Common use of Limitation on Suits by Holders Clause in Contracts

Limitation on Suits by Holders. A Holder may pursue a ------------------------------ remedy under this Indenture or under a Secured Note only if: (i) the Holder gives to the Indenture Trustee written notice of a continuing Indenture Event of Default under this Indenture; (ii) the Holders of at least 25 percent (25%) of the Outstanding principal amount of the Secured Notes instruct the Indenture Trustee to pursue the remedy; (iii) such Holder or Holders offer to the Indenture Trustee indemnity satisfactory to the Indenture Trustee against any loss, liability or expense to be, or which may be, incurred by the Indenture Trustee in pursuing the remedy; (iv) the Indenture Trustee does not comply with the request within 60 days after receipt of the instructions and the offer of indemnity; and (v) during such 60-day period, a Majority in Interest of Holders do not give the Indenture Trustee an instruction 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.

Limitation on Suits by Holders. A Holder of a Certificate may pursue a ------------------------------ remedy under this Indenture Agreement or under a Secured Note thereunder only if: (i1) the Holder gives to the Indenture Trustee written notice of a continuing Indenture Event of Default under this IndentureAgreement; (ii2) the Holders of at least 25 percent (25%) of the Outstanding % in aggregate principal amount of the Secured Notes instruct Outstanding Certificates make a written request to the Indenture Trustee to pursue the remedy; (iii3) such Holder or Holders offer to the Indenture Trustee indemnity satisfactory to the Indenture Trustee against any loss, liability or expense to be, or which may be, incurred by the Indenture Trustee in pursuing the remedy; (iv4) the Indenture Trustee does not comply with the request within 60 days after receipt of the instructions request and the offer of indemnity; and (v5) during such 60-day period, period the Holders of a Majority majority in Interest aggregate principal amount of Holders the Outstanding Certificates do not give the Indenture Trustee an instruction a direction inconsistent with the request. A Holder may not use this Indenture Agreement to prejudice the rights of another Holder or to obtain a preference or priority over another Holder.

Limitation on Suits by Holders. A Holder of a Certificate may pursue a ------------------------------ remedy under this Indenture Agreement or under a Secured Note thereunder only if: (i1) the Holder gives to the Indenture Trustee written notice of a continuing Indenture Event of Default under this IndentureAgreement; (ii2) the Holders of at least 25 percent (25%) of the Outstanding % in aggregate principal amount of the Secured Notes instruct Outstanding Certificates make a written request to the Indenture Trustee to pursue the remedy; (iii3) such Holder or Holders offer to the Indenture Trustee indemnity satisfactory to the Indenture Trustee against any loss, liability or expense to be, or which may be, incurred by the Indenture Trustee in pursuing the remedy; (iv4) the Indenture Trustee does not comply with the request within 60 days after receipt of the instructions request and the offer of indemnity; and and TRUST INDENTURE AND SECURITY AGREEMENT [N397SW] -42- 49 (v5) during such 60-day period, period the Holders of a Majority majority in Interest aggregate principal amount of Holders the Outstanding Certificates do not give the Indenture Trustee an instruction a direction inconsistent with the request. A Holder may not use this Indenture Agreement to prejudice the rights of another Holder or to obtain a preference or priority over another Holder.

Limitation on Suits by Holders. A Holder may pursue a ------------------------------ remedy under this Indenture or under a Secured Note only if: (i) the Holder gives to the Indenture Trustee written notice of a continuing Indenture Event of Default under this Indenture; (ii) the Holders of at least 25 percent (25%) of the Outstanding principal amount of the Secured Notes instruct the Indenture Trustee to pursue the remedy; (iii) such Holder or Holders offer to the Indenture Trustee indemnity satisfactory to the Indenture Trustee against any loss, liability or expense to be, or which may be, incurred by the Indenture Trustee in pursuing the remedy; (iv) the Indenture Trustee does not comply with the request within 60 days after receipt of the instructions and the offer of indemnity; and (v) during such 60-day period, a Majority in Interest of Holders do not give the Indenture Trustee an instruction 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.