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 Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 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. (a) The Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the ~~Servicer~~ Transferor and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Transferor shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 11.6 and shall fail to resign after ~~written~~ request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.8. (d) No Trustee under this Agreement shall be personally liable for any action or omission of any successor trustee.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Credit Card Receivables Funding Corp), Pooling and Servicing Agreement (Partners First Credit Card Master Trust), Pooling and Servicing Agreement (Partners First Receivables Funding Corp)

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 written notice thereof to the ~~Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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. . (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 9.09 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the Trustee. If ~~the Company~~ it shall ~~have removed~~ remove the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. , and payment of all fees owed to the outgoing Trustee. (c) Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~9.11. 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 5 contracts

Samples: Pooling and Servicing Agreement (Toyota Motor Credit Corp), Pooling and Servicing Agreement (Toyota Motor Credit Corp), Pooling and Servicing Agreement (Toyota Motor Credit 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 Servicer and the Company. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Standard & Poor's and Fitch. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 5 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. (a) The Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the ~~Servicer~~ Seller and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Seller shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 11.06 hereof and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.08 hereof.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Daimlerchrysler Wholesale Receivables LLC), Pooling and Servicing Agreement (Carco Auto Loan Master Trust), Pooling and Servicing Agreement (Daimlerchrysler Wholesale Receivables LLC)

Resignation or Removal of Trustee. The Trustee may resign at any time ~~resign~~ and be discharged from the trusts hereby created by giving written notice thereof to the ~~Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 10.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the Trustee. If the ~~Company~~ Servicer shall ~~have removed~~ remove the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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~~. Any resignation or removal of~~ , and shall pay all fees owed to the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08outgoing Trustee.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Corp), Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp), Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp)

Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving 60 days prior written notice thereof to the ~~Servicer~~ Issuer, the Servicer, the Noteholders and ~~the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~each Rating Agency. Upon receiving such notice of resignation, the ~~Company~~ Issuer shall promptly arrange to appoint a successor trustee meeting the requirements of Section 13.6 and the Servicer shall notify the Trustee and each Rating Agency of such appointment by written instrument~~, in duplicate~~, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall~~ have accepted ~~appointment~~ within 30 days after the giving of such notice of resignation, a successor Trustee shall be appointed by Majority Facility Investors. The successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the Trustee. If no successor Trustee shall have been so appointed by the Issuer or the Noteholders and shall have accepted appointment in the manner hereinafter provided, any Noteholder, on behalf of itself and all others similarly situated, or 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 ~~11.06~~ 13.6 and shall fail to resign after written request therefor by the ~~Company~~Issuer 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 ~~Company~~ Issuer, the Servicer or the Majority Facility Investors may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company shall~~ and 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. . (c) At any time the Majority Facility Investors may remove the Trustee and promptly appoint a successor Trustee by written instrument, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor Trustee. (d) Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 13.7 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~13.8.

Appears in 4 contracts

Samples: Amended and Restated Indenture and Servicing Agreement (Travel & Leisure Co.), Amended and Restated Indenture and Servicing Agreement (Wyndham Destinations, Inc.), Indenture and Servicing Agreement (Wyndham Worldwide 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 Servicer and the ~~Company~~Originator. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Standard & Poor's 's, Xxxxx'x and Fitch. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 4 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 Master Servicer and ~~the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~each Rating Agency. Upon receiving such notice of resignation, the ~~Company~~ Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee; provided, however, that any such successor Trustee shall be subject to the prior written approval of the Master Servicer. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 9.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Depositor may remove the Trustee. If the ~~Company shall have removed~~ Depositor removes the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~9.08.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (HFC Revolving Corp), Pooling and Servicing Agreement (HFC Revolving Corp), Pooling and Servicing Agreement (HFC Revolving Corp)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the ~~Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon ~~receiving~~ giving such notice of resignation, the ~~Company~~ Trustee shall promptly appoint a successor Trustee by written ~~instrument, in duplicate, one copy of~~ instrument which instrument shall be delivered ~~to each of the Servicer and the Company and one copy~~ to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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. The Servicer shall provide notice to the Rating Agencies of any resignation of the Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06 and shall fail to resign after written request therefor by the Company,~~ 13.9 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 ~~Company may remove the Trustee~~Trustee shall promptly resign. ~~If the Company shall have removed the~~ The Trustee ~~under the authority of the immediately preceding sentence, the Company~~ shall promptly appoint a successor Trustee by written ~~instrument~~instrument which instrument shall be delivered to the successor Trustee. If the Trustee fails to resign, the Certificateholders shall remove the Trustee and 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 13.10 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~11.08~~13.11.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Usaa Acceptance LLC), Pooling and Servicing Agreement (Usaa Acceptance LLC), Pooling and Servicing Agreement (Usaa Acceptance 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 ~~Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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. The Servicer shall provide notice to the Rating Agencies of any resignation of the Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 10.8 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the Trustee. If ~~the Company~~ it shall ~~have removed~~ remove the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 10.9 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~11.08~~10.10.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Chase Manhattan Bank Usa), Pooling and Servicing Agreement (Chase Manhattan Bank Usa National Association)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the ~~Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon ~~receiving~~ giving such notice of resignation, the ~~Company~~ Trustee shall promptly appoint a successor Trustee by written ~~instrument, in duplicate, one copy of~~ instrument which instrument shall be delivered ~~to each of the Servicer and the Company and one copy~~ to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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. The Servicer shall provide notice to the Rating Agencies of any resignation of the Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06 and shall fail to resign after written request therefor by the Company,~~ 20.9 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 ~~Company may remove the Trustee~~Trustee shall promptly resign. ~~If the Company shall have removed the~~ The Trustee ~~under the authority of the immediately preceding sentence, the Company~~ shall promptly appoint a successor Trustee by written ~~instrument~~instrument which instrument shall be delivered to the successor Trustee. If the Trustee fails to resign, the Certificateholders shall remove the Trustee and 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 20.10 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~11.08~~20.11.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Usaa Federal Savings Bank), Pooling and Servicing Agreement (Usaa Federal Savings Bank)

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 Servicer and the Company. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Standard & Poor's and ~~Fitch~~Xxxxx'x. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 2 contracts

Samples: 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 Servicer and the Company. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Xxxxx'x and Standard & Poor~~'s and Fitch~~'s. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 2 contracts

