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

Resignation or Removal of the Trustee. Appointment of ----------------------------------------------------- Successor Trustee. (a) The Trustee may at any time resign as Trustee hereunder ----------------- by written notice of its election so to do, delivered to the Depositor, and such resignation shall take effect upon the appointment of a successor Trustee and its acceptance of such appointment as hereinafter provided; provided, however, that in the event of such resignation, the Trustee shall (a) assist the Depositor in finding a successor Trustee acceptable to the Depositor and (b) negotiate in good faith concerning any prepaid but unaccrued fees.

Appears in 4 contracts

Samples: Elmwood Funding LTD, Elmwood Funding LTD, Elmwood Funding LTD

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Resignation or Removal of the Trustee. Appointment of ----------------------------------------------------- Successor Trustee. (a) The Trustee may at any time resign as -------------------------------- Trustee hereunder ----------------- by written notice of its election so to do, delivered to the Depositor, and such resignation shall take effect upon the appointment of a successor Trustee and its acceptance of such appointment as hereinafter provided; provided, however, that in the event of such resignation, the Trustee shall (a) assist the Depositor in finding a successor Trustee acceptable to the Depositor and (b) negotiate in good faith concerning any prepaid but unaccrued fees.

Appears in 4 contracts

Samples: Trust Agreement (Lehman Abs Corp), Trust Agreement (Lehman Abs Corp), Trust Agreement (Lehman Abs Corp)

Resignation or Removal of the Trustee. Appointment of ----------------------------------------------------- Successor Trustee. (a) The Trustee may at any time resign as Trustee hereunder ----------------- by written notice of its election so to do, delivered to the DepositorDepositor and each Rating Agency, and such resignation shall take effect upon the appointment of a successor Trustee and its acceptance of such appointment as hereinafter provided; provided, however, that in the event of such resignation, the Trustee shall (a) assist the Depositor in finding a successor Trustee acceptable to the Depositor and (b) negotiate in good faith concerning any prepaid but unaccrued fees.

Appears in 1 contract

Samples: Trust Agreement (Db Depositor Inc)

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Resignation or Removal of the Trustee. Appointment --------------------------------------------------- of ----------------------------------------------------- Successor Trustee. (a) The Trustee may at any time resign as Trustee -------------------- hereunder ----------------- by written notice of its election so to do, delivered to the Depositor, and such resignation shall take effect upon the appointment of a successor Trustee and its acceptance of such appointment as hereinafter provided; provided, however, that in the event of such resignation, the Trustee shall (a) assist the Depositor in finding a successor Trustee acceptable to the Depositor and (b) negotiate in good faith concerning any prepaid but unaccrued fees.

Appears in 1 contract

Samples: Elmwood Funding LTD

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