Common use of Auction Agent Clause in Contracts

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee in connection with Auctions. The Trustee will enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writing. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer and the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then Outstanding, and if by such Certificateholders, by an instrument signed by the Insurer or such Certificateholders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market Agent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Greenpoint Credit LLC), Pooling and Servicing Agreement (Greenpoint Credit LLC)

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Auction Agent. (a) Bankers Trust Company is hereby has been appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with AuctionsAuctions with respect to the Auction Rate Notes. The Indenture Trustee will enter has entered into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as is approved by the Indenture Trustee and the Market Calculation Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Indenture by giving at least 90 days' notice to the Indenture Trustee, the Insurer, the Class R Certificateholders, the Servicer Issuer and the Market Calculation Agent. The Auction Agent may be removed at any time by the Indenture Trustee upon the written direction of the Insurer, or, with the written consent an Authorized Officer of the Insurer, Issuer or the Certificateholders Holders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Auction Rate Notes then Outstanding, and if by such Certificateholdersthe Holders, by an instrument signed by the Insurer or such Certificateholders Holders or their attorneys and filed with the Auction Agent, the ServicerIssuer, the Class R Certificateholders, the Market Agent Indenture Trustee and the Trustee Calculation Agent upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding Issuer or by the Market Calculation Agent, with the Issuer's consent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 fifteen (15) days after notifying the Indenture Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Issuer and the Market Calculation Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Terms Supplement (Student Loan Funding LLC)

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee in connection with Auctions. The Trustee will enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer and the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, or the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Auction Certificates then Outstanding, and if by such Certificateholders, by an instrument signed by the Insurer or such Certificateholders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Auction Certificates then outstanding or by the Market Agent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenpoint Credit Manufactured Housing Cont Tru Ser 2001-2)

Auction Agent. (a) Bankers IBJ Whitehall Bank & Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed, to enter into the Initial initial Auction Agent Agency Agreement with Bankers Trust CompanyIBJ WHITEHALL BANK & TRUST COMPANY, as the Initial initial Auction Agent. Any Substitute substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgency Agreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Third Terms Supplement by giving at least 90 days' , notice to the Trustee, the InsurerIssuer, the Class R Certificateholders, the Servicer and the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, the Certificateholders Note Owners of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates 1999-I Notes (and any subsequently issued Series of Notes, but in no event less than 66-2/3% of the aggregate principal amount of any Senior Notes) then Outstanding, and if by such Certificateholdersoutstanding, by an instrument signed by the Insurer or such Certificateholders Note Owners or their attorneys and filed with the Auction Agent, the Servicer, the Class R CertificateholdersIssuer, the Market Agent and the Trustee upon at least 90 days' , notice. The Auction Agent may be removed by the Issuer in its sole discretion at any time. Neither resignation nor removal of the Auction Agent pursuant to the preceding two three sentences shall be effective until and unless a Substitute substitute Auction Agent who is reasonably acceptable to the Trustee has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding Issuer or by the Market Agent, with the Trustee's consent, a Substitute substitute Auction Agent Agency Agreement shall be entered into with a Substitute substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agency Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Issuer and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agency Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

Auction Agent. (a) Bankers IBJ Whitehall Bank & Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed, to enter into the Initial initial Auction Agent Agency Agreement with Bankers IBJ Whitehall Bank & Trust Company, Company as the Initial initial Auction Agent. Any Substitute substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., Inc. having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgency Agreement. The Auction Agent may may, at any time time, resign and be discharged of the duties and obligations created by these Auction Procedures this Second Terms Supplement by giving at least 90 days' , notice to the Trustee, the InsurerIssuer, the Class R Certificateholders, the Servicer and the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, the Certificateholders Note Owners of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates 1999 Notes (and any subsequently issued Series of Notes, but in no event less than 66-2/3% of the aggregate principal amount of any Senior Notes) then Outstanding, and if by such Certificateholdersoutstanding, by an instrument signed by the Insurer or such Certificateholders Note Owners or their attorneys and filed with the Auction Agent, the Servicer, the Class R CertificateholdersIssuer, the Market Agent and the Trustee upon at least 90 days' , notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding Issuer or by the Market Agent, with the Trustee's consent, a Substitute substitute Auction Agent Agency Agreement shall be entered into with a Substitute substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agency Agreement if, within 25 days after notifying the Trustee, the InsurerIssuer, the Servicer, the Holder of the Class R Certificates and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agency Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

