Action by Owners with Respect to Certain Matters. (a) The Owner Trustee will take such action or refrain from taking such action under this Agreement or any Trust Related Agreement as it shall be directed pursuant to an express provision of this Agreement or such Trust Related Agreement or, with respect to nonministerial matters, as it shall be directed by all the Owners for so long as any of the Notes are outstanding.
Appears in 18 contracts
Samples: Alternative Servicing Agreement, Trust Agreement, Trust Agreement
Action by Owners with Respect to Certain Matters. (a) The Owner Trustee will take such action or refrain from taking such action under this Agreement or any Trust Related Agreement as it shall be directed pursuant to an express provision of this Agreement or such Trust Related Agreement or, with respect to nonministerial matters, as it shall be directed by all the Owners for so long as any of the Notes are outstandingOwners.
Appears in 4 contracts
Samples: Authority And (National Collegiate Trust 1996-S2), Trust Agreement (National Collegiate Trust 1996-S2), Authority And (National Collegiate Trust 1997-S2)
Action by Owners with Respect to Certain Matters. (a) The Owner Trustee Each of the Trustees will take such action or refrain from taking such action under this Agreement or any Trust Related Agreement as it shall be directed in writing to take or refrain from taking pursuant to an express provision of this Agreement or such Trust Related Agreement or, with respect to nonministerial matters, as it shall be directed by all the Owners for so long as any of the Notes are outstandingMajority Owners.
Appears in 2 contracts
Samples: Administration Agreement (First Marblehead Corp), Administration Agreement (First Marblehead Corp)
