Common use of Substitution of Trustee Clause in Contracts

Substitution of Trustee. From time to time, Beneficiary may substitute a successor to any Trustee named in or acting under this Deed of Trust in any manner now or later to be provided at law, or by a written instrument executed and acknowledged by Beneficiary and recorded in the office of the recorder of the county where the Property is situated. Any such instrument shall be conclusive proof of the proper substitution of the successor Trustee, who shall automatically upon recordation of the instrument succeed to all estate, title, rights, powers and duties of the predecessor Trustee, without conveyance from it.

Appears in 4 contracts

Samples: Deed of Trust (Lifeloc Technologies, Inc), Standing Loan Agreement (Prolong International Corp), Bridge Loan Agreement (Prolong International Corp)

AutoNDA by SimpleDocs

Substitution of Trustee. From time to time, Beneficiary may substitute a successor to any Trustee named in or acting under this Deed of Trust in any manner now or later to be provided at law, or by a written instrument executed and acknowledged by Beneficiary and recorded in the office office(s) of the recorder recorder(s) of the county or counties where the Property is Land and Improvements are situated. Any such instrument shall be is conclusive proof of the proper substitution of the successor Trustee, who shall will automatically upon recordation of the instrument succeed to all estate, title, rights, powers and duties of the predecessor Trustee, without conveyance from it.

Appears in 2 contracts

Samples: Deed of Trust (Cost Plus Inc/Ca/), Deed of Trust (Oakley Inc)

Substitution of Trustee. From time to time, the Beneficiary may substitute a successor to any Trustee named in or acting under this Deed of Trust in any manner now or later to be provided at law, or by a written instrument executed and acknowledged by the Beneficiary and recorded in the office of the recorder of the any county where any of the Property is situated. Any such instrument shall be conclusive proof of the proper substitution of the successor Trustee, who shall automatically upon recordation of the instrument succeed to all estate, title, rights, powers powers, and duties of the predecessor Trustee, without conveyance from it.

Appears in 1 contract

Samples: Deed of Trust (Pacific Lumber Co /De/)

Substitution of Trustee. From time to time, Beneficiary may substitute a successor to any Trustee named in or acting under this Deed of Trust in any manner now or later to be provided at law, or by a written instrument executed and acknowledged by Beneficiary and recorded in the office office(s) of the recorder recorder(s) of the county or counties where the Property is Land and the Improvements are situated. Any such instrument shall be conclusive proof of the proper substitution of the successor Trustee, who shall automatically upon recordation of the instrument succeed to all estate, title, rights, powers and duties of the predecessor Trustee, without conveyance from it.

Appears in 1 contract

Samples: Deed of Trust

AutoNDA by SimpleDocs

Substitution of Trustee. From time to time, Beneficiary may substitute a successor to any Trustee named in or acting under this Deed of Trust in any manner now or later to be provided at law, or by a written instrument executed and acknowledged by Beneficiary and recorded in the office office(s) of the recorder recorder(s) of the county where the Property is situatedCity. Any such instrument shall be conclusive proof of the proper substitution of the successor Trustee, who shall automatically upon recordation of the instrument succeed to all estate, title, rights, powers and duties of the predecessor Trustee, without conveyance from it.

Appears in 1 contract

Samples: Credit Agreement (Pinnacle Entertainment Inc)

Substitution of Trustee. From time to time, Beneficiary may ----------------------- substitute a successor to any Trustee named in or acting under this Deed of Trust in any manner now or later to be provided at law, or by a written instrument executed and acknowledged by Beneficiary and recorded in the office of the recorder of the county where the Property is situatedXxxxx County Recorder. Any such instrument shall be conclusive proof of the proper substitution of the successor Trustee, who shall shall, automatically upon recordation of the instrument instrument, succeed to all estate, title, rights, powers and duties of the predecessor Trustee, Trustee without conveyance from it.

Appears in 1 contract

Samples: Construction Deed of Trust (Coast Hotels & Casinos Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!