Common use of Substitution of the Trustee Clause in Contracts

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. (b) If the Trustee shall cease to act as trustee under this Agreement, due to an anticipated termination of its duties in accordance with paragraph (a) above or upon the occurrence of the Termination Date, the Trustee shall prepare account statements and accounts related to the Trust Assets, which shall be delivered within thirty (30) calendar days following such termination to the Settlors and the Beneficiary. The Settlors and the Beneficiary shall have thirty (30) calendar days to examine and object to such account statements and accounts, counted from the date of receipt thereof; after such period shall have expired, the financial statements and accounts shall be deemed as approved by the Settlors and the Beneficiary, unless mistakes or any errors or omissions shall not be evident. (c) The Beneficiary shall be entitled to appoint any successor Trustee, provided that, so long as no Enforcement Event shall have occurred and be continuing, the Settlors shall have the right to consent to any such appointment, within fifteen (15) calendar days following the date the representative of the Settlors shall have received notice of such appointment, consent which may not be unreasonably withheld and which shall be deemed given if the Settlors do not object to such appointment in a timely manner. (d) The Trustee shall not cease to be the trustee hereunder until the successor trustee is appointed pursuant to the terms set forth herein, such successor trustee has accepted its designation, and the Trust Assets have been duly transferred to the successor trustee. (e) Any successor trustee shall have the same rights and obligations as the Trustee hereunder, and shall be deemed the “Trustee” for all purposes of this Agreement.

Substitution of the Trustee. (a) Subject to paragraphs (c) and (d) below, the The Trustee may resign its position a trustee hereunder, by giving means of written notice delivered to the Settlors Settlors’ Representative and the First Beneficiary at least sixty 60 (60sixty) calendar days in advance (except as set forth in Clause Tenth (c) hereof)prior to the date on which such resignation shall become effective. Upon receipt of a resignation notice from the Trustee, including upon and provided that no Concurso Notice has been delivered, the occurrence Settlors’ Representative, subject to the consent of the event set forth First Beneficiary shall appoint a substitute Trustee, to be appointed by the Parties, amongst any Mexican institution with a nationally recognized trust department; in Clause Fourteenth (a)(iv)the understanding, provided however, that the Trustee may under no circumstances resign if an enforcement action pursuant shall continue to Clause Seventh hereof shall have been initiated. Subject to act as trustee until the provisions of paragraph date on which the substitute Trustee executes the documentation described in section (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. (b) If Subject to the consent of the Settlors’ Representative (which consent cannot be unreasonably denied or withheld), the First Beneficiary shall be authorized to remove the Trustee, upon written notice to the Trustee at least 30 (thirty) days prior to the removal date, and shall be entitled to appoint another credit institution to act as substitute trustee. In the event the First Beneficiary issues a Concurso Notice, the First Beneficiary shall be authorized to remove the Trustee in accordance with the provisions of this Clause, in which case the consent of the Settlors’ Representative shall not be required. (c) The substitute trustee shall consent in writing to its designation as trustee hereunder to the resigning or removed Trustee, the Settlors’ Representative and the First Beneficiary, which consent shall be evidenced by a trustee substitution agreement executed for such purposes. Immediately thereafter, the resigning or removed Trustee shall transfer all assets in its possession, in its capacity as Trustee, pursuant this Agreement to the substitute trustee, and only then shall the resignation or removal of the Trustee shall cease to act as become effective, in which case the substitute trustee under this Agreementshall assume all rights, due to an anticipated authorities and obligations of the Trustee hereunder and perform its duties hereunder in such capacity. (d) Upon termination of its duties appointment, whether in accordance with paragraph (a) above virtue of resignation or upon the occurrence of the Termination Dateremoval, the Trustee shall prepare account statements and accounts related to a report on the Trust Assets, Assets since the date of the latest delivered report in accordance with this Agreement until the date on which shall be delivered within thirty (30) calendar days following such termination to the Settlors and the Beneficiaryresignation or removal becomes effective. The Settlors and the Beneficiary Parties shall have thirty (30) calendar days to examine review such report and object to request any clarifications deemed appropriate. Upon expiration of such account statements and accounts, counted from the date of receipt thereof; after such period shall have expiredterm, the financial statements and accounts report shall be deemed as approved by the Settlors and the Beneficiary, unless mistakes or any errors or omissions shall not be evidentif no remarks are made in respect thereof. (c) The Beneficiary shall be entitled to appoint any successor Trustee, provided that, so long as no Enforcement Event shall have occurred and be continuing, the Settlors shall have the right to consent to any such appointment, within fifteen (15) calendar days following the date the representative of the Settlors shall have received notice of such appointment, consent which may not be unreasonably withheld and which shall be deemed given if the Settlors do not object to such appointment in a timely manner. (d) The Trustee shall not cease to be the trustee hereunder until the successor trustee is appointed pursuant to the terms set forth herein, such successor trustee has accepted its designation, and the Trust Assets have been duly transferred to the successor trustee. (e) Any successor trustee shall have the same rights and obligations as the Trustee hereunder, and shall be deemed the “Trustee” for all purposes of this Agreement.

