Common use of Appointment of Successor Collateral Trustee Clause in Contracts

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by the Controlling Priority Debt Representative. The Collateral Trustee will fulfill its obligations under this Agreement until a successor Collateral Trustee meeting the requirements of this Section 3.23 has accepted its appointment as Collateral Trustee and the provisions of Section 3.24 have been satisfied. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of the Borrower), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company:

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by the Controlling Priority Debt Representative. The Company; provided, however, that if the Collateral Trustee will fulfill its obligations under this Agreement until is removed pursuant to Section 6.1(b), a successor Collateral Trustee meeting may be appointed by an Act of Required Debtholders (and not by the requirements of this Section 3.23 has accepted its appointment as Collateral Trustee and the provisions of Section 3.24 have been satisfiedCompany). If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of the BorrowerCompany), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company:

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by the Controlling Priority Debt RepresentativeRepresentative (if the Controlling Priority Debt Representative is the Original Term Loan Agent, acting at the written direction of the Required Term Loan Lenders). The Collateral Trustee will fulfill its obligations under this Agreement until a successor Collateral Trustee meeting the requirements of this Section 3.23 has accepted its appointment as Collateral Trustee and the provisions of Section 3.24 have been satisfied. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of the Borrower), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: