Common use of Control by Transition Bondholders Clause in Contracts

Control by Transition Bondholders. The Holders of a majority of the Outstanding Amount of the Transition Bonds of all Series (or, if less than all Series or Classes are affected, the affected Series or Class or Classes) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Bond Trustee with respect to the Transition Bonds of such Series or Class or Classes or exercising any trust or power conferred on the Bond Trustee with respect to such Series or Class or Classes; provided that (i) such direction shall not be in conflict with any rule of law or with this Indenture; (ii) subject to the express terms of Section 5.04, any direction to the Bond Trustee to sell or liquidate the Collateral shall be by the Holders of Transition Bonds representing not less than 100% of the Outstanding Amount of the Transition Bonds of all Series; (iii) if the conditions set forth in Section 5.05 have been satisfied and the Bond Trustee elects to retain the Collateral pursuant to such Section and not sell or liquidate the same, then any direction to the Bond Trustee by Holders of Transition Bonds representing less than 100% of the Outstanding Amount of the Transition Bonds of all Series to sell or liquidate the Collateral shall be of no force and effect; and (iv) the Bond Trustee may take any other action deemed proper by the Bond Trustee that is not inconsistent with such direction; provided, however, that, subject to Section 6.01, the Bond Trustee need not take any action that it determines might involve it in liability or might materially adversely affect the rights of any Transition Bondholders not consenting to such action.

Control by Transition Bondholders. The Holders of a majority of the Outstanding Amount of the Transition Bonds of all Series (or, if less than all Series or Classes are affected, the affected Series or Class or Classes) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Bond Trustee with respect to the Transition Bonds of such Series or Class or Classes or exercising any trust or power conferred on the Bond Trustee with respect to such Series or Class or Classes; provided that (ia) such direction shall not be in conflict with any rule of law or with this Indenture; (iib) subject to the express terms of Section 5.04, any direction to the Bond Trustee to sell or liquidate the Collateral shall be by the Holders of Transition Bonds representing not less than one hundred percent (100% %) of the Outstanding Amount of the Transition Bonds of all Series; (iiic) if the conditions set forth in Section 5.05 have been satisfied and the Bond Trustee elects to retain the Collateral pursuant to such Section and elects not to sell or liquidate the same, then any direction to the Bond Trustee by Holders of Transition Bonds representing less than one hundred percent (100% %) of the Outstanding Amount of the Transition Bonds of all Series to sell or liquidate the Collateral shall be of no force and effect; and (ivd) the Bond Trustee may take any other action deemed proper by the Bond Trustee that is not inconsistent with such direction; provided, however, that, subject to Section 6.01, the Bond Trustee need not take any action that it determines might involve it in liability or for which it reasonably believes it will not be adequately indemnified against the costs, expenses and liabilities which might be incurred by it in complying with this request. The Trustee also need not take any action that it determines might materially and adversely affect the rights of any Transition Bondholders not consenting to such action.

Control by Transition Bondholders. The Holders of a majority of the Outstanding Amount of the Transition Bonds of all Series (or, if less than all Series or Classes are affected, the affected Series or Class or Classes) ), voting together as a single class, shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Bond Trustee with respect to the Transition Bonds of such Series or Class or Classes or exercising any trust or power conferred on the Bond Trustee with respect to such Series or Class or Classes; provided that (ia) such direction shall not be in conflict with any rule of law or with this Indenture; (iib) subject to the express terms of Section 5.04, any direction to the Bond Trustee to sell or liquidate the Collateral shall be by the Holders of Transition Bonds representing not less than 100% one hundred percent of the Outstanding Amount of the Transition Bonds of all Series; (iiic) if the conditions set forth in Section 5.05 have been satisfied and the Bond Trustee elects to retain the Collateral pursuant to such Section 5.05 and elects not to sell or liquidate the same, then any direction to the Bond Trustee by Holders of Transition Bonds representing less than 100% one hundred percent of the Outstanding Amount of the Transition Bonds of all Series to sell or liquidate the Collateral shall be of no force and effect; and (ivd) the Bond Trustee may take any other action deemed proper by the Bond Trustee that is not inconsistent with such direction; provided, however, that, subject to Section 6.01, the Bond Trustee need not take any action that it determines might involve it in liability or for which it reasonably believes it will not be indemnified to its reasonable satisfaction against the costs, expenses and liabilities which might be incurred by it in complying with this request. The Trustee also need not take any action that it determines might materially and adversely affect the rights of any Transition Bondholders not consenting to such action.

