Common use of Bondholders’ Direction of Proceedings Clause in Contracts

Bondholders’ Direction of Proceedings. Anything herein to the contrary notwithstanding, the Holders of a majority in principal amount of the Outstanding Bonds shall have the right by an instrument in writing executed and delivered to the Trustee, to direct the method and place of conducting all remedial proceedings to be taken by the Trustee hereunder and under each Supplemental Indenture, provided, such direction shall not be otherwise than in accordance with law and the provisions hereof and of each Supplemental Indenture, and that the Trustee shall have the right to decline to follow any such direction which in the opinion of the Trustee would be unjustly prejudicial to Bondholders not parties to such direction.

Bondholders’ Direction of Proceedings. Anything herein in this Indenture to the contrary notwithstanding, the Holders holders of a the majority in principal amount of the Bonds then Outstanding Bonds shall have the right right, by an instrument or concurrent instruments in writing executed and delivered to the Trustee, to direct the method and place of conducting all remedial proceedings to be taken by the Trustee hereunder and under each Supplemental Indenturehereunder, provided, provided that such direction shall not be otherwise than in accordance with law and or the provisions hereof and of each Supplemental Indenture, this Indenture and that the Trustee shall have the right to decline to follow any such direction which in the opinion of the Trustee would be unjustly prejudicial to Bondholders not parties to such direction.

Bondholders’ Direction of Proceedings. Anything herein to the contrary notwithstanding, the Holders of a majority in principal amount of the Outstanding Bonds shall have the right by an instrument in writing executed and delivered to the Trustee, to direct the method and place of conducting all remedial proceedings to be taken by the Trustee hereunder and under each Supplemental Indenture, provided, such direction shall not be otherwise than in accordance with law and the provisions hereof and of each Supplemental Indenture, and that the Trustee shall have the right to decline to follow any such direction which in the opinion of the Trustee would be unjustly prejudicial to Bondholders not parties to such direction.. DRAFT

Bondholders’ Direction of Proceedings. Anything herein in this Indenture to the contrary notwithstanding, the Holders owners of a the majority in principal amount of the Bonds then Outstanding Bonds (other than Subordinate Bonds) shall have the right right, by an instrument or concurrent instruments in writing executed and delivered to the Trustee, to direct the method and place of conducting all remedial proceedings to be taken by the Trustee hereunder and under each Supplemental Indenturehereunder, provided, provided that such direction shall not be otherwise than in accordance with law and or the provisions hereof and of each Supplemental this Indenture, and that the Trustee shall have the right to decline to follow any such direction which in the opinion of the Trustee would be unjustly prejudicial to Bondholders not parties to such direction.direction.‌

Bondholders’ Direction of Proceedings. Anything herein in this Indenture to the contrary notwithstanding, but subject to Section 8.03(G), the Holders of not less than a majority in aggregate principal amount of the Bonds then Outstanding Bonds shall have the right right, by an instrument or concurrent instruments in writing executed and delivered to the Trustee, to direct the method and place of conducting all remedial proceedings to be taken by the Trustee hereunder and under each Supplemental Indenturehereunder, provided, provided that such direction shall not be otherwise than in accordance with law and the provisions hereof and of each Supplemental this Indenture, and that the Trustee shall have the right to decline to follow any such direction which in the opinion of the Trustee would be unjustly prejudicial to Bondholders not parties to such directiondirection or for which it has not been provided adequate indemnity.