Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 258 contracts
Samples: Trust Agreement, Trust Agreement (Opteum Mortgage Acceptance CORP), Trust Agreement (Shellpoint Mortgage Acceptance LLC)
Restrictions on Certificateholders’ Power. (a) The Certificateholders Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 230 contracts
Samples: Trust Agreement (GM Financial Consumer Automobile Receivables Trust 2024-4), Trust Agreement (GM Financial Consumer Automobile Receivables Trust 2024-4), Trust Agreement (GM Financial Consumer Automobile Receivables Trust 2024-3)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Transaction Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 174 contracts
Samples: Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-4), Trust Agreement (Bridgecrest Lending Auto Securitization Trust 2024-4), Trust Agreement (Santander Drive Auto Receivables Trust 2024-5)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.032.03 or contrary to applicable law, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 108 contracts
Samples: Trust Agreement (World Omni Auto Receivables Trust 2024-C), Trust Agreement (World Omni Auto Receivables Trust 2024-C), Trust Agreement (World Omni Auto Receivables Trust 2024-B)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, ; nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 103 contracts
Samples: Amended and Restated Trust Agreement (BMW Vehicle Owner Trust 2024-A), Trust Agreement (BMW Vehicle Owner Trust 2024-A), Amended and Restated Trust Agreement (BMW Vehicle Owner Trust 2023-A)
Restrictions on Certificateholders’ Power. The Certificateholders No Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement Agreement, including Section 2.3 of this Agreement, or any of the other Basic Documents or would be contrary to Section 2.03Documents, nor shall the Owner Trustee be obligated to follow any such direction, if given. The Certificateholders shall not and shall not direct the Owner Trustee to take action that would violate the provisions of Section 6.1 and, if given, the Owner Trustee shall not be obligated to follow any such direction.
Appears in 94 contracts
Samples: Trust Agreement (Ally Auto Receivables Trust 2024-2), Trust Agreement (Ally Auto Receivables Trust 2024-2), Trust Agreement (Ally Auto Receivables Trust 2024-1)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 79 contracts
Samples: Trust Agreement (CNH Equipment Trust 2024-C), Trust Agreement (CNH Equipment Trust 2024-B), Trust Agreement (CNH Equipment Trust 2024-A)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic other Transaction Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 77 contracts
Samples: Trust Agreement (CarMax Auto Owner Trust 2024-4), Trust Agreement (Carmax Auto Funding LLC), Trust Agreement (CarMax Auto Owner Trust 2024-3)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 68 contracts
Samples: Trust Agreement (Honda Auto Receivables 2024-4 Owner Trust), Trust Agreement (Honda Auto Receivables 2024-4 Owner Trust), Trust Agreement (Honda Auto Receivables 2024-3 Owner Trust)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation obligations of the Trust or of the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 66 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2015-C Owner Trust), Trust Agreement (Nissan Auto Receivables 2015-C Owner Trust), Trust Agreement (Nissan Auto Receivables Corp Ii)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 63 contracts
Samples: Trust Agreement (Mmca Auto Owner Trust 2000-2), Trust Agreement (Daimler Benz Vehicle Receivables Corp), Trust Agreement (Mmca Auto Receivables Trust)
Restrictions on Certificateholders’ Power. (a) The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 57 contracts
Samples: Trust Agreement (Exeter Automobile Receivables Trust 2024-5), Trust Agreement (Exeter Automobile Receivables Trust 2024-5), Trust Agreement (Exeter Automobile Receivables Trust 2024-4)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 56 contracts
Samples: Trust Agreement (Phoenix Residential Securities, LLC), Trust Agreement (Phoenix Residential Securities, LLC), Trust Agreement (BellaVista Finance CORP)
Restrictions on Certificateholders’ Power. The Certificateholders Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Transaction Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 50 contracts
Samples: Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Vw Credit Leasing LTD)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 48 contracts
Samples: Trust Agreement (Textron Financial Corp), Trust Agreement (Navistar Financial Corp), Trust Agreement (Navistar Financial Corp)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 40 contracts
Samples: Trust Agreement (Daimler Trucks Retail Trust 2024-1), Trust Agreement (Daimler Trucks Retail Trust 2024-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2024-1)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic other Transaction Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 40 contracts
Samples: Trust Agreement (CarMax Auto Owner Trust 2015-4), Trust Agreement (CarMax Auto Owner Trust 2015-3), Trust Agreement (CarMax Auto Owner Trust 2015-2)
Restrictions on Certificateholders’ Power. The Certificateholders A Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such that action or inaction would be contrary to any obligation of the Trust Trust, or the Owner Trustee under this Trust Agreement or any of the Basic other Transaction Documents or would be contrary to Section 2.03, nor shall the . The Owner Trustee shall not be obligated to follow any such direction, that direction if given.
