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

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 57 contracts

Samples: Trust Agreement (Mississippi Power Capital Trust Iii), Trust Agreement (Georgia Power Capital Trust Vi), Trust Agreement (Georgia Power Co)

AutoNDA by SimpleDocs

Resignation and Removal; Appointment of Successor. No resignation or removal of any the Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.116.11. The Relevant Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the SecurityholdersCompany. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 6.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Securities of such series. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount principal amount of the Preferred Outstanding Securities Certificatesof such series, delivered to the Relevant Trustee (in its individual capacity and on behalf to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the removed Trustee within 30 days after the receipt of such notice of removal, the removed Trustee may petition at the expense of the Trust).Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:

Appears in 56 contracts

Samples: Note (Axos Financial, Inc.), Indenture (Fat Brands, Inc), Indenture (Fat Brands, Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any the Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.116.11. The Relevant Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the SecurityholdersCompany. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 6.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Securities of such series. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount principal amount of the Preferred Outstanding Securities Certificatesof such series, delivered to the Relevant Trustee (in its individual capacity and on behalf to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of a notice of removal pursuant to this paragraph, the Trustee being removed may petition, at the expense of the Trust).Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:

Appears in 27 contracts

Samples: Indenture (Diamondback Energy, Inc.), Indenture (Diamondback Energy, Inc.), Indenture (Gulfport Buckeye LLC)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 13 contracts

Samples: Trust Agreement (Mellon Capital Iii), Trust Agreement (Bankamerica Capital Viii), Trust Agreement (Wells Fargo Capital Iii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.117.11. The Relevant Subject to the immediately preceding paragraph, any Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time only by Act of the Securityholders Holders of at least a majority in Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant such Trustee (in its individual capacity and on behalf of the Trust). The Administrative Trustee may only be removed by the Holder of Common Securities at any time. If the instrument of acceptance by the successor Trustee required by Section 7.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation or removal, the Trustee may petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Trustee.

Appears in 11 contracts

Samples: Trust Agreement (Public Service Enterprise Group Inc), Trust Agreement (Public Service Electric & Gas Co), Trust Agreement (Pse&g Capital Trust Iii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersCommon Securityholder. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). In no event will the Holders of the Preferred Securities have the right to vote to appoint, remove or replace the Administrative Trustee. An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 9 contracts

Samples: Trust Agreement (PCC Capital I), Trust Agreement (Glacier Water Services Inc), Trust Agreement (Cfac Capital I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Debenture Indenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Trust Common Securities. If an a Debenture Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Trust Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Trust Common Securities at any time. In no event will the Holders of the Trust Preferred Securities have a right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 9 contracts

Samples: Trust Agreement (HPH Homebuilders 2000 Lp), Trust Agreement (HPH Homebuilders 2000 Lp), Trust Agreement (DRH Regrem Xii Lp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Issuer Trustee may be removed at any time by Act of the Holders of Common Securities. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time. In no event will the Holders of the Capital Securities have a right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 8 contracts

Samples: Trust Agreement (Banponce Trust Ii), Trust Agreement (Dime Bancorp Inc), Trust Agreement (Banponce Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount of the Preferred Capital Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 6 contracts

Samples: Trust Agreement (Southern Co Capital Trust I), Trust Agreement (Southern Co Capital Trust Ii), Trust Agreement (Mississippi Power Capital Trust Ii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the resigning Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesTrust Securityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in of the aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesTrust Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 5 contracts

Samples: Trust Agreement (Enserch Capital I), Agreement (Texas Utilities Co /Tx/), Trust Agreement (Txu Capital Iv)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Common Securities at any time. In no event will the Holders of the Preferred Securities have a right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 4 contracts

Samples: Trust Agreement (Duke Energy Capital Trust V), Trust Agreement (Duke Capital Financing Trust Iii), Trust Agreement (Citizens Communications Co)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Issuer Trustee may be removed at any time by Act of the Holders of Common Securities. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Trust Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time. In no event will the Holders of the Trust Preferred Securities have a right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 4 contracts

Samples: Trust Agreement (South Carolina Electric & Gas Co), Trust Agreement (South Carolina Electric & Gas Co), Trust Agreement (Scana Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Issuer Trustee may be removed at any time by Act of the Holder of all the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority Majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and and, in the case of the Property Trustee, on behalf of the Issuer Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time.

