Common use of Limitation on Action by SVS Holder Clause in Contracts

Limitation on Action by SVS Holder. No SVS Holder shall have the right, other than through the Trustee, to institute any action or proceeding or to exercise any other remedy for the purpose of enforcing any rights arising from this Agreement unless SVS Holders shall have: (a) requested that the Trustee act in the manner specified in Section 3.3; and (b) provided reasonable funds and indemnity to the Trustee, and the Trustee shall have failed to so act within thirty days after the provision of such funds and indemnity. In such case, any SVS Holder, acting on behalf of itself and all other SVS Holders, shall be entitled to take those proceedings in any court of competent jurisdiction that the Trustee might have taken.

Limitation on Action by SVS Holder. No SVS Holder shall have the right, other than through the Trustee, to institute any action or proceeding or to exercise any other remedy for the purpose of enforcing any rights arising from this Agreement unless SVS Holders shall have: (a) requested that the Trustee act in the manner specified in Section 3.3; and (b) provided reasonable funds and indemnity to the Trustee, and the Trustee shall have failed to so act within thirty 30 days after the provision of such funds and indemnity. In such case, any SVS Holder, acting on behalf of itself and all other SVS Holders, shall be entitled to take those proceedings in any court of competent jurisdiction that the Trustee might have taken.

Limitation on Action by SVS Holder. No SVS Holder shall have the right, other than through the Trustee, to institute any action or proceeding or to exercise any other remedy for the purpose of enforcing any rights arising from this Agreement unless SVS Holders shall have: (a) requested that the Trustee act in the manner specified in Section 3.3; and (b) provided reasonable funds and indemnity to the Trustee, and the Trustee shall have failed to so act within thirty (30) days after the provision of such funds and indemnity. In such case, any SVS Holder, acting on behalf of itself and all other SVS Holders, shall be entitled to take those proceedings in any court of competent jurisdiction that the Trustee might have taken.

Limitation on Action by SVS Holder. No SVS Holder shall have the right, other than through the Trustee, to institute any action or proceeding or to exercise any other remedy for the purpose of enforcing any rights arising from this Agreement unless SVS Holders shall have: (a) requested that the Trustee act in the manner specified in Section 3.3; and (b) provided reasonable funds and indemnity to the Trustee, and the Trustee shall have failed to so act within thirty 30 days after the provision of such funds and indemnity. In such case, any SVS Holder, acting on behalf of itself and all other SVS Holders, shall be entitled to take those proceedings in any court of competent jurisdiction that the Trustee might have taken. This Section shall survive the termination of this Agreement and the resignation or removal of the Trustee.

Limitation on Action by SVS Holder. No SVS Holder shall have the right, other than through the Trustee, to institute any action or proceeding or to exercise any other remedy for the purpose of enforcing any rights arising from this Agreement unless SVS Holders shall have: (a) requested that the Trustee act in the manner specified in Section 3.3; and (b) provided reasonable funds and indemnity to the Trustee, and the Trustee shall have failed to so act within thirty (30) days after the provision of such funds and indemnity. indemnity In such case, any SVS Holder, acting on behalf of itself and all other SVS Holders, shall be entitled to take those proceedings in any court of competent jurisdiction that the Trustee might have taken.

Limitation on Action by SVS Holder. ‌ No SVS Holder shall have the right, other than through the Trustee, to institute any action or proceeding or to exercise any other remedy for the purpose of enforcing any rights arising from this Agreement unless SVS Holders shall have: (a) requested that the Trustee act in the manner specified in Section 3.3; and (b) provided reasonable funds and indemnity to the Trustee, and the Trustee shall have failed to so act within thirty days after the provision of such funds and indemnity. In such case, any SVS Holder, acting on behalf of itself and all other SVS Holders, shall be entitled to take those proceedings in any court of competent jurisdiction that the Trustee might have taken.

Limitation on Action by SVS Holder. No SVS Holder shall have the right, other than through the Trustee, to institute any action or proceeding or to exercise any other remedy for the purpose of enforcing any rights arising from this Agreement unless SVS Holders shall have: (a) requested that the Trustee act in the manner specified in Section 3.3; and3.3;and (b) provided reasonable funds and indemnity to the Trustee, and the Trustee shall have failed to so act within thirty (30) days after the provision of such funds and indemnity. In such case, any SVS Holder, acting on behalf of itself and all other SVS Holders, shall be entitled to take those proceedings in any court of competent jurisdiction that the Trustee might have taken.