Retirement of Security Trustee. Any security trustee for the time being of this Deed may retire at any time upon giving not less than three calendar months' prior notice in writing to the Fourth Issuer without assigning any reason therefor and without being responsible for any costs resulting from such retirement. Provided, however, that the retirement or removal of any security trustee shall not become effective unless there remains at least one security trustee hereof in office upon such retirement or removal. The Fourth Issuer covenants that, in the event of a security trustee (being a sole security trustee) giving notice under this Clause or being removed as referred to in Clause 25.1 (Power of Fourth Issuer), it shall use its best endeavours to procure a new security trustee of this Deed to be appointed as soon as reasonably practicable thereafter. If within 60 days of having given notice of its intention to retire, the Fourth Issuer has failed to appoint a replacement Security Trustee, the outgoing Security Trustee will be entitled to appoint its successor (provided that such successor is acceptable to the Rating Agencies and will agree to the terms of this Deed) and that the Rating Agencies confirm in writing that the current ratings of the Notes shall not be either downgraded, reviewed or withdrawn as a result of such appointment).
Retirement of Security Trustee. 50 27. Trust Indenture Act prevails............................................50 28.
Retirement of Security Trustee. The Security Trustee covenants that it will retire as Security Trustee if:
(a) (Insolvency): an Insolvency Event occurs in relation to the Security Trustee in its personal capacity or in respect of its personal assets (and not in its capacity as trustee of any trust or in respect of any assets it holds as trustee);
(b) (Ceases to carry on business): it ceases to carry on business;
(c) (Related Trustee retires): a Related Body Corporate of it retires as trustee of the Series Trust under clause 19.1, clause 19.2 or clause 19.4 of the Master Trust Deed or is removed as trustee of the Series Trust under clause 19.3 of the Master Trust Deed and the Manager requires the Security Trustee by notice in writing to retire;
(d) (Voting Secured Creditors require retirement): an Extraordinary Resolution requiring its retirement is passed at a meeting of Voting Secured Creditors;
(e) (Breach of duty): when required to do so by the Manager or the Trustee by notice in writing, it fails or neglects within 14 days after receipt of such notice to carry out or satisfy any material duty imposed on it by this Deed in respect of the Security Trust; or
(f) (Change in ownership): there is a change in ownership of 50% or more of the issued equity share capital of the Security Trustee from the position as at the date of this Deed or effective control of the Security Trustee alters from the position as at the date of this Deed unless in either case approved by the Manager (whose approval must not be unreasonably withheld).
Retirement of Security Trustee. The Security Trustee may retire from its appointment as Security Trustee under this Agreement and the other Transaction Documents without giving any reason having given to the Finance Parties, each Borrower, each Lessee and a Principal AerCap Obligor not less than thirty (30) days’ notice of its intention to do so, provided that no such retirement shall take effect unless there has been appointed as a successor security agent and trustee by instrument in writing signed by the Security Trustee and accepted in writing by the successor:
22.1.1 a bank or financial institution nominated by the Majority Lenders; or
22.1.2 failing such a nomination, any bank or financial institution nominated by the Security Trustee after consultation with the Secured Parties,
22.1.3 and, in either case, that successor security trustee shall have duly accepted that appointment by delivering to each Agent written confirmation (in a form acceptable to each Agent) of that acceptance agreeing to be bound by this Agreement in the capacity of Security Trustee as if it had been an original party to this Agreement and the other Transaction Documents.
Retirement of Security Trustee. Subject as provided in Clause 19.6 (Retirement or Removal not Effective), any Security Trustee for the time being of this Funding Deed of Charge may retire at any time upon giving not less than three calendar months' prior notice in writing to Funding without assigning any reason therefor and without being responsible for any costs resulting from such retirement.
Retirement of Security Trustee. The Security Trustee may retire from its appointment as Security Trustee under this Agreement and the other Transaction Documents without giving any reason and without being responsible for any costs occasioned by that retirement having given to the Finance Parties, each Borrower, each Lessee and debis not less than thirty (30) days’ notice of its intention to do so, provided that no such retirement shall take effect unless there has been appointed as a successor security agent and trustee by instrument in writing signed by the Security Trustee and accepted in writing by the successor:
25.1.1 a bank or financial institution (or other person approved by debis) nominated by the Majority Lenders and, for so long as no Lease Termination Event has occurred and is, consented to in writing by debis (such consent not be unreasonably withheld or delayed); or
25.1.2 failing such a nomination and for so long as no Lease Termination Event has occurred and is continuing, a bank or financial institution (or other person approved by debis) nominated by debis and consented to in writing by the Majority Lenders (such consent not be unreasonably withheld or delayed); or
25.1.3 failing such a nomination, any bank or financial institution (or other person approved by debis) nominated by the Security Trustee after consultation with the Secured Parties, and, in either case, that successor security trustee shall have duly accepted that appointment by delivering to each Agent written confirmation (in a form acceptable to each Agent) of that acceptance agreeing to be bound by this Agreement in the capacity of Security Trustee as if it had been an original party to this Agreement and the other Transaction Documents.
