Notice of Successor Owner Trustee Clause Samples
The Notice of Successor Owner Trustee clause establishes the requirement for formally notifying relevant parties when a new owner trustee is appointed. Typically, this clause outlines the process by which notice must be given, such as specifying the timeframe, the method of delivery, and the parties who must be informed, like beneficiaries or servicers. Its core function is to ensure all stakeholders are promptly aware of changes in trust administration, thereby maintaining transparency and continuity in the management of trust assets.
Notice of Successor Owner Trustee. In the case of any appointment of a successor to the Owner Trustee pursuant to the Trust Agreement including upon any merger, conversion, consolidation or sale of substantially all of the corporate trust business of the Owner Trustee pursuant to the Trust Agreement, the successor Owner Trustee shall give prompt written notice thereof to the Mortgagee, Lessee and the Note Holders.
Notice of Successor Owner Trustee. 64 Section 12.02. Resignation and Removal of Indenture Trustee; Appointment of Successor............................... 64 Section 12.03. Persons Eligible for Appointment as Indenture Trustee... 65 Section 12.04. Acceptance of Appointment by Successor Trustee.......... 65 Section 12.05. Merger, Conversion, Consolidation or Succession to Business of Indenture Trustee.......................... 66 Section 12.06.
Notice of Successor Owner Trustee. 29 Section 9.02. Resignation of Indenture Trustee; Appointment of Successor.... 29
Notice of Successor Owner Trustee. In the case of any appointment of a successor to the institution acting as Owner Trustee pursuant to the Trust Agreement (including upon any merger, conversion, consolidation, or sale of substantially all of the corporate trust business of the institution acting as Owner Trustee pursuant to the Trust Agreement), the successor institution shall give prompt written notice thereof to Loan Trustee, Lessee, and the Note Holders.
Notice of Successor Owner Trustee. SECTION 8.02. Resignation of Indenture Trustee; Appointment of Successor. . . . . . . . . . 62 SECTION 8.03. Appointment of Additional and Separate Trustees.. . . . . . . . . . . . . . . . . . 64