Interests of Noteholders. in connection with the exercise by the Note Trustee of any of its trusts, duties, rights, powers, authorities and discretions under these presents and the other Transaction Documents: (i) where it is required to have regard to the interests of the Noteholders of any class, it shall have regard to the interests of such Noteholders as a class and, in particular but without prejudice to the generality of the foregoing, shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for individual Noteholders resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory, and the Note Trustee shall not be entitled to require, nor shall any Noteholder be entitled to claim, from the First Issuer or any other person, any indemnification or payment in respect of any tax consequence of any such exercise upon individual Noteholders; (ii) except where expressly provided otherwise, it shall have regard to the interests of the Class A First Issuer Noteholders, the Class B First Issuer Noteholders and the Class C First Issuer Noteholders equally PROVIDED THAT (a) if in the opinion of the Note Trustee there is a conflict between the interests of the Class A First Issuer Noteholders, on the one hand and the interests of the Class B First Issuer Noteholders and/or the Class C First Issuer Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class A First Issuer Noteholders and subject to (b), if in the opinion of the Note Trustee there is a conflict between the interests of the Class B First Issuer Noteholders on one hand and the interests of the Class C First Issuer Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class B First Issuer Noteholders; but so that this proviso shall not apply in the case of powers, authorities or discretions in relation to which it is expressly stated that they may be exercised by the Note Trustee only if in its opinion the interests of all the Noteholders would not be materially prejudiced thereby; and (iii) it shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for any other First Issuer Secured Creditor or any other person, the Note Trustee shall be entitled to assume, for the purposes of exercising any power, right, trust, authority, duty or discretion under or in relation to the First Issuer Notes, these presents or any of the other Transaction Documents, that such exercise will not be materially prejudicial to the interests of the Class A First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class A First Issuer Notes would not be adversely affected by such exercise, that such exercise will not be materially prejudicial to the interests of the Class B First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class B First Issuer Notes would not be adversely affected by such exercise and that such exercise will not be materially prejudicial to the interests of the Class C First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class C First Issuer Notes will not be adversely affected by such exercise;
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Samples: First Issuer Trust Deed (Permanent Mortgages Trustee LTD), First Issuer Trust Deed (Permanent Mortgages Trustee LTD)
Interests of Noteholders. in connection with the exercise or execution by the Note Trustee of any of its trusts, duties, rights, powers, authorities and discretions under these presents and the other Transaction Documents:
(i) where it is required to have regard to the interests of the Noteholders of any classClass, it shall have regard to the interests of such Noteholders as a class and, in particular but without prejudice to the generality of the foregoing, shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for individual Noteholders of any Series or Class resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory, and the Note Trustee shall not be entitled to require, nor shall any Noteholder be entitled to claim, from the First Master Issuer or any other person, any indemnification or payment in respect of any tax consequence of any such exercise upon individual Noteholders;
(ii) except where expressly provided otherwise, it shall have regard to the interests of the Class A First Issuer Noteholders, the Class B First Issuer Noteholders, the Class M Noteholders, the Class C Noteholders and the Class C First Issuer D Noteholders equally PROVIDED THAT (aA) if in the opinion of the Note Trustee there is a conflict between the interests of the Class A First Issuer Noteholders, on the one hand and the interests of the Class B First Issuer Noteholders and/or the Class M Noteholders and/or the Class C First Issuer Noteholders and/or the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class A First Issuer Noteholders and subject to Noteholders; (b), B) if in the opinion of the Note Trustee there is a conflict between the interests of the Class B First Issuer Noteholders on the one hand and the interests of Class M Noteholders and/or the Class C First Issuer Noteholders and/or the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class B First Issuer Noteholders; (C) if in the opinion of the Note Trustee there is a conflict between the interests of the Class M Noteholders on the one hand and the Class C Noteholders and/or the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class M Noteholders; and (D) if in the opinion of the Note Trustee there is a conflict between the interests of the Class C Noteholders on the one hand and the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class C Noteholders, but so that this proviso shall not apply in the case of powers, authorities or discretions in relation to which it is expressly stated that they may be exercised by the Note Trustee only if in its opinion the interests of all the Noteholders would not be materially prejudiced thereby; and
