Common use of Proceedings Clause in Contracts

Proceedings. No Noteholder has the right to start a proceeding under this Indenture or for the appointment of a receiver or trustee, or for any other remedy under this Indenture, unless: (i) the Noteholder has notified the Indenture Trustee of a continuing Event of Default; (ii) the Noteholders of at least 25% of the Note Balance of the Controlling Class have requested the Indenture Trustee to start the proceeding for the Event of Default in its own name as Indenture Trustee under this Indenture; (iii) the Noteholders have offered reasonable indemnity satisfactory to the Indenture Trustee against fees, expenses, losses, damages, claims and liabilities that may be incurred by the Indenture Trustee, or its agents, counsel, accountants and experts, in complying with the request; (iv) the Indenture Trustee has failed to start the proceedings for 60 days after it receives the notice, request and offer of indemnity; and (v) the Noteholders of a majority of the Note Balance of the Controlling Class have not given the Indenture Trustee a direction inconsistent with the request during that 60 day period.

Proceedings. No Noteholder has the right to start a proceeding Proceeding under this Indenture or for the appointment of a receiver or trustee, or for any other remedy under this Indenture, unlessunless all of the following have occurred: (i) the Noteholder has notified the Indenture Trustee of a continuing Event of DefaultDefault with respect to Group 1; (ii) the Noteholders of at least 25% of the Note Balance of the Controlling Class have requested the Indenture Trustee to start the proceeding Proceeding for the Event of Default with respect to Group 1 in its own name as Indenture Trustee under this Indenture; (iii) the Noteholders have offered reasonable indemnity satisfactory to the Indenture Trustee against fees, expenses, losses, damages, claims and any liabilities that may be incurred by the Indenture Trustee, or its agents, counsel, accountants and experts, in complying with the request; (iv) the Indenture Trustee has failed to start the proceedings Proceedings for 60 sixty (60) days after it receives the notice, request and offer of indemnity; and (v) the Noteholders of a majority of the Note Balance of the Controlling Class have not given the Indenture Trustee a direction inconsistent with the request during that 60 day sixty (day) period.

Proceedings. No Noteholder has the right to start a proceeding Proceeding under this Indenture or for the appointment of a receiver or trustee, or for any other remedy under this Indenture, unless: (i) the Noteholder has notified the Indenture Trustee of a continuing Event of Default; (ii) the Noteholders of at least 25% of the Note Balance of the Controlling Class have requested the Indenture Trustee to start the proceeding Proceeding for the Event of Default in its own name as Indenture Trustee under this Indenture; (iii) the Noteholders have offered reasonable indemnity satisfactory to the Indenture Trustee against fees, expenses, losses, damages, claims and liabilities that may be incurred by the Indenture Trustee, or its agents, counsel, accountants and experts, in complying with the request; (iv) the Indenture Trustee has failed to start the proceedings Proceedings for 60 days after it receives the notice, request and offer of indemnity; and (v) the Noteholders of a majority of the Note Balance of the Controlling Class have not given the Indenture Trustee a direction inconsistent with the request during that 60 day period.

Proceedings. No Noteholder has the right to start a proceeding Proceeding under this Indenture or for the appointment of a receiver or trustee, or for any other remedy under this Indenture, unless: (i) the Noteholder has notified given notice to the Indenture Trustee of a continuing Event of Default; (ii) the Noteholders of at least 25% of the Note Balance of the Controlling Class have requested the Indenture Trustee to start the proceeding Proceeding for the Event of Default in its own name as Indenture Trustee under this Indenture; (iii) the Noteholders have offered reasonable indemnity satisfactory to the Indenture Trustee against fees, expenses, losses, damages, claims and liabilities that may be incurred by the Indenture Trustee, or its agents, counsel, accountants and experts, in complying with the request; (iv) the Indenture Trustee has failed to start the proceedings Proceedings for 60 days after it receives its receipt of the notice, request and offer of indemnity; and (v) the Noteholders of a majority of the Note Balance of the Controlling Class have not given the Indenture Trustee a direction inconsistent with the request during that 60 day period.

Proceedings. No Noteholder has the right to start a proceeding Proceeding under this Indenture or for the appointment of a receiver or trustee, or for any other remedy under this Indenture, unless: (i) the Noteholder has notified given notice to the Indenture Trustee of a continuing Event of Default; (ii) the Noteholders of at least 25% of the Note Balance of the Controlling Class have requested the Indenture Trustee to start the proceeding Proceeding for the Event of Default in its own name as Indenture Trustee under this Indenture; (iii) the Noteholders have offered reasonable indemnity satisfactory to the Indenture Trustee against feescosts, expenses, losses, damages, claims and liabilities that may be incurred by the Indenture Trustee, or its agents, counsel, accountants and experts, in complying with the request; (iv) the Indenture Trustee has failed to start the proceedings Proceedings for 60 days after it receives its receipt of the notice, request and offer of indemnity; and (v) the Noteholders of a majority of the Note Balance of the Controlling Class have not given the Indenture Trustee a direction inconsistent with the request during that 60 day period.