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 trust hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 156 contracts

Samples: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, LLC), Pooling and Servicing Agreement (Wachovia Asset Funding Trust, LLC), Pooling and Servicing Agreement (Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Series 2005-4)

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Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor, the Master Servicer and each Rating Agency. Upon receiving Agency not less than 60 days before the date specified in such notice of resignationwhen, subject to Section 8.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 8.08 meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.06. If no successor Trustee trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of or 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 9.05 8.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged a 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 duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50entitled 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 Servicer Master Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; successor so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.08 hereof.

Appears in 130 contracts

Samples: Pooling and Servicing Agreement (Countrywide Home Loans 2005-J8), Pooling and Servicing Agreement (Alternative Loan Trust 2005-J11), Pooling and Servicing Agreement (Alternative Loan Trust 2005-J10)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof of resignation to the Servicer and mailing a copy of such Servicer. Such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation be furnished to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.7 and shall fail to resign after written request therefor for the Trustee's resignation by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then then, with or without cause, the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing having a Percentage Interest aggregating not less than 5051% 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 or their attorneys-in-fact duly authorized, one complete set of which instrument or instruments shall be delivered to the Servicer Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06trustee so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.9.

Appears in 33 contracts

Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp Muilti Cl Mort Ps THR CRTS Ser 2003-8), Pooling and Servicing Agreement (Abn Amro Mortgage Corp Series 2002-7), Pooling and Servicing Agreement (Abn Amro Mortgage Corp Series 1999-3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 21 contracts

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-1), Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2007-1), Pooling and Servicing Agreement (Banc of America Mortgage 2006-3 Trust)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Swap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the resignation or removal, as applicable, of LaSalle Bank National Association as Derivative Administrator. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof and upon acceptance of appointment by a successor derivative administrator under the Derivative Administration Agreement.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Pc1), Pooling and Servicing Agreement (Asset-Backed Certificates, Series 2005-He11), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ec1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer Servicers and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer Servicers shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the ServicerServicers, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer Servicers may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer Servicers and the Trustee; the Servicer Servicers shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Bank of America Mortgage Securities Inc), Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pas Thru Cert Ser 1999-11), Pooling and Servicing Agreement (Bank of America Mortgage Securities Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Rating Agencies and each Rating AgencySwap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof and upon acceptance of appointment by a successor Swap administrator under the Swap Administration Agreement.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Aq1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Aq1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Swap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof and upon acceptance of appointment by a successor Swap Administrator under the Swap Administration Agreement.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Sl5), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Sl2), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Sl1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Series 2005-11), Pooling and Servicing Agreement (Banc of America Funding 2007-E Trust), Pooling and Servicing Agreement (Banc of America Mortgage Securities, Inc. Mortgage Pass-Through Certificates Series 2005-11)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Servicer. Such notice shall also be furnished to the Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.7 and shall fail to resign after written request therefor for the Trustee's resignation by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then then, with or without cause, the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing having a Percentage Interest aggregating not less than 5051% 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 or their attorneys-in-fact duly authorized, one complete set of which instrument or instruments shall be delivered to the Servicer Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06trustee so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.9.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp), Pooling and Servicing Agreement (Abn Amro Mortgage Corp), Pooling and Servicing Agreement (Abn Amro Mortgage Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the Servicer, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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 the Servicer Depositor may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Servicer and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at least 51% of the Voting Rights of all Classes of Certificates, 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 authorized, one complete set of which instruments shall be delivered by the successor trustee to the Servicer Trustee so removed and one complete set to the Trustee; successor so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-He3), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-He2), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-Ar1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Swap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less greater than 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 multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof and upon acceptance of appointment by a successor Swap Administrator under the Swap Administration Agreement.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2007-Sl2), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Sl6), Custodial Agreement (Bear Stearns Mortgage Funding Trust 2007-Sl2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Seller, the Trust Administrator, the Modification Oversight Agent, the Master Servicer, the Special Servicer, the Back-up Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-7), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-7), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-5)

Resignation and Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign and be discharged from the trust hereby created with respect to one or more or all series of Securities by giving written notice thereof of such resignation to the Servicer Company and mailing a copy by giving to the holders of such Securities of the applicable series notice thereof in the manner and to all Holders the extent provided in subsection (c) of record. The Trustee shall also mail a copy Section 5.04 with respect to reports pursuant to subsection (a) of such notice of resignation to each Rating AgencySection 5.04. Upon receiving such notice of resignationresignation and if the Company shall deem it appropriate evidence satisfactory to it of such mailing, the Servicer Company shall use their best efforts to promptly appoint a mutually acceptable successor Trustee with respect to the applicable series (it being understood that any successor Trustee may be appointed with respect to the Securities of one or more or all of such series and at any time there shall be only one Trustee with respect to the Securities of any particular series) by written instrument, in duplicate, executed pursuant to a Resolution of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed with respect to any series and shall have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If , or any Securityholder who has been a bona fide holder of a Security or Securities of the applicable series for at any time the Trustee shall cease least six months may, subject to be eligible in accordance with the provisions of Section 9.05 6.08, on behalf of himself and shall fail to resign after written request therefor by the Servicerall others similarly situated, or if at petition any time the Trustee shall become incapable of acting, or shall be adjudged 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 such court for the purpose of rehabilitation, conservation or liquidation, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the Trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor Trustee as provided in Section 9.07Trustee.

Appears in 4 contracts

Samples: Indenture (Aon PLC), Indenture, Indenture (Aon Corp)

Resignation and Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign and be discharged from the trust hereby created with respect to one or more or all series of Securities by giving written notice thereof of such resignation to the Servicer Company and mailing a copy by giving to the holders of such Securities of the applicable series notice thereof in the manner and to all Holders the extent provided in subsection (c) of record. The Trustee shall also mail a copy Section 5.4 with respect to reports pursuant to subsection (a) of such notice of resignation to each Rating AgencySection 5.4. Upon receiving such notice of resignationresignation and if the Company shall deem it appropriate evidence satisfactory to it of such mailing, the Servicer Company shall use their best efforts to promptly appoint a mutually acceptable successor Trustee with respect to the applicable series (it being understood that any successor Trustee may be appointed with respect to the Securities of one or more or all of such series and at any time there shall be only one Trustee with respect to the Securities of any particular series) by written instrument, in duplicate, executed pursuant to a Resolution of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed with respect to any series and shall have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If , or any Securityholder who has been a bona fide holder of a Security or Securities of the applicable series for at any time the Trustee shall cease least six months may, subject to be eligible in accordance with the provisions of Section 9.05 6.8, on behalf of himself and shall fail to resign after written request therefor by the Servicerall others similarly situated, or if at petition any time the Trustee shall become incapable of acting, or shall be adjudged 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 such court for the purpose of rehabilitation, conservation or liquidation, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the Trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor Trustee as provided in Section 9.07Trustee.