(iii) it shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for any other First Master Issuer Secured Creditor or any other person, the Note Trustee shall be entitled to assume, for the purposes of exercising any power, right, trust, authority, duty or discretion under or in relation to the First Issuer Notes, these presents or any of the other Transaction Documents, that such exercise will not be materially prejudicial to the interests of the Class A First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class A First Issuer Notes would not be adversely affected by such exercise, that such exercise will not be materially prejudicial to the interests of the Class B First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class B First Issuer Notes would not be adversely affected by such exercise and that such exercise will not be materially prejudicial to the interests of the Class C First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class C First Issuer Notes will not be adversely affected by such exercise;,
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Samples: Master Issuer Trust Deed (Permanent Funding (No. 2) LTD)
Interests of Noteholders. in connection with the exercise by the Note Trustee of any of its trusts, duties, rights, powers, authorities and discretions under these presents and the other Transaction Documents:
(i) where it is required to have regard to the interests of the Noteholders of any class, it shall have regard to the interests of such Noteholders as a class and, in particular but without prejudice to the generality of the foregoing, shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for individual Noteholders resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory, and the Note Trustee shall not be entitled to require, nor shall any Noteholder be entitled to claim, from the First Second Issuer or any other person, any indemnification or payment in respect of any tax consequence of any such exercise upon individual Noteholders;
(ii) except where expressly provided otherwise, it shall have regard to the interests of the Class A First Second Issuer Noteholders, the Class B First Second Issuer Noteholders and the Class C First Second Issuer Noteholders equally PROVIDED THAT (a) if in the opinion of the Note Trustee there is a conflict between the interests of the Class A First Second Issuer Noteholders, on the one hand and the interests of the Class B First Second Issuer Noteholders and/or the Class C First Second Issuer Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class A First Second Issuer Noteholders and subject to (b), if in the opinion of the Note Trustee there is a conflict between the interests of the Class B First Second Issuer Noteholders on ------------------------------------------------------------------------------- 25 ------------------------------------------------------------------------------- one hand and the interests of the Class C First Second Issuer Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class B First Second Issuer Noteholders; but so that this proviso shall not apply in the case of powers, authorities or discretions in relation to which it is expressly stated that they may be exercised by the Note Trustee only if in its opinion the interests of all the Noteholders would not be materially prejudiced thereby; and
(iii) it shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for any other First Second Issuer Secured Creditor or any other person, the Note Trustee shall be entitled to assume, for the purposes of exercising any power, right, trust, authority, duty or discretion under or in relation to the First Second Issuer Notes, these presents or any of the other Transaction Documents, that such exercise will not be materially prejudicial to the interests of the Class A First Second Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class A First Second Issuer Notes would not be adversely affected by such exercise, that such exercise will not be materially prejudicial to the interests of the Class B First Second Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class B First Second Issuer Notes would not be adversely affected by such exercise and that such exercise will not be materially prejudicial to the interests of the Class C First Second Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class C First Second Issuer Notes will not be adversely affected by such exercise;
Appears in 1 contract
Samples: Second Issuer Trust Deed (Permanent Mortgages Trustee LTD)
Interests of Noteholders. in connection with the exercise by the The Note Trustee of any of its trustsshall, duties, as regards all the rights, powers, authorities trusts, authorities, duties and discretions under these presents vested in it by the Notes, this Trust Deed and the other Issuer Transaction DocumentsDocuments as between itself and the Noteholders:
(ia) where it is required to have regard to the interests of the Noteholders holders of all Classes of Notes equally, provided that, if, in the opinion of the Note Trustee, there is a conflict between the interests of the holders of the Most Senior Class of Notes then outstanding on the one hand and the interests of the holders of any classother Class of Notes then outstanding on the other hand, it the Note Trustee shall have regard only to the interests of such Noteholders as a class and, in particular but without prejudice to the generality holders of the foregoingMost Senior Class of Notes then outstanding;
(b) so long as any of the Notes remains outstanding, shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for any other Issuer Secured Creditor or any other person except to ensure the application of the Issuer's funds after the delivery of a Note Enforcement Notice in accordance with the relevant Issuer Post- Enforcement Priority of Payments;