Appears in 37 contracts
Samples: Trust Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-G), Trust Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-E), Trust Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-D)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Transaction Documents or would be contrary to Section 2.032.03 or contrary to applicable law, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 36 contracts
Samples: Trust Agreement (World Omni LT), Trust Agreement (World Omni LT), Trust Agreement (World Omni LT)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement Agreement, including Section 2.3 of this Agreement, or any of the other Basic Documents or would be contrary to Section 2.03Documents, nor shall the Owner Trustee be obligated to follow any such direction, if given. The Certificateholders shall not and shall not direct the Owner Trustee to take action that would violate the provisions of Section 6.1 and, if given, the Owner Trustee shall not be obligated to follow any such direction.
Appears in 33 contracts
Samples: Trust Agreement (Ally Auto Receivables Trust 2012-2), Trust Agreement (Ally Auto Receivables Trust 2012-2), Trust Agreement (Ally Auto Receivables Trust 2012-1)
Restrictions on Certificateholders’ Power. The Certificateholders No Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Transaction Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 28 contracts
Samples: Trust Agreement (Fifth Third Holdings Funding, LLC), Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Fifth Third Auto Trust 2015-1)
Restrictions on Certificateholders’ Power. The Certificateholders No Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement Agreement, including Section 2.3, or any of the Basic Documents or would be contrary to Section 2.03other Transaction Documents, nor shall the Owner Trustee be obligated to follow any such direction, if given. The Certificateholders shall not and shall not direct the Owner Trustee to take action that would violate the provisions of Section 6.1 and, if given, the Owner Trustee shall not be obligated to follow any such direction.
Appears in 27 contracts
Samples: Trust Agreement (Carvana Auto Receivables Trust 2024-P2), Trust Agreement (Carvana Auto Receivables Trust 2024-P2), Trust Agreement (Carvana Auto Receivables Trust 2024-P3)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 26 contracts
Samples: Trust Agreement (USAA Auto Owner Trust 2007-1), Trust Agreement (Usaa Acceptance LLC), Trust Agreement (USAA Auto Owner Trust 2007-2)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation obligations of the Trust Issuer or of the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 24 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2019-C Owner Trust), Trust Agreement (Nissan Auto Receivables 2019-C Owner Trust), Trust Agreement (Nissan Auto Receivables 2019-B Owner Trust)
Restrictions on Certificateholders’ Power. (a) The Certificateholders shall not direct the Board or the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given, to the extent that the Owner Trustee has actual knowledge or has been advised that such action or inaction would be contrary to the applicable provisions.
Appears in 22 contracts
Samples: Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp)
Restrictions on Certificateholders’ Power. The Certificateholders Certificateholder shall not direct the Owner either Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner such Trustee under this Trust Agreement or any of the Basic Transaction Documents or would be contrary to Section 2.032.3, nor shall the Owner such Trustee be obligated to follow any such direction, if given.
Appears in 22 contracts
Samples: Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 22 contracts
Samples: Trust Agreement (Chase Auto Owner Trust 2006-A), Trust Agreement (Chase Auto Owner Trust 2005-A), Trust Agreement (Chase Auto Owner Trust 2005-B)
Restrictions on Certificateholders’ Power. (a) The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 or otherwise contrary to law nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 20 contracts
Samples: Trust Agreement (HSBC Automotive Trust (USA) 2006-3), Trust Agreement (Household Automotive Trust 2004-1), Trust Agreement (HSBC Auto Receivables Corp)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 20 contracts
Samples: Trust Agreement (Wells Fargo Financial Auto Owner Trust 2005-A), Trust Agreement (Ace Sec Corp Wells Fargo Financial Auto Owner Trust 2004-A), Bas Securitization LLC
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation obligations of the Trust Issuer or of the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, or applicable law, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 18 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2024-B Owner Trust), Trust Agreement (Nissan Auto Receivables 2024-B Owner Trust), Trust Agreement (Nissan Auto Receivables 2024-a Owner Trust)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Eligible Lender Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Eligible Lender Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Eligible Lender Trustee be obligated permitted to follow any such direction, if given.
