Limitation of Suits by Holders Sample Clauses

Limitation of Suits by Holders. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, a Holder may pursue a remedy with respect to this Indenture or the Notes only if: (1) the Holder gives to the Trustee notice of a continuing Event of Default; (2) the Holders of at least 25% in principal amount of the then outstanding Notes make a request to the Trustee to pursue the remedy; (3) such Holder or Holders offer to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense; (4) the Trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and (5) during such 60-day period the Holders of a majority in aggregate principal amount of the then outstanding Notes do not give the Trustee a direction inconsistent with the request. A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. Holders of the Notes may not enforce this Indenture, except as provided herein.
AutoNDA by SimpleDocs
Limitation of Suits by Holders. For purposes of this Second Supplemental Indenture and the 7-Year Notes, Section 6.6 of the Indenture is hereby amended to read in its entirety as follows:
Limitation of Suits by Holders. 53 SECTION 6.07. Rights of Holders to Receive Payment. 54 SECTION 6.08. Collection Suit by Trustee. 54 SECTION 6.09. Trustee May File Proofs of Claim. 54 SECTION 6.10. Priorities. 55 SECTION 6.11. Undertaking for Costs. 55 ARTICLE VII
Limitation of Suits by Holders. A Holder may pursue a remedy with respect to this Indenture or the Notes only if: (1) the Holder gives to the Trustee notice of a continuing Event of Default; (2) the Holders of at least 25% in principal amount of the then outstanding Notes make a request to the Trustee to pursue the remedy; (3) such Holder or Holders offer to the Trustee indemnity satisfactory to the Trustee against any loss liability or expense; (4) the Trustee does not comply with the request

Related to Limitation of Suits by Holders

  • Limitation on Suits No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless

Time is Money Join Law Insider Premium to draft better contracts faster.