Common use of Limitation on Suits by Noteholders Clause in Contracts

Limitation on Suits by Noteholders. No Holder of any Note shall have any right by virtue or by availing of any provision of this Indenture to institute any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or with respect to this Indenture or such Security, or for the appointment of a trustee, receiver, liquidator, custodian or other similar official or for any other remedy hereunder or thereunder, unless (a) such Holder previously shall have given to the Trustee written notice of an Event of Default with respect to Notes and of the continuance thereof, as hereinbefore provided, and (b) the Holders of not less than 25% in aggregate principal amount of the Notes then outstanding shall have made written request upon the Trustee to institute such action or proceedings in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and (c) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity shall have failed to institute any such action or proceeding, and (d) no direction inconsistent with such written request shall have been given to the Trustee pursuant to Section 6.09. For the protection and enforcement of the provisions of this Section, each and every Noteholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.

Limitation on Suits by Noteholders. No Holder of any Note of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or with respect to this Indenture or such SecurityNote of a series, or for the appointment of a trustee, receiver, liquidator, custodian or other similar official or for any other remedy hereunder or thereunder, unless (a) such Holder previously shall have given to the Trustee written notice of an Event of Default with respect to the Notes of that series and of the continuance thereof, as hereinbefore provided, and (b) the Holders of not less than 25% in aggregate principal amount of the Notes then outstanding Outstanding of such series shall have made written request upon the Trustee to institute such action or proceedings proceeding in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity as satisfactory to it may require against the costs, expenses and liabilities to be incurred therein or thereby, and (c) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity shall have failed to institute any such action or proceeding, and (d) no direction inconsistent with such written request shall have been given to the Trustee pursuant to Section 6.09. For the protection and enforcement of the provisions of this SectionSection 6.06, each and every Noteholder Holder of Notes of such series and the Trustee shall be entitled to such relief as can be given either at law or in equity.

Limitation on Suits by Noteholders. No Holder of any Note shall have any right by virtue or by availing of any provision of this Indenture to institute any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or with respect to this Indenture or such Security, or for the appointment of a trustee, receiver, liquidator, custodian or other similar official or for any other remedy hereunder or thereunder, unless (a) such Holder previously shall have given to the Trustee written notice of an Event of Default with respect to Notes and of the continuance thereof, as hereinbefore provided, and (b) the Holders of not less than 25% in aggregate principal amount of the Notes then outstanding shall have made written request upon the Trustee to institute such action or proceedings in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and (c) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity shall have failed to institute any such action or proceeding, and (d) no direction inconsistent with such written request shall have been given to the Trustee pursuant to Section 6.09. For the protection and enforcement of the provisions of this Section, each and every Noteholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.. Table of Contents

Limitation on Suits by Noteholders. No Holder of any Note shall have any right by virtue to institute any suit, action or by availing of any provision proceeding in equity or at law for the enforcement of this Indenture to institute or for the execution of any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or with respect to this Indenture or such Security, trust hereof or for the appointment of a trustee, receiver, liquidator, custodian receiver or other similar official or for any other remedy hereunder or thereunder, unless (a1) such Holder previously shall have given to the Trustee written notice of an Event of Default with respect to Notes shall have occurred and of the continuance thereofbe continuing, as hereinbefore provided, and (b2) the Holders of not less than twenty-five percent (25% %) in aggregate principal amount Principal Amount of the Notes then outstanding Outstanding shall have made written request upon to the Trustee to institute Trustee, (3) such action Noteholder or proceedings in its own name as Trustee hereunder and Noteholders shall have offered to the Trustee such reasonable indemnity indemnity, as it may require against the costsprovided in Section 8.1 hereof, expenses and liabilities to be incurred therein or thereby, and (c4) the Trustee shall have thereafter failed for 60 a period of sixty (60) days after its the receipt of such notice, the request and offer of indemnity shall have failed indemnification or refused to exercise the powers hereinbefore granted or to institute any such action action, suit or proceeding, proceeding in its own name and (d5) no direction inconsistent with such written request shall have been given to the Trustee pursuant to Section 6.09. For during such sixty (60)-day period by the protection and enforcement Holders of not less than a majority in aggregate Principal Amount of the provisions Notes then Outstanding; it being understood and intended that no one or more Holders of the Notes shall have any right in any manner whatsoever to affect, disturb or prejudice the lien of this SectionIndenture by its, each his, her or their action or to enforce any right hereunder except in the manner herein provided, and every Noteholder and the Trustee shall be entitled to such relief as can be given either that all proceedings at law or in equityequity shall be instituted, had and maintained in the manner herein provided and for the benefit of the Holders of all Outstanding Notes hereunder as their interests may appear hereunder; provided, however, that, notwithstanding the foregoing provisions of this Section 6.8, the Acting Holders Upon Default may institute any such suit, action or proceeding in their own names for the benefit of the Holders of all Outstanding Notes hereunder.