Appears in 15 contracts
Samples: Trust Agreement (Crestar Bank /Va), Trust Agreement (Classnotes Inc), Trust Agreement (Crestar Bank /Va)
Restrictions on Certificateholders’ Power. (a) The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 14 contracts
Samples: Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents Operative Agreements or would be contrary to Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 14 contracts
Samples: Trust Agreement (Saxon Asset Securities Trust 2005-1), Trust Agreement (Sast 2006-3), Trust Agreement (Saxon Asset Securities Trust 2004-2)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 13 contracts
Samples: Trust Agreement (Accredited Mortgage Loan Trust 2003-3), Trust Agreement (Accredited Home Lenders Inc Mortgage Loan Trust 2004-1), Trust Agreement (Accredited Mortgage Loan Trust 2005-2)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuing Entity or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 12 contracts
Samples: Trust Agreement (NovaStar Mortgage Funding Trust, Series 2006-1), Trust Agreement (Accredited Mortgage Loan REIT Trust), Trust Agreement (NovaStar Certificates Financing CORP)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to the purposes of the Issuer as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 11 contracts
Samples: Trust Agreement (WDS Receivables LLC), Trust Agreement (Wachovia Auto Owner Trust 2008-A), Trust Agreement (Wachovia Auto Loan Owner Trust 2007-1)
Restrictions on Certificateholders’ Power. The Certificateholders Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Owner Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 10 contracts
Samples: Owner Trust Agreement (Credit Suisse First Boston Mor Ac Corp CSFB Abs Tr 2002 Hi23), Trust Agreement (Nomura Asset Acceptance Corp), Trust Agreement (Nomura Home Equity Loan, Inc.)
Restrictions on Certificateholders’ Power. The Certificateholders A Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such that action or inaction would be contrary to any obligation of the Trust Trust, or the Owner Trustee under this Trust Agreement or any of the Basic other Transaction Documents or would be contrary to Section 2.03, nor shall the . The Owner Trustee shall not be obligated to follow any such direction, that direction if given.
Appears in 10 contracts
Samples: Trust Agreement (CWABS Revolving Home Equity Loan Trust, Series 2004-O), Trust Agreement (CWABS Revolving Home Equity Loan Trust, Series 2004-G), Trust Agreement (CWABS Revolving Home Equity Loan Trust, Series 2004-N)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 10 contracts
Samples: Trust Agreement (Gs Mortgage Securities Corp), Trust Agreement (Gs Mortgage Securities Corp), Trust Agreement (Chec Asset Receivables Corp)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement Agreement, including Section 2.3 of this Agreement, or any of the Basic Documents or would be contrary to Section 2.03Documents, nor shall the Owner Trustee be obligated to follow any such direction, if given. The Certificateholders shall not and shall not direct the Owner Trustee to take action that would violate the provisions of Section 6.1 and, if given, the Owner Trustee shall not be obligated to follow any such direction.
Appears in 10 contracts
Samples: Trust Agreement (Capital Auto Receivables Inc), Trust Agreement (Capital Auto Receivables Inc), Trust Agreement (Capital Auto Receivables Inc)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Transaction Documents or would cause a violation of any of the Transaction Documents or would be contrary to or inconsistent with Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 9 contracts
Samples: Trust Agreement (Hercules Capital, Inc.), Trust Agreement (Horizon Technology Finance Corp), Trust Agreement (Hercules Capital, Inc.)
Restrictions on Certificateholders’ Power. The Certificateholders shall not (a) No Certificateholder will direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall will the Owner Trustee be obligated to follow any such direction, if given.
Appears in 9 contracts
Samples: Trust Agreement (Triad Financial Special Purpose LLC), Trust Agreement (Triad Financial Special Purpose LLC), Trust Agreement (Triad Financial Special Purpose LLC)
Restrictions on Certificateholders’ Power. The Certificateholders No Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to (i) any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Documents or Transaction Documents, (ii) would be contrary to Section 2.032.3, or (iii) applicable law, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 8 contracts
Samples: Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Usaa Acceptance LLC)
Restrictions on Certificateholders’ Power. (a) The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Operative Documents or would be contrary to Section 2.03, 2.3 or otherwise contrary to law nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 8 contracts
Samples: Trust Agreement (Advanta Mortgage Conduit Services Inc), Trust Agreement (Advanta Revolving Home Equity Loan Trust 1999-A), Trust Agreement (Advanta Mortgage Conduit Services Inc)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given. The Certificateholders shall not and shall not direct the Owner Trustee to take action that would violate the provisions of Section 6.1 and, if given, the Owner Trustee shall not be obligated to follow any such direction.
