Common use of Replacement of Trustee Clause in Contracts

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 11 contracts

Sources: Indenture (Berry Global Group, Inc.), Indenture (Berry Global Group, Inc.), Indenture (Berry Global Group, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Issuer and the Trustee in writing and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.6. All costs reasonably incurred in connection with any resignation or removal hereunder shall be borne by the Issuer. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s obligations under Section 7.07 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 10 contracts

Sources: Indenture (Mattel Inc /De/), Indenture (Mattel Inc /De/), Indenture (Mattel Inc /De/)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee under this Indenture and the Securities to the successor Trustee, subject to the Lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 8 contracts

Sources: Indenture (NewPage Holdings Inc.), Indenture (Verso Paper Corp.), Indenture (Verso Paper Corp.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying providing 30 days’ prior written notice to the Issuer. The Holders of a majority in aggregate principal amount of the Securities Notes then outstanding may remove the Trustee by so notifying providing 30 days’ prior written notice to the Trustee and may appoint a successor Trustee. The Issuer shall may remove the Trustee by providing 30 days’ prior written notice if: (ia) the Trustee fails to comply with Section 7.10; (iib) the Trustee is adjudged bankrupt or insolventinsolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (iiic) a receiver or other public officer takes charge of the Trustee or its property; or; (ivd) the Trustee otherwise becomes incapable of acting.; or (be) there is no Event of Default continuing and no event that upon notice or lapse of time or both, would become an Event of Default. If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in aggregate principal amount of the Securities Notes then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the HoldersNoteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) . If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, at the reasonable expense of the Issuer, or the Holders of 10% in aggregate principal amount of the Securities Notes then outstanding may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder Noteholder who has been a bona fide holder Holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement or resignation of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring TrusteeTrustee and survive the termination of this Indenture.

Appears in 7 contracts

Sources: Indenture (Crocs, Inc.), Indenture (Crocs, Inc.), Indenture (Energizer Holdings, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 7 contracts

Sources: Indenture (Everest Acquisition Finance Inc.), Indenture (Athlon Energy Inc.), Indenture (Athlon Energy Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time time. Any successor Trustee shall resign if it ceases to be eligible in accordance with the provisions of Section 8.09. In either case, the resignation of the Trustee shall become effective, and the resigning Trustee shall be discharged from its obligations with respect to the Trust Funds created under this Agreement by so notifying giving 90 days’ written notice of the Issuer. The Holders resignation to the Depositor, the Guarantor and the Administrator and upon the effectiveness of an appointment of a majority in principal amount successor Trustee, which may be as of a date prior to the end of the Securities may remove 90-day period. Upon receiving such notice of resignation, the Trustee Depositor shall promptly appoint one or more successor Trustees by so notifying written instrument, one copy of which is delivered to the resigning Trustee and may appoint a one copy of which is delivered to the successor Trustee. The Issuer shall remove successor Trustee need not be the same Person for all Trust Funds. If no successor Trustee if:has been appointed for a Trust Fund, or one that has been appointed has not accepted the appointment within 90 days after giving such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. (i) the Trustee fails to comply with Section 7.108.09; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. . If at any time a Trustee Event of Default has occurred and is continuing, the Guarantor (bor if an Event of Default has occurred and is continuing, the Depositor) may, and if directed by the acting holders, shall, remove the Trustee as to such Trust Fund and appoint a successor Trustee by written instrument, one copy of which shall be delivered to the Trustee so removed and one copy of which shall be delivered to the successor Trustee, and the Guarantor (or if an Event of Default has occurred and is continuing, the Depositor) shall give written notice of the successor Trustee to the Holders affected by the succession. Notwithstanding the termination of the Trustee, its liability under this Agreement arising prior to such termination will survive such termination. If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer Depositor shall promptly appoint a successor Trustee that satisfies the eligibility requirements of Section 8.09. The retiring Trustee agrees to cooperate with ▇▇▇▇▇▇▇ Mac and any successor Trustee in effecting the termination of the retiring Trustee. (c) ’s responsibilities and rights hereunder and shall promptly provide such successor Trustee all documents and records reasonably requested by it to enable it to assume the Trustee’s functions hereunder. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerDepositor, the Guarantor and the Administrator. 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 IndentureAgreement with respect to such Trust Fund. The successor Trustee shall send mail a notice of its succession to the related Holders. 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. (d) . If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Depositor may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 7 contracts

Sources: Master Trust Agreement, Multiclass Certificates Master Trust Agreement, Multiclass Certificates Master Trust Agreement

Replacement of Trustee. (a) The Trustee may resign at any time with respect to the Securities of any Series by so notifying the Issuer. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee with respect to such Series of Securities. The Issuer shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.10; (ii2) the Trustee is adjudged bankrupt or insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities of any Series and such Holders do not reasonably promptly appoint a successor Trustee, Trustee 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. (c) . Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace 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. 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. The successor Trustee shall send mail a notice of its succession to the HoldersHolders of that Series of Securities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) . If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities of that Series may petition petition, at the expense of the Issuer Issuer, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless after written notice hereto, the Trustee’s duty to resign is stayed as provided in Section 310(b) Holders of the TIA, any Holder who has been a bona fide holder of a Security for at least six months 10% in principal amount of that Series of Securities may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 6 contracts

Sources: Indenture (Priceline Group Inc.), Indenture (Crown Castle International Corp), Indenture (Crown Castle International Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 6 contracts

Sources: Indenture (Hexion Inc.), Indenture (Hexion Inc.), Indenture (Momentive Specialty Chemicals Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Issuer and the Trustee in writing and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.6. All costs reasonably incurred in connection with any resignation or removal hereunder shall be borne by the Issuer. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10at least 10.0% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s obligations under Section 7.07 Article 7 shall continue for the benefit of the retiring Trusteeor removed Trustee or for the benefit of the Trustee or any removed or retiring Trustee following termination of this Indenture. (b) Any Agent may resign its appointment upon not less than 30 days’ notice to the Issuer; provided, however, that: (i) if such resignation would otherwise take effect less than 30 days before or after the maturity date or other date for redemption of the Notes or any interest payment date in relation to the Notes, such resignation will not take effect until the 30th day following such date; (ii) such resignation shall not take effect until a successor has been duly appointed by the Issuer, and notice of such appointment has been given to the Holders. (c) If any Agent gives notice of its resignation in accordance with Section 7.7(b) and a successor thereto has not been duly appointed by the Issuer by the 10th day before the expiry of such notice, such Agent may itself, following such consultation with the Issuer as is practicable in the circumstances, appoint as its successor any reputable and experienced financial institution and give notice of such appointment to the Issuer, the other Agents and the Holders, whereupon the Issuer, the other Agents and the successor appointed pursuant to this Section 7.7(c) shall acquire and become subject to the same rights and obligations between themselves as if they had entered into an agreement in the form mutatis mutandis of this Indenture. None of Section 7.7(b) or Section 7.7(c) shall apply to the Trustee acting in any such Agent capacities.

