Common use of Resignation and Removal of Securities Administrator Clause in Contracts

Resignation and Removal of Securities Administrator. (a) The Securities Administrator may at any time resign by giving written notice of resignation to the Depositor and the Trustee and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 12.08, such resignation is to take effect, and acceptance by a successor securities administrator in accordance with Section 12.08 meeting the qualifications set forth in Section 12.06. If no successor securities administrator meeting such qualifications shall have been so appointed by the Depositor and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Securities Administrator may petition any court of competent jurisdiction for the appointment of a successor securities administrator.

Resignation and Removal of Securities Administrator. (a) The Securities Administrator may at any time resign by giving written notice of resignation to the Depositor and the Trustee and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 12.0810.08, such resignation is to take effect, and acceptance by a successor securities administrator in accordance with Section 12.08 10.08 meeting the qualifications set forth in Section 12.0610.06. If no successor securities administrator meeting such qualifications shall have been so appointed by the Depositor and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Securities Administrator may petition any court of competent jurisdiction for the appointment of a successor securities administrator.

Resignation and Removal of Securities Administrator. (a) The Securities Administrator may at any time resign by giving written notice of resignation to the Depositor Depositor, the Swap Provider and the Trustee and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 12.0810.08, such resignation is to take effect, and acceptance by a successor securities administrator Securities Administrator in accordance with Section 12.08 10.08 meeting the qualifications set forth in Section 12.0610.06. If no successor securities administrator Securities Administrator meeting such qualifications shall have been so appointed by the Depositor and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Securities Administrator may petition any court of competent jurisdiction for the appointment of a successor securities administratorSecurities Administrator.