Common use of Resignation and Removal of Trustee Clause in Contracts

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 96 contracts

Samples: Pooling and Servicing Agreement (Saxon Asset Securities Trust 2002-1), Pooling and Servicing Agreement (First Horizon Asset Securities Inc), Pooling and Servicing Agreement (First Horizon Asset Securities Inc)

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Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed by the Depositor and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee of appointment as provided in Section 8.8 8.08 hereof.

Appears in 50 contracts

Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (MASTR Seasoned Securitization Trust 2004-1), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Ps THR Certs 2004-1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts trust hereby created by giving written notice thereof to the Depositor, the Seller, the Servicer and the Rating Agencies. Upon receiving such notice of resignation of the Trustee, the Depositor shall promptly appoint a successor Trustee that meets the requirements in Section 8.06, by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6Trustee. If no successor trustee meeting such qualifications Trustee shall have been so appointed and have having accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of actingbe legally unable to act, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee. If the Depositor removes the Trustee and under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor trustee Trustee that meets the requirements of Section 8.06, by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer successor Trustee and one copy to the successor trusteeServicer. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master ServicerDepositor, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice A copy of any removal of such instrument shall be delivered to the Certificateholders, the Trustee shall be given to each Rating Agency and the Servicer by the Successor TrusteeDepositor. Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.7 8.07 shall not become effective upon until acceptance of appointment by the successor trustee Trustee, as provided in Section 8.8 8.08 hereof.

Appears in 35 contracts

Samples: Pooling and Servicing Agreement (Jpmac 2007-Ch2), Pooling and Servicing Agreement (J.P. Morgan Mortgage Acquisition Trust 2007-He1), Pooling and Servicing Agreement (Jpmac 2007-Ch2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, DLJMC, the Trust Administrator, the Master Servicer, the Special Servicer and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 32 contracts

Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-6a), Pooling and Servicing Agreement (CSFB Mortgage Back Pass THR Cer Ser 2003-Ar2), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Series 2002-Ar33)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, the Sellers, the Trust Administrator, the Master Servicer, the Special Servicer and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 32 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-5), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 28 contracts

Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp), Pooling and Servicing Agreement (Mellon Residential Funding Corp Mor Pas THR Cer Ser 01 Tbc1), Pooling and Servicing Agreement (Cwabs Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and the Master Servicer and by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.08 and meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, Servicer one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 26 contracts

Samples: Pooling and Servicing Agreement (Cwabs Asset-Backed Certificates Trust 2005-Im3), Pooling and Servicing Agreement (Cwabs Inc. Asset-Backed Certificates Trust 2005-Im2), Pooling and Servicing Agreement (Cwabs Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee Trustee, and shall, within 30 days after such removal, appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 24 contracts

Samples: Pooling and Servicing Agreement (Popular ABS Mortgage Pass-Through Trust 2006-D), Pooling and Servicing Agreement (Equity One Mortgage Pass-Through Trust 2003-2), Pooling and Servicing Agreement (Popular ABS Inc Mortgage Pass-Through Certificates Series 2004-4)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof8.08.

Appears in 23 contracts

Samples: Pooling and Servicing Agreement (BellaVista Mortgage Trust 2005-1), Pooling and Servicing Agreement (BellaVista Mortgage Trust 2004-2), Pooling and Servicing Agreement (BellaVista Funding CORP)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed by the Depositor and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee of appointment as provided in Section 8.8 8.08 hereof.

Appears in 20 contracts

Samples: Pooling and Servicing Agreement (STARM Mortgage Loan Trust 2007-S1), Pooling and Servicing Agreement (Starm Mortgage Loan Trust 2007-2), Pooling and Servicing Agreement (STARM Mortgage Loan Trust 2007-3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor Depositor, the Servicer, the NIMs Insurer and by mailing notice of resignation by first Class mail, postage prepaid, to the Master Servicer Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.08 and meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the DepositorDepositor or the NIMs Insurer, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of all Classes of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 18 contracts

Samples: Pooling and Servicing Agreement (Chase Funding Inc), Pooling and Servicing Agreement (Chase Funding Trust, Series 2004-2), Pooling and Servicing Agreement (Chase Funding Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. As a condition to the effectiveness of any such resignation, at least 15 calendar days prior to the effective date of such resignation, the Trustee shall provide (x) written notice to the Depositor of any successor pursuant to this Section and (y) in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K with respect to the resignation of the Trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, or (iv) during the period that the Depositor is required to file Exchange Act Reports with respect to the Trust Fund, the Trustee fails to comply with its obligations under the last sentence of Section 7.1, Section 8.9 or Article X and such failure is not remedied within the lesser of ten (10) calendar days or such period in which the applicable Exchange Act Report can be filed timely (without taking into account any extensions), then, in the case of clauses (i) through (iii), then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 18 contracts

Samples: Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2006-4), Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2007-Aa2), Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Fa7)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts Trust hereby created by giving written notice of resignation thereof to the Depositor Depositor, the Seller and the Master Servicer and each Servicer, with a copy to the Rating Agency not less than 60 days before the date specified in Agencies. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Depositor shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting triplicate, one copy of which instrument shall be delivered to each of the qualifications set forth in Section 8.6resigning Trustee and the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicatemultiple copies, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor TrusteeTrustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in the resignation or removal, as applicable, of LaSalle Bank National Association as Swap Administrator. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof9.09 hereof and upon acceptance of appointment by a successor swap administrator under the Swap Administration Agreement.