Samples: 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 ~~Servicer~~ Company of such intention on its part, specifying the date on which its desired resignation shall become effective, provided that such date shall not be less than 60 days from the date on which such notice is given, unless the Company agrees to accept shorter notice. The Trustee hereunder may be removed at any time by the filing with it of an instrument in writing signed on behalf of the Company and specifying such removal and the date when it shall become effective. The Holders of a majority in aggregate principal amount of the Outstanding Notes may remove the Trustee as Trustee by notifying the removed Trustee and the Company. ~~A copy~~ Notwithstanding the dates of ~~any such notice shall be sent to Xxxxx'x~~effectiveness of resignation or removal, ~~Standard & Poor's and Fitch. Upon receiving such notice of resignation~~as the case may be, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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~~ specified in accordance with the ~~provisions of Section 11.06 and~~ preceding sentences, such resignation or removal shall ~~fail to resign after written request therefor~~ take effect only upon the appointment by the Company, as hereinafter provided, of a successor Trustee (which, to qualify as such, shall for all purposes hereunder be a corporation organized and doing business under the laws of the United States of America or ~~if at~~ any ~~time~~ state thereof or the District of Columbia, in good standing and having and acting, either itself or through an affiliate, through an established place of business in the Borough of Manhattan, The City of New York, authorized under such laws to exercise corporate trust powers and having a combined capital and surplus in excess of $50,000,000) and the acceptance of such appointment by such successor Trustee. Upon its resignation or removal, the Trustee shall be ~~legally unable~~ entitled 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 payment by the Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to ~~any~~ Section 6.06 hereof of ~~the provisions~~ compensation for services rendered and to reimbursement of ~~this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08~~reasonable out-of-pocket expenses incurred hereunder.

Appears in 2 contracts

Samples: Indenture (Symetra Financial CORP), Indenture (Symetra Financial CORP)

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 ~~Servicer~~ Transferor and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Servicer (with the consent of each Control Party, which consent shall not be unreasonably withheld) shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 11.06 hereof and shall fail to resign after ------------- written request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the ~~Trustee. If~~ Trustee with the ~~Company~~ consent of each Control Party, which consent shall ~~have removed the Trustee under the authority of the immediately preceding sentence~~not be unreasonably withheld, ~~the Company 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become~~ trustee. (c) effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08.~~11.08 hereof. -------------

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Safeguard Scientifics Inc Et Al), Pooling and Servicing Agreement (Compucom Systems Inc)

Resignation or Removal of Trustee. The Trustee may resign at any time ~~resign and be discharged from the trusts hereby created~~ by ~~giving~~ written notice ~~thereof~~ to the ~~Servicer and the Company. A copy of any such notice~~ Employer, which resignation shall be ~~sent~~ effective 60 days after delivery to ~~Xxxxx'x, Standard & Poor's and Fitch~~the Employer. ~~Upon receiving such notice of resignation,~~ The Trustee may be removed by the ~~Company shall promptly appoint a successor Trustee~~ Employer by written ~~instrument~~notice to the Trustee, ~~in duplicate, one copy of~~ which ~~instrument~~ removal shall be ~~delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30~~ effective 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~~ delivery to be eligible in accordance with the provisions of Section 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any Upon resignation or removal of the Trustee, the Employer may appoint a successor trustee. Any such successor trustee will, upon written acceptance of his appointment, become vested with the estate, rights, powers, discretion, duties and obligations of the Trustee hereunder as if he had been originally named as Trustee in this Agreement. Upon resignation or removal of the Trustee, the Employer will no longer participate in this prototype plan and will be deemed to have adopted an individually designed plan. In such event, the Employer shall appoint a successor trustee within said 60-day period and the Trustee will transfer the assets of the Trust to the successor trustee upon receipt of sufficient evidence (such as a determination letter or opinion letter from the Internal Revenue Service or an opinion of counsel satisfactory to the Trustee) that such trust will be a qualified trust under the Code. The appointment of a successor trustee shall be accomplished by delivery to the Trustee ~~pursuant to any~~ of written notice that the ~~provisions of this Section 11.07 shall not become effective until~~ Employer has appointed such successor trustee, and written acceptance of such appointment by the successor trustee. The Trustee may, upon transfer and delivery of the Trust Fund to a successor trustee, reserve such reasonable amount as ~~provided in Section 11.08.~~it shall deem necessary to provide for its fees, compensation, costs and expenses, or for the payment of any other liabilities chargeable against the Trust Fund for which it may be

Appears in 2 contracts

Samples: Profit Sharing/401(k) Plan (Dep Corp), Adoption Agreement (Infousa 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 ~~Servicer~~ Transferor and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Transferor shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 11.06 and shall fail to resign after ~~written~~ request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section 11.08. (d) No Trustee under this Agreement shall be personally liable for any action or omission of any successor trustee.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Compucredit Corp), Pooling and Servicing Agreement (At&t Universal 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 Servicer and the Company. A copy of any such notice shall be sent to ~~Xxxxx'x, Standard & Poor's and Fitch~~the Rating Agencies. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 2 contracts

Samples: 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 ~~Servicer~~ Seller and the ~~Company~~Certificate Insurer. ~~A copy of any such notice~~ Such appointment shall be ~~sent to Xxxxx'x, Standard & Poor's and Fitch. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee~~ by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. Any such successor Trustee shall be approved in writing by the Servicer, which shall not withhold such approval if the proposed successor Trustee satisfies the eligibility requirements set forth herein. If no successor Trustee shall have been so appointed and ~~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 at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 9.6 and shall fail to resign after written request therefor by the ~~Company~~Seller 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 or liquidation, ~~then~~ the ~~Company~~ Seller may remove the Trustee. ~~If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the Company shall promptly appoint a successor Trustee~~ Such appointment will be 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. A copy of such instrument shall be delivered to the Certificate Insurer. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 9.7 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~9.8.

Appears in 1 contract

Samples: 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 ~~Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Servicer, with the prior written consent of the Surety Bond Issuer, shall promptly appoint a successor ~~Trustee~~ Trustee, by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 15.08 and shall fail to resign after written request therefor by the ~~Company~~Servicer, or if 57 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 ~~Company~~ Servicer may remove the Trustee. If ~~the Company~~ it shall ~~have removed~~ remove the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 15.09 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~11.08~~15.10.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Uacsc 1996-D Auto Trust)

Resignation or Removal of Trustee. The Trustee may --------------------------------- resign at any time ~~resign~~ and be discharged from the trusts hereby created by giving written notice thereof to the ~~Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 10.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the Trustee. If the ~~Company~~ Servicer shall ~~have removed~~ remove the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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~~. Any resignation or removal of~~ , and shall pay all fees owed to the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08outgoing Trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Securities 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 Servicer and the ~~Company~~Originator. A copy of any such notice shall be sent to ~~Xxxxx'x, Standard & Poor's and Fitch~~the Rating Agencies. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

