Acceptance of appointment by successor sponsor trustee
Acceptance of Appointment by Successor Sponsor Trustee Sample Clauses
Acceptance of Appointment by Successor Sponsor Trustee. Any successor Sponsor Trustee appointed hereunder shall execute an instrument accepting such appointment hereunder and shall deliver one counterpart, in case of a resignation, to the retiring Sponsor Trustee. Thereupon such successor Sponsor Trustee shall, without any further act, become vested with all the estates, properties, rights, powers, trusts, and duties of its predecessor in the Trust hereunder with like effect as if originally named therein; but the retiring Sponsor Trustee shall nevertheless, when requested in writing by the successor Sponsor Trustee, execute and deliver an instrument or instruments conveying and transferring to such successor Sponsor Trustee upon the trust herein expressed, all the estates, properties, rights, powers, and trusts of such retiring Sponsor Trustee and shall duly assign, transfer, and deliver to such successor Sponsor Trustee all property and money of the Trust held by such Sponsor Trustee hereunder.