Common use of QUALIFICATIONS OF MARKET AGENT Clause in Contracts

QUALIFICATIONS OF MARKET AGENT. The Market Agent shall be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Supplemental Indenture. The Market Agent may resign and be discharged of the duties and obligations created by this First Supplemental Indenture by giving at least thirty (30) days notice to the Corporation and the Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the Corporation, by an instrument signed by an Authorized Officer of the Corporation filed with the Market Agent and the Trustee at least thirty (30) days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent by the Corporation and the acceptance of such appointment by such successor market agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, and the Corporation shall not have appointed its successor as Market Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 13, shall be deemed to be the Market Agent for all purposes of this First Supplemental Indenture until the appointment by the Corporation of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Trustee additional duties other than as set forth herein.

Appears in 3 contracts

Samples: Dealer Agreement (Education Loans Inc /De), Education Loans Inc /De, Education Loans Inc /De

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QUALIFICATIONS OF MARKET AGENT. The Market Agent shall be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Third Supplemental Indenture. The Market Agent may resign and be discharged of the duties and obligations created by this First Third Supplemental Indenture by giving at least thirty (30) days notice to the Corporation and the Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the Corporation, by an instrument signed by an Authorized Officer of the Corporation filed with the Market Agent and the Trustee at least thirty (30) days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent by the Corporation and the acceptance of such appointment by such successor market agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, and the Corporation shall not have appointed its successor as Market Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 13, shall be deemed to be the Market Agent for all purposes of this First Third Supplemental Indenture until the appointment by the Corporation of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: Dealer Agreement (Education Loans Inc /De)

QUALIFICATIONS OF MARKET AGENT. The Market Agent shall ------------------------------ be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Supplemental Indenture. The Market Agent may resign and be discharged of the duties and obligations created by this First Supplemental Indenture by giving at least thirty (30) days notice to the Corporation and the Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the Corporation, by an instrument signed by an Authorized Officer of the Corporation filed with the Market Agent and the Trustee at least thirty (30) days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent by the Corporation and the acceptance of such appointment by such successor market agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, and the Corporation shall not have appointed its successor as Market Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 13, shall be deemed to be the Market Agent for all purposes of this First Supplemental Indenture until the appointment by the Corporation of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: Education Loans Inc /De

QUALIFICATIONS OF MARKET AGENT. The Market Agent shall be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Supplemental IndentureThird Terms Supplement. The Market Agent may resign and be discharged of the duties and obligations obligation created by this First Supplemental Indenture Third Terms Supplement by giving at least thirty (30) 30 days notice to the Corporation Issuer and the Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation Issuer and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the Corporation, Issuer by an instrument signed by an Authorized Officer of the Corporation Issuer, filed with the Market Agent and the Trustee at least thirty (30) 30 days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent Market Agent by the Corporation Issuer and the acceptance of such appointment by such successor market agentMarket Agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, Agent and the Corporation Issuer shall not have appointed its successor as Market Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 13Section, shall be deemed to be the Market Agent for all purposes of this First Supplemental Indenture Third Terms Supplement until the appointment by the Corporation Issuer of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

QUALIFICATIONS OF MARKET AGENT. The Market Agent shall be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Supplemental IndentureFourth Terms Supplement. The Market Agent may resign and be discharged of the duties and obligations obligation created by this First Supplemental Indenture Fourth Terms Supplement by giving at least thirty (30) days 30 days' notice to the Corporation Issuer and the Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation Issuer and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the Corporation, Issuer by an instrument signed by an Authorized Officer of the Corporation Issuer, filed with the Market Agent and the Trustee at least thirty (30) 30 days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent Market Agent by the Corporation Issuer and the acceptance of such appointment by such successor market agentMarket Agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, Agent and the Corporation Issuer shall not have appointed its successor as Market Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 13Section, shall be deemed to be the Market Agent for all purposes of this First Supplemental Indenture Fourth Terms Supplement until the appointment by the Corporation Issuer of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: Fourth Terms Supplement (Emt Corp)

QUALIFICATIONS OF MARKET AGENT. The Market Agent shall be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Supplemental Indenture_____ Terms Supplement. The Market Agent may resign and be discharged of the duties and obligations created by this First Supplemental Indenture _____ Terms Supplement by giving at least thirty (30) days 30 days' notice to the Corporation Issuer and the Indenture Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation Issuer and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the CorporationIssuer, by an instrument signed by an Authorized Officer of the Corporation Officer, filed with the Market Agent and the Indenture Trustee at least thirty (30) 30 days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent by the Corporation Issuer and the acceptance of such appointment by such successor market agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, Agent and the Corporation Issuer shall not have appointed its successor as Market Agent, the Indenture Trustee, notwithstanding the provisions of the first paragraph of this Section 13Section, shall be deemed to be the Market Agent for all purposes of this First Supplemental Indenture _____ Terms Supplement until the appointment by the Corporation Issuer of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Indenture Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: Transworld Insurance Co

