Termination of Custodian. The Custodian can be terminated at the discretion of the counsel with or without reason. Although, a replacement will have to be voted in for the existing Custodian to be replaced as certain functions performed by the Custodian cannot be managed solely by the Counsel. In the case of termination, the Custodian must:
(a) Liquidate existing holdings
(b) Transfer the entirety of the capital to the newly appointed Custodian
(c) Transfer control of all administrative accounts and repositories to the newly appointed Custodian, including, but not limited to, the Fund’s information repository/ies and the website.
Termination of Custodian. Custodian may terminate its obligations under this Agreement upon at least 120 days' prior notice to the Borrowers and the Lender. In the event of such termination, the Lender shall appoint a successor Custodian, subject to approval by the Borrowers. The payment of such successor Custodian's fees and expenses shall be solely the responsibility of the Borrowers in accordance with Section 5.3 hereof. Upon such appointment, Custodian shall promptly transfer to the successor Custodian, as directed, all Receivable Files and all funds in the Settlement Accounts and any other accounts in connection with this Agreement and all related documents being administered under this Agreement. If the endorsements on the Receivables have been completed in the name of Custodian, Custodian shall execute such endorsements on the Receivables as the Lender shall request. In the event of any such appointment the Borrowers shall be responsible for the fees and reasonable expenses of the existing and successor Custodian in accordance with Section 5.3 hereof.
Termination of Custodian. Custodian may terminate its ------------------------ obligations under this Agreement upon at least 120 days' prior notice to Servicer, Seller and Buyer. In the event of such termination, Buyer shall appoint a successor Custodian. Upon such appointment, Custodian shall promptly transfer to the successor Custodian, as directed, all Custodian's Contract Files and all funds in the Contract Account and any other accounts in connection with this Agreement and all related documents being administered under this Agreement. The termination of the Custodian pursuant to this Section 6.10 hereof shall not become effective until a successor custodian has been appointed pursuant to this Section 6.10. The payment of such successor Custodian's fees and expenses shall be solely the responsibility of Seller in accordance with Section 6.3 hereof. If the endorsements on the Contracts have been completed in the name of Custodian, Custodian shall execute such endorsements on the Contracts as Buyer shall request.
Termination of Custodian. 10 Section 21.
Termination of Custodian. The Custodian may terminate its obligations under this Agreement upon at least 45 days' notice to the Company, the Servicer and the Purchaser. In the event of such termination, the Purchaser shall appoint a successor Custodian which successor Custodian shall deliver all previously issued Trust Receipts and Final Certifications to the predecessor Custodian which were not previously delivered to the predecessor Custodian. The payment of such successor Custodian's fees and expenses shall be solely the responsibility of the Company. Upon such appointment, the Custodian shall promptly transfer to the successor Custodian, as directed, all Custodial Files being administered under this Agreement, and shall assign the Mortgages and endorse the Mortgage Notes to the successor Custodian, if the endorsements on the Mortgage Notes and the Assignments of Mortgage have been completed in the name of the Custodian, or as otherwise directed by the Purchaser.
Termination of Custodian. The Issuer may terminate the ------------------------ Custodian hereunder in the event that any representation, warranty or statement of the Custodian made in this Agreement or in the Insurance Agreement by the Custodian in such capacity in any certificate, report or other writing delivered pursuant hereto shall prove to be incorrect in any material respect as of the time when the same shall have been made.
Termination of Custodian. (a) The Noteholders may, without cause, request that the Custodian be replaced with a successor custodian. Upon receipt of written directions from the Noteholders that the Noteholders desire to replace the Custodian with a successor custodian, the Trustee shall promptly notify the Custodian that all its rights and obligations under this Indenture are terminated and immediately appoint the successor custodian as Custodian.
(b) Upon receipt of such notice, the Custodian will take such actions as are necessary to best facilitate the transition of the performance of the Custodian's activities to the successor Custodian, and the Borrower and the Custodian shall assist the successor custodian to assume and perform the duties of the Custodian hereunder (including, without limitation, the immediate delivery of all Receivable Documents and Receivable Files to the successor custodian).
Termination of Custodian. 44 ARTICLE XVI MISCELLANEOUS.....................................................45
Termination of Custodian. (a) The Agent may, without cause, request that the Custodian be replaced with a successor custodian. Upon receipt of written directions from the Purchasers that the Purchasers desire to remove the Custodian, the Agent shall promptly notify the Custodian that all its rights and obligations under this Agreement are terminated and the Seller, with the consent of the Required Financial Institutions, shall immediately appoint the successor custodian as Custodian.
(b) Upon receipt of such notice, the Custodian will take such actions as are necessary to best facilitate the transition of the performance of the Custodian's activities to the successor Custodian, and the Seller and the Custodian shall assist the successor custodian to assume and perform the duties of the Custodian hereunder (including the immediate delivery of all Receivable Documents to the successor custodian).
Termination of Custodian. Custodian may resign or terminate its obligations under this Custodial Agreement upon at least sixty (60) days’ prior written notice to Issuer, Deal Agent and Indenture Trustee. In the event of such termination or resignation, Indenture Trustee shall appoint a successor custodian, such appointment to occur in no event later than 60 days after Indenture Trustee’s receipt of Custodian’s notice of resignation or termination. Such successor custodian shall accept such appointment by executing and delivering a written instrument similar in form and substance to this Custodial Agreement and satisfactory to Deal Agent, which such instrument shall be acknowledged by Issuer, Indenture Trustee and Servicer. Upon such acceptance, Custodian shall promptly transfer to the successor custodian, as directed by Indenture Trustee and at the expense of Issuer, all of the Deliverables, any Deliverable Package, any Collateral Files and the collateral contained therein and Possessory Collateral then in, or in the case of Subsequent Deliverables thereafter coming into, Custodian’s actual possession. The termination or resignation of Custodian pursuant to this Section XII shall not become effective until a successor custodian has accepted its appointment pursuant to this Section XII, and the Custodian’s obligations hereunder shall survive until the successor custodian has confirmed in writing to the Indenture Trustee, Deal Agent, Servicer, Issuer and Custodian that each Deliverable in Custodian’s actual possession on the date of its notice of termination or resignation, as the case may be, is in the successor custodian’s actual possession (provided that the acceptance thereof, shall have occurred within 120 days following the appointment of the successor custodian). The payment of such successor custodian’s fees and expenses shall be solely the responsibility of Issuer.