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

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 ~~Servicer~~ Seller and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Seller shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 11.06 and shall fail to resign after ~~written~~ request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section 11.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Household Affinity 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 Servicer and the Company~~. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 ~~11.06~~ 11.07 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.in

Appears in 1 contract

Samples: 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 ~~Servicer and the~~ Company~~. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall have~~ 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 the conditions in any of the following clauses (i), (ii) or (iii) shall occur at any ~~time~~ time, the Company may remove the Trustee: (i) the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.06 and shall fail to resign after written request therefor by the Company~~, or if at any time~~ ; (ii) 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~~ ; or (iii) the replacement of the Trustee with a successor Trustee will enable the Company ~~may remove~~ to avoid (and should, based on the information included in the notice referred to below, result in the avoidance of) a downgrading of the ratings assigned to the Certificates by the Rating Agencies (whether or not other actions could avoid such downgrading) and no Event of Default, as provided by Section 7.01 hereof, shall have occurred or be continuing; provided, however, that no action shall be taken pursuant to this clause (iii) unless reasonable notice shall have been provided to the Trustee, which notice shall set forth the 109 basis for any rating downgrade as contemplated by the Rating Agencies and shall also indicate the manner in which such proposed action is intended to avoid such downgrade. If ~~the Company shall have removed~~ it removes the Trustee under the authority of the immediately preceding sentence, the Company 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~~trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services 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 Servicer and the ~~Company~~Originator. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Standard & Poor's 's, Fitch and ~~Fitch~~Xxxxx'x. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

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

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 ~~Servicer~~ Seller and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Seller shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 11.06 of the Agreement and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.08 of the Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Chicago Master Trust Ii)

Resignation or Removal of Trustee. ~~The~~ Any Trustee may resign at any time ~~resign and be discharged from the trusts hereby created~~ by ~~giving written notice thereof~~ instrument in writing delivered to the ~~Servicer and the Company. A copy of any~~ Company and, in such ~~notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch. Upon receiving such notice of resignation~~event, the Company ~~shall promptly~~ will, within thirty days after receipt of such resignation, appoint a successor ~~Trustee~~ trustee by ~~written instrument,~~ instrument in ~~duplicate, one copy of which instrument shall be~~ writing delivered to ~~each~~ any Trustee and to such successor trustee. The Company also at any time may remove a Trustee upon 30 days' prior written notice to the Trustee and appoint a successor trustee or trustees by instrument in writing delivered to the Trustee and to such successor trustee. In either event, on the appointment of such successor and delivery of the ~~Servicer and~~ successor's written acceptance of the appointment to the Company and ~~one copy~~ the retiring Trustee, the retiring Trustee shall promptly turn over to such successor all Fund assets held by the Trustee and shall make a final accounting to the ~~successor Trustee. If no successor Trustee shall have been so appointed~~ Company and ~~shall have accepted appointment within 30 days after~~ the ~~giving of such notice of resignation~~Administrator; provided, ~~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~~ assets which are invested in accordance with an investment contract or agreement which by its terms precludes the ~~provisions~~ realization upon and distribution of ~~Section 11.06 and~~ such assets for a stated period of time shall ~~fail~~ continue to ~~resign after written request therefor~~ be held by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the ~~authority~~ terms and conditions of this Agreement until the expiration of such period. The successor trustee shall have no responsibility except to receive such money and property from the retiring Trustee and to hold and administer the same thereafter in accordance with this Agreement and shall not be responsible for any act or omission of the ~~immediately preceding sentence~~retiring Trustee, and shall not be required to make any claim or demand against the ~~Company~~ retiring Trustee unless the Administrator 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~~ writing request the successor trustee to make a claim of damage against such retiring Trustee within the time limit prescribed after the filing of the Trustee's final report. Any ~~resignation or removal~~ such successor trustee shall have and may exercise all the rights, powers and duties of the Trustee as fully and ~~appointment of a successor~~ to the same extent as if it had originally been named Trustee ~~pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08~~herein.

Appears in 1 contract

Samples: Employee Stock Ownership Plan and Trust Agreement (Trager Bernard M)

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 Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Manager. Upon receiving such notice of resignation, ~~the Company~~ Manager shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 10.1 and shall fail to resign after written request therefor by ~~the Company~~Manager, 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 Company~~ Manager may remove ~~the~~ Trustee. If ~~the Company~~ Manager shall ~~have removed the~~ remove Trustee under the authority of the ~~immediately~~ preceding sentence, ~~the Company~~ Manager 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. Any resignation or removal of the~~ Trustee and ~~appointment~~ payment of ~~a successor Trustee pursuant~~ all fees owed to ~~any of~~ the ~~provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08~~outgoing Trustee.

Appears in 1 contract

Samples: Trust Agreement (Provident Lease Receivables Corp)

Resignation or Removal of Trustee. ~~The~~ (a) Subject to paragraph (c) below, the Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving 60 calendar days prior written notice thereof to the Company, the Master Servicer and ~~the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~each Funding Agent. Upon receiving such notice of resignation, the Company shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~shall~~ have accepted such 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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.06 and shall fail to resign after written request therefor by the ~~Company~~Master 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 Company may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.07 shall not become effective until acceptance of such appointment by as provided in Section 8.08. (d) The obligations of the ~~successor~~ Company described in Section 8.05 and the obligations of the Master Servicer described in Section 8.05 and Section 5.02 of the Servicing Agreement shall survive the removal or resignation of the Trustee as provided in ~~Section 11.08~~this Agreement. (e) 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 (Huntsman International 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 Servicer and the ~~Company~~Originator. A copy of any such notice shall be sent to Fitch and Xxxxx'x~~, Standard & Poor's and Fitch~~. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

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

Resignation or Removal of Trustee. ~~The~~ (a) 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 ~~Servicer~~ Company, the Servicer, each Agent and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Rating Agencies. Upon receiving such notice of resignation, the Company shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.6 hereof and shall fail to resign after written request therefor by the ~~Company~~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 Company may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.7 shall not become effective until acceptance of appointment by the successor trustee as provided in Section 8.8. (d) The obligations of the Company described in Sections 6.3 and 8.5 hereof and the obligations of the Servicer described in Section 8.5 hereof and Section 5.1 of the Servicing Agreement shall survive the removal or resignation of the Trustee as provided in ~~Section 11.08~~this Agreement. (e) 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 (Core Mark International 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 ~~Servicer and the~~ Company~~. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall have~~ 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 the conditions in any of the following clauses (i), (ii) or (iii) shall occur at any ~~time~~ time, the Company may remove the Trustee: (i) the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.06 and shall fail to resign after written request therefor by the Company~~, or if at any time~~ ; (ii) 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~~ ; or (iii) the replacement of the Trustee with a successor Trustee will enable the Company ~~may remove~~ to avoid (and should, based on the information included in the notice referred to below, result in the avoidance of) a downgrading of the ratings assigned to the Certificates by the Rating Agencies (whether or not other actions could avoid such downgrading) and no Event of Default, as provided by Section 7.01 hereof, shall have occurred or be continuing; provided, however, that no action shall be taken pursuant to this clause (iii) unless reasonable notice shall have been provided to the Trustee, which notice shall set forth the 104 basis for any rating downgrade as contemplated by the Rating Agencies and shall also indicate the manner in which such proposed action is intended to avoid such downgrade. If ~~the Company shall have removed~~ it removes the Trustee under the authority of the immediately preceding sentence, the Company 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~~trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc)

