Common use of Control by Controlling Class Clause in Contracts

Control by Controlling Class. If the Indenture Trustee is the Controlling Party, the Holders of a majority of the Outstanding Amount of the Controlling Class 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 Notes 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) the Indenture Trustee shall not sell or liquidate the Trust Estate except pursuant to the express terms of Section 5.04(a)(iv); and (iii) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee that is not inconsistent with such direction. Notwithstanding the rights of Noteholders set forth in this Section, subject to Section 6.01, the Indenture Trustee need not take any action that it determines might involve it in liability or might materially adversely affect the rights of any Noteholders not consenting to such action.

Control by Controlling Class. If the Indenture Trustee is the Controlling Party, the Holders of a majority of the Outstanding Amount of the Controlling Class 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 Notes 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) the Indenture Trustee shall not sell or liquidate the Trust Estate except pursuant to the express terms of Section 5.04(a)(iv); and (iii) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee that is not inconsistent with such direction. Notwithstanding the rights of Noteholders set forth in this Section, subject to Section 6.01, the Indenture Trustee need not take any action that it determines might involve it in liability or might materially adversely affect the rights of any Noteholders not consenting to such action.

Control by Controlling Class. If the Indenture Trustee is the Controlling PartyExcept as expressly provided otherwise in this Indenture, for so long as any Notes are outstanding, the Holders Noteholders of Notes evidencing not less than a majority of the Outstanding Amount of the Controlling Class 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 Notes or exercising any trust or power conferred on the Indenture Trustee; provided that: (ia) such direction shall not be in conflict with any rule of law or with this Indenture; (iib) the Indenture Trustee shall not sell or liquidate the Indenture Trust Estate except pursuant to the express terms of Section 5.04(a)(iv5.4(a); and (iiic) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee that is not inconsistent with such direction. Notwithstanding the rights of Noteholders set forth in this SectionSection 5.11, subject to Section 6.016.1, the Indenture Trustee need not take any action that it determines might involve expose it in to personal liability or might materially adversely affect the rights of any Noteholders not consenting to such action.