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 2.3 nor shall the Eligible Lender Trustee be permitted to follow any such direction, if given.
Appears in 15 contracts
Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (PNC Bank National Association/), Trust Agreement (Transworld Insurance Co)
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 2.3 2.03 nor shall the Eligible Lender Trustee be permitted to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (Nellie Mae Education Loan Corp), Trust Agreement (First Union Student Loan Trust 1997-1), Trust Agreement (Signet Student Loan Trusts)
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 2.3 nor shall the Eligible Lender Trustee be 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. 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 2.3 2.03 nor shall the Eligible Lender Trustee be permitted to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Mellon Bank N A), Trust Agreement (Key Bank Usa National Association)
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 2.3 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 Trust Agreement or any of the other Basic Documents or would be contrary to Section 2.3 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 (C-Bass Mortgage Loan as-BCK Nt Sal Mort Ln Tr Ser 2001-Cb4)
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 2.3 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)
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 2.3 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 2.3 SECTION 2.3, nor shall the Eligible Lender Trustee be permitted obligated to follow any such direction, if given.
Appears in 1 contract
