Common use of Failure of HVF or the Collateral Agent to Take Action Clause in Contracts

Failure of HVF or the Collateral Agent to Take Action. If (i) HVF or the Collateral Agent shall have failed, within 10 Business Days of receiving the direction of the Trustee, to take commercially reasonable action to accomplish directions of the Trustee given pursuant to clauses (b) or (c) above, (ii) HVF or the Collateral Agent refuses to take such action or (iii) the Trustee reasonably determines that such action must be taken immediately, the Trustee may (and at the written direction of the Required Noteholders of the affected Series of Notes (with respect to any Limited Liquidation Event of Default) or the Requisite Investors (with respect to any Liquidation Event of Default) shall), take such previously directed action (and any related action as permitted under this Indenture thereafter determined by the Trustee to be appropriate without the need under this provision or any other provision under this Indenture to direct HVF or the Collateral Agent to take such action). The Trustee may direct the Collateral Agent to institute legal proceedings for the appointment of a receiver or receivers to take possession of the HVF Vehicles pending the sale thereof pursuant either to the powers of sale granted by this Indenture, the Collateral Agency Agreement and the other Related Documents or to a judgment, order or decree made in any judicial proceeding for the foreclosure or involving the enforcement of this Indenture.

Failure of HVF or the Collateral Agent to Take Action. If (i) HVF or the Collateral Agent shall have failed, within 10 Business Days of receiving the direction of the Trustee, to take commercially reasonable action to accomplish directions of the Trustee given pursuant to clauses (b) or (c) above, (ii) HVF or the Collateral Agent refuses to take such action or (iii) the Trustee reasonably determines that such action must be taken immediately, the Trustee may (and at the written direction of the Required Noteholders of the affected Series of Notes (with respect to any Limited Liquidation Event of Default) or the Requisite Investors (with respect to any Liquidation Event of Default) shall), ) take such previously directed action (and any related action as permitted under this Indenture thereafter determined by the Trustee to be appropriate without the need under this provision or any other provision under this Indenture to direct HVF or the Collateral Agent to take such action). The Trustee may direct the Collateral Agent to institute legal proceedings for the appointment of a receiver or receivers to take possession of the HVF Vehicles pending the sale thereof pursuant either to the powers of sale granted by this Indenture, the Collateral Agency Agreement and the other Related Documents or to a judgment, order or decree made in any judicial proceeding for the foreclosure or involving the enforcement of this Indenture.

Failure of HVF or the Collateral Agent to Take Action. If If (i) HVF or the Collateral Agent shall have failed, within 10 ten (10) Business Days of receiving the direction of the Trustee or the HVF II Trustee, to take commercially reasonable action to accomplish directions of the Trustee given pursuant to clauses (ba) or (cb) above, , (ii) HVF or the Collateral Agent refuses to take such action or action, or (iii) subject to Section 10.2(e), the Trustee reasonably determines that such action must be taken immediately, then the Trustee may (and at the written direction of the Required Noteholders of HVF II Group I Requisite Investors (in the affected Series of Notes (case where such HVF II Group I Liquidation Event is with respect to any Limited Liquidation Event all HVF II Series of DefaultGroup I Notes) or at the Requisite Investors (written direction of the HVF II Required Series Noteholders of any HVF II Series of Group I Notes with respect to any which such HVF II Group I Liquidation Event shall have occurred (in the case where such HVF II Group I Liquidation Event is with respect to less than all HVF II Series of DefaultGroup I Notes) shall), ) take such previously directed action pursuant to and in accordance with Section 10.2(a) or (b) (and any related action as permitted under this Indenture Series Supplement thereafter determined by the Trustee to be appropriate without the need under this provision or any other provision under this Indenture Series Supplement to direct HVF or the Collateral Agent to take such action). The Trustee may direct the Collateral Agent to institute legal proceedings for the appointment of a receiver or receivers to take possession of the HVF Series 2013-G1 Eligible Vehicles pending the sale thereof pursuant either to the powers of sale granted by the this IndentureSeries Supplement, the Collateral Agency Agreement and the other Series 2013-G1 Related Documents or to a judgment, order or decree made in any judicial proceeding for the foreclosure or involving the enforcement of this IndentureSeries Supplement.

Failure of HVF or the Collateral Agent to Take Action. If If (i) HVF or the Collateral Agent shall have failed, within 10 ten (10) Business Days of receiving the direction of the Trustee or the HVF II Trustee, to take commercially reasonable action to accomplish directions of the Trustee given pursuant to clauses (ba) or (cb) above, , (ii) HVF or the Collateral Agent refuses to take such action or action, or (iii) subject to Section 10.2(e), the Trustee reasonably determines that such action must be taken immediately, then the Trustee may (and at the written direction of the Required Noteholders of HVF II Requisite Group I Investors (in the affected Series of Notes (case where such HVF II Group I Liquidation Event is with respect to any Limited Liquidation Event all HVF II Series of DefaultGroup I Notes) or at the Requisite Investors (written direction of the HVF II Required Series Noteholders of any HVF II Series of Group I Notes with respect to any which such HVF II Group I Liquidation Event shall have occurred (in the case where such HVF II Group I Liquidation Event is with respect to less than all HVF II Series of DefaultGroup I Notes) shall), ) take such previously directed action pursuant to and in accordance with Section 10.2(a) or (b) (and any related action as permitted under this Indenture Series Supplement thereafter determined by the Trustee to be appropriate without the need under this provision or any other provision under this Indenture Series Supplement to direct HVF or the Collateral Agent to take such action). The Trustee may direct the Collateral Agent to institute legal proceedings for the appointment of a receiver or receivers to take possession of the HVF Series 2013-G1 Eligible Vehicles pending the sale thereof pursuant either to the powers of sale granted by the this IndentureSeries Supplement, the Collateral Agency Agreement and the other Series 2013-G1 Related Documents or to a judgment, order or decree made in any judicial proceeding for the foreclosure or involving the enforcement of this IndentureSeries Supplement.

Failure of HVF or the Collateral Agent to Take Action. If (i) HVF or the Collateral Agent shall have failed, within 10 Business Days of receiving the direction of the Trustee, to take commercially reasonable action to accomplish directions of the Trustee given pursuant to clauses (b) or (c) above, (ii) HVF or the Collateral Agent refuses to take such action or (iii) subject to the proviso set forth in clause (c)(iii), the Trustee reasonably determines that such action must be taken immediately, the Trustee may (and at the written direction of the Series 2010-2 Required Noteholders of the affected Series of Notes (with respect to any Limited Liquidation Event of Defaultshall) or the Requisite Investors (with respect to any Liquidation Event of Default) shall), take such previously directed action (and any related action as permitted under this Indenture the Series 2010-2 Supplement thereafter determined by the Trustee to be appropriate without the need under this provision or any other provision under this Indenture the Series 2010-2 Supplement to direct HVF or the Collateral Agent to take such action). The Trustee may direct the Collateral Agent to institute legal proceedings for the appointment of a receiver or receivers to take possession of the HVF Series 2010-2 Vehicles pending the sale thereof pursuant either to the powers of sale granted by the this IndentureSeries 2010-2 Supplement, the Collateral Agency Agreement and the other Series 2010-2 Related Documents or to a judgment, order or decree made in any judicial proceeding for the foreclosure or involving the enforcement of this Indenturethe Series 2010-2 Supplement.