QUALIFICATIONS OF MARKET AGENT. The Market Agent shall be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Supplemental IndentureTerms Supplement. The Market Agent may resign and be discharged of the duties and obligations created by this First Supplemental Indenture Terms Supplement by giving at least thirty (30) days 30 days' notice to the Corporation Issuer and the Indenture Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation Issuer and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the CorporationIssuer, by an instrument signed by an Authorized Officer of the Corporation Officer, filed with the Market Agent and the Indenture Trustee at least thirty (30) 30 days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent by the Corporation Issuer and the acceptance of such appointment by such successor market agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, Agent and the Corporation Issuer shall not have appointed its successor as Market Agent, the Indenture Trustee, notwithstanding the provisions of the first paragraph of this Section 13Section, shall be deemed to be the Market Agent for all purposes of this First Supplemental Indenture Terms Supplement until the appointment by the Corporation Issuer of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Indenture Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: Classnotes Inc

QUALIFICATIONS OF MARKET AGENT. The Market Agent shall be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Supplemental IndentureFifth Terms Supplement. The Market Agent may resign and be discharged of the duties and obligations obligation created by this First Supplemental Indenture Fifth Terms Supplement by giving at least thirty (30) days 30 days' notice to the Corporation Issuer and the Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation Issuer and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the Corporation, Issuer by an instrument signed by an Authorized Officer of the Corporation Issuer, filed with the Market Agent and the Trustee at least thirty (30) 30 days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent Market Agent by the Corporation Issuer and the acceptance of such appointment by such successor market agentMarket Agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, Agent and the Corporation Issuer shall not have appointed its successor as Market Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 13Section, shall be deemed to be the Market Agent for all purposes of this First Supplemental Indenture Fifth Terms Supplement until the appointment by the Corporation Issuer of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

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QUALIFICATIONS OF MARKET AGENT. The Market Agent shall be ------------------------------ a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Second Supplemental Indenture. The Market Agent may resign and be discharged of the duties and obligations created by this First Second Supplemental Indenture by giving at least thirty (30) days notice to the Corporation and the Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the Corporation, by an instrument signed by an Authorized Officer of the Corporation filed with the Market Agent and the Trustee at least thirty (30) days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent by the Corporation and the acceptance of such appointment by such successor market agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, and the Corporation shall not have appointed its successor as Market Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 13, shall be deemed to be the Market Agent for all purposes of this First Second Supplemental Indenture until the appointment by the Corporation of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: Education Loans Inc /De

QUALIFICATIONS OF MARKET AGENT. The Market Agent shall be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Supplemental IndentureSixth Terms Supplement. The Market Agent may resign and be discharged of the duties and obligations created by this First Supplemental Indenture Sixth Terms Supplement by giving at least thirty (30) days 30 days' notice to the Corporation Issuer and the Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation Issuer and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the CorporationIssuer, by an instrument signed by an Authorized Officer of the Corporation Issuer, filed with the Market Agent and the Trustee at least thirty (30) 30 days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent Market Agent by the Corporation Issuer and the acceptance of such appointment by such successor market agentMarket Agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, Agent and the Corporation Issuer shall not have appointed its successor as Market Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 13Section, shall be deemed to be the Market Agent for all purposes of this First Supplemental Indenture Sixth Terms Supplement until the appointment by the Corporation Issuer of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: Trust Agreement (Emt Corp)

QUALIFICATIONS OF MARKET AGENT. The Each Market Agent shall be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Supplemental Indenture_____ Supplement. The Any Market Agent may resign and be discharged of the duties and obligations created by this First Supplemental Indenture _____ Supplement by giving at least thirty (30) days 90 days' notice to the Corporation Issuer and the Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation Issuer and the acceptance of such appointment by such successor market agent. The Any Market Agent may be replaced at the direction of the CorporationIssuer, by an instrument signed by an Authorized Officer of the Corporation Issuer filed with the such Market Agent and the Trustee at least thirty (30) days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent by the Corporation Issuer and the acceptance of such appointment by such successor market agent. In the event that the any Market Agent shall be removed or be dissolved, or if the property or affairs of the any Market 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, and there is no Market AgentAgent for any series of Series 200_-_ Notes, and the Corporation Issuer shall not have appointed its successor as Market Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 13, shall be deemed to be the Market Agent for such series for all purposes of this First Supplemental Indenture _____ Supplement until the appointment by the Corporation Issuer of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: College Loan Corp Trust I

QUALIFICATIONS OF MARKET AGENT. The Market Agent shall be a member of the National Association of Securities Dealers, Inc., have a capitalization of at least $50,000,000 and be authorized by law to perform all the duties imposed upon it by this First Fourth Supplemental Indenture. The Market Agent may resign and be discharged of the duties and obligations created by this First Fourth Supplemental Indenture by giving at least thirty (30) days notice to the Corporation and the Trustee, provided that such resignation shall not be effective until the appointment of a successor market agent by the Corporation and the acceptance of such appointment by such successor market agent. The Market Agent may be replaced at the direction of the Corporation, by an instrument signed by an Authorized Officer of the Corporation filed with the Market Agent and the Trustee at least thirty (30) days before the effective date of such replacement, provided that such replacement shall not be effective until the appointment of a successor market agent by the Corporation and the acceptance of such appointment by such successor market agent. In the event that the Market Agent shall be removed or be dissolved, or if the property or affairs of the Market 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, and there is no Market Agent, and the Corporation shall not have appointed its successor as Market Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 13, shall be deemed to be the Market Agent for all purposes of this First Fourth Supplemental Indenture until the appointment by the Corporation of the successor Market Agent. Nothing in this Section 13 shall be construed as conferring on the Trustee additional duties other than as set forth herein.

Appears in 1 contract

Samples: Education Loans Inc /De

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