Appears in 5 contracts

Sources: Supplemental Indenture (Axalta Coating Systems Ltd.), Indenture (Allison Transmission Holdings Inc), Indenture (Axalta Coating Systems Ltd.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities may remove the Trustee with the reasonable consent of the Company by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, resigns or is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s 's duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers' obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 5 contracts

Sources: Indenture (Dex Media Inc), Indenture (Dex Media International Inc), Indenture (Dex Media Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 5 contracts

Sources: Indenture (RBS Global Inc), Indenture (OEI, Inc.), Indenture (Rexnord Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany. The Holders of a majority in principal amount of the Securities Outstanding Notes may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Issuer Company shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, resigns or is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities Outstanding Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.077.7. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Outstanding Notes may petition petition, at the expense of the Issuer Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the IssuerCompany’s obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 5 contracts

Sources: Indenture (Mexican Cellular Holding, Inc.), Indenture (Iusacell S a De C V), Indenture (Inmobiliaria Montes Urales 460 S a De C V)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 5 contracts

Sources: Indenture (Momentive Specialty Chemicals Inc.), Indenture (Hexion Specialty Chemicals, Inc.), Indenture (Hexion Specialty Chemicals, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 5 contracts

Sources: Indenture (ADT, Inc.), Indenture (ADT, Inc.), Indenture (CAESARS ENTERTAINMENT Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in aggregate principal amount of the Securities Notes may remove the Trustee by so notifying the Issuer and the Trustee in writing and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in aggregate principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.6. All costs reasonably incurred in connection with any resignation or removal hereunder shall be borne by the Issuer. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in aggregate principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s obligations under Section 7.07 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 4 contracts

Sources: Indenture (PPD, Inc.), Indenture (PPD, Inc.), Indenture (CommScope Holding Company, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail (or otherwise deliver in accordance with the procedures of the Depository) a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations of the Issuers and the Subsidiary Guarantors under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 4 contracts

Sources: Indenture (EP Energy Corp), Indenture (EP Energy Corp), Indenture (EP Energy Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee upon 30 days advance written notice and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 4 contracts

Sources: Indenture (Rackspace Technology, Inc.), Indenture (Rackspace Technology, Inc.), Indenture (Rackspace Technology, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time with respect to the Securities of any Series by so notifying the Issuer. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee with respect to such Series of Securities. The Issuer shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.10;7.10; (ii2) the Trustee is adjudged bankrupt or insolvent;insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities of any Series and such Holders do not reasonably promptly appoint a successor Trustee, Trustee 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. (c) . Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the HoldersHolders of that Series of Securities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) . If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities of that Series may petition petition, at the expense of the Issuer Issuer, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless after written notice hereto, the Trustee’s duty to resign is stayed as provided in Section 310(b) Holders of the TIA, any Holder who has been a bona fide holder of a Security for at least six months 10% in principal amount of that Series of Securities may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 4 contracts

Sources: Agency Agreement (Booking Holdings Inc.), Agency Agreement (Booking Holdings Inc.), Agency Agreement (Booking Holdings Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall Issuers may upon five Business Days’ notice remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail, or otherwise deliver in accordance with the procedures of the Depository, a notice of its succession to the Holdersholders. 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. The retiring (or removed) Trustee shall have no liability or responsibility for the actions or inaction of any successor Trustee. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s Issuers’ obligations under Section 7.07 Article VII shall continue for the benefit of the retiring Trustee.

Appears in 4 contracts

Sources: Exchange Agreement (Talos Energy Inc.), Indenture (Talos Energy Inc.), Exchange Agreement (SAILFISH ENERGY HOLDINGS Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall may remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.09; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 within 30 days of receiving notice of the resignation or removal of the Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor TrusteeTrustee (provided all sums owing to the Trustee hereunder are paid), subject to the Lien provided for in Section 7.077.06. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA7.09, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.07, the Issuer’s obligations under Section 7.07 7.06 shall continue for the benefit of the retiring Trustee. In no event shall the retiring Trustee be held responsible for the actions or inactions of the successor trustee.

Appears in 3 contracts

Sources: Indenture (CLARIVATE PLC), Indenture (Clarivate Analytics PLC), Indenture (CLARIVATE PLC)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany. The Required Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee by so notifying the resigning Trustee of its replacement. The Issuer Company shall remove the Trustee if: (ia) the Trustee fails to comply with Section 7.10; (iib) the Trustee is adjudged bankrupt or insolvent; (iiic) a receiver or other public officer takes charge of the Trustee or its property; or (ivd) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer Company or by the Required Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly (but in any event, within 30 days following such resignation or removal) appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) . If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount of the Securities Notes then outstanding may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder Holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this Section, the IssuerCompany’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Sources: Transaction Agreement (Quantum Corp /De/), Indenture (Amc Entertainment Holdings, Inc.), Indenture

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send deliver a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Sources: Indenture (Momentive Performance Materials Quartz, Inc.), Indenture (Momentive Performance Materials Quartz, Inc.), Indenture (Momentive Performance Materials Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee upon 30 days advance written notice and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail (or otherwise deliver in accordance with the procedures of the Depository) a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Sources: Indenture (QXO, Inc.), Indenture (Chart Industries Inc), Indenture (Chart Industries Inc)

Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section. The Trustee may resign at any time and be discharged from the trust hereby created by so notifying the IssuerCompany. The Holders of a majority in principal amount of the then outstanding Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trusteethe Company. The Issuer shall Company may remove the Trustee if: (i1) the Trustee fails to comply with Section 7.10310(b) of the TIA; (ii2) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (iii3) a receiver Custodian or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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)reason, the Issuer Company shall promptly appoint a successor Trustee. (c) . If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in principal amount of the then outstanding Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 310 of the TIA, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) 7.6. Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s Company's obligations under Section 7.07 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Sources: Supplemental Indenture (Integrated Health Services Inc), Indenture (Integrated Health Services Inc), Indenture (Integrated Health Services Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send a notice of its succession to the Holders. 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. (d) If a successor Trustee T▇▇▇▇▇▇ does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Sources: Indenture (Berry Global Group, Inc.), Indenture (Berry Global Group, Inc.), Indenture (Berry Plastics Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany in writing. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.8. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Company and the Trustee in writing not less than 30 days prior the effective date of such removal and may appoint a successor TrusteeTrustee with the consent of the Company, which shall not be unreasonably withheld. The Issuer Company shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall mail or send a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.077.7. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 1010.0% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIATrust Indenture Act, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction jurisdiction, at the expense of the Company, for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the IssuerCompany’s obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee. (g) The Trustee shall have no responsibility or liability for any action or inaction of a successor Trustee.

Appears in 3 contracts

Sources: Indenture (MSCI Inc.), Indenture (MSCI Inc.), Indenture (MSCI Inc.)

Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee's acceptance of appointment as provided in this Section. The Trustee may resign at any time and be discharged from the trust hereby created by so notifying the IssuerCompany. The Holders of a majority in principal amount of the then outstanding Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trusteethe Company. The Issuer shall Company may remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged a bankrupt or insolventan insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (iii) a receiver Custodian or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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)reason, the Issuer Company shall promptly appoint a successor Trustee. (c) . If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in principal amount of the then outstanding Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. If the Trustee fails to comply with Section 7.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations of the Company under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Sources: Indenture (Barrett Resources Corp), Indenture (Newfield Exploration Co /De/), Indenture (Barrett Resources Corp)

Replacement of Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 7.10. The Trustee may resign at any time by so notifying the IssuerIssuer in writing. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying 30 days written notice to the Trustee and Issuer and may appoint a successor TrusteeTrustee with the Issuer’s written consent, which consent will not be unreasonably withheld. The Issuer shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.107.10 hereof; (ii2) the Trustee is adjudged bankrupt or insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor TrusteeTrustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any other reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send a notice of its succession to the HoldersNoteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the Issuer’s expense) or the Holders of at least 10% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section TIA § 310(b) of the TIA), any Holder Noteholder, who has been a bona fide holder of a Security Note for at least six months months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the Issuer’s obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 3 contracts

Sources: Indenture (ANTERO RESOURCES Corp), Indenture (ANTERO RESOURCES Corp), Indenture (ANTERO RESOURCES Corp)

Replacement of Trustee. (a) No resignation or removal of the Trustee shall become effective until the appointment of a successor Trustee pursuant to this Section 6.08 and that meets the criteria set forth in Section 6.11 has become effective. The Trustee may resign at any time by so notifying the Issuer, the Noteholders, the Trust Depositor and the Servicer. The Holders of a majority in principal amount Majority Noteholders or the Issuer, with the written consent of the Securities Majority Noteholders, may remove the Trustee by so notifying the Trustee and may appoint in writing (a successor Trusteecopy of which notice shall promptly be provided by the Issuer to the Rating Agency). The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.106.11; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or; (iv) the Trustee otherwise becomes incapable of acting.; or (bv) the Trustee defaults in any of its obligations under the Transaction Documents and such default is not cured within 30 days after a Responsible Officer of the Trustee receives written notice of such default. If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon Upon the appointment becoming effective, 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. The No successor Trustee shall send a notice accept appointment as provided in this Section 6.08 unless at the time of its succession to such appointment becoming effective such Person shall be eligible under the Holdersprovisions of Section 6.11. The retiring Trustee shall promptly transfer all property (including all Indenture Collateral) held by it as Trustee to the successor TrusteeTrustee and shall execute and deliver such instruments and such other documents as may reasonably be required to more fully and certainly vest and confirm in the successor Trustee all such rights, subject to the Lien provided for in Section 7.07. (d) powers, duties and obligations. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuer or the Holders of 10% in principal amount of the Securities Majority Noteholders may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 6.08, the Issuer’s obligations under Section 7.07 6.07 shall continue for the benefit of the retiring Trustee. Upon the appointment of a successor Trustee as provided in this Section 6.08, the successor Trustee shall mail notice of such succession hereunder at the expense of the Issuer to all Holders of Notes at their addresses as shown in the Note Register.

Appears in 2 contracts

Sources: Indenture (Hercules Technology Growth Capital Inc), Indenture (Hercules Technology Growth Capital Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany in writing. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.8. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Company and the Trustee in writing not less than 30 days prior the effective date of such removal and may appoint a successor TrusteeTrustee with the consent of the Company, which shall not be unreasonably withheld. The Issuer Company shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall mail or send a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.077.7. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 1010.0% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIATrust Indenture Act, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction jurisdiction, at the expense of the Company, for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the IssuerCompany’s obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee. (g) The Trustee shall have no responsibility or liability for any action or inaction of a successor Trustee.

Appears in 2 contracts

Sources: Indenture (MSCI Inc.), Indenture (MSCI Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail or electronically transmit a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Affinion Group, Inc.), Indenture (Affinion Group, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time time. Any successor Trustee shall resign if it ceases to be eligible in accordance with the provisions of Section 8.09. In either case, the resignation of the Trustee shall become effective, and the resigning Trustee shall be discharged from its obligations with respect to the Trust Funds created under this Agreement by so notifying giving 90 days’ written notice of the Issuer. The Holders resignation to the Depositor, the Guarantor and the Administrator and upon the effectiveness of an appointment of a majority in principal amount successor Trustee, which may be as of a date prior to the end of the Securities may remove 90-day period. Upon receiving such notice of resignation, the Trustee Depositor shall promptly appoint one or more successor Trustees by so notifying written instrument, one copy of which is delivered to the resigning Trustee and may appoint a one copy of which is delivered to the successor Trustee. The Issuer shall remove successor Trustee need not be the same Person for all Trust Funds. If no successor Trustee if:has been appointed for a Trust Fund, or one that has been appointed has not accepted the appointment within 90 days after giving such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor ▇▇▇▇▇▇▇. (i) the Trustee fails to comply with Section 7.108.09; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. . If at any time a Trustee Event of Default has occurred and is continuing, the Guarantor (bor if an Event of Default has occurred and is continuing, the Depositor) may, and if directed by the acting holders, shall, remove the Trustee as to such Trust Fund and appoint a successor Trustee by written instrument, one copy of which shall be delivered to the Trustee so removed and one copy of which shall be delivered to the successor Trustee, and the Guarantor (or if an Event of Default has occurred and is continuing, the Depositor) shall give written notice of the successor Trustee to the Holders affected by the succession. Notwithstanding the termination of the Trustee, its liability under this Agreement arising prior to such termination will survive such termination. If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer Depositor shall promptly appoint a successor Trustee that satisfies the eligibility requirements of Section 8.09. The retiring Trustee agrees to cooperate with Freddie Mac and any successor Trustee in effecting the termination of the retiring Trustee. (c) ’s responsibilities and rights hereunder and shall promptly provide such successor Trustee all documents and records reasonably requested by it to enable it to assume the Trustee’s functions hereunder. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerDepositor, the Guarantor and the Administrator. 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 IndentureAgreement with respect to such Trust Fund. The successor Trustee shall send mail a notice of its succession to the related Holders. 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. (d) . If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Depositor may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Multiclass Certificates Master Trust Agreement, Multiclass Certificates Master Trust Agreement

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail, or deliver electronically if held by the Depository, a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee under this Indenture and the Securities to the successor Trustee, subject to the Lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Verso Paper Holdings LLC), Indenture (Verso Paper Corp.)

Replacement of Trustee. (a) The Trustee may (in any of its capacities hereunder) resign at any time by so notifying the IssuerCompany. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Company shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Company or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send a deliver notice of its succession to the Holdersholders. 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. (d) If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Company any court of competent jurisdiction for the appointment of a successor Trustee. The foregoing clause shall apply to the Trustee in any of its other capacities hereunder, mutatis mutandis. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee (in any of its capacities hereunder) pursuant to this SectionSection 7.08, the IssuerCompany’s obligations under Section 7.07 shall continue for the benefit of the retiring TrusteeTrustee (in any of its capacities hereunder).

