Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing and the Notes have been accelerated under Section 5.2(a), the Indenture Trustee may, or at the written direction of the majority of the Holders of the Notes of the Controlling Class, shall do one or more of the following (subject to Sections 5.3 and 5.5):
Appears in 13 contracts
Samples: Indenture (Carvana Auto Receivables Trust 2022-P1), Indenture (Carvana Auto Receivables Trust 2022-P1), Indenture (Carvana Auto Receivables Trust 2021-P4)
Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing and the Notes have been accelerated under Section 5.2(a)continuing, the Indenture Trustee may, or shall at the written direction of the Interested Noteholders representing not less than a majority of the Holders Outstanding Amount of the applicable Classes of Notes of the Controlling Class(or such different percentage as set forth below), shall do one or more of the following (subject to Sections 5.3 and 5.5Section 5.05):
Appears in 11 contracts
Samples: www.capitaliq.spglobal.com, www.snl.com, Note Purchase Agreements (National Collegiate Student Loan Trust 2005-2)
Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing and the Notes have been accelerated under Section 5.2(a)continuing, the Indenture Trustee may, or at the written direction of the Noteholders of Notes evidencing not less than a majority of the Holders of the Notes principal amount of the Controlling ClassClass shall, shall do one or more of the following (subject to Sections 5.3 and Section 5.5):
Appears in 8 contracts
Samples: Indenture (USAA Auto Owner Trust 2008-1), Indenture (USAA Auto Owner Trust 2007-2), Indenture (USAA Auto Owner Trust 2007-1)
Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing continuing, and the Notes have been accelerated under Section 5.2(a)5.03, the Indenture Trustee mayshall, or at upon the written direction of the majority of the Holders of the Notes of the Controlling ClassRequired Noteholders (subject to Section 5.06), shall do one or more of the following (subject to Sections 5.3 and 5.5):following:
Appears in 6 contracts
Samples: Note Purchase Agreement (Conns Inc), Note Purchase Agreement (Conns Inc), Indenture (Springleaf Finance Corp)
Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing and the Notes have been accelerated under Section 5.2(a)continuing, the Indenture Trustee may, or and at the written direction of the Noteholders representing a majority of the Holders Note Balance of the Outstanding Notes of the Controlling ClassClass shall, shall do one or more of the following (subject to Sections 5.3 5.02 and 5.55.05):
Appears in 4 contracts
Samples: Trust Agreement (California Republic Auto Receivables Trust 2015-2), Trust Agreement (California Republic Funding LLC), Indenture (California Republic Funding LLC)
Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing and the Notes have been accelerated under Section 5.2(a)continuing, the Indenture Trustee may, or may and at the written direction of the majority of the Holders outstanding Controlling Class of the Notes of the Controlling Classshall, shall do one or more of the following (subject to Sections 5.3 and 5.5Section 5.05):
Appears in 4 contracts
Samples: Hyundai Abs Funding Corp, Indenture (Hyundai Abs Funding Corp), Indenture (Hyundai Abs Funding Corp)
Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing and the Notes have been accelerated under Section 5.2(a)continuing, the Indenture Trustee may, or at the written direction of the Noteholders of Notes evidencing not less than a majority of the Holders of the Notes Outstanding Amount of the Controlling Class, shall shall, do one or more of the following (subject to Sections 5.3 Section 5.5 and 5.56.2(f)):
Appears in 3 contracts
Samples: Indenture (Bear Stearns Asset Backed Whole Auto Loan Trust 2003-1), Indenture (Merrill Auto Trust Securitization 2005-1), Gmac Servicing Agreement (Bear Stearns Asset Backed Whole Auto Loan Trust 2004-1)
Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing and the Notes have been accelerated under Section 5.2(a)5.03, the Indenture Trustee mayshall, or at upon the written direction of the majority of the Holders of the Notes of the Controlling ClassRequired Noteholders (subject to Section 5.06), shall do one or more of the following (subject to Sections 5.3 and 5.5):following:
Appears in 2 contracts
Samples: Indenture (OneMain Financial Holdings, Inc.), Indenture (OneMain Financial Holdings, Inc.)
Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing and the Notes have been accelerated under Section 5.2(a)continuing, the Indenture Trustee may, or and at the written direction of the Noteholders representing a majority of the Holders Note Balance of the Outstanding Notes of the Controlling ClassClass shall, shall do one or more of the following (subject to Sections 5.3 and 5.5Section 5.05):
Appears in 1 contract
Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing and the Notes have been accelerated under Section 5.2(a)become due and payable, the Indenture Trustee may, or and shall, at the written direction of the a majority of the Holders outstanding principal amount of the Notes of comprising the Controlling Class, shall do one or more of the following (subject to Sections 5.3 and 5.5Section 5.05):
Appears in 1 contract
Samples: Indenture (Uici)
Remedies; Priorities. (a) If an Event of Default shall have occurred and be continuing and the Notes have been accelerated under Section 5.2(a), the -------------- Indenture Trustee may, or at the written direction of the majority of the Holders of the Notes of the Controlling Class, may (but shall not be required to) do one or more of the following (subject to Sections 5.3 and Section 5.5):): -----------
Appears in 1 contract