Auction Agent. (a) Bankers Trust Company is hereby appointed ____________ shall serve as Initial the initial Auction Agent to serve as agent for the Trustee in connection with AuctionsAuction Rate Notes. The Trustee will is hereby directed to enter into an agreement with the Initial Auction Agent Agreement with Bankers Trust Company, which shall provide as the Initial Auction Agent. Any Substitute follows: The Auction Agent shall be (i) a bank, national banking association bank or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, in The City of New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or stock, surplus and undivided profits of at least $50,000,00040,000,000, or and (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, 40,000,000 and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgency Agreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures the Indenture by giving at least 90 days' written notice to the TrusteeIssuer, the Insurer, the Class R Certificateholders, the Servicer Trustee and the Market AgentAgent (30 days' written notice if the Auction Agent has not been paid its fee for more than 30 days). The Auction Agent may be removed at any time by the Trustee upon if the written Auction Agent is an entity other than the Trustee, acting at the direction of (i) the Insurer, or, with Administrator or (ii) the written consent of the Insurer, the Certificateholders holders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then Outstanding, and if by such CertificateholdersAuction Rate Notes, by an instrument signed by the Insurer or such Certificateholders or their attorneys Trustee and filed with the Auction Agent, the Servicer, the Class R Certificateholders, Issuer and the Market Agent and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed; provided that, has been approved in writing by the Insurer and has accepted such appointment. If if required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market Agent, a Substitute an agreement in substantially the form of the Auction Agent Agency Agreement shall be entered into with a Substitute successor Auction Agent. Notwithstanding If the foregoingAuction Agent and the Trustee are the same entity, the Auction Agent may terminate be removed as described above, with the Auction Agent Agreement if, within 25 days after notifying Issuer acting in lieu of the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Indenture (National Collegiate Funding LLC)

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Representative in connection with Auctions. The Trustee will will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Certificate Insurer in writing. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures by giving at least 90 days' notice to the Trustee, the InsurerRepresentative, the Class R Certificateholders, the Servicer Certificate Insurer and the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Certificate Insurer, or, or with the written consent of the Certificate Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Auction Rate Certificates then Outstanding, and if by such Certificateholders, by an instrument signed by the Certificate Insurer or such Certificateholders or their attorneys and filed with the Auction Agent, the Servicer, the Class R CertificateholdersRepresentative, the Market Agent and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Certificate Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Auction Rate Certificates then outstanding or by the Market Agent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the InsurerRepresentative, the Servicer, the Holder of the Class R Certificates Certificate Insurer and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment. If the Auction Agent shall resign or be removed or be dissolved, or if the property or affairs of the Auction Agent shall be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, the Trustee, at the direction of the Representative and the Certificate Insurer (after receipt of a certificate from the Market Agent confirming that any proposed Substitute Auction Agent meets the requirements described in the immediately preceding paragraph), shall use its best efforts to appoint a Substitute Auction Agent. The Auction Agent is acting as agent for the Representative in connection with Auctions. In the absence of bad faith or negligence on its part, the Auction Agent shall not be liable for any action taken, suffered or omitted in good faith or for any error of judgment made by it in the performance of its duties under the Auction Agent Agreement. The Auction Agent shall not be liable for any error of judgment made in good faith unless the Auction Agent shall have been negligent in ascertaining the pertinent facts. In the event of a change in the Auction Agent Fee Rate pursuant to Section 6.4(b) of the Auction Agent Agreement, the Auction Agent shall give a Notice of Fee Rate Change to the Trustee, the Certificate Insurer and the Representative in accordance with the Auction Agent Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Contimortgage Home Equity Trust 1998-1)

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed to, enter into the Initial initial Auction Agent Agency Agreement with Bankers Trust Company, as the Initial initial Auction Agent. Any Substitute substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, York or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., Inc. having a capitalization of at least $50,000,000, and, and in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgency Agreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Fourth Terms Supplement by giving at least 90 days' notice to the Trustee, the InsurerIssuer, the Class R Certificateholders, the Servicer and the Market AgentAgents. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, the Certificateholders Note Owners of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates 2000 Notes (and any subsequently issued Series of Notes, but in no event less than 66-2/3% of the aggregate principal amount of any Senior Notes) then Outstanding, and if by such Certificateholdersoutstanding, by an instrument signed by the Insurer or such Certificateholders Note Owners or their attorneys and filed with the Auction Agent, the ServicerIssuer, the Class R Certificateholders, the applicable Market Agent and the Trustee upon at least 90 days' , notice. The Auction Agent may be removed by the Issuer in its sole discretion at any time. Neither resignation nor removal of the Auction Agent pursuant to the preceding two three sentences shall be effective until and unless a Substitute substitute Auction Agent who is reasonably acceptable to the Trustee has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, Issuer or the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the applicable Market Agent, with the Trustee's consent, a Substitute substitute Auction Agent Agency Agreement shall be entered into with a Substitute substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agency Agreement if, within 25 days after notifying the Trustee, the InsurerIssuer, the Servicer, the Holder of the Class R Certificates and the applicable Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agency Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Fourth Terms Supplement (Emt Corp)

