Resignation or Removal of Trustee. The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. (a) In case at any time any of the following shall occur: (i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or (iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act. (b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee. (c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12. (d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (IMH Financial Corp), Indenture (IMH Financial Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing, at the expense of the Company, notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 6.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 7.04, may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 6.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Forest City Enterprises Inc), Indenture (Forest City Enterprises Inc)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company Issuer and to the holders Holders of Notes. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) calendar days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company Issuer and the Noteholders, appoint a successor identified in such notice or may petition, at the expense of the CompanyIssuer, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.09, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 7.08 after written request therefor by the Company Issuer or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 and shall fail to resign after written request therefor by the Company Issuer or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company Issuer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) calendar days after either the Company Issuer or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the CompanyIssuer, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the CompanyIssuer’s obligations under Section 8.07 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (BioMed Realty Trust Inc), Indenture (BioMed Realty Trust Inc)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company; and the Company and shall mail, or cause to be mailed, notice thereof to the holders of NotesNotes at their addresses as they shall appear on the registry books of the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) 60 days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, trustee or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Softkey International Inc), Securities Purchase Agreement (Tribune Co)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Actmonths; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(de) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 8.06 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (On Semiconductor Corp), Indenture (On Semiconductor Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may may, at the expense of the Company, petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Electroglas Inc), Indenture (Electroglas Inc)
Resignation or Removal of Trustee. (a) The Trustee may may, at any time time, resign by giving written notice of such resignation to the Company and by delivering notice thereof to the holders of NotesHolders, and by providing such notification, the Trustee shall be discharged from the trust created hereby. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing giving of such notice of resignation to the NoteholdersCompany, the resigning Trustee may, at the expense of the Company, upon ten (10) Business Days’ notice to the Company and the NoteholdersHolders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six months (6or since the date of this Indenture) months may, subject to the provisions of Section 7.096.11, on behalf of himself or herself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee, and the Company shall bear the expense associated with such appointment.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iiiii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such either case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.11, any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six months (6or since the date of this Indenture) months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 8.04, may at any time remove the Trustee and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyHolder, upon the terms and conditions and otherwise as in Section 8.11 7.09(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.09 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.10.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Tabula Rasa HealthCare, Inc.), Indenture (Benefitfocus,Inc.)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Xerox Corp), Indenture (Equitable of Iowa Companies)
Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trust created hereby by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesHolders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 days after the mailing of such notice of resignation to the NoteholdersHolders, the resigning Trustee may, at the expense of the Company, upon ten (10) Business Days’ notice to the Company and the NoteholdersHolders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09Section 6.11, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(a) In case at any time any of the following shall occur:
(i) A. the Trustee shall fail to comply with Section 8.09 Section 7.13 within a reasonable time after written request therefor by the Company or by any Noteholder Holder who satisfies the requirements has been a bona fide Holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; ormonths;
(ii) B. the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 Section 7.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iii) C. the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09Section 6.11, any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee by notifying the Trustee in writing at least 30 days prior to such removal and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case . If no successor trustee shall have been so appointed and have accepted appointment within 30 days after removal of the Trustee so removed or any Noteholderby the Holders, or if such the Trustee so removed or any Noteholder fails to actmay, at the expense of the Company, upon ten Business Days’ notice to the terms Company and conditions and otherwise as in Section 8.11 providedthe Holders, may petition any court of competent jurisdiction for an the appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 Section 7.09 shall become effective upon (i) payment of all fees and expenses owing to the Trustee and (ii) acceptance of appointment by the successor trustee as provided in Section 8.12Section 7.10.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Norwegian Cruise Line Holdings Ltd.), Indenture (Norwegian Cruise Line Holdings Ltd.)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:occur --
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Hubco Inc), Indenture (United National Bancorp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, may petition any court of competent jurisdiction at the expense of the Company, any court of competent jurisdiction Company for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The If an instrument of acceptance by a successor Trustee shall comply with Section 310(bnot have been delivered to the Trustee within sixty (60) days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Trust Indenture ActCompany, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Ibasis Inc), Indenture (Ibasis Inc)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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; , or
(4) there shall be an unreasonable increase in the fees of the Trustee, or
(5) a successor in interest to the entity serving as Trustee, by reason of merger or consolidation, shall be reasonably unacceptable to the Company or to the holders of at least 51% in principal amount of the outstanding Notes, then, in any such case, the Company may by a Board resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Financial Federal Corp), Indenture (Financial Federal Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty thirty (6030) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself himself, herself or itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8(a) after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself himself, herself or itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (International Shipholding Corp), Indenture (International Shipholding Corp)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:occur --
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; or
a Security or Securities for at least six months, or (ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeSecurityholder, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Firstar Capital Trust I), Indenture (Firstar Corp /Wi/)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (Sepracor Inc /De/), Indenture (Alkermes Inc)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Company’s Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) 60 calendar days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 7.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Company’s Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) 60 calendar days after either the Company or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount Principal Amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) calendar days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 7.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (O Reilly Automotive Inc), Indenture (CSK Auto Corp)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.8 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.9, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Resignation or Removal of Trustee. Subject to compliance with applicable Gaming Laws:
(a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.11, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.11, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 9.04, may at any time remove the Trustee and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 2 contracts
Samples: Indenture (MGM Resorts International), Indenture (MGM Mirage)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Puget Sound Energy Inc)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any successor trustee hereafter appointed, may at any time resign by giving written notice of such resignation to the Company Corporation and by mailing notice thereof to the holders Holders of Notesthe Senior Notes at their addresses as they shall appear on the Senior Note Register. Upon receiving such notice of resignation, the Company Corporation shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the its Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 days after the mailing of such notice of resignation to the NoteholdersHolders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, may petition, at the expense of the CompanyCorporation, any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Senior Note or Notes for at least six (6) months may, subject to the provisions of Section 7.095.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case If at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 8.09 6.8 after written request therefor by the Company Corporation or by any Noteholder Holder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Acta Senior Note for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.9 and shall fail to resign after written request therefor by the Company Corporation or by any such NoteholderHolder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company Corporation may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.9, any Noteholder Holder who has been a bona fide holder of a Senior Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders Holders of a majority in aggregate principal amount of the Senior Notes at the time then outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to such nomination the Company of such nomination, the Company Corporation objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyHolder, upon the terms and conditions and otherwise as provided in Section 8.11 provided6.10(a), may petition petition, at the expense of the Corporation, any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Joy Global Inc)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series by giving written notice of such resignation to the Company and to the holders of NotesCompany. Upon receiving such notice of resignation, resignation the Company shall promptly appoint a successor trustee with respect to the applicable series by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 days after the mailing of such notice of resignation to the Noteholdersresignation, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of subsection (a) of Section 8.09 7.08 with respect to any series of Securities after written request therefor by the Company or by any Noteholder securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) a Security or Securities of the Trust Indenture Act; such series for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 with respect to any series of Securities and shall fail to resign after written request therefor by the Company or by any such Noteholder; securityholder, or
(iii3) the Trustee shall become incapable of actingacting with respect to any series of Securities, or shall be adjudged as 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, in any such case, the Company may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee with respect to such series by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.14, any Noteholder securityholder of such series who has been a bona fide holder of a Note Security or Notes Securities of the applicable series for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an appointment of a successor trusteewith respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities of all series (voting as one class) at the time outstanding Outstanding may at any time remove the Trustee with respect to Securities of all series and nominate appoint a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice with respect to the Company Securities of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trusteeall series.
