Common use of Successor Trustee or Delaware Trustee Clause in Contracts

Successor Trustee or Delaware Trustee. Any successor Trustee or Delaware Trustee, as applicable, appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Trustee or Delaware Trustee, as applicable, an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Trustee or Delaware Trustee, as applicable, shall become effective and such successor Trustee or Delaware Trustee, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Trustee or Delaware Trustee, as applicable. The predecessor Trustee shall upon payment of its fees and expenses deliver to the successor Trustee or Delaware Trustee, as applicable, all documents, statements, moneys and properties held by it under this Agreement; and the Administrator and the predecessor Trustee or Delaware Trustee, as applicable, shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Trustee or Delaware Trustee, as applicable, all such rights, powers, duties and obligations. No successor Trustee or Delaware Trustee, as applicable, shall accept such appointment as provided in this Section unless at the time of such acceptance such successor Trustee or Delaware Trustee, as applicable, shall be eligible pursuant to Section 10.01. Upon acceptance of appointment by a successor Trustee or Delaware Trustee, as applicable, pursuant to this Section, the Administrator shall mail notice of the successor of such Trustee or Delaware Trustee, as applicable, to the holder of the Excess Distribution Certificate, the Indenture Trustee, the Noteholders, the Rating Agencies and a Swap Counterparty. If the Administrator shall fail to mail such notice within 10 days after acceptance of appointment by the successor Trustee or Delaware Trustee, as applicable, the successor Trustee or Delaware Trustee, as applicable, shall cause such notice to be mailed at the expense of the Administrator.

Successor Trustee or Delaware Trustee. Any successor Trustee or Delaware Trustee, as applicable, appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Trustee or Delaware Trustee, as applicable, an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Trustee or Delaware Trustee, as applicable, shall become effective and such successor Trustee or Delaware Trustee, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Trustee or Delaware Trustee, as applicable. The predecessor Trustee shall upon payment of its fees and expenses deliver to the successor Trustee or Delaware Trustee, as applicable, all documents, statements, moneys and properties held by it under this Agreement; Agreement; and the Administrator and the predecessor Trustee or Delaware Trustee, as applicable, shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Trustee or Delaware Trustee, as applicable, all such rights, powers, duties and obligations. No successor Trustee or Delaware Trustee, as applicable, shall accept such appointment as provided in this Section unless at the time of such acceptance such successor Trustee or Delaware Trustee, as applicable, shall be eligible pursuant to Section 10.01. Upon acceptance of appointment by a successor Trustee or Delaware Trustee, as applicable, pursuant to this Section, the Administrator shall mail notice of the successor of such Trustee or Delaware Trustee, as applicable, to the holder of the Excess Distribution Certificate, the Indenture Trustee, the Noteholders, the Rating Agencies and a Swap Counterparty. If the Administrator shall fail to mail such notice within 10 days after acceptance of appointment by the successor Trustee or Delaware Trustee, as applicable, the successor Trustee or Delaware Trustee, as applicable, shall cause such notice to be mailed at the expense of the Administrator.

Successor Trustee or Delaware Trustee. Any successor Trustee or Delaware Trustee, as applicable, appointed pursuant to this Section 10.02 9.3 shall execute, acknowledge and deliver to the Administrator and to its predecessor Trustee or Delaware Trustee, as applicable, an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Trustee or Delaware Trustee, as applicable, shall become effective and such successor Trustee or Delaware Trustee, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as the trustee. The predecessor Trustee or Delaware Trustee, as applicable. The predecessor Trustee , shall upon payment of its fees and expenses deliver to the successor Trustee or Delaware Trustee, as applicable, Trustee all documents, statements, moneys documents and properties statements and monies held by it under this Agreement; Agreement; and the Administrator and the predecessor Trustee or Delaware Trustee, as applicable, shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Trustee or Delaware Trustee, as applicable, Trustee all such rights, powers, duties and obligations. No successor Trustee or Delaware Trustee, as applicable, trustee shall accept such appointment as provided in this Section unless at the time of such acceptance such successor Trustee or Delaware Trustee, as applicable, trustee shall be eligible pursuant to Section 10.019.1. Upon acceptance of appointment by a successor Trustee or Delaware Trustee, as applicable, trustee pursuant to this Section, the Administrator shall mail notice of the successor of such Trustee or Delaware Trustee, as applicable, appointment to the holder of the Excess Distribution CertificateHolders, the Indenture Trustee, the Noteholders, Noteholders and the Rating Agencies and a Swap CounterpartyAgencies. If the Administrator shall fail to mail such notice within 10 days after acceptance of appointment by the successor Trustee or Delaware Trustee, as applicabletrustee, the successor Trustee or Delaware Trustee, as applicable, trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Delaware Trustee appointed pursuant to this Section 9.3 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and the principal place of business of such successor Delaware Trustee in the State of Delaware.

