Common use of Replacement of Indenture Trustee Clause in Contracts

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any time by providing the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written notice. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.86.8 and payment in full of all sums due to the Indenture Trustee pursuant to Section 6.7. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written notice. The Holders holders of Notes evidencing not less than 51% a majority in principal amount of the Note Balance of the Controlling Class Notes may remove the Indenture Trustee without cause by so notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, Issuer and may appoint a successor Indenture Trustee. The Issuer Administrator shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written noticeNoteholders. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class Class, may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written noticeNoteholders. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class Class, may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.86.8 and payment in full of all sums due to the Indenture Trustee pursuant to Section 6.7. The Indenture Trustee may resign at any time by providing so notifying the IssuerIssuer and the Depositor, the Administrator, and will provide all information reasonably requested by the Depositor and in order to comply with its reporting obligation under Item 6.02 of Form 8-K with respect to the Noteholders with at least 60 days’ advance written noticeresignation of the Indenture Trustee. The Holders holders of Notes evidencing not less than 51% of the Note Balance a majority in principal amount of the Controlling Class may remove the Indenture Trustee without cause by so notifying the Indenture Trustee (with a copy to the IssuerTrustee, the Administrator, Issuer and the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer Administrator shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the AdministratorDepositor, the Depositor Noteholders and the Noteholders with at least 60 days’ advance written noticeInsurer. The Insurer (if no Insurer Default shall have occurred and be continuing) or the Holders of Notes evidencing not less than 51% of the Note Balance Balance, with the consent of the Controlling Class Insurer (if no Insurer Default shall have occurred and be continuing), may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the AdministratorDepositor, the Depositor Insurer and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8Section. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administrator, the Depositor and the Noteholders Noteholders, and will provide all information reasonably requested by the Depositor in order to comply with at least 60 days’ advance written noticeits reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class Notes may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8Section. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the AdministratorDepositor, the Depositor Swap Counterparty and the Noteholders Noteholders, and will provide all information reasonably requested by the Depositor in order to comply with at least 60 days’ advance written noticeits reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class Notes may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the AdministratorDepositor, the Depositor Swap Counterparty and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any time by providing the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written notice. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class Class, may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8Section. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written noticeNoteholders. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class Notes may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8Section. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administrator, the Depositor Issuer and the Noteholders with at least 60 days’ advance written noticeEnhancer. The Enhancer or the Holders of Notes evidencing representing not less than 51% a majority of the aggregate Note Balance of the Controlling Class Group I Notes, the Senior Group II Notes or the Subordinate Group II Notes (with the consent of the Enhancer) may remove the Indenture Trustee without cause by so notifying the Indenture Trustee (with a copy to the IssuerTrustee, the Administrator, the Depositor and the Rating Agencies) of Enhancer (if given by such removal andNoteholders), following such removal, and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any time by providing the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written notice. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:: Table of Contents (i) the Indenture Trustee fails to comply with Section 6.11;

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any time by providing the Issuer, the Administrator, the Depositor Depositor[, the Swap Counterparty] and the Noteholders with at least 60 days’ advance written notice. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class Class, may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor Depositor[, the Swap Counterparty] and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, and no appointment of a successor Indenture Trustee, shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section Section 6.8. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written noticeNoteholders. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class Class, may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of --------------------------------- the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.86.08. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administrator, the Depositor Servicer and the Noteholders with at least 60 days’ advance written noticeNote Insurer. The Holders of Notes evidencing not less than 51% a majority of the Note Class Principal Balance of the Controlling Class Notes may remove the Indenture Trustee without cause by so notifying the Indenture Trustee (with a copy to the IssuerTrustee, the Administrator, the Depositor Servicer and the Rating Agencies) of such removal and, following such removal, Note Insurer and may appoint a successor Indenture Trustee, with the consent of the Note Insurer and the Servicer. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8Trustee. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administratorholder of the Transferor, the Depositor Depositor, and the Noteholders with at least 60 days’ advance written noticeMaster Servicer. The Holders of Notes evidencing not less than 51% of the Note Balance aggregate Outstanding Amount of the Controlling Class all Classes may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy at any time upon delivery to the IssuerIssuer of a written description of the basis for the removal, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may Issuer shall then appoint a successor Indenture Trustee by so notifying the Indenture Trustee, the Transferor, the Depositor, and the Master Servicer. The Issuer (and if the Issuer fails to do so, the Transferor) shall remove the Indenture Trustee and appoint a successor if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8Section. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written noticeNoteholders. The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if:

Replacement of Indenture Trustee. (a) No resignation or removal of -------------------------------- the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any ----------- time by providing giving thirty (30) days written notice to the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written notice. The Holders of Notes evidencing not less representing more than 5150% of the Note Balance Outstanding Amount of the Controlling Class all Series may remove the Indenture Trustee without cause by so notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor in writing and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer [Administrator] shall remove the Indenture Trustee upon written notice if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8Trustee. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the AdministratorTransferor, the Depositor Depositor, and the Noteholders with at least 60 days’ advance written noticeMaster Servicer. The Holders of Notes evidencing not less than 51% of the Note Balance aggregate Outstanding Amount of the Controlling Class all Classes may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuerat any time, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may Issuer shall then appoint a successor Indenture Trustee by so notifying the Indenture Trustee, the Transferor, the Depositor, and the Master Servicer. The Issuer (and if the Issuer fails to do so, the Transferor) shall remove the Indenture Trustee and appoint a successor if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8Trustee. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the AdministratorTransferor, the Depositor Depositor, and the Noteholders with at least 60 days’ advance written noticeMaster Servicer. The Holders of Notes evidencing not less than 51% of the Note Balance aggregate Outstanding Amount of the Controlling Class all Classes of Notes may remove the Indenture Trustee without cause by notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor at any time and the Rating Agencies) of such removal and, following such removal, may Issuer shall then appoint a successor Indenture Trustee by so notifying the Indenture Trustee, the Transferor, the Depositor, and the Master Servicer. The Issuer (and if the Issuer fails to do so, the Transferor) shall remove the Indenture Trustee and appoint a successor if:

Replacement of Indenture Trustee. (a) No resignation or removal of the Indenture Trustee, Trustee and no appointment of a successor Indenture Trustee, Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any time by providing so notifying the Issuer, the Administrator, the Depositor and the Noteholders with at least 60 days’ advance written notice. The Holders of Notes evidencing not less than 51% Indenture Trustee shall give each of the Note Balance Rating Agencies notice of its resignation promptly following such resignation. The holders of a majority of the Controlling Class of Notes may remove the Indenture Trustee without cause by so notifying the Indenture Trustee (with a copy to the Issuer, the Administrator, the Depositor and the Rating Agencies) of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if: