Common use of Amendments Requiring Consent of Noteholders and Certificateholders Clause in Contracts

Amendments Requiring Consent of Noteholders and Certificateholders. (i) This Agreement may also be amended from time to time by the parties hereto, with prior written notice to the Rating Agencies and the Indenture Trustee and, (x) if the interests of the Noteholders are materially and adversely affected, with the consent of the Noteholders of the Notes evidencing at least a majority of the Note Balance of the Controlling Class of Notes and (y) if the interests of the Certificateholders are materially and adversely affected, with the consent of the Certificateholders evidencing a majority of the Percentage Interest, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or Certificateholders under this Agreement.

Appears in 37 contracts

Samples: Receivables Transfer Agreement (Verizon Owner Trust 2020-B), Receivables Transfer Agreement (Verizon Owner Trust 2020-A), Receivables Transfer Agreement (Verizon ABS II LLC)

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Amendments Requiring Consent of Noteholders and Certificateholders. (i) This Agreement may also be amended from time to time by the parties hereto, with prior written notice to the Rating Agencies and the Indenture Trustee and, (x) if the interests of the Noteholders are materially and adversely affected, with the consent of the Noteholders of the Notes evidencing at least a majority of the Note Balance outstanding principal amount of the Controlling Class of Notes and (y) if the interests of the Certificateholders are materially and adversely affected, with the consent of the Certificateholders evidencing a majority of the Percentage Interest, for the purpose of adding to add any provisions to to, or changing change in any manner or eliminating eliminate any of the provisions of of, this Agreement or for the purpose of modifying in any manner the rights of the Noteholders or Certificateholders under this Agreement.

Appears in 16 contracts

Samples: Account Control Agreement (Verizon Owner Trust 2020-C), Control Agreement (Verizon Owner Trust 2020-C), Account Control Agreement (Verizon Owner Trust 2020-B)

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