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, the Eligible Lender Trustee shall not take action unless at least 30 days before the taking of such action the Eligible Lender Trustee shall have notified the Certificateholders in writing of the proposed action and the Majority Certificateholder shall not have notified the Eligible Lender Trustee in writing prior to the 30th day after such notice is given that the Majority Certificateholder has withheld consent:

Appears in 4 contracts

Samples: Trust Agreement (Crestar Bank /Va), Trust Agreement (Crestar Bank /Va), Trust Agreement (PNC Bank National Association/)

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Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, the Eligible Lender Trustee shall not take action unless at least 30 days before the taking of such action action, the Eligible Lender Trustee shall have notified the Certificateholders and the Rating Agencies in writing of the proposed action and the Majority Certificateholder Certificateholders shall not have notified the Eligible Lender Trustee in writing prior to the 30th day after such notice is given that the Majority Certificateholder has such Certificateholders have withheld consentconsent or provided alternative direction:

Appears in 2 contracts

Samples: Trust Agreement (Signet Student Loan Trusts), Trust Agreement (First Union Student Loan Trust 1997-1)

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Prior Notice to Certificateholders with Respect to Certain Matters. With respect to the following matters, the Eligible Lender Trustee shall not take action unless at least 30 days before the taking of such action the Eligible Lender Trustee shall have notified the Trust Certificateholders and the Surety Provider in writing of the proposed action and neither the Majority Certificateholder Trust Certificateholders nor the Surety Provider shall not have notified the Eligible Lender Trustee in writing prior to the 30th day after such notice is given that such Trust Certificateholders or the Majority Certificateholder Surety Provider has withheld consent:

Appears in 2 contracts

Samples: Trust Agreement (Transworld Insurance Co), Trust Agreement (Classnotes Inc)

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