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Corporation in connection with Auctions. The Trustee will and the Corporation will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this First Supplemental Indenture by giving at least 90 ninety (90) days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer Market Agent and the Market AgentCorporation. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent an Authorized Officer of the Insurer, Corporation or the Certificateholders Holders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Series 1999-1 Senior Notes then Outstanding (or, if no Series 1999-1 Senior Notes are then Outstanding, and the Holders of 66-2/3% of the aggregate principal amount of the Series 1999-1C Notes then Outstanding)], and, if by such CertificateholdersHolders, by an instrument signed by the Insurer or such Certificateholders Holders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Corporation and the Trustee upon at least 90 ninety (90) days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective unless and until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. However, if a successor Auction Agent shall not have been appointed within sixty (60) days from the date of a notice of resignation, the resigning Auction Agent may petition any court of competent jurisdiction for the appointment of a successor Auction Agent. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentCorporation, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 twenty-five (25) days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Market Agent and the Market Agent Corporation in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Education Loans Inc /De

Auction Agent. (aPursuant to Section 6.14(iv) Bankers of this Indenture, Computershare Trust Company is hereby Company, Inc. has been appointed as the Initial Auction Agent to serve as agent for the Trustee Issuing Entity in connection with Auctions. The Trustee will enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall will be (i) a bank, national banking association bank or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Indenture Trustee (at the direction of the Depositor) and the Market Calculation Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., Inc. having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder under the Indenture and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures the Indenture by giving at least 90 days' days notice to the Indenture Trustee, the Insurer, the Class R Certificateholders, the Servicer Depositor and the Market Calculation Agent. The Auction Agent may be removed at any time by the Indenture Trustee upon the written direction of the Insurer, or, with the written consent Administrator on behalf of the InsurerIssuing Entity, or the Certificateholders Registered Owners of at least 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Auction Rate Securities then Outstanding, and if by such Certificateholdersoutstanding, by an instrument signed by the Insurer or such Certificateholders noteholders or their attorneys and filed with the Auction Agent, the ServicerIssuing Entity, the Class R Certificateholders, the Market Agent Indenture Trustee and the Trustee Calculation Agent upon at least 90 days' days notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall will be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, Issuing Entity or the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market Calculation Agent, a Substitute Auction Agent Agreement shall will be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 45 days after notifying the Indenture Trustee, the Insurer, the Servicer, the Holder Administrator on behalf of the Class R Certificates Issuing Entity and the Market Calculation Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment. If the Auction Agent should resign or be removed or be dissolved, or if the property or affairs of the Auction Agent will be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, the Indenture Trustee, at the direction of the Administrator on behalf of the Issuing Entity (after receipt of a certificate from the Issuing Entity's financial advisor confirming that any proposed Substitute Auction Agent meets the requirements described in the preceding paragraph above), is required to use its best efforts to appoint a Substitute Auction Agent.

Appears in 1 contract

Samples: Servicing Agreement (Origen Manufactured Housing Contract Trust Collateralized Notes, Series 2006-A)

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed to, enter into the Initial initial Auction Agent Agency Agreement with Bankers Trust Company, Company as the Initial initial Auction Agent. Any Substitute substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, York or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., Inc. having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgency Agreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Fifth Terms Supplement by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer Issuer and the Market AgentAgents. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, the Certificateholders Note Owners of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates 2000-I Notes (and any subsequently issued Series of Notes, but in no event less than 66-2/3% of the aggregate principal amount of any Senior Notes) then Outstanding, and if by such Certificateholdersoutstanding, by an instrument signed by the Insurer or such Certificateholders Note Owners or their attorneys and filed with the Auction Agent, the ServicerIssuer, the Class R Certificateholders, the applicable Market Agent and the Trustee upon at least 90 days' , notice. The Auction Agent may be removed by the Issuer in its sole discretion at any time. Neither resignation nor removal of the Auction Agent pursuant to the preceding two three sentences shall be effective until and unless a Substitute substitute Auction Agent who is reasonably acceptable to the Trustee has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, Issuer or the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the applicable Market Agent, with the Trustees consent, a Substitute substitute Auction Agent Agency Agreement shall be entered into with a Substitute substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agency Agreement if, within 25 days after notifying the Trustee, the InsurerIssuer, the Servicer, the Holder of the Class R Certificates and the applicable Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agency Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee in connection with Auctions. The Trustee will enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer and the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, or the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 A Certificates then Outstanding, and if by such Certificateholders, by an instrument signed by the Insurer or such Certificateholders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 A Certificates then outstanding or by the Market Agent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenpoint Credit LLC)

