Termination of Trustee. Grantors may remove Trustee upon sixty (60) days notice or upon such shorter period of time if acceptable to Trustee; provided that upon a Preliminary CIC or subsequent Change in Control the Grantors may only remove the Trustee if a majority of the Beneficiaries approve such action. 11.
Appears in 3 contracts
Samples: Deferred Stock Trust Agreement (Savannah Electric & Power Co), Compensation Trust Agreement (Savannah Electric & Power Co), Compensation Trust Agreement (Savannah Electric & Power Co)
Termination of Trustee. Grantors may remove Trustee upon sixty (60) days notice or upon such shorter period of time if acceptable to Trustee; provided that upon a Preliminary CIC or subsequent Change in Control the Grantors may only remove the Trustee if a majority of the Beneficiaries approve such action. 11.
Appears in 2 contracts
Samples: Compensation Trust Agreement (Gulf Power Co), Compensation Trust Agreement (Southern Power Co)
Termination of Trustee. Grantors Grantor may remove Trustee upon sixty (60) days notice or upon such shorter period of time if acceptable to Trustee; provided that upon a Preliminary CIC involving the Company or subsequent Company Change in Control the Grantors Grantor may only remove the Trustee if a majority of the Beneficiaries approve such action. 11.
Appears in 1 contract
Samples: Deferred Stock Trust Agreement (Banctrust Financial Group Inc)
Termination of Trustee. Grantors Grantor may remove Trustee upon sixty (60) days notice or upon such shorter period of time if acceptable to Trustee; provided that upon a Preliminary CIC or subsequent Change in Control the Grantors may only remove the Trustee if a majority of the Beneficiaries approve such action. 11.
Appears in 1 contract
Samples: Deferred Stock Trust Agreement (Banctrust Financial Group Inc)
