Common use of Separate Trustee; Replacement of Trustee Clause in Contracts

Separate Trustee; Replacement of Trustee. The Issuers may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the Issuers. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers shall remove the Trustee if: (a) the Trustee fails to comply with Section 7.10; (b) the Trustee is adjudged bankrupt or insolvent; (c) a Custodian takes charge of the Trustee or its property; or (d) the Trustee otherwise becomes incapable of acting.

Appears in 14 contracts

Samples: Subordinated Indenture (Holly Energy Finance Corp.), Senior Indenture (Holly Energy Finance Corp.), Subordinated Indenture (SLC Pipeline LLC)

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Separate Trustee; Replacement of Trustee. The Issuers Company may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersCompany. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Company shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 13 contracts

Samples: Indenture (Worthington Industries Inc), Indenture (Worthington Industries Inc), Indenture (Swift Energy Co)

Separate Trustee; Replacement of Trustee. The Issuers Company may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersCompany. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Company shall remove the Trustee if: (a) the Trustee fails to comply with Section 7.10; (b) the Trustee is adjudged bankrupt or insolvent; (c) a Custodian takes charge of the Trustee or its property; or (d) the Trustee otherwise becomes incapable of acting.

Appears in 12 contracts

Samples: Indenture (ACRES Commercial Realty Corp.), Indenture (RAIT Financial Trust), Indenture (Resource Capital Corp.)

Separate Trustee; Replacement of Trustee. The Issuers Company may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersCompany. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Company shall remove the Trustee if: (a) the Trustee fails to comply with Section 7.10; (b) the Trustee is adjudged bankrupt or insolvent; (c) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d) the Trustee otherwise becomes incapable of acting.

Appears in 10 contracts

Samples: Indenture (Texas Capital Bancshares Inc/Tx), Indenture (American Oil & Gas Inc), Indenture (Range Resources Corp)

Separate Trustee; Replacement of Trustee. The Issuers Partnership may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersPartnership. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Partnership shall remove the Trustee if: (a) the Trustee fails to comply with Section 7.10; (b) the Trustee is adjudged bankrupt or insolvent; (c) a Custodian takes charge of the Trustee or its property; or (d) the Trustee otherwise becomes incapable of acting.

Appears in 8 contracts

Samples: Indenture (Magellan Midstream Partners Lp), Indenture (Magellan Midstream Partners Lp), Indenture (Enbridge Energy Partners Lp)

Separate Trustee; Replacement of Trustee. The Issuers Partnership may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersPartnership. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Partnership shall remove the Trustee if: (a) the Trustee fails to comply with Section 7.10; (b) the Trustee is adjudged bankrupt or insolvent; (c) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d) the Trustee otherwise becomes incapable of acting.

Appears in 8 contracts

Samples: Subordinated Indenture (Jonah Gas Gathering Co), Indenture (Williams Energy Partners L P), Subordinated Indenture (Williams Energy Partners L P)

Separate Trustee; Replacement of Trustee. The Issuers may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the Issuers. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 3 contracts

Samples: Senior Indenture (Eott Energy Operating Lp), Indenture (Plains All American Pipeline Lp), Subordinated Indenture (Eott Energy Operating Lp)

Separate Trustee; Replacement of Trustee. The Issuers Partnership may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersPartnership and each Guarantor with respect to such series. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Partnership shall remove the Trustee if: (a) the Trustee fails to comply with Section 7.10; (b) the Trustee is adjudged bankrupt or insolvent; (c) a Custodian takes charge of the Trustee or its property; or (d) the Trustee otherwise becomes incapable of actingacting in such capacity.

Appears in 3 contracts

Samples: Indenture (ONEOK Partners LP), Indenture (ONEOK Partners LP), Indenture (ONEOK Partners LP)

Separate Trustee; Replacement of Trustee. The Issuers may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the Issuers. The Holders of a majority in aggregate principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers shall remove the Trustee if: (a) the Trustee fails to comply with Section 7.10; (b) the Trustee is adjudged bankrupt or insolvent; (c) a Custodian takes charge of the Trustee or its property; or (d) the Trustee otherwise becomes incapable of acting.