Control by Transition Bondholders. The Holders of a majority of the Outstanding Amount of the Transition Bonds of all Series (or, if less than all Series or Classes are affected, the affected Series or Class or Classes) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Bond Trustee with respect to the Transition Bonds of such Series or Class or Classes or exercising any trust or power conferred on the Bond Trustee with respect to such Series or Class or Classes; provided that (i) such direction shall not be in conflict with any rule of law or with this Indenture; (ii) subject to the express terms of Section 5.04, any direction to the Bond Trustee to sell or liquidate the Collateral shall be by the Holders of Transition Bonds representing not less than 100% of the Outstanding Amount of the Transition Bonds of all Series; (iii) if the conditions set forth in Section 5.05 have been satisfied and the Bond Trustee elects to retain the Collateral pursuant to such Section and elects not to sell or liquidate the same, then any direction to the Bond Trustee by Holders of Transition Bonds representing less than 100% of the Outstanding Amount of the Transition Bonds of all Series to sell or liquidate the Collateral shall be of no force and effect; and (iv) the Bond Trustee may take any other action deemed proper by the Bond Trustee that is not inconsistent with such direction; provided, however, that, subject to Section 6.01, the Bond Trustee need not take any action that it determines might involve it in liability or for which it reasonably believes it will not be adequately indemnified against the costs, expenses and liabilities which might be incurred by it in complying with this request. The Trustee also need not take any action that it determines might materially and adversely affect the rights of any Transition Bondholders not consenting to such action.

Control by Transition Bondholders. The Holders of a majority of the Outstanding Amount of the Transition Bonds of all Series (or, if less than all Series or Classes are affected, the affected Series or Class or Classes) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Bond Trustee with respect to the Transition Bonds of such Series or Class or Classes or exercising any trust or power conferred on the Bond Trustee with respect to such Series or Class or Classes; provided that (i) such direction shall not be in conflict with any rule of law or with this Indenture; (ii) subject to the express terms of Section 5.04, any direction to the Bond Trustee to sell or liquidate the Collateral Trust Estate shall be by the Holders of Transition Bonds representing not less than 100% of the Outstanding Amount of the Transition Bonds of all Series; (iii) if the conditions set forth in Section 5.05 have been satisfied and the Bond Trustee elects to retain the Collateral Trust Estate pursuant to such Section and elects not to sell or liquidate the same, then any direction to the Bond Trustee by Holders of Transition Bonds representing less than 100% of the Outstanding Amount of the Transition Bonds of all Series to sell or liquidate the Collateral Trust Estate shall be of no force and effect; and (iv) the Bond Trustee may take any other action deemed proper by the Bond Trustee that is not inconsistent with such direction; provided, however, that, subject to Section 6.01, the Bond Trustee need not take any -------- ------- action that it determines might involve it in liability for which it reasonably believes it will not be indemnified to its reasonable satisfaction against the costs, expenses and liabilities which might be incurred by it in complying with this request. The Trustee also need not take any action that it determines might involve it in liability or might materially and adversely affect the rights of any Transition Bondholders not consenting to such action.

Control by Transition Bondholders. The Majority Holders (or, if less than all Series or Tranches are affected, the Holders of a majority of the Outstanding Amount of the Transition Bonds of all Series (or, if less than all Series or Classes are affected, the affected Series or Class Tranche or ClassesTranches) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Bond Trustee with respect to the Transition Bonds (or the Transition Bonds of such -40- affected Series or Class Tranche or Classes Tranches) or exercising any trust or power conferred on the Bond Trustee with respect to the Transition Bonds (or the Transition Bonds of such affected Series or Class Tranche or ClassesTranches); provided that (i) such direction shall not be in conflict with any rule of law or with this Indenture; (ii) subject to the express terms of Section 5.04, any direction to the Bond Trustee to sell or liquidate the Collateral Trust Estate shall be by the Holders of Transition Bonds representing not less than 100% of the Outstanding Amount of the Transition Bonds of all Series; (iii) if the conditions set forth in Section 5.05 have been satisfied and the Bond Trustee elects to retain the Collateral Series Trust Estate securing such Series pursuant to such Section and elects not to sell or liquidate the same, then any direction to the Bond Trustee by Holders of Transition Bonds representing less than 100% of the Outstanding Amount of the Transition Bonds of all affected Series to sell or liquidate the Collateral such Series Trust Estate shall be of no force and effect; and (iv) the Bond Trustee may take any other action deemed proper by the Bond Trustee that is not inconsistent with such direction; provided, however, that, subject to Section 6.01, the Bond Trustee need not take any action that it determines might involve it in liability or for which it reasonably believes it will not be indemnified to its reasonable satisfaction against the costs, expenses and liabilities which might be incurred by it in complying with this request. The Trustee also need not take any action that it determines might materially and adversely affect the rights of any Transition Bondholders not consenting to such action.

