Common use of Limitation on Rights of Securityholders Clause in Contracts

Limitation on Rights of Securityholders. The death or incapacity of any Securityholder shall not operate to terminate this Agreement, nor entitle such Securityholder’s legal representative or heirs to claim an accounting or to take any action or commence any proceeding in any court for a petition or winding up of the Issuer, or otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. No Securityholder shall have any right to vote (except as provided herein) or in any manner otherwise control the operation and management of the Trust Estate, or the obligations of the parties hereto, nor shall anything herein set forth or contained in the terms of the Securities be construed so as to constitute the Securityholders from time to time as partners or members of an association; nor shall any Securityholder be under any liability to any third party by reason of any action taken by the parties to this Agreement pursuant to any provision hereof. No Securityholder shall have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Xxxxxx previously shall have given to the Indenture Trustee a written notice of an Event of Default and of the continuance thereof, as herein provided, and unless the Holders of Securities evidencing not less than 25% of the Voting Rights evidenced by the Securities shall also have made written request to the Indenture Trustee to institute such action, suit or proceeding in its own name as Indenture Trustee hereunder and shall have offered to the Indenture Trustee such reasonable indemnity as it may require against the costs, expenses, and liabilities to be incurred therein or thereby, and the Indenture Trustee, for 60 days after its receipt of such notice, request and offer of indemnity shall have neglected or refused to institute any such action, suit or proceeding; it being understood and intended, and being expressly covenanted by each Securityholder with every other Securityholder and the Issuer and the Indenture Trustee, that no one or more Holders of Securities shall have any right in any manner whatever by virtue or by availing itself or themselves of any provisions of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of the Securities, or to obtain or seek to obtain priority over or preference to any other such Holder or to enforce any right under this Agreement, except in the manner herein provided and for the common benefit of all Securityholders. For the protection and enforcement of the provisions of this Section 9.8, each and every Securityholder and the Indenture Trustee shall be entitled to such relief as can be given either at law or in equity.

Limitation on Rights of Securityholders. (a) The death or incapacity of any Investor Securityholder shall not operate to terminate this AgreementAgreement or the Trust, nor shall such death or incapacity entitle such Securityholder’s 's legal representative representatives or heirs to claim an accounting or to take any action or commence any proceeding in any court for a petition partition or winding up of the IssuerTrust, or nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. (b) No Investor Securityholder shall have any right to vote (except as expressly provided hereinin this Agreement) or in any manner otherwise control the operation and management of the Trust EstateTrust, or the obligations of the parties hereto, nor shall anything herein set forth or contained in the terms of the Securities be construed so as to constitute the Securityholders from time to time as partners or members of an association; nor shall any Investor Securityholder be under any liability to any third party person by reason of any action taken by the parties to this Agreement pursuant to any provision hereof. (c) No Investor Securityholder shall have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Xxxxxx Investor Securityholder previously shall have given to the Indenture Trustee a written notice of an Event of Default and of the continuance thereof, as herein providedmade, and unless the Holders of Investor Securities evidencing not less more than 2550% of the Voting Rights evidenced by aggregate unpaid principal amount of all Investor Securities (or, with respect to any such action, suit or proceeding that does not relate to all Series, 50% of the aggregate unpaid principal amount of the Investor Securities of all Series to which such action, suit or proceeding relates) shall also have made written made, a request to the Indenture Trustee to institute such action, suit or proceeding in its own name as Indenture Trustee hereunder and shall have offered to the Indenture Trustee such reasonable indemnity as it may require against the costs, expenses, expenses and liabilities to be incurred therein or thereby, and the Indenture Trustee, for 60 days after its receipt of such notice, request and offer of indemnity indemnity, shall have neglected or refused to institute any such action, suit or proceeding; it being understood and intended, and being expressly covenanted by each Investor Securityholder with every other Investor Securityholder and the Issuer and the Indenture Trustee, that no one or more Holders of Securities Investor Securityholders shall have any right in any manner whatever by virtue or by availing itself or themselves of any provisions of this Agreement to affect, disturb or prejudice the rights of the Holders holders of any other of the Investor Securities, or to obtain or seek to obtain priority over or preference to any other such Holder Investor Securityholder, or to enforce any right under this Agreement, except in the manner herein provided and for the equal, ratable and common benefit of all SecurityholdersInvestor Securityholders except as otherwise expressly provided in this Agreement. For the protection and enforcement of the provisions of this Section 9.8Section, each and every Investor Securityholder and the Indenture Trustee shall be entitled to such relief as can be given either at law or in equity.. SECTION 13.4

