Common use of Limitation on Voting of Preferred Stock Clause in Contracts

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock (“Preferred Stock”) of the Depositor in trust, for the benefit of the Noteholders, and during the continuance of a Servicer Termination Event, shall vote such stock only pursuant to the written instructions of the Majority Noteholder. The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HSBC Finance or any of its Affiliates. Concurrently with any transfer of the Home Equity Loans to the Servicer pursuant to Section 8.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all one share of the preferred stock (“Preferred Stock”) of the Depositor in trust, for the benefit of the NoteholdersCertificateholders and, and during the continuance of a Servicer Termination Event, shall vote such stock only pursuant to the written instructions of the Majority NoteholderCertificateholder. The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HSBC Finance or any of its Affiliates. Concurrently with any transfer of the Home Equity Loans to the Servicer pursuant to Section 8.019.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock (“"Preferred Stock”") of the Depositor in trust, for the benefit of the Noteholders, and during the continuance of a Master Servicer Termination Event, shall vote such stock only pursuant to the written instructions of the Majority Noteholder. The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HSBC Finance or any of its Affiliates. Concurrently with any transfer of the Home Equity Loans to the Master Servicer pursuant to Section 8.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock (“"Preferred Stock”") of the Depositor in trust, for the benefit of the Noteholders, and during the continuance of a Master Servicer Termination Event, shall vote such stock only pursuant to the written instructions of the Majority Noteholder. The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HSBC Finance HFC or any of its Affiliates. Concurrently with any transfer of the Home Equity Loans to the Master Servicer pursuant to Section 8.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock (“Preferred Stock”) of the Depositor in trust, for the benefit of the NoteholdersCertificateholders and, and during the continuance of a Servicer Termination Event, shall vote such stock only pursuant to the written instructions of the Majority NoteholderCertificateholder. The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HSBC Finance or any of its Affiliates. Concurrently with any transfer of the Home Equity Loans to the Servicer pursuant to Section 8.019.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock (“"Preferred Stock”") of the Depositor in trust, for the benefit of the Noteholders, and and, during the continuance of a Master Servicer Termination Event, shall vote such stock only pursuant to the written instructions of the Majority NoteholderNoteholders. The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HSBC Finance HFC or any of its Affiliates. Concurrently with any transfer of all of the Home Equity Mortgage Loans to the Master Servicer pursuant to Section 8.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock (“Preferred Stock”) of the Depositor in trust, for the benefit of the Noteholders, and and, during the continuance of a Master Servicer Termination Event, shall vote such stock only pursuant to the written instructions of the Majority NoteholderNoteholders. The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HSBC Finance HFC or any of its Affiliates. Concurrently with any transfer of the Home Equity Mortgage Loans to the Master Servicer pursuant to Section 8.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock (“"Preferred Stock”") of the Depositor in trust, for the benefit of the Noteholders, and and, during the continuance of a Master Servicer Termination Event, shall vote such stock only pursuant to the written instructions of the Majority NoteholderNoteholders. The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HSBC Finance HFC or any of its Affiliates. Concurrently with any transfer of the Home Equity Mortgage Loans to the Master Servicer pursuant to Section 8.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.

Limitation on Voting of Preferred Stock. The Indenture Trustee shall hold all of the preferred stock (“Preferred Stock”) of the Depositor in trust, for the benefit of the Noteholders, and and, during the continuance of a Master Servicer Termination Event, shall vote such stock only pursuant to the written instructions of the Majority Noteholder. The Indenture Trustee shall not permit a transfer of any of the Preferred Stock to HSBC Finance HFC or any of its Affiliates. Concurrently with any transfer of all of the Home Equity Mortgage Loans to the Master Servicer pursuant to Section 8.01, the Indenture Trustee shall transfer to the Depositor for cancellation all shares of Preferred Stock held by the Indenture Trustee.