Control by Transition Bondholders. The Holders of a majority of the Outstanding Amount of the Transition Bonds of all Series (or, if less than all Series or Classes are affected, the affected Series or Class or Classes) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Bond Trustee with respect to the Transition Bonds of such Series or Class or Classes or exercising any trust or power conferred on the Bond Trustee with respect to such Series or Class or Classes; provided that (i) such direction shall not be in conflict with any rule of law or with this Indenture; (ii) subject to the express terms of Section 5.04, any direction to the Bond Trustee to sell or liquidate the Collateral shall be by the Holders of Transition Bonds representing not less than 100% of the Outstanding Amount of the Transition Bonds of all Series; (iii) if the conditions set forth in Section 5.05 have been satisfied and the Bond Trustee elects to retain the Collateral pursuant to such Section and not no sell or liquidate the same, then any direction to the Bond Trustee by Holders of Transition Bonds representing less than 100% of the Outstanding Amount of the Transition Bonds of all Series to sell or liquidate the Collateral shall be of no force and effect; and (iv) the Bond Trustee may take any other action deemed proper by the Bond Trustee that is not inconsistent with such direction; provided, however, that, subject to Section 6.01, the Bond Trustee need not take any action that it determines might involve it in liability or for which it reasonably believes it will not be adequately indemnified against the costs, expenses and liabilities which might be incurred by it in complying with this request. The Trustee also need not take any action that it determines might materially and adversely affect the rights of any Transition Bondholders not consenting to such action.

Control by Transition Bondholders. The Holders of a majority of the Outstanding Amount of the Transition Bonds of all Series (or, if less than all Series or Classes are affected, of the affected Series or Class or Classes) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Bond Trustee with respect to the Transition Bonds of such Series or Class or Classes or exercising any trust or power conferred on the Bond Trustee with respect to such Series or Class or Classes; provided that: (ia) such direction shall not be in conflict with any rule of law or with this Indenture; (iib) subject to the express terms of Section 5.04, any direction to the Bond Trustee to sell or liquidate the Collateral shall be by the Holders of Transition Bonds representing not less than 100% of the Outstanding Amount of the Transition Bonds of all Series; (iiic) if the conditions set forth in Section 5.05 have been satisfied and the Bond Trustee elects to retain the Collateral pursuant to such Section and elects not to sell or liquidate the same, then any direction to the Bond Trustee by Holders of Transition Bonds representing less than 100% of the Outstanding Amount of the Transition Bonds of all Series to sell or liquidate the Collateral shall be of no force and effect; and (ivd) the Bond Trustee may take any other action deemed proper by the Bond Trustee that is not inconsistent with such direction; provided, howeverfurther, that, subject to Section 6.01, the Bond Trustee need not take any action that it determines might involve it in liability or for which it reasonably believes it will not be adequately indemnified against the costs, expenses and liabilities that might be incurred by it in complying with this request. The Trustee also need not take any action that it determines might materially and adversely affect the rights of any Transition Bondholders not consenting to such action.

Control by Transition Bondholders. The Holders of a majority of the Outstanding Amount of the Transition Bonds of all Series (or, if less than all Series or Classes are affected, of the affected Series or Class or Classes) shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Bond Trustee with respect to the Transition Bonds of such Series or Class or Classes or exercising any trust or power conferred on the Bond Trustee with respect to such Series or Class or Classes; provided that: (ia) such direction shall not be in conflict with any rule of law or with this Indenture; (iib) subject to the express terms of Section 5.04, any direction to the Bond Trustee to sell or liquidate the Collateral shall be by the Holders of Transition Bonds representing not less than 100% of the Outstanding Amount of the Transition Bonds of all Series; (iiic) if the conditions set forth in Section 5.05 have been satisfied and the Bond Trustee elects to retain the Collateral pursuant to such Section 5.05 and elects not to sell or liquidate the same, then any direction to the Bond Trustee by Holders of Transition Bonds representing less than 100% of the Outstanding Amount of the Transition Bonds of all Series to sell or liquidate the Collateral shall be of no force and effect; and (ivd) the Bond Trustee may take any other action deemed proper by the Bond Trustee that is not inconsistent with such direction; provided, howeverfurther, that, subject to Section 6.01, the Bond Trustee need not take any action that it determines might involve it in liability or for which it reasonably believes it will not be reasonably satisfactorily indemnified against the costs, expenses and liabilities that might be incurred by it in complying with this request. The Trustee also need not take any action that it determines might materially and adversely affect the rights of any Transition Bondholders not consenting to such action.