Limitation on Rights of Securityholders. The death or incapacity of any Securityholder shall not operate to terminate this Agreement, nor entitle such Securityholder’s legal representative or heirs to claim an accounting or to take any action or commence any proceeding in any court for a petition or winding up of the Issuer, or otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. No Securityholder shall have any right to vote (except as provided hereinin Sections 6.01, 7.01, and 9.01 herein and Section 5.4 of the Pooling Agreement) or in any manner otherwise control the operation and management of the Trust EstateTrust, or the obligations of the parties hereto, nor shall anything herein set forth forth, or contained in the terms of the Securities Securities, be construed so as to constitute the Securityholders from time to time as partners or members of an association; nor shall any Securityholder be under any liability to any third party person by reason of any action taken by the parties to this Agreement pursuant to any provision hereof. No Securityholder shall have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Xxxxxx Holder previously shall have given to the Indenture Trustee a written notice of an Event of Default default and of the continuance thereof, as herein hereinbefore provided, and unless also the Holders of Securities evidencing not less more than 2550% of the Voting Rights evidenced by Outstanding Amount of the Securities shall also have made written request to upon the Indenture Trustee to institute such action, suit or proceeding in its own name as Indenture Trustee hereunder and shall have offered to the Indenture Trustee such reasonable indemnity as it may require against the costs, expenses, expenses and liabilities to be incurred therein or thereby, and the Indenture Trustee, for 60 days after its receipt of such notice, request and offer of indemnity indemnity, shall have neglected or refused to institute any such action, suit or proceeding; it being understood and intended, and being expressly covenanted by each Securityholder with every other Securityholder and the Issuer and the Indenture Trustee, that no one or more Holders of Securities shall have any right in any manner whatever by virtue or by availing itself or themselves of any provisions of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of the Securities, or to obtain or seek to obtain priority over or preference to any other such Holder Holder, or to enforce any right under this Agreement, except in the manner herein provided and for the equal, ratable and common benefit of all Securityholders. For the protection and enforcement of the provisions of this Section 9.89.03, each and every Securityholder and the Indenture Trustee shall be entitled to such relief as can be given either at law or in equity. By accepting its Certificate, each Securityholder agrees that unless a Insurer Default exists, the Insurer shall have the right to exercise all rights of the Securityholder under this Agreement without any further consent of the Securityholder.

Limitation on Rights of Securityholders. The death or incapacity of any Securityholder shall not operate to terminate this AgreementAgreement or the Trust Fund, nor entitle such Securityholder’s 's legal representative representatives or heirs to claim an accounting or to take any action or commence any proceeding in any court for a petition partition or winding up of the IssuerTrust Fund, or nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. No Securityholder shall have any right to vote (except as expressly provided for herein) or in any manner otherwise control the operation and management of the Trust EstateFund, or the obligations of the parties hereto, nor shall anything herein set forth forth, or contained in the terms of the Securities Securities, be construed so as to constitute the Securityholders from time to time as partners or members of an association; nor shall any Securityholder be under any liability to any third party by reason of any action taken by the parties to this Agreement pursuant to any provision hereof. No Securityholder shall have any right by virtue or by availing itself of any provisions provision of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Xxxxxx Holder previously shall have given to the Indenture Trustee a written notice of an Event of Default Default, or of a default by the Loan Seller or the Trustee in the performance of any obligation hereunder, and of the continuance thereof, as herein hereinbefore provided, and unless also the Holders of Securities evidencing not less than entitled to at least 25% of the Voting Rights evidenced by the Securities shall also have made written request to upon the Indenture Trustee to institute such action, suit or proceeding in its own name as Indenture Trustee hereunder and shall have offered to the Indenture Trustee such reasonable indemnity as it may require against the costs, expenses, expenses and liabilities to be incurred therein or thereby, and the Indenture Trustee, for 60 days after its receipt of such notice, request and offer of indemnity indemnity, shall have neglected or refused to institute any such action, suit or proceeding; it being . It is understood and intended, and being expressly covenanted by each Securityholder with every other Securityholder and the Issuer and the Indenture Trustee, that no one or more Holders of Securities shall have any right in any manner whatever by virtue or by availing itself or themselves of any provisions provision of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of the such Securities, or to obtain or seek to obtain priority over or preference to any other such Holder Holder, or to enforce any right under this Agreement, except in the manner herein provided and for the equal, ratable and common benefit of all Securityholders. For the protection and enforcement of the provisions of this Section 9.8Section, each and every Securityholder and the Indenture Trustee shall be entitled to such relief as can be given either at law or in equity.