Appears in 14 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He8), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Tc1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor Depositor, the NIMS Insurer and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee acceptable to the NIMS Insurer and in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed by the Depositor and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the NIMS Insurer or the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the NIMS Insurer, the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee acceptable to the NIMS Insurer, by written instrument, in triplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights or the NIMS Insurer may at any time remove the Trustee and appoint a successor trustee acceptable to the NIMS Insurer, by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee of appointment as provided in Section 8.8 8.08 hereof.

Appears in 14 contracts

Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-Hf2), Pooling and Servicing Agreement (Mastr Second Lien Trust 2005-1), Pooling and Servicing Agreement (MASTR Second Lien Trust 2006-1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. As a condition to the effectiveness of any such resignation, at least 15 calendar days prior to the effective date of such resignation, the Trustee shall provide (x) written notice to the Depositor of any successor pursuant to this Section and (y) in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K with respect to the resignation of the Trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then or (iv) during the period that the Depositor is required to file Exchange Act Reports with respect to the Trust Fund, the Trustee fails to comply with its obligations under the last sentence of Section 7.1, Section 8.9 or Article X and such failure is not remedied within the lesser of ten (10) calendar days or such period in which the applicable Exchange Act Report can be filed timely (without taking into account any extensions), then, in the case of clauses (i) through (iii), the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 13 contracts

Samples: Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2007-Ar1), Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Aa5), Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Aa8)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. As a condition to the effectiveness of any such resignation, at least 15 calendar days prior to the effective date of such resignation, the Trustee shall provide (x) written notice to the Depositor of any successor pursuant to this Section and (y) in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K with respect to the resignation of the Trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or liquidation,(iii) (A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax or (iv) during the period that the Depositor is required to file Exchange Act Reports with respect to the Trust Fund, then the Trustee fails to comply with its obligations under the last sentence of Section 7.01, the preceding paragraph, Section 8.09 or Article XI and such failure is not remedied within the lesser of 10 calendar days or such period in which the applicable Exchange Act Report can be filed timely (without taking into account any extensions), then, in the case of clauses (i) through (iii), the Depositor or the Master Servicer Servicer, or in the case of clause (iv), the Depositor, may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and removed, one complete set to the successor so appointedappointed and one complete set to the Depositor, together with a written description of the basis of such removal. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 13 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-11cb), Pooling and Servicing Agreement (Alternative Loan Trust 2006-7cb), Pooling and Servicing Agreement (Alternative Loan Trust 2006-6cb)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, the Seller, the Trust Administrator, the Master Servicer, the Special Servicer and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 13 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates Series 2005-4), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2006-9), Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-11)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and by mailing notice of resignation by first class mail, postage prepaid, to the Master Servicer Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.09, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee acceptable to the NIMs Insurer in accordance with Section 8.8 8.09 and meeting the qualifications set forth in Section 8.68.07. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.07 hereof and shall fail to resign after written request thereto by the Depositor, Depositor or if at any time the NIMs Insurer or (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, Trustee and one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of all Classes of Certificates, with the consent of the NIMs Insurer, or the NIMs Insurer upon failure of the Trustee to perform its obligations hereunder, may at any time remove the Trustee and the Depositor shall appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorizedauthorized (or by the NIMs Insurer), one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to the NIMs Insurer and each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.09 hereof.