Appears in 4 contracts

Samples: Trust Agreement (Laclede Gas Co), Dominion CNG Capital Trust Ii, Consolidated Natural Gas Co/Va

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, DLJMC, the Trust Administrator, the Master Servicer, the Special Servicer, the Modification Oversight Agent and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund's expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Adjustable Rate Mortgage Trust 2007-1), Adjustable Rate Mortgage Trust 2007-1, Adjustable Rate Mortgage Loan Trust 2007-2

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor and the 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.08, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.08 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.06. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Servicer and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 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; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.08 hereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Chase Funding Inc), 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 trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Certificate Insurer. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at least 51% of the Voting Rights of each Class of Certificates (with the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld) may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency and the Certificate Insurer by the Trustee or successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof.

Appears in 3 contracts

Samples: Custodial Agreement (Asset-Backed Certificates Series 2004-He1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Fr3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Fr2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Swap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less more than 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 multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof and upon acceptance of appointment by a successor swap administrator under the Swap Administration Agreement.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Seller, the Trust Administrator, the Modification Oversight Agent, the Master Servicer, the Special Servicer, any Special Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (CSMC Trust 2007-4), Pooling and Servicing Agreement (CSMC Trust 2007-4), Pooling and Servicing Agreement (CSMC Trust 2007-4)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Rating Agencies and each Rating AgencySwap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than over 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 multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof and upon acceptance of appointment by a successor Swap administrator under the Swap Administration Agreement.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He10)

Resignation and Removal of Trustee. The Trustee may resign as to all or any of the classes of Notes at any time resign and be discharged from the trust hereby created without cause by giving at least 30 days’ prior written notice thereof to the Issuer, the Servicer and mailing a copy of such notice to all Holders of recordthe Noteholders. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment Noteholders of a successor Trustee. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver majority of the Trustee or Outstanding Principal Balance of its property shall be appointed, or any public officer shall take charge or control class of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights Notes may at any time remove the Trustee as to such class without cause, with the consent of the Issuer (such consent not to be unreasonably withheld) if no Event of Default shall have occurred and be continuing, by written an instrument or instruments in writing delivered to the Issuer, the Servicer and the Trustee; Trustee being removed. In addition, the Servicer shall thereupon use their best efforts Issuer may remove the Trustee as to appoint any class of Notes if (a) such Trustee fails to comply with Section 310 of the Trust Indenture Act (as if the Trust Indenture Act applied to this Indenture) after written request therefor by the Issuer or the Noteholders of the related class who have been bona fide Noteholders for at least six months, (b) such Trustee fails to comply with Section 7.2(d) or any other provision hereof, (c) such Trustee is adjudged a mutually acceptable bankrupt or an insolvent, (d) a receiver or public officer takes charge of such Trustee or its property or (e) such Trustee becomes incapable of acting. References to the Trustee in this Indenture include any successor Trustee as to all or any of the classes of Notes appointed in accordance with this Section 9.06Article VII. Any resignation or removal of the Trustee and appointment of pursuant to this Section 7.1 shall not be effective until a successor Trustee shall have been duly appointed and vested as Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.077.2.

Appears in 3 contracts

Samples: Indenture (Supernus Pharmaceuticals Inc), Indenture (Encysive Pharmaceuticals Inc), Indenture (Insite Vision Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Seller, the Trust Administrator, the Master Servicer and the 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 to the Rating Agency. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (TBW Mortgage-Backed Trust Series 2006-4), Pooling and Servicing Agreement (TBW 2006-1), Pooling and Servicing Agreement (TBW 2006-2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor and the 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 to the Rating Agency. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint Section 9.08, such resignation is to take effect, and (b) acceptance by a mutually successor trustee acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to Insurer in accordance with Section 9.08 meeting the successor Trusteequalifications set forth in Section 9.06. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Insurer or, with the prior written consent of the Insurer, the Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates with the prior written consent of the Insurer. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer and Rating Agencies by the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06Servicer. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Asset Backed Securities Corp), 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 trust hereby created by giving written notice thereof to the Servicer and the Depositor and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 if at any time the Trustee has failed to duly perform, within the required time period, its obligations under Section 3.20, Section 3.21 or Section 3.22, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Banc of America Funding Corp), Pooling and Servicing Agreement (Banc of America Funding 2006-E Trust), Pooling and Servicing Agreement (Banc of America Funding Corp)

Resignation and Removal of Trustee. (a) The Trustee Trustee, or any ---------------------------------- trustee or trustees hereafter appointed, may at any time resign and be discharged from the trust hereby created with respect to one or more or all series of Securities by giving written notice thereof of such resignation to the Servicer Company and mailing a copy by giving to the holders of such Securities of the applicable series notice thereof in the manner and to all Holders the extent provided in subsection (c) of record. The Trustee shall also mail a copy SECTION 5.04 with respect to reports pursuant to subsection (a) of such notice of resignation to each Rating AgencySECTION 5.04. Upon receiving such notice of resignationresignation and if the Company shall deem it appropriate evidence satisfactory to it of such mailing, the Servicer Company shall use their best efforts to promptly appoint a mutually acceptable successor Trustee with respect to the applicable series (it being understood that any successor Trustee may be appointed with respect to the Securities of one or more or all of such series and at any time there shall be only one Trustee with respect to the Securities of any particular series) by written instrument, in duplicate, executed pursuant to a Resolution of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed with respect to any series and shall have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If , or any Securityholder who has been a bona fide holder of a Security or Securities of the applicable series for at any time the Trustee shall cease least six months may, subject to be eligible in accordance with the provisions of Section 9.05 SECTION 6.08, on behalf of himself and shall fail to resign after written request therefor by the Servicerall others similarly situated, or if at petition any time the Trustee shall become incapable of acting, or shall be adjudged 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 such court for the purpose of rehabilitation, conservation or liquidation, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the Trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor Trustee as provided in Section 9.07Trustee.

Appears in 2 contracts

Samples: Indenture (DPL Inc), Indenture (DPL Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Master Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Master Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer and the Trustee; the Master Servicer shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. Mortgage Pass-Through Certificates Series 2004-3), Pooling and Servicing Agreement (Banc of America Funding MTG Pass Thru Certs Ser 2003-3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Swap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less more than 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 multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof and upon acceptance of appointment by a successor Swap Administrator under the Swap Administration Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Aq1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Fs1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the Servicer, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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 the Servicer Depositor may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Servicer and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 Servicer Trustee so removed and one complete set to the Trustee; successor so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2004-Sl1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Sellers, the Trust Administrator, the Modification Oversight Agent, the Master Servicer, the Special Servicer, any Group 1 Special Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CSMC Mortgage Backed Trust Series 2007-1), Pooling and Servicing Agreement (CSMC Mortgage Backed Trust Series 2007-1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof of resignation to the Servicer and mailing a copy of such Depositor. Such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation be furnished to each Rating Agency. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. The successor trustee shall be acceptable to the Class R Certificateholder and shall be rated at least A3 by Moodys. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 6.7 and shall fail to resign after written request therefor for the Trustee's resignation by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then then, with or without cause, the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing having a Percentage Interest aggregating not less than 5051% of the Voting Rights 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-fact duly authorized, one complete set of which instrument or instruments shall be delivered to the Servicer Depositor, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06trustee so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 6.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.076.9.