Resignation or Removal of Trustee. ~~The~~ (a) 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 ~~Servicer~~ Company, the Master Servicer, the Rating Agencies and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Agents. Upon receiving such notice of resignation, the Company shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~shall~~ have accepted such 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 ~~11.06~~ 8.06 hereof and shall fail to resign after written request therefor by the ~~Company~~Master 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 Company may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.07 shall not become effective until acceptance of appointment by the successor trustee as provided in Section 8.08. (d) 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 removal or resignation of the Trustee as provided in ~~Section 11.08~~this Agreement. (e) 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 (Ingram Micro 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 Servicer and the Company~~. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 ~~11.06~~ 11.07 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08trustee.

Appears in 1 contract

Samples: 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 Master Servicer and the ~~Company. A copy~~ Insurer, which shall become effective upon the appointment of ~~any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~a successor Trustee hereunder. Upon receiving such notice of resignation, the ~~Company~~ Master Servicer shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 9.6 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Master Servicer may remove the Trustee. If ~~the Company~~ it shall ~~have removed~~ remove the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 9.7 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~11.08~~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. (a) The Trustee may at any --------------------------------- time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to ~~the Servicer~~ Seller and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, ~~the Company~~ Seller shall (i) promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee and (ii) provide written notice to each Rating Agency of such resignation. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 11.6 hereof and shall fail to resign after written request therefor by ~~the Company~~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 Company may~~ Seller may, but shall not be required to, remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ 11.7 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.8 hereof and any liability of the Trustee arising hereunder shall survive such appointment of a successor trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Spiegel Credit 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 Servicer and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Originator. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~Servicer~~ Servicer, the Backup Servicer, and the ~~Company~~ Originator and 121 one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 ~~11.06~~ 11.07 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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~~trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 11.08 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~11.09.

Appears in 1 contract

Samples: 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 ~~the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~each Rating Agency. Upon receiving such notice of resignation, the ~~Company~~ Depositor shall promptly appoint a successor Trustee approved by the Certificate Insurer in writing, which approval shall not be unreasonably withheld, by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall have~~ 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 ~~11.06~~ 8.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Depositor may remove the Trustee. If the ~~Company shall have removed~~ Depositor or the Servicer removes the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc C-Bass 2004-Cb6 Trust)

Resignation or Removal of Trustee. (a) The Trustee may not at any time resign ~~and be discharged from~~ without the ~~trusts hereby created by giving~~ written notice thereof to the Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each consent of the ~~Servicer and the Company and one copy to the successor Trustee. If no successor Trustee~~ UTI Beneficiaries, which consent shall have been so appointed and 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. not be unreasonably withheld. (b) If at any time the Trustee shall cease to be ~~eligible~~ qualified in accordance with Section 5.07, or if any representation or warranty made by the ~~provisions of~~ Trustee pursuant to Section ~~11.06 and~~ 5.12 shall prove to have been untrue in any material respect when made, but the Trustee shall fail to resign after written request therefor by the ~~Company~~UTI Beneficiaries, 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 ~~Company~~ UTI Beneficiaries may remove the Trustee. ~~If the Company shall have removed~~ The UTI Beneficiaries also may remove the Trustee ~~under the authority~~ at their discretion. Upon removal of the ~~immediately preceding sentence~~Trustee, the ~~Company~~ UTI Beneficiaries 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. , together with payment of all fees and expenses owed to the outgoing Trustee. (c) Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to ~~any of the provisions of~~ this ~~Section 11.07~~ Article shall not become effective until acceptance of appointment by the successor ~~Trustee as provided in Section 11.08~~Trustee.

Appears in 1 contract

Samples: Trust and Servicing Agreement (Honda Titling D Lp)

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 Servicer and the ~~Company~~Originator. A copy of any such notice shall be sent to ~~Xxxxx'x, Standard & Poor's and Fitch~~the Rating Agencies. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer, the Backup Servicer and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

Samples: 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 Servicer and the ~~Company~~Originator. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Standard & Poor's and ~~Fitch~~Moody's. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

Samples: 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 Servicer and the Company. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Standard & Poor's 's, Xxxxx'x and Fitch. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

Samples: 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 ~~Servicer and the~~ Company~~. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall have~~ 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. 109 If the conditions in any of the following clauses (i), (ii) or (iii) shall occur at any ~~time~~ time, the Company may remove the Trustee: (i) the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.06 and shall fail to resign after written request therefor by the Company~~, or if at any time~~ ; (ii) 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~~ ; or (iii) the replacement of the Trustee with a successor Trustee will enable the Company ~~may remove~~ to avoid (and should, based on the information included in the notice referred to below, result in the avoidance of) a downgrading of the ratings assigned to the Certificates by the Rating Agencies (whether or not other actions could avoid such downgrading) and no Event of Default, as provided by Section 7.01 hereof, shall have occurred or be continuing; provided, however, that no action shall be taken pursuant to this clause (iii) unless reasonable notice shall have been provided to the Trustee, which notice shall set forth the basis for any rating downgrade as contemplated by the Rating Agencies and shall also indicate the manner in which such proposed action is intended to avoid such downgrade. If ~~the Company shall have removed~~ it removes the Trustee under the authority of the immediately preceding sentence, the Company 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~~trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services 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 ~~Servicer~~ Transferor and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Servicer (with the consent of each Control Party, which consent shall not be unreasonably withheld) shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 11.06 hereof and shall fail to resign after ------------- written request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the ~~Trustee. If~~ Trustee with the ~~Company~~ consent of each Control Party, which consent shall ~~have removed the Trustee under the authority of the immediately preceding sentence~~not be unreasonably withheld, ~~the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section 11.07 shall not become ------------- effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08.~~11.08 hereof. -------------

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Compucom Systems Inc)

