Common use of Power of Trustee to Control Proceedings Clause in Contracts

Power of Trustee to Control Proceedings. In the event that the Trustee, upon the happening of an Event of Default, shall have taken any action, by judicial proceedings or otherwise, pursuant to its duties hereunder, whether upon its own discretion or upon the request of the Owners of a majority in principal amount of the Bonds then Outstanding, it shall have full power, in the exercise of its discretion for the best interests of the Owners of the Bonds, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall not, unless there no longer continues an Event of Default, discontinue, withdraw, compromise or settle, or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners of a majority in principal amount of the Outstanding Bonds hereunder opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

Power of Trustee to Control Proceedings. In the event that the Trustee, upon the happening of an Event of Default, shall have taken any action, by judicial proceedings or otherwise, pursuant to its duties hereunder, whether upon its own discretion or upon the request of the Owners holders of a majority in principal amount of the Bonds then Outstanding, it shall have full power, in the exercise of its discretion for the best interests of the Owners holders of the Bonds, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall not, unless there no longer continues an Event of DefaultDefault hereunder, discontinue, withdraw, compromise or settle, or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners holders of at least a majority in principal amount of the Bonds Outstanding Bonds hereunder opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

Power of Trustee to Control Proceedings. In the event that If the Trustee, upon the happening of an Event of Default, shall have taken takes any action, by judicial proceedings or otherwise, pursuant to under its duties hereunder, whether upon its own discretion or upon the request direction of the Owners of a majority in aggregate principal amount of the Bonds Certificates then Outstanding, it shall have has full power, in the exercise of its discretion for the best interests of the Owners of the BondsCertificates, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall not, unless there no longer continues an Event of Default, discontinue, withdraw, compromise or settle, or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners of a majority in aggregate principal amount of the Outstanding Bonds hereunder Certificates opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

Power of Trustee to Control Proceedings. In the event that the Trustee, upon the happening occurrence of an Event of Default, shall have taken any action, by judicial proceedings or otherwise, pursuant to its duties hereunder, whether upon its own discretion or upon the request of the Owners of a majority in principal amount of the Bonds Certificates then Outstanding, it shall have full power, in the exercise of its discretion for the best interests interest of the Certificate Owners of the Bonds, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall not, unless there no longer continues an Event of Default, discontinue, withdraw, compromise or settle, settle or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners of at least a majority in principal amount of the Outstanding Bonds Certificates hereunder opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

Power of Trustee to Control Proceedings. In the event that the Trustee, upon the happening of an Event of Default, shall will have taken any action, by judicial proceedings or otherwise, pursuant to its duties hereunder, whether upon its own discretion discretion, or upon the request of the Owners of a majority in principal amount of the Bonds Certificates then Outstanding, it shall will have full power, power in the exercise of its discretion for the best interests of the Owners of the Bondssuch Certificates, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall will not, unless there no longer continues an Event of DefaultDefault hereunder, discontinue, withdraw, compromise or settle, or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners of at least a majority in principal amount of the Certificates Outstanding Bonds hereunder opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

Power of Trustee to Control Proceedings. In the event that the Trustee, upon the happening of an Event of Default, shall have taken any action, by judicial proceedings or otherwise, pursuant to its duties hereunder, whether upon its own discretion or upon the request of the Owners of a majority in principal amount of the Bonds Certificates then Outstanding, it shall have full power, in the exercise of its discretion for the best interests of the Owners of the BondsCertificates, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall not, unless there no longer continues an Event of DefaultDefault hereunder, discontinue, withdraw, compromise or settle, or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners of at least a majority in principal amount of the Certificates Outstanding Bonds hereunder opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

Power of Trustee to Control Proceedings. In the event that the Trustee, upon the happening of an Event of Default, shall have taken any action, by judicial proceedings or otherwise, pursuant to its duties hereunder, whether upon its own discretion discretion, or upon the request of the Owners of a majority in principal amount of the Bonds Certificates then Outstanding, it shall have full power, in the exercise of its discretion for the best interests interest of the Owners of the BondsCertificates, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall not, unless there no longer continues an Event of Default, discontinue, withdraw, compromise or settle, or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners of at least a majority in principal amount of the Outstanding Bonds Certificates hereunder opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

Power of Trustee to Control Proceedings. In the event that the Trustee, upon the happening of an Event of Default, shall have taken any action, by judicial proceedings or otherwise, pursuant to its duties hereunder, whether upon its own discretion or upon the request of the Owners of a majority in aggregate principal amount of the Bonds Certificates then Outstandingoutstanding pursuant to Section 7.7 hereof, it shall have full power, in the exercise of its discretion reasonable judgment for the best interests of the Owners of the BondsCertificates, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall not, unless there no longer continues an Event of DefaultDefault hereunder, discontinue, withdraw, compromise or settle, or otherwise dispose of of, any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners of at least a majority in principal amount of the Certificates Outstanding Bonds hereunder opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

Power of Trustee to Control Proceedings. In the event that the Trustee, upon the happening of an Event of Default, shall have taken any action, by judicial proceedings or otherwise, pursuant to its duties hereunder, whether upon its own discretion or upon the written request of the Owners holders of a majority in principal amount of the Bonds then Outstandingoutstanding, it shall have full power, in the exercise of its discretion for the best interests of the Owners holders of the Bonds, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall not, unless there no longer continues an Event of DefaultDefault hereunder, discontinue, withdraw, compromise or settle, or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners holders of at least a majority in principal amount of the Outstanding Bonds outstanding hereunder opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

Power of Trustee to Control Proceedings. In the event that If the Trustee, upon the happening of an Event of Default, shall have taken takes any action, by judicial proceedings or otherwise, pursuant to under its duties hereunder, whether upon its own discretion or upon the request direction of the Owners of a majority in aggregate principal amount of the Bonds Certificates then Outstanding, it shall have has full power, in the exercise of its discretion for the best interests of the Owners of the BondsCertificates, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall not, unless there no longer continues an Event of Default, discontinue, withdraw, compromise or settle, or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Certificate Insurer or (with the prior written consent of the Certificate Insurer) by the Owners of a majority in aggregate principal amount of the Outstanding Bonds hereunder Certificates opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

Power of Trustee to Control Proceedings. In the event that the Trustee, upon the happening of an Event of Default, shall have taken any action, by judicial proceedings or otherwise, pursuant to its duties hereunder, whether upon its own discretion or upon the request of the Owners of a majority in principal amount of the Bonds Notes then Outstanding, it shall have full power, power in the exercise of its discretion for the best interests interest of the Owners of the BondsOwners, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action; provided, however, that the Trustee shall not, unless there no longer continues an Event of Default, discontinue, withdraw, compromise or settle, or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners of at least a majority in principal amount of the Outstanding Bonds hereunder Notes opposing such continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.