Common use of Acts of Noteholders and Certificateholders Clause in Contracts

Acts of Noteholders and Certificateholders. Except as otherwise specifically provided herein, whenever Noteholder or Certificateholder action, consent or approval is required under this Agreement, such action, consent or approval shall be deemed to have been taken or given on behalf of, and shall be binding upon, all Noteholders and Certificateholders if the Majority Securityholders agree to take such action or give such consent or approval.