Limitation on Rights of Securityholders. The death or incapacity of any Securityholder shall not operate to terminate this Agreementthe Pooling and Master Servicing Agreement or the Trust, nor entitle such Securityholder’s 's legal representative representatives or heirs to claim an accounting or to take any action or commence any proceeding in any court for a petition partition or winding up of the IssuerTrust, or nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. No Securityholder shall have any right to vote (except as expressly provided for herein) or in any manner otherwise control the operation and management of the Trust EstateTrust, or the obligations of the parties hereto, nor shall anything herein set forth forth, or contained in the terms of the Securities Securities, be construed so as to constitute the Securityholders from time to time as partners or members of an association; nor shall any Securityholder be under any liability to any third party person by reason of any action taken by the parties to this the Pooling and Master Servicing Agreement pursuant to any provision hereof. No Securityholder shall have any right by virtue or by availing itself of any provisions provision of this the Pooling and Master Servicing Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this the Pooling and Master Servicing Agreement, unless such Xxxxxx Holder previously shall have given to the Indenture Trustee a written notice of an Event of Default default and of the continuance thereof, as herein hereinbefore provided, and unless also the Holders of Securities evidencing not less than entitled to at least 25% of the Voting Rights evidenced by the Securities shall also have made written request to upon the Indenture Trustee to institute such action, suit or proceeding in its own name as Indenture Trustee hereunder under the Pooling and Master Servicing Agreement and shall have offered to the Indenture Trustee such reasonable indemnity as it may require against the costs, expenses, expenses and liabilities to be incurred therein or thereby, and the Indenture Trustee, for 60 15 days after its receipt of such notice, request and offer of indemnity indemnity, shall have neglected or refused to institute any such action, suit or proceeding; it being . It is understood and intended, and being expressly covenanted by each Securityholder with every other Securityholder and the Issuer and the Indenture Trustee, that no one or more Holders of Securities shall have any right in any manner whatever by virtue or by availing itself or themselves of any provisions provision of this the Pooling and Master Servicing Agreement to affect, disturb or prejudice the rights of the Holders of any other of the such Securities, or to obtain or seek to obtain priority over or preference to any other such Holder Holder, or to enforce any right under this the Pooling and Master Servicing Agreement, except in the manner herein therein provided and for the equal, ratable and common benefit of all Securityholders. For the protection and enforcement of the provisions of this Section 9.8Section, each and every Securityholder and the Indenture Trustee shall be entitled to such relief as can be given either at law or in equity.

Limitation on Rights of Securityholders. The death or incapacity of any Securityholder shall not operate to terminate this Agreement, nor entitle such Securityholder’s legal representative or heirs to claim an accounting or to take any action or commence any proceeding in any court for a petition or winding up of the Issuer, or otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. No Securityholder shall have any right to vote (except as provided herein) or in any manner otherwise control the operation and management of the Trust Estate, or the obligations of the parties hereto, nor shall anything herein set forth or contained in the terms of the Securities be construed so as to constitute the Securityholders from time to time as partners or members of an association; nor shall any Securityholder be under any liability to any third party by reason of any action taken by the parties to this Agreement pursuant to any provision hereof. No Securityholder shall have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Xxxxxx Holder previously shall have given to the Indenture Trustee a written notice of an Event of Default and of the continuance thereof, as herein provided, and unless the Holders of Securities evidencing not less than 25% of the Voting Rights evidenced by the Securities shall also have made written request to the Indenture Trustee to institute such action, suit or proceeding in its own name as Indenture Trustee hereunder and shall have offered to the Indenture Trustee such reasonable indemnity as it may require against the costs, expenses, and liabilities to be incurred therein or thereby, and the Indenture Trustee, for 60 days after its receipt of such notice, request and offer of indemnity shall have neglected or refused to institute any such action, suit or proceeding; it being understood and intended, and being expressly covenanted by each Securityholder with every other Securityholder and the Issuer and the Indenture Trustee, that no one or more Holders of Securities shall have any right in any manner whatever by virtue or by availing itself or themselves of any provisions of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of the Securities, or to obtain or seek to obtain priority over or preference to any other such Holder or to enforce any right under this Agreement, except in the manner herein provided and for the common benefit of all Securityholders. For the protection and enforcement of the provisions of this Section 9.8, each and every Securityholder and the Indenture Trustee shall be entitled to such relief as can be given either at law or in equity.