Appears in 2 contracts

Samples: Pooling Agreement (Merrill Lynch Mortgage Investors Inc), Pooling Agreement (Merrill Lynch Mortgage Investors Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Swap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 10.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less more than 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 multiple 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 or the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 10.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.0710.09 hereof and upon acceptance of appointment by a successor swap administrator under the Swap Administration Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He6)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Certificate Insurer. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee (with the prior consent of the Certificate Insurer, which consent shall not be unreasonably withheld) by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at least 51% of the Voting Rights of each Class of Certificates (with the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld) may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency and the Certificate Insurer by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof and upon acceptance of appointment by a successor swap administrator under the Swap Administration Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He9), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He9)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Sellers, the Trust Administrator, the Modification Oversight Agent, the Master Servicer, the Special Servicer, any Special Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-2), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-2)

Resignation and Removal of Trustee. The Trustee may resign as to all or any of the subclasses of the Securities at any time resign and be discharged from the trust hereby created without cause by giving at least 90 days' prior written notice thereof to the Issuer, the Guarantor, the Policy Provider, the Initial Credit Facility Provider, the Administrative Agent, the Cash Manager, the Remarketing Servicers, the Back-Up Remarketing Servicer and mailing a copy of the Holders, such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice be effective only upon acceptance of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor replacement trustee by a Senior Trustee. If at Holders of a majority of the Outstanding Principal Balance of any time subclass of the Trustee shall cease Securities (or, with respect to the Subclass A-1 Securities or any other subclass of Covered Class A Securities, the Policy Provider or, so long as it is entitled to be eligible in accordance with a Controlling Party, the provisions of Section 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights Initial Credit Facility Provider) may at any time remove the Trustee as to such subclass without cause by written an instrument or instruments in writing delivered to the Servicer Issuer, the Guarantor, the Guarantor Trustee, the Administrative Agent, the Cash Manager, the Remarketing Servicers, the Back-Up Remarketing Servicer, the Security Trustee, the Senior Trustee and the Trustee being removed, such removal to be effective only upon the acceptance of the appointment by a successor Trustee; . In addition, the Servicer shall thereupon use their best efforts Issuer may remove the Trustee as to appoint any of the subclasses of the Securities if: (i) this Indenture has been qualified under Trust Indenture Act and such Trustee fails to comply with Section 310 of the TIA after written request therefor by the Issuer or the Holder of the related subclass who has been a mutually acceptable bona fide Holder for at least six months, (ii) such Trustee fails to comply with Section 7.02(c) hereof, (iii) such Trustee is adjudged a bankrupt or an insolvent, (iv) a receiver or public officer takes charge of such Trustee or its property or (v) such Trustee becomes incapable of acting, such removal to be effective only upon the acceptance of the appointment by a successor Trustee. References to the Trustee in this Indenture include any successor Trustee as to all or any of the subclasses of the Securities appointed in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07Article VII.

Appears in 2 contracts

Samples: Trust Indenture (Aircastle LTD), Trust Indenture (Aircastle LTD)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Sellers, the Trust Administrator and the Master Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund's expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 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 trust trusts hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating AgencyMaster Servicer. Upon receiving such notice of resignation, the Master Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.06 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and removed, one copy to the successor. The Holders of Certificates evidencing not less 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-fact duly authorized, one complete set of which instruments shall be delivered to the Servicer Master Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.08. 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 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 trust trusts hereby created by giving written notice thereof of resignation to the Servicer and mailing a copy of such Servicer. Such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation be furnished to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.7 and shall fail to resign after written request therefor for the Trustee's resignation by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then then, with or without cause, the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing having a Percentage Interest aggregating not less than 5051% 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 or their attorneys-in-fact 101 duly authorized, one complete set of which instrument or instruments shall be delivered to the Servicer Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06trustee so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.9.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Abn Amro Mort Corp Multi Class Mort Pass THR Cert Ser 2003-3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Class I-A-5 Insurer, the Sellers, the Trust Administrator, the Master Servicer, the Special Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-7)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Seller, the Trust Administrator, the Modification Oversight Agent, the Master Servicer, the Certificate Insurer, any Special Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSAB Mortgage-Backed Trust 2006-4)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, DLJMC, the Trust Administrator, the Master Servicer, the Special Servicer, the Modification Oversight Agent and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-6)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Depositor, the Seller, the Servicer, the Backup Servicer, the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies. Upon receiving such notice of resignationresignation of the Trustee, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable 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 successor Trustee. If no successor Trustee shall have been so appointed and shall have having accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, 8.06 hereof or if at any time the Trustee shall become incapable of actingbe legally unable to act, or shall be adjudged 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, then the Servicer Depositor 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 duplicate, one copy of which instrument shall be delivered to the successor Trustee so removed and one copy to the successorServicer. The Holders of Certificates evidencing not less than 50entitled 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 to the Servicer Depositor, one complete set to the Trustee so removed and one complete set to the successor so appointed. A copy of such instrument shall be delivered to the Certificateholders, the Trustee and the Trustee; Servicer by the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06Depositor. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 8.07 shall not become effective upon until acceptance of appointment by the successor Trustee Trustee, as provided in Section 9.078.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Acquisition Corp. 2005-Fld1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Master Servicer. Such notice shall also be furnished to the Rating Agency. Upon receiving such notice of resignation, the Master Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee at the expense of the Master Servicer as long as the Master Servicer is acting as the Master Servicer at such time. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 8.7 and shall fail to resign after written request therefor for the Trustee's resignation by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then then, with or without cause, the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing having a Fractional Undivided Interest aggregating not less than 5051% 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 or their attorneys-in-fact duly authorized, one complete set of which instrument or instruments shall be delivered to the Servicer Master Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.this

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor and 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. Upon receiving , not less than 60 days before the date specified in such notice of resignationwhen, subject to Section 9.08, such resignation is to take effect, and (b) acceptance by such successor trustee in accordance with Section 9.08 meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 9.06. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06Rating Agency. 120 Any resignation or removal of the Trustee and appointment of a successor Trustee thereto pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of such appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Southwest Financial Securities Corp)

