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12316306v3 -48- Section 8.14 Merger of Trustee. Any corporation or national banking association into which the Trustee may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer its municipal corporate trust business and assets as a whole or substantially as a whole, or any corporation or national banking association resulting from any such conversion, sale, merger, consolidation or transfer to which it is a party, ipso facto, shall be and become successor trustee hereunder and vested with all of the title to the Trust Estate and all the trusts, powers, discretions, immunities, privileges and all other matters as was its predecessor, without the execution or filing of any instrument or any further act, deed or conveyance on the part of any of the parties hereto, anything herein to the contrary notwithstanding. Section 8.15 Resignation or Removal of Trustee. The Trustee may resign and be discharged from the trusts created by this Indenture by giving to the Borrower and the Issuer 30 days' notice in writing, and to the Bondholders notice by certified or registered mail at its or his/her address as set forth on the registration books, of such resignation, such resignation to take effect upon the appointment of a successor trustee, as hereinafter provided. Any Trustee hereunder may be removed at any time after receipt of 30 days prior notice by an instrument or instruments in writing, appointing a successor to the Trustee so removed, filed with the Trustee and executed by the Holders of a majority in principal amount of the Bonds hereby secured and then outstanding. If at any time the Trustee resigns and no appointment of a successor trustee is made pursuant hereto within 45 days after the giving of a notice of resignation, the resigning trustee may apply to a court of competent jurisdiction at the expense of the Issuer for the appointment of a successor trustee. The resigning trustee shall not be liable for the actions of the successor trustee. Section 8.16 Appointment of Successor Trustee. In case at any time the Trustee shall resign or shall be removed or otherwise shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or if a receiver of the Trustee or of its property shall be appointed, or if a public supervisory office shall take charge or control of the Trustee or of its property or affairs, a vacancy shall forthwith and ipso facto be created in the office of such Trustee hereunder, and a successor may be appointed by the Holders of a majority in principal amount of the said Bonds hereby secured and then outstanding by an instrument or instruments in writing filed with the Trustee and executed by such Bondholders, notification thereof being given to the Issuer, but until a new Trustee shall be appointed by the Bondholders as herein authorized, the Issuer shall, at the written direction of the Company and subject to the provisions hereof, appoint a Trustee to fill such vacancy. After any such appointment by the Issuer, the successor Trustee shall cause notice of such appointment to be mailed within 30 days of such appointment to the registered Holders of the Bonds, but any new Trustee so appointed by the Issuer shall immediately and without further act be superseded by a Trustee appointed in the manner above provided by the Holders of a majority in principal amount of said Bonds whenever such appointment by said Bondholders shall be made. If, in a proper case, no appointment of a successor Trustee shall be made pursuant to the foregoing provisions of this Section within six months after a vacancy shall have occurred in the