Common use of Resignation of the Trustee Clause in Contracts

Resignation of the Trustee. Subject to Sections 8.10 and 8.11 below, the Trustee may resign as trustee of the Trust by means of a written notice delivered to the Manager and the Common Representative at least 60 (sixty) calendar days in advance of the effective date of such resignation, and only in the cases set forth in Article 391 of the LGTOC. Immediately following the receipt of the Trustee’s resignation notice by the Manager and the Common Representative, the Manager will appoint a substitute Trustee; provided, that the resigning Trustee shall not cease to be the Trustee hereunder until the substitute Trustee signs and delivers the acknowledgment referred to in Section 8.11(b).