(cd) Any resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon the appointment of a successor trustee and the acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company Corporation and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company Corporation shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:occur --
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company Corporation or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder 47 56 of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company Corporation or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company Corporation may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to such nomination the Company of Corporation objects thereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such nomination, the Company objects theretoremoval, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in sub- section (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.become
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:,
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.8 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.9, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Imperial Capital Trust I)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by transmitting, at the expense of the Company, notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing transmitting of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.095.10, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 6.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.10, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 7.04, may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 6.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesDebentures at their addresses as they shall appear on the Debenture register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the NoteholdersDebentureholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Debentureholder who has been a bona fide holder of a Note Debenture or Notes Debentures for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 after written request therefor by the Company or by any Noteholder Debentureholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Debenture or Debentures for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Debentureholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder Debentureholder who has been a bona fide holder of a Note Debenture or Notes Debentures for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Debentures at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyDebentureholder, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and the Company shall mail, or cause to be mailed, notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.8.11
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company Issuer and to the holders Holders of Notes. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty thirty (6030) calendar days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company Issuer and the Noteholders, appoint a successor identified in such notice or may petition, at the expense of the CompanyIssuer, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.09 hereof, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 7.08 hereof after written request therefor by the Company Issuer or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 hereof and shall fail to resign after written request therefor by the Company Issuer or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company Issuer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.09 hereof, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided provided, that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty thirty (6030) calendar days after either the Company Issuer or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the CompanyIssuer, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11 hereof.
(d) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.10, the CompanyIssuer’s obligations under Section 8.07 7.06 hereof shall continue for the benefit of the retiring Trustee.
(e) The Trustee shall not be liable for any action or inaction on the part of any successor trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may resign at any time resign by giving written notice of such resignation to the Company and by mailing notice of such resignation to the holders of Notes. Upon receiving such notice Notes at their addresses as they shall appear on the Note Register.
(b) In case at any time any of resignation, the following shall occur:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act after written request therefor by the Company shall promptly appoint a successor trustee or by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months maymonths, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(a) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 5.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, appointed or any a 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of Company Order authorized by the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee (with written notice of such removal mailed to the holders of Notes at their address as they shall appear on the Note Register), or, subject to the provisions of Section 7.094.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months maymonths, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trusteeTrustee.
(c) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company promptly shall appoint a successor Trustee by a Company Order authorized by the Board of Directors, one copy of which instrument shall be delivered to the retiring Trustee and one copy to the successor Trustee. If, within one year after such resignation, removal or incapability or the occurrence of such vacancy; provided that if a successor Trustee shall be appointed by the holders of a majority in principal amount of the Notes (voting as a single class) at the time outstanding by instrument or instruments delivered to the Company and the retiring Trustee, the successor Trustee so appointed, forthwith upon its acceptance of such appointment, shall become the successor Trustee and supersede the successor Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed and have accepted appointment sixty (60) days after either by the Company or the Noteholders has removed and accepted appointment in the Trusteemanner provided in Section 5.10 within 60 days after notice of the resignation or removal of the Trustee is mailed to the Noteholders, the resigning Trustee so removed may petition, at the expense of the Company, petition any court of competent jurisdiction for an the appointment of a successor trustee. Such Trustee, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six months, subject to the provisions of Section 4.09, on behalf of himself and all others similarly situated, may petition any court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove of competent jurisdiction for the Trustee and appoint appointment of a successor trustee. The Trustee shall comply with Section 310(b) of the Trust Indenture ActTrustee.
(bd) The holders of a majority in aggregate principal amount of the Notes (voting as a single class) at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unlesstime, within ten (10) days after upon notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 providedTrustee, may petition any court of competent jurisdiction for an appointment of a successor trusteeremove the Trustee.
(ce) Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.11 5.09 shall become effective upon acceptance of appointment by the successor trustee Trustee as provided in Section 8.12.
(d) Notwithstanding the replacement 5.10. Any resignation of the Trustee pursuant to this Section, shall become effective only upon the Company’s obligations under appointment of a successor Trustee and upon the acceptance of appointment by the successor Trustee as provided in Section 8.07 shall continue for the benefit of the retiring Trustee5.10.
Appears in 1 contract
Samples: Indenture (Synovus Financial Corp)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:occur --
(i) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; ora Security or Securities for at least six months;
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such NoteholderSecurityholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto; provided, in which case however, that if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their ad dresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:occur --
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Allmerica Financial Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by giving notice thereof to the holders of NotesHolders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing giving of such notice of resignation to the NoteholdersCompany, the resigning Trustee may, appoint a successor trustee on behalf of and at the expense of the Company, or may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, Holders and at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six months (6or since the date of this Indenture) months may, subject to the provisions of Section 7.096.11, on behalf of himself or herself and all others similarly situated, and at the expense of the Company, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iiiii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such either case, the Company Company, upon 30 days prior written notice to the Trustee, may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.11, any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six months (6or since the date of this Indenture) months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The If the Trustee shall comply with is removed, but no successor trustee has been appointed and accepted such appointment, the removed Trustee may, upon the terms and conditions and otherwise as in Section 310(b7.09(a) provided, petition, at the expense of the Trust Indenture ActCompany, any court of competent jurisdiction for an appointment of a successor trustee.
(bc) The holders Holders of a majority in aggregate principal amount of the Notes Notes, upon 30 days prior written notice to the Trustee, at the time outstanding outstanding, as determined in accordance with Section 8.04, may at any time time, upon 30 days prior written notice to the Trustee, remove the Trustee and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyHolder, upon the terms and conditions and otherwise as in Section 8.11 7.09(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.09 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.10.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Xerox Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing sending of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 7.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Actmonths; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders such Noteholder has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or or, if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 7.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(de) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Headwaters Inc)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series by giving written notice of such resignation to the Company and to the holders of NotesCompany. Upon receiving such notice of resignation, resignation the Company shall promptly appoint a successor trustee with respect to the applicable series by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 days after the mailing of such notice of resignation to the Noteholdersresignation, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of subsection (a) of Section 8.09 7.08 with respect to any series of Securities after written request therefor by the Company or by any Noteholder securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) a Security or Securities of the Trust Indenture Act; such series for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 with respect to any series of Securities and shall fail to resign after written request therefor by the Company or by any such Noteholder; securityholder, or
(iii3) the Trustee shall become incapable of actingacting with respect to any series of Securities, or shall be adjudged as 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, in any such case, the Company may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee with respect to such series by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.14, any Noteholder securityholder of such series who has been a bona fide holder of a Note Security or Notes Securities of the applicable series for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an appointment of a successor trusteewith respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities of all series (voting as one class) at the time outstanding Outstanding may at any time upon 30 day’s written notice remove the Trustee with respect to Securities of all series and nominate appoint a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice with respect to the Company Securities of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trusteeall series.
(cd) Any resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon the appointment of a successor trustee and the acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Chemours Co)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Debentures at their addresses as they shall appear on the Debenture Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees, in accordance with the provisions of Section 6.09, by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Holders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes Debenture for at least six (6) months may, subject to the provisions of Section 7.095.10, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the The Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Holder entitled to give such request who satisfies the requirements has been a bona fide holder of Section 310(b) a Debenture or Debentures of the Trust Indenture Act; applicable series for at least six months, or
(ii2) the The Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iii3) the The Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee trustee, in accordance with the provisions of Section 6.09, by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.10, any Noteholder Holder who has been a bona fide holder of a Note or Notes Debenture of the applicable series for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Debentures of any series at the time outstanding may at any time remove the Trustee with respect to that series and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company written notification of such nomination, nomination the Company objects thereto, or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyHolder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may resign at any time resign by giving written notice of such resignation to the Company and by mailing notice of such resignation to the holders of Notes. Upon receiving such notice Notes at their addresses as they shall appear on the Note Register.
