Common use of Trustee Term; Resignation Clause in Contracts

Trustee Term; Resignation. (a) Christiana Trust, a division of Wilmington Savings Fund Society, FSB, has been appointed and hereby agrees to serve as the Trustee of the Trust solely for purposes of satisfying the requirements of Section 3807 of the Delaware Trust Statute. The Trust shall have only one trustee unless otherwise determined by the Sponsor. The Trustee shall serve until such time as the Sponsor removes the Trustee or the Trustee resigns and a successor Trustee is appointed by the Sponsor in accordance with the terms of Section 2.05. (b) The Trustee may resign at any time upon the giving of at least sixty (60) days’ advance written notice to the Trust; provided, that such resignation shall not become effective unless and until a successor Trustee shall have been appointed by the Sponsor in accordance with Section 2.05. If the Sponsor shall not have notified the Trustee within such sixty (60) day period that it has appointed a successor Trustee, the Trustee may apply, at the expense of the Trust, to the Court of Chancery of the State of Delaware for the appointment of a successor Trustee.

Trustee Term; Resignation. (a) Christiana Wilmington Trust, a division of Wilmington Savings Fund Society, FSB, National Association has been appointed and hereby agrees to serve as the Trustee of the Trust solely for purposes of satisfying the requirements of Section 3807 of the Delaware Trust Statute. The Trust shall have only one trustee unless otherwise determined by the SponsorSponsor and agreed in writing by the Trustee. The Trustee shall serve until such time as the Sponsor removes the Trustee or the Trustee resigns and a successor Trustee is appointed by the Sponsor in accordance with the terms of Section 2.057 of this Article. (b) The Trustee may resign at any time upon the giving of at least sixty (60) days’ advance written notice to the Trust; provided, that such resignation shall not become effective unless and until a successor Trustee shall have been appointed by the Sponsor in accordance with Section 2.057 of this Article or by the Court of Chancery of the State of Delaware. If the Sponsor shall does not have notified the appoint a successor Trustee within such sixty (60) day period that it has appointed a successor Trusteeperiod, the Trustee may apply, at the sole cost and expense of the Trust, to the Court of Chancery of the State of Delaware for the appointment of a successor Trustee.