Examples of Resignation Request in a sentence
The Holders of the Common Securities shall use their best efforts to promptly appoint a Successor Institutional Trustee or Successor Delaware Trustee as the case may be if the Institutional Trustee or the Delaware Trustee delivers a Resignation Request in accordance with this Section 5.6.
If no Successor Institutional Trustee or Successor Delaware Trustee shall have been appointed and accepted appointment as provided in this Section 5.6 within 60 days after delivery of a notice of removal or a Resignation Request, the Institutional Trustee or Delaware Trustee resigning or being removed, as applicable, may petition, at the expense of the Sponsor, any court of competent jurisdiction for appointment of a Successor Institutional Trustee or Successor Delaware Trustee.
The resigning Member shall then be required to close-out all its Outstanding Trades as of Resignation Request Date within such notice period.
Such request for resignation under E1 (a)shall be approved or rejected by the Managing Director of Clearing Corporation or by an official so authorized by the Managing Director within 2 business days from the Resignation Request Date, based on the fulfillment or otherwise of the conditions for resignation by the member.
The resigning member shall then be required to close-out all its Outstanding Trades as of Resignation Request Date within such notice period.