Control by Certificateholders. Investor Certificateholders of an aggregate Percentage of not less than 50% 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, that (a) such direction shall not be in conflict with any rule of law or with this Agreement, and (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Acc Consumer Finance Corp), Pooling and Servicing Agreement (Advanta Auto Finance Corp)
Control by Certificateholders. Investor Certificateholders of an aggregate Percentage of not less than 50% 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; PROVIDED, that (a) such direction shall not be in conflict with any rule of law or with this Agreement, and (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Eagle Finance Corp)