Successor Trustee or Delaware Trustee. Any successor Trustee or Delaware Trustee, as applicable, appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Trustee or Delaware Trustee, as applicable, an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Trustee or Delaware Trustee, as applicable, shall become effective and such successor Trustee or Delaware Trustee, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Trustee or Delaware Trustee, as applicable. The predecessor Trustee or Delaware Trustee, as applicable, shall upon payment to it of its fees and expenses deliver to the successor Trustee or Delaware Trustee, as applicable, all documents, statements, moneys and properties held by it under this Agreement; Agreement; and the Administrator and the predecessor Trustee or Delaware Trustee, as applicable, shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Trustee or Delaware Trustee, as applicable, all such rights, powers, duties and obligations. No successor Trustee or Delaware Trustee, as applicable, shall accept such appointment as provided in this Section unless unless, at the time of such acceptance acceptance, such successor Trustee or Delaware Trustee, as applicable, shall be eligible pursuant to Section 10.01. Upon acceptance of appointment by a successor Trustee or Delaware Trustee, as applicable, pursuant to this Section, the Administrator shall mail notice of the successor of such Trustee or Delaware Trustee, as applicable, to the holder of EDC Holder and the Excess Distribution Certificate, the Indenture Trustee, the Noteholders, the Rating Agencies and a Swap CounterpartyAdministrative Agent. If the Administrator shall fail to mail such notice within 10 ten days after acceptance of appointment by the successor Trustee or Delaware Trustee, as applicable, the successor Trustee or Delaware Trustee, as applicable, shall cause such notice to be mailed at the expense of the Administrator. 99724359 Nelnet-RBC Amended and Restated Trust Agreement Any successor Delaware Trustee appointed pursuant to this Section 10.03 shall promptly file an amendment to the certificate of trust with the Secretary of State identifying the name and principal place of business of such successor Delaware Trustee in the State of Delaware.

Successor Trustee or Delaware Trustee. Any successor Trustee or Delaware Trustee, as applicable, appointed pursuant to Section 10.02 hereof shall execute, acknowledge and deliver to the Administrator Depositor and to its predecessor Trustee or Delaware Trustee, as applicable, an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Trustee or Delaware Trustee, as applicable, shall become effective and such successor Trustee or Delaware Trustee, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Trustee or Delaware Trustee, as applicable. The predecessor Trustee or Delaware Trustee, as applicable, shall upon payment to it of its fees and expenses deliver to the successor Trustee or Delaware Trustee, as applicable, all documents, statements, moneys and properties held by it under this Agreement; Agreement; and the Administrator Depositor and the predecessor Trustee or Delaware Trustee, as applicable, shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Trustee or Delaware Trustee, as applicable, all such rights, powers, duties and obligations. No successor Trustee or Delaware Trustee, as applicable, shall accept such appointment as provided in this Section unless unless, at the time of such acceptance acceptance, such successor Trustee or Delaware Trustee, as applicable, shall be eligible pursuant to Section 10.0110.01 hereof. Upon acceptance of appointment by a successor Trustee or Delaware Trustee, as applicable, pursuant to this Section, the Administrator Depositor shall mail notice of the successor of such Trustee or Delaware Trustee, as applicable, to the holder of Certificateholder and the Excess Distribution Certificate, the Indenture Trustee, the Noteholders, the Rating Agencies and a Swap CounterpartyAdministrative Agent. If the Administrator Depositor shall fail to mail such notice within 10 ten days after acceptance of appointment by the successor Trustee or Delaware Trustee, as applicable, the successor Trustee or Delaware Trustee, as applicable, shall cause such notice to be mailed at the expense of the AdministratorDepositor. Any successor Delaware Trustee appointed pursuant to this Section shall promptly file an amendment to the certificate of trust with the Secretary of State identifying the name and principal place of business of such successor Delaware Trustee in the State of Delaware.

Successor Trustee or Delaware Trustee. Any successor Trustee or Delaware Trustee, as applicable, appointed pursuant to as provided in Section 10.02 6.08 shall execute, acknowledge and deliver to the Administrator Servicer and to its predecessor Trustee or Delaware Trustee, as applicable, an instrument accepting such appointment under this AgreementMaster Trust Agreement and each outstanding SUBI Supplement and relevant Transaction Document, and thereupon the resignation or removal of the predecessor Trustee or Delaware Trustee, as applicable, shall become effective and such successor Trustee or Delaware Trustee, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its the predecessor Trustee or Delaware Trustee, as applicable, under this AgreementMaster Trust Agreement and each outstanding SUBI Supplement and relevant Transaction Document, with like effect as if originally named as Trustee or Delaware Trustee, as applicable. The predecessor Trustee or Delaware Trustee, as applicable, shall upon payment of its fees and expenses deliver to the successor Trustee or Delaware Trustee, as applicable, all documents, statements, moneys documents and properties statements held by it under this Agreement; Master Trust Agreement, and the Administrator Servicer, and the predecessor Trustee or Delaware Trustee, as applicable, shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Trustee or Delaware Trustee, as applicable, applicable all such rights, powers, duties and obligations. No successor Trustee or Delaware Trustee, as applicable, shall accept such appointment as provided in this Section unless at the time of such acceptance such successor Trustee or Delaware Trustee, as applicable, shall be eligible pursuant to under the provisions of Section 10.016.07 or Section 2.05, as applicable. Upon acceptance of appointment by a successor Trustee or Delaware Trustee, as applicable, pursuant to as provided in this Section, the Administrator Servicer shall mail notice of the successor of such Trustee or Delaware Trustee, as applicable, appointment to the holder of the Excess Distribution Certificate, the Indenture Trustee, the Noteholders, the Rating Agencies and a Swap Counterpartyeach Certificate Holder. If the Administrator shall fail Servicer fails to mail such notice within 10 ten days after acceptance of appointment by the successor Trustee or Delaware Trustee, as applicable, the successor Trustee or Delaware Trustee, as applicable, shall cause such notice to be mailed at the expense of the AdministratorServicer. Any successor Delaware Trustee appointed hereunder shall promptly file with the Delaware Secretary of State an amendment to the Certificate of Trust identifying the name and principal place of business of such successor Delaware Trustee in the State of Delaware. Neither the predecessor Trustee nor the predecessor Delaware Trustee, in any capacity, have any liability for the acts or omissions of the successor Trustee or successor Delaware Trustee, respectively.