Appears in 8 contracts
Samples: Trust Agreement (Capital Auto Receivables Inc), Trust Agreement (Central Originating Lease Trust), Trust Agreement (Central Originating Lease Trust)
Restrictions on Certificateholders’ Power. The Certificateholders A Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such that action or inaction would be contrary to any obligation of the Trust Trust, any subtrust of the Trust, or the Owner Trustee under this Master Trust Agreement or any of the Basic other Transaction Documents or would be contrary to Section 2.03, nor shall the . The Owner Trustee shall not be obligated to follow any such direction, that direction if given.
Appears in 7 contracts
Samples: Master Trust Agreement (Cwabs Inc Revolving Home Equity Loan Notes Series 2004-C), Master Trust Agreement (Cwabs Master Trust Series 2004-B), Master Trust Agreement (Cwabs Inc Revolving Home Eq Loan Asset BKD Notes Ser 2001-B)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to determine if a Certificateholder's direction violates this Section 4.4 or to follow any such direction, if given.
Appears in 7 contracts
Samples: Trust Agreement (Barnett Auto Receivables Corp), Trust Agreement (Ace Securities Corp), Trust Agreement (Mellon Auto Receivables Corp)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 6 contracts
Samples: Trust Agreement (Caterpillar Financial Funding Corp), Trust Agreement (Caterpillar Financial Funding Corp), Trust Agreement (Caterpillar Financial Asset Trust 2008-A)
Restrictions on Certificateholders’ Power. The Certificateholders (a) No Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 6 contracts
Samples: Trust Agreement (Long Beach Acceptance Receivables Corp. II), Trust Agreement (Long Beach Acceptance Corp. Auto Receivables Trust 2006-A), Trust Agreement (Long Beach Acceptance Auto Receivables Trust 2005-B)
Restrictions on Certificateholders’ Power. The ----------------------------------------- Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 6 contracts
Samples: Trust Agreement (Navistar Financial Retail Receivables Corporation), Trust Agreement (Navistar Financial Retail Receivables Corporation), Trust Agreement (Navistar Financial Retail Receivables Corporation)
Restrictions on Certificateholders’ Power. The Certificateholders Certificateholder shall not direct the Owner Trustee Trustees to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner such Trustee under this Trust Agreement or any of the Basic Transaction Documents or would be contrary to Section 2.032.3, nor shall the Owner such Trustee be obligated to follow any such direction, if given.
Appears in 5 contracts
Samples: Trust Agreement (Volkswagen Auto Lease Trust 2011-A), Trust Agreement (Volkswagen Auto Lease Trust 2011-A), Trust Agreement (Volkswagen Auto Lease Trust 2010-A)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to determine if a Certificateholder’s direction violates this Section 4.4 or to follow any such direction, if given.
Appears in 5 contracts
Samples: Trust Agreement (Franklin Auto Trust 2008-A), Trust Agreement (Franklin Receivables LLC), Trust Agreement (Franklin Auto Trust 2006-1)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Transaction Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 5 contracts
Samples: Trust Agreement (Capital One Auto Finance Trust 2002-A), Trust Agreement (Capital One Auto Receivables LLC), Trust Agreement (Capital One Auto Finance Trust 2002-C)
Restrictions on Certificateholders’ Power. The Certificateholders Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 5 contracts
Samples: Trust Agreement (Caterpillar Financial Asset Trust 2006-A), Trust Agreement (Caterpillar Financial Asset Trust 2005-A), Trust Agreement (Caterpillar Financial Funding Corp)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, ; nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (GS Auto Loan Trust 2005-1), Trust Agreement (Gs Auto Loan Trust 2004-1), Trust Agreement (GS Auto Loan Trust 2007-1)
Restrictions on Certificateholders’ Power. (a) The Certificateholders Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03SECTION 2.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (UPFC Auto Receivables Trust 2006-A), Trust Agreement (UPFC Auto Receivables Trust 2007-B), Trust Agreement (UPFC Auto Receivables Trust 2006-B)
Restrictions on Certificateholders’ Power. (a) . (a) The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or Agreement, any of the Basic Documents or any Series Related Documents or would be contrary to Section 2.03, 2.3 or otherwise contrary to law nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (Household Automotive Trust Iv Series 2000-1), Trust Agreement (Household Automotive Trust v Series 2000 2), Execution (Household Automobile Revolving Trust I)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (Household Consumer Loan Trust 1997-1), Trust Agreement (Household Consumer Loan Trust 1997-2), Trust Agreement (Household Consumer Loan Trust 1997-1)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (M&i Dealer Auto Securitization LLC), Trust Agreement (M&i Dealer Auto Securitization LLC), Trust Agreement (M&i Auto Loan Trust 2002-1)
Restrictions on Certificateholders’ Power. The Certificateholders Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (American Home Mortgage Investment Trust 2007-2), Trust Agreement (American Home Mortgage Investment Trust 2006-1), Trust Agreement (American Home Mortgage Investment Trust 2006-3)