Appears in 2 contracts

Sources: Indenture (Stem, Inc.), Indenture (TheRealReal, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuer in writing. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Issuer’s written consent, which consent will not be unreasonably withheld. The Issuer shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.107.10 hereof or TIA § 310; (ii2) the Trustee is adjudged bankrupt or insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor TrusteeTrustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any other reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send a notice of its succession to the HoldersNoteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section TIA § 310(b) of the TIA), any Holder Noteholder, who has been a bona fide holder Holder of a Security Note for at least six months months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the Issuer’s obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Ultra Petroleum Corp), Exchange Agreement (Ultra Petroleum Corp)

Replacement of Trustee. (a) The Trustee may resign at any time with respect to the Securities of any Series by so notifying the Issuer. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee with respect to such Series of Securities. The Issuer shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.10; (ii2) the Trustee is adjudged bankrupt or insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities of any Series and such Holders do not reasonably promptly appoint a successor Trustee, Trustee 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. (c) . Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the HoldersHolders of that Series of Securities. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) . If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities of that Series may petition petition, at the expense of the Issuer Issuer, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless after written notice hereto, the Trustee’s duty to resign is stayed as provided in Section 310(b) Holders of the TIA, any Holder who has been a bona fide holder of a Security for at least six months 10% in principal amount of that Series of Securities may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Agency Agreement (Booking Holdings Inc.), Indenture (Priceline Group Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. 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 7.077.07 and shall have no responsibility or liability for any action (or inaction) of any successor Trustee. (d) If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Outbrain Inc.), Indenture (Forward Air Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send a notice of its succession to the Holders. 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. (d) If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Aeroways, LLC), Indenture (Cke Restaurants Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall may remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. If the Trustee has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provide by, and subject to the provisions of, the TIA and this Indenture. To the extent permitted by the TIA, the Trustee shall not be deemed to have a conflicting interest by virtue of being a Trustee under this Indenture with respect to Notes of more than one series. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s 's duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder Holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s 's obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Intelsat LTD), Indenture (PanAmSat Holding CORP)

Replacement of Trustee. (a) No resignation or removal of the Trustee shall become effective until the appointment of a successor Trustee pursuant to this Section 6.08 and that meets the criteria set forth in Section 6.11 has become effective. The Trustee may resign at any time by so notifying with thirty (30) days prior written notice to the Issuer, the Noteholders, the Trust Depositor and the Servicer. The Holders of a majority in principal amount Majority Noteholders or the Issuer, with the written consent of the Securities Majority Noteholders, may remove the Trustee by so notifying with thirty (30) days prior written notice to the Trustee and may appoint (a successor Trusteecopy of which notice shall promptly be provided by the Issuer to the Rating Agency). The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.106.11; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or; (iv) the Trustee otherwise becomes incapable of acting.; or (bv) the Trustee defaults in any of its obligations under the Transaction Documents and such default is not cured within 30 days after a Responsible Officer of the Trustee receives written notice of such default. If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon Upon the appointment becoming effective, 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. The No successor Trustee shall send a notice accept appointment as provided in this Section 6.08 unless at the time of its succession to such appointment becoming effective such Person shall be eligible under the Holdersprovisions of Section 6.11. The retiring Trustee shall promptly transfer all property (including all Indenture Collateral) held by it as Trustee to the successor TrusteeTrustee and shall execute and deliver such instruments and such other documents as may reasonably be required to more fully and certainly vest and confirm in the successor Trustee all such rights, subject to the Lien provided for in Section 7.07. (d) powers, duties and obligations. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuer or the Holders of 10% in principal amount of the Securities Majority Noteholders may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 6.08, the Issuer’s obligations under Section 7.07 6.07 shall continue for the benefit of the retiring Trustee. Upon the appointment of a successor Trustee as provided in this Section 6.08, the successor Trustee shall mail notice of such succession hereunder at the expense of the Issuer to all Holders of Notes at their addresses as shown in the Note Register.

Appears in 2 contracts

Sources: Indenture (Hercules Capital, Inc.), Indenture (Hercules Capital, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuer, any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Interface Inc), Indenture (Installed Building Products, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities outstanding Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall or Holdings may remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. If the Trustee has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provide by, and subject to the provisions of, the TIA and this Indenture. To the extent permitted by the TIA, the Trustee shall not be deemed to have a conflicting interest by virtue of being a Trustee under this Indenture with respect to Notes of more than one series. (b) If the Trustee resigns, is removed by the Issuer or Holdings or by the Holders of a majority in principal amount of the Securities outstanding Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 or Holdings shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuer and Holdings. 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. The successor Trustee shall send mail a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities outstanding Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s and Holdings’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Intelsat LTD), Indenture (Intelsat LTD)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall may upon five Business Days’ notice remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail, or otherwise deliver in accordance with the procedures of the Depository, a notice of its succession to the Holdersholders. 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. The retiring (or removed) Trustee shall have no liability or responsibility for the actions or inaction of any successor Trustee. (d) If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 Article VII shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Talos Energy Inc.), Indenture (Talos Energy Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.09; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. 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 7.077.06. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA7.09, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 7.06 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (TAMINCO ACQUISITION Corp), Indenture (TAMINCO ACQUISITION Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.108.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.078.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuer, any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.108.10, unless the Trustee’s 's duty to resign is stayed as provided in Section 310(b) of the TIATIA ss.310(b), any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s 's obligations under Section 7.07 8.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Memc Electronic Materials Inc), Indenture (Memc Electronic Materials Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee upon 30 days advance written notice and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail (or otherwise deliver in accordance with the procedures of the Depository) a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Supplemental Indenture (Stars Group Inc.), Indenture (Stars Group Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerParent. The Holders holders of Notes of a majority in aggregate principal amount of the Securities Notes then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Parent shall remove the Trustee if: (ia) the Trustee fails to comply with Section 7.10; (iib) the Trustee is adjudged bankrupt or insolvent; (iiic) a receiver or other public officer takes charge of the Trustee or its property; or (ivd) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer Parent or by the Holders holders of Notes of a majority in aggregate principal amount of the Securities Notes then outstanding and such Holders holders of Notes do not reasonably promptly appoint a successor Trustee, 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 Parent shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerParent. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders of Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) . If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of Notes of 10% in aggregate principal amount of the Securities Notes then outstanding may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) any holder of the TIA, any Holder Notes who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this Section, the IssuerParent’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (PT Indosat TBK), Indenture (PT Indosat TBK)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities Notes outstanding and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall upon payment of its charges hereunder promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Graham Packaging Holdings Co), Indenture (Graham Packaging Holdings Co)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Issuer and the Trustee in writing and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s obligations under Section 7.07 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (FGL Holdings), Indenture (American Axle & Manufacturing Holdings Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s 's duty to resign is stayed as provided in TIA Section 310(b) of the TIA), any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers' obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (On Semiconductor Corp), Indenture (On Semiconductor Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (McGraw-Hill Interamericana, Inc.), Indenture (McGraw-Hill Global Education LLC)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Graftech International LTD), Indenture (Graftech International LTD)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany; provided, however, that no such resignation shall be effective until a successor Trustee has accepted its appointment pursuant to this Section 7.8. The Holders of a majority in aggregate principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Company shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.10; (ii2) the Trustee is adjudged bankrupt or insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer Company or by the Holders of a majority in aggregate principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer Company shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in aggregate principal amount of the Securities may petition petition, at the expense of the Issuer Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section TIA § 310(b) of the TIA), any Holder who has been a bona fide holder of a Security for at least six months Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the IssuerCompany’s obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Interstate Bakeries Corp/De/), Indenture (Interstate Bakeries Corp/De/)