Substitution of the Trustee. (a) Subject to the provisions of paragraphs (c) and (d) below, the Trustee may resign terminate E-213 its position performance as trustee according to this Trust through a trustee hereunder, by giving written notice to MAXCOM and to the Settlors and the Beneficiary CPO Holders at least sixty 60 (60sixty) 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 initiatedadvance. Subject to the provisions of paragraph (c) below, the appointment Trustee may be removed through a written notice by the Common Representative that has the approval from the Majority of the Trustee may also be terminatedCPO Holders, by means of a notice in writing given by the Beneficiary, issued at least thirty 30 (30thirty) calendar days in advance.; (b) If the Trustee shall cease to act stops performing as trustee under according to this Agreement, due Trust Agreement because of an advance termination according to an anticipated termination of its duties in accordance with paragraph (a) above or upon the occurrence of the Termination Dateabove, the Trustee shall prepare account statements statements, balance sheets and accounts related to regarding the Trust AssetsCorpus, which shall must be delivered to each party to this Trust Agreement within thirty the first 15 (30fifteen) calendar days following such after the termination to the Settlors occurs. It shall be understood that MAXCOM and the Beneficiary. The Settlors and the Beneficiary CPO Holders, through their Common Representative, shall have thirty 15 (30fifteen) calendar working days to examine and object to such account statements financial statements, balance sheets and accounts, counted from the date of receipt thereofonce they have been received; after such once said period shall have expiredhas elapsed, the financial statements statements, balance sheets and accounts shall be deemed as approved by the Settlors MAXCOM and the Beneficiary, unless mistakes or any errors or omissions shall not be evident.CPO Holders; (c) The Beneficiary MAXCOM shall be entitled to appoint any successor Trustee, provided that, so long as no Enforcement Event shall have occurred and be continuing, substitute trustee with the Settlors shall have the right to consent to any such appointment, within fifteen (15) calendar days following the date the representative unanimous approval of the Settlors shall have received notice members of such appointment, consent which may not be unreasonably withheld and which shall be deemed given if the Settlors do not object to such appointment in a timely manner.Technical Committee; (d) The Notwithstanding the foregoing, the Trustee shall not cease continue to be the perform as trustee hereunder according to this Trust Agreement until the successor a substitute trustee is has been appointed pursuant to the terms set forth herein, and such successor substitute trustee has accepted its the designation, and the Trust Assets have been duly transferred to the successor trustee.; and (e) Any successor The substitute trustee shall have the same rights and obligations as the Trustee hereunder, under this Trust Agreement and shall be deemed considered as the “"Trustee” " for all the purposes of provided for in this Trust Agreement.

