Common use of Successor Owner Trustee or Delaware Trustee Clause in Contracts

Successor Owner Trustee or Delaware Trustee. (a) Any successor Owner Trustee or Delaware Trustee appointed pursuant to Section 10.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee or Delaware Trustee an instrument accepting such appointment under this Agreement. Upon the resignation or removal of the predecessor Owner Trustee or Delaware Trustee becoming effective pursuant to Section 10.2, such successor Owner Trustee or Delaware Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee or Delaware Trustee. The predecessor Owner Trustee or Delaware Trustee shall, upon payment of its fees and expenses, deliver to the successor Owner Trustee or Delaware Trustee all documents and statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee or Delaware Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee or Delaware Trustee all such rights, powers, duties, and obligations.

Successor Owner Trustee or Delaware Trustee. (a) Any successor Owner Trustee or Delaware Trustee appointed pursuant to Section 10.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee or Delaware Trustee an instrument accepting such appointment under this Agreement. Upon the resignation or removal of the predecessor Owner Trustee or Delaware Trustee becoming effective pursuant to Section 10.2, such successor Owner Trustee or Delaware Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee or Delaware Trustee. The predecessor Owner Trustee or Delaware Trustee shall, upon payment of its fees and expenses, deliver to the successor Owner Trustee or Delaware Trustee all documents and statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee or Delaware Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee or Delaware Trustee all such rights, powers, duties, and obligations.confirming

Successor Owner Trustee or Delaware Trustee. (a) Any successor Owner Trustee or Delaware Trustee appointed pursuant to Section 10.2 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee or Delaware Trustee an instrument accepting such appointment under this AgreementAgree ment. Upon the resignation or removal of the predecessor Owner Trustee or Delaware Trustee becoming effective pursuant to Section 10.2, such successor Owner Trustee or Delaware Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties, and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee or Delaware Trustee. The predecessor Owner Trustee or Delaware Trustee shall, upon payment of its fees and expenses, deliver to the successor Owner Trustee or Delaware Trustee all documents and statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee or Delaware Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee or Delaware Trustee all such rights, powers, duties, and obligations.