Common use of Rights of Successor Collateral Trustee Clause in Contracts

Rights of Successor Collateral Trustee. The appointment and designation referred to in Section 5.07(b) shall, after any required filing, be full evidence of the right and authority to make the same and of all the facts therein recited, and this Agreement shall vest in such successor collateral trustee or collateral trustees, without any further act, deed or conveyance, all of the estate and title of its predecessor or their predecessors, and upon such filing for record the successor collateral trustee or collateral trustees shall become fully vested with all the estates, properties, rights, powers, trusts, duties, authority and title of its predecessor or their predecessors; but such predecessor or predecessors shall, nevertheless, on the written request of the Mortgage Bond Trustee or any successor collateral trustee or collateral trustees, execute and deliver an instrument transferring to such successor or successors all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor or predecessors hereunder, take all steps reasonably necessary to assign the Liens and security interests in the Shared Collateral to the successor collateral trustee and shall deliver all securities, instruments, moneys and other Shared Collateral held by it or them to such successor collateral trustee or collateral trustees.

Rights of Successor Collateral Trustee. The appointment and designation referred to in Section 5.07(b6.07(b) shall, after any required filing, be full evidence of the right and authority to make the same and of all the facts therein recited, and this Agreement shall vest in such successor collateral trustee or collateral trustees, without any further act, deed or conveyance, all of the estate and title of its predecessor or their predecessors, and upon such filing for record the successor collateral trustee or collateral trustees shall become fully vested with all the estates, properties, rights, powers, trusts, duties, authority and title of its predecessor or their predecessors; but such predecessor or predecessors shall, nevertheless, on the written request of either Administrative Agent, the Mortgage Bond Trustee Co-gen Agent, the Collateral Agent or any successor collateral trustee or collateral trustees, execute and deliver an instrument transferring to such successor or successors all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor or predecessors hereunder, take all steps reasonably necessary to assign the Liens and security interests in the Shared Collateral to the successor collateral trustee hereunder and shall deliver all securities, instruments, securities and moneys and other Shared Collateral held by it or them to such successor collateral trustee or collateral trustees.. SHARING INTERCREDITOR AGREEMENT

Rights of Successor Collateral Trustee. The appointment and designation referred to in Section 5.07(b6.07(b) shall, after any required filing, be full evidence of the right and authority to make the same and of all the facts therein recited, and this Agreement shall vest in such successor collateral trustee or collateral trustees, without any further act, deed or conveyance, all of the estate and title of its predecessor or their predecessors, and upon such filing for record the successor collateral trustee or collateral trustees shall become fully vested with all the estates, properties, rights, powers, trusts, duties, authority and title of its predecessor or their predecessors; but such predecessor or predecessors shall, nevertheless, on the written request of the Mortgage Bond Trustee Administrative Agent or any successor collateral trustee or collateral trustees, execute and deliver an instrument transferring to such successor or successors all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor or predecessors hereunder, take all steps reasonably necessary to assign the Liens and security interests in the Shared Collateral to the successor collateral trustee hereunder and shall deliver all securities, instruments, securities and moneys and other Shared Collateral held by it or them to such successor collateral trustee or collateral trustees.

Rights of Successor Collateral Trustee. The appointment and designation referred to in Section 5.07(b6.07(b) shall, after any required filing, be full evidence of the right and authority to make the same and of all the facts therein recited, and this Agreement shall vest in such successor collateral trustee or collateral trustees, without any further act, deed or conveyance, all of the estate and title of its predecessor or their predecessors, and upon such filing for record the successor collateral trustee or collateral trustees shall become fully vested with all the estates, properties, rights, powers, trusts, duties, authority and title of its predecessor or their predecessors; but such predecessor or predecessors shall, nevertheless, on the written request of the Mortgage Bond Trustee Requisite Secured Parties or any successor collateral trustee or collateral trustees, execute and deliver an instrument transferring to such successor or successors all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor or predecessors hereunder, take all steps reasonably necessary to assign the Liens and security interests in the Shared Collateral to the successor collateral trustee hereunder and shall deliver all securities, instruments, securities and moneys and other Shared Collateral held by it or them to such successor collateral trustee or collateral trustees.

Rights of Successor Collateral Trustee. The appointment and designation referred to in Section 5.07(b6.07(b) shall, after any required filing, be full evidence of the right and authority to make the same and of all the facts therein recited, and this Agreement shall vest in such successor collateral trustee or collateral trustees, without any further act, deed or conveyance, all of the estate and title of its predecessor or their predecessors, and upon such filing for record the successor collateral trustee or collateral trustees shall become fully vested with all the estates, properties, rights, powers, trusts, duties, authority and title of its predecessor or their predecessors; but such predecessor or predecessors shall, nevertheless, on the written request of the Mortgage Bond Trustee Second Lien Term Loan Administrative Agent or any successor collateral trustee or collateral trustees, execute and deliver an instrument transferring to such successor or successors all the estates, properties, rights, powers, trusts, duties, authority and title of such predecessor or predecessors hereunder, take all steps reasonably necessary to assign the Liens and security interests in the Shared Collateral to the successor collateral trustee hereunder and shall deliver all securities, instruments, securities and moneys and other Shared Collateral held by it or them to such successor collateral trustee or collateral trustees.