Control by Majority Noteholders Sample Clauses

Control by Majority Noteholders. The Majority Noteholders shall have the right to direct the time, method and place of conducting any proceeding for exercising 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 the Trust Indenture Act or 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 or the Trust Indenture Act.

Control by Majority Noteholders. The SBA may, or the Majority Noteholders with the consent of the SBA may, direct the time, method and place of conducting any proceeding relating to the Trust or the Notes or for any remedy available to the Indenture Trustee or the Owner Trustee with respect to the Trust or exercising any trust or power conferred on the Indenture Trustee or the Owner Trustee with respect to the Trust provided that: (i) such direction shall not be in conflict with any rule of law or with this Agreement; (ii) the Indenture Trustee shall have been provided with indemnity satisfactory to it; and (iii) the Indenture Trustee or the Owner Trustee may take any other action deemed proper by the Indenture Trustee or the Owner Trustee which is not inconsistent with such direction; provided, however, that the Indenture Trustee or the Owner Trustee, as the case may be, need not take any action which it determines might be unlawful, violate the Trust Agreement, or involve it in personal liability or may be unjustly prejudicial to the Holders not so directing.

Control by Majority Noteholders. The Majority Noteholders may direct the time, method and place of conducting any proceeding relating to the Trust or the Notes or for any remedy available to the Indenture Trustee or the Owner Trustee with respect to the Trust or exercising any trust or power conferred on the Indenture Trustee or the Owner Trustee with respect to the Trust provided that:

Control by Majority Noteholders. Subject to the provisions of Section 9.04(h) and the provisions hereunder granting rights to the Required Holders, the Majority Noteholders shall have the right to direct the Indenture Trustee, in writing, to (i) take action, suffer any action to be taken or omit to take action with respect to the Security for the Senior Notes or (ii) direct the time, method and place of conducting any proceeding for any remedy available to the Indenture Trustee or exercising any trust or power conferred on the Indenture Trustee; provided that: (a) the Indenture Trustee shall not be required to act if the Indenture Trustee shall have received an Opinion of Counsel that the action so directed may not lawfully be taken or would be in conflict with this Indenture; (b) if the payment within a reasonable time to the Indenture Trustee of the reasonable costs, expenses or liabilities likely to be incurred by it in the taking, suffering or omission of such action, in the reasonable opinion of the Indenture Trustee, is not assured to the Indenture Trustee by the terms of this Indenture, the Indenture Trustee may require reasonable security or indemnity (including reasonable advances) against any such expense or liability as a condition to the taking, suffering or omission of any such action; and (c) the Indenture Trustee may take any other reasonable action deemed proper by the Indenture Trustee that is consistent with such direction; provided, however, that, subject to Section 11.01, the Indenture Trustee need not take any action that is discretionary or that it determines might impose liability on the Indenture Trustee for which it is not, in its sole discretion, adequately indemnified.

Control by Majority Noteholders. (i) such direction shall not be in conflict with any rule of law or with this Agreement; (ii) the Indenture Trustee shall have been provided with indemnity satisfactory to it; and (iii) the Indenture Trustee or the Owner Trustee may take any other action deemed proper by the Indenture Trustee or the Owner Trustee which is not inconsistent with such direction; provided, -------- however, that the Indenture Trustee or the Owner Trustee, as the case ------- may be, need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Holders not so directing.

Control by Majority Noteholders. The Majority Noteholders 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, with this Indenture or any inconsistent direction of the Majority Noteholders; and (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; provided, however, that, subject to Section 10.01, the Trustee need not take any action which it determines might (1) be unjustly prejudicial to the Noteholders not consenting or (2) subject the Trustee to liability, unless the Majority Noteholders shall have made available to the Trustee security or indemnity reasonably acceptable to the Trustee against the costs, expenses and liabilities (including reasonable fees and expenses of counsel) which might reasonably be expected to be incurred by the Trustee if the Trustee acts in compliance with the direction of the Majority Noteholders (it being agreed that an unsecured agreement of indemnity from The Prudential Insurance Company of America shall suffice as security or indemnity acceptable to the Trustee).

Control by Majority Noteholders. The Majority Noteholders shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Indenture Trustee pursuant to Section 5.01 hereof with respect to the 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 this Indenture; (b) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee that is not inconsistent with such direction; provided, however, that, subject to Section 5.01 hereof, 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 Majority Noteholders. Except as provided below, the Majority Noteholders, by a written direction to the Note Trustee, shall have the right to direct the time, method, and place of conducting any proceeding for any remedy available to the Note Trustee or exercising any trust or power conferred on the Note Trustee; provided, however, that the Note Trustee shall have the right to decline to follow any such direction (i) if the Note Trustee shall be advised by counsel that the action so directed may not lawfully be taken or (ii) if the Note Trustee shall be advised by counsel that the action so directed may involve it in personal liability unless it shall have been furnished a satisfactory indemnity or security therefor.