Substitute Trustee definition

Substitute Trustee means an assignee of the Trustee's Interest who is admitted to the Trust as a Trustee pursuant to Section 4.12 or 11.2.

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Substitute Trustee means a person appointed by the current mortgagee or mortgage servicer under the terms of the security instrument to exercise the power of sale.

Substitute Trustee. Any Substitute Trustee (other than the Manager when acting as Trustee) must be approved by each Seller which approval is not to be unreasonably withheld or delayed.

Examples of Substitute Trustee in a sentence

• The Trustee will not assign or otherwise transfer the benefit of this Agreement or any of its rights, duties or obligations under this Agreement except to a Substitute Trustee acceptable to the Liquidity Facility Provider (whose consent is not to be unreasonably withheld).

• The Trustee will not assign or otherwise transfer the benefit of this Agreement or any of its rights, duties or obligations under this Agreement except to a Substitute Trustee acceptable to the Standby Redraw Facility Provider (whose consent is not to be unreasonably withheld).

• A Substitute Trustee shall be vested with title to the Property and with all rights, powers, and duties of the original Trustee herein and all provisions hereof pertaining to the Trustee shall similarly affect any Substitute Trustee.

• The Substitute Trustee shall be appointed by written instrument duly recorded in the county where the Mortgaged Property is located, which appointment may be executed by Beneficiary or in any manner permitted by applicable law.

• The right to appoint a Substitute Trustee shall exist as often and whenever from any of said causes, the Trustee, original or Substitute, resigns or cannot, will not or does not act, or Beneficiary or the holder(s) of a majority of the Indebtedness desires to appoint a new Trustee.

• The right to appoint a Substitute Trustee shall exist as often and whenever from any of said causes, the Trustee, original or substitute, resigns or cannot, will not or does not act, or Beneficiary or the holder(s) of a majority of the Obligations desires to appoint a new Trustee.

• Trustee's Fees; Substitute Trustee .........................................

• The right to appoint a Substitute Trustee shall exist as often and whenever from any of said causes, the Trustee, original or Substitute Trustee, resigns or cannot, will not or does not act, or Beneficiary or the holder(s) of a majority of the Obligations desires to appoint a new Trustee.

• If from time to time more than one Trustee or Substitute Trustee shall have been appointed hereunder, then any one Trustee or Substitute Trustee may act for all such Trustees and/or Substitute Trustee(s).

• The necessity of Trustee, or any Substitute Trustee, making oath or giving bond is expressly waived.

More Definitions of Substitute Trustee

Substitute Trustee means at any given time the entity then appointed as Trustee under clause 19.

Substitute Trustee means an individual,

Substitute Trustee means the person retained or appointed by the Insured, or by a person or body entitled or required to make such substitute appointment for the Insured, in the absence of the appointed Trustee, to execute a trust and/or to be vested in an estate, interest, or power relating to real estate to be received, held, administered, or sold for the benefit or to the use of another in the performance by the Insured of the services provided coverage under and pursuant to this Policy and any endorsements hereto.