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

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving written notice of resignation to the Issuer. Upon receiving such notice of resignation, the Issuershall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trustees. If no successor trustee shall have been so appointed with respect to any series 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 of the applicable series 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Progressive Corp/Oh/)

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Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, Trustee or any trustee or trustees successor hereafter appointed, appointed may at any time resign with respect to the Notes of one or more or all series of Securities bygiving by giving written notice of resignation thereof to the IssuerCompany. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable Notes of that series by written instrument instrument, in duplicate, executed by authority order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 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 trusteetrustee with respect to Notes of that series, or any Securityholder Noteholder of that series who has been a bona fide Holder holder of a Security Note or Securities of the applicable series Notes for at least six months may, subject to the provisions of Section 5.126.08, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Louisville Gas & Electric Co /Ky/)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving upon 30 days written notice of resignation to the IssuerCompany and by mailing notice of such resignation to the Holders of then Outstanding Securities at their addresses as they shall appear on the registry books. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series 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 Holder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.128.12, 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: New Millennium Homes LLC

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving by giving written notice of resignation to the Issuer. Upon receiving such notice of resignation, the Issuershall Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of DirectorsDirectors of the Issuer, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series 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 trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series 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 deem proper and prescribe, appoint a successor trustee.. (b) In case at any time any of the following shall occur:

Appears in 1 contract

Samples: Freeport McMoran Copper & Gold Inc

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of Securities bygiving by giving not less than 60 days' written notice of resignation to the IssuerIssuer and the Guarantor and by mailing notice thereof by first-class mail to Noteholders at their last addresses as they shall appear on the Register, and, as long as the Notes are listed on the Luxembourg Stock Exchange, by publishing notice thereof at the expense of the Issuer in an Authorized Newspaper. Upon receiving such notice of resignation, the Issuershall Issuer and the Guarantor shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trusteesTrustee. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing giving of such notice of resignation, the resigning trustee 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 of the applicable series 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 trusteeTrustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.

Appears in 1 contract

Samples: Indenture (PCCW LTD)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Subordinated Securities bygiving by giving written notice of resignation to the IssuerCompany. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trustees. If no successor trustee shall have been so appointed with respect to any series 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 Subordinated Security or Subordinated Securities of the applicable series 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Subordinated Indenture (Quadramed Corp)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee Trustee or trustees Trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving by giving written notice of resignation to the Issuer. Upon receiving such notice of resignation, the Issuershall Issuer shall promptly appoint a successor trustee Trustee or trustees Trustees with respect to the applicable series 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 Trustee or trusteesTrustees. If no successor trustee Trustee shall have been so appointed with respect to any series 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 trusteeTrustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.12SECTION 6.12, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trusteesuccessor. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trusteeTrustee.

Appears in 1 contract

Samples: Citizens Communications Co

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving Notes by giving written notice of resignation to the IssuerCompany and by mailing notice thereof by first class mail to the Holders of Notes at their last addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trustees. If no successor trustee shall have been so appointed with respect to any series 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 Holder who has been a bona fide Holder of a Security or Securities of the applicable series Note for at least six months may, subject to the provisions of Section 5.127.11, on behalf of himself and all others similarly situated, petition at the expense of the Company any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Osi Pharmaceuticals Inc)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series the Series of Securities bygiving Notes by giving written notice of resignation to the IssuerCompany and by mailing notice thereof to the Holders in the manner and to the extent provided in Section 10.4. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 trustee or trustees. If no successor trustee shall have been so appointed with respect to any series the Series 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 Noteholder who has been a bona fide Holder of a Security or Securities of the applicable series Series 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Kellogg Co)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving by giving written notice of resignation to the Issuer. Upon receiving such notice of resignation, the Issuershall Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trustees. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing sending of such notice of resignation, the resigning trustee may petition any court of competent jurisdiction at the expense of the Issuer for the appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (PayPal Holdings, Inc.)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving the Subordinated Notes by giving written notice of resignation to the IssuerIssuer and by mailing notice thereof by first class or equivalent mail to the Holders at their last addresses as they shall appear on the Register. Upon receiving such notice of resignation, the Issuershall Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of DirectorsBoard, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series 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 Noteholder who has been a bona fide Holder of a Security or Securities of the applicable series Noteholder for at least six months may, subject to the provisions of Section 5.124.12, 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Abn Amro Bank Nv

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Indenture Trustee may at any time resign with respect to one or more or all series of Securities bygiving Notes by giving not less than 90 days' prior written notice of resignation to the IssuerIssuer and to the Holders of such Notes as provided in this Indenture. Upon receiving such notice of resignation, the Issuershall Issuer shall promptly appoint cause a successor trustee or trustees with respect to the applicable series to be appointed by written instrument in duplicate, executed by authority of the Board of DirectorsIssuer, one copy of which instrument shall be delivered to the resigning Trustee trustee and one copy to the successor trustee or trusteesof such series. If no successor trustee shall have been so appointed with respect to any series 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 trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Allstate Life Global Funding

Resignation and Removal; Appointment of Successor Trustee. (ac) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving by giving written notice of resignation to the Issuer. Upon receiving such notice of resignation, the Issuershall Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trustees. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days 30. 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 trusteeTrustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 5.124.12, 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 deem proper and prescribe, appoint a successor trusteeTrustee.