Restrictions on Certificateholders’ Power. The Certificateholders and the Credit Enhancer shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (MSCC HELOC Trust 2007-1), Trust Agreement (Heloc Asset-Backed Notes Series 2003-2), Trust Agreement (Morgan Stanley ABS Capital I Inc. MSDWCC HELOC Trust 2005-1)
Restrictions on Certificateholders’ Power. The Certificateholders No Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to (i) any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Documents Transaction Documents, (ii) Section 2.3 or would be contrary to Section 2.03(iii) applicable law, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (Fifth Third Auto Trust 2019-1), Trust Agreement (Fifth Third Auto Trust 2019-1), Trust Agreement (Fifth Third Auto Trust 2017-1)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement (including Section 2.03 hereof) or any of the other Basic Documents or would be contrary to Section 2.03, Documents; nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (Merrill Auto Trust Securitization 2008-1), Trust Agreement (Merrill Auto Trust Securitization 2005-1), Trust Agreement (Merrill Auto Trust Securitization 2007-1)
Restrictions on Certificateholders’ Power. The Neither the Insurer nor the Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic other Transaction Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (Pooled Auto Securities Shelf LLC), Trust Agreement (Pooled Auto Securities Shelf LLC), Trust Agreement (Carmax Auto Funding LLC)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Operative Documents or would be contrary to Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Deposit Trust Agreement (Sequoia Mortgage Funding Corp), Deposit Trust Agreement (American Residential Eagle Inc), Deposit Trust Agreement (American Residential Eagle Inc)
Restrictions on Certificateholders’ Power. The ----------------------------------------- Certificateholders shall not direct the Owner Eligible Lender Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Eligible Lender Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Eligible Lender Trustee be obligated permitted to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp)
Restrictions on Certificateholders’ Power. (a) The Certificateholders shall not direct the Board or the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp)
Restrictions on Certificateholders’ Power. The Certificateholders Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (Ally Wholesale Enterprises LLC), Trust Agreement (SWIFT Master Auto Receivables Trust), Trust Agreement (Wholesale Auto Receivables LLC)
Restrictions on Certificateholders’ Power. (a) The Certificateholders shall Certificateholder will not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall will the Owner Trustee be obligated to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (Triad Automobile Receivables Trust 2002 A), Trust Agreement (Bond Securitization LLC), Trust Agreement (Triad Automobile Receivables Trust 2003-B)
Restrictions on Certificateholders’ Power. (a) The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or Agreement, any of the Basic Documents or any Series Related Documents or would be contrary to Section 2.03, 2.3 or otherwise contrary to law nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (Household Auto Receivables Corp), Trust Agreement (Household Auto Receivables Corp), Trust Agreement (Household Auto Receivables Corp)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.032.03 hereof, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (SG Mortgage Securities, LLC), Trust Agreement (Residential Asset Mortgage Products Inc), Trust Agreement (Gmacm Home Equity Loan Trust 2003-He2)
Restrictions on Certificateholders’ Power. The Certificateholders holder of the Trust Certificate shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation obligations of the Trust or the Owner Trustee under the Higher Education Act or this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.03, 2.03 nor shall the Owner Trustee be obligated permitted to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (KeyCorp Student Loan Trust 2005-A), Trust Agreement (KeyCorp Student Loan Trust 2006-A), Trust Agreement (Key Consumer Receivables LLC)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 2016-B Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement, Trust Agreement (Mercedes-Benz Auto Lease Trust 2016-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2016-B)
Restrictions on Certificateholders’ Power. (a) The Certificateholders Certificateholder[s] shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (Afs Sensub Corp.), Trust Agreement (Afs Sensub Corp.), Trust Agreement (Afs Sensub Corp.)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the other Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 3 contracts
Samples: Trustee Trust Agreement (Irwin Whole Loan Home Equity Trust 2005-A), Trustee Trust Agreement (Irwin Whole Loan Home Equity Trust 2004 A), Trust Agreement (Bear Stearns Asset Backed Sec Inc Irwin Home Eq Lo Tr 2001-2)
Restrictions on Certificateholders’ Power. (1) The Certificateholders shall not direct the Board or the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given, to the extent that the Owner Trustee has actual knowledge or has been advised that such action or inaction would be contrary to the applicable provisions.