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-He4), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Opt1), Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Rm1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed by the Depositor and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-attorneys in fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee of appointment as provided in Section 8.8 8.08 hereof.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (MASTR Alternative Loan Trust 2007-Hf1), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-2), Pooling and Servicing Agreement (Mastr Asset Securitization Trust 2003-10)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts Trust hereby created by giving written notice of resignation thereof to the Depositor and the Master Servicer and each Seller, with a copy to the Rating Agency not less than 60 days before the date specified in Agencies. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Depositor shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting triplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning trustee and the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or resignationremoval, the resigning or removed Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicatemultiple copies, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set trustee to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor TrusteeTrustee or successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 10.09 hereof.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2005 - AP1), Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004 - AP3), Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004 - AP3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. As a condition to the effectiveness of any such resignation, at least 15 calendar days prior to the effective date of such resignation, the Trustee shall provide (x) written notice to the Depositor of any successor pursuant to this Section and (y) in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K with respect to the resignation of the Trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteetrustee or (iv) during the period that the Depositor is required to file Exchange Act Reports with respect to the Trust Fund, then the Trustee fails to comply with its obligations under the last sentence of Section 7.01, the preceding paragraph, Section 8.09 or Article XI and such failure is not remedied within the lesser of 10 calendar days or such period in which the applicable Exchange Act Report can be filed timely (without taking into account any extensions), then, in the case of clauses (i) through (iii), the Depositor or the Master Servicer Servicer, or in the case of clause (iv), the Depositor, may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and removed, one complete set to the successor so appointedappointed and one complete set to the Depositor, together with a written description of the basis of such removal. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-23cb), Pooling and Servicing Agreement (Alternative Loan Trust 2007-7t2), Pooling and Servicing Agreement (Alternative Loan Trust 2007-14t2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002-3), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002 1), Pooling and Servicing Agreement (Mort Asset Sec Trans Inc E Trade Bank Mort Bak Sec Tr 2001 2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, DLJMC, the Trust Administrator, the Master Servicer, the Special Servicer and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund's expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2004-4), Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-10), Pooling and Servicing Agreement (Adjustable Rate Mortgage Trust 2006-3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts Trust hereby created by giving written notice of resignation thereof to the Depositor Depositor, the Seller and the Master Servicer and each Servicer, with a copy to the Rating Agency not less than 60 days before the date specified in Agencies. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Depositor shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting triplicate, one copy of which instrument shall be delivered to each of the qualifications set forth in Section 8.6resigning Trustee and the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicatemultiple copies, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor TrusteeTrustee or successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.09 hereof.