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 written notice thereof to the ~~Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Seller. Upon receiving such notice of resignation, the ~~Company~~ Seller shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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. . (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 6.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Seller may remove the Trustee. If ~~the Company~~ it shall ~~have removed~~ remove the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ Seller 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. , and payment of all fees owed to the outgoing Trustee. (c) Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of ~~the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.~~the

Appears in 1 contract

Samples: Securitization Trust Agreement (World Omni 1996-B Automobile Lease Securitization 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 Servicer and the Company. A copy of any such notice shall be sent to ~~Xxxxx'x, Standard & Poor's~~ Xxxxx'x and Fitch. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the Company, or if at any time the Trustee shall be legally unable to act, or shall be 11-5 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

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

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 ~~Servicer~~ Transferor and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Transferor shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~shall~~ have accepted appointment within 30 days after the giving of such notice of 100 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 ~~11.06~~ 11.6 and shall fail to resign after ~~written~~ request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.8. (d) No Trustee under this Agreement shall be personally liable for any action or omission of any successor trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First National Bank of Atlanta)

Resignation or Removal of Trustee. ~~The~~ (a) Trustee may at any time resign and be discharged from the ~~trusts~~ Trust hereby created by giving written notice thereof to ~~the Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, ~~the Company~~ Servicer shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time ~~the~~ Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 11.6 hereof and shall ~~fail~~ fall to resign after written request therefor by ~~the Company~~Transferor, 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 Company may~~ Transferor may, but shall not be required to, remove ~~the Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of ~~the~~ Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ 11.7 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.8 hereof and any liability of Trustee arising hereunder shall survive such appointment of a successor trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Master Trust)

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 ~~Servicer~~ Depositor and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Depositor shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 11.06 hereof and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Servicer may with the Consent of Certificateholders (not to be unreasonably withheld), but shall not be required to, remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.08 hereof. (d) The Trustee shall not be liable for any acts or omissions of any Successor Trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gottschalks 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 Servicer and the Company. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Standard & Poor's and Fitch. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee 11-5 under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

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

Resignation or Removal of Trustee. ~~The~~ Any Trustee acting hereunder may resign at any time upon thirty (30) days' written notice to the Company, and the Company may at any time ~~resign and be discharged from the trusts hereby created by giving~~ remove any Trustee upon thirty (30) days' written notice ~~thereof~~ to the ~~Servicer~~ Trustee; but the Company and the ~~Company~~Trustee may by written instrument waive or modify such notice. ~~A copy of~~ If any ~~such notice~~ Trustee shall resign, be ~~sent~~ removed or for any other reason cease to ~~Xxxxx'x, Standard & Poor's and Fitch. Upon receiving such notice of resignation~~be Trustee, the Company shall ~~promptly~~ appoint a successor Trustee ~~by written instrument~~or Trustees, ~~in duplicate~~and if no such successor Trustee is appointed, ~~one copy of which instrument shall be delivered to each~~ the Trustee may deliver the assets of the ~~Servicer and~~ Trust to the Committee or the Company ~~and one copy to the~~ as successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered Subject to the ~~Trustee so removed and one copy to the successor Trustee. Any~~ foregoing provisions, any resignation or removal of the Trustee ~~and~~ or appointment of a new Trustee shall be by instrument in writing and shall become effective on the date therein specified. Any successor Trustee ~~pursuant~~ shall have the same powers and duties as the succeeded Trustee, subject to such changes as the Company may then determine. The appointment of any successor Trustee or Trustees hereunder shall without any separate instrument or conveyance immediately vest title to the assets of the ~~provisions of this Section 11.07 shall not become effective until acceptance of appointment by the~~ Trust in such successor Trustee or Trustees. Upon request of such successor Trustee or Trustees, the Company and the Trustee ceasing to act shall execute and deliver such instruments of conveyance and further assurance and do such other things as ~~provided~~ may reasonably be required for more fully and certainly vesting and confirming in ~~Section 11.08~~such successor Trustee or Trustees all the right, title, and interest of the retiring Trustee in and to the Trust funds. A successor Trustee will have no responsibility or liability for any act or omission in the administration of the Trust before the effective date of its appointment as successor Trustee.

Appears in 1 contract

Samples: Employees' Stock Ownership Plan and Trust Agreement (Massbank 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 ~~Servicer~~ Depositor, the Master Servicer, the Certificate Insurer and ~~the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~each Rating Agency. Upon receiving such notice of resignation, the ~~Company~~ Depositor shall promptly appoint a successor Trustee (approved in writing by the Certificate Insurer) by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall have~~ 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 ~~11.06~~ 8.06 and shall fail to resign after written request therefor by the ~~Company~~Depositor 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 or liquidation, then the ~~Company~~ Depositor, the Master Servicer or the Certificate Insurer may remove the Trustee. If the ~~Company shall have removed~~ Depositor, the Master Servicer or the Certificate Insurer removes the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ Depositor shall promptly appoint a successor Trustee (approved in writing by the Certificate Insurer) 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (United Panam Financial Corp)

Resignation or Removal of Trustee. ~~The~~ (a) 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 ~~Servicer~~ Company, the Servicer, the Letter of Credit Agent, the Administrative Agent and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Rating Agencies. Upon receiving such notice of resignation, the Company shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee shall have~~ trustee has been so appointed and ~~shall have~~ 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. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.06 hereof and shall fail to resign after written request therefor by the ~~Company~~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 Company may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.07 shall not become effective until acceptance of appointment by the successor trustee as provided in Section 8.08. (d) 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 ~~Section 11.08~~this Agreement. (e) 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 (Bunge LTD)

Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the ~~Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon ~~receiving~~ giving such notice of resignation, the ~~Company~~ Trustee shall promptly appoint a successor Trustee by written ~~instrument, in duplicate, one copy of~~ instrument which instrument shall be ~~delivered to each of the Servicer and the Company and one copy~~ deliv ered to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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. The Servicer shall provide notice to the Rating Agencies of any resignation of the Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06 and shall fail to resign after written request therefor by the Company,~~ 20.9 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 ~~Company may remove the Trustee~~Trustee shall promptly resign. ~~If the Company shall have removed the~~ The Trustee ~~under the authority of the immediately preceding sentence, the Company~~ shall promptly appoint a successor Trustee by written ~~instrument~~instrument which instrument shall be delivered to the successor Trustee. If the Trustee fails to resign, the Certificateholders shall remove the Trustee and 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 20.10 shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~11.08~~20.11.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Usaa Federal Savings 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 prior written notice thereof to the Issuer, the Series 2010-1 Noteholders, the Master Servicer and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Collateral Trustee. Upon receiving such notice of resignation, the ~~Company~~ Issuer shall promptly appoint a successor ~~Trustee~~ trustee acceptable to the Control Party by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be ~~eligible~~ an Eligible Institution in accordance with ~~the provisions of~~ Section ~~11.06~~ 11.05 hereof and shall fail to resign after written request therefor by the ~~Company~~Master Servicer, the Issuer or the Control Party, 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 a trustee for it or for 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 ~~Company may~~ Issuer shall remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company shall~~ and promptly appoint a successor ~~Trustee~~ trustee acceptable to the Control 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ 11.06 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.07 hereof.