Resignation and Removal of Trustee. The Trustee ---------------------------------- may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agencythe Servicer, such resignation to be effective upon the appointment of a successor trustee. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.07 and shall fail to resign after written request therefor for the Trustee's resignation by the Servicer, or if at any time the Trustee shall become incapable of acting, or an order for relief shall be adjudged a bankrupt have been entered in any bankruptcy or insolventinsolvency proceeding with respect to the Trustee, 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 conversion or liquidation, or in order to change the situs of the Trust Estate for state tax reasons, then the Servicer may shall remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing in the aggregate not less than 5051% of the Voting Rights Interests represented by 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 or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered to the Servicer Servicer, one complete set of which shall be delivered to the Trustee so removed and one complete set of which shall be delivered to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ba Mortgage Securities Inc/)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Seller and the 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, so long as the Class I-A and the Class B Certificates are outstanding, to the applicable Rating Agency. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, subject to Section 9.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 9.08 meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 9.06. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor, with the consent of the Servicer, may remove the Trustee and and, with the consent of the Servicer, appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee and, so long as the Class I-A and the Class B Certificates are outstanding, to the applicable Rating Agencies. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove evidenced by the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06Certificates. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2002-S4)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 5051% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (National City Mortgage Capital Trust 2008-1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer Servicers, the NIMS Insurer and the Depositor and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer Depositor shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee Trustee, and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer Depositor and the Trustee; the Servicer Depositor shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. Mortgage Pass-Through Certificates Series 2005-B)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee. 100 If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Servicer Depositor may remove the Trustee and the Depositor shall promptly appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Servicer and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at least 51% of the Voting Rights of all Classes of Certificates, 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 authorized, one complete set of which instruments shall be delivered by the successor Trustee to the 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; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust, Series 2005-Ab3)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.-86-

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, LLC)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Servicer Depositor may remove the Trustee and the Depositor shall promptly appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Servicer and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at least 51% of the Voting Rights of all Classes of Certificates, 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 authorized, one complete set of which instruments shall be delivered by the successor Trustee to the 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; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Speciality Underwriting & Residential Finance Trust, Series 2005-Ab2)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer and mailing a copy Company, which shall be effective 30 days after receipt of such notice to all Holders unless Company and Trustee agree otherwise. If a Change of record. The Control shall previously have occurred, the Trustee shall also mail a copy of give such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrumentnotice, in duplicatewriting, one copy of which instrument shall be delivered to the resigning Trustee Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within Plan Participants, specifying a date (not less than 30 days after the giving of such notice of resignationnotice) when such resignation shall take effect. Promptly after such notice, the resigning Company, or if a Change in Control shall previously have occurred, the Company and at least 80% of the Plan Participants then entitled to receive payments hereunder, shall appoint a successor trustee, such trustee to become Trustee may hereunder upon the resignation date specified in such notice. If the Company and such Plan Participants are unable to appoint a successor trustee within 60 days after such notice, the Trustee shall be entitled, at the expense of the Company, to petition a United States District Court or any court of competent jurisdiction for in the appointment of a successor Trustee. If at any time state in which the Trustee shall cease maintains its principal place of business to be eligible appoint its successor, in accordance with section 10(c). The Trustee shall continue to serve until its successor accepts the provisions Trust and receives delivery of Section 9.05 and shall fail to resign after written request therefor by the ServicerTrust Corpus. The Company, or if a Change in Control shall previously have occurred, the Company and at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50least 80% of the Voting Rights Plan Participants then entitled to receive payments hereunder, may at any time remove substitute a new trustee by giving 15 days notice thereof to the Trustee by written instrument then acting. In the event of such removal or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of resignation, the Trustee shall duly file with the Company and, on and appointment after a Change in Control, the Plan Participants, a written statement or statements of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee accounts and proceedings as provided in Section 9.079(b) hereof for the period since the last previous annual accounting of the Trust, and if written objections to such account are not filed as provided in Section 9(b) hereof, the Trustee shall to the maximum extent permitted by applicable law be forever released and discharged from all liability and accountability with respect to the propriety of its acts and transactions shown in such account. The Trustee and any successor thereto appointed hereunder shall be a corporate professional trustee which is not an affiliate of the Company but which has equity in excess of $100,000,000.00.

Appears in 1 contract

Samples: Trust Agreement (Sun Co Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Swap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof and upon acceptance of appointment by a successor Swap administrator under the Swap Administration Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He5)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Master Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agencythe Certificate Insurer. Upon receiving such notice of resignation, the Master Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.06 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed removed, one copy to the successor and one copy to the successorCertificate Insurer. The Holders of Certificates evidencing not less Percentage Interests aggregating more than 50% of the Voting Rights 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-fact duly authorized, one complete set of which instruments shall be delivered to the Servicer Master Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.08. As long as the Certificate Insurance Policy is in effect, the Master Servicer will send a written notice to the Certificate Insurer or any such resignation, removal or appointment.

Appears in 1 contract

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

Resignation and Removal of Trustee. (a) The Trustee may resign at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer and mailing a copy Company, which shall be effective sixty (60) days after r~ceipt of such notice to all Holders of recordunless the Company and the Trustee agree otherwise. The (b) The. Trustee shall also mail a copy of such may be removed by the Company on sixty (60) days written notice of resignation to each Rating Agency. Upon receiving such or upon shorter written notice of resignation, accepted by the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any (c) Upon resignation or removal of the Trustee and appointment of a successor Trustee pursuant successor· (d) Trustee, all assets shall subsequently be transferred to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee • . T4e transfer shall be completed within 90 days after. receipt of notice of successor trustee's acceptance of appoin~ment. · If the Trustee resigns or is removed, another bank or trust company· shall be appointed as provided successor trustee. Before a Change in Section 9.07Control such appointment shall be made by the Company. From and after a Change in . Control any such appointment shall be made by the Consulting Firm, subject to the minimum standards set forth in Exhibit B hereto. The Company shall · promptly notify the Consulting Firm of the name and address of a successor trustee appointed by it, and the Consulting Firm shall promptly notify Plan participants and bene~ciaries of the name and address of every successor . trustee appointed or otherwise serving following a Change in Control. Each . appointment shall be effective when accepted in writing by the new trustee, who shall have all of the rights and powers of the former trustee, including.· ownership rights in the Trust assets upon transfer of same to the new trustee. The former trustee shall execute any instrument necessary or reasonably requested by the Company or the suc.cessor trustee to evidence the transfer .. If no appointment of a successor trustee has been made pursuant to this subsection, the Trustee may apply to a court of competent jurisdiction for appointment ot a successor or for instructions. All e:xpenses of the Trustee in. connection with the proceeding shall be allowed as · administrative expenses-of the Trust. (e) The successor trustee need not examine the records and acts of any prior trustee and may retain or dispose of existing Trust assets, subject to Sections 7 and 8 hereof. The successor· trustee shall not be responsible for any claim or liability resulting from any action or inaction of any prior tr1,1stee or from 12

