Common use of Resignation or Removal of Owner Trustee Clause in Contracts

Resignation or Removal of Owner Trustee. (a) Subject to paragraph (c) of this Section, the Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Administrator. Upon receiving such notice of resignation, the Administrator shall promptly appoint a successor Owner Trustee which satisfies that eligibility requirements set forth in Section 10.01 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Owner Trustee, as applicable, may petition (at the expense of the Depositor) any court of competent jurisdiction for the appointment of a successor Owner Trustee.

Resignation or Removal of Owner Trustee. (a) Subject to paragraph (c) of this Section, the The Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the AdministratorDepositor at least 30 days before the date specified in such instrument. Upon receiving such notice of resignation, the Administrator Depositor shall promptly appoint a successor Owner Trustee which satisfies that eligibility requirements meeting the qualifications set forth in Section 10.01 10.1 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Owner Trustee, as applicable, Trustee may petition (at the expense of the Depositor) any court of competent jurisdiction for the appointment of a successor Owner Trustee.

Resignation or Removal of Owner Trustee. (a) Subject to paragraph (c) of this Section, the The Owner Trustee may at any time give notice of its intent to resign and be discharged from the trusts hereby created by giving written notice thereof to the Administrator; provided that no such resignation shall become effective, and the Owner Trustee shall not resign, prior to the time set forth in Section 8.2(c). Upon receiving such notice of resignation, the The Administrator shall promptly may appoint a successor Owner Trustee which satisfies that eligibility requirements set forth in Section 10.01 by delivering written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignationnotice, the resigning Owner Trustee, as applicable, Trustee giving such notice may petition (at the expense of the Depositor) any court of competent jurisdiction for the appointment of a successor Owner Trustee.. The Administrator shall remove the Owner Trustee if:

Resignation or Removal of Owner Trustee. (a) Subject to paragraph (c) of this Section, the Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Administrator. Upon receiving such notice of resignation, the Administrator shall promptly appoint a successor Owner Trustee which satisfies that eligibility requirements set forth in Section 10.01 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 [30] days after the giving of such notice of resignation, the resigning Owner Trustee, as applicable, may petition (at the expense of the Depositor) any court of competent jurisdiction for the appointment of a successor Owner Trustee.

Resignation or Removal of Owner Trustee. (a) Subject to paragraph (c) of this Section, the The Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the AdministratorOwner and the Servicer at least 30 days before the date specified in such instrument. Upon receiving such notice of resignation, the Administrator Owner shall promptly appoint a successor Owner Trustee which satisfies that eligibility requirements meeting the qualifications set forth in Section 10.01 9.1 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Owner Trustee, as applicable, Trustee may petition (at the expense of the Depositor) any court of competent jurisdiction for the appointment of a successor Owner Trustee.

Resignation or Removal of Owner Trustee. (a) Subject to paragraph (c) of this Section, the The Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving 30 days’ prior written notice thereof to the AdministratorTrust Depositor. Upon receiving such notice of resignation, the Administrator Trust Depositor shall promptly appoint a successor Owner Trustee which satisfies that eligibility requirements meeting the qualifications set forth in Section 10.01 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 60 days after the giving of such notice of resignation, the resigning Owner Trustee, as applicable, may petition (at the expense of the Trust Depositor) , may petition any court of competent jurisdiction for the appointment of a successor Owner Trustee.