Common use of Resignation and Removal; Appointment of Successor Trustee Clause in Contracts

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer and by mailing notice thereof by first-class mail to Holders of Securities at their last addresses as they shall appear on the Securities Register. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed proper and prescribe, appoint a successor trustee.

Appears in 7 contracts

Samples: Indenture (NRG Energy Inc), Indenture (NRG Energy Inc), Indenture (NRG Energy Inc)

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Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer Company and by mailing notice thereof by first-class mail to Holders of Securities Notes at their last addresses as they shall appear on the Securities Notes Register. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction jurisdiction, at the expense of the Company, for the appointment of a successor trustee, or any Securityholder Noteholder who has been a bona fide Holder of a Security Note or Securities Notes for at least six months may, on behalf of himself itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 3 contracts

Samples: Indenture (Edison Mission Finance Co), Indenture (Edison Mission Energy), Indenture (Edison Mission Energy)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer Company and to the Holders, such notice to the Holders to be given by mailing (by first class mail) the same within 30 days after such notice thereof by first-class mail is given to Holders of Securities at their last addresses as they shall appear on the Securities RegisterCompany. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 60 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 3 contracts

Samples: Indenture (Home Depot Inc), Home Depot Inc, Home Depot Inc

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer and by mailing notice thereof by first-class mail to Holders holders of Securities at their last addresses as they shall appear on the Securities RegisterSecurity register. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 60 days after the mailing of such notice of resignation, the resigning trustee, the Issuer, the resigning Trustee or the Holders of at least ten percent in aggregate principal amount of the Securities may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.. In case at any time any of the following shall occur:

Appears in 2 contracts

Samples: Weirton Steel Corp, Weirton Steel Corp

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer Company and by mailing notice thereof by first-class mail to Holders holders of Securities at their last addresses as they shall appear on the Securities RegisterSecurity register. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed proper deem proper, prescribe and prescribe, appoint a successor trustee.

Appears in 2 contracts

Samples: Conversion Notes Registration Rights Agreement (Schein Pharmaceutical Inc), Conversion Notes Registration Rights Agreement (Danbury Pharmacal Puerto Rico Inc)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer Issuers and by mailing notice thereof by first-class mail to Holders holders of Securities at their last addresses as they shall appear on the Securities RegisterSecurity register. Upon receiving such notice of resignation, the Issuer Issuers shall promptly appoint a successor trustee by written instrument instrument, in duplicate, executed by authority of the Board of DirectorsDirectors of each Issuer, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 2 contracts

Samples: Indenture (Dennys Holdings Inc), Indenture (Dennys Holdings Inc)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer Issuers and by mailing notice thereof by first-class mail to Holders holders of Securities at their last addresses as they shall appear on the Securities RegisterSecurity register. Upon receiving such notice of resignation, the Issuer Issuers shall promptly appoint a successor trustee by written instrument instrument, in duplicate, executed by authority of the Board of DirectorsDirectors of each Issuer, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Advantica Restaurant Group Inc)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer and by mailing notice thereof by first-class mail to Holders holders of Securities at their last addresses as they shall appear on the Securities RegisterSecurity register. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 60 days after the mailing of such notice of resignation, the resigning trustee, the Issuer, the resigning Trustee or the Holders of at least ten percent in aggregate principal amount at maturity of the Securities may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.. In case at any time any of the following shall occur:

Appears in 1 contract

Samples: Weirton Steel Corp

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer and by mailing notice thereof by first-class mail to Holders holders of Securities at their last addresses as they shall appear on the Securities RegisterSecurity register. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee Trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no such successor trustee Trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or any Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deemed proper deem proper, prescribe and prescribe, appoint a successor trusteeTrustee.

Appears in 1 contract

Samples: Southwestern Financial (Ich Corp /De/)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving not less than 60 days' written notice of resignation to the Issuer and the Guarantor and by mailing notice thereof by first-class mail to Holders of Securities Noteholders at their last addresses as they shall appear on the Securities Register. Upon receiving such notice of resignation, the Issuer and the Guarantor shall promptly appoint a successor trustee Trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no such successor trustee Trustee shall have been so appointed and have accepted appointment within 30 days after the mailing giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or any Securityholder Noteholder who has been a bona fide Holder holder of a Security Note or Securities Notes for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trusteeTrustee.

Appears in 1 contract

Samples: PCCW LTD

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer and by mailing notice thereof by first-class mail to Holders of Securities at their last addresses as they shall appear on the Securities Register. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (NRG Energy Inc)

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Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer and by mailing notice thereof by first-class mail to Holders of Securities Senior Notes at their last addresses as they shall appear on the Securities RegisterSenior Note register. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board their respective Boards of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee Trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder Senior Noteholder who has been a bona fide Holder of a Security Senior Note or Securities Senior Notes for at least six months may, on behalf be-half of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Triarc Companies Inc)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving at least 30 days written notice of resignation to the Issuer Company and by mailing notice thereof by first-class mail to Holders of the Securities at their last addresses as they shall appear on the Securities Security Register. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee or trustees by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee or trustees. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder Holder who has been a bona fide Holder of a Security or Securities for at least six months may, subject to the provisions of Section 6.12, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Sirius International Insurance Group, Ltd.)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer and by mailing notice thereof by first-class mail to Holders holders of Securities at their last addresses as they shall appear on the Securities Register. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder holder of a Security Securities or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Eco Telecom LTD

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer and by mailing notice thereof by first-class mail to Holders holders of Securities at their last addresses as they shall appear on the Securities RegisterSecurity register. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Advantica Restaurant Group Inc

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of resignation to the Issuer and by mailing notice thereof by first-class mail to Holders of Securities at their last addresses as they shall appear on the Securities RegisterCompany. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee or trustees with respect to the Notes by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee or trustees. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security Note or Securities Notes for at least six months may, subject to the provisions of Section 5.12, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Quadramed Corp

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee may at any time resign by giving written notice of resignation to the Issuer Company and by mailing notice thereof by first-class mail to Holders holders of Securities at their last addresses as they shall appear on the Securities RegisterSecurity register. Upon receiving such notice of resignation, the Issuer Company shall promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no such successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee trustee may petition any court of competent jurisdiction for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder holder of a Security or Securities for at least six months may, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deemed deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Benton Oil & Gas Co

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