Common use of Control by Bondholders Clause in Contracts

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: (i) such direction shall not be in conflict with any rule of law or with this Indenture; (ii) any direction to the Indenture Trustee to sell or liquidate the Trust Estate shall be by Holders of Bonds representing not less than 100% of the Bond Principal Balances of the Bonds; and (iii) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee that is not inconsistent with such direction of the Holders of Bonds representing a majority of the Bond Principal Balances of the Bonds. Notwithstanding the rights of Bondholders set forth in this Section 5.11 the Indenture Trustee need not take any action that it determines might involve it in liability.

Control by Bondholders. The Holders of a majority of the aggregate Bond Principal Balances of the 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 right conferred on the Indenture Trustee; provided that: (i) such direction shall not be in conflict with any rule of law or with this Indenture; (ii) any direction to the Indenture Trustee to sell or liquidate the Trust Estate shall be by Holders of Bonds representing not less than 10050.01% of the Bond Principal Balances of the Bonds; and; (iii) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee that is not inconsistent with such direction of the Holders of Bonds representing a majority of the aggregate Bond Principal Balances of the Bonds. Notwithstanding the rights of Bondholders set forth in this Section 5.11 5.11, the Indenture Trustee need not take any action that it determines might involve it in liability.

Control by Bondholders. The Holders of a majority of the aggregate Bond Principal Balances of the 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: (i) such direction shall not be in conflict with any rule of law or with this Indenture; (ii) any direction to the Indenture Trustee to sell or liquidate the Trust Estate shall be by Holders of Bonds representing not less than 10050.01% of the Bond Principal Balances of the Bonds; and; (iii) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee that is not inconsistent with such direction of the Holders of Bonds representing a majority of the aggregate Bond Principal Balances of the Bonds. Notwithstanding the rights of Bondholders set forth in this Section 5.11 5.11, the Indenture Trustee need not take any action that it determines might involve it in liability.