Appears in 4 contracts

Samples: Trust Agreement (Bank of New York Co Inc), Trust Agreement (Bny Capital Vii), Trust Agreement (Bank of New York Co Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignationresignation or removal, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by Act of the Common Securityholder at any time and only the Common Securityholder shall have the right to remove any Administrative Trustee.

Appears in 4 contracts

Samples: Trust Agreement (Bancorpsouth Inc), Trust Agreement (Bancorpsouth Inc), Trust Agreement (Bancorpsouth Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 4 contracts

Samples: Trust Agreement (Lincoln National Corp), Trust Agreement (Lincoln National Corp), Trust Agreement (Lincoln National Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignationresignation or removal, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesOutstanding Capital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by Act of the Common Securityholder at any time.

Appears in 4 contracts

Samples: Highlands Capital Trust I, Guaranty Capital Trust I, Resource Capital Trust I

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article VIII shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders and by appointing a successor Relevant Trustee. The Relevant Trustee shall appoint a successor by requesting from at least three Persons meeting the eligibility requirements its expenses and charges to serve as the Relevant Trustee on a form provided by the Administrative Trustees, and selecting the Person who agrees to the lowest expenses and charges. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the, in the case of the Property Trustee, Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event The Administrative Trustees, or any of Default shall have occurred and be continuingthem, the Relevant Trustee may be appointed, removed at any time or replaced by Act of the Holder Holders of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust)Trustee.

Appears in 3 contracts

Samples: Trust Agreement (Bb&t Capital Trust I), Trust Agreement (Bb&t Corp), Trust Agreement (Bb&t Capital Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Any Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. Unless a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Property Trustee or the Delaware Trustee, or both of them, may be removed at such time only by Act of the Holders of a majority in Liquidation Amount of the Preferred Securities, delivered to the Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of Common Securities at any time. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 3 contracts

Samples: Agreement (Usf&g Corp), Agreement (Usf&g Corp), Agreement (Usf&g Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the -44- 50 Depositor, any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If an Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 3 contracts

Samples: Trust Agreement (Cna Financial Capital Iii), Trust Agreement (Cna Financial Capital Iii), Trust Agreement (Cna Financial Capital Iii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in of the aggregate Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 3 contracts

Samples: Agreement (Texas Utilities Electric Co), Trust Agreement (Tu Electric Capital Ii), Trust Agreement (Tu Electric Capital I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 67 -61- shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 3 contracts

Samples: Trust Agreement (Atlas Air Capital Iii), Trust Agreement (Atlas Air Capital Iii), Trust Agreement (Atlas Air Capital Iii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Issuer Trustee may be removed at any time by Act of the Holders of Common Securities. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time.

Appears in 3 contracts

Samples: Trust Agreement (Northern Trust Corp), Trust Agreement (Northern Trust Corp), Trust Agreement (Compass Trust Ii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Issuer Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority Majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and and, in the case of the Property Trustee, on behalf of the Issuer Trust). An Administrative Trustee may be removed by the Holder of the Common Securities at any time.

Appears in 3 contracts

Samples: Trust Agreement (Colonial Bancgroup Inc), Trust Agreement (Colonial Capital Ii), Trust Agreement (Colonial Bancgroup Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition (pursuant to the Indenture, at the expense of the Sponsor), any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default with respect to any Debt Security shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 3 contracts

Samples: Trust Agreement (Idacorp Trust Iii), Trust Agreement (Covanta Capital Trust Iii), Trust Agreement (Idacorp Trust Iii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersCommon Securityholder. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). In no event will the Holders of the Preferred Securities have the tight to vote to appoint, remove or replace the Administrative Trustees. An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 3 contracts

Samples: Trust Agreement (Us Home & Garden Trust I), Trust Agreement (Easy Gardener Products LTD), Trust Agreement (Us Home & Garden Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Issuer Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority Majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and and, in the case of the Property Trustee, on behalf of the Issuer Trust). An Administrative Trustee may only be removed by the Holder of the Common Securities and may be so removed at any time.

Appears in 3 contracts

Samples: Trust Agreement (Southern States Capital Trust Ii), Trust Agreement (First Hawaiian Capital I), Trust Agreement (HSB Group Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Common Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time. If the instrument of acceptance by the successor Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after such removal, the Relevant Trustee may petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee.

