Common use of Separate Trustee; Replacement of Trustee Clause in Contracts

Separate Trustee; Replacement of Trustee. The Partnership may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the Partnership. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Partnership shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or 44 Subordinated Indenture (4) the Trustee otherwise becomes incapable of acting.

Separate Trustee; Replacement of Trustee. The Partnership Company may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the PartnershipCompany. The Holders of a majority in aggregate principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Partnership Company shall remove the Trustee if: (1) the Trustee fails to comply with Section 7.10; (2) the Trustee is adjudged bankrupt or insolvent; (3) a receiver or other public officer takes charge of the Trustee or its property; or 44 Subordinated Indentureor (4) the Trustee otherwise becomes incapable of acting.

Separate Trustee; Replacement of Trustee. The Partnership Company may, but need not, appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign with respect to one or more or all series of Debt Securities at any time by giving notice to the PartnershipCompany. The Holders of a majority in principal amount of the Debt Securities of a particular series may remove the Trustee for such series and only such series by so notifying the Trustee and may appoint a successor Trustee. The Partnership Company shall remove the Trustee if: (1a) the Trustee fails to comply with Section 7.10; (2b) the The Trustee is adjudged bankrupt or insolvent; (3c) a receiver or other public officer takes charge of the Trustee or its property; or 44 Subordinated Indentureor (4d) the Trustee otherwise becomes incapable of acting.