, the Certificateholders and ~~each Rating Agency~~the Purchaser Agents. Upon receiving such notice of resignation, ~~the Depositor~~ NAFCO shall promptly appoint a successor ~~Trustee~~ trustee who meets the eligibility requirements set forth in Section 11.06 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~having~~ shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction ~~for the appointment of~~ to appoint a successor ~~Trustee.~~ trustee. (b) If at any time the Trustee shall cease to be eligible to be the Trustee hereunder in accordance with the provisions of Section ~~8.06~~ 11.06 hereof and shall fail to resign promptly after its receipt of a written request therefor by the ~~Depositor~~ Administrator, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or if a receiver of for the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Administrator may remove the ~~Trustee. If the Depositor or the Servicer removes the~~ Trustee ~~under the authority of the immediately preceding sentence, the Depositor shall~~ and promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. . (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee pursuant~~ trustee Pursuant to any of the provisions of this Section ~~8.07~~ 11.07 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~8.08.~~11.08 hereof

Appears in 1 contract

Samples: Pooling and Administration Agreement (National Auto Finance Co Inc)

Resignation or Removal of Trustee. 44 (a) The Securitization Trustee may at any time resign and be discharged from the trusts ~~hereby~~ created by this Securitization Trust Agreement by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Transferor. Upon receiving such notice of resignation, the ~~Depositor~~ Transferor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. . (b) If at any time the Securitization Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 6.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Transferor, or if at any time the Securitization Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Securitization Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Securitization Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Transferor may remove the Securitization Trustee. If it shall remove the ~~Depositor or the Servicer removes the~~ Securitization Trustee under the authority of the immediately preceding sentence, the ~~Depositor~~ Transferor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Securitization Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered~~ Trustee, and payment of all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section.~~ . (c) Any resignation or removal of the Securitization Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~8.08~~6.

Appears in 1 contract

Samples: Securitization Trust Agreement (Toyota Auto Lease Trust 1997-A)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. 144 If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Meritage Mortgage Loan Trust 2004 1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor ~~Trustee~~ Trustee, by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its 107 property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (C-Bass 2004-Cb8 Trust)

Resignation or Removal of Trustee. 140 The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2004-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any 128 time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chec Loan Trust 2004-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Master Servicer may remove the Trustee. If the Depositor or 117 the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Certs Series 2001 Ff1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of ~~its~~ their property shall be appointed, or any public officer shall take charge or control of the Trustee or of ~~its~~ their property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor ~~or the Servicer~~ may remove the Trustee. If the Depositor or the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~trustee~~Trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor ~~trustee~~ Trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp Abfc Asst BCKD Cert Ser 2002-Opt1)

Resignation or Removal of Trustee. ~~The~~ ‌ (a) Each Trustee may at any time resign and be discharged from ~~the trusts hereby created~~ its duties hereunder by giving written notice thereof to the ~~Depositor,~~ Beneficial Owner and the ~~Servicer and each Rating Agency~~remaining Trustees. Upon receiving such notice of resignation, the ~~Depositor~~ Beneficial Owner shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor ~~Trustee.~~ Xxxxxxx. (b) If at any time the Delaware Trustee shall cease to be eligible in accordance with the provisions of Section ~~8.06~~ 10.1 and shall fail to resign after written request ~~therefor by the Depositor~~ therefor, or if at any time ~~the~~ a Trustee shall die, shall be ~~legally unable to act~~incapable of acting, or shall be adjudged ~~a bankrupt or~~ insolvent, or a receiver or conservator of ~~the~~ a Trustee or of its property shall be appointed, or any public officer shall take charge or control of ~~the~~ a Trustee or of its property or affairs for the purpose of rehabilitation, ~~conservation~~ conservation, or liquidation, then the ~~Depositor or the Servicer~~ Beneficial Owner may remove such Trustee. (c) The Beneficial Owner may remove any Trustee at any time with or without cause upon written notice to all of the ~~Trustee.~~ Trustees. (d) If the ~~Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence~~Beneficial Owner shall remove a Trustee, the ~~Depositor~~ Beneficial Owner shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the~~ Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section.~~ . (e) Any resignation or removal of ~~the~~ a Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~8.08~~10.3 and payment of all fees and expenses owed to the outgoing Trustee.

Appears in 1 contract

Samples: Declaration and Agreement of Trust

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time 131 the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp Asset Back Certs Ser 03-2)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the ~~Depositor~~ Depositor, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the 131 Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff2)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to 131 the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Equifirst Mortgage Loan Trust 2004-3 Asset-Backed Certificates, Series 2004-3)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the 117 Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp First Frank Mort Ln Tr 2002-Ff2)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the ~~Servicer~~ Servicers and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the 133 resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the ~~Servicer~~ Servicers may remove the Trustee. If the Depositor or the ~~Servicer~~ Servicers removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the ~~Servicer~~Servicers, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2004-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by 132 written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp Finance Amer Mo Ln Tr 2003-1)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the ~~Depositor, the Servicer and each Rating Agency~~Administrator. Upon receiving such notice of resignation, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~having~~ have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Administrator any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with ~~the provisions of Section 8.06~~ SECTION 10.1 and shall fail to resign after written request therefor by the ~~Depositor~~ Administrator, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Administrator may remove the Trustee. If the ~~Depositor or the Servicer removes~~ Administrator shall remove the Trustee under the authority of the ~~immediately~~ preceding sentence, the ~~Depositor~~ Administrator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Trustee so removed and one copy to the successor ~~trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered~~ Trustee, and pay all fees owed to the ~~Servicer, the Depositor and the~~ outgoing Trustee~~; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section~~. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to ~~any of the provisions of~~ this Section ~~8.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in Section 8.08~~pursuant to SECTION 10.3 and payment of all fees and expenses owed to the outgoing Trustee. The Administrator shall provide notice of such resignation or removal of the Trustee to each of the Rating Agencies.

