Common use of Transfer of Rights and Property to Successor Trustee Clause in Contracts

Transfer of Rights and Property to Successor Trustee. Any successor Trustee appointed under this Indenture shall execute, acknowledge and deliver to its predecessor Trustee and to the Issuer an instrument accepting such appointment as a fiduciary for the Owners, and thereupon such successor Trustee, without any further act, deed or conveyance, shall become fully vested with all moneys, estates, properties, rights, powers, duties and obligations of such predecessor Trustee, with like effect as if originally named as Trustee, but the Trustee ceasing to act shall transfer each Credit Enhancement to its successor Trustee and shall, on the request of the Issuer or the successor Trustee, execute, acknowledge and deliver such instruments of conveyance and further assurance and do such other things as may reasonably be required for more fully and certainly vesting and confirming in such successor Trustee all the right, title and interest of the predecessor Trustee in and to any property held by it under this Indenture, and shall pay over, assign and deliver to the successor Trustee any money or other property subject to the trusts and conditions herein set forth. Should any deed, conveyance or instrument in writing from the Issuer be required by such successor Trustee for more fully and certainly vesting in and confirming to such successor Trustee any such estates, rights, powers and duties, any and all such deeds, conveyances and instruments shall, on request and so far as may be authorized by law, be executed, acknowledged and delivered by the Issuer. Upon the effectiveness of the resignation or removal of the Trustee, such Trustee’s authority to act pursuant to this Indenture shall terminate and such Trustee shall have no further responsibility or liability whatsoever as Trustee for performance of this Indenture.

Transfer of Rights and Property to Successor Trustee. Any successor Trustee appointed under this Indenture Agreement shall execute, acknowledge acknowledge, and deliver to its predecessor Trustee Trustee, and also to the Issuer Lessee and Government, an instrument in writing accepting such appointment as a fiduciary for the Ownersappointment, and thereupon such successor Trustee, without any further act, deed deed, or conveyance, shall become fully vested with all moneys, estates, properties, rights, powers, trusts, remedies, immunities, privileges, duties and obligations of such its predecessor Trustee, with like effect as if originally named as Trustee, but the . The Trustee ceasing to act shall transfer each Credit Enhancement to its successor Trustee and shallact, on the written request of the Issuer Lessee, Government or the successor Trustee, shall execute, acknowledge and deliver such instruments of conveyance and further assurance and do such other things as reasonably may reasonably be required for more fully and certainly vesting and confirming in such successor Trustee all the right, title and interest of the predecessor Trustee in and to any property held by it under this IndentureAgreement, and every predecessor Trustee shall pay over, assign and deliver to the successor Trustee any money or other property subject to the trusts and conditions herein set forthforth in or pursuant to this Agreement. Should the successor trustee require any deed, conveyance or instrument in writing from the Issuer Lessee be required by such successor Trustee for to more fully and certainly vesting vest in and confirming confirm to such successor Trustee any such estates, trusts, rights, powers obligations, remedies, immunities, privileges, rights, powers, and duties, the Lessee shall execute and deliver any and all such deeds, conveyances and instruments shallinstruments. Notwithstanding anything contained elsewhere in this Agreement, on request any such predecessor Trustee shall not be entitled to any compensation or reimbursement for costs and so far as may expenses incurred in connection with any transfer or rights or properties under this Agreement, except for such costs and expenses incurred with the prior written consent of the Lessee; provided, however, if an Event of Default has occurred and is continuing, then any such compensation or reimbursement for costs and expenses shall be authorized by law, be executed, acknowledged and delivered approved by the Issuer. Upon the effectiveness of the resignation or removal of the Trustee, such Trustee’s authority to act pursuant to this Indenture shall terminate and such Trustee shall have no further responsibility or liability whatsoever as Trustee for performance of this IndentureGovernment.

Transfer of Rights and Property to Successor Trustee. Any successor Trustee appointed under this Indenture shall execute, acknowledge and deliver to its predecessor Trustee Trustee, and also to the Issuer Agency, an instrument accepting such appointment as a fiduciary for the Ownersappointment, and thereupon such successor Trustee, without any further act, deed or conveyance, shall become fully vested with all moneysmonies, estates, properties, rights, powers, duties and obligations of such predecessor Trustee, with like effect as if originally named as Trustee, but the Trustee ceasing to act shall transfer each Credit Enhancement to its successor Trustee and shallnevertheless, on the request of the Issuer Agency, or the of its successor Trustee, execute, acknowledge and deliver such instruments of conveyance and further assurance and do such other things as may reasonably be required for more fully and certainly vesting and confirming in such successor Trustee all the right, title and interest of the predecessor Trustee in and to any property held by it under this Indenture, and shall pay over, assign and deliver to the successor Trustee any money or other property subject to the trusts and conditions herein set forth. Should any deed, conveyance or instrument in writing from the Issuer Agency be required by such successor Trustee for more fully and certainly vesting in and confirming to such successor Trustee any such estates, rights, powers and duties, any and all such deeds, conveyances and instruments in writing shall, on request request, and so far as may be authorized by law, be executed, acknowledged and delivered by the IssuerAgency. Upon the effectiveness of the resignation or removal of the Trustee, such Trustee’s authority to act pursuant to this Indenture shall terminate and such Trustee shall have no further responsibility or liability whatsoever as Trustee for performance of this Indenture.Indenture as Trustee.‌

Transfer of Rights and Property to Successor Trustee. Any successor Trustee appointed under this Indenture Trust Agreement shall execute, acknowledge and deliver to its predecessor Trustee and also to the Issuer Issuer, an instrument accepting such appointment appointment, as a fiduciary for the Note Owners, and thereupon such successor Trustee, without any further act, deed or conveyance, conveyance shall become fully vested with all moneys, estates, properties, estates properties rights, powers, duties and obligations of such predecessor Trustee, with like effect as if originally named as Trustee, Trustee but the Trustee ceasing to act shall transfer each Credit Enhancement to its successor Trustee and shall, nevertheless on the request of the Issuer Issuer, or the of its successor Trustee, execute, Trustee execute acknowledge and deliver such instruments of conveyance and further assurance and do such other things as may reasonably be required for more fully and certainly vesting and confirming in such successor Trustee all the right, right title and interest of the predecessor Trustee in and to any property held by it under this Indenture, Trust Agreement and shall pay over, over assign and deliver to the successor Trustee any money or other property subject to the trusts and conditions herein set forth. forth Should any deed, conveyance or instrument in writing from the Issuer be required by such successor Trustee for more fully and certainly vesting in and confirming to such successor Trustee any such estates, rights, powers and duties, duties any and all such deeds, deeds conveyances and instruments shall, in writing shall on request and so far as may be authorized by law, law be executed, executed acknowledged and delivered by the Issuer. Issuer Any such successor Trustee shall promptly notify the paying agents of its appointment as Trustee Upon the effectiveness of the resignation or removal of the Trustee, such Trustee’s 's authority to act pursuant to this Indenture Trust Agreement shall terminate and such Trustee shall have no further responsibility or liability whatsoever as Trustee for performance of this IndentureTrust Agreement.