Retiring Trustee definition

Retiring Trustee means a Trustee that resigns or vacates the office of Trustee for any reason.

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Retiring Trustee has the meaning specified in Section 6.08(b) of the Indenture.

Retiring Trustee has the meaning ascribed thereto in subsection 3.6.4;

Examples of Retiring Trustee in a sentence

• The Retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee.

• Thereupon the resignation or removal of the Retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture.

• If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities delivered to the Company and the Retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the successor Trustee and supersede the successor Trustee appointed by the Company.

• A successor Trustee shall deliver a written acceptance of its appointment to the Retiring Trustee and to the Issuer.

• If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the "Retiring Trustee"), the Issuer shall promptly appoint a successor Trustee.

• Notwithstanding the replacement of the Trustee pursuant to this Section 6.08, the Issuer's obligations under Section 6.07 shall continue for the benefit of the Retiring Trustee.

• If a successor Trustee does not take office within 60 days after the Retiring Trustee resigns or is removed, the Retiring Trustee at the expense of the Issuer, the Issuer or the Majority Holders may petition any court of competent jurisdiction for the appointment of a successor Trustee.

• Thereupon the resignation or removal of the Retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture and the Intercreditor Agreement.

• We accepted the resignation of the Retiring Trustee and appointed the Successor Trustee in order to take advantage of a more efficient money market based system of settling issuances of notes issued pursuant to the Indenture not available through the Retiring Trustee.

• The Retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07.

More Definitions of Retiring Trustee

Retiring Trustee which expression shall where the context permits include any New Trustee as defined below) shall retire as a trustee of either Trust he hereby undertakes with the Buyer immediately prior to his so retiring to obtain from any person or persons replacing him (the "NEW TRUSTEE") a covenant to the Buyer and the Retiring Trustee to be bound by this agreement and all the obligations of the Retiring Trustee hereunder in place of the Retiring Trustee and on the giving of such a covenant by the New Trustee the Retiring Trustee shall (except in relation to any claim notice of which has previously been given) thereupon be discharged from all or any liability under this agreement or under the Tax Deed.

Retiring Trustee. 7.8 "Series" 2.1 "Successor Issuer" 5.1(i)