Removal of Reclamation Trust Funds Operating Agent Sample Clauses

Removal of Reclamation Trust Funds Operating Agent. The Reclamation Trust‌ Funds Operating Agent may be removed by the Parties, if, in the judgment of the Parties, their best interests require such removal. Any Party seeking the removal of the Reclamation Trust Funds Operating Agent will serve a notice on each of the Parties, detailing the reasons why, in the judgment of the initiating Party, the Reclamation Trust Funds Operating Agent should be removed. Within thirty (30) days after receipt by the Reclamation Trust Funds Operating Agent of this written statement, the Reclamation Trust Funds Operating Agent will prepare and serve upon the Parties its response, which will contain a detailed rebuttal of the allegations made in the initiating statement. Within the same thirty (30) day period, any other Party may also serve upon the Reclamation Trust Funds Operating Agent and the Parties a statement responding to the allegations in the initiating statement. Within twenty (20) days after service of all such response statements, the Parties will meet to consider what actions, if any, to take in regard to the removal of the Reclamation Trust Funds Operating Agent. The Reclamation Trust Funds Operating Agent may be removed by the vote of more than a sixty-six and two thirds percent (66 2/3%) majority of the Pre-2017YE Reclamation Shares of the Parties and more than a sixty-six and two thirds percent (66 2/3%) majority of the number of individual Parties; provided, however, that the representative of the Reclamation Trust Funds Operating Agent will not be entitled to vote on such removal, and the requisite voting percentages will be based upon the new number of eligible voting Parties and their respective Reclamation Shares. If the Reclamation Trust Funds Operating Agent is removed by vote of the Parties, the Reclamation Oversight Committee will convene promptly to address the selection of a replacement Reclamation Trust Funds Operating Agent which may, but need not, be a Party.
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Related to Removal of Reclamation Trust Funds Operating Agent

  • Removal of Trustee The Trustee may be removed at any time, by an instrument or concurrent instruments in writing delivered (a) to the Trustee and to the Issuer and the Company, and signed by the owners of a majority in aggregate principal amount of Bonds then Outstanding, or (b) to the Trustee and the owners of all Bonds then Outstanding, and signed by the Issuer and the Company.

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