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

Prior Notice to Trust Certificateholders with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, with respect to the following matters, the Owner Trustee shall not take action unless (i) the Owner Trustee has notified the Trust Certificateholders and the Rating Agencies in writing of the proposed action at least 30 days before the taking of such action and (ii) the Owner Trustee has not received written notification from Trust Certificateholders representing at least 25% of the Certificate Balance prior to the 30th day after such notice is given that such Trust Certificateholders have withheld consent or provided alternative direction: (a) the initiation of any claim or lawsuit by the Issuing Entity and the compromise of any action, claim or lawsuit brought by or against the Issuing Entity (other than an action brought by the Servicer on behalf of the Titling Trust and Persons having interests in the 2009-B SUBI Certificate to collect amounts owed under a 2009-B Lease or 2009-B Vehicle); (b) the election by the Issuing Entity to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute); (c) the amendment of the Indenture in circumstances where the consent of any Noteholder is required; (d) the amendment of any Basic Document other than pursuant to, and in accordance with, the amendment provision set forth in such Basic Document; or (e) the appointment a successor Owner Trustee or successor Indenture Trustee.

Prior Notice to Trust Certificateholders with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, with respect to the following matters, the Owner Trustee shall not take action unless (i) the Owner Trustee has notified the Trust Certificateholders and the Rating Agencies in writing of the proposed action at least 30 days before the taking of such action and (ii) the Owner Trustee has not received written notification from Trust Certificateholders representing at least 25% of the Certificate Balance prior to the 30th day after such notice is given that such Trust Certificateholders have withheld consent or provided alternative direction: (a) the initiation of any claim or lawsuit by the Issuing Entity and the compromise of any action, claim or lawsuit brought by or against the Issuing Entity (other than an action brought by the Servicer on behalf of the Titling Trust and Persons having interests in the 20092007-B A SUBI Certificate to collect amounts owed under a 20092007-B A Lease or 20092007-B A Vehicle); (b) the election by the Issuing Entity to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute); (c) the amendment of the Indenture in circumstances where the consent of any Noteholder or the Swap Counterparty is required; (d) the amendment of any Basic Document other than pursuant to, and in accordance with, the amendment provision set forth in such Basic Document; or (e) the appointment a successor Owner Trustee or successor Indenture Trustee.

Prior Notice to Trust Certificateholders with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, with respect to the following matters, the Owner Trustee shall not take action unless (i) the Owner Trustee has notified the Trust Certificateholders and the Rating Agencies in writing of the proposed action at least 30 days before the taking of such action and (ii) the Owner Trustee has not received written notification from Trust Certificateholders representing at least 25% of the Certificate Balance prior to the 30th day after such notice is given that such Trust Certificateholders have withheld consent or provided alternative direction: (a) the initiation of any claim or lawsuit by the Issuing Entity and the compromise of any action, claim or lawsuit brought by or against the Issuing Entity (other than an action brought by the Servicer on behalf of the Titling Trust and Persons having interests in the 20092006-B A SUBI Certificate to collect amounts owed under a 20092006-B A Lease or 20092006-B A Vehicle); (b) the election by the Issuing Entity to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute); (c) the amendment of the Indenture in circumstances where the consent of any Noteholder is required; (d) the amendment of any Basic Document other than pursuant to, and in accordance with, the amendment provision set forth in such Basic Document; or (e) the appointment a successor Owner Trustee or successor Indenture Trustee.

Prior Notice to Trust Certificateholders with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, with respect to the following matters, the Owner Trustee shall not take action unless (i) the Owner Trustee has notified the Trust Certificateholders and the Rating Agencies in writing of the proposed action at least 30 days before the taking of such action and (ii) the Owner Trustee has not received written notification from Trust Certificateholders representing at least 25% of the Certificate Balance have not notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Trust Certificateholders have withheld consent or provided alternative direction: (a) the initiation of any claim or lawsuit by the Issuing Entity Trust and the compromise of any action, claim or lawsuit brought by or against the Issuing Entity Trust (other than an action brought by the Servicer on behalf of the Titling Trust and Persons having interests in the 20092005-B A SUBI Certificate to collect amounts owed under a 20092005-B A Lease or 20092005-B A Vehicle); (b) the election by the Issuing Entity Trust to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute); (c) the amendment of the Indenture in circumstances where the consent of any Noteholder is required; (d) the amendment of any Basic Document other than pursuant to, and in accordance with, the amendment provision set forth in such Basic Document; or (e) the appointment a successor Owner Trustee or successor Indenture Trustee.

