Control by Bondholders Sample Clauses

Control by Bondholders. The Holders of a majority of the aggregate Bond Principal Balances of Bonds shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee with respect to the Bonds or exercising any trust or power conferred on the Indenture Trustee; provided that:
AutoNDA by SimpleDocs
Control by Bondholders. The holders of a majority in aggregate principal amount of the Bonds at the time Outstanding, determined in accordance with Section 8.01, shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee; provided, however, that such direction shall not be in conflict with any rule of law or with this Indenture. Subject to the provisions of Section 7.01, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee or its counsel, determine that the proceeding so directed would involve the Trustee in personal liability. The holders of a majority in aggregate principal amount of the Bonds at the time Outstanding affected thereby, determined in accordance with Section 8.01, may on behalf of the holders of all of the Bonds waive any past default in the performance of any of the covenants contained herein and its consequences, except a default in the payment of the principal of (or premium, if any) or interest on any of the Bonds as and when the same shall become due by the terms of such Bonds otherwise than by acceleration (unless such default has been cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with Section 6.01(c)) or in respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the consent of the holder of each Outstanding Bond affected. Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the Trustee and the holders of the Bonds shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon.
Control by Bondholders. The Holders of Bonds representing more than 50% of the Bond Balance of the Outstanding Bonds on the applicable Record Date shall, with the consent of the Bond Insurer, have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee or exercising any trust or power conferred on the Indenture Trustee; provided that:
Control by Bondholders. The Holders of a majority of the aggregate Bond Principal Balances of the Class A-1 Bonds, Class M Bonds and Class B Bonds and a majority of the Notional Amount of the Class A-IO Bonds shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee with respect to the Bonds or exercising any trust or power conferred on the Indenture Trustee; provided that:
Control by Bondholders. The Holders of a majority of the Outstanding Amount of the Bonds (or, if less than all Tranches are affected, the affected Tranche or Tranches) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Bond Trustee with respect to the Bonds of such Tranche or Tranches or exercising any trust or power conferred on the Bond Trustee with respect to such Tranche or Tranches; provided, however, that
Control by Bondholders. Unless otherwise provided in the related Terms Indenture, the Holders of Bonds of any Series representing more than 50% of the aggregate Principal Amount of such Series shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee, or exercising any trust or power conferred on the Indenture Trustee; provided, that:
Control by Bondholders. The Holders of a majority of the Outstanding Amount of the Bonds (or, if less than all Classes are affected, the affected Class or Classes) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Trustee with respect to the Bonds or the Bonds of such Class or Classes or exercising any trust or power conferred on the Trustee with respect to the Bonds or the Bonds of such Class or Classes; provided, that
AutoNDA by SimpleDocs
Control by Bondholders. With respect to acceleration of the principal amount of the Bonds, the Holders of Bonds representing more than fifty percent (50%) of the then Aggregate Outstanding Principal Amount of the Bonds shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Trustee hereunder or exercising any trust or power conferred on the Trustee; provided that:
Control by Bondholders. The Holders of a majority in principal balance of the Outstanding Bonds of each Series affected (voting as one Class with respect to each Series) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Trustee with respect to the Bonds of such Series or exercising any trust or power conferred on the Trustee with respect to such Series; provided that:
Control by Bondholders. If an Event of Default is declared by or at the direction of the Holders of Senior Bonds of a Series pursuant to Section 5.2(A) above, the Holders of Bonds representing more than 50% of the Aggregate Current Principal Amount of the Outstanding Senior Bonds of such Series shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Trustee with respect to such Series or exercising any trust or power conferred on the Trustee with respect to such Series. If an Event of Default is declared by or at the direction of the Holders of the Highest Priority Junior Class of a Series pursuant to Section 5.2(B) above (and subject to the conditions therein contained), the Holders of the Highest Priority Junior Class of such Series representing more than 50% of the Aggregate Current Principal Amount of such Class shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Trustee with respect to such Series or exercising any trust or power conferred on the Trustee. Any direction given by the Holders of Senior Bonds or Junior Bonds pursuant to this Section 5.13 shall be subject to the following conditions:
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!