(b) In case at any time any of resignation, the following shall occur:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act after written request therefor by the Company shall promptly appoint a successor trustee or by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months maymonths, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(a) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 5.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, appointed or any a 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of Company Order authorized by the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee (with written notice of such removal mailed to the holders of Notes at their address as they shall appear on the Note Register), or, subject to the provisions of Section 7.094.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months maymonths, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that Trustee.
(c) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company promptly shall appoint a successor Trustee by a Company Order authorized by the Board of Directors, one copy of which instrument shall be delivered to the retiring Trustee and one copy to the successor Trustee. If, within one year after such resignation, removal or incapability or the occurrence of such vacancy, a successor Trustee shall be appointed by the holders of a majority in principal amount of the Notes (voting as a single class) at the time outstanding by instrument or instruments delivered to the Company and the retiring Trustee, the successor Trustee so appointed, forthwith upon its acceptance of such appointment, shall become the successor Trustee and supersede the successor Trustee appointed by the Company. If no successor trustee Trustee shall have been so appointed and have accepted appointment sixty (60) days after either by the Company or the Noteholders has removed and accepted appointment in the Trusteemanner provided in Section 5.10 within 60 days after notice of the resignation or removal of the Trustee is mailed to the Noteholders, the resigning Trustee so removed may petition, at the expense of the Company, petition any court of competent jurisdiction for an the appointment of a successor trustee. Such Trustee, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six months, subject to the provisions of Section 4.09, on behalf of himself and all others similarly situated, may petition any court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove of competent jurisdiction for the Trustee and appoint appointment of a successor trustee. The Trustee shall comply with Section 310(b) of the Trust Indenture ActTrustee.
(bd) The holders of a majority in aggregate principal amount of the Notes (voting as a single class) at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unlesstime, within ten (10) days after upon notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 providedTrustee, may petition any court of competent jurisdiction for an appointment of a successor trusteeremove the Trustee.
(ce) Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.11 5.09 shall become effective upon acceptance of appointment by the successor trustee Trustee as provided in Section 8.12.
(d) Notwithstanding the replacement 5.10. Any resignation of the Trustee pursuant to this Section, shall become effective only upon the Company’s obligations under appointment of a successor Trustee and upon the acceptance of appointment by the successor Trustee as provided in Section 8.07 shall continue for the benefit of the retiring Trustee5.10.
Appears in 1 contract
Samples: Indenture (Synovus Financial Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, may at the expense of the Company, Company petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.successor
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.095.11, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 6.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.11, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 7.04, may at any time remove the Trustee and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 6.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Kaman Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders Holders at their addresses as they shall appear on the Note Register (or, in the case of Global Notes, by delivering such notice in accordance with the applicable procedures of the Depositary). Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 days after the mailing (or, in the case of Global Notice, after the delivery) of such notice of resignation to the NoteholdersHolders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the NoteholdersHolders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.11, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iiiii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such either case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.11, any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 8.04, may at any time remove the Trustee and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyHolder, upon the terms and conditions and otherwise as in Section 8.11 7.09(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trusteetrustee at the expense of the Company.
(cd) The Trustee may be removed at any time with respect to the Notes by the Company, by an Officers’ Certificate delivered to the Trustee, provided that contemporaneously therewith (x) the Company immediately appoints a successor Trustee with respect to the Notes meeting the requirements of Section 7.08 hereof and (y) the terms of Section 7.10 hereof are complied with in respect of such Trustee (the Trustee being removed hereby agreeing to execute the instrument contemplated by Section 7.10 hereof, if applicable, under such circumstances) and provided further that no Default or Event of Default with respect to the Notes shall have occurred and then be continuing at such time.
(e) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.09 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.10.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Goldman Sachs BDC, Inc.)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:occur --
(i) the Trustee shall fail to comply with the provisions of Section 8.09 6.8 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeSecurityholder, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Bancfirst Corp /Ok/)
Resignation or Removal of Trustee. (a) The Trustee may resign at any time resign by giving written notice of such resignation to the Company and by mailing notice of such resignation to the holders of Notes. Upon receiving such notice Notes at their addresses as they shall appear on the Note Register.
(b) In case at any time any of resignation, the following shall occur:
(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act after written request therefor by the Company shall promptly appoint a successor trustee or by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months maymonths, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(a) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 5.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, appointed or any a 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of Company Order authorized by the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee (with written notice of such removal mailed to the holders of Notes at their address as they shall appear on the Note Register), or, subject to the provisions of Section 7.094.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months maymonths, on behalf of himself and all others similarly situated, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that Trustee.
(c) If the Trustee shall resign, be removed or become incapable of acting, or if no successor trustee a vacancy shall have been appointed and have accepted appointment sixty (60) days after either occur in the office of Trustee for any cause, the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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 promptly shall appoint a successor trusteeTrustee by a Company Order authorized by the Board of Directors, one copy of which instrument shall be delivered to the retiring Trustee and one copy to the successor Trustee. The If, within one year after such resignation, removal or incapability or the occurrence of such vacancy; a successor Trustee shall comply with Section 310(b) of be appointed by the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes (voting as a single class) at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed by instrument or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.instruments
Appears in 1 contract
Samples: Indenture (Synovus Financial Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving 60 days written notice of such resignation to the Company and by sending notice thereof to the holders of NotesHolders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing sending of such notice of resignation to the NoteholdersHolders, the resigning Trustee may appoint a successor trustee on behalf of and at the expense of the Company or it may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petitionHolders, at the expense of the Company, Company petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.11 (Undertaking to Pay Costs), on behalf of himself or herself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.08 (Eligibility of Trustee) and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iiiii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such either case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.11 (Undertaking to Pay Costs), any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined subject to Section 8.04 (Company-Owned Notes Disregarded), may at any time remove the Trustee and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyHolder, upon the terms and conditions and otherwise as in Section 8.11 7.09(a) (Resignation or Removal of Trustee) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.09 (Resignation or Removal of Trustee) shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.10 (Acceptance by Successor Trustee).
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (GDS Holdings LTD)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to any one or more or all series of Debt Securities by giving written notice of such resignation to the Company and by mailing notice thereof to the holders Holders of Notesthe applicable series of Debt Securities at their addresses as they shall appear on the registry books of the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.trustees with 21
(ab) In case at any time any of the following shall occur:
: (i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii1) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.07 with respect to any series of Debt Securities and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
Holder, or (iii2) the Trustee shall become incapable of actingacting with respect to any series of Debt Securities, or shall be adjudged as 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, in any such case, the Company may remove the Trustee with respect to such series and appoint a successor trustee with respect to such series by written instrument, in duplicate, executed by order under authority of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions requirements of Section 7.09315(e) of the Trust Indenture Act of 1939, any Noteholder Holder who has been a bona fide holder Holder of a Note or Notes Debt Security of such series for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an appointment of a successor trusteewith respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. The Trustee shall comply trustee with Section 310(b) of the Trust Indenture Actrespect to such series.
