Common use of Prior Notice to Certificateholders with Respect to Certain Matters Clause in Contracts

Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, unless the Administrator notifies the Owner Trustee that the Indenture, the Purchase Agreement or the Sale and Servicing Agreement, as applicable, provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless at least 10 days before the taking of such action (or if 10 days’ advance notice is impracticable, as much advance notice as is practicable), the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and within 10 days of such notice (or such shorter time as specified in such notice) none of the Certificateholders shall have notified the Owner Trustee in writing that such Certificateholder has withheld consent or provided alternative direction:

Appears in 133 contracts

Samples: Trust Agreement (Drive Auto Receivables Trust 2024-1), Trust Agreement (Drive Auto Receivables Trust 2024-1), Trust Agreement (Santander Drive Auto Receivables Trust 2024-1)

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Prior Notice to Certificateholders with Respect to Certain Matters. With The Owner Trustee shall not take action with respect to the following matters, unless the Administrator notifies the Owner Trustee that the Indenture, the Purchase Agreement or the Sale and Servicing Agreement, as applicable, provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless at least 10 days before the taking of such action (or if 10 days’ advance notice is impracticable, as much advance notice as is practicable), i) the Owner Trustee shall have notified the Certificateholders in writing (with a copy to the Depositor) of the proposed action and within 10 at least ten (10) days of such notice (or such shorter time period as specified in is acceptable to the Certificateholders) before the taking of such noticeaction, and (ii) none of the Majority Certificateholders shall not have notified the Owner Trustee in writing prior to the 10th day (or such shorter period acceptable to the Majority Certificateholders) after such notice is given that such Certificateholder has Majority Certificateholders have withheld consent or provided alternative direction:

Appears in 27 contracts

Samples: Trust Agreement (Carvana Auto Receivables Trust 2024-P2), Trust Agreement (Carvana Auto Receivables Trust 2024-P2), Trust Agreement (Carvana Auto Receivables Trust 2024-P3)

Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, unless the Administrator notifies provides written notice to the Owner Trustee that the Indenture, the Purchase Agreement or the Sale and Servicing Agreement, as applicable, relevant Transaction Document provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless unless, at least 10 days ten (10) Business Days before the taking of such action (or if 10 daysten (10) Business Days’ advance notice is impracticable, as much advance notice as is practicable), the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and within 10 days of such notice (or such shorter time as specified in such notice) none of the Certificateholders no Certificateholder shall have notified the Owner Trustee in writing within such notice period that such Certificateholder has withheld consent or provided alternative direction:

Appears in 16 contracts

Samples: Trust Agreement (Capital One Prime Auto Receivables Trust 2023-2), Trust Agreement (Capital One Prime Auto Receivables Trust 2023-2), Trust Agreement (Capital One Prime Auto Receivables Trust 2023-1)

Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, unless the Administrator notifies the Owner Trustee that the Indenture, the Purchase Sale Agreement or the Sale and Servicing Agreement, as applicable, provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless at least 10 thirty (30) days before the taking of such action (or if 10 days’ advance such shorter notice is impracticable, as much advance notice as is practicableacceptable to the Certificateholders), the Owner Trustee shall have notified the Certificateholders each Certificateholder in writing of the proposed action and within 10 days of such notice (or such shorter time as specified in such notice) none of the Certificateholders each Certificateholder shall not have notified the Owner Trustee in writing prior to the thirtieth (30th) day (or such shorter notice acceptable to the Certificateholders) after such notice is given that such Certificateholder has withheld consent or provided alternative direction:

Appears in 13 contracts

Samples: Trust Agreement (Fifth Third Auto Trust 2023-1), Trust Agreement (Fifth Third Auto Trust 2023-1), Trust Agreement (Fifth Third Holdings Funding, LLC)

Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, unless the Administrator notifies the Owner Trustee that the Indenture, the Purchase Agreement or the Sale and Servicing Agreement, as applicable, provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless at least 10 ten (10) days before the taking of such action (or if 10 ten (10) days’ advance notice is impracticable, as much advance notice as is practicable), the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and within 10 ten (10) days of such notice (or such shorter time as specified in such notice) none of the Certificateholders shall have notified the Owner Trustee in writing that such Certificateholder has withheld consent or provided alternative direction:

Appears in 8 contracts

Samples: Trust Agreement (Drive Auto Receivables Trust 2024-2), Trust Agreement (Drive Auto Receivables Trust 2024-2), Trust Agreement (Santander Drive Auto Receivables Trust 2024-4)

Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, unless the Administrator notifies provides written notice to the Owner Trustee that the Indenture, the Purchase Agreement or the Sale and Servicing Agreement, as applicable, relevant Transaction Document provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless unless, at least 10 ten (10) days before the taking of such action (or if 10 ten (10) days’ advance notice is impracticable, as much advance notice as is practicable), the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and within 10 days of such notice (or such shorter time as specified in such notice) none of the Certificateholders no Certificateholder shall have notified the Owner Trustee in writing within such notice period that such Certificateholder has withheld consent or provided alternative direction:

Appears in 7 contracts

Samples: Trust Agreement (Capital One Auto Receivables LLC), Trust Agreement (Huntington Auto Trust 2016-1), Trust Agreement (Huntington Auto Trust 2016-1)

Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, unless the Administrator notifies the Owner Trustee in writing that the Indenture, the Purchase Agreement or the Sale and Servicing Agreement, as applicable, provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless at least 10 ten (10) days before the taking of such action (or if 10 ten (10) days’ advance notice is impracticable, as much advance notice as is practicable), the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and within 10 ten (10) days of such notice (or such shorter time as specified in such notice) none of the Certificateholders shall have notified the Owner Trustee in writing that such Certificateholder has withheld consent or provided alternative direction:

Appears in 6 contracts

Samples: Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-3), Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-3), Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-2)

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Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, unless the Administrator notifies the Owner Trustee in writing that the Indenture, the Purchase Agreement or the Sale and Servicing Agreement, as applicable, provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless at least 10 days before the taking of such action (or if 10 days’ advance notice is impracticable, as much advance notice as is practicable), the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and within 10 days of such notice (or such shorter time as specified in such notice) none of the Certificateholders shall have notified the Owner Trustee in writing that such Certificateholder has withheld consent or provided alternative direction:

Appears in 3 contracts

Samples: Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2023-1), Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2023-1), Trust Agreement (Bridgecrest Auto Funding LLC)

Prior Notice to Certificateholders with Respect to Certain Matters. With With‌ respect to the following matters, unless the Administrator notifies provides written notice to the Owner Trustee that the Indenture, the Purchase Agreement or the Sale and Servicing Agreement, as applicable, relevant Transaction Document provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless unless, at least 10 days ten (10) Business Days before the taking of such action (or if 10 daysten (10) Business Days’ advance notice is impracticable, as much advance notice as is practicable), the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and within 10 days of such notice (or such shorter time as specified in such notice) none of the Certificateholders no Certificateholder shall have notified the Owner Trustee in writing within such notice period that such Certificateholder has withheld consent or provided alternative direction:

Appears in 2 contracts

Samples: Trust Agreement, Trust Agreement

Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, unless the Administrator notifies the Owner Trustee that the Indenture, the Purchase Sale Agreement or the Sale and Servicing Agreement, as applicable, provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless at least 10 thirty (30) days before the taking of such action (or if 10 days’ advance such shorter notice is impracticable, as much advance notice as is practicableacceptable to the Certificateholders), the Owner Trustee shall have notified the Certificateholders each Certificateholder in writing of the proposed action and within 10 days of such notice (or such shorter time as specified in such notice) none of the Certificateholders each Certificateholder shall not have notified the Owner Trustee in writing prior to the thirtieth (30th) day (or such shorter notice acceptable to the Certificateholders) after such notice is given that such Certificateholder has withheld consent or provided alternative direction:: Amended and Restated

Appears in 1 contract

Samples: Trust Agreement (Fifth Third Holdings Funding, LLC)

Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, unless the Administrator notifies the Owner Trustee that the Indenture, the Purchase Sale Agreement or the Sale and Servicing Agreement, as applicable, provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless at least 10 30 days before the taking of such action (or if 10 days’ advance such shorter notice is impracticable, as much advance notice as is practicableacceptable to the Certificateholders), the Owner Trustee shall have 12 Amended and Restated Trust Agreement (2013-A) notified the Certificateholders each Certificateholder in writing of the proposed action and within 10 days of such notice (or such shorter time as specified in such notice) none of the Certificateholders each Certificateholder shall not have notified the Owner Trustee in writing prior to the 30th day (or such shorter notice acceptable to the Certificateholders) after such notice is given that such Certificateholder has withheld consent or provided alternative direction:

Appears in 1 contract

Samples: Trust Agreement (Fifth Third Auto Trust 2013-A)

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