Appears in 1 contract

Samples: State Street Corp

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Certificate Insurer. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency and the Certificate Insurer by the Trustee or successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asst Asset Backed Certs Ser 2003 He1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Master Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Master Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer and the Trustee; the Master Servicer shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nationsbanc Montgomery Funding Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof to the Master Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agencythe Certificate Insurer. Upon receiving such notice of resignation, the Master Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.06 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument 125 shall be delivered to the Trustee so removed removed, one copy to the successor and one copy to the successorCertificate Insurer. The Holders of Certificates evidencing not less 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-fact duly authorized, one complete set of which instruments shall be delivered to the Servicer Master Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.08. 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. As long as the Certificate Insurance Policy is in effect, the Master Servicer will send a written notice to the Certificate Insurer of any such resignation, removal or appointment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Cert Series 2001-5)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, such appointment by a successor trustee meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Servicer Depositor may remove the Trustee and the Depositor shall promptly appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Servicer and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at least 51% of the Voting Rights of all Classes of Certificates, 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 authorized one complete set of which instruments shall be delivered by the successor Trustee to the 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; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residental Finance Trust, Series 2004-Aa1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof of resignation to the Servicer and mailing a copy of such Servicer. Such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation be furnished to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee at the expense 92 of the Servicer. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 8.7 and shall fail to resign after written request therefor for the Trustee's resignation by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then then, with or without cause, the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing having a Percentage Interest aggregating not less than 5051% 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 or their attorneys-in-fact duly authorized, one complete set of which instrument or instruments shall be delivered to the Servicer Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06trustee so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.9.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp Mul Cl Mort Pass THR Cert Ser 2003-1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Sellers, MBIA, the Special Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies and MBIA by the Trustee; Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Servicer shall thereupon use their best efforts to appoint giving of such notice of resignation or receipt of a mutually acceptable 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 in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Series 2001 33)

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Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the Servicer, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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 the Servicer Depositor may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 Servicer Trustee so removed and one complete set to the Trustee; successor so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2005-NCB)

Resignation and Removal of Trustee. (a) The Trustee may resign at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer and mailing a copy Company, which shall be effective 30 days after receipt of such notice to all Holders unless Company and Trustee agree otherwise. If a Change of record. The Control shall previously have occurred, the Trustee shall also mail a copy of give such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrumentnotice, in duplicatewriting, one copy of which instrument shall be delivered to the resigning Trustee Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within Executives, specifying a date (not less than 30 days after the giving of such notice of resignationnotice) when such resignation shall take effect. Promptly after such notice, the resigning Company, or if a Change in Control shall previously have occurred, the Company and at least 80% of the Executives then entitled to receive payments hereunder, shall appoint a successor trustee, such trustee to become Trustee may hereunder upon the resignation date specified in such notice. If the Company and such Executives are unable to appoint a successor trustee within 60 days after such notice, the Trustee shall be entitled, at the expense of the Company, to petition a United States District Court or any court of competent jurisdiction for in the appointment of a successor Trustee. If at any time state in which the Trustee shall cease maintains its principal place of business to be eligible appoint its successor, in accordance with section 10(c). The Trustee shall continue to serve until its successor accepts the provisions Trust and receives delivery of Section 9.05 and shall fail to resign after written request therefor by the ServicerTrust Corpus. The Company, or if a Change in Control shall previously have occurred, the Company and at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50least 80% of the Voting Rights Executives then entitled to receive payments hereunder, may at any time remove substitute a new trustee by giving 15 days notice thereof to the Trustee by written instrument then acting. In the event of such removal or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of resignation, the Trustee shall duly file with the Company and, on and appointment after a Change in Control, the Executives, a written statement or statements of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee accounts and proceedings as provided in Section 9.079(b) hereof for the period since the last previous annual accounting of the Trust, and if written objections to such account are not filed as provided in Section 9(b) hereof, the Trustee shall to the maximum extent permitted by applicable law be forever released and discharged from all liability and accountability with respect to the propriety of its acts and transactions shown in such account. The Trustee and any successor thereto appointed hereunder shall be a corporate professional trustee which is not an affiliate of the Company but which has equity in excess of $100,000,000.00.

Appears in 1 contract

Samples: Trust Agreement (Sun Co Inc)

Resignation and Removal of Trustee. 107- The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the Servicer, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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 the Servicer Depositor may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 Servicer Trustee so removed and one complete set to the Trustee; successor so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 1 contract

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

Resignation and Removal of Trustee. (a) The Trustee Trustee, or any trustee or trustees hereafter appointed, may at any time resign and be discharged from the trust hereby created with respect to one or more or all series of Securities by giving written notice thereof of such resignation to the Servicer Company and mailing a copy by giving to the holders of such Securities of the applicable series notice thereof in the manner and to all Holders the extent provided in subsection (c) of record. The Trustee shall also mail a copy Section 5.4 with respect to reports pursuant to subsection (a) of such notice of resignation to each Rating AgencySection 5.4. Upon receiving such notice of resignationresignation and if the Company shall deem it appropriate evidence satisfactory to it of such mailing, the Servicer Company shall use their best efforts to promptly appoint a mutually acceptable successor Trustee with respect to the applicable series (it being understood that any successor Trustee may be appointed with respect to the Securities of one or more or all of such series and at any time there shall be only one Trustee with respect to the Securities of any particular series) by written instrument, in duplicate, executed pursuant to a Company Resolution, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed with respect to any series and shall have accepted appointment within 30 days after the giving mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If , or any Securityholder who has been a bona fide holder of a Security or Securities of the applicable series for at any time the Trustee shall cease least six months may, subject to be eligible in accordance with the provisions of Section 9.05 6.8, on behalf of himself and shall fail to resign after written request therefor by the Servicerall others similarly situated, or if at petition any time the Trustee shall become incapable of acting, or shall be adjudged 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 such court for the purpose of rehabilitation, conservation or liquidation, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the Trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor Trustee as provided in Section 9.07Trustee.

Appears in 1 contract

Samples: Dominion Resources Inc /Va/

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor, the Swap Counterparty, the Cap Counterparty and the Master Servicer and each Rating Agency. Upon receiving Agency not less than 60 days before the date specified in such notice of resignationwhen, 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 Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.6. If no successor Trustee trustee meeting such qualifications shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of or 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 9.05 8.6 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged a 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 duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50entitled 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 Servicer 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; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.7 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.8 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Saxon Asset Securities Trust 2006-2)

Resignation and Removal of Trustee. The Trustee may resign as to all or any of the subclasses of the Securities at any time resign and be discharged from the trust hereby created without cause by giving at least 90 days’ prior written notice thereof to the Issuer, the Guarantor, the Policy Provider, the Initial Credit Facility Provider, the Administrative Agent, the Cash Manager, the Remarketing Servicers, the Back-Up Remarketing Servicer and mailing a copy of the Holders, such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice be effective only upon acceptance of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor replacement trustee by a Senior Trustee. If at Holders of a majority of the Outstanding Principal Balance of any time subclass of the Trustee shall cease Securities (or, with respect to the Subclass 140 A-1 Securities or any other subclass of Covered Class A Securities, the Policy Provider or, so long as it is entitled to be eligible in accordance with a Controlling Party, the provisions of Section 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights Initial Credit Facility Provider) may at any time remove the Trustee as to such subclass without cause by written an instrument or instruments in writing delivered to the Servicer Issuer, the Guarantor, the Guarantor Trustee, the Administrative Agent, the Cash Manager, the Remarketing Servicers, the Back-Up Remarketing Servicer, the Security Trustee, the Senior Trustee and the Trustee being removed, such removal to be effective only upon the acceptance of the appointment by a successor Trustee; . In addition, the Servicer shall thereupon use their best efforts Issuer may remove the Trustee as to appoint any of the subclasses of the Securities if: (i) this Indenture has been qualified under Trust Indenture Act and such Trustee fails to comply with Section 310 of the TIA after written request therefor by the Issuer or the Holder of the related subclass who has been a mutually acceptable bona fide Holder for at least six months, (ii) such Trustee fails to comply with Section 7.02(c) hereof, (iii) such Trustee is adjudged a bankrupt or an insolvent, (iv) a receiver or public officer takes charge of such Trustee or its property or (v) such Trustee becomes incapable of acting, such removal to be effective only upon the acceptance of the appointment by a successor Trustee. References to the Trustee in this Indenture include any successor Trustee as to all or any of the subclasses of the Securities appointed in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07Article VII.

