Common use of Control by Securityholders Clause in Contracts

Control by Securityholders. Subject to Section 5.1(e) hereof, the Holders of a majority in aggregate principal amount of the Securities of any Series at the time Outstanding 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 with respect to the Securities of such Series by this Indenture; provided that such direction shall not be otherwise than in accordance with law and the provisions of this Indenture and shall not expose the Trustee to personal liability and shall not be unduly prejudicial to the interests of Holders of the Securities of such Series not joining in the giving of said direction, it being understood that (subject to Section 5.1) the Trustee shall have no duty to ascertain whether or not such actions or forbearance are unduly prejudicial to such Holders. Nothing in this Indenture shall impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee and which is not inconsistent with such direction or directions by Securityholders.

Control by Securityholders. Subject to Section 5.1(e) hereof, the The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any Series at the time Outstanding series shall have the right to direct the time, method, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee Trustee, with respect to the Securities of such Series by this Indenture; provided that series, provided, that, (1) such direction shall not be otherwise than in accordance conflict with any rule of law and or this Indenture or involve the Trustee in personal liability, (2) subject to the provisions of this Indenture and shall not expose Section 6.01, the Trustee shall have the right to personal liability decline to follow any such direction if the Trustee in good faith and shall not having been advised by counsel shall, by a Responsible Officer or Responsible Officers of the Trustee, determine that the proceedings so directed would be unduly unjustly prejudicial to the interests of Holders of the Securities of such Series series not joining in the giving of said direction, any such direction (it being understood that (subject to Section 5.1) the Trustee shall does not have no an affirmative duty to ascertain whether or not any such actions or forbearance directions are unduly prejudicial to such Holders. Nothing in this Indenture shall impair the right of ); and (3) the Trustee in its discretion to may take any other action deemed proper by the Trustee and which is not inconsistent with such direction or directions direction. This Section 5.12 shall be in lieu of Section 316(a)(1)(A) of the Trust Indenture Act and such Section 316(a)(1)(A) is hereby expressly excluded from this Indenture, as permitted by Securityholdersthe Trust Indenture Act.

Control by Securityholders. Subject to Section 5.1(e) hereof), the Holders of a majority in aggregate principal amount of the Securities of any Series at the time Outstanding 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 with respect to the Securities of such Series by this Indenture; provided that such direction shall not be otherwise than in accordance with law and the provisions of this Indenture and shall not expose the Trustee to personal liability and shall not be unduly prejudicial to the interests of Holders of the Securities of such Series not joining in the giving of said direction, it being understood that (subject to Section ‎Section 5.1) the Trustee shall have no duty to ascertain whether or not such actions or forbearance are unduly prejudicial to such Holders. Nothing in this Indenture shall impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee and which is not inconsistent with such direction or directions by Securityholders.

Control by Securityholders. Subject to Section 5.1(e) hereof), the Holders of a majority in aggregate principal amount of the Securities of any Series at the time Outstanding 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 with respect to the Securities of such Series by this Indenture; provided that such direction shall not be otherwise than in accordance with law and the provisions of this Indenture and shall not expose the Trustee to personal liability and shall not be unduly prejudicial to the interests of Holders of the Securities of such Series not joining in the giving of said direction, it being understood that (subject to Section 5.1) the Trustee shall have no duty to ascertain whether or not such actions or forbearance are unduly prejudicial to such Holders. Nothing in this Indenture shall impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee and which is not inconsistent with such direction or directions by Securityholders.

Control by Securityholders. Subject to Section 5.1(e) hereof, the Holders of a majority in aggregate principal amount of the Securities of any Series at the time Outstanding shall have the right to direct the time, method, and place of conducting any 11924629 proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to the Securities of such Series by this Indenture; provided that such direction shall not be otherwise than in accordance with law and the provisions of this Indenture and shall not expose the Trustee to personal liability and shall not be unduly prejudicial to the interests of Holders of the Securities of such Series not joining in the giving of said direction, it being understood that (subject to Section 5.1) the Trustee shall have no duty to ascertain whether or not such actions or forbearance are unduly prejudicial to such Holders. Nothing in this Indenture shall impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee and which is not inconsistent with such direction or directions by Securityholders.