Common use of Resignation, Discharge & Replacement of Recordkeeper Clause in Contracts

Resignation, Discharge & Replacement of Recordkeeper. The Recordkeeper may resign and be discharged from its duties hereunder at any time by giving notice in writing of such resignation to the Company or, if a Change in Control shall previously have occurred, to the Company and the Trustee, specifying a date (not less than sixty (60) days after the giving of such notice) when such resignation shall take effect. Promptly after such notice, the Company or, if a Change in Control shall previously have occurred, the Trustee shall appoint a successor recordkeeper, such successor recordkeeper to become Recordkeeper hereunder upon the resignation date specified in such notice. If a successor recordkeeper is not appointed within sixty (60) days after such notice, the Recordkeeper shall be entitled, at the expense of the Company, to petition a United States District Court or any court of competent jurisdiction in the state in which the Recordkeeper maintains its principal place of business to appoint its successor. The Recordkeeper shall continue to serve until its successor accepts the responsibility of recordkeeper. The Company or, if a Change in Control shall previously have occurred, the Trustee may at any time substitute a new recordkeeper by giving fifteen (15) days’ notice thereof to the Recordkeeper then acting. In the event of such removal or resignation, the Recordkeeper shall provide its successor with the records and information in its possession relating to the performance of its duties under this Trust Agreement. On or after a Change in Control, any successor recordkeeper appointed under this Section 13.4 shall be an actuarial firm (or other third party providing such services) by reputation and experience comparable to the former Recordkeeper.

Appears in 2 contracts

Samples: Trust Agreement (Sunoco Inc), Trust Agreement (Sunoco Inc)

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Resignation, Discharge & Replacement of Recordkeeper. The Recordkeeper may resign and be discharged from its duties hereunder at any time by giving notice in writing of such resignation to the Company orCompany, or if a Change in Control shall previously have occurred, to the Company and the Trustee, specifying a date (not less than sixty (60) days after the giving of such notice) when such resignation shall take effect. Promptly after such notice, the Company orCompany, or if a Change in Control shall previously have occurred, the Trustee shall appoint a successor recordkeeper, such successor recordkeeper to become Recordkeeper hereunder upon the resignation date specified in such notice. If a successor recordkeeper is not appointed within sixty (60) days after such notice, the Recordkeeper shall be entitled, at the expense of the Company, to petition a United States District Court or any court of competent jurisdiction in the state in which the Recordkeeper maintains its principal place of business to appoint its successor. The Recordkeeper shall continue to serve until its successor accepts the responsibility of recordkeeper. The Company orCompany, or if a Change in Control shall previously have occurred, the Trustee may at any time substitute a new recordkeeper by giving fifteen (15) days’ notice thereof to the Recordkeeper then acting. In the event of such removal or resignation, the Recordkeeper shall provide its successor with the records and information in its possession relating to the performance of its duties under this Trust Agreement. On or after a Change in Control, any successor recordkeeper appointed under this Section 13.4 13.4, shall be an actuarial firm (or other third party providing such services) by reputation and experience comparable to the former Recordkeeper.

Appears in 2 contracts

Samples: Deferred Compensation and Benefits Trust Agreement (Sunoco Inc), Deferred Compensation and Benefits Trust Agreement (Sunoco Inc)

Resignation, Discharge & Replacement of Recordkeeper. The Recordkeeper may resign and be discharged from its duties hereunder at any time by giving notice in writing of such resignation to the Company orCompany, or if a Change in Control shall previously have occurred, to the Company and the Trustee, specifying a date (not less than sixty (60) days after the giving of such notice) when such resignation shall take effect. Promptly after such notice, the Company orCompany, or if a Change in Control shall previously have occurred, the Trustee Continuing Directors (or, if there are no Continuing Directors then by affirmative vote of at least three fourths (3/4) of the current Board of Directors) shall appoint a successor recordkeeper, such successor recordkeeper to become Recordkeeper hereunder upon the resignation date specified in such notice. If a successor recordkeeper is not appointed within sixty (60) days after such notice, the Recordkeeper shall be entitled, at the expense of the Company, to petition a United States District Court or any court of competent jurisdiction in the state in which the Recordkeeper maintains its principal place of business to appoint its successor. The Recordkeeper shall continue to serve until its successor accepts the responsibility of recordkeeper. The Company orCompany, or if a Change in Control shall previously have occurred, the Trustee Continuing Directors (or, if there are no Continuing Directors then by affirmative vote of at least three fourths (3/4) of the current Board of Directors) may at any time substitute a new recordkeeper by giving fifteen (15) days' notice thereof to the Recordkeeper then acting. In the event of such removal or resignation, the Recordkeeper shall provide its successor with the records and information in its possession relating to the performance of its duties under this Trust Agreement. On or after a Change in Control, any successor recordkeeper appointed under this Section 13.4 7.11, shall be an actuarial firm (or other third party providing such services) by reputation and experience comparable to to, and at least as well- recognized as, the former Recordkeeper.

