BB&T 2015 Annual Report Download - page 316
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8.5 Delivery of Records to Successor: In the event of removal or resignation of the Trustee, the Trustee shall deliver
to the successor trustee all records which shall be required by the successor trustee to enable it to carry out the provisions of the Trust.
8.6 Tax Filings: In addition to any returns required of the Trustee by law, the Trustee shall prepare and file such tax
reports and other returns as the Company and the Trustee may from time to time agree.
Section 9. Removal or Resignation of the Trustee and Designation of Successor Trustee:
9.1 Removal: The Company may remove the Trustee with or without cause upon at least ninety days’ notice in writing
to the Trustee. Removal of the Trustee shall not be effective until the Company has appointed, in writing, a successor trustee, and such
successor has accepted the appointment in writing.
9.2 Resignation: Should the Trustee cease to exist or for any reason fail to act as Trustee, then the Company shall
appoint a successor trustee. The Trustee may resign at any time upon at least ninety days’ written notice to the Company, whereupon
the Company shall appoint a successor trustee.
9.3 Successor Trustee: Each successor trustee shall be a bank or a trust company. During the period that the successor
trustee shall act as Trustee, such successor shall have the powers, duties and protections herein conferred upon the Trustee. The term
“Trustee” wherever used herein, except where the context otherwise requires, shall be deemed to include any successor trustee. Upon
designation of a successor trustee in accordance with this Section 9, and acceptance in writing by the successor trustee of its
appointment, the resigned or removed Trustee shall promptly assign, transfer, deliver and pay over to the successor trustee, in
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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