Common use of Limitation on Actions of Beneficial Owners Clause in Contracts

Limitation on Actions of Beneficial Owners. Except as otherwise required by applicable law, no Beneficial Owner shall have any right to bring an action in the right of the Trust generally, or any Series, as applicable, except in accordance with Section 3816 of the Statutory Trust Act. A Beneficial Owner's right to bring a derivative action is subject to the requirement that the Requisite Holders join in the bringing of such derivative action.

Limitation on Actions of Beneficial Owners. Except as otherwise required by applicable law, no Beneficial Owner shall have any right to bring an action in the right of the Trust generally, or any Series, as applicable, except in accordance with Section 3816 of the Statutory Delaware Business Trust Act. A Beneficial Owner's =s right to bring a derivative action is subject to the requirement that Beneficial Owners owning Beneficial Interest Certificates aggregating at least the Requisite Holders Majority Beneficial Owners join in the bringing of such derivative action.

Limitation on Actions of Beneficial Owners. Except as otherwise required by applicable law, no Beneficial Owner shall have any right to bring an action in the right of the Trust generally, or any Series, as applicable, except in accordance with Section 3816 of the Statutory Trust Act. A Beneficial Owner's ’s right to bring a derivative action is subject to the requirement that the Requisite Holders join in the bringing of such derivative action.