Appears in 1 contract

Samples: Master Trust Indenture (Imperial Holdings, 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 ~~Servicer and the~~ Company~~. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall have~~ 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 the conditions in any of the following clauses (i), (ii) or (iii) shall occur at any ~~time~~ time, the Company may remove the Trustee: (i) the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.06 and shall fail to resign after written request therefor by the Company~~, or if at any time~~ ; (ii) 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~~ ; or (iii) the replacement of the Trustee with a successor Trustee will enable the Company ~~may remove~~ to avoid (and should, based on the information included in the notice referred to below, result in the avoidance of) a downgrading of the ratings assigned to the Certificates by the Rating Agencies (whether or not other actions could avoid such downgrading) and no Event of Default, as provided by Section 7.01 hereof, shall have occurred or be continuing; provided, however, that no action shall be taken pursuant to this clause (iii) unless reasonable notice shall have been provided to the Trustee, which notice shall set forth the 107 basis for any rating downgrade as contemplated by the Rating Agencies and shall also indicate the manner in which such proposed action is intended to avoid such downgrade. If ~~the Company shall have removed~~ it removes the Trustee under the authority of the immediately preceding sentence, the Company 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~~trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services 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 Master Servicer and ~~the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~each Rating Agency. Upon receiving such notice of resignation, the ~~Company~~ Master Servicer shall promptly appoint a successor Trustee (which successor Trustee shall be reasonably acceptable to the Depositor) by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall have~~ 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 ~~11.06~~ 9.06 and shall fail to resign after written request therefor by the ~~Company~~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, conservation or liquidation, then the ~~Company~~ Master Servicer may remove the Trustee. If the ~~Company shall have removed~~ Master Servicer removes the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ Master Servicer shall promptly appoint a successor Trustee (which successor Trustee shall be reasonably acceptable to the Depositor) 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 9.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~9.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Beneficial Mortgage Services Inc)

Resignation or Removal of Trustee. (a) The Trustee may at any ~~time~~ the resign and be discharged from the ~~trusts~~ trust hereby created by giving written notice thereof to the ~~Servicer~~ Depositor and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Depositor shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 11.06 and shall fail to resign after written request therefor by the ~~Company~~Servicer or 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 ~~Company may~~ Servicer shall remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ which (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.08 and any liability of the Trustee arising hereunder shall survive such appointment of a successor trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Securities 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 Servicer and the ~~Company~~Originator. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Standard & Poor's 's, Fitch and ~~Fitch~~Xxxxx'x. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.. 11-5

Appears in 1 contract

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

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 following the ~~trusts hereby created by giving~~ occurrence of a Change in Control, upon six (6) months' written notice ~~thereof~~ to the ~~Servicer and the Company. A copy of any~~ Company or such ~~notice shall be sent~~ shorter period as is acceptable to ~~Xxxxx'x, Standard & Poor's and Fitch. Upon receiving such notice of resignation,~~ the Company ~~shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered~~ (hereinafter referred to ~~each of~~ as the ~~Servicer~~ "Resignation Period") and immediately after the ~~Company and one copy to the successor Trustee. If no successor Trustee~~ Resignation Period shall have ~~been so appointed and shall~~ no further duties hereunder. The Trustee will 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~~ 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 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentencesuch notice, the Company shall ~~promptly~~ appoint a successor trustee, such trustee to become Trustee upon its acceptance of this Trust. 16.2 During a Threatened Change in Control Period or after the occurrence of a Change in Control, the Trustee may resign only if a final decision of a court of competent jurisdiction removes the Trustee by ~~written instrument, in duplicate, one copy~~ reason of such court's determination of the existence of a conflict of interest which ~~instrument shall be delivered to~~ prevents the Trustee ~~so removed and one copy~~ from properly performing its duties hereunder. The Trustee agrees to use its best efforts to avoid any such conflict. For the ~~successor Trustee. Any resignation or removal~~ purpose of this Agreement, the ~~Trustee and appointment~~ decision of a ~~successor Trustee pursuant~~ court shall not be deemed to ~~any of~~ 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 Section ~~11.07~~ 16.2, such resignation shall not ~~become~~ be effective ~~until acceptance~~ unless the Trustee has obtained the agreement of ~~appointment~~ a bank to act as successor trustee which bank (1) is among the 100 largest banks in the United States, as measured by assets, and (2) served or then currently serves as the ~~successor Trustee as provided in Section 11.08.~~trustee for similar trusts and understands its obligations

Appears in 1 contract

Samples: Executive Benefits Trust Agreement (L&c Spinco 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 Servicer and~~ the Company. ~~A copy~~ Such resignation shall take effect upon delivery of ~~any such notice~~ the Property, and all documentation relating thereto in possession of the Trustee or its affiliates, to a successor Trustee designated in writing by the Company, and the Trustee shall thereupon be ~~sent~~ discharged from all obligations under this Agreement, and shall have no further duties or responsibilities in connection herewith. (b) In the event the Trustee fails to ~~Xxxxx'x, Standard & Poor's and Fitch. Upon receiving such notice of resignation~~perform its obligations under this Agreement, the Company may remove the Trustee upon written notice to the Trustee. Such removal shall ~~promptly appoint~~ take effect upon delivery of the Property, and all documentation relating thereto in possession of the Trustee or its affiliates, to a successor Trustee designated in writing by ~~written instrument~~the Company, ~~in duplicate, one copy of which instrument shall be delivered to each of the Servicer~~ and the ~~Company and one copy to the successor Trustee. If no successor~~ Trustee shall ~~have been so appointed~~ thereupon be discharged from all obligations under this Agreement, and shall have ~~accepted appointment within~~ no further duties or responsibilities in connection herewith. The Trustee shall deliver the Property, and all documentation relating thereto in possession of the Trustee or its affiliates, without unreasonable delay after receiving the Company’s designation of a successor Trustee. (c) If after 30 days ~~after~~ from the ~~giving~~ date of ~~such~~ delivery of its written notice of ~~resignation~~intent to resign or of the Company’s notice of removal the Trustee has not received a written designation of a successor Trustee, the ~~resigning Trustee may petition~~ Trustee’s sole responsibility shall be in its sole discretion either to retain custody of the Property without any obligation to invest or reinvest any such Property until it receives such designation, or to apply to a court of competent jurisdiction for ~~the~~ appointment of a successor ~~Trustee. If~~ Trustee and after such appointment to have no further duties or responsibilities in connection herewith. (d) The Company shall, at ~~any time the Trustee shall cease to be eligible in accordance with the provisions of Section 11.06 and shall fail to resign after written request therefor by the Company~~its own expense, ~~or if at any time the Trustee shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or a receiver~~ promptly notify each of the ~~Trustee or of its property shall be appointed, or any public officer shall take charge or control~~ Public Stockholders of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and ~~appointment~~ of the designation of a successor ~~Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08~~Trustee.