Retirement of Security Trustee. Any security trustee for the time being of this Deed may retire at any time upon giving not less than 60 days' prior notice in writing to the Issuer without assigning any reason therefor and without being responsible for any costs resulting from such retirement. The holders of the Most Senior Class may, by Extraordinary Resolution, remove all trustee or trustees (but not some only) for the time being of this Deed and the Trust Deed. The retirement or removal of any security trustee shall not become effective unless there remains at least one security trustee hereof being a Trust Corporation in office upon such retirement or removal. The Issuer covenants that, in the event of a security trustee (being a sole security trustee or the only Trust Corporation) giving notice under this Clause 29 or being removed as referred to in Clause 28.1 (Power of Issuer), it shall use its best endeavours to procure a new security trustee of this Deed (being a Trust Corporation) to be appointed as soon as reasonably practicable thereafter. If the Issuer has not appointed a new security trustee prior to the expiry of the notice period given by the Security Trustee, the Security Trustee shall be entitled to nominate a replacement, being a Trust Corporation provided such appointment will not take effect unless approved by Extraordinary Resolution of the Most Senior Class.
Retirement of Security Trustee. 10.1 Subject to the appointment and acceptance of a successor to the Security Trustee as provided below, the Security Trustee may (i) resign at any time and for any reason by giving not less than three months' notice in writing to the Facility Agent and the Obligors and (ii) be removed at any time with or without cause by the Facility Agent. Upon any such resignation or removal, a successor Security Trustee shall be appointed by the Facility Agent and, unless a Potential Event of Default or Event of Default has occurred, with the consent of the Obligors (which consent shall not be unreasonably withheld or delayed). The Security Trustee shall not be responsible for any cost caused by its resignation.
10.2 If no successor Security Trustee is so appointed and has accepted such appointment within thirty days after the retiring Security Trustee's notice of resignation or the removal of the Security Trustee, then the Facility Agent may, on behalf of the Finance Parties, appoint a successor Security Trustee and, unless a Potential Event of Default or Event of Default has occurred, with the consent of the Obligors (which consent shall not be unreasonably withheld or delayed). Such successor shall be a trust corporation or commercial bank which is acceptable to the Facility Agent. If the Facility Agent is unable to appoint a successor within 30 days after the expiration of the 30-day period referred to in the preceding sentence, the Security Trustee may apply to any court of competent jurisdiction to appoint a successor Security Trustee to act until such time, if any, as a successor Security Trustee is appointed by the Facility Agent. Until the appointment of a successor Security Trustee, the retiring or removed Security Trustee shall continue to act as Security Trustee.
10.3 Any successor Security Trustee appointed by such court shall immediately and without further act be superseded by any successor Security Trustee appointed by the Facility Agent.
10.4 Upon the acceptance of any appointment as Security Trustee by a successor Security Trustee, such successor Security Trustee shall immediately succeed to and become vested with all the Trust Property, the Rights and duties of the retiring Security Trustee, and the retiring Security Trustee shall be discharged from any further duties and obligations under the Security Documents. Upon the written request of such successor Security Trustee and subject to receipt of such indemnity as to costs and expenses incurred as t...
Retirement of Security Trustee. The Security Trustee may retire from its appointment as Security Trustee under this Agreement without giving any reason having given not less than thirty (30) days notice of its intention to do so to the Financing Parties and each Borrower; provided always that no such retirement shall take effect unless such retirement relates to all the trusts constituted and evidenced by this Agreement and a successor Security Trustee in respect of all trusts constituted and evidenced by this Agreement has been appointed by instrument in writing signed by the Security Trustee:
25.19.1 a trust corporation, bank or financial institution nominated by the Facility Majority Senior Lenders; or
Retirement of Security Trustee. Any trustee for the time being of this Deed may retire at any time upon giving not less than three months' prior notice in writing to Funding without assigning any reason therefor and without being responsible for any costs resulting from such retirement. The retirement or removal of any trustee shall not become effective unless there remains at least one trustee hereof being a trust corporation in office upon such retirement or removal. Funding covenants that, in the event of a trustee (being a sole trustee or the only trust corporation) giving notice under this Clause or being removed as referred to in CLAUSE 27.1 (