(bc) The holders Holders of a majority 66 2/3% in aggregate principal amount of the Notes Debt Securities of one or more series (each series voting as a class) or all series at the time outstanding Outstanding may at any time remove the Trustee with respect to the applicable series or all series, as the case may be, and nominate appoint with respect to the applicable series or all series, as the case may be, a successor trustee by written notice of such action to the Company, the Trustee and the successor trustee which shall be deemed appointed as successor trustee unlesswith respect to the applicable series of Debt Securities or all series, as the case may be, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if Holder of a Debt Security of the applicable series (in the case of any such Trustee so removed objection to a nomination of a successor trustee with respect to such series) or any Noteholder fails Holder (in the case of any such objection to act, the Companya nomination of a successor trustee with respect to all series), upon the terms terms, and conditions and otherwise as in subsection (a) of this Section 8.11 7.08 provided, may petition any court of competent jurisdiction for an the appointment of a successor trusteetrustee with respect to such series of Debt Securities or all series, as the case may be.
(cd) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 8.11 7.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.09.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (McDonalds Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 6.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 7.04, may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 6.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged with respect to the Notes of one or more Series by giving 90 days' written notice thereof to the Administrator, the Servicer, the Company, the Noteholders of such resignation to Series and the Company and to the holders of NotesRating Agencies. Upon receiving such notice of resignation, the Company Administrator shall promptly appoint a successor trustee Trustee not objected to by Noteholders of such Series with a Percentage of more than 50% within 30 days after prior written notice, by written instrument, in duplicate, executed by order of the Board of Directorsquintuplicate, one copy counterpart of which instrument shall be delivered to each of the resigning Company, the Servicer, the successor Trustee and one the predecessor Trustee. A copy of such instrument shall be delivered to the successor trusteeRating Agencies. If no successor trustee Trustee shall have been so appointed and have accepted appointment sixty (60) within 90 days after the mailing giving of such notice of resignation to the Noteholdersresignation, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(ab) In case If at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.07 and shall fail to resign after written request therefor by the Company Administrator, or by if at any such Noteholder; or
(iii) time the Trustee shall become incapable of actingbe legally unable to act, or shall be adjudged as 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, in any then the Administrator or Noteholders of each Series with a Percentage greater than 50% may direct, and the Administrator shall follow such casedirection and remove the Trustee. If it removes the Trustee under the authority of the immediately preceding sentence, the Company may remove the Trustee and Administrator shall promptly appoint a successor trustee Trustee not objected to by Noteholders of each Series with a Percentage of more than 50%, within 30 days after prior written notice, by written instrument, in duplicate, executed by order of the Board of Directorsquintuplicate, one copy counterpart of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense each of the Company, the Servicer, the Noteholders, the successor Trustee and the predecessor Trustee. Copies of such instrument shall also be delivered by the Administrator to each of the Rating Agencies.
(c) The Trustee may be removed by the Administrator at any court of competent jurisdiction for an appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove time by giving written notice thereof to the Trustee and appoint a successor trustee. The Trustee shall comply with Section 310(b) each of the Trust Indenture Act.
(b) The holders of a majority in aggregate the Notes then outstanding. Such removal by the Administrator will become effective unless the holders of 51% of the principal amount of the Notes at the time of each Series then outstanding may at any time remove the Trustee and nominate deliver a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice written statement to the Company Administrator opposing such removal within 30 days following receipt of such nomination, notice of removal from the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.Administrator. 57
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.11 7.08 shall not become effective upon until acceptance of appointment by the successor trustee Trustee as provided in Section 8.127.09.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving 30 days written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesHolders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 days after the mailing of such notice of resignation to the NoteholdersHolders, the resigning Trustee may, (i) at the expense of the Company, appoint a successor trustee; and/or (ii) at the expense of the Company, upon ten (10) Business Days’ notice to the Company and the NoteholdersHolders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six months (6or since the date of this Indenture) months may, subject to the provisions of Section 7.096.11, on behalf of himself or herself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iiiii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such either case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.11, any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six months (6or since the date of this Indenture) months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 8.04, may at any time remove the Trustee and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed (at the expense of the Company) or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyHolder, upon the terms and conditions and otherwise as in Section 8.11 7.09(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.09 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.10.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (BEST Inc.)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition petition, any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding 6.11. If no successor trustee shall have been so appointed and have accepted appointment within 60 days after the replacement of date the Trustee pursuant to this Sectionreceives notice of its removal, the Company’s obligations under Section 8.07 shall continue removed Trustee may petition any court of competent jurisdiction for the benefit appointment of a successor trustee, or any Securityholder who has been a bona fide holder of a Security for at least six months may, subject to the retiring Trusteeprovisions of Section 5.09, on behalf of himself and all others similarly situated, petition, any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
Appears in 1 contract
Samples: Indenture (Agl Capital Trust Iii)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurity- holder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company Issuer and to the holders Holders of Notes. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) calendar days after the mailing delivery of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company Issuer and the Noteholders, appoint a successor identified in such notice or may petition, at the expense of the CompanyIssuer, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder . A majority of Noteholders who has have been a bona fide holder holders of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, may also petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 7.08 after written request therefor by the Company Issuer or by any Noteholder majority of Noteholders who satisfies the requirements has have been a bona fide holders of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 and shall fail to resign after written request therefor by the Company Issuer or by any such Noteholdermajority of Noteholders; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company Issuer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) calendar days after either the Company Issuer or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the CompanyIssuer, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the CompanyIssuer’s obligations under Section 8.07 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Extra Space Storage Inc.)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) calendar days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) calendar days after either the Company or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount Principal Amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) calendar days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Ryerson Tull Inc /De/)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor 47 trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the NoteholdersHolders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 after written request therefor by the Company or by any Noteholder Holder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyHolder, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (HNC Software Inc/De)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 6.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Actmonths; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 7.04, may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as provided in Section 8.11 provided6.10(a), may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 9.04, may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing, at the expense of the Company, notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.095.10, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 6.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.10, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 7.04, may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 6.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing, at the expense of the Company, notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.095.10, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 6.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.10, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 7.04, may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 6.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ ' notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Actmonths; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders such Noteholder has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or or, if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(de) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s 's obligations under Section 8.07 8.06 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Headwaters Inc)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written writ ten notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of him self and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(b) In case at any time any of the following shall occur:
(1) the Trustee shall fail to comply with the provisions of Section 6.08 after written request therefor by the Company or by any Securityholder who has been a bona fide holder of a Security or Securities for at least six months, or
(2) the Trustee shall cease to be eligible in accordance with the provisions of Section 6.09 and shall fail to resign after written request therefor by the Company or by any such Securityholder, or
(3) the Trustee shall 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, in any such case, the Company may 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, or, subject to the provisions of Section 5.09, any Securityholder who has been a bona fide holder of a Security 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.
(c) The holders of a majority in aggregate principal amount of the Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee, which shall be deemed appointed as successor trustee unless within 10 days after such nomination the Company objects thereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Securityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 6.10 provided, may petition any court of competent jurisdiction for an appointment of a 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 6.10 shall be come effective upon acceptance of appointment by the successor trustee as provided in Section 6.11. If no successor trustee shall have been so appointed and have accepted appointment within 60 days after the date the Trustee receives notice of its removal, the removed Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide holder of a Security for at least six months may, subject to the provisions of Section 5.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(a) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Agl Resources Inc)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly promptly, but in no event later than 60 days after such resignation or removal, appoint a successor trustee Trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trusteeTrustee. If no successor trustee Trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholdersretiring Trustee resigns or is removed, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or, or any Noteholder who has been a bona fide holder Holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.10, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(ab) In (x) At any time at which no Default or Event of Default has occurred and is continuing or (y) in case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 6.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide Holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such casecase of (x) or (y), the Company may by a Board Resolution remove the Trustee and appoint a successor trustee Trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or, subject to the provisions of this Section 7.096.10, any Noteholder who has been a bona fide holder Holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture ActTrustee.
