Common use of Action by or Consent of Certificateholders Clause in Contracts

Action by or Consent of Certificateholders. (a) Except as expressly provided herein, any action that may be taken by the Certificateholders under this Agreement may be taken by a majority of each class affected, with the Class A Certificateholders and the Class GP Certificateholders voting together, unless the action proposed affects only one class or unless this Agreement provides that the vote with respect to the matter may be taken by only one class, in which case only the vote of the affected class shall be required. Except as expressly provided herein, any written notice or consent of the Class A Certificateholders or the Class GP Certificateholders delivered pursuant to this Agreement shall be effective for such class if signed by Holders of the Class A Certificates or the Class GP Certificates, as the case may be, evidencing not less than a majority of the Certificate Balance represented by the Class A Certificates or a majority of the Certificate Balance represented by the Class GP Certificates, respectively, at the time of the delivery of such notice. (b) Whenever any provision of this Agreement refers to action to be taken, or consented to, by Certificateholders, such provision shall be deemed to refer to Certificateholders of record as of the Record Date immediately preceding the date on which such action is to be taken, or consent given, by Certificateholders. Solely for the purposes of any action to be taken, or consented to, by Class A Certificateholders, any Class A Certificate registered in the name of OGP I, OGP II, OFL or any Affiliate thereof shall be deemed not to be outstanding and the Certificate Balance represented thereby shall not be taken into account in determining whether the requisite percentage of the Certificate Balance necessary to effect any such action or consent has been obtained; PROVIDED, HOWEVER, that, solely for the purpose of determining whether the Owner Trustee is entitled to rely upon any such action or consent, only Class A Certificates which the Owner Trustee knows to be so owned shall be so disregarded.

Action by or Consent of Certificateholders. (a) Except as expressly provided herein, any action that may be taken by the Certificateholders under this Agreement may be taken by a majority of each class affected, with the Class A Certificateholders and the Class GP Certificateholders voting together, unless the action proposed affects only one class or unless this Agreement provides that the vote with respect to the matter may be taken by only one class, in which case only the vote of the affected class shall be required. Except as expressly provided herein, any written notice or consent of the Class A Certificateholders or the Class GP Certificateholders delivered pursuant to this Agreement shall be effective for such class if signed by Holders of the Class A Certificates or the Class GP Certificates, as the case may be, evidencing not less than a majority of the Certificate Balance represented by the Class A Certificates or a majority of the Certificate Balance represented by the Class GP Certificates, respectively, at the time of the delivery of such notice. (b) Whenever any provision of this Agreement refers to action to be taken, or consented to, by Certificateholders, such provision shall be deemed to refer to Certificateholders of record as of the Record Date immediately preceding the date on which such action is to be taken, or consent given, by Certificateholders. Solely for the purposes of any action to be taken, or consented to, by Class A Certificateholders, any Class A Certificate registered in the name of OGP I, OGP II, OFL or any Affiliate thereof shall be deemed not to be outstanding and the Certificate Balance represented thereby shall not be taken into account in determining whether the requisite percentage of the Certificate Balance necessary to effect any such action or consent has been obtained; PROVIDED, HOWEVER, that, solely for the purpose of determining whether the Owner Trustee is entitled to rely upon any such action or consent, only Class A Certificates which the Owner Trustee knows to be so owned shall be so disregarded.

Action by or Consent of Certificateholders. (a) Except as expressly provided herein, herein (i) any action that may be taken by the Certificateholders under this Agreement may be taken by Certificateholders holding Certificates that evidence a majority of each class affectedthe Certificate Balance (a "Certificate Majority"), with the Class A Certificateholders and the Class GP Certificateholders voting together, unless the action proposed affects only one class or unless this Agreement provides that the vote with respect to the matter may be taken by only one class, in which case only the vote of the affected class shall be required. Except as expressly provided herein, (ii) any written notice or consent of the Class A Certificateholders or the Class GP Certificateholders delivered pursuant to this Agreement shall be effective for such class if signed by Holders of the Class A Certificates or the Class GP Certificates, as the case may be, evidencing not less than a majority of the Certificate Balance represented by the Class A Certificates or a majority of the Certificate Balance represented by the Class GP Certificates, respectively, at the time of the delivery of such noticeBalance. (b) Whenever any provision of this Agreement refers to action to be taken, or consented to, by Certificateholders, such provision shall be deemed to refer to Certificateholders of record as of the Record Date immediately preceding the date on which such action is to be taken, or consent given, by Certificateholders. Solely for the purposes of any action to be taken, or consented to, by Class A Certificateholdersthe Certificateholders (including for purposes of determining whether a Certificate Majority has approved any action), any Class A Certificate registered in the name of OGP Ithe General Partner, OGP II, OFL AFL or any Affiliate thereof shall be deemed not to be outstanding outstanding, and the Certificate Balance represented thereby shall not be taken into account in determining whether the requisite percentage of the Certificate Balance necessary to effect any such action or consent has been obtained; PROVIDED, HOWEVER, that, solely for the purpose of determining whether the Owner Trustee is entitled to rely upon any such action or consent, only Class A Certificates which the Owner Trustee knows to be so owned shall be so disregarded.

Action by or Consent of Certificateholders. (a) Except as expressly provided herein, herein (i) any action that may be taken by the Certificateholders under this Agreement may be taken by Certificateholders holding Certificates that evidence a majority of each class affectedthe Certificate Balance (a "Certificate Majority"), with the Class A Certificateholders and the Class GP Certificateholders voting together, unless the action proposed affects only one class or unless this Agreement provides that the vote with respect to the matter may be taken by only one class, in which case only the vote of the affected class shall be required. Except as expressly provided herein, (ii) any written notice or consent of the Class A Certificateholders or the Class GP Certificateholders delivered pursuant to this Agreement shall be effective for such class if signed by Holders of the Class A Certificates or the Class GP Certificates, as the case may be, evidencing not less than a majority of the Certificate Balance represented by the Class A Certificates or a majority of the Certificate Balance represented by the Class GP Certificates, respectively, at the time of the delivery of such noticeBalance. (b) Whenever any provision of this Agreement refers to action to be taken, or consented to, by Certificateholders, such provision shall be deemed to refer to Certificateholders of record as of the Record Date immediately preceding the date on which such action is to be taken, or consent given, by Certificateholders. Solely for the purposes of any action to be taken, or consented to, by Class A Certificateholdersthe Certificateholders (including for purposes of determining whether a Certificate Majority has approved any action), any Class A Certificate registered in the name of OGP I, OGP IIthe General Partner, OFL or any Affiliate thereof shall be deemed not to be outstanding outstanding, and the Certificate Balance represented thereby shall not be taken into account in determining whether the requisite percentage of the Certificate Balance necessary to effect any such action or consent has been obtained; PROVIDED, HOWEVER, that until any Investor Certificates are issued in accordance with the terms of this Agreement, all references herein or in any Related Document to a "Certificate Majority" shall mean the holders of the General Partner Certificates, PROVIDED, FURTHER, that, solely for the purpose of determining whether the Owner Trustee is entitled to rely upon any such action or consent, only Class A Certificates which the Owner Trustee knows to be so owned shall be so disregarded.