Appears in 3 contracts

Samples: Trust Agreement (First Tennessee Capital Iv), Trust Agreement (First Tennessee Capital Iv), Trust Agreement (First Tennessee Capital Iv)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee had been made in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersCommon Securityholder. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If an Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). In no event will the Holders of the Capital Securities have the right to vote to appoint, remove or replace the Administrative Trustees. An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 3 contracts

Samples: Trust Agreement (Downey Financial Capital Trust Iii), Trust Agreement (Downey Financial Corp), Trust Agreement (Downey Financial Capital Trust Iii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 3 contracts

Samples: Trust Agreement (Usb Capital V), Trust Agreement (Mellon Bank Corp), Mellon Bank Corp

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant TrusteeRELEVANT TRUSTEE") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersDepositor. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Issuer Trustee may be removed at any time by Act of the Holder of all the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority Majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and and, in the case of the Property Trustee, on behalf of the Issuer Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time.

Appears in 3 contracts

Samples: Trust Indenture Trust Agreement (Seacoast Financial Services Corp), Trust Indenture Trust Agreement (Seacoast Financial Services Corp), Trust Indenture Trust Agreement (Seacoast Financial Services Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the resigning Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in of the aggregate Liquidation Amount of the Preferred Securities CertificatesOutstanding Capital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 3 contracts

Samples: Agreement (Texas Utilities Co /Tx/), Trust Agreement (Texas Utilities Electric Co), Trust Agreement (Texas Utilities Electric Co)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. The Relevant Trustee shall appoint a successor by requesting from at least three Persons meeting the eligibility requirements its expenses and charges to serve as the successor Trustee on a form provided by the Administrators, and selecting the Person who agrees to the lowest expenses and charges, subject to the prior consent of the Depositor which consent shall not be unreasonably withheld. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Issuer Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, The Property Trustee or the Relevant Delaware Trustee may be removed at any time by Act of the Holder Holders of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of least a majority Majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Issuer Trust)) (i) for cause or (ii) if a Debenture Event of Default shall have occurred and be continuing at any time.

Appears in 3 contracts

Samples: Trust Agreement (Aici Capital Trust), Trust Agreement (Aici Capital Trust), First Empire Capital Trust Ii

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in (based on Liquidation Amount Amounts) of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Common Securities at any time.

Appears in 3 contracts

Samples: Trust Agreement (Owens Corning Capital Ii), Trust Agreement (Owens Corning Capital Iv), Trust Agreement (Owens Corning Capital Ii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersCommon Securityholder. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). In no event will the Holders of the Preferred Securities have the right to vote to appoint, remove or replace the Administrative Trustees. An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 3 contracts

Samples: Trust Agreement (Us Home & Garden Trust I), Trust Agreement (Praegitzer Industries Inc), Trust Agreement (Us Home & Garden Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Issuer Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Issuer Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Common Securities at any time. In no event will the Holders of the Capital Securities have a right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 3 contracts

Samples: Trust Agreement (Keycorp /New/), Trust Agreement (Keycorp /New/), Trust Agreement (KeyCorp Capital VIII)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.117.11. The Relevant Subject to the immediately preceding paragraph, any Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time only by Act of the Securityholders Holders of a majority in Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant such Trustee (in its individual capacity and on behalf of the Trust). The Administrative Trustee may be removed at any time by the Holder of Common Securities only. If the instrument of acceptance by the successor Trustee required by Section 7.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation or removal, the Trustee may petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Trustee.

Appears in 3 contracts

Samples: Trust Agreement (Public Service Electric & Gas Co), Trust Agreement (Pseg Funding Trust Ii), Trust Agreement (Pseg Funding Trust Ii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. An Administrative Trustee may be removed by the Holder of Common Securities at any time. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in of the aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 2 contracts

Samples: Trust Agreement (Entergy Gulf States Inc), Trust Agreement (Entergy Gulf States Capital I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. The Holders of the Common Securities shall appoint a successor by requesting from at least three Persons meeting the eligibility requirements its expenses and charges to serve as the successor Trustee on a form provided by the Administrators, and selecting the Person who agrees to the lowest expenses and charges. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Issuer Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, The Property Trustee or the Relevant Delaware Trustee may be removed at any time by Act of the Holder Holders of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of least a majority Majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Issuer Trust)) (i) for cause, or (ii) if a Debenture Event of Default shall have occurred and be continuing at any time.