(bc) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 7.04, may at any time remove the Trustee and nominate a successor trustee Trustee which shall be deemed appointed as successor trustee unless, Trustee unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 6.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trusteeTrustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee Trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and 41 by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Xerox Capital Trust I)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) 120 days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ ' notice to the Company and the Noteholders, appoint a successor identified in such notice or may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Actmonths; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(de) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s 's obligations under Section 8.07 8.06 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Compudyne Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and the Company shall mail notice thereof to the holders Holders of NotesNotes at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee Trustee by written instrument, in duplicate, executed evidenced by order of the a Board of DirectorsResolution, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trusteeTrustee. If no successor trustee Trustee shall have been so appointed and have accepted appointment sixty thirty (6030) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or, or any Noteholder who has been a bona fide holder Holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide Holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee Trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder Holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture ActTrustee.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee Trustee which shall be deemed appointed as successor trustee unless, Trustee unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may may, at the expense of the Company, petition any court of competent jurisdiction for an appointment of a successor trusteeTrustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee Trustee as provided in Section 8.128.11.
(de) Notwithstanding If an instrument of acceptance by a successor Trustee shall not have been delivered to the replacement Trustee within thirty (30) days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Trustee pursuant to this SectionCompany, the Company’s obligations under Section 8.07 shall continue any court of competent jurisdiction for the benefit appointment of a successor Trustee with respect to the retiring TrusteeNotes of such series.
Appears in 1 contract
Samples: Indenture (RCN Corp /De/)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by sending notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing sending of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may may, at the 44 expense of the Company, petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(de) Notwithstanding If an instrument of acceptance by a successor Trustee shall not have been delivered to the replacement Trustee within thirty (30) days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Trustee pursuant to this SectionCompany, the Company’s obligations under Section 8.07 shall continue any court of competent jurisdiction for the benefit appointment of the retiring Trusteea successor trustee.
Appears in 1 contract
Samples: Indenture (Ats Medical Inc)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and the Company shall mail notice thereof to the holders Holders of NotesNotes at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee Trustee by written 91 instrument, in duplicate, executed evidenced by order of the a Board of DirectorsResolution, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trusteeTrustee. If no successor trustee Trustee shall have been so appointed and have accepted appointment sixty thirty (6030) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or, or any Noteholder who has been a bona fide holder Holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide Holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee Trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder Holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture ActTrustee.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee Trustee which shall be deemed appointed as successor trustee unless, Trustee unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may may, at the expense of the Company, petition any court of competent jurisdiction for an appointment of a successor trusteeTrustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee Trustee as provided in Section 8.128.11.
(de) Notwithstanding If an instrument of acceptance by a successor Trustee shall not have been delivered to the replacement Trustee within thirty (30) days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Trustee pursuant to this SectionCompany, the Company’s obligations under Section 8.07 shall continue any court of competent jurisdiction for the benefit appointment of a successor Trustee with respect to the retiring TrusteeNotes of such series.
Appears in 1 contract
Samples: Indenture (RCN Corp /De/)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) 60 days after the mailing of such notice of resignation to the Noteholdersholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholdersholders, appoint a successor identified in such notice or may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.10, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 7.08 after written request therefor by the Company or by any Noteholder holder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 and shall fail to resign after written request therefor by the Company or by any such Noteholderholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.10, any Noteholder holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) 60 days after either the Company or the Noteholders holders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the outstanding Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholderholder, or if such Trustee so removed or any Noteholder holder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 7.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(de) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Macerich Co)
Resignation or Removal of Trustee. The Trustee may at any time resign by giving prior written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesHolders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 calendar days after the mailing of such notice of resignation to the NoteholdersHolders, the resigning Trustee maymay (at the Company’s expense), upon ten (10) Business Days’ notice to the Company and the NoteholdersHolders, petitionpetition any court of competent jurisdiction, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.11, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(a) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 7.13 within a reasonable time after written request therefor by the Company or by any Noteholder Holder who satisfies the requirements has been a bona fide Holder of Section 310(b) of the Trust Indenture Act; ora Note or Notes for at least six months;
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.11, any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction jurisdiction, at the expense of the Company, for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time time, with 30 calendar days prior written notice to the Trustee and the Company, remove the Trustee and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case . If no successor trustee shall have been so appointed and have accepted appointment within 30 calendar days after removal of the Trustee so removed or any Noteholderby the Holders, or if such the Trustee so removed or any Noteholder fails to actmay, at the expense of the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an the appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.09 shall become effective upon (i) payment of all fees and expenses owing to the Trustee and (ii) acceptance of appointment by the successor trustee as provided in Section 8.127.10.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Cinemark Holdings, Inc.)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security reg- ister. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself him- self and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series by giving written notice of such resignation to the Company and to the holders of NotesCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with respect to the applicable series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 days after the mailing of such notice of resignation to the Noteholdersresignation, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 310(b) of the Trust Indenture Act, as specified in Section 7.08 with respect to any series of Securities after written request therefor by the Company or by any Noteholder securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) a Security or Securities of the Trust Indenture Act; orsuch series for at least six months;
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 with respect to any series of Securities and shall fail to resign after written request therefor by the Company or by any such Noteholdersecurityholder; or
(iii3) the Trustee shall become incapable of actingacting with respect to any series of Securities, or shall be adjudged as 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, in any such case, the Company may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee with respect to such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.14, any Noteholder securityholder of such series who has been a bona fide holder of a Note Security or Notes Securities of the applicable series for at least six (6) months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an appointment of a successor trusteewith respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities of all series (voting as one class) at the time outstanding Outstanding may at any time remove the Trustee with respect to Securities of all series and nominate appoint a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice with respect to the Company Securities of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trusteeall series.
(cd) Any resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon the appointment of a successor trustee and the acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company Issuer and to the holders Holders of Notes. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of DirectorsTrustees, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) calendar days after the mailing delivery of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company Issuer and the Noteholders, appoint a successor identified in such notice or may petition, at the expense of the CompanyIssuer, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder . A majority of Noteholders who has have been a bona fide holder holders of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, may also petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 7.08 after written request therefor by the Company Issuer or by any Noteholder majority of Noteholders who satisfies the requirements has have been a bona fide holders of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 and shall fail to resign after written request therefor by the Company Issuer or by any such Noteholdermajority of Noteholders; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company Issuer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of DirectorsTrustees, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) calendar days after either the Company Issuer or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the CompanyIssuer, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the CompanyIssuer’s obligations under Section 8.07 7.06 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Pennsylvania Real Estate Investment Trust)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of actingSecurityholder, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written writ ten notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.. 44
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become be come effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Webster Financial Corp)
Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trust created hereby by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesHolders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 days after the mailing of such notice of resignation to the NoteholdersHolders, the resigning Trustee may, at the expense of the Company, upon ten (10) Business Days’ notice to the Company and the NoteholdersHolders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09Section 6.11, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(a) In case at any time any of the following shall occur:
(i) A. the Trustee shall fail to comply with Section 8.09 Section 7.13 within a reasonable time after written request therefor by the Company or by any Noteholder Holder who satisfies the requirements has been a bona fide Holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; ormonths;
(ii) B. the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 Section 7.08 and shall fail to resign after written request therefor by the Company or by any such NoteholderHolder; or
(iii) C. the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09Section 6.11, any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee by notifying the Trustee in writing at least 30 days prior to such removal and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case . If no successor trustee shall have been so appointed and have accepted appointment within 30 days after removal of the Trustee so removed or any Noteholderby the Holders, or if such the Trustee so removed or any Noteholder fails to actmay, at the expense of the Company, upon ten Business Days’ notice to the terms Company and conditions and otherwise as in Section 8.11 providedthe Holders, may petition any court of competent jurisdiction for an the appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 Section 7.09 shall become effective upon (i) payment of all fees and expenses owing to the Trustee and (ii) acceptance of appointment by the successor trustee as provided in Section 8.12Section 7.10.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. The Trustee (including the Trustee as Certificate Registrar) may at any time resign and be discharged from the trust hereby created by giving written notice of such resignation thereof to the Company Trustee, the Depositor, the Seller and to the holders of NotesRating Agencies. Upon receiving such notice of resignationresignation of the Trustee, the Company Depositor shall promptly appoint a successor trustee Trustee that meets the requirements in Section 8.06 by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trusteeTrustee. If no successor trustee Trustee shall have been so appointed and have having accepted appointment sixty (60) within 30 days after the mailing giving of such notice of resignation to the Noteholdersresignation, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, Trustee. If at any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to time the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
Trustee (a) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 and 8.06 hereof, (b) shall fail be legally unable to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of actingact, or shall be adjudged as 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, (c) shall fail to deliver to the Depositor and the Sponsor the information, attestations or reports required pursuant to Section 8.01(b) through (d) hereto or (d) shall fail to file any Form 10-D or Form 10-K when due pursuant to Section 3.05 hereof (other than as a result of the failure of the Depositor to sign and return to the Trustee such Form 10-D or Form 10-K within the time limitations of Section 3.05 or any other party to deliver information in any such casea timely manner as set forth in Section 3.05), then the Depositor may immediately remove the Trustee. If the Depositor removes the Trustee under the authority of the immediately preceding sentence, the Company may remove the Trustee and Depositor shall promptly appoint a successor trustee Trustee that meets the requirements of Section 8.06, by written instrument, in duplicate, executed by order of the Board of Directorstriplicate, one copy of which instrument shall be delivered to the Trustee so removed removed, and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding Majority Certificateholders may at any time remove the Trustee by written instrument or instruments delivered to the Depositor and nominate the Trustee; the Depositor or the Trustee shall thereupon use its best efforts to appoint a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, Trustee in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) accordance with this Section. Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.11 8.07 shall not become effective upon until acceptance of appointment by the successor trustee Trustee as provided in Section 8.128.08 hereof.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersSecurityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:occur --
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, ,in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Hubco Inc)
Resignation or Removal of Trustee. (a) The Trustee may --------------------------------- at any time resign by giving written notice of such resignation to the Company and to the holders of NotesCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee Trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trusteeTrustee. If no successor trustee Trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing giving of such notice of resignation to the Noteholdersresignation, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least ---- ---- six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 310(b) of the Trust Indenture Act pursuant to Section 8.08 after written request therefor by the Company or by any Noteholder who satisfies has been a bona fide holder of a Note or Notes for at least six months, unless the requirements Trustee's duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act; or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, case the Company may remove the Trustee and appoint a successor trustee Trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a ---- ---- Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture ActTrustee.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may may, by giving written notice to the Company and the Trustee, at any time remove the Trustee and nominate a successor trustee Trustee which shall be deemed appointed as successor trustee unless, Trustee unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 8.10 provided, may petition any court of competent jurisdiction for an the appointment of a successor trusteeTrustee.
(cd) Any resignation or removal of the Trustee and any appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee Trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Emc Corp)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The Upon prior written notice to the Company and the Trustee, the holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Albank Capital Trust I)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, ,one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Security- holders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:occur --
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurity- holder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Bank of Boston Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesHolders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the NoteholdersHolders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the NoteholdersHolders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.11, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 7.09 after written request therefor thereof by the Company or by any Noteholder Holder who satisfies the requirements has been a bona fide Holder of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such either case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.11, any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 8.04, may at any time remove the Trustee and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyHolder, upon the terms and conditions and otherwise as in Section 8.11 7.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.09 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (American Equity Investment Life Holding Co)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign and be discharged with respect to the Notes of one or more Series by giving 90 days' written notice thereof to the Administrator, the Servicer, the Company, the Noteholders of such resignation to Series and the Company and to the holders of NotesRating Agencies. Upon receiving such notice of resignation, the Company Administrator shall promptly appoint a successor trustee Trustee not objected to by Noteholders of such Series with a Percentage of more than 50% within 30 days after prior written notice, by written instrument, in duplicate, executed by order of the Board of Directorsquintuplicate, one copy counterpart of which instrument shall be delivered to each of the resigning Company, the Servicer, the successor Trustee and one the predecessor Trustee. A copy of such instrument shall be delivered to the successor trusteeRating Agencies. If no successor trustee Trustee shall have been so appointed and have accepted appointment sixty (60) within 90 days after the mailing giving of such notice of resignation to the Noteholdersresignation, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(ab) In case If at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.07 and shall fail to resign after written request therefor by the Company Administrator, or by if at any such Noteholder; or
(iii) time the Trustee shall become incapable of actingbe legally unable to act, or shall be adjudged as 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, in any then the Administrator or Noteholders of each Series with a Percentage greater than 50% may direct, and the Administrator shall follow such casedirection and remove the Trustee. If it removes the Trustee under the authority of the immediately preceding sentence, the Company may remove the Trustee and Administrator shall promptly appoint a successor trustee Trustee not objected to by Noteholders of each Series with a Percentage of more than 50%, within 30 days after prior written notice, by written instrument, in duplicate, executed by order of the Board of Directorsquintuplicate, one copy counterpart of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense each of the Company, the Servicer, the Noteholders, the successor Trustee and the predecessor Trustee. Copies of such instrument shall also be delivered by the Administrator to each of the Rating Agencies.
(c) The Trustee may be removed by the Administrator at any court of competent jurisdiction for an appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove time by giving written notice thereof to the Trustee and appoint a successor trustee. The Trustee shall comply with Section 310(b) each of the Trust Indenture Act.