Appears in 9 contracts

Samples: Custodial Agreement (Bear Stearns Asset Backed Certificates Series 2004-He2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He8), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Fr1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Depositor may also terminate the Trustee pursuant to Section 8.12(d). The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc MRT Ps THR Certs Ser 2003-3), Pooling and Servicing Agreement (Mastr Asset Securitization Trust 2003-1), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Cert Ser 2002-8)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and by mailing notice of resignation by first class mail, postage prepaid, to the Master Servicer Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 sixty (60) days before the date specified in such notice when, subject to Section 8.88.09, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.09 and meeting the qualifications set forth in Section 8.68.07. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 thirty (30) days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.07 hereof and shall fail to resign after written request thereto by the Depositor, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, Trustee and one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of all Classes of Certificates may at any time remove the Trustee and the Depositor shall appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.09 hereof.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2006-Ff18), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2007-Ff2), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Rm5)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and by mailing notice of resignation by first class mail, postage prepaid, to the Master Servicer Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 sixty (60) days before the date specified in such notice when, subject to Section 8.88.09, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee acceptable to the NIMs Insurer in accordance with Section 8.8 8.09 and meeting the qualifications set forth in Section 8.68.07. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 thirty (30) days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.07 hereof and shall fail to resign after written request thereto by the Depositor, Depositor or if at any time the NIMs Insurer or (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, Trustee and one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of all Classes of Certificates, with the consent of the NIMs Insurer, may at any time remove the Trustee and the Depositor shall appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorizedauthorized (or by the NIMs Insurer), one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to the NIMs Insurer and to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.09 hereof.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-2), Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-H1), Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-A)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and the Master Servicer Subservicer and by mailing notice of resignation by first Class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.08 and meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Subservicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master ServicerSubservicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp), Pooling and Servicing Agreement (Chase Funding Inc), Pooling and Servicing Agreement (Chase Funding Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC II Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-attorneys in- fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (PNC Mortgage Securities Corp Mort Pass Thro Cert Ser 2000-9), Pooling and Servicing Agreement (Mortgage Pass Through Certificates Series 2001-1), Pooling and Servicing Agreement (PNC Mortgage Securities Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor Depositor, the Insurer and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee Trustee, and shall, within 30 days after such removal, appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Insurer or the Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by the Insurer or such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Equity One Abs Inc), Pooling and Servicing Agreement (Equity One Abs Inc), Pooling and Servicing Agreement (Equity One Abs Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and Servicer. Such notice shall also be furnished to each Rating Agency not less than 60 days before the date specified in Agency. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Servicer shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteetrustee at the expense of the Depositor. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.7 and shall fail to resign after written request thereto for the Trustee's resignation by the DepositorServicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, with or a tax is imposed with respect to without cause, the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee so removed and one copy to the successor trustee. The Holders of Certificates entitled to at least having a Percentage Interest aggregating not less than 51% of the Voting Rights aggregate Denomination of all Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders holders or their attorneys-in-fact duly authorized, one complete set of which instrument or instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.8 shall become effective only upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof8.9.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Abn Amro Mort Sec Multi Class Mort PSTHR Certs Ser 2003-13), Pooling and Servicing Agreement (Multi-Class Mortgage Pass-Through Cert Series 2003-12), Pooling and Servicing Agreement (Abn Amro Mortgage Multi-Class Mor Pas THR Cer Ser 2003-11)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. As a condition to the effectiveness of any such resignation, at least 15 calendar days prior to the effective date of such resignation, the Trustee shall provide (x) written notice to the Depositor of any successor pursuant to this Section and (y) in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K with respect to the resignation of the Trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the NIM Insurer or the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then or (iv) during the period that the Depositor is required to file Exchange Act Reports with respect to the Trust Fund, the Trustee fails to comply with its obligations under the last sentence of Section 7.01, in the preceding paragraph, Section 8.09 or Article XI and such failure is not remedied within the lesser of 10 calendar days or such period in which the applicable Exchange Act Report can be filed timely (without taking into account any extensions), then, in the case of clauses (i) through (iii), the Depositor, the NIM Insurer or the Master Servicer Servicer, and in the case of clause (iv), the Depositor, may remove the Trustee and appoint a successor trustee trustee, reasonably acceptable to the NIM Insurer, by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Servicer, one copy of which shall be delivered to the NIM Insurer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, instruments signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed removed, one complete set to the NIM Insurer and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof8.08.