Action on Instruction. (a) Subject to Article IV and in accordance with the Transaction Documents, the Certificateholders may by written instruction direct the Owner Trustee in the management of the Trust. Such direction may be exercised at any time by written instruction of the Certificateholders pursuant to Article IV. (b) The Owner Trustee is not required to take any action under this Agreement or any other Transaction Document if the Owner Trustee reasonably determines, or is advised by counsel, that the action (i) is likely to result in liability on the part of the Owner Trustee, (ii) is contrary to the terms of this Agreement or of any other Transaction Document, or (iii) is contrary to law.
Appears in 7 contracts
Samples: Trust Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-C), Trust Agreement (CWABS Revolving Home Equity Loan Trust Series, 2004-P), Trust Agreement (CWHEQ, Inc.)