Appears in 2 contracts

Samples: Trust Agreement (Greater Community Bancorp), Trust Agreement (Pfbi Capital Trust)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the xxxx xxx xx, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders, the Depositor and the other Trustees, except that notice is only required to be delivered to the Securityholders in the event that the Property Trustee or the Delaware Trustee is the resigning Relevant Trustee. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the resigning Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesTrust Securityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in of the aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesTrust Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be appointed, replaced or removed solely by the Common Trust Securityholder at any time.

Appears in 2 contracts

Samples: Trust Agreement (Southwestern Electric Power Co), Trust Agreement (Southwestern Electric Power Co)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). In no event will the Holders of the Preferred Securities have the right to vote to appoint, remove or replace the Administrative Trustee. An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 2 contracts

Samples: Trust Agreement (Fib Capital Trust), Trust Agreement (GBB Capital I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.117.11. The Relevant Subject to the immediately preceding paragraph, any Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time only by Act of the Securityholders Holders of a majority in Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant such Trustee (in its individual capacity and on behalf of the Trust). The Administrative Trustees may be removed at any time by the Holder of Common Securities only. If the instrument of acceptance by the successor Trustee required by Section 7.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation or removal, the Trustee may petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Trustee.

Appears in 2 contracts

Samples: Trust Agreement (Public Service Enterprise Group Inc), Trust Agreement (Public Service Electric & Gas Co)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount Amounts of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 2 contracts

Samples: Trust Agreement (Tu Electric Capital I), Trust Agreement (Tu Electric Capital Ii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the resigning Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesTrust Securityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee and the Delaware Trustee may be removed at such time by Act of the Securityholders of a majority in of the aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesTrust Securities, delivered to the Relevant Property Trustee and the Delaware Trustee (in its their individual capacity and on behalf of the Trust); provided, however, that any Administrative Trustee may be removed solely by the Act of the Common Trust Securityholder.

Appears in 2 contracts

Samples: Agreement (Txu Electric Capital Viii), Trust Agreement (Txu Capital Iv)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition (pursuant to the Indenture, at the expense of the Depositor), any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 2 contracts

Samples: Trust Agreement (Associates First Capital Iii), Trust Agreement (Empire District Electric Trust Ii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Issuer Trustee may be removed at any time by Act of the Holders of Common Securities. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time.

Appears in 2 contracts

Samples: Trust Agreement (NTC Capital Iii), Trust Agreement (Bny Capital V)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed or replaced, and the total number of Trustees may be increased or decreased at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in (based on Liquidation Amount Amounts) of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Common Securities at any time.

Appears in 2 contracts

Samples: Declaration of Trust and Trust Agreement (Willamette Industries Inc), Declaration of Trust and Trust Agreement (Willamette Industries Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and ---------------- no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition (pursuant to the Indenture, at the expense of the Depositor), any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 2 contracts

Samples: Trust Agreement (Wec Capital Trust Ii), Trust Agreement (Wisconsin Energy Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount Preference of the Preferred Securities Certificatesthen Outstanding, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 2 contracts

Samples: Trust Agreement (Sei Trust I), Trust Agreement (Southern Energy Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case mxx xx, xxx "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders, the Depositor and the other Trustees, except that notice is only required to be delivered to the Securityholders in the event that the Property Trustee or the Delaware Trustee is the resigning Relevant Trustee. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the resigning Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesTrust Securityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in of the aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesTrust Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be appointed, replaced or removed solely by the Common Trust Securityholder at any time.

Appears in 2 contracts

Samples: Trust Agreement (Aep Capital Trust Iii), Trust Agreement (American Electric Power Co Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding sentence, the Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the SecurityholdersDepositor. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 thirty (30) days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act of or the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).Delaware

Appears in 2 contracts

Samples: Trust Agreement (MRH Capital Trust I), Trust Agreement (MRH Capital Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders, the Depositor and the other Trustees. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the resigning Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesTrust Securityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in of the aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesTrust Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be appointed, replaced or removed solely by the Common Trust Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (Pp&l Capital Funding Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the such Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Common 39 44 Securities at any time. In no event will the Holders of the Preferred Securities have the right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 1 contract

Samples: Trust Agreement (Ebh Capital Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument Holders of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignationCommon Securities, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless unless an Indenture Event of Default shall have occurred and be continuing, the Relevant any Issuer Trustee may be removed at any time by Act of the Holder Holders of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority Majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the retiring Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time.