Appears in 1 contract

Samples: Trust Indenture (Aircastle LTD)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof of resignation to the Servicer and mailing a copy of such Servicer. Such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation be furnished to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.7 and shall fail to resign after written request therefor for the Trustee's resignation by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then then, with or without cause, the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing having a Percentage Interest aggregating not less than 5051% 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 or their attorneys-in-fact duly authorized, one complete set of which instrument or instruments shall be delivered to the Servicer Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06trustee so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.07.8.9. 113

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp Series 2002-1a)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Seller and the 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, so long as the Class I-A and the Class B Certificates are outstanding, to the Rating Agency. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, subject to Section 9.08, such resignation is to take effect, and (b) acceptance by a successor trustee in accordance with Section 9.08 meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 9.06. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its 134 obligations or representations hereunder, then the Servicer Depositor, with the consent of the Servicer, may remove the Trustee and and, with the consent of the Servicer, appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee and, so long as the Class I-A and the Class B Certificates are outstanding, to the Rating Agencies. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove evidenced by the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06Certificates. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Ser 2002 Ar17)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor, each Rating Agency. Upon receiving Agency and the Certificateholders not less than 60 days before the date specified in such notice of resignationwhen, subject to Section 6.08, such resignation is to take effect, and acceptance by a successor trustee in accordance with Section 6.08 meeting the Servicer qualifications set forth in Section 6.06. The resignation shall use their best efforts to promptly appoint not be effective until a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee has been assigned. If no successor Trustee trustee meeting such qualifications shall have been so appointed by the Depositor and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 6.06 and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged a 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 Servicer may Depositor shall remove the Trustee and appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed removed, one copy of which shall be delivered to the Depositor and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07trustee.

Appears in 1 contract

Samples: Trust Agreement (Bcap 2006-Rr1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Seller, the Trust Administrator, the Master Servicer, the Certificate Insurer, any Special Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSAB Mortgage-Backed Pass-Through Certificates, Series 2006-2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating AgencyMaster Servicer. Upon receiving such notice of resignation, the Master Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.06 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less 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-fact duly authorized, one complete set of which instruments shall be delivered to the Servicer Master Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.07 shall become effective upon acceptance of 115 appointment by the successor Trustee trustee as provided in Section 9.078.08. 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 1 contract

Samples: Pooling and Servicing Agreement (Wamu Mor Pass Thru Cert Ser 2001-Ar1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Depositor, the Seller, the Master Servicer, the Backup Servicer, the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating Agency. Upon receiving such notice of resignationresignation of the Trustee, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee that meets the requirements in Section 9.06, by written instrument, in duplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have having accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, 9.06 hereof or if at any time the Trustee shall become incapable of actingbe legally unable to act, or shall be adjudged 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, then the Servicer Depositor 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 9.06, by written instrument, in duplicate, one copy of which instrument shall be delivered to the successor Trustee so removed and one copy to each of the successorMaster Servicer, the Backup Servicer and the Servicer. The Holders of Certificates evidencing not less than 50entitled 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 to the Depositor, one complete set to the Trustee so removed and one complete set to the successor so appointed. A copy of such instrument shall be delivered to the Certificateholders, the Trustee and the Master Servicer, the Backup Servicer and the Trustee; Servicer by the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06Depositor. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 9.07 shall not become effective upon until acceptance of appointment by the successor Trustee Trustee, as provided in Section 9.079.08 hereof.

Appears in 1 contract

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

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Sellers, the Special Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund's expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 1 contract

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

Resignation and Removal of Trustee. The Trustee (a) No Trustee, or any trustee or trustees hereafter appointed, may at any time resign and be discharged from the trust hereby created with respect to one or more or all series of Securities by giving written notice thereof of such resignation to the Servicer Corporation and mailing a copy by giving to the holders of such Securities of the applicable series notice thereof in the manner and to all Holders the extent provided in subsection (c) of record. The Trustee shall also mail a copy Section 5.4 with respect to reports pursuant to subsection (a) of such notice of resignation to each Rating AgencySection 5.4. Upon receiving such notice of resignationresignation and if the Corporation shall deem it appropriate evidence satisfactory to it of such written notice, the Servicer Corporation shall use their best efforts to promptly appoint a mutually acceptable successor Trustee with respect to the applicable series (it being understood that any successor Trustee may be appointed with respect to the Securities of one or more or all of such series and at any time there shall be only one U.S. Trustee and one Canadian Trustee with respect to the Securities of any particular series) by written instrument, in duplicate, executed pursuant to a Resolution of the Corporation, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed with respect to any series and shall have accepted appointment within 30 days after the giving of such written notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. If , or any Securityholder who has been a bona fide holder of a Security or Securities of the applicable series for at any time the Trustee shall cease least six months may, subject to be eligible in accordance with the provisions of Section 9.05 6.8, on behalf of himself and shall fail to resign after written request therefor by the Servicerall others similarly situated, or if at petition any time the Trustee shall become incapable of acting, or shall be adjudged 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 such court for the purpose of rehabilitation, conservation or liquidation, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the Trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor Trustee as provided in Section 9.07Trustee.

Appears in 1 contract

Samples: And (Algonquin Power & Utilities Corp.)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Master Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Master Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 provision of Section 9.05 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 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 the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the all Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer and the Trustee; the Master Servicer shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee trustee in accordance with this Section 9.06Section. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.this

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Headlands Mortgage Securities Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Swap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 10.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less more than 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 multiple 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 or the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 10.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.0710.09 hereof and upon acceptance of appointment by a successor swap administrator under the Swap Administration Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He7)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof of resignation to the Servicer and mailing a copy of such Servicer. Such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation be furnished to each Rating Agency. Upon receiving such notice of resignation, the a Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee at the expense of the related Servicer. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 8.7 and shall fail to resign after written request therefor for the Trustee's resignation by the a Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the then, with or without cause, a Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing having a Percentage Interest aggregating not less than 5051% 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 or their attorneys-in-fact duly authorized, one complete set of which instrument or instruments shall be delivered to the Servicer related Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06trustee so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.9.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp Multi Cl Mort Ps THR Certs Ser 2003-6)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of or resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee. 100 If at any time (i) the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Servicer Depositor may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Servicer and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at least 51% of the Voting Rights of all Classes of Certificates 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 authorized, one complete set of which instruments shall be delivered by the successor Trustee to the 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; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust, Series 2005-Bc4)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Master Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Master Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 provision of Section 9.05 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 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 the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the all Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer and the Trustee; the Master Servicer shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07Section.