Auction Agent. (aPursuant to Section 6.14(iv) Bankers of this Indenture, Deutsche Bank Trust Company is hereby Americas has been appointed as the Initial Auction Agent to serve as agent for the Trustee Issuing Entity in connection with Auctions. The Trustee will enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall will be (i) a bank, national banking association bank or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Indenture Trustee (at the direction of the Depositor) and the Market Calculation Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., Inc. having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder under the Indenture and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures the Indenture by giving at least 90 days' days notice to the Indenture Trustee, the Insurer, the Class R Certificateholders, the Servicer Depositor and the Market Calculation Agent. The Auction Agent may be removed at any time by the Indenture Trustee upon the written direction of the Insurer, or, with the written consent Administrator on behalf of the InsurerIssuing Entity, or the Certificateholders Registered Owners of at least 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Auction Rate Securities then Outstanding, and if by such Certificateholdersoutstanding, by an instrument signed by the Insurer or such Certificateholders noteholders or their attorneys and filed with the Auction Agent, the ServicerIssuing Entity, the Class R Certificateholders, the Market Agent Indenture Trustee and the Trustee Calculation Agent upon at least 90 days' days notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall will be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, Issuing Entity or the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market Calculation Agent, a Substitute Auction Agent Agreement shall will be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 45 days after notifying the Indenture Trustee, the Insurer, the Servicer, the Holder Administrator on behalf of the Class R Certificates Issuing Entity and the Market Calculation Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment. If the Auction Agent should resign or be removed or be dissolved, or if the property or affairs of the Auction Agent will be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, the Indenture Trustee, at the direction of the Administrator on behalf of the Issuing Entity (after receipt of a certificate from the Issuing Entity's financial advisor confirming that any proposed Substitute Auction Agent meets the requirements described in the preceding paragraph above), is required to use its best efforts to appoint a Substitute Auction Agent.

Appears in 1 contract

Samples: Manufactured Housing Contract (Origen Residential Securities, Inc.)

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Corporation in connection with Auctions. The Trustee will and the Corporation will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this First Supplemental Indenture by giving at least 90 ninety (90) days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer Market Agent and the Market AgentCorporation. The Auction Agent with respect to the Tax Exempt Auction Rate Series 1997-1 Notes may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent an Authorized Officer of the Insurer, Corporation or the Certificateholders Holders of 66-2/3% of the aggregate principal amount Principal Amount of the Class A-3 Certificates Tax Exempt Auction Rate Series 1997-1 Notes then Outstanding, and and, if by such CertificateholdersHolders, by an instrument signed by the Insurer or such Certificateholders Holders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Corporation and the Trustee upon at least 90 ninety (90) days' notice. The Auction Agent with respect to the Taxable Auction Rate Series 1997-1 Notes may be removed at any time by the Trustee upon the written direction of an Authorized Officer of the Corporation or the Holders of 66-2/3% of the aggregate Principal Amount of the Taxable Auction Rate Series 1997-1 Notes then Outstanding, and, if by such Holders, by an instrument signed by such Holders or their attorneys and filed with the Auction Agent, the Corporation and the Trustee upon at least ninety (90) days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective unless and until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. However, if a successor Auction Agent shall not have been appointed within sixty (60) days from the date of a notice of resignation, the resigning Auction Agent may petition any court of competent jurisdiction for the appointment of a successor Auction Agent. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentCorporation, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 twenty-five (25) days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Market Agent and the Market Agent Corporation in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Education Loans Inc /De

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Indenture Trustee will shall enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as is approved by the Indenture Trustee and the Market Calculation Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Indenture by giving at least 90 days' notice to the Indenture Trustee, the Insurer, the Class R Certificateholders, the Servicer Issuer and the Market Calculation Agent. The Auction Agent may be removed at any time by the Indenture Trustee upon the written direction of the Insurer, or, with the written consent an Authorized Officer of the Insurer, Issuer or the Certificateholders Holders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Notes then Outstanding, and if by such Certificateholdersthe Holders, by an instrument signed by the Insurer or such Certificateholders Holders or their attorneys and filed with the Auction Agent, the ServicerIssuer, the Class R Certificateholders, the Market Agent Indenture Trustee and the Trustee Calculation Agent upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding Issuer or by the Market Calculation Agent, with the Issuer's consent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 fifteen (15) days after notifying the Indenture Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Issuer and the Market Calculation Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Student Loan Funding LLC