Limitation on Rights of Securityholders. The death or incapacity of any Securityholder shall not operate to terminate this Agreement, nor entitle such Securityholder’s legal representative or heirs to claim an accounting or to take any action or commence any proceeding in any court for a petition or winding up of the Issuer, or otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. No Securityholder shall have any right to vote (except as provided herein) or in any manner otherwise control the operation and management of the Trust Estate, or the obligations of the parties hereto, nor shall anything herein set forth or contained in the terms of the Securities be construed so as to constitute the Securityholders from time to time as partners or members of an association; nor shall any Securityholder be under any liability to any third party by reason of any action taken by the parties to this Agreement pursuant to any provision hereof. No Securityholder shall have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Xxxxxx previously shall have given to the Indenture Trustee a written notice of an Event of Default and of the continuance thereof, as herein provided, and unless the Holders of Securities evidencing not less than 25% of the Voting Rights evidenced by the Securities shall also have made written request to the Indenture Trustee to institute such action, suit or proceeding in its own name as Indenture Trustee hereunder and shall have offered to the Indenture Trustee such reasonable indemnity as it may require against the costs, expenses, and liabilities to be incurred therein or thereby, and the Indenture Trustee, for 60 days after its receipt of such notice, request and offer of indemnity shall have neglected or refused to institute any such action, suit or proceeding; it being understood and intended, and being expressly covenanted by each Securityholder with every other Securityholder and the Issuer and the Indenture Trustee, that no one or more Holders of Securities shall have any right in any manner whatever by virtue or by availing itself or themselves of any provisions of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of the Securities, or to obtain or seek to obtain priority over or preference to any other such Holder or to enforce any right under this Agreement, except in the manner herein provided and for the common benefit of all Securityholders. For the protection and enforcement of the provisions of this Section 9.8, each and every Securityholder and the Indenture Trustee shall be entitled to such relief as can be given either at law or in equity.. 101

Limitation on Rights of Securityholders. (a) The death or incapacity of any Investor Securityholder shall not operate to terminate this AgreementAgreement or the Trust, nor shall such death or incapacity entitle such Securityholder’s 's legal representative representatives or heirs to claim an accounting or to take any action or commence any proceeding in any court for a petition partition or winding up of the IssuerTrust, or nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. (b) No Investor Securityholder shall have any right to vote (except with respect to the Investor Securityholders as provided hereinin Section 13.1 hereof) or in any manner otherwise control the operation and management of the Trust EstateTrust, or the obligations of the parties hereto, nor shall anything herein set forth forth, or contained in the terms of the Securities Securities, be construed so as to constitute the Securityholders from time to time as partners or members of an association; nor shall any Investor Securityholder be under any liability to any third party person by reason of any action taken by the parties to this Agreement pursuant to any provision hereof. (c) No Securityholder shall have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Xxxxxx Securityholder previously shall have given written notice to the Indenture Trustee a written notice of an Event of Default and of the continuance thereof, as herein providedTrustee, and unless the Holders of Securities evidencing not less Undivided Interests aggregating more than 2550% of the Voting Rights evidenced by Invested Amount of any Series which may be adversely affected but for the Securities institution of such suit, action or proceeding, shall also have made written request to upon the Indenture Trustee to institute such action, suit or proceeding in its own name as Indenture Trustee hereunder and shall have offered to the Indenture Trustee such reasonable indemnity as it may require against the costs, expenses, expenses and liabilities to be incurred therein or thereby, and the Indenture Trustee, for 60 days after its receipt of such notice, request and offer of indemnity indemnity, shall have neglected or refused to institute any such action, suit or proceeding; it being understood and intended, and being expressly covenanted by each Securityholder with every other Securityholder and the Issuer and the Indenture Trustee, that no one or more Holders of Securities Securityholders shall have any the right in any manner whatever by virtue or by availing itself or themselves of any provisions of this Agreement to affect, disturb or prejudice the rights of the Holders Securityholders of any other of the Securities, or to obtain or seek to obtain priority over or preference to any other such Holder Securityholder, or to enforce any right under this Agreement, except in the manner herein provided and for the equal, ratable and common benefit of all Securityholders. For the protection and enforcement of the provisions of this Section 9.813.3, each and every Securityholder and the Indenture Trustee shall be entitled to such relief as can be given either at law or in equity.. Section 13.4

