Common use of Authority to Appoint Clause in Contracts

Authority to Appoint. For the purpose of meeting any legal requirements of any jurisdiction in which any part of a Trust Fund or property securing it may at the time be located, Xxxxxx Mae and the Trustee acting jointly will have the power to execute and deliver all instruments necessary to appoint a Person approved by the Trustee to act jointly with the Trustee as co-trustee, or to appoint a separate trustee for any part of the related Trust Fund, and to vest in that Person, in its trustee capacity, legal title to that part of the Trust Fund, and those powers, duties, obligations, rights and trusts as Xxxxxx Xxx and the Trustee consider necessary or desirable, subject to the other provisions of this Section 9.09 and consistent with the Q-Trust Documents. No co-trustee or separate trustee will be required, however, to meet the terms of eligibility as a successor Trustee under Section 9.05. Except as specifically provided in the first sentence of this Section 9.09(a), the Trustee will have no other right to appoint a co-trustee.

Authority to Appoint. For the purpose of meeting any legal requirements of any jurisdiction in which any part of a Trust Fund or property securing it may at the time be located, Xxxxxx Mae Xxx and the Trustee acting jointly will have the power to execute and deliver all instruments necessary to appoint a Person approved by the Trustee to act jointly with the Trustee as co-trustee, or to appoint a separate trustee for any part of the related Trust Fund, and to vest in that Person, in its trustee capacity, legal title to that part of the Trust Fund, and those powers, duties, obligations, rights and trusts as Xxxxxx Xxx and the Trustee consider necessary or desirable, subject to the other provisions of this Section 9.09 and consistent with the QI-Trust Documents. No co-trustee or separate trustee will be required, however, to meet the terms of eligibility as a successor Trustee under Section 9.05. Except as specifically provided in the first sentence of this Section 9.09(a), the Trustee will have no other right to appoint a co-trustee.

Authority to Appoint. For the purpose of meeting any legal requirements of any jurisdiction in which any part of a Trust Fund or property securing it may at the time be located, Xxxxxx Mae and the Trustee acting jointly will have the power to execute and deliver all instruments necessary to appoint a Person approved by the Trustee to act jointly with the Trustee as co-trustee, or to appoint a separate trustee for any part of the related Trust Fund, and to vest in that Person, in its trustee capacity, legal title to that part of the Trust Fund, and those powers, duties, obligations, rights and trusts as Xxxxxx Xxx and the Trustee consider necessary or desirable, subject to the other provisions of this Section 9.09 and consistent with the QI-Trust Documents. No co-trustee or separate trustee will be required, however, to meet the terms of eligibility as a successor Trustee under Section 9.05. Except as specifically provided in the first sentence of this Section 9.09(a), the Trustee will have no other right to appoint a co-trustee.

Authority to Appoint. For the purpose of meeting any legal requirements of any jurisdiction in which any part of a Trust Fund or property securing it may at the time be located, Xxxxxx Mae Xxx and the Trustee acting jointly will have the power to execute and deliver all instruments necessary to appoint a Person approved by the Trustee to act jointly with the Trustee as co-trustee, or to appoint a separate trustee for any part of the related Trust Fund, and to vest in that Person, in its trustee capacity, legal title to that part of the Trust Fund, and those powers, duties, obligations, rights and trusts as Xxxxxx Xxx and the Trustee consider necessary or desirable, subject to the other provisions of this Section 9.09 and consistent with the Q-Trust Documents. No co-trustee or separate trustee will be required, however, to meet the terms of eligibility as a successor Trustee under Section 9.05. Except as specifically provided in the first sentence of this Section 9.09(a), the Trustee will have no other right to appoint a co-trustee.