Common use of Control by Investor Noteholders Clause in Contracts

Control by Investor Noteholders. The Holders of a Majority in Interest of each Series of Outstanding Investor Notes 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 Investor Notes or exercising any trust or power conferred on the Indenture Trustee; provided that (a) such direction shall not be in conflict with any rule of law or with the Indenture; (b) if an Event of Default is with respect to less than all Series of Outstanding Investor Notes, then the Indenture Trustee’s rights and remedies shall be limited to the rights and remedies pertaining only to those Series of Investor Notes with respect to which such Event of Default has occurred and the Indenture Trustee shall exercise such rights and remedies at the direction of the Holders of a Majority in Interest of all such Series of Investor Notes; (c) subject to the express terms of Section 9.4, any direction to the Indenture Trustee to sell or liquidate the Issuer Assets shall be by the Holders of Investor Notes representing not less than 100% of the Aggregate Invested Amount; (d) if the conditions set forth in Section 9.5 have been satisfied and the Indenture Trustee elects to retain the Issuer Assets pursuant to such Section, then any direction to the Indenture Trustee by Holders of Investor Notes representing less than 100% of the Aggregate Invested Amount to sell or liquidate the Issuer Assets shall be of no force and effect; (e) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee that is not inconsistent with such direction; and (f) such direction shall be in writing; provided, further, that, subject to Section 10.1, 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 Investor Noteholders not consenting to such action.

Control by Investor Noteholders. The Holders of a Majority in Interest of each Series of Outstanding Investor Notes 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 Investor Notes or exercising any trust or power conferred on the Indenture Trustee; provided that (a) 1. such direction shall not be in conflict with any rule of law or with the this Indenture; (b) 2. if an Event of Default is with respect to less than all Series of Outstanding Investor Notes, then the Indenture Trustee’s 's rights and remedies shall be limited to the rights and remedies pertaining only to those Series of Investor Notes with respect to which such Event of Default has occurred and the Indenture Trustee shall exercise such rights and remedies at the direction of the Holders of a Majority in Interest of all such Series of Investor Notes; (c) 3. subject to the express terms of Section 9.4, any direction to the Indenture Trustee to sell or liquidate the Issuer Assets shall be by the Holders of Investor Notes representing not less than 100% of the Aggregate Invested Amount; (d) 4. if the conditions set forth in Section 9.5 have been satisfied and the Indenture Trustee elects to retain the Issuer Assets pursuant to such Section, then any direction to the Indenture Trustee by Holders of Investor Notes representing less than 100% of the Aggregate Invested Amount to sell or liquidate the Issuer Assets shall be of no force and effect; (e) 5. the Indenture Trustee may take any other action deemed proper by the Indenture Trustee that is not inconsistent with such direction; and (f) 6. such direction shall be in writing; provided, further, that, subject to Section 10.1, 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 Investor Noteholders not consenting to such action.

Control by Investor Noteholders. The Holders of a Majority in Interest of each Series of Outstanding Investor Notes 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 Investor Notes or exercising any trust or power conferred on the Indenture Trustee; provided that (a) such direction shall not be in conflict with any rule of law or with the this Indenture; (b) if an Event of Default is with respect to less than all Series of Outstanding Investor Notes, then the Indenture Trustee’s 's rights and remedies shall be limited to the rights and remedies pertaining only to those Series of Investor Notes with respect to which such Event of Default has occurred and the Indenture Trustee shall exercise such rights and remedies at the direction of the Holders of a Majority in Interest of all such Series of Investor Notes; (c) subject to the express terms of Section 9.4, any direction to the Indenture Trustee to sell or liquidate the Issuer Assets shall be by the Holders of Investor Notes representing not less than 100% of the Aggregate Invested Amount; (d) if the conditions set forth in Section 9.5 have been satisfied and the Indenture Trustee elects to retain the Issuer Assets pursuant to such Section, then any direction to the Indenture Trustee by Holders of Investor Notes representing less than 100% of the Aggregate Invested Amount to sell or liquidate the Issuer Assets shall be of no force and effect; (e) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee that is not inconsistent with such direction; and (f) such direction shall be in writing; provided, further, that, subject to Section 10.1, 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 Investor Noteholders not consenting to such action.