Successor Owner Trustees and Additional Trustees Sample Clauses

Successor Owner Trustees and Additional Trustees. 12.01. Resignation of Owner Trustee; Appointment of Successor.........21 12.02.
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Successor Owner Trustees and Additional Trustees. 9.01. Resignation of Owner Trustee; Appointment of Successor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
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Successor Owner Trustees and Additional Trustees. Section 13.01. Resignation of Owner Trustee; Appointment of Successor 34 Section 13.02. Appointment of Additional Trustees 35 TABLE OF CONTENTS Continued Page ARTICLE XIV MISCELLANEOUS Section 14.01. Amendments and Waivers 37 Section 14.02. No Legal Title to Trust Property in Owners 37 Section 14.03. Limitations on Rights of Others 37 Section 14.04. Notices 37 Section 14.05. Counterparts 38 Section 14.06. Binding Effect; Assignability 38 Section 14.07. Headings 39 Section 14.08. Governing Law; Jury Waiver 39 Section 14.09. Complete Agreement 39 Section 14.10. No Petition 39 Section 14.11. No Recourse 40 Section 14.12. No Waivers; Remedies 40 Section 14.13. Consent to Jurisdiction 40 Exhibits EXHIBITA: FORM OF TRUST CERTIFICATE EXHIBIT B: BYLAWS OF THE TRUST EXHIBIT C FEE SCHEDULE EXHIBIT D MANAGER NON-PETITION AGREEMENT EXHIBIT E OFFICER NON-PETITION AGREEMENT AMENDED AND RESTATED TRUST AGREEMENT, dated as of December 12, 2008 (the “Trust Agreement”), by and between MEDALLION FUNDING CORP., a New York corporation (“Medallion Funding” or the “Depositor”) and U.S. BANK TRUST, N.A., a national banking association, in its individual capacity but only to the limited extent expressly set forth herein and as Owner Trustee of the trust known as TAXI MEDALLION LOAN TRUST III continued pursuant to Article II hereof (the “Trust”).
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Successor Owner Trustees and Additional Trustees 
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Related to Successor Owner Trustees and Additional Trustees

  • Successor Owner Trustees and Additional Owner Trustees 20 SECTION 9.1. Eligibility Requirements for Owner Trustee.............20 SECTION 9.2. Resignation or Removal of Owner Trustee................20 SECTION 9.3. Successor Owner Trustee................................21 SECTION 9.4. Merger or Consolidation of Owner Trustee...............21 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee..........22 ARTICLE X. MISCELLANEOUS...................................................23

  • Co-Trustees and Separate Trustees (a) At any time or times, if the Issuer, the Trustee or any Noteholder determines that it is necessary for the purpose of meeting the legal requirements of any jurisdiction in which any of the Asset Pool may at the time be located, the Issuer and the Trustee (with the written consent of the Insurer, if no Insurer Default has occurred and is continuing) shall have power to appoint, and, upon the written request of the Trustee or the Insurer (if no Insurer Default has occurred and is continuing) or the holders of a majority of the then Outstanding Principal Amount of the Notes (if an Insurer Default has occurred and is continuing), the Issuer shall for such purpose join with the Trustee in the execution, delivery, and performance of all instruments and agreements necessary or proper to appoint, one or more Persons either to act as co-trustee, jointly with the Trustee, of all or any part of such Asset Pool, or to act as separate trustee of any such property, in either case with such powers as may be provided in the instrument of appointment, and to vest in such Person or Persons in the capacity aforesaid, any property, title, right or power deemed necessary or desirable, subject to the other provisions of this Section. If the Issuer does not join in such appointment within 15 days after the receipt by it of a request so to do, or in case an Event of Default has occurred and is continuing, the Trustee (if no Insurer Default has occurred and is continuing), or the holders of a majority of the then Outstanding Principal Amount of the Notes (if an Insurer Default has occurred and is continuing), alone shall have power to make such appointment.

  • Successor Owner Trustee Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner 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. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner 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 all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.

  • The Owner Trustee It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by Wilmington Trust, National Association on behalf of the Trust not individually or personally but solely as owner trustee of the Trust under the Trust Agreement of the Trust dated the date hereof in the exercise of the powers and authority conferred upon and vested in Wilmington Trust, National Association as owner trustee of the Trust under such Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as the personal representation, undertaking or agreement of Wilmington Trust, National Association, but is made and intended for the purpose of binding only the Trust and (iii) nothing herein contained shall be construed as creating any liability on the part of Wilmington Trust, National Association, individually or personally, to perform any covenant or obligation of the Trust, either expressed or implied, contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto.

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