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. (b) If the Trustee shall cease ceases to act as trustee under this Agreement, due to an anticipated termination of its duties in accordance with paragraph (a) above or upon the occurrence of the Termination Date, the Trustee shall prepare account statements and accounts related to the Trust Assets, which shall be delivered within thirty (30) calendar days following such termination to the Settlors and the Beneficiary. The Settlors and the Beneficiary shall have thirty (30) calendar days to examine and object to such account statements and accounts, counted from the date of receipt thereof; after such period shall have expired, the financial statements and accounts shall be deemed as approved by the Settlors and the Beneficiary, unless mistakes or any errors or omissions shall not be evident. (c) The Beneficiary shall be entitled to appoint any successor Trustee, provided that, so long as no Enforcement Event shall have has occurred and be is continuing, the Settlors shall have the right to consent to any such appointment, within fifteen (15) calendar days following the date the representative of the Settlors shall have received notice of such appointment, consent which may not be unreasonably withheld and which shall be deemed given if the Settlors do not object to such appointment in a timely manner. (d) The Trustee shall not cease to be the trustee hereunder until the successor trustee is appointed pursuant to the terms set forth herein, such successor trustee has accepted its designation, and the Trust Assets have been duly transferred to the successor trustee. (e) Any successor trustee shall have the same rights and obligations as the Trustee hereunder, and shall be deemed the “Trustee” for all purposes of this Agreement.

Substitution of the Trustee. (a) Subject to the provisions of paragraphs (c) and (d) ), below, the Trustee may resign terminate its position a trustee hereunderservice as such pursuant hereto, by giving written notice to the Settlors Trustors and the Trust Beneficiary in the First Instance, at least sixty 60 (60sixty) 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 initiatedadvance. Subject to the provisions of paragraph (c) ), below, the Trustee’s appointment of the Trustee may also be terminated, terminated by means of a written notice in writing given by the Beneficiary, Trust Beneficiary in the First Instance at least thirty 10 (30ten) calendar days in advance. (b) If the Trustee shall cease ceases to act as trustee under such pursuant to this Trust Agreement, due to an anticipated its termination of its duties in advance in accordance with paragraph (a) above or upon the occurrence of the Termination Date), above, the Trustee shall prepare account statements draw up financial statements, balance sheets, and accounts related relating to the Trust Assets, which shall must be delivered within thirty the 30 (30thirty) calendar days following such the date on which said termination to the Settlors occurs. The Trustors and the Beneficiary. The Settlors and Trust Beneficiary in the Beneficiary First Instance shall have thirty 15 (30fifteen) calendar days to examine and object to such account statements and accounts, counted from the date of receipt thereofthereof in which to examine them and object thereto; after such period shall if they have expirednot sent the Trustee their remarks or objections by the expiration of said period, the aforementioned financial statements statements, balance sheets, and accounts shall be deemed as to have been approved by the Settlors Trustors and the Beneficiary, unless mistakes or any errors or omissions shall not be evidentTrust Beneficiary in the First Instance. (c) The Trustors and the Trust Beneficiary in the First Instance shall be entitled to appoint any successor Trustee, provided that, so long as no Enforcement Event shall have occurred and be continuing, the Settlors shall have the right to consent to any such appointment, within fifteen (15) calendar days following the date the representative of the Settlors shall have received notice of such appointment, consent which may not be unreasonably withheld and which shall be deemed given if the Settlors do not object to such appointment in designate a timely mannersubstitute trustee by common agreement. (d) The Notwithstanding the foregoing, the Trustee shall not cease continue to be the trustee hereunder until the successor trustee is appointed act as such pursuant to the terms set forth herein, Trust Agreement until such successor time as the substitute trustee has been designated and said substitute trustee has accepted its the designation, and the Trust Assets have been duly transferred to the successor trustee. (e) Any successor . The substitute trustee shall have the same rights and obligations as the Trustee hereunderhas pursuant to this Agreement, and all the references to the Trustee shall be deemed apply to any substitute trustee for the “Trustee” for all intents and purposes of this Trust Agreement.