(c) not have regard to, or be in any way liable for, the consequences of any exercise thereof for individual Noteholders or Couponholders resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territoryterritory or taxing jurisdiction, and the Note Trustee shall not be entitled to require, nor shall any Noteholder Noteholders or Couponholders be entitled to claim, from the First Issuer or any other person, person any indemnification or payment in respect of any tax consequence Tax consequences of any such exercise upon individual NoteholdersNoteholders or Couponholders;
(iid) except where expressly provided otherwiseif none of the Notes remains outstanding, it shall have regard to the interests of the Class A First other Issuer NoteholdersSecured Creditors or, the Class B First Issuer Noteholders and the Class C First Issuer Noteholders equally PROVIDED THAT (a) if where in the opinion of the Note Trustee Trustee, there is a conflict between the interests of the Class A First any of such Issuer NoteholdersSecured Creditors, on the one hand and only to the interests of that one or those of them whose claim(s) against the Class B First Issuer Noteholders and/or rank(s) highest in the Class C First order of priority of payments set out in paragraphs (a) and (b) of the relevant Issuer Noteholders on the other handPost- Enforcement Priority of Payments (or, if there is more than one such Issuer Secured Creditor, unanimously by all such Issuer Secured Creditors); and
(e) in exercising its rights, powers, trusts, authorities, duties and discretions in accordance with this sub-clause 13.2.15, the Note Trustee shall have regard only to the interests of the Class A First Issuer Noteholders and subject to (b), if in the opinion of the Note Trustee there is a conflict between the interests of the Class B First Issuer Noteholders on one hand and the interests of the Class C First Issuer Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class B First Issuer Noteholders; but so that this proviso shall not apply in the case of powers, authorities or discretions in relation to which it is expressly stated that they may be exercised by the Note Trustee only if in its opinion the interests of all the Noteholders would not be materially prejudiced thereby; and
(iii) it shall not have regard to, or be in disregard any way liable for, the consequences of any exercise thereof for any other First Issuer Secured Creditor or any other person, the Note Trustee shall be entitled to assume, Step-Up Amounts for the purposes of exercising determining whether there are any power, right, trust, authority, duty or discretion under or in relation to the First Issuer Notes, these presents or any Notes of the other Transaction Documents, that such exercise will not be materially prejudicial to the interests of the a particular Class A First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class A First Issuer Notes would not be adversely affected by such exercise, that such exercise will not be materially prejudicial to the interests of the Class B First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class B First Issuer Notes would not be adversely affected by such exercise and that such exercise will not be materially prejudicial to the interests of the Class C First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class C First Issuer Notes will not be adversely affected by such exercise;outstanding.
Appears in 1 contract
Samples: Tenth Supplemental Trust Deed
Interests of Noteholders. in connection with the exercise by the Note Trustee of any of its trusts, duties, rights, powers, authorities and discretions under these presents and the other Transaction Documents:
(i) where it is required to have regard to the interests of the Noteholders of any class, it shall have regard to the interests of such Noteholders as a class and, in particular but without prejudice to the generality of the foregoing, shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for individual Noteholders resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory, and the Note Trustee shall not be entitled to require, nor shall any Noteholder be entitled to claim, from the First Seventh Issuer or any other person, any indemnification or payment in respect of any tax consequence of any such exercise upon individual Noteholders;
(ii) except where expressly provided otherwise, it shall have regard to the interests of the Class A First Issuer Noteholders, the Class B First Issuer Noteholders and the Class C First Issuer M Noteholders equally PROVIDED THAT (aA) if in the opinion of the Note Trustee there is a conflict between the interests of the Class A First Issuer Noteholders, on the one hand and the interests of the Class B First Issuer Noteholders Noteholders, and/or the Class C First Issuer M Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class A First Issuer Noteholders and subject to (bB), if in the opinion of the Note Trustee there is a conflict between the interests of the Class B First Issuer Noteholders on the one hand and the interests of the Class C First Issuer M Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class B First Issuer Noteholders; but so that this proviso shall not apply in the case of powers, authorities or discretions in relation to which it is expressly stated that they may be exercised by the Note Trustee only if in its opinion the interests of all the Noteholders would not be materially prejudiced thereby; and
