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. The Indenture Trustee may resign at any time (with 30 days prior notice) by so notifying the Issuer, the Transferor, the Administrator and the Noteholders, and will provide all information reasonably requested by the Transferor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders may remove the Indenture Trustee by so notifying (with 30 days’ prior written notice) the Indenture Trustee, the Issuer, the Transferor and the Administrator (who shall notify the Rating Agencies) and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect to the Indenture Trustee or (iii) the Indenture Trustee otherwise becomes incapable of acting.

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. The Indenture Trustee may resign at any time (with by providing 30 days days’ prior notice) by so notifying written notice to the Issuer, the TransferorAdministrator, the Administrator Depositor and the Noteholders, Noteholders and will provide all information reasonably requested by the Transferor Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders Holders of Notes evidencing not less than 51% of the Note Balance of the Notes may remove the Indenture Trustee by so notifying (with without cause upon 30 days’ prior written notice) notice to the Indenture Trustee, Trustee (with a copy to the Issuer, the Transferor Depositor and the Administrator (Administrator, who shall notify the Rating Agencies) and of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect the Indenture Trustee is adjudged to be bankrupt or insolvent, (iii) a receiver or other public officer takes charge of the Indenture Trustee or its property or (iiiiv) the Indenture Trustee otherwise becomes incapable of acting.

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. The Indenture Trustee may resign at any time (with by providing 30 days days’ prior notice) by so notifying written notice to the Issuer, the TransferorAdministrator, the Administrator Depositor and the Noteholders, Noteholders and will provide all information reasonably requested by the Transferor Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders may remove the Indenture Trustee by so notifying (with without cause upon 30 days’ prior written notice) notice to the Indenture Trustee, Trustee (with a copy to the Issuer, the Transferor Depositor and the Administrator (Administrator, who shall notify the Rating Agencies) and of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect the Indenture Trustee is adjudged to be bankrupt or insolvent, (iii) a receiver or other public officer takes charge of the Indenture Trustee or its property or (iiiiv) the Indenture Trustee otherwise becomes incapable of acting.

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. The Indenture Trustee may resign at any time (with 30 days prior notice) by so notifying the Issuer, the Transferor, the Administrator Depositor and the NoteholdersNoteholders with 30 days’ prior written notice, and will provide all information reasonably requested by the Transferor Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class may remove the Indenture Trustee without cause by so notifying (the Indenture Trustee with 30 days’ prior written notice) the Indenture Trustee, notice (with a copy to the Issuer, the Transferor Depositor and the Administrator (who shall notify the Rating Agencies) and of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee with 30 days’ prior written notice if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect the Indenture Trustee is adjudged to be bankrupt or insolvent, (iii) a receiver or other public officer takes charge of the Indenture Trustee or its property or (iiiiv) the Indenture Trustee otherwise becomes incapable of acting.

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. The Indenture Trustee may resign at any time (with 30 days prior notice) by so notifying the Issuer, the Transferor, the Administrator Depositor and the Noteholders, and will provide all information reasonably requested by the Transferor Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders Holders of Notes evidencing not less than 51% of the Note Balance of the Notes may remove the Indenture Trustee without cause by so notifying the Indenture Trustee (with 30 days’ prior written notice) the Indenture Trustee, a copy to the Issuer, the Transferor Depositor and the Administrator (who shall notify the Rating Agencies) and of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect the Indenture Trustee is adjudged to be bankrupt or insolvent, (iii) a receiver or other public officer takes charge of the Indenture Trustee or its property or (iiiiv) the Indenture Trustee otherwise becomes incapable of acting.

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. The Indenture Trustee may resign at any time (with 30 days prior notice) by so notifying the Issuer, the Transferor, the Administrator and the Noteholders, and will provide all information reasonably requested by the Transferor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders of the Controlling Class may remove the Indenture Trustee by so notifying (with 30 days’ prior written notice) the Indenture Trustee, the Issuer, the Transferor and the Administrator (who shall notify the Rating Agencies) and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect to the Indenture Trustee or (iii) the Indenture Trustee otherwise becomes incapable of acting.