Appears in 1 contract

Samples: Trust Agreement (American Residential Eagle Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Master Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Master Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nationsbanc Montgomery Funding Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer Servicers and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer Servicers shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the ServicerServicers, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer Servicers may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nationsbanc Montgomery Funding Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Servicer Servicer, the NIMS Insurer and the Depositor and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer Depositor shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee Trustee, and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer Depositor and the Trustee; the Servicer Depositor shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-C Trust)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating AgencyMaster Servicer. Upon receiving such notice of resignation, the Master Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.06 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less 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-fact duly authorized, one complete set of which instruments shall be delivered to the Servicer Master Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.08. Any expenses associated with 120 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 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual MSC Mort Pass Through Cert Ser 2001-Ms11)

Resignation and Removal of Trustee. The Trustee may be removed by the Company at any time resign and be discharged from the trust hereby created by giving upon written notice thereof to the Servicer and mailing Trustee to that effect; provided, however, that after a copy Change in Control or during the existence of such notice a Change in Control Period the Trustee may not be removed by the Company without the written consent of at least 75% of the Participants as of the date of removal who were Participants as of the day preceding the Change in Control or the commencement of the Change in Control Period (if removal or the Trustee is to all Holders of recordoccur during a Change in Control Period). The Trustee shall also mail a copy may resign as Trustee of such the Trust Fund upon written notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be that effect delivered to the resigning Trustee Company. Such removal or resignation shall become effective as of the last day of the month which coincides with or next follows the expiration of 90 days from the date of the delivery of such written notice, unless an earlier or later date is agreed upon by the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after In the giving event of such notice of removal or resignation, a successor trustee shall be appointed by the resigning Company to become Trustee may petition as of the time such removal or resignation becomes effective; provided, however, that after a Change in Control and during the existence of a Change in Control Period any court appointment of competent jurisdiction a successor trustee must be approved in writing by at least 75% of the Participants as of the date of appointment who were Participants as of the day preceding the Change in Control or the commencement of the Change in Control Period (if the appointment is to occur during the Change in Control Period). No successor trustee appointed hereunder shall be held responsible or liable for the acts or omissions of its predecessor trustee. Upon the appointment of a successor Trusteetrustee, the retiring Trustee shall endorse, transfer, assign, convey and deliver to the successor trustee all of the funds, securities and other property then held by it in the Trust Fund, except such amounts as it may consider necessary to cover its compensation and its expenses in connection with the settlement of its accounts and the delivery of the Trust Fund to the successor trustee. If at The balance remaining of any amount so reserved shall be transferred and paid over to the successor trustee promptly upon settlement of its accounts, subject to the right of the retiring Trustee to retain any property deemed unsuitable by it for transfer until such time as transfer can be made. Nothing herein shall be construed to deny the Trustee shall cease the right to be eligible in accordance with the provisions a settlement of Section 9.05 its accounts either by: (a) a receipt and shall fail to resign after written request therefor release executed by the Servicer, Company or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee (b) settlement by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment order of a successor Trustee pursuant to any court of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.competent jurisdiction. SECTION X AMENDMENT AND TERMINATION

Appears in 1 contract

Samples: Trust Agreement (PNC Financial Services Group Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Sellers, the Trust Administrator, the Master Servicer and the 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 to the Rating Agency. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 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 trust Trust hereby created by giving written notice thereof to the Servicer Depositor, the Seller and mailing the Master Servicer, with a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating AgencyAgencies and the Swap Provider. Upon receiving such notice of resignation, the Servicer Depositor shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to each of the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee 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 duplicatemultiple copies, one a copy of which instrument shall be delivered to the Trustee so removed Trustee, the Master Servicer and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 multiple 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 Servicer Master Servicer, the Trustee so removed and the Trustee; successor trustee so appointed. Notice of any removal of the Servicer Trustee shall thereupon use their best efforts be given to appoint a mutually acceptable each Rating Agency by the Trustee or successor trustee. Any resignation or removal of LaSalle Bank National Association as Trustee shall also result in accordance with this Section 9.06the 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 trustee pursuant to any of the provisions of this Section 9.06 9.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.09 hereof and upon acceptance of appointment by a successor swap administrator under the Swap Administration Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He10)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the Servicer, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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 the Servicer 124 Depositor may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Servicer and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at least 51% of the Voting Rights of all Classes of Certificates, upon failure of the Trustee to perform its obligations hereunder, may (with the prior written consent of the Class A-1B Certificate Insurer, which consent shall not be unreasonably withheld) 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 Servicer 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 Trustee; Class A-1B Certificate Insurer by the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Master Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Rating Agency. Upon receiving such notice of resignation, the Master Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 provision of Section 9.05 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 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 the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the all Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer and the Trustee; the Master Servicer shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee trustee in accordance with this Section 9.06Section. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenpoint Mort Sec Inc Mort Back Ps THR Certs Ser 2003-1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Master Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agencythe Certificate Insurer. Upon receiving such notice of resignation, the Master Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.06 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged a 91 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 the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed removed, one copy to the successor and one copy to the successorCertificate Insurer. The Subject to Section 10.03, the Holders of Certificates evidencing not less Percentage Interests aggregating more than 50% of the Voting Rights 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-fact duly authorized, one complete set of which instruments shall be delivered to the Servicer Master Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.08. As long as the Certificate Insurance Policy is in effect, the Master Servicer will send a written notice to the Certificate Insurer of any such resignation, removal or appointment.

Appears in 1 contract

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

Resignation and Removal of Trustee. The Trustee may be removed by the Company at any time resign and be discharged from the trust hereby created by giving upon written notice thereof to the Servicer and mailing Trustee to that effect; provided, however, that after a copy Change in Control or during the existence of such notice a Change in Control Period the Trustee may not be removed by the Company without the written consent of at least 75% of the Participants as of the date of removal who were Participants as of the day preceding the Change in Control or the commencement of the Change in Control Period (if removal or the Trustee is to all Holders of recordoccur during a Change in Control Period). The Trustee shall also mail a copy may resign as Trustee of such the Trust Fund upon written notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be that effect delivered to the resigning Trustee Company. Such removal or resignation shall become effective as of the last day of the month which coincides with or next follows the expiration of 90 days from the date of the delivery of such written notice, unless an earlier or later date is agreed upon by the Company and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after In the giving event of such notice of removal or resignation, a successor trustee shall be appointed by the resigning Company to become Trustee may petition as of the time such removal or resignation becomes effective; provided, however, that after a Change in Control and during the existence of a Change in Control Period any court appointment of competent jurisdiction a successor trustee must be approved in writing by at least 75% of the Participants as of the date of appointment who were Participants as of the day preceding the Change in Control or the commencement of the Change in Control Period (if the appointment is to occur during the Change in Control Period). No successor trustee appointed hereunder shall be held responsible or liable for the acts or omissions of its predecessor trustee. Upon the appointment of a successor Trusteetrustee, the retiring Trustee shall endorse, transfer, assign, convey and deliver to the successor trustee all of the funds, securities and other property then held by it in the Trust Fund, except such amounts as it may consider necessary to cover its compensation and its expenses in connection with the settlement of its accounts and the delivery of the Trust Fund to the successor trustee. If at The balance remaining of any amount so reserved shall be transferred and paid over to the successor trustee promptly upon settlement of its accounts, subject to the right of the retiring Trustee to retain any property deemed unsuitable by it for transfer until such time as transfer can be made. Nothing herein shall be construed to deny the Trustee shall cease the right to be eligible in accordance with the provisions a settlement of Section 9.05 its accounts either by: (a) a receipt and shall fail to resign after written request therefor release executed by the Servicer, Company or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee (b) settlement by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment order of a successor Trustee pursuant to any court of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07competent jurisdiction.

