Replacement of Note Trustee. The Note Trustee may ---------------------------- resign at any time by so notifying the Note Issuer, provided that no such resignation shall be effective until either (a) the Collateral has been completely liquidated and the proceeds of the liquidation distributed to the Noteholders or (b) a successor trustee having the qualifications set forth in Section 6.11 has been designated and has accepted such trusteeship. The Holders of a majority in Outstanding Amount of the Notes of all Series may remove the Note Trustee by so notifying the Note Trustee and may appoint a successor Note Trustee. The Note Issuer shall remove the Note Trustee if:
Appears in 6 contracts
Samples: Sce Funding LLC, Sce Funding LLC, Sdg&e Funding LLC a De Limited Liability Co
Replacement of Note Trustee. The Note Trustee may ---------------------------- resign at any time by so notifying the Note Issuer, provided provided, however, that no such resignation shall be effective until either (a) the Collateral has been completely liquidated and the proceeds of the liquidation distributed to the Noteholders or (b) a successor trustee having the qualifications set forth in Section 6.11 has been designated and has accepted such trusteeship. The Holders of a majority in Outstanding Amount of the Notes of all Series may remove the Note Trustee by so notifying the Note Trustee and may appoint a successor Note Trustee. The Note Issuer shall remove the Note Trustee if:
Appears in 5 contracts
Samples: Note Indenture (BEC Funding II, LLC), Note Indenture (CEC Funding, LLC), Note Indenture (BEC Funding II, LLC)
Replacement of Note Trustee. The Note Trustee may ---------------------------- resign at --------------------------- any time by so notifying the Note Issuer, provided that no such resignation shall be effective until either (a) the Collateral has been completely liquidated and the proceeds of the liquidation distributed to the Noteholders or (b) a successor trustee having the qualifications set forth in Section 6.11 has been designated and has accepted such trusteeship. The Holders of a majority in Outstanding Amount of the Notes of all Series may remove the Note Trustee by so notifying the Note Trustee and may appoint a successor Note Trustee. The Note Issuer shall remove the Note Trustee if:
Appears in 1 contract
Samples: Indenture (Sierra Pacific Power Co)
Replacement of Note Trustee. The Note Trustee may ---------------------------- --------------------------- resign at any time by so notifying the Note Issuer, provided that no such resignation shall be effective until either (a) the Collateral has been completely liquidated and the proceeds of the liquidation distributed to the Noteholders or (b) a successor trustee having the qualifications set forth in Section 6.11 has been designated and has accepted such trusteeship. The Holders of a majority in Outstanding Amount of the Notes of all Series may remove the Note Trustee by so notifying the Note Trustee and may appoint a successor Note Trustee. The Note Issuer shall remove the Note Trustee if:
Appears in 1 contract
Samples: Sce Funding LLC
Replacement of Note Trustee. The Note Trustee may ---------------------------- resign at any time by so notifying the Note Issuer, provided PROVIDED, HOWEVER, that no such resignation shall be effective until either (a) the Collateral has been completely liquidated and the proceeds of the liquidation distributed to the Noteholders or (b) a successor trustee having the qualifications set forth in Section 6.11 has been designated and has accepted such trusteeship. The Holders of a majority in Outstanding Amount of the Notes of all Series may remove the Note Trustee by so notifying the Note Trustee and may appoint a successor Note Trustee. The Note Issuer shall remove the Note Trustee if:
Appears in 1 contract
Samples: Note Indenture (Bec Funding LLC)
