1983-102 - Laserfiche WebLink

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3uccessor ~rustee shull not have been de livered to the Trustee .-1ithi.n JO ,l.iys 3fter the giving of such notice of resignation, th~ r.?:3 i Jning ·rrustee may petition any court of competent juris- J ic~i0n for the appointment of a successor Trustee, (':.>) The Trustee may be removed at any time by being ~1.vP.n .,t Least 30 days prior written .,otice by the holders of a ma Jority in aggregate principal amount of the Outstanding nonds by an 1.nstrument or instruments in wr.iting delivered to the Trust•Je, co the Issuer :;snd the narrower, which removal shall be ~ffect1ve 0n the date specified in the notice. {c) If at any time the Trustee shall become incapable of 1ctin1 or shall be adjudged a bankrupt or in solvent, or a r~c~i~er of the Trustee or of its property sha ll be appointed, or any ~uulic officer shall take charge or control of the Trustee or 0f L:~ pr~rerty or affairs fo r the purpose of rehabilitation, cons~r~dtion or liquidation, then upon at least 30 days prior •,1ri':.ten notice (i) the Issuer may remove the Trustee, or {ii) 1ny_ :lon•lholJcr who has been a bona fide holder of a Bond for at least 1.) ::\Onths may, on behalf of himself antl all others similarly s i ':.~.lt<?:l, ::>etition any court of competent jurisdiction for the re;;1ovc1l of the Trustee and the appointment. of a successor Trustee. (,l) lf the Trustee shall resign, be removP-d or become ia.::.:>.[.Jabl..? ,;if :icting, or if a vacancy shall occur in the office of the rrustee for any cause, the Issuer shall promptly appoint ,:i successor Trustee, If the Issuer shall fail to appoint a suc- cessor ~ru~tee within JO days following the resignation, removal or inc~p.:>.bilicy of the Trustee, the Trustee who has submitted a resi<.Jnation or •,1hich is to be removed or which has become inca- pable of acting may appoint a successor Trustee upon giving 30 uays' ,1ritten notice in the manner provideu below to the Issuer ~nJ the Borrower. Such appointme nt shall take effect at any time JO fays thereafter .as may be specif ied in such notice, unless prior to such time the Issuer sha ll notify the Trustee and the proposed successor Trustee of its objection to such appoint1nent. If, •,1ic.i1in one year after such resignation, removal or incapability, or the occurrence of such vacancy, no successor Trustue ~hall hav~ taken office, a successor Trustee shall be appoi.nte•l by ,i :najority in aggregoJte principal a.mount of Oui:.st.an,ling ilonds by an instrument or instruments in writing ,.lel i.v,~rt?d to the Issuer, the retiring Trustee anu the Dor rower, and t.he successor Trustee so appointed s hall, forthwith upon its .:iccl!ptance r)f such appointment, become the successor ·rrustee. [f no :;u..:~es!lor Trustee shd l l have been so .~ppointcd by the Issuer, the rrust•:lt! -:>r the Bonuholder;; and acc l3pted .~ppoint1nent Ln the -65-