Appears in 3 contracts

Samples: Indenture (Stonemor Florida Subsidiary LLC), Subordinated Indenture (Alamitos Co), Subordinated Indenture (BreitBurn Finance Corp)

Separate Trustee; Replacement of Trustee. The Issuers Issuer may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersIssuer. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Issuer shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 2 contracts

Samples: Senior Indenture (MarkWest New Mexico LP), Subordinated Indenture (MarkWest New Mexico LP)

Separate Trustee; Replacement of Trustee. The Issuers Partnership may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersPartnership. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Partnership shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 2 contracts

Samples: Indenture (Kaneb Pipe Line Operating Partnership Lp), Indenture (Kaneb Pipe Line Operating Partnership Lp)

Separate Trustee; Replacement of Trustee. The Issuers Issuer may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersIssuer. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Issuer shall remove the Trustee if: (a) the Trustee fails to comply with Section 7.10; (b) the Trustee is adjudged bankrupt or insolvent; (c) a Custodian takes charge of the Trustee or its property; or (d) the Trustee otherwise becomes incapable of acting.

Appears in 2 contracts

Samples: Indenture (Seadrill Partners LLC), Indenture (Seadrill Partners LLC)

Separate Trustee; Replacement of Trustee. The Issuers Company ---------------------------------------- may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersCompany. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Company shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 1 contract

Samples: Indenture (Electronic Data Systems Corp /De/)

Separate Trustee; Replacement of Trustee. The Issuers Company may, ---------------------------------------- but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersCompany. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Company shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 1 contract

Samples: Indenture (Electronic Data Systems Corp /De/)

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Separate Trustee; Replacement of Trustee. The Issuers Company ----------------------------------------- may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersCompany. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Company shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 1 contract

Samples: Indenture (Chirex Inc)

Separate Trustee; Replacement of Trustee. The Issuers Company may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersCompany. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Company shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.. If the Trustee resigns, is removed by the Company or by the Holders of a majority in principal amount of the

Appears in 1 contract

Samples: Indenture (Chieftain International Inc)

Separate Trustee; Replacement of Trustee. The Issuers may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the Issuers. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.. If the Trustee resigns, is removed by the Issuers or by the Holders of a majority in principal amount of the Debt Securities of a particular series and such Holders do not reasonably promptly appoint a successor Trustee, or if a

Appears in 1 contract

Samples: Indenture (Eott Energy Canada Lp)

Separate Trustee; Replacement of Trustee. The Issuers may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the Issuers. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers shall may remove the Trustee if: (a) the Trustee fails to comply with Section 7.10; (b) the Trustee is adjudged bankrupt or insolvent; (c) a Custodian takes charge of the Trustee or its property; or (d) the Trustee otherwise becomes incapable of acting.

Appears in 1 contract

Samples: Senior Indenture (MPT of West Anaheim, LLC)

Separate Trustee; Replacement of Trustee. The ---------------------------------------- Issuers may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the Issuers. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 1 contract

Samples: Senior Indenture (Plains All American Pipeline Lp)

Separate Trustee; Replacement of Trustee. The Issuers Company may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by 66 giving notice to the IssuersCompany. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Company shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 1 contract

Samples: Indenture (Premier Parks Inc)

Separate Trustee; Replacement of Trustee. The Issuers Issuer may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee or any successor hereafter appointed may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersIssuer. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Issuer shall remove the Trustee if: (a) the Trustee fails to comply with Section 7.10; (b) the Trustee is adjudged bankrupt or insolvent; (c) a Custodian takes charge of the Trustee or its property; or (d) the Trustee otherwise becomes incapable of acting.

Appears in 1 contract

Samples: Subordinated Indenture (MPLX Operations LLC)

Separate Trustee; Replacement of Trustee. The Issuers Company may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the IssuersCompany. The Holders of a majority in aggregate principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers Company shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 1 contract

Samples: Indenture (Cornell Corrections Inc)

Separate Trustee; Replacement of Trustee. The Issuers ---------------------------------------- may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the Issuers. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Issuers shall remove the Trustee if: (a1) the Trustee fails to comply with Section 7.10; (b2) the Trustee is adjudged bankrupt or insolvent; (c3) a Custodian receiver or other public officer takes charge of the Trustee or its property; or (d4) the Trustee otherwise becomes incapable of acting.

Appears in 1 contract

Samples: Subordinated Indenture (Plains All American Pipeline Lp)

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