Appears in 1 contract

Samples: Investment Management Trust Agreement (China Mining Resources Holdings LTD)

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 Seller, the Servicer and ~~the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~each Rating Agency. Upon receiving such notice of resignation, the ~~Company~~ Seller shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee; provided, however, that any such successor Trustee shall be subject to the prior written approval of the Servicer. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 9.06 and shall fail to resign after written request ~~therefor~~ therefore by the ~~Company~~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 ~~Company~~ Seller may remove the Trustee. If the ~~Company shall have removed~~ Seller removes the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ Seller 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~9.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Compass Asset Acceptance Co)

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 Servicer and the ~~Company~~Originator. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Standard & Poor's and Fitch. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

Samples: 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 Master Servicer and ~~the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~each Rating Agency. Upon receiving such notice of resignation, the ~~Company~~ Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee; provided, however, that any such successor Trustee shall be subject to the prior written approval of the Master Servicer. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 9.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Depositor may remove the Trustee. If the ~~Company shall have removed~~ Depositor removes the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 9.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~9.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (HFC Revolving Corp)

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 ~~Servicer~~ Seller and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Seller shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 11.06 hereof and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Federal Mogul 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 ~~Servicer and the~~ Company~~. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall have~~ 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 the conditions in any of the following clauses (i), (ii) or (iii) shall occur at any ~~time~~ time, the Company may remove the Trustee: (i) the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.06 and shall fail to resign after written request therefor by the Company~~, or if at any time~~ ; (ii) 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~~ ; or (iii) the replacement of the Trustee with a successor Trustee 103 will enable the Company ~~may remove~~ to avoid (and should, based on the information included in the notice referred to below, result in the avoidance of) a downgrading of the ratings assigned to the Certificates by the Rating Agencies (whether or not other actions could avoid such downgrading) and no Event of Default, as provided by Section 7.01 hereof, shall have occurred or be continuing; provided, however, that no action shall be taken pursuant to this clause (iii) unless reasonable notice shall have been provided to the Trustee, which notice shall set forth the basis for any rating downgrade as contemplated by the Rating Agencies and shall also indicate the manner in which such proposed action is intended to avoid such downgrade. If ~~the Company shall have removed~~ it removes the Trustee under the authority of the immediately preceding sentence, the Company 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~~trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services 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 ~~the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~each Rating Agency. Upon receiving such notice of resignation, the ~~Company~~ Depositor shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee; PROVIDED, HOWEVER, that any such successor Trustee shall be subject to the prior written approval of the Master Servicer. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 9.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Depositor may remove the Trustee. If the ~~Company shall have removed~~ Depositor removes the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~9.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (HFC Revolving 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 Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Manager. Upon receiving such notice of resignation, ~~the Company~~ Manager shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 10.1 and shall fail to resign after written request therefor by ~~the Company~~Manager, 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 Company~~ Manager may remove ~~the~~ Trustee. If ~~the Company~~ Manager shall ~~have removed the~~ remove Trustee under the authority of the ~~immediately~~ preceding sentence, ~~the Company~~ Manager 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 and payment of all fees owed to the outgoing Trustee. Any resignation or removal of ~~the~~ Trustee and appointment of a successor Trustee pursuant to ~~any of the provisions of~~ this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor Trustee ~~as provided in~~ pursuant to Section ~~11.08~~10.3 and payment of all fees and expenses owed to the outgoing Trustee. Manager shall provide notice of such resignation or removal of Trustee to each of the Rating Agencies.

Appears in 1 contract

Samples: Trust Agreement (Provident Lease 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 ~~Servicer and the~~ Company~~. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall have~~ having accepted appointment within 30 days after the giving of such 137 notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the conditions in any of the following clauses (i), (ii) or (iii) shall occur at any ~~time~~ time, the Company may remove the Trustee: (i) the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.06 and shall fail to resign after written request therefor by the Company~~, or if at any time~~ ; (ii) 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~~ ; or (iii) the replacement of the Trustee with a successor Trustee will enable the Company ~~may remove~~ to avoid (and should, based on the information included in the notice referred to below, result in the avoidance of) a downgrading of the ratings assigned to the Certificates by the Rating Agencies (whether or not other actions could avoid such downgrading) and no Event of Default, as provided by Section 7.01 hereof, shall have occurred or be continuing; provided, however, that no action shall be taken pursuant to this clause (iii) unless reasonable notice shall have been provided to the Trustee, which notice shall set forth the basis for any rating downgrade as contemplated by the Rating Agencies and shall also indicate the manner in which such proposed action is intended to avoid such downgrade. If ~~the Company shall have removed~~ it removes the Trustee under the authority of the immediately preceding sentence, the Company 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~~trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services Inc)

Appears in 1 contract

Samples: 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 ~~Servicer and the~~ Company~~. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~shall have~~ 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 the conditions in any of the following clauses (i), (ii) or (iii) shall occur at any ~~time~~ time, the Company may remove the Trustee: (i) the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.06 and shall fail to resign after written request therefor by the Company~~, or if at any time~~ ; (ii) 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~~ ; or (iii) the replacement of the Trustee with a successor Trustee will enable the Company ~~may remove~~ to avoid (and should, based on the information included in the notice referred to below, result in 103 the avoidance of) a downgrading of the ratings assigned to the Certificates by the Rating Agencies (whether or not other actions could avoid such downgrading) and no Event of Default, as provided by Section 7.01 hereof, shall have occurred or be continuing; provided, however, that no action shall be taken pursuant to this clause (iii) unless reasonable notice shall have been provided to the Trustee, which notice shall set forth the basis for any rating downgrade as contemplated by the Rating Agencies and shall also indicate the manner in which such proposed action is intended to avoid such downgrade. If ~~the Company shall have removed~~ it removes the Trustee under the authority of the immediately preceding sentence, the Company 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~~trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ge Capital Mortgage Services 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 Servicer and the ~~Company~~Originator. A copy of any such notice shall be sent to ~~Xxxxx'x, Standard & Poor's and Fitch~~the Rating Agencies. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer, the Backup Servicer and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

