Substitution of the Trustee. The parties acknowledge and agree that the Company is entitled to replace the Trustee and/or to nominate another person to serve as a trustee in lieu of the existing trustee if the same is no longer capable or willing to fulfill his duties and that the new trustee shall have the same powers and authority which the Plan and this Agreement grant the Trustee.
Substitution of the Trustee. (a) Subject to paragraphs (c) and (d) below, the Trustee may resign its position a trustee hereunder, by giving written notice to the Settlors and the Beneficiary at least sixty (60) calendar days in advance (except as set forth in Clause Tenth (c) hereof), including upon the occurrence of the event set forth in Clause Fourteenth (a)(iv), provided that the Trustee may under no circumstances resign if an enforcement action pursuant to Clause Seventh hereof shall have been initiated. Subject to the provisions of paragraph (c) below, the appointment of the Trustee may also be terminated, by means of a notice in writing given by the Beneficiary, at least thirty (30) calendar days in advance.
Substitution of the Trustee. (a) Subject to the provisions of paragraphs (c) and (d) below, the Trustee may terminate E-213 its performance as trustee according to this Trust through a written notice to MAXCOM and to the CPO Holders at least 60 (sixty) calendar days in advance. Subject to paragraph (c) below, the Trustee may be removed through a written notice by the Common Representative that has the approval from the Majority of the CPO Holders, issued at least 30 (thirty) calendar days in advance;
Substitution of the Trustee. The parties acknowledge and agree that the Company is entitled to replace the trustee and/or to nominate another person to serve as a trustee in lieu of the existing trustee if the same is no longer capable or willing to fulfill his duties and that the new trustee shall have the same powers and authority which the Plan and this Agreement grant the trustee. 10. Governing Laws This Agreement shall be governed by and construed in accordance with the laws of the State of Israel and, subject to the provisions of Section 11 below, the competent courts in the Tel-Aviv district shall have exclusive jurisdiction with respect to any matter or conflict with respect thereto. 11. Disputes As a condition of the granting of the Option, the Employee and the Employee's successors and assigns agree that any dispute or disagreement which shall arise under or as a result of this Agreement shall be determined by the Board, or any committee designated by the Board pursuant to the Plan, in its sole discretion and judgment and that any such determination and any interpretation by the Board or any such committee of the terms of this Agreement shall be final and shall be binding and conclusive for all purposes. In making any such determination or interpretation the Board or any such committee shall not be bound by the rules of procedure or evidence or substantive law and shall not be required to give any reasons therefore.
Substitution of the Trustee. (a) The Trustee may resign by means of written notice delivered to the Settlors’ Representative and the First Beneficiary at least 60 (sixty) days prior to the date on which such resignation shall become effective. Upon receipt of a resignation notice from the Trustee, and provided that no Concurso Notice has been delivered, the Settlors’ Representative, subject to the consent of the First Beneficiary shall appoint a substitute Trustee, to be appointed by the Parties, amongst any Mexican institution with a nationally recognized trust department; in the understanding, however, that the Trustee shall continue to act as trustee until the date on which the substitute Trustee executes the documentation described in section (c) below.
Substitution of the Trustee. Beneficiary may remove the Trustee at any time or from time to time, with or without cause, and appoint a successor trustee, and upon such appointment, all powers, rights, duties and authority of the Trustee, as aforesaid, shall thereupon become vested in such successor. Such substitute trustee shall be appointed by written instrument duly recorded in the county or counties where the real property covered hereby is located, which appointment may be executed by any authorized agent of Beneficiary or in any other manner permitted by applicable law.
Substitution of the Trustee. Notwithstanding anything herein contained to the contrary, if the Trustee fails, refuses, or becomes unable to act, or if for any reason the Collateral Agent, in its sole and absolute discretion, deems it advisable, the Collateral Agent is hereby authorized and empowered to appoint, by an instrument recorded wherever this Deed of Trust is recorded, one or more other Trustees, in the place and stead of the Trustee named herein, which substitute Trustee or Trustees shall have all rights, powers, and authority and be charged with all the duties that are conferred or charged upon the Trustee named herein; and if more than one Trustee is so named, any one or more of such Trustees may act hereunder without the joinder of any other Trustee or Trustees and any act taken hereunder by any one or more Trustees shall be as effective as if taken by all Trustees.
Substitution of the Trustee. (a) Subject to the provisions of paragraphs (c) and (d), below, the Trustee may terminate its service as such pursuant hereto, by written notice to the Trustors and the Trust Beneficiary in the First Instance, at least 60 (sixty) calendar days in advance. Subject to the provisions of paragraph (c), below, the Trustee’s appointment may be terminated by written notice given by the Trust Beneficiary in the First Instance at least 10 (ten) calendar days in advance.