Limitation on Rights of Securityholders. The death or incapacity of any Securityholder shall not operate to terminate this AgreementAgreement or the Trust, nor entitle such Securityholder’s 's legal representative representatives or heirs to claim an accounting or to take any action or commence any proceeding in any court for a petition partition or winding up of the IssuerTrust, or nor otherwise affect the rights, obligations obligations, and liabilities of the parties hereto to this Agreement or any of them. No Securityholder shall have any right to vote (except as provided hereinin Section 9.1, 9.4, 12.1, 12.3 or 12.7) or in any manner otherwise control the operation and management of the Trust EstateTrust, or the obligations of the parties heretoto this Agreement, nor shall anything herein in this Agreement set forth forth, or contained in the terms of the Securities Securities, be construed so as to constitute the Securityholders from time to time as partners or members of an association; nor shall any Securityholder be under any liability to any third party person by reason of any action taken by the parties to this Agreement pursuant to any provision hereofof this Agreement. No Securityholder shall have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit, action action, or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Xxxxxx Holder previously shall have received the written consent of the Security Insurer and shall have given to the Indenture Trustee a written notice of an Event of Default default and of the continuance thereof, as herein hereinbefore provided, and unless also the Holders of Securities evidencing not less than 25% of the Voting Rights evidenced by the Securities Security Principal Balance shall also have made written request to upon the Indenture Trustee to institute such action, suit suit, or proceeding in its own name as Indenture Trustee hereunder under this Agreement and shall have offered to the Indenture Trustee such reasonable indemnity as it may require against the costs, expenses, and liabilities to be incurred therein or thereby, and the Indenture Trustee, for 60 30 days after its receipt of such notice, request request, and offer of indemnity indemnity, shall have neglected or refused to institute any such action, suit suit, or proceedingproceeding and during such 30-day period no direction inconsistent with such written request has been given to the Trustee pursuant to Section 9.4; it being understood and intended, and being expressly covenanted by each Securityholder with every other Securityholder and the Issuer and the Indenture Trustee, that no one or more Holders of Securities shall have any right in any manner whatever by virtue or by availing itself or themselves of any provisions of this Agreement to affect, disturb disturb, or prejudice the rights of the Holders of any other of the Securities, or to obtain or seek to obtain priority over or preference to any other such Holder Holder, or to enforce any right right, under this Agreement, Agreement except in the manner herein provided in this Agreement and for the equal, ratable, and common benefit of all Securityholders. For the protection and enforcement of the provisions of this Section 9.812.3, each and every Securityholder and the Indenture Trustee shall be entitled to such relief as can be given either at law or in equity.

Limitation on Rights of Securityholders. The death or incapacity of any Securityholder shall not operate to terminate this Agreement, nor entitle such Securityholder’s legal representative or heirs to claim an accounting or to take any action or commence any proceeding in any court for a petition or winding up of the Issuer, or otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. No Securityholder shall have any right to vote (except as provided herein) or in any manner otherwise control the operation and management of the Trust Estate, or the obligations of the parties hereto, nor shall anything herein set forth or contained in the terms of the Securities be construed so as to constitute the Securityholders from time to time as partners or members of an association; nor shall any Securityholder be under any liability to any third party by reason of any action taken by the parties to this Agreement pursuant to any provision hereof. No Securityholder shall have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Xxxxxx Holder previously shall have given to the Indenture Trustee a written notice of an Event of Default and of the continuance thereof, as herein provided, and unless the Holders of Securities evidencing not less than 25% [25]% of the Voting Rights evidenced by the Securities shall also have made written request to the Indenture Trustee to institute such action, suit or proceeding in its own name as Indenture Trustee hereunder and shall have offered to the Indenture Trustee such reasonable indemnity as it may require against the costs, expenses, and liabilities to be incurred therein or thereby, and the Indenture Trustee, for 60 days after its receipt of such notice, request and offer of indemnity shall have neglected or refused to institute any such action, suit or proceeding; it being understood and intended, and being expressly covenanted by each Securityholder with every other Securityholder and the Issuer and the Indenture Trustee, that no one or more Holders of Securities shall have any right in any manner whatever by virtue or by availing itself or themselves of any provisions of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of the Securities, or to obtain or seek to obtain priority over or preference to any other such Holder or to enforce any right under this Agreement, except in the manner herein provided and for the common benefit of all Securityholders. For the protection and enforcement of the provisions of this Section 9.8, each and every Securityholder and the Indenture Trustee shall be entitled to such relief as can be given either at law or in equity.