Appears in 1 contract

Samples: Indenture (Planetout Inc)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to the Securities of one or more or all series of Securities bygiving by giving written notice of resignation to the IssuerCompany and to the Holders of Securities of such series, such notice to the Holders to be given by mailing (by first class mail) the same within 30 days after such notice is given to the Company. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series Trustee by written instrument in duplicate, executed by authority of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trusteesTrustee. If no successor trustee Trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignation, the resigning trustee may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trusteeTrustee, or any Securityholder of the affected series who has been a bona fide Holder holder of a Security or Securities of the applicable affected series for at least six months may, subject to the provisions of Section 5.12, on behalf of himself itself 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 deem proper and prescribeproper, appoint a successor trusteeTrustee.

Appears in 1 contract

Samples: Indenture (Lexmark International Inc /Ky/)

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Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving Notes by giving written notice of resignation to the IssuerCompany and by mailing notice thereof by first class mail to the Holders of Notes at their last addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trustees. If no successor trustee shall have been so appointed with respect to any series 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 Noteholder who has been a bona fide Holder of a Security or Securities of the applicable series Note for at least six months may, subject to the provisions of Section 5.127.11, on behalf of himself and all others similarly situated, petition at the expense of the Company any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Osi Pharmaceuticals Inc

Resignation and Removal; Appointment of Successor Trustee. (a) The Subject to Section 5.9(d), the Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving the Notes by giving thirty (30) days’ written notice of resignation to the IssuerCompany. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 5.8 it shall resign immediately in the manner and with the effect hereinafter specified in this Section 5.9 Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 trustee or trustees. If no successor trustee shall have been so appointed with respect to any series the Notes and have accepted appointment within 30 thirty (30) days after the mailing giving 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 the Holders of a Security or Securities at least 10% in aggregate principal amount of the applicable series for at least six months may, subject to the provisions of Section 5.12, on behalf of himself and all others similarly situated, Notes may petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and as it may prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Cresud Inc)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving Notes by giving written notice of resignation to the IssuerCompany and by mailing notice thereof by first class mail to the Holders of Notes at their last addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trustees. If no successor trustee shall have been so appointed with respect to any series 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 Noteholder who has been a bona fide Holder of a Security or Securities of the applicable series Note for at least six months may, subject to the provisions of Section 5.127.11, 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Province Healthcare Co)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving by giving written notice of resignation to the Issuer. Upon receiving such notice of resignation, the Issuershall Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trustees. If no successor trustee shall have been so appointed with respect to any series 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 holder of a Security or Securities of the applicable series 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Progressive Corp/Oh/)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving Notes by giving written notice of resignation to the IssuerCompany and by mailing notice thereof by first class mail to the Holders of Notes at their last addresses as they shall appear on the Note register. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trustees. If no successor trustee shall have been so appointed with respect to any series 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 Noteholder who has been a bona fide Holder of a Security or Securities of the applicable series Note for at least six months may, subject to the provisions of Section 5.126.11, 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Gillette Co

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving by giving written notice of resignation to the Issuer. Upon receiving such notice of resignation, the Issuershall Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trustees. If no successor trustee shall have been so appointed with respect to any series 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 of the applicable series 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, any as it may deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Progressive Corp/Oh/)

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, Trustee may at any time resign with respect to one or more or all series of the Securities bygiving by giving written notice of resignation to the IssuerCompany and to the Holders of the Securities, such notice to the Holders to be given by mailing (by first class mail) the same within 30 days after such notice is given to the Company. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 or trusteestrustee. If no successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 60 days after the mailing of such notice of resignation, the resigning 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 of the applicable series 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Honeywell International Inc)

Resignation and Removal; Appointment of Successor Trustee. (a) The Subject to Section 5.9(d), the Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving the Notes by giving 30 days’ written notice of resignation to the IssuerCompany. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 5.8, it shall resign immediately in the manner and with the effect hereinafter specified in this Section 5.9. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series 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 trustee or trustees. If no successor trustee shall have been so appointed with respect to any series the Notes and have accepted appointment within 30 days after the mailing giving 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 the Holders of a Security or Securities at least 10% in aggregate principal amount of all of the applicable series for at least six months may, subject to the provisions of Section 5.12, on behalf of himself and all others similarly situated, Notes may petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and as it may prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Grupo Financiero Galicia Sa

Resignation and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities bygiving Notes by giving written notice of resignation to the IssuerCompany and by mailing notice of such resignation to the Holders of then Outstanding Notes of each series affected at their addresses as they shall appear on the Note Register. Upon receiving such notice of resignation, the Issuershall Company shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of DirectorsDirectors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor trustee shall have been so appointed with respect to any series 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 (and any and all related fees, costs, and expenses (including attorneys’ fees and expenses) shall be paid or otherwise reimbursed to the Trustee by Company), or any Securityholder Holder who has been a bona fide Holder of a Security Note or Securities Notes of the applicable series for at least six months may, subject to the provisions of Section 5.126.12, on behalf of himself or herself 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 deem proper and prescribe, appoint a successor trustee.

Appears in 1 contract

Samples: Indenture (Regal Rexnord Corp)

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