Common use of Exclusion of Notes Held By or For the Corporation Clause in Contracts

Exclusion of Notes Held By or For the Corporation. In determining whether the Holders of the requisite Principal Amount of Notes Outstanding have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Notes owned by the Corporation shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, or waiver, only Notes which the Trustee knows to be so owned shall be disregarded.

Appears in 6 contracts

Samples: Education Loans Inc /De, Participation Agreement (Education Loans Inc /De), Please Insert Social Security (Education Loans Inc /De)

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Exclusion of Notes Held By or For the Corporation. In ------------------------------------------------- determining whether the Holders of the requisite Principal Amount of Notes Outstanding have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Notes owned by the Corporation shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, or waiver, only Notes which the Trustee knows to be so owned shall be disregarded.

Appears in 1 contract

Samples: Education Loans Inc /De

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