Appears in 1 contract

Samples: Trust Agreement (CNH Capital Receivables Inc)

Resignation or Removal of Trustee. ~~The~~ (1) Subject to paragraph (c) below, the Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the ~~Depositor~~Company, the ~~Servicer~~ Servicer, the Letter of Credit Agent, the Administrative Agent and ~~each~~ the Rating ~~Agency~~Agencies. Upon receiving such notice of resignation, the ~~Depositor~~ Company shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee shall have~~ trustee has been so appointed and ~~having~~ has accepted such appointment within 30 thirty (30) days after the giving of such notice of resignation, the resigning Trustee may petition (at the expense of the Company) any court of competent jurisdiction for the appointment of a successor ~~Trustee.~~ trustee. (2) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 hereof and shall fail to resign after written request therefor by the ~~Depositor~~ Servicer, or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or if a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the ~~Depositor or the Servicer~~ Company may remove the ~~Trustee. If the Depositor or the Servicer removes the~~ Trustee ~~under the authority of the immediately preceding sentence, the Depositor shall~~ and promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. . (3) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section 8.08. (4) The obligations of the Company described in Section 8.05 hereof and the obligations of the Servicer described in Section 8.05 hereof and Section 5.02 of the Servicing Agreement shall survive the termination of this Agreement or the removal or resignation of the Trustee as provided in this Agreement. (5) No Trustee under this Agreement shall be personally liable for any action or omission of any successor trustee.

Appears in 1 contract

Samples: Pooling Agreement (Bungeltd)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Master Servicer and each Rating Agency. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Master Servicer may remove the Trustee. If the Depositor or 108 the Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp First Franklin Mort Ln Tr 2000 Ff1)

Resignation or Removal of Trustee. ~~The~~ 5.1.1 Trustee may resign at any time ~~resign and be discharged from the trusts hereby created~~ by giving xxxxxx (90) days’ written notice ~~thereof~~ to Plan Sponsor. The Plan Sponsor may remove Trustee at any time by giving ninety (90) days’ written notice to Trustee. In the ~~Depositor~~case of the resignation or removal of Trustee, the ~~Servicer~~ Plan Sponsor shall appoint a successor trustee who shall have the same powers and ~~each Rating Agency~~duties as those conferred upon Trustee. ~~Upon receiving such notice of resignation,~~ If the ~~Depositor shall promptly~~ Plan Sponsor fails to appoint a successor Trustee ~~by written instrument~~as of the effective date of the Trustee resignation or removal or as of the effective date of the termination of this Schedule and no other Trustee remains, ~~in duplicate, one copy of which instrument shall be delivered to~~ the ~~resigning~~ Trustee will treat the Plan Sponsor as having appointed itself as Trustee and ~~one copy~~ as having filed the Plan Sponsor's acceptance of appointment as successor Trustee with the Trustee. 5.1.2 Trustee shall execute, acknowledge and deliver all documents and written instruments necessary to transfer and deliver all of the assets of the Trust Fund and all rights and privileges therein to the successor ~~Trustee. If no successor Trustee shall have been so appointed and having accepted appointment within 30 days after the giving of such notice of resignation~~trustee or, ~~the resigning Trustee may petition any~~ in its discretion, to a court of competent jurisdiction as the Trustee deems necessary, within a reasonable time, after reserving such reasonable amount as it shall deem necessary to provide for any expenses and payments then chargeable against the Trust Fund for which the Trust Fund may be liable, or for payment of the retiring Trustee’s fees and expenses in connection with the settlement of its account or otherwise. If the assets so withheld shall be insufficient or excessive for such purposes, the retiring Trustee shall be entitled to reimbursement for any deficiency out of the Trust Fund from the successor trustee, or shall deliver the excess to the successor trustee, as the case may be. Following the effective date of the removal or resignation of Trustee, upon request, the Trustee shall provide the Plan Sponsor a written account of all Trust Fund transactions since the most recent report provided to the Plan Sponsor. The provisions of Section 2.6 shall be applicable to such account. The term “Trustee” as used in this Schedule shall be deemed to apply to any successor trustee. 5.1.3 Upon the appointment of a successor ~~Trustee. If at any time~~ trustee, the ~~Trustee shall cease to be eligible in accordance with the provisions of Section 8.06~~ resigning and ~~shall fail to resign after written request therefor by the Depositor or if at any time the~~ removed Trustee shall be ~~legally unable to act~~discharged from further accountability for the Trust Fund, or and shall be ~~adjudged a bankrupt~~ under no further duty, obligation or ~~insolvent, or a receiver~~ responsibility for the disposition by such successor trustee of the ~~Trustee or of its property shall be appointed,~~ Trust Fund or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Servicer may remove the Trustee. If the Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. The Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Servicer, the Depositor and the Trustee; the Depositor shall thereupon use its best efforts to appoint a successor trustee in accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 8.08part thereof.

Appears in 1 contract

Samples: Master Services Agreement

Common use of Resignation or Removal of Trustee Clause in Contracts