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Corporation in connection with Auctions. The Trustee will and the Corporation will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Second Supplemental Indenture by giving at least 90 ninety (90) days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer Market Agent and the Market AgentCorporation. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent an Authorized Officer of the Insurer, Corporation or the Certificateholders Holders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Series 2000-1 Senior Notes then Outstanding (or, if no Series 2000-1 Senior Notes are then Outstanding, and the Holders of 66-2/3% of the aggregate principal amount of the Series 2000-1C Notes then Outstanding), and, if by such CertificateholdersHolders, by an instrument signed by the Insurer or such Certificateholders Holders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Corporation and the Trustee upon at least 90 ninety (90) days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective unless and until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. However, if a successor Auction Agent shall not have been appointed within sixty (60) days from the date of a notice of resignation, the resigning Auction Agent may petition any court of competent jurisdiction for the appointment of a successor Auction Agent. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentCorporation, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 twenty-five (25) days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Market Agent and the Market Agent Corporation in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Education Loans Inc /De

Auction Agent. (a) Bankers Trust Company The Bank of New York is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Companythe Bank of New York, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this First Supplemental Indenture by giving at least 90 ninety (90) days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer each Market Agent and the Market AgentIssuer. The Auction Agent may be removed at any time by the Trustee upon the written direction of an Authorized Officer of the Insurer, Issuer or the Holders of 66 2/3% of the aggregate Principal Amount of the Series 2001 Senior Notes then Outstanding (or, with the written consent of the Insurerif there shall be no Series 2001A Notes Outstanding, the Certificateholders Holders of 66-2/3% of the aggregate principal amount Principal Amount of the Class A-3 Certificates then OutstandingSeries 2001B Subordinate Notes), and if by such CertificateholdersHolders, by an instrument signed by the Insurer or such Certificateholders Holders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Issuer and the Trustee upon at least 90 ninety (90) days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective unless and until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. However, if a Substitute Auction Agent shall not have been appointed within sixty (60) days from the date of a notice of resignation, the resigning Auction Agent may petition any court of competent jurisdiction for the appointment of a Substitute Auction Agent. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentIssuer, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 twenty-five (25) days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates each Market Agent and the Market Agent Issuer in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Collegiate Funding Services Inc

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Corporation in connection with Auctions. The Trustee will and the Corporation will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this First Supplemental Indenture by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer Market Agent and the Market AgentCorporation. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent an Authorized Officer of the Insurer, Corporation or the Certificateholders Holders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Series 1999-1 Senior Notes then Outstanding, and and, if by such CertificateholdersHolders, by an instrument signed by the Insurer or such Certificateholders Holders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Corporation and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective unless and until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. However, if a successor Auction Agent shall not have been appointed within 60 days from the date of a notice of resignation, the resigning Auction Agent may petition any court of competent jurisdiction for the appointment of a successor Auction Agent. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentCorporation, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 twenty-five (25) days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Market Agent and the Market Agent Corporation in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Education Loans Inc /De

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Corporation in connection with Auctions. The Trustee will and the Corporation will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Third Supplemental Indenture by giving at least 90 ninety (90) days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer Market Agent and the Market AgentCorporation. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent an Authorized Officer of the Insurer, Corporation or the Certificateholders Holders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Series 2001-1 Senior Notes then Outstanding (or, if no Series 2001-1 Senior Notes are then Outstanding, and the Holders of 66-2/3% of the aggregate principal amount of the Series 2001-1C Notes then Outstanding), and, if by such CertificateholdersHolders, by an instrument signed by the Insurer or such Certificateholders Holders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Corporation and the Trustee upon at least 90 ninety (90) days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective unless and until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. However, if a successor Auction Agent shall not have been appointed within sixty (60) days from the date of a notice of resignation, the resigning Auction Agent may petition any court of competent jurisdiction for the appointment of a successor Auction Agent. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentCorporation, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 twenty-five (25) days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Market Agent and the Market Agent Corporation in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Dealer Agreement (Education Loans Inc /De)

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Representative in connection with Auctions. The Trustee will will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Certificate Insurer in writing. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures by giving at least 90 days' notice to the Trustee, the InsurerRepresentative, the Class R Certificateholders, the Servicer Certificate Insurer and the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Certificate Insurer, or, or with the written consent of the Certificate Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Auction Rate Certificates then Outstanding, and if by such Certificateholders, by an instrument signed by the Certificate Insurer or such Certificateholders or their attorneys and filed with the Auction Agent, the Servicer, the Class R CertificateholdersRepresentative, the Market Agent and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Certificate Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Auction Rate Certificates then outstanding or by the Market Agent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the InsurerRepresentative, the Servicer, the Holder of the Class R Certificates Certificate Insurer and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Sub Servicing Agreement (Money Store Home Equity Corp)