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Hy8c), Pooling and Servicing Agreement (Alternative Loan Trust 2007-Hy3), Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oa3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC II Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-attorneys in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof8.08. Any expenses associated with the resignation of the Trustee shall be borne by the Trustee, and any expenses associated with the removal of the Trustee shall be borne by the Master Servicer.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (PNC Mortgage Securities Corp), Pooling and Servicing Agreement (Washington Mutual Mor Sec Corp Mor Pass Thru Cert Ser 2001-3), Pooling and Servicing Agreement (PNC Mortgage Securities Corp Mort Pass THR Cert Ser 1999-10)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts Trust hereby created by giving written notice of resignation thereof to the Depositor Depositor, the Seller and the Master Servicer and each Servicer, with a copy to the Rating Agency not less than 60 days before the date specified in Agencies. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Depositor shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting triplicate, one copy of which instrument shall be delivered to each of the qualifications set forth in Section 8.6resigning Trustee and the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicatemultiple copies, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation Trustee or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereoftrustee.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Saco I Trust, 2005-Wm1), Custodial Agreement (Saco I Trust 2005-9), Custodial Agreement (Saco I Trust, 2005-6)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts Trust hereby created by giving written notice of resignation thereof to the Depositor Depositor, the Seller and the Master Servicer and each Servicer, with a copy to the Rating Agency not less than 60 days before the date specified in Agencies. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Depositor shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting triplicate, one copy of which instrument shall be delivered to each of the qualifications set forth in Section 8.6resigning trustee and the successor trustee. If no successor trustee meeting such qualifications or shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 10.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the each Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51over 50% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicatemultiple copies, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to each of the Master Servicer, one complete set to Servicer or the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor TrusteeTrustee or successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 10.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 10.09 hereof.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC II Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-attorneys in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (PNC Mortgage Sec Corp Mort Pass THR Cert Ser 1999-7), Pooling and Servicing Agreement (PNC Mortgage Securities Corp), Pooling and Servicing Agreement (PNC Mortgage Securities Corp Mort Pass THR Cert Ser 1999-12)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency and MBIA by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (First Horizon Asset Securities Inc), Pooling and Servicing Agreement (First Horizon Asset Securities Inc), Pooling and Servicing Agreement (First Horizon Asset Securities Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed by the Depositor or the Master Servicer and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Mastr Pass Thru Ser 2003-5), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Incmastr Asset Sec Tr 2003 7), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pass THR Certs Ser 2003-6)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, the Sellers, the Trust Administrator, the Master Servicer, the Special Servicer and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund's expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Cert Series 2002-Ar8)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed by the Depositor and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective only upon acceptance of appointment by the successor trustee of appointment as provided in Section 8.8 8.08 hereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (MASTR Alternative Loan Trust 2006-2), Pooling and Servicing Agreement (MASTR Alternative Loan Trust 2006-2), Pooling and Servicing Agreement (MASTR Alternative Loan Trust 2006-2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Equity One Abs Inc), Pooling and Servicing Agreement (Mortgage Pass THR Certs Ser 1998-1), Pooling and Servicing Agreement (Master Asset Securitization Trust 2001 1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC III Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-attorneys in- fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (PNC Mortgage Securities Corp), Pooling and Servicing Agreement (PNC Mortgage Securities Corp 1999-3), Pooling and Servicing Agreement (PNC Mortgage Sec Corp Mort Pass THR Cert Ser 2000-8)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts Trust hereby created by giving written notice of resignation thereof to the Depositor and the Master Servicer and each Seller, with a copy to the Rating Agency not less than 60 days before the date specified in Agencies. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Depositor shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting triplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning trustee and the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or resignationremoval, the resigning or removed Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 10.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicatemultiple copies, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set trustee to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor TrusteeTrustee or successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 10.09 hereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acc Corp Alter Ln Tr Ser 2003-A3), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Mortgage Pass-Through Certificates Series 2004-Ap1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, the Seller, the Trust Administrator, the Modification Oversight Agent, the Master Servicer, the Certificate Insurer, the Special Servicer, any Group 1 Special Servicer and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-3), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-3), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer Underlying Certificate Seller and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.85.09, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 5.09 meeting the qualifications set forth in Section 8.65.07. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 5.07 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Depositor and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master ServicerDepositor, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency and the Underlying Certificate Seller by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 5.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 5.09 hereof.