(iii) it shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for any other First Seventh Issuer Secured Creditor or any other person, the Note Trustee shall be entitled to assume, for the purposes of exercising any power, right, trust, authority, duty or discretion under or in relation to the First Seventh Issuer Notes, these presents or any of the other Transaction Documents, that such exercise will not be materially prejudicial to the interests of the Class A First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class A First Seventh Issuer Notes would not be adversely affected by such exercise, that such exercise will not be materially prejudicial to the interests of the Class B First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class B First Seventh Issuer Notes would not be adversely affected by such exercise and that such exercise will not be materially prejudicial to the interests of the Class C First Issuer M Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class C First M Seventh Issuer Notes will not be adversely affected by such exercise;
Appears in 1 contract
Samples: Seventh Issuer Trust Deed (Holmes Financing No 7 PLC)
Interests of Noteholders. in connection with the exercise by the Note Trustee of any of its trusts, duties, rights, powers, authorities and discretions under these presents and the other Transaction Documents:
(i) where it is required to have regard to the interests of the Noteholders of any class, it shall have regard to the interests of such Noteholders as a class and, in particular but without prejudice to the generality of the foregoing, shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for individual Noteholders resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory, and the Note Trustee shall not be entitled to require, nor shall any Noteholder be entitled to claim, from the First Eighth Issuer or any other person, any indemnification or payment in respect of any tax consequence of any such exercise upon individual Noteholders;
(ii) except where expressly provided otherwise, it shall have regard to the interests of the Class A First Issuer Noteholders, the Class B First Issuer Noteholders and the Class C First Issuer Noteholders equally PROVIDED THAT (aA) if in the opinion of the Note Trustee there is a conflict between the interests of the Class A First Issuer Noteholders, on the one hand and the interests of the Class B First Issuer Noteholders Noteholders, and/or the Class C First Issuer Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class A First Issuer Noteholders and subject to (bB), if in the opinion of the Note Trustee there is a conflict between the interests of the Class B First Issuer Noteholders on the one hand and the interests of the Class C First Issuer Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class B First Issuer Noteholders; but so that this proviso shall not apply in the case of powers, authorities or discretions in relation to which it is expressly stated that they may be exercised by the Note Trustee only if in its opinion the interests of all the Noteholders would not be materially prejudiced thereby; and
(iii) it shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for any other First Eighth Issuer Secured Creditor or any other person, the Note Trustee shall be entitled to assume, for the purposes of exercising any power, right, trust, authority, duty or discretion under or in relation to the First Eighth Issuer Notes, these presents or any of the other Transaction Documents, that such exercise will not be materially prejudicial to the interests of the Class A First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class A First Eighth Issuer Notes would not be adversely affected by such exercise, that such exercise will not be materially prejudicial to the interests of the Class B First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class B First Eighth Issuer Notes would not be adversely affected by such exercise and that such exercise will not be materially prejudicial to the interests of the Class C First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class C First Eighth Issuer Notes will not be adversely affected by such exercise;
Appears in 1 contract
Samples: Eighth Issuer Trust Deed (Holmes Financing No 8 PLC)
Interests of Noteholders. in connection with the exercise or execution by the Note Trustee of any of its trusts, duties, rights, powers, authorities and discretions under these presents and the other Transaction Documents:
(i) where it is required to have regard to the interests of the Noteholders of any classClass, it shall have regard to the interests of such Noteholders as a class and, in particular but without prejudice to the generality of the foregoing, shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for individual Noteholders of any Series or Class resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory, and the Note Trustee shall not be entitled to require, nor shall any Noteholder be entitled to claim, from the First Master Issuer or any other person, any indemnification or payment in respect of any tax consequence of any such exercise upon individual Noteholders;