Replacement of Trustee. (a) The Trustee may resign at any time with respect to one or all series of Notes by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent, or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.08. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Fourth Supplemental Indenture (Sunnova Energy International Inc.), Fourth Supplemental Indenture (Sunnova Energy International Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send deliver a notice of its succession to the Holdersholders. The retiring Trustee shall promptly transfer all property and records held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Vici Properties Inc.), Indenture (Vici Properties Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee, with the Issuers’ written consent, which consent will not be unreasonably withheld. The Issuer shall Issuers may remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. If the Trustee has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA and this Indenture. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor TrusteeTrustee with the Issuers’ written consent, which consent will not be unreasonably withheld, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holders. 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. (d) If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Albertsons Companies, Inc.), Indenture (Albertsons Companies, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuer in writing. The Holders of a majority in principal amount of the Securities outstanding Notes may remove the Trustee by so notifying the Issuer and the Trustee and may appoint a successor Trustee. The Issuer shall may remove the Trustee if: : (i) the Trustee fails to comply with Section 7.10; 6.10; (ii) the Trustee is adjudged bankrupt or insolvent; ; (iii) a receiver or other public officer takes charge of the Trustee or its property; or or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 "Retiring Trustee"), the Issuer shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon the resignation or removal of the retiring Retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 6.7. If a successor Trustee does not take office within 60 thirty (30) days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of not less than ten percent (10% %) in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA6.10, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 6.8, the Issuer’s 's obligations under Section 7.07 6.7 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Cardiac Science Inc), Indenture (Cardiac Science Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Issuers and the Trustee in writing and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.6. All costs reasonably incurred in connection with any resignation or removal hereunder shall be borne by the Issuers. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Securities Notes of any series may petition petition, at the expense of the Issuer Issuers’ expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s Issuers’ obligations under Section 7.07 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Ortho Clinical Diagnostics Holdings PLC), Indenture (Ortho Clinical Diagnostics Holdings PLC)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Issuers and the Trustee in writing and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.6. All costs reasonably incurred in connection with any resignation or removal hereunder shall be borne by the Issuers. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuers’ expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s Issuers’ obligations under Section 7.07 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (PPD, Inc.), Indenture (Atotech LTD)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Issuers and the Trustee in writing and may appoint a successor Trustee. The Issuer shall Issuers will remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, resigns or is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers will promptly appoint a successor Trustee. (c) A successor Trustee shall will deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. Thereupon the resignation or removal of the retiring Trustee shall will become effective, and the successor Trustee shall will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall send will mail a notice of its succession to the Holders. The retiring Trustee shall will promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.077.6. All costs reasonably incurred in connection with any resignation or removal hereunder will be borne by the Issuers. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10at least 10.0% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuers’ expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s Issuers’ obligations under Section 7.07 shall this Indenture will continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Neiman Marcus Group LTD Inc.), Indenture (Neiman Marcus Group LTD Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Company shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.10; (ii2) the Trustee is adjudged bankrupt or insolventinsolvent or an order for relief is entered with respect to any Bankruptcy Law; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) . If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s Company's obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Diagnostic Pathology Management Services Inc), Indenture (Winfred Berg Licensco Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany. The Holders of a majority in principal amount of the Securities Outstanding Notes may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Issuer Company shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, resigns or is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities Outstanding Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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 IndentureIndenture and the retiring Trustee shall assign to the successor Trustee its rights and obligations under the Collateral Trust Agreement. The successor Trustee shall send mail a notice of its succession to Holders and the HoldersCollateral Trustee. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.077.7. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Outstanding Notes may petition petition, at the expense of the Issuer Company's expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the Issuer’s Company's obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Grupo Iusacell Sa De Cv), Indenture (Grupo Iusacell Sa De Cv)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Company shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition petition, at the expense of the Issuer Company, any court of competent jurisdiction for the appointment of a successor TrusteeTrustee at the expense of the Company. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s 's duty to resign is stayed as provided in TIA Section 310(b) of the TIA), any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Company's obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Pierson Industries Inc), Indenture (Uniplast Industries Co)

Replacement of Trustee. (a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.07. (b) The Trustee may resign in writing at any time and be discharged from the trust hereby created by so notifying the IssuerIssuers. The Holders of a majority in aggregate principal amount of the Securities then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing, and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent, or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (iiiii) a receiver or other public officer takes charge of the Trustee or its property; or (iviii) the Trustee otherwise becomes incapable of acting. (bc) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (cd) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send a notice of its succession to the Holders. 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 7.077.06. (de) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in aggregate principal amount of the Securities then outstanding Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 7.06 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Tenneco Inc), Indenture (Tenneco Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying and be discharged from the trust hereby created upon 30 days' prior notice to the Issuer. The Holders of a majority in principal amount at maturity of the Securities Notes outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount at maturity of the Securities Notes outstanding and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall shall, upon payment of its charges hereunder, promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount at maturity of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s 's duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s 's obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Rural Metro Corp /De/), Indenture (Rural Metro Corp /De/)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall Issuers may upon five Business Days’ notice remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail, or otherwise deliver in accordance with the procedures of the Depository, a notice of its succession to the Holdersholders. 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. The retiring (or removed) Trustee shall have no liability or responsibility for the actions or inaction of any successor Trustee. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s Issuers’ obligations under Section 7.07 Article VII shall continue for the benefit of the retiring Trustee.

Appears in 2 contracts

Sources: Indenture (Muzak Capital, LLC), Indenture (Muzak Capital, LLC)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers; provided that such resignation shall not be effective until a successor is appointed. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.107.10 of this Indenture or fails to qualify as Book-Entry Depositary pursuant to Section 3.07 of the Debenture Depositary Agreement; (ii2) the Trustee is adjudged bankrupt or insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. Trustee (c) subject to the preceding paragraph). A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) . If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Company's obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (NSM Steel Co LTD)

