Common use of Control of Remedies by Noteholders Clause in Contracts

Control of Remedies by Noteholders. Notwithstanding any other provision of this Section 8, the holders of at least 64% in principal amount of the Notes from time to time outstanding shall have the right, by an instrument in writing delivered to the Indenture Trustee, to determine which of the remedies herein set forth shall be adopted and to direct the time, method and place of conducting all proceedings to be taken under the provisions of this Indenture for the enforcement thereof or of the Notes; provided, however, that the Indenture Trustee shall have the right to decline to follow any such direction if the Indenture Trustee shall be advised by counsel that the action or proceeding so directed may not lawfully be taken or would be unjustly prejudicial to holders of Notes not parties to such direction.

Control of Remedies by Noteholders. Notwithstanding any other provision of this Section 86, the holders of at least 6466-2/3% in principal amount of the Notes from time to time outstanding shall have the right, by an instrument in writing delivered to the Indenture Trustee, to determine which of the remedies herein set forth shall be adopted and to direct the time, method and place of conducting all proceedings to be taken under the provisions of this Indenture for the enforcement thereof or of the Notes; provided, however, that the Indenture Trustee shall have the right to decline to follow any such direction if the Indenture Trustee shall be advised by counsel that the action or proceeding so directed may not lawfully be taken or would be unjustly prejudicial to holders of Notes not parties to such direction.

Control of Remedies by Noteholders. Notwithstanding any other provision of this Section 86, the holders of at least 6451% in principal amount of the Notes from time to time outstanding shall have the right, by an instrument in writing delivered to the Indenture TrusteeTrustees, to determine which of the remedies herein set forth shall be adopted and to direct the time, method and place of conducting all proceedings to be taken under the provisions of this Indenture or any of the Mortgages for the enforcement thereof or of the Notes; provided, however, that the Indenture Trustee Trustees shall have the right to decline to follow any such direction if the Indenture Trustee Trustees shall be advised by counsel an Opinion of Counsel that the action or proceeding so directed may not lawfully be taken or would be unjustly prejudicial to holders of Notes not parties to such direction.