Resignation and Removal of Trustees. Each of the Trustee and the Delaware Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Master Servicer. Upon receiving such notice of resignation, the Master Servicer shall promptly appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee or the Delaware Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee or the Delaware Trustee shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or a receiver of such trustee or of its property shall be appointed, or any public officer shall take charge or control of such trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Master Servicer may remove such trustee and appoint a successor trustee by written instrument, in duplicate, copies of which instrument shall be delivered to the trustee so removed, the trustee continuing in its capacity and the successor trustee. The Holders of Certificates evidencing Percentage Interests aggregating more than 50% of REMIC II may at any time remove the Trustee or the Delaware Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys in-fact duly authorized, one complete set of which instruments shall be delivered to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Any resignation or removal of the Trustee or the Delaware Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.08. Any expenses associated with the resignation of the Trustee or the Delaware Trustee shall be borne by such trustee, and any expenses associated with the removal of the Trustee or the Delaware Trustee shall be borne by the Mas...
Resignation and Removal of Trustees. Any of the Trustees may resign their trust (without need for prior or subsequent accounting) by an instrument in writing signed by such Trustee and delivered or mailed to the Trustees, Chairman or Secretary, if any, and such resignation shall be effective upon such delivery, or at a later date according to the terms of the instrument. Any Trustee, or the entire Board, may be removed from office at any time (provided the aggregate number of Trustees after such removal shall not be less than the minimum number required by Section 4.1 hereof) (i) by a majority of the remaining Trustees (or in the case of the removal of a Trustee that is not an Interested Person a majority of the remaining Trustees that are not Interested Persons) but only for cause or (ii) upon a vote by the holders of more than fifty percent (50%) of the outstanding Shares of the Company entitled to vote with or without cause. Upon the resignation or removal of a Trustee, each such resigning or removed Trustee shall execute and deliver such documents as the remaining Trustees shall require for the purpose of conveying to the Company or the remaining Trustees any Company property held in the name of such resigning or removed Trustee. Upon the incapacity or death of any Trustee, such Trustee’s legal representative shall execute and deliver on such Trustee’s behalf such documents as the remaining Trustees shall require as provided in the preceding sentence. Except to the extent expressly provided in a written agreement with the Trust, no Trustee resigning and no Trustee removed shall have any right to any compensation for any period following the effective date of his resignation or removal, or any right to damages on account of a removal.
Resignation and Removal of Trustees. Each of the Trustee and the Delaware Trustee may at any time resign and be discharged from the trust hereby created by 147
Resignation and Removal of Trustees. A trustee may resign at any time by giving thirty (30) days notice of
Resignation and Removal of Trustees. 100 Section 8.08. Successor Trustee.......................................................... 100 Section 8.09. Merger or Consolidation of Trustee......................................... 101 Section 8.10. Appointment of Co-Trustee or Separate Trustee.............................. 101 Section 8.11. Authenticating Agents...................................................... 102 TABLE OF CONTENTS (continued) Section 8.13. Duties of Delaware Trustee................................................. 104 Section 8.14. Amendment to Certificate of Trust.......................................... 104
Resignation and Removal of Trustees. A trustee may resign at any time by giving thirty (30) days' notice of such resignation to Grantor, if living, and if not, to the then current income beneficiaries or their guardians; provided, however, the Corporate Trustee shall not resign until a successor trustee is appointed. Any successor trustee shall qualify under the provisions set forth below in Section 3 of this Article. Grantor, during his lifetime, and a majority of the then current income beneficiaries thereafter, shall have the right to remove any trustee with or without cause by giving thirty (30) days' notice of such removal to such trustee.
Resignation and Removal of Trustees. The resignation, removal and appointment of Trustees is governed by applicable Georgia law. Upon such resignation or removal, a successor individual co-trustee shall be appointed by the GMA Board of Directors, and shall have the same powers and duties as those conferred upon the Trustees hereunder.
Resignation and Removal of Trustees. (a) The Board may, at any time with or without cause, remove a Trustee by written notice to such Trustee, which removal shall be effective immediately after delivery of such notice unless the Company and such Trustee agree otherwise.
(b) In the event of the termination of employment by the Company or its subsidiaries for any reason (with or without Cause) of any Trustee, such Trustee shall cease to be a Trustee hereunder upon the effective date of such termination.
(c) A Trustee may resign at any time by written notice to the Company, which resignation shall be effective immediately after delivery of such notice unless the Company and such Trustee agree otherwise.
(d) Upon removal or resignation of a Trustee pursuant to Section 10(a), (b) or (c), the Company may, but shall not be required to, appoint a new Trustee to replace such departing Trustee.
Resignation and Removal of Trustees. Any Trustee may resign at any time by giving at least sixty (60) days written notice of such resignation to the other Trustee or Trustees and the Beneficiary. An individual Trustee may be removed from office by the Beneficiary acting alone and without the consent of the Trustees, but may be removed only for reasonable cause based on a determination of (i) mental or physical incapacity which in the opinion of two medical doctors prevents the Trustee from performing his or her fiduciary duty and responsibilities as Trustee, or (ii) gross negligence or intentional disregard of fiduciary duty in the performance of his or her responsibilities as Trustee. A corporate trustee may be removed by the Beneficiary with or without cause and without the consent of the Trustees by giving 30 days notice in writing.
Resignation and Removal of Trustees. (a) Either Trustee may resign at any time by written notice to Company, which shall be effective ten (10) days after receipt of such notice unless Company and such Trustee agree otherwise.
(b) Either Trustee may be removed by Company on ten (10) days notice or upon shorter notice accepted by such Trustee. Upon a change of control, as hereafter defined, however, a Trustee may not be removed until all amounts deferred under the Plan have been distributed to Plan participants or their beneficiaries.
(c) If either Trustee resigns or is removed, the remaining Trustee shall continue to serve as Trustee, either alone or together with one or more successor trustees.
(d) Upon resignation or removal of both Trustees and appointment of a successor trustee, all assets shall subsequently be transferred to the successor trustee. The transfer shall be completed within ten (10) days after receipt of notice of resignation, removal or transfer, unless Company extends the time limit.
(e) Successor trustees shall be appointed in accordance with Section 9 hereof, by the effective date of the resignation or removal of both Trustees under paragraphs (a) or (b) of this section. If no such appointment has been made, Trustees may apply to a court of competent jurisdiction for appointment of a successor or for instructions. All expenses of Trustees in connection with the proceeding shall be allowed as administrative expenses of the Trust.