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Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed to, enter into the Initial initial Auction Agent Agency Agreement with Bankers Trust Company, as the Initial initial Auction Agent. Any Substitute substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgency Agreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Sixth Terms Supplement by giving at least 90 days' notice to the Trustee, the InsurerIssuer, the Class R Certificateholders, the Servicer and the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, the Certificateholders Note Owners of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Notes (and any subsequently issued Series of Notes, but in no event less than 66-2/3% of the aggregate principal amount of any Senior Notes) then Outstanding, and if by such Certificateholdersoutstanding, by an instrument signed by the Insurer or such Certificateholders Note Owners or their attorneys and filed with the Auction Agent, the ServicerIssuer, the Class R Certificateholders, the applicable Market Agent and the Trustee upon at least 90 days' days notice. The Auction Agent may be removed by the Issuer in its sole discretion at any time. Neither resignation nor removal of the Auction Agent pursuant to the preceding two three sentences shall be effective until and unless a Substitute substitute Auction Agent who is reasonably acceptable to the Trustee has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, Issuer or the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the applicable Market Agent, with the Trustee's consent, a Substitute substitute Auction Agent Agency Agreement shall be entered into with a Substitute substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agency Agreement if, within 25 days after notifying the Trustee, the InsurerIssuer, the Servicer, the Holder of the Class R Certificates and the applicable Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agency Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee in connection with Auctions. The Trustee will enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer and the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, or the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 II A-2 Certificates then Outstanding, and if by such Certificateholders, by an instrument signed by the Insurer or such Certificateholders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the Schedule I-16 aggregate principal amount of the Class A-3 II A-2 Certificates then outstanding or by the Market Agent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenpoint Financial Corp)

Auction Agent. (ai) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (iA) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (iiB) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Appendix A by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer Market Agent and the Market AgentIssuer. The Auction Agent may be removed at any time by the Trustee upon the written direction of an Authorized Officer or the Insurer, or, with the written consent Registered Owners of the Insurer, the Certificateholders of 66-2/351% of the aggregate principal amount of the Class A-3 Certificates Auction Notes then Outstanding, and if by such CertificateholdersRegistered Owners, by an instrument signed by the Insurer or such Certificateholders Registered Owners or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Issuer and the Trustee upon at least 90 days' written notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentIssuer, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Market Agent and the Market Agent Issuer in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Indenture of Trust (Union Financial Services I Inc)

Auction Agent. (a) Bankers Trust Company [BAS Affiliate] is hereby appointed as Initial Auction Agent to serve as agent for the Trustee in connection with Auctions. The Trustee will enter into the Initial Auction Agent Agreement with Bankers Trust Company[BAS Affiliate], as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Auction Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer Trustee and the Market AgentDepositor. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, or the Certificateholders of [66-2/3% %] of the aggregate principal amount of the Class A-3 Auction Rate Certificates then Outstanding, and if by such Certificateholders, by an instrument signed by the Insurer or such Certificateholders or their attorneys and filed with the Auction Agent, the ServicerDepositor, the Class R Certificateholders, the Market Agent and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of [66-2/3% %] of the aggregate principal amount of the Class A-3 Auction Rate Certificates then outstanding or by the Market Auction Agent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Depositor and the Market Auction Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Bond Products Depositor LLC

Auction Agent. (ai) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Indenture Trustee will and the Issuer will, and the Indenture Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (iA) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Indenture Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (iiB) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Appendix A by giving at least 90 days' notice to the Indenture Trustee, the Insurer, the Class R Certificateholders, the Servicer each Broker-Dealer and the Market AgentIssuer. The Auction Agent may be removed at any time by the Indenture Trustee upon the written direction of an Authorized Officer or by the Insurer, or, with the written consent holders of the Insurer, the Certificateholders of 66-2/3% a majority of the aggregate principal amount of the Class A-3 Certificates Auction Rate Securities then Outstanding, and if by such CertificateholdersNoteholders, by an instrument signed by the Insurer or such Certificateholders Noteholders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Issuer and the Indenture Trustee upon at least 90 days' written notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentIssuer, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Indenture Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates each Broker-Dealer and the Market Agent Issuer in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: SLC Student Loan Receivables I Inc

