Resignation of Security Trustee Sample Clauses

Resignation of Security Trustee. (a) The Security Trustee may resign and appoint one of its Affiliates as successor by giving notice to the other Parties (or to the Agent on behalf of the Lenders).

Resignation of Security Trustee. (a) The Security Trustee may resign and appoint one of its Affiliates as successor by giving notice to the other Parties (or to the Agent on behalf of the Lenders). (b) Alternatively the Security Trustee may resign by giving notice to the other Parties (or to the Agent on behalf of the Lenders) in which case the Majority Lenders may appoint a successor Security Trustee. (c) If the Majority Lenders have not appointed a successor Security Trustee in accordance with paragraph (b) above within 30 days after the notice of resignation was given, the Security Trustee (after consultation with the Agent) may appoint a successor Security Trustee. (d) The retiring Security Trustee shall, at its own cost, make available to the successor Security Trustee such documents and records and provide such assistance as the successor Security Trustee may reasonably request for the purposes of performing its functions as Security Trustee under the Finance Documents. (e) The Security Trustee’s resignation notice shall only take effect upon (i) the appointment of a successor and (ii) the transfer of all of the Transaction Security to that successor. (f) Upon the appointment of a successor, the retiring Security Trustee shall be discharged from any further obligation in respect of the Finance Documents but shall remain entitled to the benefit of Clauses 23 (Role of the Agent and the Arranger) and 24 (Role of Security Trustee). Its successor and each of the other Parties shall have the same rights and obligations amongst themselves as they would have had if such successor had been an original Party. (g) The Majority Lenders may, by notice to the Security Trustee, require it to resign in accordance with paragraph (b) above. In this event, the Security Trustee shall resign in accordance with paragraph (b) above.

Resignation of Security Trustee. The Security Trustee may resign without cause and be discharged from the trusts created hereby by delivering notice thereof, by registered or certified mail postage prepaid to the Company and all holders of the Notes at the time outstanding. Such resignation shall take effect immediately upon the appointment of a successor Security Trustee as provided inSS.SS.8.8 and 8.9. .

Resignation of Security Trustee. (a) The Security Trustee may resign and appoint one of its Affiliates as successor by giving notice to the other Parties (or to the Facility Agent on behalf of the Lenders). (b) Alternatively the Security Trustee may resign by giving notice to the other Parties, in which case the Majority Lenders may appoint a successor Security Trustee with the consent of the Obligors’ Agent (such consent not to be unreasonably withheld or delayed and such consent not being required in circumstances where an Event of Default has occurred and is continuing) such successor being a reputable and experienced bank or other financial institution with office in London. (c) If the Majority Lenders have not appointed a successor Security Trustee in accordance with paragraph (b) above within 30 days after notice of resignation was given, the Security Trustee may appoint a successor Security Trustee after consultation with the Facility Agent and the Obligors’ Agent such successor being a reputable and experienced bank or other financial institution with office in London. (d) The retiring Security Trustee shall, at its own cost, make available to the successor Security Trustee such documents and records and provide such assistance as the successor Security Trustee may reasonably request for the purposes of performing its functions as Security Trustee under the Finance Documents. (e) The Security Trustee’s resignation notice shall only take effect upon (i) the appointment of a successor and (ii) the transfer of all of the Transaction Security to that successor.

Resignation of Security Trustee. Its successor and each of the other Parties shall have the same rights and obligations amongst themselves as they would have had if such successor had been an original Party.

Resignation of Security Trustee. The Security Trustee may resign at any time by giving prior written notice without cause by giving at least 30 days’ prior written notice thereof to the Grantor, the Lenders and the Facility Agent (in each case at the address provided in accordance with Section 9.02). Any resignation by the Security Trustee pursuant to this Section 6.01 shall be in accordance with Section 7.9 of the Loan Agreement.

Resignation of Security Trustee. The Security Trustee may resign at any time by giving at least 30 days' notice (or such shorter period as the Borrower and the Administrative Agent may agree) to that effect to: (a) each Beneficiary at the time (if any) or the Administrative Agent; and (b) the Borrower.

Resignation of Security Trustee. 11.1 The Security Trustee may resign as such hereunder at any time without assigning any reason therefore by giving not less than ten days' prior written notice to that effect upon satisfaction in full of all liabilities under the Facility Documents (the "Liabilities") and at any other time by giving not less than thirty days' prior written notice to that effect to each of the other parties hereto; or a Relevant Agent (acting on the instructions of the Majority Senior Lenders and the Majority Senior Subordinated Lenders acting together) may at any time terminate the appointment of the Security Trustee hereunder by giving not less than sixty days' prior written notice to each of the other parties hereto, provided that no such resignation or termination shall be effective until (i) a successor to the Security Trustee is appointed in accordance with the succeeding provisions of this Clause 11, (ii) all of the Security and title to the Secured Assets and all of the Security Trustee's rights, benefits and obligations under the Facility Documents have been validly transferred to such successor; (iii) such successor has confirmed its agreement to be bound by the provisions of this Agreement and all other related agreements to which the Security Trustee is a party; and (iv) all amounts then due or owing to the Security Trustee (whether in respect of fees, costs, expenses or otherwise) have been duly paid and no other amounts are then outstanding to the Security Trustee hereunder. 11.2 If the Security Trustee gives notice of its resignation or its appointment is terminated pursuant to Clause 11.1, any reputable bank or other financial institution may be appointed as a successor to the Security Trustee by Majority Senior Lenders and Majority Senior Subordinated Lenders (acting together) but, if no such successor is so appointed within a reasonable time, the Security Trustee may appoint such a successor itself. 11.3 If a successor to the Security Trustee is appointed under the provisions of Clause 11.2, (i) the resigning Security Trustee shall be discharged from any further obligation hereunder but shall remain entitled to the benefit of the provisions of Clauses 5, 9, this Clause 11 and Clause 13 and (ii) such successor and each of the other parties hereto shall have the same rights and obligations amongst themselves as they would have had if such successor had been an original party hereto.

Resignation of Security Trustee. Subject to the provisions of this Clause 15, the Security Trustee may resign at any time without assigning any reason and without being responsible for any costs, charges or expenses occasioned by such resignation.