Common use of Removal by Controlling Class Clause in Contracts

Removal by Controlling Class. The Noteholders of a majority of the Note Balance of the Controlling Class may remove the Indenture Trustee without cause by giving notice to the Indenture Trustee and the Issuer.

Appears in 4 contracts

Samples: Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two LLC)

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Removal by Controlling Class. The Noteholders of a majority of the Note Balance of the Controlling Class may remove the Indenture Trustee without cause by giving notice to notifying the Indenture Trustee and the Issuer.

Appears in 1 contract

Samples: Indenture (Ford Credit Auto Receivables Two LLC)

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Removal by Controlling Class. The Noteholders of a majority of the Note Balance of the Controlling Class may may, without cause, remove the Indenture Trustee without cause and terminate its rights and obligations under this Indenture by giving notice to notifying the Indenture Trustee and the Issuer.

Appears in 1 contract

Samples: Indenture (CAB East LLC)

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