Common use of Trustee Removal Clause in Contracts

Trustee Removal. The Trustee may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Trustee (the “Trustee Termination Notice”); provided, however, notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a successor Trustee has been appointed, has agreed to act as Trustee hereunder, and has received all Required Loan Documents held by the previous Trustee.

Appears in 7 contracts

Samples: Sale and Servicing Agreement (MCG Capital Corp), Sale and Servicing Agreement (NewStar Financial, Inc.), Sale and Servicing Agreement (Ares Capital Corp)

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Trustee Removal. The Trustee may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Trustee (the “Trustee Termination Notice”); provided, however, notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a successor Trustee has been appointed, appointed and has agreed to act as Trustee hereunder, ; provided that the Trustee shall continue to receive compensation of its fees and has received all Required Loan Documents held by expenses in accordance with Section 10.04 above while so serving as the previous TrusteeTrustee prior to a successor Trustee being appointed.

Appears in 5 contracts

Samples: Sale and Servicing Agreement (Ares Capital Corp), Sale and Servicing Agreement (Ares Capital Corp), Sale and Servicing Agreement (Ares Capital Corp)

Trustee Removal. The Trustee may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Trustee (the “Trustee Termination Notice”); provided, howeverprovided that, notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a successor Trustee has been appointed, appointed and has agreed to act as Trustee hereunder, ; provided that the Trustee shall continue to receive compensation of its fees and has received all Required Loan Documents held by expenses in accordance with Section 10.04 above while so serving as the previous TrusteeTrustee prior to a successor Trustee being appointed.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Ares Capital Corp), Loan and Servicing Agreement (Ares Capital Corp), Second Tier Purchase and Sale Agreement (Ares Capital Corp)

Trustee Removal. The Trustee may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Trustee (the “Trustee Termination Notice”); provided, howeverprovided that, notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a successor Trustee has been appointed, has agreed to act as Trustee hereunder, and has received all Required Loan Documents held by the previous Trustee.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (NewStar Financial, Inc.), Sale and Servicing Agreement (NewStar Financial, Inc.)

Trustee Removal. The Trustee may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Trustee (the “Trustee Termination Notice”); provided, howeverprovided that, notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a USActive 52762757.1552762757.22 140 successor Trustee has been appointed, appointed and has agreed to act as Trustee hereunder, ; provided that the Trustee shall continue to receive compensation of its fees and has received all Required Loan Documents held by expenses in accordance with Section 10.04 above while so serving as the previous TrusteeTrustee prior to a successor Trustee being appointed.

Appears in 1 contract

Samples: Loan and Servicing Agreement (Ares Capital Corp)

Trustee Removal. The Trustee (including in its capacity as Document Custodian) may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Trustee and the Lenders (the “Trustee Termination Notice”); provided, however, provided that notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a successor Trustee has been appointed, has agreed to act as Trustee hereunderhereunder in full compliance with the requirements of Section 5.5(d), and has received all Required Loan Documents Underlying Instruments held by the previous Trustee.

Appears in 1 contract

Samples: Loan and Security Agreement (NewStar Financial, Inc.)

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Trustee Removal. The Trustee may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Trustee (the “Trustee Termination Notice”); provided, however, provided that notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a successor Trustee has been appointed, has agreed to act as Trustee hereunder, and has received all Required Loan Documents held by the previous Trustee.

Appears in 1 contract

Samples: Loan and Servicing Agreement (NewStar Financial, Inc.)

Trustee Removal. The Trustee may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Trustee (the “Trustee Termination Notice”); provided, howeverprovided that, notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a successor Trustee has been appointed, appointed and has agreed to act as Trustee hereunder, ; provided that the Trustee shall continue to receive compensation of its fees and has received all Required Loan Documents held by expenses in accordance with Section 10.04 above while so serving as the previous Trustee.Trustee prior to a successor Trustee being appointed. 152

Appears in 1 contract

Samples: Loan and Servicing Agreement (Ares Capital Corp)

Trustee Removal. The Trustee may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Trustee and the Lenders (the “Trustee Termination Notice”); provided, however, provided that notwithstanding its receipt of a Trustee Termination Notice, the Trustee shall continue to act in such capacity until a successor Trustee has been appointed, has agreed to act as Trustee hereunderhereunder in full compliance with the requirements of Section 5.5(d), and has received all Required Loan Documents Underlying Instruments held by the previous Trustee.

Appears in 1 contract

Samples: Loan and Security Agreement (OFS Capital, LLC)

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