Samples: 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 Servicer and the ~~Company~~Originator. A copy of any such notice shall be sent to ~~Xxxxx'x,~~ Standard & Poor's 's, Xxxxx'x and Fitch. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one 121 copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor Trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

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

Resignation or Removal of Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee under Section 8.11. (b) The Trustee may resign at any time ~~resign and be discharged from the trusts hereby created~~ by giving written notice thereof to the ~~Servicer and the~~ Company. ~~A copy~~ If an instrument of ~~any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch. Upon receiving such notice of resignation, the Company shall promptly appoint~~ acceptance by a successor Trustee ~~by written instrument, in duplicate, one copy of which instrument~~ shall be not have been delivered to ~~each of~~ the ~~Servicer and the Company and one copy to the successor Trustee. If no successor~~ Trustee ~~shall have been so appointed and 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. . (c) The Trustee may be removed at any time by the holders of a majority in principal amount of the outstanding Notes by written notice, delivered to the Trustee and to the Company. (d) If at any ~~time~~ time: (1) the Trustee shall fail to comply with Section 310(b) of the Trust Indenture Act with respect to the Notes after written request therefor by the Company or by any Noteholder who has been a bona fide holder of a Note or Notes for at least six months, or (2) the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.9 and shall fail to resign after written request therefor by the ~~Company~~Company or by any such Noteholder, ~~or if at any time~~ or (3) the Trustee shall ~~be legally unable to act~~become incapable of acting, 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~~ then, in any such case, the Company may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company shall promptly~~ and appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor ~~Trustee. Any resignation~~ trustee, or, subject to the provisions of Section 7.14, any Noteholder who has been a bona fide holder of a Note or Notes for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the trustee and appoint a successor trustee. (e) If the Trustee ~~pursuant to any~~ shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of the ~~provisions~~ Trustee for any cause, the Company shall promptly appoint a successor trustee. If, within one year after such resignation, removal or incapacity, or the occurrence of ~~this Section 11.07~~ such vacancy, a successor trustee shall ~~not become effective until~~ be appointed by the holders of a majority in principal amount of the Notes outstanding by written notice delivered to the Company and the retiring trustee, the successor trustee so appointed shall, forthwith upon its acceptance of ~~appointment~~ such appointment, become the successor trustee and supersede the successor trustee appointed by the Company. If no successor trustee shall have been so appointed by the Company or the Noteholders and accepted appointment in the manner hereinafter provided, subject to Section 7.14, any Noteholder who has been a bona fide holder of a Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor trustee. (f) The Company shall give notice of each resignation and each removal of the Trustee and each appointment of a successor trustee by mailing written notice of such event by first-class mail, postage prepaid, to the Noteholders as ~~provided~~ their names and addresses appear in ~~Section 11.08~~the Note Register. Each notice shall include the name of the successor trustee and the address of its principal Corporate Trust Office.

Appears in 1 contract

Samples: Indenture (Genesis Health Ventures Inc /Pa)

Resignation or Removal of Trustee. ~~The~~ (a) 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 ~~Servicer~~ Company, the Servicer, each Agent and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Rating Agencies. Upon receiving such notice of resignation, the Company shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee, and the expenses for such petition shall be paid pursuant to Section 8.5. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 8.6 hereof and shall fail to resign after written request therefor by the ~~Company~~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 Company may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ 8.7 shall not become effective until acceptance of appointment by the successor trustee as provided in Section 8.8. (d) The obligations of the Company described in Sections 6.3 and 8.5 hereof and the obligations of the Servicer described in Section 8.5 hereof and Section 5.1 of the Servicing Agreement shall survive the removal or resignation of the Trustee as provided in ~~Section 11.08~~this Agreement. (e) 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 (Wesco Distribution 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 ~~Servicer~~ Seller and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Seller shall promptly appoint a successor ~~Trustee~~ trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor ~~Trustee~~trustee. If no successor ~~Trustee~~ trustee shall have been so appointed and ~~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.~~ trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section ~~11.06~~ 11.6 hereof and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Servicer may remove the ~~Trustee. If the Company shall have removed the~~ Trustee ~~under the authority of the immediately preceding sentence, the Company 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.~~ trustee. (c) Any resignation or removal of the Trustee and appointment of a successor ~~Trustee~~ trustee pursuant to any of the provisions of this Section ~~11.07~~ shall not become effective until acceptance of appointment by the successor ~~Trustee~~ trustee as provided in Section ~~11.08~~11.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)

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 ~~Servicer and the Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Servicer. Upon receiving such notice of resignation, the ~~Company~~ Servicer shall promptly appoint a successor Trustee acceptable to the Insurer by written instrument, in duplicate, one copy of which instrument shall be delivered to ~~each of~~ the ~~Servicer and the Company~~ resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and ~~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 ~~11.06~~ 9.9 and shall fail to resign after written request therefor by the ~~Company~~Servicer with the written consent of the 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 ~~Company may~~ Servicer may, with the written consent of the Insurer, remove the Trustee. If ~~the Company~~ it shall ~~have removed~~ remove the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Onyx Acceptance 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 Servicer and the Company. A copy of any such notice shall be sent to ~~Xxxxx'x~~Moody's, Standard & Poor's and Fitch. Upon receiving such notice of resignation, the Company shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the Servicer and the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 11.06 and shall fail to resign after written request therefor by the 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 Company may remove the Trustee. If the Company shall have removed the Trustee under the authority of the immediately preceding sentence, the 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. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 11.07 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section 11.08.

Appears in 1 contract

Samples: 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 Servicer and the ~~Company. A copy of any such notice shall be sent to Xxxxx'x, Standard & Poor's and Fitch~~Originator. Upon receiving such notice of resignation, the ~~Company~~ Originator shall promptly appoint a successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the ~~Servicer~~ Servicer, the Backup Servicer, and the ~~Company~~ Originator and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and 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 ~~11.06~~ 11.07 and shall fail to resign after written request therefor by the ~~Company~~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 ~~Company~~ Originator may remove the Trustee. If the ~~Company~~ Originator shall have removed the Trustee under the authority of the immediately preceding sentence, the ~~Company~~ 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~~trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section ~~11.07~~ 11.08 shall not become effective until acceptance of appointment by the successor Trustee as provided in Section ~~11.08~~11.09.

Appears in 1 contract

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

Common use of Resignation or Removal of Trustee Clause in Contracts