Appears in 1 contract

Samples: Trust Agreement (Sunoco Inc)

Resignation, Discharge & Replacement of Recordkeeper. The Recordkeeper ---------------------------------------------------- may resign and be discharged from its duties hereunder at any time by giving notice in writing of such resignation to the Company orCompany, or if a Change in Control shall previously have occurred, to the Company and the Trustee, specifying a date (not less than sixty (60) days after the giving of such notice) when such resignation shall take effect. Promptly after such notice, the Company orCompany, or if a Change in Control shall previously have occurred, the Trustee members of the Incumbent Board then serving on the Board of Directors (or, if there are no members of the Incumbent Board then serving on the Board of Directors, then by affirmative vote of at least three fourths (3/4) of the current Board of Directors) shall appoint a successor recordkeeper, such successor recordkeeper to become Recordkeeper hereunder upon the resignation date specified in such notice. If a successor recordkeeper is not appointed within sixty (60) days after such notice, the Recordkeeper shall be entitled, at the expense of the Company, to petition a United States District Court or any court of competent jurisdiction in the state in which the Recordkeeper maintains its principal place of business to appoint its successor. The Recordkeeper shall continue to serve until its successor accepts the responsibility of recordkeeper. The Company orCompany, or if a Change in Control shall previously have occurred, the Trustee members of the Incumbent Board then serving on the Board of Directors (or, if there are no members of the Incumbent Board then serving on the Board of Directors, then by affirmative vote of at least three fourths (3/4) of the current Board of Directors) may at any time substitute a new recordkeeper by giving fifteen (15) days' notice thereof to the Recordkeeper then acting. In the event of such removal or resignation, the Recordkeeper shall provide its successor with the records and information in its possession relating to the performance of its duties under this Trust Agreement. On or after a Change in Control, any successor recordkeeper appointed under this Section 13.4 7.11, shall be an actuarial firm (or other third party providing such services) by reputation and experience comparable to to, and at least as well-recognized as, the former Recordkeeper.

Appears in 1 contract

Samples: Sunoco Inc

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Resignation, Discharge & Replacement of Recordkeeper. The Recordkeeper may resign and be discharged from its duties hereunder at any time by giving notice in writing of such resignation to the Company orCompany, or if a Change in Control shall previously have occurred, to the Company and the Trustee, specifying a date (not less than sixty (60) days after the giving of such notice) when such resignation shall take effect. Promptly after such notice, the Company orCompany, or if a Change in Control shall previously have occurred, the Trustee Continuing Directors (or, if there are no Continuing Directors then by affirmative vote of at least three fourths (3/4) of the current Board of Directors) shall appoint a successor recordkeeper, such successor recordkeeper to become Recordkeeper hereunder upon the resignation date specified in such notice. If a successor recordkeeper is not appointed within sixty (60) days after such notice, the Recordkeeper shall be entitled, at the expense of the Company, to petition a United States District Court or any court of competent jurisdiction in the state in which the Recordkeeper maintains its principal place of business to appoint its successor. The Recordkeeper shall continue to serve until its successor accepts the responsibility of recordkeeper. The Company orCompany, or if a Change in Control shall previously have occurred, the Trustee Continuing Directors (or, if there are no Continuing Directors then by affirmative vote of at least three fourths (3/4) of the current Board of Directors) may at any time substitute a new recordkeeper by giving fifteen (15) days' notice thereof to the Recordkeeper then acting. In the event of such removal or resignation, the Recordkeeper shall provide its successor with the records and information in its possession relating to the performance of its duties under this Trust Agreement. On or after a Change in Control, any successor recordkeeper appointed under this Section 13.4 7.11, shall be an actuarial firm (or other third party providing such services) by reputation and experience comparable to to, and at least as well-recognized as, the former Recordkeeper.

Appears in 1 contract

Samples: Benefits Trust Agreement (Sunoco Inc)

Resignation, Discharge & Replacement of Recordkeeper. The Recordkeeper ---------------------------------------------------- may resign and be discharged from its duties hereunder at any time by giving notice in writing of such resignation to the Company orCompany, or if a Change in Control shall previously have occurred, to the Company and the Trustee, specifying a date (not less than sixty (60) days after the giving of such notice) when such resignation shall take effect. Promptly after such notice, the Company orCompany, or if a Change in Control shall previously have occurred, the Trustee members of the Incumbent Board then serving on the Board of Directors (or, if there are no members of the Incumbent Board then serving on the Board of Directors, then by affirmative vote of at least three fourths (3/4) of the current Board of Directors) shall appoint a successor recordkeeper, such successor recordkeeper to become Recordkeeper hereunder upon the resignation date specified in such notice. If a successor recordkeeper is not appointed within sixty (60) days after such notice, the Recordkeeper shall be entitled, at the expense of the Company, to petition a United States District Court or any court of competent jurisdiction in the state in which the Recordkeeper maintains its principal place of business to appoint its successor. The Recordkeeper shall continue to serve until its successor accepts the responsibility of recordkeeper. The Company orCompany, or if a Change in Control shall previously have occurred, the Trustee members of the Incumbent Board then serving on the Board of Directors (or, if there are no members of the Incumbent Board then serving on the Board of Directors, then by affirmative vote of at least three fourths (3/4) of the current Board of Directors) may at any time substitute a new recordkeeper by giving fifteen (15) days' notice thereof to the Recordkeeper then acting. In the event of such removal or resignation, the Recordkeeper shall provide its successor with the records and information in its possession relating to the performance of its duties under this Trust Agreement. On or after a Change in Control, any successor recordkeeper appointed under this Section 13.4 7.11, shall be an actuarial firm (or other third party providing such services) by reputation and experience comparable to to, and at least as well- recognized as, the former Recordkeeper.

Appears in 1 contract

Samples: Sunoco Inc

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