Appears in 1 contract

Samples: Trust Agreement (Northern Trust Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The 260 Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Issuer Trustee may be removed at any time by Act of the Holders of Common Securities. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Trust Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time. In no event will the Holders of the Trust Preferred Securities have a right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 1 contract

Samples: Trust Agreement (Sce&g Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture Subject to the following sentence, any of the Trustees may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesOutstanding Capital Securities, delivered to the Relevant Property Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (Vib Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding sentence, a Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. Unless a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed and replaced at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Property Trustee or the Delaware Trustee, or both of them, may be removed at such time only by Act of the Holders of a majority in Liquidation Amount of the Capital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrator may be removed and replaced by the Holder of Common Securities at any time. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignationremoval, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Agreement (Usf&g Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Holders of the Common Securities. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (Harleysville Group Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersSecurityholders and the other Trustees. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Stock Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Stock Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). A Regular Trustee may be removed by the Common Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (Sce Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Issuer Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Issuer Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (Cullen Frost Capital Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The 51 44 Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Common Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time. If the instrument of acceptance by the successor Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after such removal, the Relevant Trustee may petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee.

Appears in 1 contract

Samples: Trust Agreement (First Tennessee National Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. The Relevant Trustee shall appoint a successor by requesting from at least three Persons meeting the eligibility requirements its expenses and charges to serve as the Relevant Trustee on a form provided by the Administrators, and selecting the Person who agrees to the lowest expenses and charges. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Issuer Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, The Property Trustee or the Relevant Delaware Trustee may be removed at any time by Act of the Holder Holders of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of least a majority Majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Issuer Trust)) (i) for cause, or (ii) if a Debenture Event of Default shall have occurred and be continuing at any time.

Appears in 1 contract

Samples: Trust Agreement (Equitable Resources Capital Trust I)

AutoNDA by SimpleDocs

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. The Holders of the Common Securities shall appoint a successor by requesting from at least three Persons meeting the eligibility requirements its expenses and charges to serve as the successor Trustee on a form provided by the Administrative Trustees, and selecting the Person who agrees to the lowest expenses and charges. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of Success Capital, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any of the Relevant Trustee Issuer Trustees may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Debenture Event of Default shall have has occurred and be is continuing, the Relevant Trustee Issuer Trustees may be removed at such time by Act of the Securityholders Holders of a majority Majority in Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust)Securities.

Appears in 1 contract

Samples: Trust Agreement (Success Bancshares Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in aggregate Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Trust Agreement (Western Resources Inc /Ks)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).. An Administrative Trustee may be removed by the Common Securityholder at any time. 47 42

Appears in 1 contract

Samples: Trust Agreement (Chase Capital Iii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an a Debenture Indenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Trust Common Securities. If an a Debenture Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Trust Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Trust Common Securities at any time. In no event will the Holders of the Trust Preferred Securities have a right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 1 contract

Samples: Trust Agreement (Semco Energy Inc)

Resignation and Removal; Appointment of Successor. No -------------------------------------------------- resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.117.11. The Relevant Subject to the immediately preceding paragraph, any Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant TrusteeDepositor. Unless an Indenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by the Depositor. Notwithstanding the foregoing, Depositor covenants to make all payments due to the Trustee hereunder prior to any such removal. If an Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time only by Act of the Securityholders Holders of at least a majority in Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant such Trustee (in its individual capacity and on behalf of the Trust). The Administrative Trustee may only be removed by the Depositor at any time. If the instrument of acceptance by the successor Trustee required by Section 7.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation or removal, the Trustee may petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Trustee.

Appears in 1 contract

Samples: Trust Agreement (SJG Capital Trust)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant TrusteeRELEVANT TRUSTEE") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may may, or any Securityholder who has been a Securityholder of Trust Preferred Securities for at least six months may, on behalf of himself and all others similarly situated, petition (at the expense of the Depositor), any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Note Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by act of the Depositor. If a Note Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in aggregate Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).of

Appears in 1 contract

Samples: Trust Agreement (Teco Capital Trust Iii)

Resignation and Removal; Appointment of Successor. No nO resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the such Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Common Securities at any time. In no event will the Holders of the Preferred Securities have the right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 1 contract

Samples: Trust Agreement (Ozark Capital Trust)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersCommon Securityholder. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).and

Appears in 1 contract

Samples: Trust Agreement (American Coin Merchandising Trust Iv)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersDepositor and, in the case of the Property Trustee and the Delaware Trustee, to the Holders. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Issuer Trust, any court in the State of competent jurisdiction Delaware for the appointment of a successor Relevant Trustee. Unless an Indenture a Note Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Note Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of at least a majority in aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Issuer Trust). An Administrative Trustee may be removed only by the Holder of the Common Securities at any time.

