Trustee to Appoint Sample Clauses
The 'Trustee to Appoint' clause grants the trustee the authority to designate or appoint individuals or entities to specific roles or positions as outlined in the trust deed or agreement. In practice, this may involve the trustee selecting beneficiaries, investment managers, or other agents necessary for the administration of the trust. This clause ensures that the trustee has the flexibility to manage the trust effectively and adapt to changing circumstances, thereby facilitating the smooth operation and ongoing management of the trust.
Trustee to Appoint. As soon as practicable after receipt of notification that the Master Servicer has resigned or has been terminated in such capacity, the Trustee will undertake the procedure described in Subsection 11.2(4) to appoint a successor Master Servicer satisfying the requirements set forth in Subsection 11.2(3) and acceptable to the Guarantor (unless a Guarantor Event of Default has occurred and is continuing, in which case the Guarantor’s acceptance is not required). The successor Master Servicer need not be identical for all Trusts.