Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Eligible Lender Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Eligible Lender Trustee under this Agreement or any of the other Basic Documents or would be contrary to Section 2.03 nor shall the Eligible Lender Trustee be permitted to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (Signet Student Loan Trusts), Trust Agreement (First Union Student Loan Trust 1997-1), Trust Agreement (Nellie Mae Education Loan Corp)
Restrictions on Certificateholders’ Power. (a) The Certificateholders shall not direct the Eligible Lender Owner Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Eligible Lender Owner Trustee under this Agreement or Agreement, any of the other 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 Eligible Lender Owner Trustee be permitted 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 holders of the Trust Certificates shall not direct the Eligible Lender Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation obligations of the Trust or the Eligible Lender 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 nor shall the Eligible Lender Trustee be permitted to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Key Bank Usa National Association), Trust Agreement (Mellon Bank N A)
Restrictions on Certificateholders’ Power. The Certificateholders holders of the Trust Certificates shall not direct the Eligible Lender Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation obligations of the Trust or the Eligible Lender Trustee under the Higher Education Act or this Agreement or any of the other Basic Documents or would be contrary to Section 2.03 nor shall the Eligible Lender Trustee be permitted to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Key Bank Usa National Association), Trust Agreement (Key Bank Usa National Association)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Eligible Lender Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to or inconsistent with any obligation of the Trust or the Eligible Lender Owner Trustee under this Owner Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.03 2.03, nor shall the Eligible Lender Owner Trustee be permitted obligated to follow any such direction, if given.
Appears in 1 contract
Samples: Trust Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11)
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Eligible Lender Owner Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Eligible Lender Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to Section 2.03 nor shall the Eligible Lender Owner Trustee be permitted obligated to follow any such direction, if given.
Appears in 1 contract
Restrictions on Certificateholders’ Power. The ----------------------------------------- Certificateholders shall not direct the Eligible Lender Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Eligible Lender Trustee under this Agreement or any of the other Basic Documents or would be contrary to Section 2.03 nor shall the Eligible Lender Trustee be permitted to follow any such direction, if given.
Appears in 1 contract
Restrictions on Certificateholders’ Power. The Certificateholders shall not direct the Eligible Lender Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Eligible Lender Trustee under this Agreement or any of the other Basic Documents or would be contrary to Section 2.03 SECTION 2.3, nor shall the Eligible Lender Trustee be permitted obligated to follow any such direction, if given.
Appears in 1 contract
Restrictions on Certificateholders’ Power. The Certificateholders holder of the Trust Certificate shall not direct the Eligible Lender Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation obligations of the Trust or the Eligible Lender 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 nor shall the Eligible Lender Trustee be permitted to follow any such direction, if given.
Appears in 1 contract
Samples: Trust Agreement (Keycorp Student Loan Trust 2004-A)
