Common use of Action upon Direction by the Holder of the Residual Interest with Respect to Certain Matters Clause in Contracts

Action upon Direction by the Holder of the Residual Interest with Respect to Certain Matters. (a) The Owner Trustee on behalf of the Issuer will not execute an amendment to the Sale and Servicing Agreement, the Indenture or the Administration Agreement that would materially adversely affect the holder of the Residual Interest without the consent of such holder.

Action upon Direction by the Holder of the Residual Interest with Respect to Certain Matters. (a) The Owner Trustee on behalf of the Issuer will not execute an amendment to the Sale Credit and Security Agreement, the Exchange Note Supplement, the Servicing Agreement, the Servicing Supplement, the Indenture or the Administration Agreement that would materially adversely affect the holder of the Residual Interest without the consent of such holder.