APPOINTMENT OF ADDITIONAL TRUSTEE Sample Clauses

The "Appointment of Additional Trustee" clause establishes the process by which new trustees can be added to a trust. Typically, this clause outlines who has the authority to appoint additional trustees, such as the settlor, existing trustees, or a specified third party, and may set out any conditions or procedures that must be followed, such as obtaining consent from beneficiaries or providing written notice. Its core practical function is to ensure the trust can adapt to changing circumstances by allowing for the addition of new trustees, thereby maintaining effective trust administration and continuity.
APPOINTMENT OF ADDITIONAL TRUSTEE. SECTION 201.
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APPOINTMENT OF ADDITIONAL TRUSTEE. Section 3.1. The Company hereby appoints the Additional Trustee as trustee ----------- under the Indenture with respect to the Notes and each other series of Securities for which the Additional Trustee shall be appointed by the Company pursuant to Section 301 of the Indenture, as amended hereby, to act as Trustee under the Indenture, and confirms to the Additional Trustee all of the rights, powers, and trusts of a Trustee under the Indenture with respect to the Notes and each other series of Securities for which the Additional Trustee shall be appointed by the Company to act as Trustee under the Indenture. The Company shall execute and deliver such further instruments and do such other things as the Additional Trustee may reasonably require to more fully and certainly vest and confirm in the Additional Trustee all the rights, trusts, and powers hereby delivered and confirmed upon the Additional Trustee hereunder and under the Indenture. Section 3.2. The Additional Trustee hereby represents and warrants to the ----------- Company that the Additional Trustee is qualified under the provisions of Section 310 of the Trust Indenture Act of 1939, as amended, and Section 609 of the Indenture to act as trustee with respect to the Notes under the Indenture. Section 3.3. The Additional Trustee hereby accepts its appointment as ----------- trustee with respect to the Notes and shall hereby be vested with all the authority, rights, powers, trusts, immunities, duties, benefits and obligations of a trustee under the Indenture.
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APPOINTMENT OF ADDITIONAL TRUSTEE. The Company hereby appoints the Additional Trustee as trustee pursuant to Section 901(6) of the Base Indenture with respect to the Notes, and confirms to the Additional Trustee all of the rights, powers and trusts of a trustee under the Indenture with respect to the Notes. The Company shall execute and deliver such further instruments and do such other things as the Additional Trustee may reasonably require to more fully and certainly vest and confirm in the Additional Trustee all the rights, powers and trusts hereby delivered and confirmed upon the Additional Trustee hereunder and under the Indenture.
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APPOINTMENT OF ADDITIONAL TRUSTEE 
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Related to APPOINTMENT OF ADDITIONAL TRUSTEE

  • Appointment of Administrative Trustees (a) There shall at all times be one or more Administrative Trustees hereunder with respect to the Trust Securities. Each Administrative Trustee shall be either a natural person who is at least 21 years of age or a legal entity that shall act through one or more persons authorized to bind that entity. Each of the individuals identified as an “Administrative Trustee” in the preamble of this Trust Agreement hereby accepts his or her appointment as such. (b) Except where a requirement for action by a specific number of Administrative Trustees is expressly set forth in this Trust Agreement, any act required or permitted to be taken by, and any power of the Administrative Trustees may be exercised by, or with the consent of, any one such Administrative Trustee. Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with Section 8.11, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Trust Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement.

  • Appointment of Administrator Each Trust hereby appoints EIS as Administrator of the Trust and each of its series listed on SCHEDULE A attached hereto on the terms and conditions set forth in this Agreement; and EIS hereby accepts such appointment and agrees to perform the services and duties set forth in Section 2 of this Agreement in consideration of the compensation provided for in Section 4 hereof.

  • Appointment of Trustee The Depositor hereby appoints Wilmington Trust Company as Trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth herein.

  • Appointment of the Owner Trustee The Seller hereby appoints the Owner Trustee as trustee of the Issuer effective as of the date hereof, to have all the rights, powers and duties set forth herein.

  • Appointment of Co-Trustee (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction or otherwise, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustees, of all or any part of this Indenture, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 7.09 and no notice to the Holders of the appointment of any co-trustee or separate trustee shall be required. (b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions: (1) All rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee. (2) No trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder; and (3) The Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee. (c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Section 7.12. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee. (d) Any separate trustee or co-trustee may at any time constitute the Trustee its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies, and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.