Common use of Transition of Co-Trustee Obligations Clause in Contracts

Transition of Co-Trustee Obligations. On the resignation or removal of a Co-Trustee becoming effective under Section 9.3(b), all rights, powers and obligations of that Co-Trustee under this Agreement will become the rights, powers and obligations of the successor. The Co-Trustee will deliver to the successor all documents and amounts held by it under this Agreement, and the Administrator and the Co-Trustee will execute and deliver any documents and do other things reasonably required to confirm in the successor those rights, powers and obligations. The Depositor will reimburse the Co-Trustee and any successor for expenses related to the replacement of the Co-Trustee if those amounts have not been paid under Section 8.2 of the Indenture.