Appears in 4 contracts

Samples: Trust Agreement (Cwalt Inc), Trust Agreement (Cwalt Inc), Trust Agreement (CWMBS Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts Trust hereby created by giving written notice of resignation thereof to the Depositor Depositor, the Seller and the Master Servicer and each Servicer, with a copy to the Rating Agency not less than 60 days before the date specified in Agencies. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Depositor shall promptly appoint a successor trustee, by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning trustee in accordance with Section 8.8 meeting and the qualifications set forth in Section 8.6successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicatemultiple copies, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor TrusteeTrustee or successor trustee. In the event that the fee payable to a successor Trustee exceeds the Trustee Fee, any such excess shall be an obligation of the Trust. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.09 hereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2005-2), Pooling and Servicing Agreement (Bsabs 2005-1), Pooling and Servicing Agreement (Bsabs 2005-1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and Servicer, each Rating Agency and the NIMS Insurer, if any, not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to each of the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The NIMS Insurer, if any, and the Holders of Certificates entitled to at least 51% of the Voting Rights each may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by the NIMS Insurer, if any, or such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency and the NIMS Insurer, if any, by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee of appointment as provided in Section 8.8 hereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Aegis Asset Backed Sec Corp Mort Pas THR Certs Series 2003 3), Pooling and Servicing Agreement (Aegis Asset Backed Sec Tr Mort Pass THR Cert Ser 2004 1), Pooling and Servicing Agreement (Aegis Asset Backed Sec Corp Mort Pas THR Certs Series 2003 3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee so removed and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC II Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-attorneys in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Washington Mutual Mortgage Sec Corp Mor Pas Thru Cert 2001-7), Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2001-Ar3), Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2001-Ar2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.so

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Mellon Residential Funding Cor Mor Pas THR Cer Ser 2000-Tbc1), Pooling and Servicing Agreement (Mellon Residential Funding Corp), Pooling and Servicing Agreement (Mellon Residential Funding Cor Mor Pas THR Tr Ser 1999-Tbc3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp), Pooling and Servicing Agreement (Mellon Residential Funding Corp Home Eq Instal Loan Tru 99-1), Pooling and Servicing Agreement (Mellon Residential Funding Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer Underlying Certificate Seller and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.85.09, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 5.09 meeting the qualifications set forth in Section 8.65.07. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. As a condition to the effectiveness of any such resignation, at least 15 calendar days prior to the effective date of such resignation, the Trustee shall provide (x) written notice to the Depositor of any successor pursuant to this Section and (y) in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K with respect to the resignation of the Trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 5.07 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteetrustee or (iv) during the period that the Depositor is required to file Exchange Act Reports with respect to the Trust Fund, then the Trustee fails to comply with its obligations under this Agreement, including the preceding paragraph, Section 5.09 or Article IX and such failure is not remedied within the lesser of 10 calendar days or such period in which the applicable Exchange Act Report can be filed timely (without taking into account any extensions), then, in the case of clauses (i) through (iii), the Depositor or the Master Servicer Servicer, or in the case of clause (iv), the Depositor, may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master ServicerDepositor, one complete set to the Trustee so removed and one complete set to the successor so appointed, together with a written description of the basis of such removal. Notice of any removal of the Trustee shall be given to each Rating Agency and the Underlying Certificate Seller by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 5.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 5.09 hereof.

Appears in 3 contracts

Samples: Trust Agreement (Alternative Loan Trust 2007-Hy5r), Trust Agreement (Alternative Loan Trust Resecuritization 2007-26r), Trust Agreement (Alternative Loan Trust Resecuritization 2006-22r)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer Underlying Certificate Seller and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.85.09, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 5.09 meeting the qualifications set forth in Section 8.65.07. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 5.07 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Depositor and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master ServicerDepositor, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency and the Underlying Certificate Seller by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 5.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 5.09 hereof.