(ii) except where expressly provided otherwise, it shall have regard to the interests of the Class A First Issuer Noteholders, the Class B First Issuer Noteholders, the Class M Noteholders, the Class C Noteholders and the Class C First Issuer D Noteholders equally PROVIDED THAT (aA) if in the opinion of the Note Trustee there is a conflict between the interests of the Class A First Issuer Noteholders, on the one hand and the interests of the Class B First Issuer Noteholders and/or the Class M Noteholders and/or the Class C First Issuer Noteholders and/or the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class A First Issuer Noteholders and subject to Noteholders; (b), B) if in the opinion of the Note Trustee there is a conflict between the interests of the Class B First Issuer Noteholders on the one hand and the interests of Class M Noteholders and/or the Class C First Issuer Noteholders and/or the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class B First Issuer Noteholders; (C) if in the opinion of the Note Trustee there is a conflict between the interests of the Class M Noteholders on the one hand and/or the Class C Noteholders and/or the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class M Noteholders, and (D) if in the opinion of the Note Trustee there is a conflict between the interests of the Class C Noteholders on the one hand and the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class C Noteholders, but so that this proviso shall not apply in the case of powers, authorities or discretions in relation to which it is expressly stated that they may be exercised by the Note Trustee only if in its opinion the interests of all the Noteholders would not be materially prejudiced thereby; and
(iii) it shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for any other First Master Issuer Secured Creditor or any other person, the Note Trustee shall be entitled to assume, for the purposes of exercising any power, right, trust, authority, duty or discretion under or in relation to the First Issuer Notes, these presents or any of the other Transaction Documents, that such exercise will not be materially prejudicial to the interests of the Class A First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class A First Issuer Notes would not be adversely affected by such exercise, that such exercise will not be materially prejudicial to the interests of the Class B First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class B First Issuer Notes would not be adversely affected by such exercise and that such exercise will not be materially prejudicial to the interests of the Class C First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class C First Issuer Notes will not be adversely affected by such exercise;
Appears in 1 contract
Interests of Noteholders. in connection with the exercise or execution by the Note Trustee of any of its trusts, duties, rights, powers, authorities and discretions under these presents and the other Transaction Documents:
(i) where it is required to have regard to the interests of the Noteholders of any classClass, it shall have regard to the interests of such Noteholders as a class and, in particular but without prejudice to the generality of the foregoing, shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for individual Noteholders of any Series or Class resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory, and the Note Trustee shall not be entitled to require, nor shall any Noteholder be entitled to claim, from the First Issuer or any other person, any indemnification or payment in respect of any tax consequence of any such exercise upon individual Noteholders;
(ii) except where expressly provided otherwise, it shall have regard to the interests of the Class A First Issuer Noteholders, the Class B First Issuer Noteholders, the Class M Noteholders, the Class C Noteholders and the Class C First Issuer D Noteholders equally PROVIDED THAT (aA) if in the opinion of the Note Trustee there is a conflict between the interests of the Class A First Issuer Noteholders, on the one hand and the interests of the Class B First Issuer Noteholders and/or the Class M Noteholders and/or the Class C First Issuer Noteholders and/or the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class A First Issuer Noteholders and subject to Noteholders; (b), B) if in the opinion of the Note Trustee there is a conflict between the interests of the Class B First Issuer Noteholders on the one hand and the interests of Class M Noteholders and/or the Class C First Issuer Noteholders and/or the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class B First Issuer Noteholders; (C) if in the opinion of the Note Trustee there is a conflict between the interests of the Class M Noteholders on the one hand and the Class C Noteholders and/or the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class M Noteholders; and (D) if in the opinion of the Note Trustee there is a conflict between the interests of the Class C Noteholders on the one hand and the Class D Noteholders on the other hand, the Note Trustee shall have regard only to the interests of the Class C Noteholders, but so that this proviso shall not apply in the case of powers, authorities or discretions in relation to which it is expressly stated that they may be exercised by the Note Trustee only if in its opinion the interests of all the Noteholders would not be materially prejudiced thereby; and
(iii) it shall not have regard to, or be in any way liable for, the consequences of any exercise thereof for any other First Issuer Secured Creditor or any other person, the Note Trustee shall be entitled to assume, for the purposes of exercising any power, right, trust, authority, duty or discretion under or in relation to the First Issuer Notes, these presents or any of the other Transaction Documents, that such exercise will not be materially prejudicial to the interests of the Class A First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class A First Issuer Notes would not be adversely affected by such exercise, that such exercise will not be materially prejudicial to the interests of the Class B First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class B First Issuer Notes would not be adversely affected by such exercise and that such exercise will not be materially prejudicial to the interests of the Class C First Issuer Noteholders if each of the Rating Agencies has confirmed that the then current rating by it of the Class C First Issuer Notes will not be adversely affected by such exercise;,
Appears in 1 contract