Replacement of Bond Trustee and Securities Intermediary. The Bond Trustee may resign at any time by so notifying the Bond Issuer, provided, however, that no such resignation shall be effective until either (a) the Collateral has been completely liquidated and the proceeds of the liquidation distributed to the Bondholders or (b) a successor trustee having the qualifications set forth in Section 6.11 has been designated and has accepted such trusteeship. The Holders of a majority in Outstanding Amount of the Bonds may remove the Bond Trustee by so notifying the Bond Trustee and may appoint a successor Bond Trustee. The Bond Issuer shall remove the Bond Trustee if:
Appears in 5 contracts
Samples: Bond Indenture (FirstEnergy Ohio PIRB Special Purpose Trust 2013), Bond Indenture (FirstEnergy Ohio PIRB Special Purpose Trust 2013), Bond Indenture (FirstEnergy Ohio PIRB Special Purpose Trust 2013)