Appears in 1 contract

Samples: Trust Agreement (PNC Financial Services Group Inc)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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, (B) the imposition of such tax would be avoided by the appointment of a different trustee and (C) the Trustee fails to indemnify the Trust Fund against such tax, then the Servicer Depositor may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Servicer and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at least 51% of the Voting Rights of all Classes of Certificates upon failure of the Trustee to perform its obligations hereunder may at any time remove the Trustee and the 108 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 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; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Specialty Underwriting & Residential Finance Trust Series 2005-Bc3)

Resignation and Removal of Trustee. The Trustee may at any ---------------------------------- time resign and be discharged from the trust trusts hereby created by giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating AgencyMaster Servicer. Upon receiving such notice of resignation, the Master Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.06 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and removed, one copy to the successor. The Holders of Certificates evidencing not less 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-fact duly authorized, one complete set of which instruments shall be delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts Master Servicer, one complete set to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee so removed and appointment of a successor Trustee pursuant one complete set to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07so appointed.

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 trust hereby created by giving written notice thereof to the Servicer servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Mort Sec Inc Alternative Loan Trust 2003-1)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Master Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Master Servicer shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 provision of Section 9.05 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 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 the Master Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the all Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Master Servicer and the Trustee; the Master Servicer shall thereupon use their its best efforts to appoint a mutually acceptable successor Trustee trustee in accordance with this Section 9.06Section. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Sequoia Mortgage Funding Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust hereby created by giving written notice thereof to the Depositor and the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each Rating Agency. Upon receiving such notice of resignation, the Servicer Depositor shall use their its best efforts to promptly appoint a mutually acceptable successor Trustee, which successor Trustee must be reasonable acceptable to the Servicer. The appointment of a successor Trustee shall be made by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 and shall fail to resign after written request therefor by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor. The Holders of Certificates evidencing not less than 50% of the Voting Rights may at any time remove the Trustee by written instrument or instruments delivered to the Servicer and the Trustee; the Servicer Depositor shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06, which successor must be reasonable acceptable to the Servicer. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by giving written notice thereof of resignation to the Servicer and mailing a copy of such Servicer. Such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation be furnished to each Rating Agency. Upon receiving such notice of resignation, the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trusteetrustee. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice 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 9.05 8.7 and shall fail to resign after written request therefor for the Trustee's resignation by the Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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, then then, with or without cause, the Servicer may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Holders of Certificates evidencing having a Percentage Interest aggregating not less than 5051% 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 or their attorneys-in-fact duly authorized, one complete set of which instrument or instruments shall be 109 delivered to the Servicer Servicer, one complete set to the Trustee so removed and one complete set to the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06trustee so appointed. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.8 shall become effective only upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.9.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Abn Amro Mortgage Corp Series 2002-9)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the Servicer, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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 the Servicer Depositor may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed Trustee, one copy of which shall be delivered to the Servicer and one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at least 51% of the Voting Rights of all Classes of Certificates, 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 authorized, one complete set of which instruments shall be delivered to the Servicer and the Trustee; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section 9.06 shall become effective upon acceptance of appointment by the successor trustee to the Trustee as provided in Section 9.07.so removed and one complete set to the successor so 133

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Mortgage Loan Asset-Backed Certificates, Series 2006-Wmc2)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (a) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to each the Depositor, the Sellers, the Trust Administrator, the Master Servicer and the Servicers and 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. Upon receiving Agencies, not less than 60 days before the date specified in such notice of resignationwhen, the Servicer shall use their best efforts subject to promptly appoint a mutually acceptable successor Trustee Section 9.08, such resignation is to take effect, and (b) acceptance by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor Trustee. If no successor Trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trusteetrustee in accordance with Section 9.08 meeting the qualifications set forth in Section 9.06. If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 9.05 9.06 hereof and shall fail to resign after written request therefor thereto by the ServicerDepositor, or if at any time the Trustee shall become incapable of acting, or shall be adjudged 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 liquidationliquidation or if the Trustee breaches any of its obligations or representations hereunder, then the Servicer Depositor may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successorsuccessor trustee. The Trustee may also be removed at any time by the Holders of Certificates evidencing not less than 50% of the Voting Rights may at evidenced by the Certificates. Notice of any time remove removal of the Trustee and acceptance of appointment by written instrument or instruments delivered the successor trustee shall be given to the Servicer Rating Agencies by the Depositor. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the Trustee; giving of such notice of resignation or receipt of a notice of removal, the Servicer shall thereupon use their best efforts to appoint resigning Trustee may, at the Trust Fund’s expense, petition any court of competent jurisdiction for the appointment of a mutually acceptable successor Trustee in accordance with this Section 9.06trustee. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 9.07 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.079.08 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Series 2003-25)

Resignation and Removal of Trustee. The Trustee may at any time resign and be discharged from the trust trusts hereby created by (1) giving written notice thereof to the Servicer and mailing a copy of such notice to all Holders of record. The Trustee shall also mail a copy of such notice of resignation to the Depositor 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. Upon receiving , not less than 60 days before the date specified in such notice when, subject to Section 8.09, such resignation is to take effect, and (2) acceptance of resignation, appointment by a successor trustee in accordance with Section 8.09 and meeting the Servicer shall use their best efforts to promptly appoint a mutually acceptable successor Trustee by written instrument, qualifications set forth in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor TrusteeSection 8.07. If no successor Trustee trustee shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of 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 9.05 8.07 hereof and shall fail to resign after written request therefor thereto by the Servicer, Depositor or if at any time (ii) the Trustee shall become incapable of acting, or shall be adjudged a 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 the Servicer Depositor may remove the Trustee and shall promptly appoint a successor trustee by written instrument, in duplicatetriplicate, one copy of which instrument shall be delivered to the Trustee so removed and Trustee, one copy of which shall be delivered to the successorsuccessor trustee. The Holders of Certificates evidencing not less than 50at 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 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; the Servicer shall thereupon use their best efforts to appoint a mutually acceptable successor Trustee in accordance with this Section 9.06. Any resignation or removal of the Trustee and appointment of a successor Trustee trustee pursuant to any of the provisions of this Section 9.06 8.08 shall become effective upon acceptance of appointment by the successor Trustee trustee as provided in Section 9.078.09 hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Asst Back Certs Ser TMTS 2003 8he)

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