Non-Unanimous Directions. If the Indenture Trustee elects to retain the Collateral under Section 5.7, then a direction to the Indenture Trustee by Noteholders of less than 100% of the Note Balance of the Controlling Class to sell or liquidate the Collateral will not be effective.
Appears in 122 contracts
Samples: Indenture (Ford Credit Auto Lease Trust 2025-A), Indenture (Ford Credit Auto Lease Trust 2025-A), Indenture (Ford Credit Auto Owner Trust 2024-D)