Replacement of Trustee. (a) The Trustee may resign at ---------------------- any time by so notifying the IssuerCompany. The Holders of a majority in principal amount of the Securities Outstanding Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Company shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.10;; ------------ (ii2) the Trustee is adjudged bankrupt or insolventinsolvent under any Bankruptcy Law; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, resigns or is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities Outstanding Notes and such Holders or the Company do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the HoldersNoteholders. The retiring Trustee shall promptly transfer transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.7, all ----------- property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07.7.7. ----------- (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Securities Outstanding Notes may petition petition, at the expense of the Issuer Company's expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months Noteholder ------------ may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Company's obligations under Section 7.07 7.7 shall continue for the ----------- benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Global Imaging Systems Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany. The Holders holders of a majority in principal amount of the Securities Debentures then outstanding hereunder determined in accordance with Section 8.04 may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Company shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Company or by the Holders holders of a majority in principal amount of the Securities Debentures then outstanding hereunder determined in accordance with Section 8.04 and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 sixty (60) days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, at the Company's expense, or the Holders holders of 10% in principal amount of the Securities Debentures then outstanding hereunder determined in accordance with Section 8.04 may petition at the expense of the Issuer Company any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s 's duty to resign is stayed as provided in Section 310(b) of the TIATrust Indenture Act, any Holder holder who has been a bona fide holder of a Security Debenture for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Company's obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Millennium Chemicals Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany in writing. The Holders of a majority in principal amount of the outstanding Securities may remove the Trustee by so notifying the Company and the Trustee and may appoint a successor TrusteeTrustee with the consent of the Company, which shall not be unreasonably withheld. The Issuer Company shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.10; (ii2) the Trustee is adjudged bankrupt or insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer Company or by the Holders of a majority in principal amount of the outstanding Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the outstanding Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the Issuer’s Company's obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Telex Communications Inc)

Replacement of Trustee. (a) No resignation or removal of the Trustee, and no appointment of a successor Trustee, will become effective until the acceptance of appointment by the successor Trustee pursuant to this Section 12.7. The Trustee may resign at any time by so notifying the Issuer, the Collateral Manager and the Investor Agent. The Holders of a majority in principal amount of Investor Agent or the Securities Required Investors may remove the Trustee without cause by so notifying the Trustee Trustee, the Collateral Manager and the Issuer and may appoint a successor Trustee. Following the removal or resignation of any Person in the capacity of the Trustee, which will only be effective and occur upon the acceptance of appointment by the successor Trustee pursuant to this Section 12.7, the obligations of such Person in such capacity will terminate (except for any obligations required to be performed prior to such termination). (b) The Issuer shall must, and the Investor Agent may, remove Trustee, by written notice of such removal to the Trustee Trustee, if: (i) the Trustee fails to comply with Section 7.1012.10; (ii) an Insolvency Proceeding occurs with respect to the Trustee is adjudged bankrupt or insolventTrustee; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) as evidenced by an opinion of counsel delivered to the Collateral Manager, the Issuer and the Investor Agent, the Trustee becomes legally unable to act or otherwise becomes incapable of actingacting as the Trustee. (bc) If the Trustee resigns, gives notice of intention to resign or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein in this Note Purchase Agreement as the retiring Trustee), the Issuer Investor Agent (with the consent of the Issuer, which consent shall promptly not be unreasonably withheld or delayed) may appoint a successor Trustee. (cd) A Any successor Trustee shall must execute and deliver a written acceptance of its appointment to the retiring Trustee and to Trustee, the Issuer. Thereupon , the Collateral Manager, the Investor Agent and each Hedge Counterparty and thereupon the resignation or removal of the retiring Trustee shall will become effective, and the such successor Trustee shall will have all the rights, powers powers, duties and duties obligations of the Trustee under this IndentureNote Purchase Agreement and the other Financing Documents. The Issuer will pay all amounts owed to the retiring Trustee upon the retiring Trustee’s resignation or removal. The successor Trustee shall send will deliver a notice of its succession to the HoldersInvestors. The retiring Trustee shall will promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. (de) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuer or the Holders of 10% in principal amount of the Securities Investor Agent may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 12.7, the Issuer’s obligations of the Issuer under Section 7.07 shall 12.6 will continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Note Purchase Agreement (NewStar Financial, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee under this Indenture and the Securities to the successor Trustee, subject to the Lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (New Holding, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuer in writing. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and the Issuer in writing and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (ia) the Trustee fails to comply with Section 7.10; (iib) the Trustee is adjudged bankrupt or insolvent; (iiic) a receiver or other public officer takes charge of the Trustee or its property; or (ivd) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send a notice of its succession to the HoldersSecurityholders. 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. (d) . If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in aggregate principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) Trustee at the expense of the Issuer. If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s and Guarantors’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Second Supplemental Indenture (Univar Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail, or otherwise deliver in accordance with the procedures of the Depository, a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (EP Energy Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Issuers and the Trustee in writing and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.6. All costs reasonably incurred in connection with any resignation or removal hereunder shall be borne by the Issuers. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10at least 10.0% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuers’ expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s Issuers’ obligations under Section 7.07 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Axalta Coating Systems Ltd.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany in writing. The Holders Noteholders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Company and the Trustee and may appoint a successor TrusteeTrustee with the consent of the Company, which shall not be unreasonably withheld. The Issuer Company shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.108.10; (ii2) the Trustee is adjudged bankrupt or insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer Company or by the Holders Noteholders of a majority in principal amount of the Securities Notes and such Holders Noteholders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the HoldersNoteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 8.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders Noteholders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA8.10, any Holder who has been a bona fide holder of a Security for at least six months Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Company's obligations under Section 7.07 8.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Senior Working Capital Credit Agreement (Primacom Ag)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying with 30 days notice to the IssuerCompany. The Holders of a majority in principal amount of the Securities then outstanding, may remove the Trustee by so notifying with 30 days written notice to the Trustee and the Company and may appoint a successor Trustee. The Issuer Company shall remove the Trustee if: : (i) the Trustee fails to comply with Section 7.10; ; (ii) the Trustee is adjudged bankrupt or insolvent; ; (iii) a receiver or other public officer takes charge of the Trustee or its property; or or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the HoldersSecurityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.7. If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the Issuer’s Company's obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee. 21 27 SECTION 7.9.

Appears in 1 contract

Sources: Indenture (Menasco Aerosystems Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany. The Holders of a majority in principal amount of the Securities Outstanding Notes may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Issuer Company shall remove the Trustee if: (iA) the Trustee fails to comply with Section 7.10; (iiB) the Trustee is adjudged bankrupt or insolvent; (iiiC) a receiver or other public officer takes charge of the Trustee or its property; or (ivD) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, resigns or is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities Outstanding Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided that all sums owing to the Trustee hereunder have been paid and subject to the Lien lien provided for in Section 7.077.7. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns Trus▇▇▇ ▇▇▇igns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Outstanding Notes may petition petition, at the expense of the Issuer Company's expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the Issuer’s Company's obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Covanta Energy Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee under this Indenture and the Securities to the successor Trustee, subject to the Lien provided for in Section 7.07. (d) If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Merger Agreement

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuers or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Mallinckrodt PLC)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerIssuers. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee upon 30 days advance written notice and may appoint a successor Trustee. The Issuer Issuers shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Issuers or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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 Issuers shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerIssuers. 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. The successor Trustee shall send mail (or otherwise deliver in accordance with the procedures of the Depository) a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer Issuers any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s Issuers’ obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Garrett Motion Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying with 30 days notice to the Issuer. The Holders of a majority in principal amount of the Securities Notes then outstanding, may remove the Trustee by so notifying with 30 days notice to the Trustee and the Issuer and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.its

