Appointment of Administrators. (a) The Administrators (other than the initial Administrators) shall be appointed by the Holders of a Majority in Liquidation Amount of the Common Securities and all Administrators (including the initial Administrators) may be removed by the Holders of a Majority in Liquidation Amount of the Common Securities or may resign at any time. Each Administrator shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrator, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrators.
Appears in 24 contracts
Samples: Trust Agreement (American Safety Insurance Group LTD), Trust Agreement (Sman Capital Trust 1), Trust Agreement (GCB Capital Trust)
Appointment of Administrators. (a) The Administrators (other than the initial Administrators) shall be appointed by the Holders of a Majority in Liquidation Amount of the Common Securities and all Administrators (including the initial Administrators) may be removed by the Holders of a Majority in Liquidation Amount of the Common Securities or may resign at any time. Each Administrator shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrator, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrators.
Appears in 4 contracts
Samples: Trust Agreement (Allegiant Bancorp Inc), Trust Agreement (Allegiant Capital Trust I), Trust Agreement (Northeast Bancorp /Me/)
Appointment of Administrators. (a) The Administrators (other than the initial Administrators) shall be appointed by the Holders of a Majority in Liquidation Amount of the Common Securities and all Administrators (including the initial Administrators) may be removed by the Holders of a Majority in Liquidation Amount of the Common Securities or may resign at any time. Upon any resignation or removal, the Depositor shall appoint a successor Administrator. Each Administrator shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrator, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrators.
Appears in 4 contracts
Samples: Trust Agreement (First Empire Capital Trust I), Trust Agreement (First Empire State Corp), Trust Agreement (Jeffbanks Inc)
Appointment of Administrators. (a) The Administrators (other than the initial Administrators) shall initially be appointed by the Holders of a Majority in Liquidation Amount of the Common Securities Xxxxxx X. Xxxxxx and all Administrators (including the initial Administrators) Xxxxx X. Xxxxxx, and may resign or be may be removed by the Holders of a Majority in Liquidation Amount of the Common Securities or may resign at any time. Upon any resignation or removal, the Depositor shall appoint a successor Administrator. Each Administrator shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrator, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrators.
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