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.
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Retiring Trustee has the meaning ascribed thereto in subsection 3.6.4;
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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.

  • In the event that a Retiring Trustee elects to receive payments under his or her Applicable Plan in a lump sum, Retiring Trustee Payments to the Retiring Trustee shall be paid promptly following the Board Election Date and shall equal the product of (i) “Aggregate Retiring Trustee Benefit Amount” calculated as described above, multiplied by (i) the applicable “Present Value Factor” as determined in accordance with paragraph c below.

  • A Retiring Trustee may elect to receive payments under his or her Applicable Plan (as defined in paragraph 8 of this Amendment) in a single lump sum at the date the initial installment would otherwise be made in lieu of installment payments, provided that any such election is made on or prior to July 10, 2006 or, if earlier, the date of the Independent Trustee’s retirement.

  • 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.

  • Each applicable Present Value Factor shall be calculated according to the following formula: Present Value Factor = 1/(1+i)n where: n= the number of years (expressed to the nearest 1/100th of a year) remaining until the date that is the midpoint between the date of the first remaining payment and the last remaining payment payable to the independent Trustee under the Plan, assuming, in the case of a Retiring Trustee, that the Trustee retired on January 1, 2007; and i= 5.0% per annum.

  • 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.


More Definitions of Retiring Trustee

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

  • Continuing Trustee means any member of the Board of Trustees who either (a) has been a member of the Board of Trustees for a period of at least thirty-six months (or since the commencement of the Trust’s operations, if less than thirty-six months) or (b) was nominated to serve as a member of the Board of Trustees by a majority of the Continuing Trustees then members of the Board of Trustees.

  • NIM Trustee The trustee for the NIM Securities.

  • Relevant Trustee shall have the meaning specified in Section 8.10.

  • Co-Trustee has the meaning set forth in the Basic Servicing Agreement.

  • Supplemental Agent has the meaning set forth in Section 9.14(a) and “Supplemental Agents” shall have the corresponding meaning.

  • Administrative Trustee means each of the Persons identified as an “Administrative Trustee” in the preamble to this Trust Agreement, solely in each such Person’s capacity as Administrative Trustee of the Trust and not in such Person’s individual capacity, or any successor Administrative Trustee appointed as herein provided.

  • Independent Trustee means a Trustee who is not an interested person within the meaning of Section 2(a)(19) of the Investment Company Act.

  • Rights Agent means the Rights Agent named in the first paragraph of this Agreement, until a successor Rights Agent shall have become such pursuant to the applicable provisions of this Agreement, and thereafter “Rights Agent” shall mean such successor Rights Agent.

  • Transfer Agent and Registrar shall have the meaning set forth in Section 2.5(e) hereof.

  • Appointed Trustee means each person acting in a Corporate Trust Capacity under each applicable Corporate Trust Contract.

  • Trustee means any person, including the founder of a trust, to whom property is bequeathed in order for such property to be administered for the benefit of another person.

  • Existing Agent has the meaning assigned to such term in the recitals hereto.

  • U.S. Trustee means the Office of the United States Trustee for the District of Delaware.

  • Escrow Trustee means the bank or trust company designated by the Fiscal Officer in the Certificate of Award as the initial escrow agent with respect to the Refunded Bonds under the Escrow Agreement and until a successor Escrow Trustee shall have become such pursuant to the provisions of the Escrow Agreement and, thereafter, "Escrow Trustee" shall mean the successor Escrow Trustee.

  • Trust Agent means U.S. Bank, as Trust Agent under the Titling Trust Agreement.

  • Liquidating Trustee has the meaning set forth in Section 6.2(a).

  • Canadian Trustee means the Person named as the “Canadian Trustee” in the first paragraph of this Indenture until a successor Canadian Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Canadian Trustee” shall mean or include each Person who is then a Canadian Trustee hereunder; provided, however, that if at any time there is more than one such Person, “Canadian Trustee” as used with respect to the Securities of any series shall mean only the Canadian Trustee with respect to Securities of that series.

  • Collateral Trustee has the meaning set forth in the preamble.

  • Resignation means a voluntary notice by the employee that they are terminating their service on the date specified;

  • Grantee Agents means Xxxxxxx’s representatives, employees, officers, as well as any contractor

  • Co-Rights Agents shall have the meaning ascribed thereto in Subsection 4.1(a);

  • Global Agent has the meaning specified in the preamble, and any duly qualified and appointed successor or successors of U.S. Bank thereto.

  • Successor Trustee means a successor Trustee possessing the qualifications to act as Trustee under Section 4.01.

  • Fiscal Agent means the Fiscal Agent, if any, designated pursuant to the terms of the Policy.

  • relevant trust means a trust established out of funds provided by the Secretary of State in respect of persons who suffered, or who are suffering, from variant Creutzfeldt-Jakob disease for the benefit of persons eligible for payments in accordance with its provisions;

  • Liquidation Trustee means the trustee appointed jointly by the Debtors and the Creditors’ Committee, and identified in the Plan Supplement, to serve as the liquidation trustee under the Liquidation Trust Agreement, or any successor appointed in accordance with the terms of the Plan and Liquidation Trust Agreement.