Appears in 1 contract

Sources: Indenture (Spectrasite Holdings Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall may remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. If the Trustee has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provide by, and subject to the provisions of, the TIA and this Indenture. To the extent permitted by the TIA, the Trustee shall not be deemed to have a conflicting interest by virtue of being a Trustee under this Indenture with respect to Notes of more than one series. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s 's duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s 's obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Intelsat LTD)

Replacement of Trustee. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee shall become effective until the appointment of a successor Trustee pursuant to this Section 6.08 has become effective. The Trustee may resign at any time by so notifying the Issuer, the Trust Depositor and the Servicer. The Holders of a majority in principal amount Majority Noteholders or the Issuer, with the written consent of the Securities Majority Noteholders, may remove the Trustee by so notifying the Trustee and the Rating Agencies in writing and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.106.11; (ii) the Trustee is adjudged a bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or; (iv) the Trustee otherwise becomes incapable of acting.; or (bv) the Trustee defaults in any of its obligations under the Transaction Documents and such default is not cured within 30 days after a Responsible Officer of the Trustee receives written notice of such default. If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon Upon the appointment becoming effective, 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. No successor Trustee shall accept appointment as provided in this Section 6.08 unless at the time of such appointment becoming effective such Person shall be eligible under the provisions of Section 6.11. The successor Trustee shall send mail a notice of its succession to the HoldersNoteholders. The retiring Trustee shall promptly transfer all property (including all Indenture Collateral) held by it as Trustee to the successor TrusteeTrustee and shall execute and deliver such instruments and such other documents as may reasonably be required to more fully and certainly vest and confirm in the successor Trustee all such rights, subject to the Lien provided for in Section 7.07. (d) powers, duties and obligations. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Issuer or the Holders of 10% in principal amount of the Securities Majority Noteholders, may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA6.11, any Holder who has been a bona fide holder of a Security for at least six months Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 6.08, the Issuer’s obligations under Section 7.07 6.07 shall continue for the benefit of the retiring Trustee. Upon the appointment of a successor Trustee as provided in this Section 6.08, the successor Trustee shall mail notice of such succession hereunder at the expense of the Issuer to all Holders of Notes at their addresses as shown in the Note Register.

Appears in 1 contract

Sources: Indenture (NewStar Financial, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Issuer and the Trustee in writing and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.6. All costs reasonably incurred in connection with any resignation or removal hereunder shall be borne by the Issuer. The retiring or removed Trustee shall have no responsibility or liability for the action or inaction of any successor Trustee. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10at least 10.0% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s obligations under Section 7.07 Article 7 shall continue for the benefit of the retiring Trusteeor removed Trustee or for the benefit of the Trustee or any removed or retiring Trustee following termination of this Indenture. (b) Any Agent may resign its appointment upon not less than 30 days’ notice to the Issuer; provided, however, that: (i) if such resignation would otherwise take effect less than 30 days before or after the maturity date or other date for redemption of the Notes or any interest payment date in relation to the Notes, such resignation will not take effect until the 30th day following such date; (ii) such resignation shall not take effect until a successor has been duly appointed by the Issuer, and notice of such appointment has been given to the Holders. (c) If any Agent gives notice of its resignation in accordance with Section 7.7(b) and a successor thereto has not been duly appointed by the Issuer by the 10th day before the expiry of such notice, such Agent may itself, following such consultation with the Issuer as is practicable in the circumstances, appoint as its successor any reputable and experienced financial institution and give notice of such appointment to the Issuer, the other Agents and the Holders, whereupon the Issuer, the other Agents and the successor appointed pursuant to this Section 7.7(c) shall acquire and become subject to the same rights and obligations between themselves as if they had entered into an agreement in the form mutatis mutandis of this Indenture. None of Section 7.7(b) or Section 7.7(c) shall apply to the Trustee acting in any such Agent capacities.

Appears in 1 contract

Sources: Indenture (Allison Transmission Holdings Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany. The Holders of a majority in principal amount of the Securities Outstanding Notes may remove the Trustee by so notifying the Trustee and may appoint a successor TrusteeTrustee reasonably acceptable to the Company. The Issuer Company shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, resigns or is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities Outstanding Notes and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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 IndentureIndenture and the retiring Trustee shall assign to the successor Trustee its rights and obligations under the Collateral Trust Agreement. The successor Trustee shall send mail a notice of its succession to Holders and the HoldersCollateral Trustee. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.077.7. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Outstanding Notes may petition petition, at the expense of the Issuer Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the IssuerCompany’s obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Grupo Iusacell Sa De Cv)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany. The Holders of a majority in principal amount of the Securities then Outstanding Notes may remove the Trustee by so notifying the Company and the Trustee and may appoint a successor Trusteein writing not less than thirty (30) days prior to the effective date of such removal. The Issuer Company shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.106.10; (ii2) the Trustee is adjudged bankrupt or insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities Outstanding Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall give or send a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.076.07. (d) If a successor Trustee ▇▇▇▇▇▇▇ does not take office within 60 thirty (30) days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of 10% in aggregate principal amount of the Securities then Outstanding Notes may petition petition, at the expense of the Issuer Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA6.10, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 6.08, the IssuerCompany’s obligations under Section 7.07 6.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Cemex Sab De Cv)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal aggregate amount outstanding of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal aggregate amount outstanding of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send transmit a notice in accordance with Section 10.01 of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal aggregate amount outstanding of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, 7.10 any Holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Delhaize Group)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee upon 30 days advance written notice and may appoint a successor Trustee. The Issuer shall remove the Trustee if: : (i) the Trustee fails to comply with Section 7.10; ; (ii) the Trustee is adjudged bankrupt or insolvent; ; (iii) a receiver or other public officer takes charge of the Trustee or its property; or or (iv) the Trustee otherwise becomes incapable of acting.. 109 (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail (or otherwise deliver in accordance with the procedures of the Depository) a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.. SECTION

Appears in 1 contract

Sources: Indenture (Hexion Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany; PROVIDED, HOWEVER, no such resignation shall be effective until a successor Trustee has accepted its appointment pursuant to this Section 6.8. The Holders of a majority in principal amount aggregate Principal Amount of the Outstanding Securities at the time outstanding may remove the Trustee with respect to the Securities by so notifying the Trustee and may appoint a successor Trustee, which successor Trustee shall, in the absence of an Event of Default, be reasonably acceptable to the Company. The Issuer Company shall remove the Trustee if: (ia) the Trustee fails to comply with Section 7.106.10; (iib) the Trustee is adjudged bankrupt or insolvent; (iiic) a receiver or other public officer takes charge of the Trustee or its property; or (ivd) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (reason, with respect to the Trustee in such event being referred to herein as the retiring Trustee)Securities of one or more series, the Issuer Company shall promptly appoint appoint, by resolution of its Board of Directors, a successor Trustee. Trustee with respect to the Securities of that or those series (c) A it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any series). In the case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. Thereupon Thereupon, the resignation or removal of the retiring Trustee shall become effective, effective and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall send mail or electronically transmit a notice of its succession to Holders of Securities of the Holdersparticular series with respect to which such successor Trustee has been appointed. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. 6.7. In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (dbut not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees as co-Trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, subject, nevertheless, to its lien, if any, provided for in Section 6.7. If a successor Trustee with respect to the Securities of any series does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, the Company or the Holders of 10% a majority in principal amount aggregate Principal Amount of the Outstanding Securities of such series at the time outstanding may petition petition, at the expense of the Issuer Company, any court of competent jurisdiction for the appointment of a successor Trustee. (e) Trustee with respect to the Securities of such series. If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA6.10, any Holder who has been a bona fide holder of a Security for at least six months of such series may petition any court of competent jurisdiction for the removal of the such Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Semble, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time upon at least 30 days’ notice by so notifying the IssuerCompany in writing. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Company and the Trustee in writing and may appoint a successor Trustee. The Issuer Company shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.9; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.6. All costs reasonably incurred in connection with any such resignation or removal hereunder shall be borne by the Company. 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 Company or the Holders of 10at least 10.0% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the IssuerCompany’s obligations under Section 7.07 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Lannett Co Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Issuer and the Trustee in writing and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.107.7; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities Notes and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) 7.6. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the Securities Notes may petition petition, at the expense of the Issuer Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.107.9, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIAstayed, any Holder who has been a bona fide holder of a Security for at least six months ▇▇▇▇▇▇ may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.7, the Issuer’s obligations under Section 7.07 7.6 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (American Axle & Manufacturing Holdings Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall may upon five Business Days’ notice remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail, or otherwise deliver in accordance with the procedures of the Depository, a notice of its succession to the Holdersholders. 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. The retiring (or removed) Trustee shall have no liability or responsibility for the actions or inaction of any successor Trustee. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 Article VII shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Talos Energy Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Mariner, LLC)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying time. Any successor Trustee shall resign if it ceases to be eligible in accordance with the Issuerprovisions of Section 7.09. The Holders of a majority in principal amount In either case, the resignation of the Securities may remove Trustee shall become effective, and the resigning Trustee shall be discharged from its obligations with respect to the Pass-Through Pools created under this Agreement by so notifying giving 90 days’ written notice of the Trustee resignation to the Depositor, the Guarantor and may appoint a successor Trustee. The Issuer shall remove the Trustee if:Administrator and upon the effectiveness of (i) the Trustee fails to comply with Section 7.107.09; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. . If at any time a Trustee Event of Default has occurred and is continuing, the Guarantor (bor if an Event of Default has occurred and is continuing, the Depositor) may, and if directed by the acting holders, shall, remove the Trustee as to such Pass-Through Pool and appoint a successor Trustee by written instrument, one copy of which shall be delivered to the Trustee so removed and one copy of which shall be delivered to the successor Trustee, and the Guarantor (or if an Event of Default has occurred and is continuing, the Depositor) shall give written notice of the successor Trustee to the Holders affected by the succession. Notwithstanding the termination of the Trustee, its liability under this Agreement arising prior to such termination will survive such termination. If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer Depositor shall promptly appoint a successor Trustee that satisfies the eligibility requirements of Section 7.09. The retiring Trustee agrees to cooperate with ▇▇▇▇▇▇▇ Mac and any successor Trustee in effecting the termination of the retiring Trustee. (c) ’s responsibilities and rights hereunder and shall promptly provide such successor Trustee all documents and records reasonably requested by it to enable it to assume the Trustee’s functions hereunder. A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerDepositor, the Guarantor and the Administrator. 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 IndentureAgreement with respect to such Pass-Through Pool. The successor Trustee shall send mail a notice of its succession to the related Holders. 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. (d) . If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities Depositor may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Pass Through Certificates Master Trust Agreement

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee upon 30 days advance written notice and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail (or otherwise deliver in accordance with the procedures of the Depository) a notice of its succession to the Holdersholders. 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. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (SeaWorld Entertainment, Inc.)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany in writing. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the removed Trustee in writing and may appoint a successor TrusteeTrustee with the Company’s written consent, which consent will not be unreasonably withheld. The Issuer Company shall remove the Trustee if: (i1) the Trustee fails to comply with Section 7.10; (ii2) the Trustee is adjudged bankrupt or insolvent; (iii3) a receiver or other public officer takes charge of the Trustee or its property; or (iv4) the Trustee otherwise becomes incapable of actingacting as trustee hereunder. (b) If the Trustee resigns, resigns or is removed by the Issuer Company or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor TrusteeTrustee as described in Section 7.8(a), or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer Company shall promptly appoint a successor Trustee. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the HoldersSecurityholders. The retiring Trustee Trustee, upon payment of its charges hereunder, shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in under Section 7.07. (d) 7.7. If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of at least 10% in principal amount of the outstanding Securities may petition petition, at the expense of the Issuer Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. (ed) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section TIA § 310(b) of the TIA), any Holder Securityholder, who has been a bona fide holder of a Security for at least six months months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (fe) Notwithstanding the replacement of the Trustee pursuant to this SectionSection 7.8, the IssuerCompany’s obligations under Section 7.07 7.7 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (Eye Care Centers of America Inc)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the IssuerCompany. The Holders of a majority in aggregate principal amount of the Securities then outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer Company shall remove the Trustee if: (ia) the Trustee fails to comply with Section 7.10; (iib) the Trustee is adjudged bankrupt or insolvent; (iiic) a receiver or other public officer takes charge of the Trustee or its property; or (ivd) the Trustee otherwise becomes incapable of acting. (b) . If the Trustee resigns, is removed by the Issuer Company or by the Holders of a majority in aggregate principal amount of the Securities then outstanding and such Holders do not reasonably promptly appoint a successor Trustee, 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 Company shall promptly appoint a successor Trustee. (c) . A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the IssuerCompany. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien lien provided for in Section 7.07. (d) . If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in aggregate principal amount of the Securities then outstanding may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) . If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder Holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) . Notwithstanding the replacement of the Trustee pursuant to this Section, the IssuerCompany’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (National CineMedia, LLC)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders holders of a majority in principal amount of the Securities Notes may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: (i) the Trustee fails to comply with Section ‎Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, is removed by the Issuer or by the Holders holders of a majority in principal amount of the Securities Notes and such Holders holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holdersholders. 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 ‎Section 7.07. (d) If a successor Trustee does not take office within 60 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders holders of 10% in principal amount of the Securities Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section ‎Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder holder who has been a bona fide holder of a Security Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section ‎Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (TopBuild Corp)

Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in aggregate principal amount of the outstanding Securities may remove the Trustee by so notifying the Issuer and the Trustee in writing and may appoint a successor Trustee. The Issuer Issuer, by a resolution of the Board of Directors, shall remove the Trustee if: (i) the Trustee fails to comply with Section 7.10; (ii) the Trustee is adjudged bankrupt or insolvent; (iii) a receiver or other public officer takes charge of the Trustee or its property; or (iv) the Trustee otherwise becomes incapable of acting. (b) If the Trustee resigns, resigns or is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, 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. (c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. 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. The successor Trustee shall send mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee under this Indenture and the Securities to the successor Trustee, subject to the Lien provided for in Section 7.07. (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee Trustee, at the expense of the Issuer, or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. (e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Security for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. (f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.

Appears in 1 contract

Sources: Indenture (New Holding, Inc.)