Appears in 1 contract

Samples: Trust Agreement (Everest Re Capital Trust)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersDepositor. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Issuer Trustee may be removed at any time by Act of the Holder of all the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority Majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and and, in the case of the Property Trustee, on behalf of the Issuer Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time.

Appears in 1 contract

Samples: Trust Indenture Trust Agreement (Sterling Bancorp Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in of the aggregate Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Agreement (Texas Utilities Electric Co)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the 42 50 successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in (based on Liquidation Amount Amounts) of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Common Securities at any time.

Appears in 1 contract

Samples: Trust Agreement (Owens Corning Capital Ii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Any Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. Unless a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Property Trustee or the Delaware Trustee, or both of them, may be removed at such time only by Act of the Holders of a majority in Liquidation Amount of the Capital Securities, delivered to the Trustee (in its individual capacity and on behalf of the Trust). An Administrator may be removed by the Holder of Common Securities at any time. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Trust Agreement (Usf&g Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in of the aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Trust Agreement (Mp&l Capital I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Common Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at such time only by Act of the Securityholders of a majority in of the aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Property Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Expense Agreement (Midamerican Energy Financing Ii)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Issuer Trustee may be removed at any time by Act of the Holder of all the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority Majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and and, in the case of the Property Trustee, on behalf of the Issuer Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time.

Appears in 1 contract

Samples: Trust Agreement (Bt Capital Trust B)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersCommon Securityholder. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If an Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). In no event will the Holders of the Capital Securities have the right to vote to appoint, remove or replace the Administrative Trustee. An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (Downey Financial Capital Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article VIII shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolder of the Common Securities. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Agent may be removed by the Common Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (First Bank System Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Any Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (Hartford Financial Services Group Inc/De)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.118.12. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 8.12 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Trust Agreement (Mony Group Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the cxxx xxx xx, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders, the Depositor and the other Trustees, except that notice is only required to be delivered to the Securityholders in the event that the Property Trustee or the Delaware Trustee is the resigning Relevant Trustee. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the resigning Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesTrust Securityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in of the aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesTrust Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be appointed, replaced or removed solely by the Common Trust Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (Southwestern Electric Power Co)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Common Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).. An Administrative Trustee may be removed by the Common Securityholder at any time. If the instrument of acceptance by the successor Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after such removal, the Relevant Trustee may petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. 49 42

Appears in 1 contract

Samples: Trust Agreement (First Tennessee Capital Iv)

Resignation and Removal; Appointment of Successor. No ------------------------------------------------- resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignationresignation or removal, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesOutstanding Capital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by Act of the Common Securityholder at any time.

Appears in 1 contract

Samples: Commonwealth Bankshares Inc

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersSecurityholders and the other Trustees. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). A Regular Trustee may be removed by the Common Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (Sce Trust I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. The Relevant Trustee shall appoint a successor by requesting from at least three Persons meeting the eligibility requirements its expenses and charges to serve as the successor Trustee on a form provided by the Administrators, and selecting the Person who agrees to the lowest expenses and charges, subject to the prior consent of the Depositor which consent shall not be unreasonably withheld. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Issuer Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, The Property Trustee or the Relevant Delaware Trustee may be removed at any time by Act of the Holder Holders of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of least a majority Majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Issuer Trust)) (i) for cause, or (ii) if a Debenture Event of Default shall have occurred and be continuing at any time.

