Common use of Control by Holders of Securities Clause in Contracts

Control by Holders of Securities. Subject to Section 6.3, the Holders of a majority in principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and (3) the Trustee need not take any action that might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 20 contracts

Samples: Indenture (Solectron Corp), Indenture (Hewitt Associates Inc), Indenture (Solectron Corp)

AutoNDA by SimpleDocs

Control by Holders of Securities. Subject to Section 6.3, the Holders of a majority in principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and (3) the Trustee need not take any action that which might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 9 contracts

Samples: Indenture (Mercury Interactive Corporation), Indenture (Juniper Networks Inc), Indenture (Oni Systems Corp)

Control by Holders of Securities. Subject to Section 6.36.02(v), the Holders of a majority in principal amount of the Outstanding Securities of any series 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 TrusteeTrustee with respect to the Securities of such series, provided that (1i) such direction shall not be in conflict with any rule of law or with this Indenture, and, (2ii) the Trustee may take any other action deemed proper by the Trustee which that is not inconsistent with such direction, and (3iii) the Trustee need not take any action that might involve it in personal liability or be unjustly prejudicial to the Holders of Securities of such series not consenting.

Appears in 5 contracts

Samples: Indenture (Carlyle Secured Lending, Inc.), Indenture (Garrison Capital Inc.), Indenture (Horizon Technology Finance Corp)

Control by Holders of Securities. Subject to Section 6.3, the Holders of a majority in aggregate principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and (3) the Trustee need not take any action that might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consentingconsenting or that it in good faith believes would otherwise be contrary to applicable law.

Appears in 4 contracts

Samples: Indenture (Alesco Financial Inc), Indenture (Privatebancorp, Inc), Indenture (Collegiate Pacific Inc)

Control by Holders of Securities. Subject to Section 6.36.3(6), the Holders of a majority in aggregate principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and; (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and; (3) the Trustee need not take any action that which might involve it result in personal liability or be unjustly prejudicial to the Holders of Securities not consenting; and (4) such direction shall be presented by such Holders to the Trustee in a timely manner.

Appears in 3 contracts

Samples: Indenture (Cypress Semiconductor Corp /De/), Indenture (Vantive Corp), Indenture (Veritas Software Corp)

Control by Holders of Securities. Subject to Section 6.3, the Holders of a majority in aggregate principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and (3) the Trustee need not take any action that which might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 1 contract

Samples: Indenture (Amerisource Health Corp/De)

Control by Holders of Securities. Subject to Section 6.3, the The Holders of a majority in principal amount of the Outstanding Securities 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 TrusteeTrustee with respect to the Securities, provided that: (1) such direction shall not be in conflict with any rule of law or with this Indenture, and; (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, ; and (3) the Trustee need not take any action that which might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 1 contract

Samples: Indenture (Catalyst Biosciences, Inc.)

Control by Holders of Securities. Subject to Section 6.3, the Holders of a majority in principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and, (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and (3) the Trustee need not take any action that might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 1 contract

Samples: Indenture (Epix Medical Inc)

Control by Holders of Securities. Subject to Section 6.3, the Holders of a majority in principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. In the event of such direction, and (3) the Trustee need not take any action that might involve it in personal liability shall have no duty to ascertain whether such actions or be unjustly forbearances are unduly prejudicial to the Holders of Securities not consentingany Holders.

Appears in 1 contract

Samples: Indenture (Medarex Inc)

Control by Holders of Securities. Subject to Section 6.3, the Holders of a majority in principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and (3) the Trustee need not take any action that might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 1 contract

Samples: Indenture (Priceline Com Inc)

AutoNDA by SimpleDocs

Control by Holders of Securities. Subject to Section 6.3, the The Holders of a majority in principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and (3) the Trustee need not take any action that which might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 1 contract

Samples: Indenture (Amdocs LTD)

Control by Holders of Securities. Subject to Section 6.3, the The Holders of a majority in principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and (3) the Trustee need not take any action that which might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 1 contract

Samples: Indenture (Affiliated Computer Services Inc)

Control by Holders of Securities. Subject to Section 6.3, the -------------------------------- Holders of a majority in principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and (3) the Trustee need not take any action that which might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 1 contract

Samples: Indenture (Exodus Communications Inc)

Control by Holders of Securities. Subject to Section 6.3, the Holders of a majority in principal amount of the Outstanding Securities 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: (1) such direction shall not be in conflict with any rule of law or with this Indenture, ; and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, ; and (3) the Trustee need not take any action that might involve it in personal liability liability, unless the Trustee is offered indemnity or security satisfactory to it, or that the Trustee determines in good-faith would be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 1 contract

Samples: Indenture (Reliant Resources Inc)

Control by Holders of Securities. Subject to Section 6.36.3(5), the Holders of a majority in aggregate principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and; (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and; (3) the Trustee need not take any action that which might involve it result in personal liability or be unjustly prejudicial to the Holders of Securities not consenting; and (4) such direction shall be presented by such Holders to the Trustee in a timely manner.

Appears in 1 contract

Samples: Indenture (Orbital Sciences Corp /De/)

Control by Holders of Securities. Subject to Section 6.36.03, the Holders of a majority in principal amount of the Outstanding Securities 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 (1) such direction shall not be in conflict with any rule of law or with this Indenture, and (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and (3) the Trustee need not take any action that which might involve it in personal liability or be unjustly prejudicial to the Holders of Securities not consenting.

Appears in 1 contract

Samples: Indenture (Monmouth Real Estate Investment Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!