Appears in 3 contracts
Samples: Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp), Trust Agreement (Credit Acceptance Corp)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 2024-B Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2024-B)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 2023-A Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2023-A)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 201[__]-[__] Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Daimler Trust), Trust Agreement (Daimler Trust)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 2018-A Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2018-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2018-A)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 2020-B Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-B)
Restrictions on Certificateholders’ Power. (a) The ----------------------------------------- Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Prudential Securities Secured Financing Corp), Trust Agreement (Prudential Securities Secured Financing Corp)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Transaction Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.given.
Appears in 2 contracts
Samples: Trust Agreement, Trust Agreement
Restrictions on Certificateholders’ Power. The Certificateholders No Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to (i) any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Documents Transaction Documents, (ii) Section 2.3 or would be contrary to Section 2.03(iii) applicable law, nor shall the Owner Trustee be obligated to follow any such direction, if given, or be liable if the Owner Trustee refrains to follow such direction.
Appears in 2 contracts
Samples: Trust Agreement (Fifth Third Auto Trust 2023-1), Trust Agreement (Fifth Third Auto Trust 2023-1)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 2019-B Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-B), Trust Agreement (Mercedes-Benz Auto Lease Trust 2019-B)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 2016-A Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2016-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2016-A)
Restrictions on Certificateholders’ Power. The ----------------------------------------- Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Lehman Abs Corp), Trust Agreement (Ml Asset Backed Corp)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Bank One Auto Securitization Trust 2003-1), Trust Agreement (Bank One Auto Securitization LLC)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Related Documents or would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (GE Capital Credit Card Master Note Trust), Trust Agreement (Cef Equipment Holding LLC)
Restrictions on Certificateholders’ Power. The No Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement Agreement, including Section 2.3 of this Agreement, or any of the other Basic Documents or would be contrary to Section 2.03Documents, nor shall the Owner Trustee be obligated to follow any such direction, if given. The Certificateholders shall not and shall not direct the Owner Trustee to take action that would violate the provisions of Section 6.1 and, if given, the Owner Trustee shall not be obligated to follow any such direction.
Appears in 2 contracts
Samples: Trust Agreement (Ally Auto Receivables Trust 2012-3), Trust Agreement (Ally Auto Receivables Trust 2012-3)
Restrictions on Certificateholders’ Power. The Certificateholders and the Enhancer shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the other Basic Documents Document or would be contrary to Section 2.03Sections 2.03 or 2.11, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Bear Stearns Asset Backed Securities Inc), Trust Agreement (Irwin Home Equity Loan Trust 2004-1)
Restrictions on Certificateholders’ Power. (a) The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, ss. 2.3 or otherwise contrary to law nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Advanta Automobile Receivables Trust 1997-2), Trust Agreement (Advanta Automobile Receivables 1998-1)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 2020-A Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2020-A)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Accredited Mortgage Loan Trust 2005-3), Trust Agreement (Accredited Mortgage Loan Trust 2005-4)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction (i) would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the other Basic Documents or (ii) would be contrary to Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Chase Manhattan Bank Usa), Trust Agreement (Chase Manhattan Bank Usa)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 2012-A Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2012-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2012-A)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation obligations of the Trust Issuer or of the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.. 14 (NAROT 2018-C Amended & Restated Trust Agreement)
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Receivables 2018-C Owner Trust), Trust Agreement (Nissan Auto Receivables 2018-C Owner Trust)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust Issuer or the Owner Trustee under this Trust Agreement or any of the 2017-A Basic Documents Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Mercedes-Benz Auto Lease Trust 2017-A), Trust Agreement (Mercedes-Benz Auto Lease Trust 2017-A)
Restrictions on Certificateholders’ Power. (a) The Certificateholders Certificate-holders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Operative Documents or would be contrary to Section 2.03, 2.3 or otherwise contrary to law nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (J P Morgan Acceptance Corp I), Trust Agreement (Advanta Conduit Receivables Inc)
Restrictions on Certificateholders’ Power. The ----------------------------------------- Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Trust Agreement or any of the Basic Documents or would be contrary to Section 2.032.03 or contrary to applicable law, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (World Omni Auto Receivables LLC), Trust Agreement (World Omni Auto Receivables LLC)
