Trustees and Successor Trustees. (a) Any Trustee (and successor Trustees) may at any time resign by mailing to the registered holders of voting trust certificates a written resignation, to take effect ten (10) days thereafter or upon the prior acceptance thereof, provided that the resignation of a sole Trustee shall be effective only upon the acceptance of Trusteeship by a successor Trustee.
Trustees and Successor Trustees. (a) The Trustee (and any successor Trustee) may at any time resign by mailing to the registered holders of voting trust certificates a written resignation, to take effect ten days thereafter or upon the prior acceptance thereof. Upon dissolution, liquidation or a merger or consolidation, or a sale of assets contemplating a liquidation of the Trustee, in which the Trustee's equityholders prior to such transaction own in the aggregate less than 50% of the resulting company after the transaction, or upon a resignation or removal of the Trustee, then a successor Trustee shall be designated in writing by SERS, or if SERS is no longer a Shareholder, SERS's successor in interest or if SERS has more than one successor in interest, the majority in interest of SERS's successors in interest. Notwithstanding any provision in this Voting Trust Agreement to the contrary, any Trustee may be removed at any time, with or without cause, upon written notice to the Trustee (or any successor Trustee) by SERS, or if SERS is no longer a Shareholder, SERS's successor in interest or if SERS has more than one successor in interest, a representative of the majority in interest of SERS's successors in interest.
Trustees and Successor Trustees. 13.1 The Trustee may resign at any time by mailing to the Holders and Company a written resignation, to take effect twenty-one (21) days thereafter or upon the prior acceptance thereof. Upon the death, incompetence, liquidation, dissolution or resignation of the Trustee, a successor Trustee that meets the requirements of Section 3 above shall be appointed by Beneficiary.
Trustees and Successor Trustees
