Common use of Control by Owners Clause in Contracts

Control by Owners. The Certificate Insurer or the Owners of a majority of the Voting Rights represented by the Certificates then Outstanding with the consent of the Certificate Insurer may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.03 and Section 8.20 hereof, provided that: (1) such direction shall not be in conflict with any rule of law or with this Agreement; (2) the Trustee shall have been provided with indemnity satisfactory to it; and (3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction (and which does not require Certificate Insurer consent or direction pursuant to the terms of this Agreement); provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.

Control by Owners. The Certificate Insurer or the Owners of a majority of the Voting Rights represented by the Certificates then Outstanding with the consent of the Certificate 7Certificate Insurer may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.03 and Section 8.20 hereof, provided that: (1) such direction shall not be in conflict with any rule of law or with this Agreement; (2) the Trustee shall have been provided with indemnity satisfactory to it; and (3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction (and which does not require Certificate Insurer consent or direction pursuant to the terms of this Agreement); provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.

Control by Owners. The Certificate Insurer or the Owners of a majority of the Voting Rights Percentage Interests represented by the Certificates then Outstanding with the consent of the Certificate Insurer may direct the time, method and place of conducting any proceeding for any remedy available to the Grantor Trustee with respect to the Certificates or exercising any trust or power conferred on the Grantor Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.03 and Section 8.20 hereof6.03, provided that: (1) such direction shall not be in conflict with any rule of law or with this Agreement; (2) the Grantor Trustee shall have been provided with indemnity satisfactory to it; and (3) the Grantor Trustee may take any other action deemed proper by the Grantor Trustee, as the case may be, which is not inconsistent with such direction (and which does not require Certificate Insurer consent or direction pursuant to the terms of this Agreement)direction; provided, however, that the Grantor Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.