Appears in 2 contracts

Samples: Trust Agreement (IndyMac RAST 2004-R2), Trust Agreement (Indymac MBS Inc Residential Asset Sec Trust 2004 R1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor Depositor, the Servicer and the Master Servicer NIMs Insurer and by mailing notice of resignation by first Class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.08 and meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the DepositorDepositor or the NIMs Insurer, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of all Classes of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Chase Funding Inc), Pooling and Servicing Agreement (Chase Funding Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee so removed and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC III Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-attorneys in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Washington Mutual MSC Mort Pass-Through Cert Ser 2001-Ms12), Pooling and Servicing Agreement (Washington Mutual Mor Sec Corp Mor Pass Thru Cert Ser 2001-4)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and the Master Servicer and by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (2) acceptance by a successor trustee in accordance with Section 8.8 8.08 and meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc), Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts trust hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and Servicer, each Rating Agency and the NIMS Insurer, if any, not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to each of the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The NIMS Insurer, if any, and the Holders of Certificates entitled to at least 51% of the Voting Rights each may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by the NIMS Insurer, if any, or such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency and the NIMS Insurer, if any, by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee of appointment as provided in Section 8.8 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (AEGIS ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-3), Pooling and Servicing Agreement (AEGIS ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-4)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, the Sellers and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund's expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 of this Agreement and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof8.08 of this Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2005-43), Pooling and Servicing Agreement (Cwalt Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and by mailing notice of resignation by first class mail, postage prepaid, to the Master Servicer Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.09, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.09 and meeting the qualifications set forth in Section 8.68.07. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.07 hereof and shall fail to resign after written request thereto by the Depositor, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, Trustee and one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of all Classes of Certificates may at any time remove the Trustee and the Depositor shall appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set trustee to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.09 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Sl1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts Trust hereby created by giving written notice of resignation thereof to the Depositor Depositor, the Seller and the Master Servicer and each Servicer, with a copy to the Rating Agency not less than 60 days before the date specified in Agencies. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Depositor shall promptly appoint a successor trustee, by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning trustee in accordance with Section 8.8 meeting and the qualifications set forth in Section 8.6successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicatemultiple copies, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor TrusteeTrustee or successor trustee. In the event that the fee payable to a successor Trustee exceeds the Trustee Fee, any such excess shall be an obligation of the Trust. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.09 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2004-2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Series 2004 1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, the Sellers and the Master Servicer and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeServicer. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund's expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mor Pass THR Cert Ser 2000-9), Pooling and Servicing Agreement (Credit Suisse First Boston Mort Sec Corp M B P T C Se 00 Wm2)

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Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed by the Depositor and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Mortgage Asset Seczt Trans Inc Mort Pass Thru Certs 2003-8), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pas THR Certs Ser 2003 4)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof8.08.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and the Master Servicer and by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.08 and meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or 126 resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, Servicer one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CWABS Asset Backed Certificates Trust 2004-Bc3), Pooling and Servicing Agreement (CWABS Asset Backed Certificates Trust 2004-Bc3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor Depositor, the Swap Counterparty, the Cap Counterparty and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Saxon Asset Securities Trust 2007-1), Pooling and Servicing Agreement (Sast 2007-2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and the Master Servicer Securities Administrator by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.09, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.09 and meeting the qualifications set forth in Section 8.68.07. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.07 hereof and shall fail to resign after written request thereto by the Depositor, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Securities Administrator and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of all Classes of Certificates may at any time remove the Trustee and the Depositor shall appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set trustee to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.09 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-Sl1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-Sl2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor Depositor, the Certificate Insurer and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee approved in writing by the Certificate Insurer by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Certificate Insurer or the Holders of Certificates entitled to at least 51% of the Voting Rights Rights, with the prior written consent of the Certificate Insurer, may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove 106 the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cwalt Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. 103 Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Horizon Asset Securities Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and the Master Servicer Securities Administrator by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.09, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.09 and meeting the qualifications set forth in Section 8.68.07. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.07 hereof and shall fail to resign after written request thereto by the Depositor, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Securities Administrator and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of all Classes of Certificates may at any time remove the Trustee and the Depositor shall appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master ServicerSecurities Administrator, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Asst Back Certs Ser 2003-5sl)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in Certificate Insurer. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Master Servicer shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate,one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer successor and one copy to the successor trusteeCertificate Insurer. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC II Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-attorneys in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Thru Certificate Series 2001-Ar6)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or 148 insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee so removed and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC III Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-attorneys in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mor Sec Corp Mor Pass Thru Cert Ser 2001-8)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, the Seller, the Trust Administrator, the Master Servicer, the Certificate Insurer and the Master Servicer and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.69.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. 104 If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (TBW Mortgage-Backed Trust Series 2007-2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, the Sellers, the Trust Administrator, the Master Servicer, the Special Servicer and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, 122 and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund's expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certificates Ser 2002 10)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor Depositor, the Insurer and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee Trustee, and shall, within 30 days after such removal, and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Insurer or the Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by the Insurer or such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Equity One Abs Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and the Master Servicer and by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.08 and meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the NIM Insurer or the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the 122 purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor Depositor, the NIM Insurer or the Master Servicer may remove the Trustee and appoint a successor trustee trustee, reasonably acceptable to the NIM Insurer, by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, Servicer one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certificates Series 2004-4)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights Certificate Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-attorneys in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof8.08.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (PNC Mortgage Securities Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, DLJMC, the Trust Administrator, the Master Servicer, the Special Servicer and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to -159- the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-7)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee so removed and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC I Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-attorneys in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Mort Sec Corp Pas THR Cert Ser 01 Ar1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC III Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-attorneys in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (PNC Mortgage Securities Corp Mort Pass Thru Cert Ser 2000 4)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and Servicer. Such notice shall also be furnished to each Rating Agency not less than 60 days before the date specified in Agency. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Servicer shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteetrustee at the expense of the Servicer. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.7 and shall fail to resign after written request thereto for the Trustee's resignation by the DepositorServicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, with or a tax is imposed with respect to without cause, the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee so removed and one copy to the successor trustee. The Holders of Certificates entitled to at least having a Percentage Interest aggregating not less than 51% of the Voting Rights aggregate Denomination of all Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders holders or their attorneys-in-fact duly authorized, one complete set of which instrument or instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.8 shall become effective only upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.8.9. 107

