Laserfiche WebLink
.J <br />e• <br />not less than 51% in aggregate principal amount of the Notes then <br />outstanding, such instruments to be filed with the Issuer and <br />notice thereof to be published once in a newspaper of general <br />circulation in Indian River County, Florida, published in the <br />City of Vero Beach, Florida, and in a daily financial newspaper <br />or journal of general circulation in the City of New York, New <br />York, not less than 60 days beforQ such removal is to take effect <br />as stated in such instruments and notice. <br />The Trustee may also be removed at any time for any <br />breach of trust or for acting or proceeding in violation of, or <br />for failing to act or proceed in accordance with, any provision <br />of this Agreement with respect to the duties and obligations of <br />the Trustee by any court of competent jurisdiction upon the <br />application of the Issuer or the holders of not less than 25% in <br />aggregate principal amount of the Notes then outstanding. <br />4.04 Successor Trustee. If at any time hereafter the <br />Trustee shall resign, be removed, be dissolved or otherwise <br />become incapable of acting, or shall be taken over by any govern- <br />mental official, agency, department or board, the position of <br />trustee hereunder shall thereupon become vacant. If the position <br />of trustee hereunder shall become vacant for any of the foregoing <br />reasons or for any other reason, the Issuer shall appoint a <br />trustee to fill such vacancy. The Issuer shall publish notice of <br />any such appointment once in a newspaper of general circulation <br />published in Indian River County, Florida, in the City of Vero <br />Beach, Florida, and in a daily financial newspaper or journal of <br />general circulation in the City of New York, New York. <br />At any time after such vacancy shall have occurred, the <br />holders of a majority in aggregate principal amount of the Notes <br />then outstanding, by an instrument or concurrent instruments in <br />writing filed with the Issuer, may appoint a successor Trustee <br />which shall supersede any Trustee theretofore appointed by the <br />Issuer. Photographic copies of each such instrument shall be <br />delivered promptly by the Issuer to the predecessor Trustee and <br />to the successor Trustee so appointed by the Noteholders. <br />If no appointment of a successor Trustee shall be made <br />pursuant to the foregoing provisions of this section, the holder <br />of any Note then outstanding or any retiring Trustee may apply to <br />any court of competent jurisdiction for appointment of a suc- <br />cessor Trustee. <br />4.05 Investments. Except as pro%ided in this Section, <br />the Trustee shall have no power or duty to invest any funds held <br />under this Agreenent or to sell, transfer or otherwise dispose of <br />-11- <br />