Trustee Resignation. The Trustee has the right to resign as Trustee by giving written notice to the Grantor(s), if living, and to the Foundation. The Trustee is hereby expressly authorized to resign without filing any petition or accounting in any court or with any public official, and without obtaining any approval from any court or public official. However, a resignation that would create a vacancy in the office of Trustee shall become effective only upon written acceptance of the Fund by a successor Trustee. The Foundation shall have the power to appoint a successor Trustee clothed with all the powers of the original Trustee.
Appears in 2 contracts
Sources: Trust Agreement, Revocable Trust Agreement