Common use of Trustees and Successor Trustees Clause in Contracts

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) Any The Trustee (and successor Trustees) may resign at any time resign by mailing to the registered holders of voting trust certificates Holders a written resignation, to take effect ten (10) days thereafter or upon the prior acceptance thereof. Upon the death, provided that the removal, incompetence or resignation of the Trustee, a sole successor Trustee shall be effective only upon designated by Holders of Certificates representing a majority of the acceptance of Trusteeship by a Shares then held in the Voting Trust; if no successor Trusteeis so designated, this Agreement shall terminate as provided in Section 12(a)(4).

Trustees and Successor Trustees. (a) Any Trustee (and successor Trustees) Trustees may resign at any time resign by mailing to the registered holders of voting trust certificates other Trustee a written resignation, to take effect ten (10) days thereafter or upon the prior acceptance thereof. Upon the death, provided that the incompetence or resignation of a sole Trustee, a successor Trustee shall be effective only upon designated by the acceptance of Trusteeship by a successor remaining Trustee.