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. The Indenture Trustee may resign at any time (with 30 days prior notice) by so notifying the Issuer, the Transferor, the Administrator and the Noteholders, and will provide all information reasonably requested by the Transferor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders of the Controlling Class may remove the Indenture Trustee by so notifying (with 30 days’ days prior written notice) the Indenture Trustee, the Issuer, the Transferor and the Administrator (who shall notify the Rating Agencies) and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect to the Indenture Trustee or (iii) the Indenture Trustee otherwise becomes incapable of acting.

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. The Indenture Trustee may resign at any time (with by providing 30 days days’ prior notice) by so notifying written notice to the Issuer, the Transferor, the Administrator Depositor and the Noteholders, Noteholders and will provide all information reasonably requested by the Transferor Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders Holders of Notes evidencing not less than 51% of the Note Balance of the Notes may remove the Indenture Trustee by so notifying (with without cause upon 30 days’ prior written notice) notice to the Indenture Trustee, Trustee (with a copy to the Issuer, the Transferor Depositor and the Administrator (who shall notify the Rating Agencies) and of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect the Indenture Trustee is adjudged to be bankrupt or insolvent, (iii) a receiver or other public officer takes charge of the Indenture Trustee or its property or (iiiiv) the Indenture Trustee otherwise becomes incapable of acting.

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. The Indenture Trustee may resign at any time (with 30 days prior notice) by so notifying the Issuer, the Transferor, the Administrator and the Noteholders, and will provide all information reasonably requested by the Transferor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders may remove the Indenture Trustee by so notifying (with 30 days’ days prior written notice) the Indenture Trustee, the Issuer, the Transferor and the Administrator (who shall notify the Rating Agencies) and may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect to the Indenture Trustee or (iii) the Indenture Trustee otherwise becomes incapable of acting.

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. The Indenture Trustee may resign at any time (with by providing 30 days days’ prior notice) by so notifying written notice to the Issuer, the TransferorAdministrator, the Administrator Depositor and the Noteholders, Noteholders and will provide all information reasonably requested by the Transferor Depositor in 39 order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders Holders of Notes evidencing not less than 51% of the Note Balance of the Notes may remove the Indenture Trustee by so notifying (with without cause upon 30 days’ prior written notice) notice to the Indenture Trustee, Trustee (with a copy to the Issuer, the Transferor Depositor and the Administrator (Administrator, who shall notify the Rating Agencies) and of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect the Indenture Trustee is adjudged to be bankrupt or insolvent, (iii) a receiver or other public officer takes charge of the Indenture Trustee or its property or (iiiiv) the Indenture Trustee otherwise becomes incapable of acting.

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 such appointment by the successor Indenture Trustee pursuant to this Section. The Indenture Trustee may resign at any time (with by providing 30 days days’ prior notice) by so notifying written notice to the Issuer, the TransferorAdministrator, the Administrator Depositor and the Noteholders, Noteholders and will provide all information reasonably requested by the Transferor Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders may remove the Indenture Trustee by so notifying (with without cause upon 30 days’ prior written notice) notice to the Indenture Trustee, Trustee (with a copy to the Issuer, the Transferor Depositor and the Administrator (Administrator, who shall notify the Rating Agencies) and of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect the Indenture Trustee is adjudged to be bankrupt or insolvent, (iii) a receiver or other public officer takes charge of the Indenture Trustee or its property or (iiiiv) the Indenture Trustee otherwise becomes incapable of acting.

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. The Indenture Trustee may resign at any time (with 30 days prior notice) by so notifying the Issuer, the TransferorDepositor, the Administrator Servicer and the NoteholdersNoteholders with 30 days’ prior written notice, and will provide all information reasonably requested by the Transferor Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee. The Majority Noteholders Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class may remove the Indenture Trustee without cause by so notifying (the Indenture Trustee with 30 days’ prior written notice) the Indenture Trustee, notice (with a copy to the Issuer, the Transferor Depositor and the Administrator (who shall notify the Rating Agencies) and of such removal and, following such removal, may appoint a successor Indenture Trustee. The Issuer shall remove the Indenture Trustee with 30 days’ prior written notice if (i) the Indenture Trustee fails to comply with Section 6.11, (ii) an Insolvency Event occurs with respect the Indenture Trustee is adjudged to be bankrupt or insolvent, (iii) a receiver or other public officer takes charge of the Indenture Trustee or its property or (iiiiv) the Indenture Trustee otherwise becomes incapable of acting.