Common use of RESIGNATION, REMOVAL AND OTHER MATTERS RELATING TO THE EVALUATOR Clause in Contracts

RESIGNATION, REMOVAL AND OTHER MATTERS RELATING TO THE EVALUATOR. (a) The Evaluator may resign and be discharged hereunder, by executing an instrument in writing resigning as the Evaluator and filing the same with the Depositor (if separate from the Evaluator) and the Trustee not less than 60 days before the date specified in such instrument when, subject to Section 4.05(c), such resignation is to take effect. Upon receiving such notice of resignation, the Depositor shall use its best efforts to appoint a successor Evaluator having qualifications and at a rate of compensation satisfactory to the Depositor. Such appointment shall be made by written instrument executed by the Depositor and the Trustee in duplicate, one copy of which shall be delivered to the resigning Evaluator and one copy to the successor evaluator. The Depositor or the Trustee may remove the Evaluator at any time upon thirty days' written notice and appoint a successor evaluator having qualifications and at a rate of compensation satisfactory to the Depositor and the Trustee. Such appointment shall be made by written instrument executed by the Depositor and the Trustee in duplicate, one copy of which shall be delivered to the Evaluator so removed and one copy to the successor evaluator. Notice of such resignation or removal and appointment of a successor evaluator shall be mailed by the Trustee to each Unitholder.

RESIGNATION, REMOVAL AND OTHER MATTERS RELATING TO THE EVALUATOR. (a) The Evaluator may resign and be discharged hereunder, by executing an instrument in writing resigning as the Evaluator and filing the same with the Depositor (if separate from the Evaluator) and the Trustee not less than 60 days before the date specified in such instrument when, subject to Section 4.05(c), such resignation is to take effect. Upon receiving such notice of resignation, the Depositor (if separate from the Evaluator) and the Trustee shall use its their best efforts to appoint a successor Evaluator having qualifications and at a rate of compensation satisfactory to the DepositorDepositor (if separate from the Evaluator) and the Trustee. Such appointment shall be made by written instrument executed by the Depositor (if separate from the Evaluator) and the Trustee Trustee, in duplicate, one copy of which shall be delivered to the resigning Evaluator and one copy to the successor evaluatorEvaluator. The Depositor or the Trustee may remove the Evaluator at any time upon thirty days' written notice and appoint a successor evaluator Evaluator having qualifications and at a rate of compensation satisfactory to the Depositor and the Trustee. Such appointment shall be made by written instrument executed by the Depositor and the Trustee Depositor, in duplicate, one copy of which shall be delivered to the Evaluator so removed and one copy to the successor evaluatorEvaluator. Notice of such resignation or removal and appointment of a successor evaluator Evaluator shall be mailed by the Trustee to each Unitholder.