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial On or before the effective date of a Conversion to an ARS Interest Period, or upon the resignation or removal of the Auction Agent, an Auction Agent shall be appointed by the School Board. At the time of Conversion of Series 2014A Certificates to serve as agent for ARS, the Trustee in connection with Auctions. The Trustee will Trustee, at the direction of the School Board shall enter into the Initial an Auction Agent Agreement with Bankers Trust Company, as the Initial an Auction Agent. Any Substitute An Auction Agent shall be (i) subject to the written approval of the Broker-Dealer, (ii) a bank, national banking association bank or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,00015,000,000, or (iiiii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,00015,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures the Series 2014A Trust Agreement by giving at least 90 days' ’ notice to the Trustee, the InsurerSchool Board, the Class R CertificateholdersCorporation, the Servicer and the Market AgentBroker-Dealers. The Auction Agent may be removed at any time by the Trustee Trustee, upon the written direction of (i) the InsurerSchool Board, or, with or (ii) the written consent of the Insurer, the Certificateholders ARS Beneficial Owners of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates portion represented by ARS then Outstanding, and if by such Certificateholdersoutstanding, by an instrument signed by the Insurer or such Certificateholders or their attorneys Trustee and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent and the Trustee School Board upon at least 90 30 days' ’ notice. Neither the resignation nor the removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market Agent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 45 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Trustee and the Market Agent School Board, in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment. The Trustee shall not be liable for any action taken, suffered or omitted by the Auction Agent.

Appears in 1 contract

Samples: Series 2014a Supplemental Trust Agreement

Auction Agent. (a) Bankers IBJ Schroder Bank & Trust Company is hereby appointed as Initial Auction Agent Auctiox Xxxxx to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed, to enter into the Initial initial Auction Agent Agreement with Bankers IBJ Schroder Bank & Trust Company, Company as the Initial initial Auction Agent. Any Substitute subxxxxxxx Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., Inc. having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this First Terms Supplement by giving at least 90 days' , notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer and Issuer the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, the Certificateholders Note Owners of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates 1998 Notes (and any subsequently issued Series of Notes, but in no event less than 66-2/3% of the aggregate principal amount of any Senior Notes) then Outstanding, and if by such Certificateholdersoutstanding, by an instrument signed by the Insurer or such Certificateholders Note Owners or their attorneys and filed with the Auction Agent, the Servicer, the Class R CertificateholdersIssuer, the Market Agent and the Trustee upon at least 90 days' , notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding Issuer or by the Market Agent, with the Trustee's consent, a Substitute substitute Auction Agent Agreement shall be entered into with a Substitute substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Issuer and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

Auction Agent. (a) Bankers Trust Company The Bank of New York is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Companythe Bank of New York, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Second Supplemental Indenture by giving at least 90 ninety (90) days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer each Market Agent and the Market AgentIssuer. The Auction Agent may be removed at any time by the Trustee upon the written direction of an Authorized Officer of the Insurer, Issuer or the Holders of 66 2/3% of the aggregate Principal Amount of the Series 2002 Senior Notes then Outstanding (or, with the written consent of the Insurerif there shall be no Series 2002A Notes Outstanding, the Certificateholders Holders of 66-2/3% of the aggregate principal amount Principal Amount of the Class A-3 Certificates then OutstandingSeries 2002B-2 Subordinate Notes), and if by such CertificateholdersHolders, by an instrument signed by the Insurer or such Certificateholders Holders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Issuer and the Trustee upon at least 90 ninety (90) days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective unless and until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. However, if a Substitute Auction Agent shall not have been appointed within sixty (60) days from the date of a notice of resignation, the resigning Auction Agent may petition any court of competent jurisdiction for the appointment of a Substitute Auction Agent. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentIssuer, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 twenty-five (25) days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates each Market Agent and the Market Agent Issuer in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Collegiate Funding Services Inc

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Indenture Trustee will and the Issuer will, and the Indenture Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Indenture Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this First Terms Supplement by giving at least 90 days' notice to the Indenture Trustee, the InsurerIssuer, the Class R Certificateholders, the Servicer Surety Provider and the Market Agent. The Auction Agent may be removed at any time by the Indenture Trustee upon the written direction of the InsurerSurety Provider, or, or with the written consent of the InsurerSurety Provider, the Certificateholders Noteholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Series 1997-1 Notes then Outstanding, and if by such CertificateholdersNoteholders, by an instrument signed by the Insurer Surety Provider or such Certificateholders Noteholders or their attorneys and filed with the Auction Agent, the Servicer, the Class R CertificateholdersIssuer, the Market Agent and the Indenture Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding Issuer or by the Market Agent, with the Trust's consent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Indenture Trustee, the InsurerIssuer, the Servicer, the Holder of the Class R Certificates Surety Provider and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Classnotes Inc

Auction Agent. (a) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee in connection with Auctions. The Trustee will enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer and the Market Agent. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent of the Insurer, or the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 A-2 Certificates then Outstanding, and if by such Certificateholders, by an instrument signed by the Insurer or such Certificateholders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 A-2 Certificates then outstanding or by the Market Agent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenpoint Credit LLC)