(b) The holders of a majority in aggregate the Notes then outstanding. Such removal by the Administrator will become effective unless the holders of at least 51% of the principal amount of the Notes at the time of each Series then outstanding may at any time remove the Trustee and nominate deliver a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice written statement to the Company Administrator opposing such removal within 30 days following receipt of such nomination, notice of removal from the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trusteeAdministrator.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.11 7.08 shall not become effective upon until acceptance of appointment by the successor trustee Trustee as provided in Section 8.127.09.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesDebentures at their addresses as they shall appear on the registry books of the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within sixty (60) days after the mailing of such notice of resignation to the NoteholdersDebentureholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Debentureholder who has been a bona fide holder of a Note Debenture or Notes Debentures for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of subsection (a) of Section 8.09 8.08 after written request therefor by the Company or by any Noteholder Debentureholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Debenture or Debentures for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Debentureholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, case the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder Debentureholder who has been a bona fide holder of a Note Debenture or Notes Debentures for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Debentures at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyDebentureholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 8.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (SCS Transportation Inc)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNoteholders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, may petition at the expense of the Company, Company any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 6.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months maymonths, on behalf of himself and all others similarly situated, or the Trustee, at the expense of the Company, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined in accordance with Section 7.04, may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 6.10(a) provided, may petition at the expense of the Company any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Sandisk Corp)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; or
a Security or Securities for at least six months, or 37 44 (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeSecurityholder, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Trenwick Capital Trust I)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective becomeeffective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of NotesHolders. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee Trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trusteeTrustee. If no successor trustee Trustee shall have been so appointed and have accepted appointment sixty (60) 60 days after the mailing of such notice of resignation to the NoteholdersHolders, the resigning Trustee may, upon ten (10) 10 Business Days’ notice to the Company and the NoteholdersHolders, appoint a successor identified in such notice or may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or, if any Noteholder Holder who has been a bona fide holder of a Note or Notes Holder for at least six (6) months may, subject to the provisions of Section 7.098.14, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 10.08 after written request therefor by the Company or by any Noteholder Holder who satisfies the requirements has been a bona fide Holder of Section 310(b) of the Trust Indenture Acta Security or Securities for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 10.09 and shall fail to resign after written request therefor by the Company or by any such NoteholderHolder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee Trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trusteeTrustee, or, subject to the provisions of Section 7.098.14, any Noteholder Holder who has been a bona fide holder of a Note or Notes Holder for at least six (6) 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 trusteeTrustee; provided provided, however, that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) 60 days after either the Company or the Noteholders Holder has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, petition any court of competent jurisdiction for an appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. The Trustee shall comply with Section 310(b) of the Trust Indenture ActTrustee.
(bc) The holders Holders of a majority in aggregate principal amount Principal Amount of the Notes Securities at the time outstanding Outstanding may at any time remove the Trustee and nominate a successor trustee Trustee which shall be deemed appointed as successor trustee Trustee unless, within ten (10) 10 days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any NoteholderHolder, or if such Trustee so removed or any Noteholder Holder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 10.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trusteeTrustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.11 10.10 shall become effective upon acceptance of appointment by the successor trustee Trustee as provided in Section 8.1210.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Xilinx Inc)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Actmonths; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders such Noteholder has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or or, if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(de) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 8.06 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Headwaters Inc)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.8 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may may, at the expense of the Company, petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Electroglas Inc)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Notes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the affected Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.. 23 28
(ab) In case at any time any of the following shall occur:
: (i) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; or
a Note or Notes for at least six months, or (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
, or (iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.6.11. SECTION
Appears in 1 contract
Samples: Indenture (Trenwick Group Inc)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.09SECTION 5.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 the provisions of SECTION 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 SECTION 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09SECTION 5.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribeproper, remove the Trustee and appoint a successor trustee. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in Section 8.11 subsection (a) of this SECTION 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 SECTION 6.10 shall become effective only upon acceptance of appointment by the successor trustee as provided in Section 8.12SECTION 6.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Illinois Power Co)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company Issuer and to the holders Holders of Notes. Upon receiving such notice of resignation, the Company Issuer shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) calendar days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company Issuer and the Noteholders, appoint a successor identified in such notice or may petition, at the expense of the CompanyIssuer, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.09 hereof, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
: (i) the Trustee shall fail to comply with Section 8.09 7.08 hereof after written request therefor by the Company Issuer or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
or (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 hereof and shall fail to resign after written request therefor by the Company Issuer or by any such Noteholder; or
or (iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company Issuer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.40 DM_US 172750087-7.111690.0021
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11 hereof.
(d) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.10, the CompanyIssuer’s obligations under Section 8.07 7.06 hereof shall continue for the benefit of the retiring Trustee. Section 7.11.
Appears in 1 contract
Samples: Indenture (Healthcare Trust of America Holdings, LP)
Resignation or Removal of Trustee. The Trustee may at any time resign and be discharged from the trust created hereby by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesHolders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 days after the mailing of such notice of resignation to the NoteholdersHolders, the resigning Trustee may, at the expense of the Company, upon ten (10) Business Days’ notice to the Company and the NoteholdersHolders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09Section 6.11, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(a) In case at any time any of the following shall occur:
(i) A. the Trustee shall fail to comply with Section 8.09 Section 7.13 within a reasonable time after written request therefor by the Company or by any Noteholder Holder who satisfies the requirements has been a bona fide Holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; ormonths;
(ii) B. the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 Section 7.08 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iii) C. the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09Section 6.11, any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee by notifying the Trustee in writing at least 30 days prior to such removal and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case . If no successor trustee shall have been so appointed and have accepted appointment within 30 days after removal of the Trustee so removed or any Noteholderby the Holders, or if such the Trustee so removed or any Noteholder fails to actmay, at the expense of the Company, upon ten Business Days’ notice to the terms Company and conditions and otherwise as in Section 8.11 providedthe Holders, may petition any court of competent jurisdiction for an the appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 Section 7.09 shall become effective upon (i) payment of all fees and expenses owing to the Trustee and (ii) acceptance of appointment by the successor trustee as provided in Section 8.127.10.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.097.9, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with Section 8.09 8.8 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.9 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.097.9, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may may, at the expense of the Company, petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(de) Notwithstanding If an instrument of acceptance by a successor Trustee shall not have been delivered to the replacement Trustee within 30 days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Trustee pursuant to this SectionCompany, the Company’s obligations under Section 8.07 shall continue any court of competent jurisdiction for the benefit appointment of a successor Trustee with respect to the retiring TrusteeSecurities of such series.
Appears in 1 contract
Samples: Indenture (Dave & Busters Inc)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series by giving written notice of such resignation to the Company and to the holders of NotesCompany. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with respect to the applicable series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 30 days after the mailing of such notice of resignation to the Noteholdersresignation, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. All fees costs, and expenses (including attorneys’ fees and expenses) incurred in connection with such petition shall be paid by the Company.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 310(b) of the Trust Indenture Act, as specified in Section 7.08 with respect to any series of Securities after written request therefor by the Company or by any Noteholder securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) a Security or Securities of the Trust Indenture Act; orsuch series for at least six months,
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 with respect to any series of Securities and shall fail to resign after written request therefor by the Company or by any such Noteholder; securityholder, or
(iii3) the Trustee shall become incapable of actingacting with respect to any series of Securities, or shall be adjudged as 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, in any such case, upon reasonable written notice, the Company may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee with respect to such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.14, any Noteholder securityholder of such series who has been a bona fide holder of a Note Security or Notes Securities of the applicable series for at least six (6) months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an appointment of a successor trusteewith respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities of all series (voting as one class) at the time outstanding Outstanding may at any time remove the Trustee with respect to Securities of all series and nominate appoint a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice with respect to the Company Securities of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trusteeall series.
(cd) Any resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon the appointment of a successor trustee and the acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Subordinated Indenture (TriState Capital Holdings, Inc.)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to any one or more or all series of Debt Securities by giving written notice of such resignation to the Company and by mailing notice thereof to the holders Holders of Notesthe applicable series of Debt Securities at their addresses as they shall appear on the registry books of the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.trustees with
(ab) In case at any time any of the following shall occur:
: (i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii1) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.07 with respect to any series of Debt Securities and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
Holder, or (iii2) the Trustee shall become incapable of actingacting with respect to any series of Debt Securities, or shall be adjudged as 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, in any such case, the Company may remove the Trustee with respect to such series and appoint a successor trustee with respect to such series by written instrument, in duplicate, executed by order under authority of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions requirements of Section 7.09315(e) of the Trust Indenture Act of 1939, any Noteholder Holder who has been a bona fide holder Holder of a Note or Notes Debt Security of such series for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an appointment of a successor trusteewith respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. The Trustee shall comply trustee with Section 310(b) of the Trust Indenture Actrespect to such series.
