Orange County NC Website
If a successor Trustee does not take office within 60 days after the retiring Trustee • <br />resigns or is removed, the retiring Trustee, the County or the Majority Owners may <br />petition any court of competent jurisdiction for the appointment of a successor Trustee. <br />Section 9.06. Successor Trustee by Merger. If the Trustee consolidates with, <br />merges or converts into, or transfers all or substantially all its assets (or, in the case of a <br />bank or trust company, its corporate trust assets) to another corporation, the resulting, <br />surviving or transferee corporation without any further act will be the successor Trustee. <br />Section 9.07. Acceptance of Financing Contract Terms. By its execution of this <br />Trust Agreement, the Trustee hereby signifies its acceptance of its responsibilities under <br />the Financing Contract, and agrees to be bound thereby. <br />ARTICLE X <br />AMENDMENTS OF AND SUPPLEMENTS TO TRUST AGREEMENT, <br />BONDS, FINANCING CONTRACT OR DEED OF TRUST <br />Section 10.01. Without Owners' Consent. (a) The Company and the Trustee may <br />amend or supplement this Trust Agreement or the Bonds without notice to or consent of <br />any Owner for the following purposes: • <br />(i) to cure any ambiguity, inconsistency or formal defect or omission; <br />(ii) to grant to the Trustee for the benefit of the Owners additional rights, <br />remedies, powers or authority; <br />(iii) to subject to this Trust Agreement additional collateral or to add other <br />agreements of the Company or the County; <br />(iv) to modify this Trust Agreement or the Bonds to permit qualification under <br />the Trust Indenture Act of 1939 or any similar federal statute at the time in effect, or to <br />permit the qualification of the Bonds for sale under the securities laws of the United <br />States or of any state of the United States; <br />(v) to provide for Bonds in certificated, registered form pursuant to Section <br />2.01(b), or for the issuance of Additional Bonds; <br />(vi) to evidence the succession of a new Trustee; or <br />(vii) to make any other change that does not materially adversely affect the • <br />rights of any Owner. <br />(b) The Company may enter into, and the Trustee may consent to, any <br />amendment of or supplement to the Financing Contract or the Deed of Trust, without <br />2s <br />