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp Series 2001-1a)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in Certificate Insurer. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Master Servicer shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer successor and one copy to the successor trusteeCertificate Insurer. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC II Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-attorneys in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Cert Series 2001-S8)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts trust hereby created by giving written notice of resignation to the Guarantor, the Depositor, the Master Servicer, Certificateholders, the Class 1-AV-1 Insurer and each Rating Agency. Upon receiving such notice of resignation, the Guarantor shall promptly appoint a successor trustee (reasonably acceptable to the Depositor and the Master Servicer) by written instrument, in duplicate, which instrument shall be delivered to the resigning Trustee and to the successor Trustee and to the Holders of Certificates entitled to at least 51% of the Voting Rights. A copy of such instrument shall be delivered to the Depositor, the Certificateholders, the Trustee and the Master Servicer and each Rating Agency not less than 60 days before by the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6Guarantor. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. 178 If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the NIM Insurer, the Guarantor or the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or Depositor, the Guarantor, the Master Servicer or, subject to the consent of the Guarantor (which consent may not be unreasonably withheld), the NIM Insurer, may remove the Trustee and appoint a successor trustee trustee, reasonably acceptable to the NIM Insurer, by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trusteeTrustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates, with the consent of the Guarantor, may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, Servicer one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certificates Series 2004-15)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and the Master Servicer Subservicer and by mailing notice of resignation by first Class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.08 and meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Subservicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master ServicerSubservicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. 116 Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Funding Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, DLJMC, the Trust Administrator, the Master Servicer, the Special Servicer and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to 156 the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-9)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, DLJMC, the Trust Administrator, the Master Servicer, the Special Servicer and the Master Servicer Servicers and each by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register, and to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, 128 and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund's expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certificates Ser 2002-Ar13)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor and the Master Servicer and by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee Trustee in accordance with Section 8.8 8.08 and meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trusteeTrustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee Trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trusteeTrustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee Trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, Servicer one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee Trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee Trustee as provided in Section 8.8 8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWABS Asset Backed Certificates Trust 2004-S1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by by: (i) giving written notice of resignation to the Depositor and by mailing notice of resignation by first class mail, postage prepaid, to the Master Servicer Certificateholders at their addresses appearing on the Certificate Register, the Certificate Registrar (if other than the Trustee) and each any co-registrar, and the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (ii) acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency by the Successor TrusteeAgencies. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation thereof to the Depositor and Master Servicer. Upon receiving such notice of resignation, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting duplicate, one copy of which instrument shall be delivered to the qualifications set forth in Section 8.6resigning Trustee and one copy to the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof 8.06 and shall fail to resign after written request thereto therefor by the DepositorMaster Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trusteesuccessor. The Holders of Certificates entitled to at least 51evidencing Percentage Interests aggregating more than 50% of the Voting Rights REMIC I Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-attorneys in- fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Pass Through Certificate Series 2000-7)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (a) giving written notice of resignation to the Depositor Depositor, the Sellers, the Servicers and MBIA and by mailing notice of resignation by first class mail, postage prepaid, to the Master Servicer Certificateholders at their addresses appearing on the Certificate Register, and each to the Rating Agency Agencies, not less than 60 days before the date specified in such notice when, subject to Section 8.89.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 8.8 9.08 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, liquidation or a tax is imposed with respect to the Trust Fund by any state in which if the Trustee breaches any of its obligations or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trusteerepresentations hereunder, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicateduplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer Trustee and one copy to the successor trustee. The Trustee may also be removed at any time by the Holders of Certificates entitled to at least 51evidencing not less than 50% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered evidenced by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointedCertificates. Notice of any removal of the Trustee and acceptance of appointment by the successor trustee shall be given to each the Rating Agency Agencies and MBIA by the Successor TrusteeDepositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation or receipt of a notice of removal, the resigning Trustee may, at the Trust Fund's expense, petition any court of competent jurisdiction for the appointment of a successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by (1) giving written notice of resignation to the Depositor Depositor, the Certificate Insurer and the Master Servicer and by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at their addresses appearing on the Certificate Register and each Rating Agency Agency, not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and (2) acceptance of appointment by a successor trustee in accordance with Section 8.8 8.08 and meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Certificate Insurer (or if the Certificate Insurer fails to do so promptly, the Depositor or the Master Servicer Servicer) may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy of which shall be delivered to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights may of each Class of Certificates may, with the prior written consent of the Certificate Insurer, at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, Servicer one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof. Notwithstanding anything to the contrary contained herein, so long as no Certificate Insurer Default exists, the Trustee may not be removed without the prior written consent of the Certificate Insurer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Back Cert Ser 2000-1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts Trust hereby created by giving written notice of resignation thereof to the Depositor Depositor, the Seller and the Master Servicer and each Servicer, with a copy to the Rating Agency not less than 60 days before the date specified in Agencies. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Depositor shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting triplicate, one copy of which instrument shall be delivered to each of the qualifications set forth in Section 8.6resigning trustee and the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicatemultiple copies, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to each of the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor TrusteeTrustee or successor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts Trust hereby created by giving written notice of resignation thereof to the Depositor Depositor, the Seller and the Master Servicer and each Servicer, with a copy to the Rating Agency not less than 60 days before the date specified in Agencies. Upon receiving such notice whenof resignation, subject to Section 8.8, such resignation is to take effect, and acceptance by the Depositor shall promptly appoint a successor trustee by written instrument, in accordance with Section 8.8 meeting triplicate, one copy of which instrument shall be delivered to each of the qualifications set forth in Section 8.6resigning Trustee and the successor trustee. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and located, (B) the imposition of such tax would be avoided by the appointment of a different trusteetrustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to evidencing at least 51% of the Voting Rights of each Class of Certificates may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicatemultiple copies, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor trustee so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor TrusteeTrustee or successor trustee. 119 Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.08 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He11)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Class 1-A-3 Insurer, the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed by the Depositor and have accepted appointment within 30 days after the giving of such notice or of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the TrusteeTrustee so removed, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee of appointment as provided in Section 8.8 8.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (MASTR Asset Securitization Trust 2005-2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee 91 meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Horizon Asset Securities Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and Depositor, the Master Servicer and each Rating Agency not less than 60 sixty (60) days before the date specified in such notice when, subject to Section 8.89.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 9.8 meeting the qualifications set forth in Section 8.69.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 thirty (30) days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 9.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 9.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 9.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Etrade Mortgage Backed Securities Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. 95 If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Horizon Asset Securities Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.8, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 meeting the qualifications set forth in Section 8.6. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become 91 incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 hereof.

Appears in 1 contract

Samples: Custodial Agreement (First Horizon Asset Securities Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice of resignation to the Depositor and the Master Servicer and each Rating Agency not less than 60 days before the date specified in such notice when, subject to Section 8.88.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.8 8.08 meeting the qualifications set forth in Section 8.68.06. If no successor trustee meeting such qualifications shall have been so appointed and have accepted appointment within 30 days after the giving of such notice or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.6 8.06 hereof and shall fail to resign after written request thereto by the Depositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or a tax is imposed with respect to the Trust Fund by any state in which the Trustee or the Trust Fund is located and the imposition of such tax would be avoided by the appointment of a different trustee, then the Depositor or the Master Servicer may remove the Trustee Trustee, and shall, within 30 days after such removal, appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successor trustee. The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered by the successor Trustee trustee to the Master Servicer, one complete set to the Trustee so removed and one complete set to the successor so appointed. Notice of any removal of the Trustee shall be given to each Rating Agency by the Successor Trusteesuccessor trustee. Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 8.7 8.07 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.8 8.08 hereof.. 110

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Popular ABS Mortgage Pass-Through Trust 2006-E)

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