Common use of Limitation on Suit Clause in Contracts

Limitation on Suit. No Holder of any Security shall have any right to pursue any remedy with respect to this indenture or the Securities (including, instituting any proceeding, judicial or otherwise, with respect to this Indenture or for the appointment of a receiver or trustee) unless: (1) such Holder has previously given written notice to the Trustee of an Event of Default that is continuing; (2) the Holders of at least 25% in aggregate principal amount of the Outstanding Securities shall have made written request to the Trustee to pursue the remedy; (3) the Trustee has failed to comply with the request for 60 days after its receipt of such notice, request and offer of indemnity; and (4) during such 60-day period, no direction inconsistent with such written request has been given to the Trustee by the Holders of a majority in aggregate principal amount of the Outstanding Securities (or such amount as shall have acted at a meeting pursuant to the provisions of this Indenture); provided, however, that no one or more of such Holders may use this Indenture to prejudice the rights of another Holder or to obtain preference or priority over another Holder.

Limitation on Suit. No Notwithstanding Section 6.04 of the Base Indenture, no Holder of any Security shall have any right to pursue any remedy with respect to this indenture Indenture or the Securities (including, including instituting any proceeding, judicial or otherwise, with respect to this Indenture or for the appointment of a receiver or trustee) unless: (1a) such Holder has previously given written notice to the Trustee of an Event of Default that is continuing; (2b) the Holders of at least 25% in aggregate principal amount of the Outstanding Securities then outstanding shall have made written request to the Trustee to pursue the remedy; (3c) such Holder or Holders have offered to the Trustee indemnity satisfactory to it against any costs, expenses and liabilities incurred in complying with such request; (d) the Trustee has failed to comply with the request for 60 days after its receipt of such notice, request and offer of indemnity; and (4e) during such 60-day period, no direction inconsistent with such written request has been given to the Trustee by the Holders of a majority in aggregate principal amount of the Outstanding Securities then outstanding (or such amount as shall have acted at a meeting pursuant to the provisions of this Indenture); provided, however, that no one or more of such Holders may use this Indenture to prejudice the rights of another Holder or to obtain preference or priority over another Holder.

Limitation on Suit. No Holder of any Security Note shall have any right to pursue any remedy with respect to this indenture Indenture or the Securities Notes (including, including instituting any proceeding, judicial or otherwise, with respect to this Indenture or for the appointment of a receiver or trustee) unless: (1a) such Holder has previously given written notice to the Trustee of an Event of Default that is continuing; (2b) the Holders of at least 25% in aggregate principal amount of the Outstanding Securities Notes then outstanding shall have made written request to the Trustee to pursue the remedy; (3c) such Holder or Holders have offered and, if requested, provided, to the Trustee indemnity or security satisfactory to the Trustee against any losses, costs, expenses and liabilities incurred in complying with such request; (d) the Trustee has failed to comply with the request for 60 days after its receipt of such notice, request and offer of security or indemnity; and (4e) during such 60-day period, no direction which in the opinion of the Trustee is inconsistent with such written request has been given to the Trustee by the Holders of a majority in aggregate principal amount of the Outstanding Securities (or such amount as shall have acted at a meeting pursuant to the provisions of this Indenture); provided, however, that no one or more of such Holders may use this Indenture to prejudice the rights of another Holder or to obtain preference or priority over another HolderNotes then outstanding.