Common use of Successor Grantor Trust Trustee Clause in Contracts

Successor Grantor Trust Trustee. (a) Any successor Grantor Trust Trustee appointed as provided in Section 5.07 shall execute, acknowledge and deliver to the Depositor, the Grantor Trust Certificateholders and to its predecessor Grantor Trust Trustee an instrument accepting such appointment hereunder. The resignation or removal of the predecessor Grantor Trust Trustee shall then become effective and such successor Grantor Trust Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as Grantor Trust Trustee o herein. The predecessor Grantor Trust Trustee shall after payment of its outstanding fees and expenses promptly deliver to the successor Grantor Trust Trustee the Underlying Securities and related documents and statements held by it hereunder, and the Depositor and the predecessor Grantor Trust Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor Grantor Trust Trustee all such rights, powers, duties and obligations.

Successor Grantor Trust Trustee. (a) Any successor Grantor Trust Trustee appointed as provided in pursuant to Section 5.07 11.2 or Section 11.3 shall execute, acknowledge and deliver to the DepositorGrantor, the Grantor Trust Certificateholders Owners and to its Holders and the corresponding predecessor Grantor Trust Trustee an instrument accepting such appointment hereunder. The under this Deed, and thereupon the resignation or removal of the predecessor Grantor Trust Trustee shall then become effective and such successor Grantor Trust Trustee, Trustee without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor hereunderunder this Deed, with like effect as if originally named as the Grantor Trust Trustee o hereinTrustee. The predecessor Grantor Trust Trustee shall after shall, upon payment of its outstanding fees and expenses promptly expenses, deliver to the its corresponding successor Grantor Trust Trustee the Underlying Securities and related all documents and statements and monies held by it hereunder, and the Depositor and the under this Deed. The predecessor Grantor Trust Trustee and the Grantor and the Owners and Holders shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor Grantor Trust Trustee all such rights, powers, duties duties, and obligations.