Auction Agent. (a) Bankers Trust Company ____________________________ is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company____________________________, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this _____ Supplement by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer each Market Agent and the Market AgentIssuer. The Auction Agent may be removed at any time by the Trustee upon the written direction of the Insurer, or, with the written consent an Authorized Officer of the Insurer, Issuer or the Certificateholders Holders of 66-2/3% of the aggregate principal amount Principal Amount of the Class A-3 Certificates Series 200_-_ Senior Notes then Outstanding (or, if there shall be no Series 200_-_ Senior Notes Outstanding, the Holders of 66-2/3% of the aggregate Principal Amount of the Series 200_-_ Subordinate Notes), and if by such CertificateholdersHolders, by an instrument signed by the Insurer or such Certificateholders Holders or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Issuer and the Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective unless and until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. However, if a Substitute Auction Agent shall not have been appointed within 60 days from the date of a notice of resignation, the resigning Auction Agent may petition any court of competent jurisdiction for the appointment of a Substitute Auction Agent. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentIssuer, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates each Market Agent and the Market Agent Issuer in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: College Loan Corp Trust I

Auction Agent. (ai) Bankers Trust Company is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Trustee will and the Issuer will, and the Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company, as the Initial Auction Agent. Any Substitute Auction Agent shall be (iA) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (iiB) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this Appendix A by giving at least 90 days' notice to the Trustee, the Insurer, the Class R Certificateholders, the Servicer Market Agent and the Market AgentIssuer. The Auction Agent may be removed at any time by the Trustee upon the written direction of an Authorized Officer or the Insurer, or, with the written consent Registered Owners of the Insurer, the Certificateholders of 66-2/351% of the aggregate principal amount of the Class A-3 Certificates Auction Rate Notes then Outstanding, and if by such CertificateholdersRegistered Owners, by an instrument signed by the Insurer or such Certificateholders Registered Owners or their attorneys and filed with the Auction Agent, the Servicer, the Class R Certificateholders, the Market Agent Issuer and the Trustee upon at least 90 days' written notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding or by the Market AgentIssuer, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Trustee, the Insurer, the Servicer, the Holder of the Class R Certificates Market Agent and the Market Agent Issuer in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Servicing Agreement (Union Financial Services I Inc)

Auction Agent. (a) Bankers Trust Company __________ is hereby appointed as Initial Auction Agent to serve as agent for the Trustee Issuer in connection with Auctions. The Indenture Trustee will and the Issuer will, and the Indenture Trustee is hereby directed to, enter into the Initial Auction Agent Agreement with Bankers Trust Company_____________, as the Initial Auction Agent. Any Substitute Auction Agent shall be (i) a bank, national banking association or trust company duly organized under the laws of the United States of America or any state or territory thereof having its principal place of business in the Borough of Manhattan, New York, or such other location as approved by the Indenture Trustee and the Market Agent in writing and having a combined capital stock or surplus of at least $50,000,000, or (ii) a member of the National Association of Securities Dealers, Inc., having a capitalization of at least $50,000,000, and, in either case, authorized by law to perform all the duties imposed upon it hereunder and under the Auction Agent Agreement and approved by the Insurer in writingAgreement. The Auction Agent may at any time resign and be discharged of the duties and obligations created by these Auction Procedures this _____ Terms Supplement by giving at least 90 days' notice to the Indenture Trustee, the InsurerIssuer, the Class R Certificateholders, the Servicer Surety Provider and the Market Agent. The Auction Agent may be removed at any time by the Indenture Trustee upon the written direction of the InsurerSurety Provider, or, or with the written consent of the InsurerSurety Provider, the Certificateholders Noteholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates Auction Rate Notes then Outstanding, and if by such CertificateholdersNoteholders, by an instrument signed by the Insurer Surety Provider or such Certificateholders Noteholders or their attorneys and filed with the Auction Agent, the Servicer, the Class R CertificateholdersIssuer, the Market Agent and the Indenture Trustee upon at least 90 days' notice. Neither resignation nor removal of the Auction Agent pursuant to the preceding two sentences shall be effective until and unless a Substitute Auction Agent has been appointed, has been approved in writing by the Insurer appointed and has accepted such appointment. If required by the Insurer, the Certificateholders of 66-2/3% of the aggregate principal amount of the Class A-3 Certificates then outstanding Issuer or by the Market Agent, with the Trust's consent, a Substitute Auction Agent Agreement shall be entered into with a Substitute Auction Agent. Notwithstanding the foregoing, the Auction Agent may terminate the Auction Agent Agreement if, within 25 days after notifying the Indenture Trustee, the InsurerIssuer, the Servicer, the Holder of the Class R Certificates Surety Provider and the Market Agent in writing that it has not received payment of any Auction Agent Fee due it in accordance with the terms of the Auction Agent Agreement, the Auction Agent does not receive such payment.

Appears in 1 contract

Samples: Transworld Insurance Co

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