Common use of Resignation by Trustee, Paying Agents Clause in Contracts

Resignation by Trustee, Paying Agents. Authenticating Agents, Deposit Agents and Depositaries. The Trustee, any Paying Agent, any Authenticating Agent, any Deposit Agent and any Depositary may at any time resign from the trusts and be discharged of the duties and obligations hereby created by giving sixty (60) days' written notice to the Corporation and, in the case of the Trustee, a Paying Agent, an Authenticating Agent or a Depositary, by first-class mail to all Noteholders and Other Beneficiaries and such resignation shall take effect upon the appointment of a successor trustee, paying agent, authenticating agent or depositary. No such resignation of the Trustee shall become effective until the acceptance of appointment by a successor trustee under Section 7.8 hereof. Upon the appointment and acceptance of a successor trustee, authenticating agent, paying agent, deposit agent or depositary, the Trustee shall promptly cause written notice of such appointment to be given to all Noteholders and Other Beneficiaries in the manner provided in Section 13.4 hereof, which notice shall include the address of the Principal Office of such successor. If an instrument of acceptance by a successor trustee, paying agent, authenticating agent, deposit agent or depositary shall not have been delivered to the resigning Trustee, Paying Agent, Authenticating Agent, Deposit Agent or Depositary within sixty (60) days after the giving of such notice of resignation, the resigning Trustee, Paying Agent, Authenticating Agent, Deposit Agent or Depositary may petition any court of competent jurisdiction for the appointment of a successor and any attorneys' fees incurred in connection with any such petition shall be payable by the Corporation.

Resignation by Trustee, Paying Agents. Authenticating ----------------------------------------------------- Agents, Deposit Agents and Depositaries. The Trustee, any Paying Agent, any --------------------------------------- Authenticating Agent, any Deposit Agent and any Depositary may at any time resign from the trusts and be discharged of the duties and obligations hereby created by giving sixty (60) days' written notice to the Corporation and, in the case of the Trustee, a Paying Agent, an Authenticating Agent or a Depositary, by first-class mail to all Noteholders and Other Beneficiaries and such resignation shall take effect upon the appointment of a successor trustee, paying agent, authenticating agent or depositary. No such resignation of the Trustee shall become effective until the acceptance of appointment by a successor trustee under Section 7.8 hereof. Upon the appointment and acceptance of a successor trustee, authenticating agent, paying agent, deposit agent or depositary, the Trustee shall promptly cause written notice of such appointment to be given to all Noteholders and Other Beneficiaries in the manner provided in Section 13.4 hereof, which notice shall include the address of the Principal Office of such successor. If an instrument of acceptance by a successor trustee, paying agent, authenticating agent, deposit agent or depositary shall not have been delivered to the resigning Trustee, Paying Agent, Authenticating Agent, Deposit Agent or Depositary within sixty (60) days after the giving of such notice of resignation, the resigning Trustee, Paying Agent, Authenticating Agent, Deposit Agent or Depositary may petition any court of competent jurisdiction for the appointment of a successor and any attorneys' fees incurred in connection with any such petition shall be payable by the Corporation.of

Resignation by Trustee, Paying Agents. Authenticating Agents, Deposit Agents and Depositaries. The Trustee, any Paying Agent, any Authenticating Agent, any Deposit Agent and any Depositary may at any time resign from the trusts and be discharged of the duties and obligations hereby created by giving sixty (60) days' written notice to the Corporation and, in the case of the Trustee, a Paying Agent, an Authenticating Agent or a Depositary, by first-class mail to all Noteholders and Other Beneficiaries and such resignation shall take effect upon the appointment of a successor trustee, paying agent, authenticating agent or depositary. No such resignation of the Trustee shall become effective until the acceptance of appointment by a successor trustee under Section 7.8 hereof. Upon the appointment and acceptance of a successor trustee, authenticating agent, paying agent, deposit agent or depositary, the Trustee shall promptly cause written notice of such appointment to be given to all Noteholders and Other Beneficiaries in the manner provided in Section 13.4 hereof, which notice shall include the address of the Principal Office of such successor. If an instrument of acceptance by a successor trustee, paying agent, authenticating agent, deposit agent or depositary shall not have been delivered to the resigning Trustee, Paying Agent, Authenticating Agent, Deposit Agent or Depositary within sixty (60) days after the giving of such notice of resignation, the resigning Trustee, Paying Agent, Authenticating Agent, Deposit Agent or Depositary may petition any court of competent jurisdiction for the appointment of a successor and any attorneys' fees incurred in connection with any such petition shall be payable by the Corporation.of