(bc) The holders Holders of a majority 66 2/3% in aggregate principal amount of the Notes Debt Securities of one or more series (each series voting as a class) or all series at the time outstanding Outstanding may at any time remove the Trustee with respect to the applicable series or all series, as the case may be, and nominate appoint with respect to the applicable series or all series, as the case may be, a successor trustee by written notice of such action to the Company, the Trustee and the successor trustee which shall be deemed appointed as successor trustee unlesswith respect to the applicable series of Debt Securities or all series, as the case may be, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if Holder of a Debt Security of the applicable series (in the case of any such Trustee so removed objection to a nomination of a successor trustee with respect to such series) or any Noteholder fails Holder (in the case of any such objection to act, the Companya nomination of a successor trustee with respect to all series), upon the terms terms, and conditions and otherwise as in subsection (a) of this Section 8.11 7.08 provided, may petition any court of competent jurisdiction for an the appointment of a successor trusteetrustee with respect to such series of Debt Securities or all series, as the case may be.
(cd) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 8.11 7.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.09.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (McDonalds Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Actmonths; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(de) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 8.06 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (On Semiconductor Corp)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and to the holders noteholders, such notice to the noteholders to be given, by mailing (by first-class mail) the notice to their addresses as they shall appear on the registry books of Notesthe Company within thirty days after such notice is given to the Company. Upon receiving such notice of resignationresignation and evidence satisfactory to it of such mailing, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within thirty days after the mailing of such notice of resignation to the Noteholdersresignation, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.08, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of subsection (a) of Section 8.09 7.08 after written request therefor by the Company or by any Noteholder noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Note or Notes for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; noteholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.08, any Noteholder noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a any successor trustee pursuant to any of the provisions of this Section 8.11 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Kaiser Aluminum Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of NotesNotes at their addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 within a reasonable time after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Act; months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; , or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Sepracor Inc /De/)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.11, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.8 after written request re- quest therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Acta Security or Securities for at least six months; or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.9 and shall fail to resign after written request therefor by the Company or by any such NoteholderSecurityholder; or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.shall
Appears in 1 contract
Samples: Indenture (Continucare Corp)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving 60 days written notice of such resignation to the Company and by sending notice thereof to the holders of NotesHolders at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing sending of such notice of resignation to the NoteholdersHolders, the resigning Trustee may appoint a successor trustee on behalf of and at the expense of the Company or it may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petitionHolders, at the expense of the Company, Company petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.11 (Undertaking to Pay Costs), on behalf of himself or herself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 after written request therefor by the Company or by any Noteholder who satisfies the requirements of Section 310(b) of the Trust Indenture Act; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.08 (Eligibility of Trustee) and shall fail to resign after written request therefor by the Company or by any such Noteholder; Holder, or
(iiiii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such either case, the Company may by a Board Resolution remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.11 (Undertaking to Pay Costs), any Noteholder Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders Holders of a majority in aggregate principal amount of the Notes at the time outstanding outstanding, as determined subject to Section 8.04 (Company-Owned Notes Disregarded), may at any time remove the Trustee and nominate a successor trustee which that shall be deemed appointed as successor trustee unless, unless within ten (10) days after notice to the Company of such nomination, nomination the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanyHolder, upon the terms and conditions and otherwise as in Section 8.11 7.09(a) (Resignation or Removal of Trustee) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.09 (Resignation or Removal of Trustee) shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.10 (Acceptance by Successor).
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (GDS Holdings LTD)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ ' notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 8.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(ba Note or Notes for at least six (6) of the Trust Indenture Actmonths; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 8.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 8.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 8.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.128.11.
(de) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s 's obligations under Section 8.07 8.06 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Amdocs LTD)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of actingSecurityholder, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.095.09, any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount of the Notes Securities at the time outstanding may at any time remove the Trustee and nominate a successor trustee trustee, which shall be deemed appointed as successor trustee unless, unless within ten (10) 10 days after notice to the Company of such nomination, nomination the Company objects theretothereto or if no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after such removal, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the CompanySecurityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 8.11 6.10 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.126.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (Orion Capital Trust I)
Resignation or Removal of Trustee. (a) The Trustee may at any time resign by giving written notice of such resignation to the Company and to the holders of Notes. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by order of the Company's Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) 60 calendar days after the mailing of such notice of resignation to the Noteholders, the resigning Trustee may, upon ten (10) Business Days’ ' notice to the Company and the Noteholders, petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or, if any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 7.096.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i) the Trustee shall fail to comply with Section 8.09 7.08 after written request therefor by the Company or by any Noteholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Acta Note or Notes for at least six months; or
(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 7.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; or
(iii) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Company's Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.096.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee Trustee shall have been appointed and have accepted appointment sixty (60) 60 calendar days after either the Company or the Noteholders has removed the Trustee, or the Trustee resigns, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(bc) The holders of a majority in aggregate principal amount Principal Amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) calendar days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 7.10(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(cd) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.127.11.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.
Appears in 1 contract
Samples: Indenture (CSK Auto Corp)
Resignation or Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of such resignation to the Company and by mailing notice thereof to the holders of Notesthe Securities at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee or trustees by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment sixty (60) within 60 days after the mailing of such notice of resignation to the Noteholdersaffected Securityholders, the resigning Trustee may, upon ten (10) Business Days’ notice to the Company and the Noteholders, petition, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor trustee, or, or any Noteholder Securityholder who has been a bona fide holder of a Note or Notes Security for at least six (6) months may, subject to the provisions of Section 7.095.09, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.
(ab) In case at any time any of the following shall occur:
(i1) the Trustee shall fail to comply with the provisions of Section 8.09 6.08 after written request therefor by the Company or by any Noteholder Securityholder who satisfies the requirements has been a bona fide holder of Section 310(b) of the Trust Indenture Act; a Security or Securities for at least six months, or
(ii2) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.10 6.09 and shall fail to resign after written request therefor by the Company or by any such Noteholder; Securityholder, or
(iii3) the Trustee shall become incapable of acting, or shall be adjudged as 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, in any such case, the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Noteholder who has been a bona fide holder of a Note or Notes for at least six (6) 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; provided that if no successor trustee shall have been appointed and have accepted appointment sixty (60) days after either the Company or the Noteholders has removed the Trustee, the Trustee so removed may petition, at the expense of the Company, any court of competent jurisdiction for an 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. The Trustee shall comply with Section 310(b) of the Trust Indenture Act.
(b) The holders of a majority in aggregate principal amount of the Notes at the time outstanding may at any time remove the Trustee and nominate a successor trustee which shall be deemed appointed as successor trustee unless, within ten (10) days after notice to the Company of such nomination, the Company objects thereto, in which case the Trustee so removed or any Noteholder, or if such Trustee so removed or any Noteholder fails to act, the Company, upon the terms and conditions and otherwise as in Section 8.11 provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.
(c) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.11 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.12.
(d) Notwithstanding the replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 8.07 shall continue for the benefit of the retiring Trustee.appoint
Appears in 1 contract
Samples: Indenture (Ucbh Trust Co)
