Successor Lessor. The Lessee agrees that in the case of the appointment of any successor trustee for the Lessor pursuant to the terms of the Participation Agreement, such successor trustee shall, upon written notice by such successor to the Lessee, succeed to all the rights, powers and title of the Lessor under this Lease and shall be deemed to be the Lessor and the owner of the Aircraft for all purposes of this Lease without the necessity of any consent or approval by the Lessee and without in any way altering the terms of this Lease or the Lessee's obligations. One such appointment and designation of a successor trustee shall not exhaust the right to appoint and designate a further successor trustee pursuant to the Participation Agreement, but such right may be exercised repeatedly so long as this Lease shall be in effect.
Successor Lessor. Lessee agrees that, in the case of the appointment of any successor Certificate Trustee pursuant to the Trust Agreement and the other Operative Documents, such successor shall, upon written notice by such successor to Lessee, succeed to all the rights, powers and title of Lessor hereunder and shall be deemed to be Lessor for all purposes hereof and without in any way altering the terms of this Lease or Lessee's obligations hereunder.
Successor Lessor. Lessee agrees that, in the case of the ---------------- appointment of any successor owner trustee pursuant to the terms hereof and of the Trust Agreement, such successor owner trustee shall, upon written notice by such successor owner trustee to Lessee, succeed to all the rights, powers and title of Lessor hereunder and shall be deemed to be Lessor for all purposes hereof and without in any way altering the terms of this Lease or Lessee's obligations hereunder. Such appointment and designation of a successor owner trustee shall not exhaust the right to appoint and designate further successor owner trustees pursuant to the Trust Agreement, but such right may be exercised repeatedly as long as this Lease shall be in effect.
Successor Lessor. Lessee agrees that, in the case of any ---------------- transfer of the Site to a successor Lessor in accordance with the provisions of Section 6.3 of the Participation Agreement from time to time, such successor Lessor shall, upon written notice by such successor Lessor to Lessee, succeed to all the rights, powers and title of Lessor hereunder and shall be deemed to be Lessor for all purposes hereof and without in any way altering the terms of this Lease or Lessee's obligations hereunder. Such transfer to a successor Lessor shall not exhaust the right to any further transfer to another successor Lessor pursuant to said Section 6.3, but such right may be exercised repeatedly as long as this Lease shall be in effect.
Successor Lessor. If any successor is appointed to serve as Owner Trustee pursuant to the terms of the Participation Agreement and the Trust Agreement, such successor shall, upon written notice by such successor to Lessee, succeed to all the rights, powers, and title of Lessor hereunder, and shall be deemed to be “Lessor” and the owner of the Aircraft and the other assets of the Trust Estate for all purposes hereof, without the need for any consent or approval by Lessee (and Lessee shall consent, and shall be deemed to have consented, to any filings or registrations on the International Registry that Lessor, in its reasonable judgment, determines to be necessary of desirable to fully effectuate such succession) and without in any way altering the terms of this Lease or Lessee’s obligations under the Operative Agreements. An appointment and designation of a successor as Owner Trustee shall not exhaust the right to appoint and designate further successors or additional trustees as Owner Trustees pursuant to the Participation Agreement and the Trust Agreement, and such right may be exercised repeatedly as long as this Lease shall be in effect.
Successor Lessor. Lessor may sell, convey or transfer the WM Property (or any portion thereof) to any Person, or lease or grant easements or rights of way to any portion of the WM Property (except for the Site), or assign its interest in this Agreement, without the consent of Lessee, but subject to the leasehold interest herein granted with respect to the Site and other rights granted to Lessee as to the WM Property and the Site by this Agreement. In the event of any such transfer, Lessor shall give Lessee prompt notice thereof.
Successor Lessor. Lessee agrees that, in the case of the appointment of any successor Lessor pursuant to the terms hereof and of the Participation Agreement, such successor Lessor shall, upon notice by such successor Lessor to Lessee, succeed to all the rights, powers and title of Lessor hereunder and shall be deemed to be Lessor for all purposes hereof and without in any way altering the terms of this Lease or Lessee's obligations hereunder. Such appointment and designation of a successor Lessor shall not exhaust the right to any further transfer to any other successor Lessor, but such right may be exercised repeatedly as long as this Lease shall be in effect.
Successor Lessor. In the event the Lessor named in this Lease, or any successor Lessor as hereinabove defined, shall convey the fee simple title to the land constituting the demised premises, then the Lessor so conveying or transferring shall be automatically freed and relieved from and after the date of such conveyance or transfer of and from all liabilities and obligations, express or implied, on the part of the Lessor contained in or resulting from the Lease, and each successor, transferee or grantee of the fee simple title to said land shall become and be bounded by such covenants and obligations, express or implied, but only during the period, respectively, of such grantee's or transferee's respective ownership of such fee simple title; provided, always that upon any such conveyances or transfer, any funds in the hands of the Lessor so conveying or transferring awaiting distribution, payment or application in the manner and for the purposes provided in this Lease, shall be paid over and transferred to such a successor, grantee or transferee, to be held and used for the same uses and purposes under and pursuant to this Lease as the funds so transferred.
Successor Lessor. The Lessor may resign as such following the giving of thirty (30) days prior written notice to the Lessee. Similarly, the Lessor may be removed and replaced following the giving of thirty (30) days prior written notice to the Lessor by the Lessee. The Lessor or the Lessee may select as successor Lessor any financial institution with capital, surplus and undivided profits of at least $50,000,000 and having a corporate trust office within the State of Illinois, and which is authorized to maintain trust accounts for municipal corporations in Illinois under applicable law. If the Lessee has failed to appoint a successor prior to the expiration of thirty (30) days following receipt of the notice of resignation or removal, the Lessor may appoint a successor or petition any court of competent jurisdiction for the appointment of a successor or for other appropriate relief, and any such resulting appointment shall be binding upon all of the parties hereto. Any banking association or corporation into which the Lessor may be merged, converted or with which the Lessor may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Lessor shall be a party, or any banking association or corporation to which all or substantially all of the corporate trust business of the Lessor shall be transferred, shall succeed to all the Lessor’s rights, obligations and immunities hereunder without the execution or filing of any paper or any further act on the part of any of the parties thereto, anything therein to the contrary notwithstanding.
Successor Lessor. Section 21.01.