Appears in 1 contract

Samples: Gold Banc Corp Inc

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in aggregate Liquidation Amount Value of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Trust Agreement (Sinclair Broadcast Group Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any the Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article VI shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11611. The Relevant Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the SecurityholdersIssuer and the Guarantors. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 611 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Issuer or the Guarantors, any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Securities of such series. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount aggregate principal amount of the Preferred Outstanding Securities Certificatesof such series, upon written notice delivered to the Relevant Trustee (in its individual capacity and on behalf to the Issuer and the Guarantors. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Trust).Issuer or the Guarantors, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. If at any time:

Appears in 1 contract

Samples: Indenture (Allegion US Holding Co Inc.)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Common Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at such time only by Act of the Securityholders of a majority in of the aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Property Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Trust Agreement (Midamerican Energy Financing Ii)

Resignation and Removal; Appointment of Successor. No ------------------------------------------------- resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in aggregate Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Trust Agreement (Rouse Company)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Issuer Trustee may be removed at any time by Act of the Holder of all the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority Majority in Liquidation Amount of the Trust Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and and, in the case of the Property Trustee, on behalf of the Issuer Trust). An Administrative Trustee may be removed by the Holders of Common Securities at any time.

Appears in 1 contract

Samples: Trust Agreement (Bank of New York Co Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an a Indenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If a Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee(s) may be removed by the Common Securityholder at any time.

Appears in 1 contract

Samples: Trust Agreement (Oneok Inc /New/)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (as the case may be, the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the resigning Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common SecuritiesSecurityholder. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in of the aggregate Liquidation Amount of the Preferred Securities CertificatesOutstanding Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Trust Agreement (Tu Electric Capital V)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Holder. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Holder at any time.

Appears in 1 contract

Samples: Trust Agreement (First Union Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuing, the Relevant Trustee may be removed at such time by Act of the Securityholders of a majority in Liquidation Amount of the Preferred Securities Certificates, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust).

Appears in 1 contract

Samples: Trust Agreement (Alabama Power Co)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant continuing any Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Debenture Event of Default shall have has occurred and be is continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). In no event will the Holders of the Preferred Securities have the right to vote to appoint, remove or replace the Administrators, which voting rights are vested exclusively in the Depositor, as Holder of the Common Securities.

Appears in 1 contract

Samples: Trust Agreement (Bear Stearns Companies Inc)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Debenture Indenture Event of Default shall have occurred and be continuing, the Relevant any Trustee may be removed at any time by Act of the Holder of the Trust Common Securities. If an Debenture Indenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or the Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Trust Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Trust Common Securities at any time. In no event will the Holders of the Trust Preferred Securities have a right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 1 contract

Samples: Trust Agreement (Semco Capital Trust)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Holders of the Common Securities. If a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holders of the Common Securities at any time.

Appears in 1 contract

Samples: Trust Agreement (Uhc Capital I)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time with respect to the Trust Securities by giving written notice thereof to the Securityholders. If the instrument of acceptance by a the successor Relevant Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Depositor, any court of competent jurisdiction for the appointment of a successor Relevant TrusteeTrustee with respect to the Trust Securities. Unless an Indenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Securityholder. If an Event of Default shall have occurred and be continuing, the Relevant Property Trustee may be removed at any time by Act or the Delaware Trustee, or both of the Holder of the Common Securities. If an Indenture Event of Default shall have occurred and be continuingthem, the Relevant Trustee may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Outstanding Preferred Securities CertificatesSecurities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Common Securityholder at any time.

Appears in 1 contract

Samples: Section Agreement (Cna Financial Corp)

Resignation and Removal; Appointment of Successor. No resignation or removal of any Issuer Trustee (the "Relevant Trustee") and no appointment of a successor Relevant Issuer Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Relevant Issuer Trustee in accordance with the applicable requirements of Section 8.11. The Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving written notice thereof to the SecurityholdersHolders. If the instrument of acceptance by a the successor Relevant Issuer Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 60 days after the giving of such notice of resignation, the resigning Relevant Trustee may petition petition, at the expense of the Issuer Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. Unless an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant any Issuer Trustee may be removed at any time by Act of the Holder of the Common Securities. If an Indenture a Debenture Event of Default shall have occurred and be continuing, the Relevant Property Trustee or Delaware Trustee, or both of them, may be removed at such time by Act of the Securityholders Holders of a majority in Liquidation Amount of the Preferred Securities CertificatesCapital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An Administrative Trustee may be removed by the Holder of the Common Securities at any time. In no event will the Holders of the Capital Securities have a right to vote to appoint, remove or replace the Administrative Trustees.

Appears in 1 contract

Samples: Trust Indenture Trust Agreement (Citizens Banking Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.