Designation and Qualification of Successor Trustees. At any time during the term of the Trust Agreements, ZionSolutions shall have the right, with respect to the Trust(s),to remove the Trustee acting under the Trust Agreements and appoint another qualified entity as a successor trustee upon 60 days’ notice in writing to the Trustee, or upon such shorter notice as may be acceptable to the Trustee. Any Trustee shall have the right to resign at any time upon 60 days’ notice in writing to ZionSolutions for the affected Trust(s) and upon such resignation ZionSolutions shall appoint another qualified entity as a successor Trustee for the Trust(s). Any successor Trustee shall qualify by a duly acknowledged acceptance of the Trust Agreements, the Trusts created thereunder and these Master Terms, delivered to ZionSolutions. Upon acceptance of such appointment by the successor Trustee, the Trustee shall transfer to such successor Trustee the Trust Fund. Any successor Trustee shall have all the rights, powers, duties and obligations herein granted to the original Trustee. If for any reason ZionSolutions is unable to or does not appoint a successor Trustee within 90 days after the resignation or removal of the Trustee for the Trust(s) as provided above, ZionSolutions, or the Trustee may apply to a court of competent jurisdiction for the appointment of a successor Trustee.
Designation and Qualification of Successor Trustees. The Settlor has appointed a corporate fiduciary having all requi site corporate power and authority to act as the sole original Trustee. At any time during the term of this Trust, the Settlor shall have the right to remove the corporate Trustee acting here under and appoint another qualified corporation as a successor trustee upon seven (7) days' notice in writing to the Trustee, or upon such shorter notice as may be acceptable to the Trustee. In the event that any corporate trustee shall (i) become insolvent or admit in writing its insolvency, (ii) be unable to or admit in writing its inability to pay its debts as they mature, (iii) make a general assignment for the benefit of creditors, (iv) have an involuntary petition in bankruptcy filed against it, (v) commence a case under or otherwise seek to take advantage of any bank ruptcy, reorganization, insolvency, readjustment of debt, dissolu tion or liquidation law, statute, or proceeding, or (vi) resign, the Trustee shall cease to act and the Settlor shall appoint a successor Trustee. Any successor to the Settlor, as provided herein, shall have the same right to remove and to appoint any Trustee. Any successor Trustee shall qualify by a duly acknowl edged acceptance of this Trust, delivered to the Settlor. Upon acceptance of such appointment by the successor Trustee, the Trustee shall assign, transfer, and pay over to such successor Trustee the funds and properties then constituting the Trust Fund. Any successor Trustee shall have all the rights, powers, duties, and obligations herein granted to the original Trustee. Any successor Trustee shall be under no obligation to inquire into or seek an audit or court approval of the administra tion or accounts of any predecessor and shall be free of liability for the acts or omissions of such predecessors. If for any reason the Settlor cannot or does not act in the event of the resignation or removal of the Trustee, as pro vided above, the Trustee may apply to a court of competent jurisdiction for the appointment of a successor Trustee. Any expenses incurred by the Trustee in connection therewith shall be deemed to be expenses of administration payable in accordance with Section 4.1 hereof. The Settlor shall notify the Secretary of the PSCW of any changes of Trustee.
Designation and Qualification of Successor Trustees. (a) At any time during the term of this Trust, the Company shall have the right to remove the Trustee (at the Company's sole discretion) acting hereunder and appoint another qualified entity as a successor Trustee upon thirty (30) days' notice in writing to the Trustee, or upon such shorter notice as may be acceptable to the Trustee. In the event that the bank or trust company serving as Trustee or successor Trustee shall: (i) become insolvent or admit in writing its insolvency; (ii) be unable or admit in writing its inability to pay its debts as such debts mature; (iii) make a general assignment for the benefit of creditors; (iv) have an involuntary petition in bankruptcy filed against it; (v) commence a case under or otherwise seek to take advantage of any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law, statute, or proceeding; or (vi) resign, the Company shall appoint a successor Trustee as soon as practicable. In the event of any such removal or resignation, the Trustee or successor Trustee shall have the right to have its accounts finalized as provided in Section 6.05. Any successor to the Company, as provided herein, shall have the same right to remove and to appoint any Trustee or successor Trustee.
Designation and Qualification of Successor Trustees. The Settlor has appointed a corporate fiduciary having all requisite corporate power and authority to act as the sole original Trustee. At any time during the term of this Trust, the Settlor shall have the right to remove the corporate Trustee acting hereunder and appoint another qual ified corporation as a successor Trustee upon thirty (30) days' notice in writing to the Trustee, or upon such shorter notice as may be acceptable to the Trustee. In the event that any corporate trustee shall (i) become insolvent or admit in writing its insolvency, (ii) be unable or admit in writing its inability to pay its debts as they mature, (iii) make a general assignment for the benefit of creditors, (iv) have an involuntary petition in bankruptcy filed against it,