Prior Notice to Trust Certificateholders with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, with respect to the following matters, the Owner Trustee shall not take action unless (i) the Owner Trustee has notified the Trust Certificateholders and the Rating Agencies in writing of the proposed action at least 30 days before the taking of such action and (ii) the Owner Trustee has not received written notification from Trust Certificateholders representing at least 25% of the Certificate Balance prior to the 30th day after such notice is given that such Trust Certificateholders have withheld consent or provided alternative direction: (a) the initiation of any claim or lawsuit by the Issuing Entity and the compromise of any action, claim or lawsuit brought by or against the Issuing Entity (other than an action brought by the Servicer on behalf of the Titling Trust and Persons having interests in the 20092008-B A SUBI Certificate to collect amounts owed under a 20092008-B A Lease or 20092008-B A Vehicle); (b) the election by the Issuing Entity to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute); (c) the amendment of the Indenture in circumstances where the consent of any Noteholder or the Swap Counterparty is required; (d) the amendment of any Basic Document other than pursuant to, and in accordance with, the amendment provision set forth in such Basic Document; or (e) the appointment a successor Owner Trustee or successor Indenture Trustee.

Prior Notice to Trust Certificateholders with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, with respect to the following matters, the Owner Trustee shall not take action unless (i) the Owner Trustee has notified the Trust Certificateholders and the Rating Agencies in writing of the proposed action at least 30 [30] days before the taking of such action and (ii) the Owner Trustee has not received written notification from Trust Certificateholders representing at least 25% [25]% of the Certificate Balance have not notified the Owner Trustee in writing prior to the 30th [30th] day after such notice is given that such Trust Certificateholders have withheld consent or provided alternative direction: (a) the initiation of any claim or lawsuit by the Issuing Entity Trust and the compromise of any action, claim or lawsuit brought by or against the Issuing Entity Trust (other than an action brought by the Servicer on behalf of the Titling Trust and Persons having interests in the 2009200[ ]-B [ ] SUBI Certificate to collect amounts owed under a 2009200[ ]-B [ ] Lease or 2009200[ ]-B [ ] Vehicle); (b) the election by the Issuing Entity Trust to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute); (c) the amendment of the Indenture in circumstances where the consent of any Noteholder is required; (d) the amendment of any Basic Document other than pursuant to, and in accordance with, the amendment provision set forth in such Basic Document; or (e) the appointment a successor Owner Trustee or successor Indenture Trustee.

Prior Notice to Trust Certificateholders with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, with respect to the following matters, the Owner Trustee shall not take action unless (i) the Owner Trustee has notified the Trust Certificateholders and the Rating Agencies in writing of the proposed action at least 30 days before the taking of such action and (ii) the Owner Trustee has not received written notification from Trust Certificateholders representing at least 25% of the Certificate Balance prior to the 30th day after such notice is given that such Trust Certificateholders have withheld consent or provided alternative direction: (a) the initiation of any claim or lawsuit by the Issuing Entity and the compromise of any action, claim or lawsuit brought by or against the Issuing Entity (other than an action brought by the Servicer on behalf of the Titling Trust and Persons having interests in the 2009-B A SUBI Certificate to collect amounts owed under a 2009-B A Lease or 2009-B A Vehicle); (b) the election by the Issuing Entity to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute); (c) the amendment of the Indenture in circumstances where the consent of any Noteholder is required; (d) the amendment of any Basic Document other than pursuant to, and in accordance with, the amendment provision set forth in such Basic Document; or (e) the appointment a successor Owner Trustee or successor Indenture Trustee.