Restrictions on Trust Certificateholders’ Power. The Trust 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 Securitization Trust or the Owner Trustee under this Agreement or any of the Program Documents or would be contrary to Section 2.3 or 6.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 64 contracts
Samples: Trust Agreement (GM Financial Automobile Leasing Trust 2024-3), Trust Agreement (GM Financial Automobile Leasing Trust 2024-3), Trust Agreement (GM Financial Automobile Leasing Trust 2024-2)
Restrictions on Trust Certificateholders’ Power. The Trust 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 Securitization Trust Issuing Entity or the Owner Trustee under this Agreement or any of the Program other Basic Documents or would be contrary to the purpose of the Issuing Entity as set forth in Section 2.3 or 6.32.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 44 contracts
Samples: Trust Agreement (Nissan Auto Leasing LLC Ii), Trust Agreement (Nissan Auto Leasing LLC Ii), Trust Agreement (Nissan-Infiniti Lt)
Restrictions on Trust Certificateholders’ Power. The Trust 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 Securitization Trust Issuing Entity or the Owner Trustee under this Agreement or any of the Program other Basic Documents or would be contrary to the purpose of the Issuing Entity as set forth in Section 2.3 2.03, or 6.3applicable law, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 20 contracts
Samples: Trust Agreement (Nissan-Infiniti Lt LLC), Trust Agreement (Nissan Auto Lease Trust 2024-B), Trust Agreement (Nissan Auto Lease Trust 2024-B)
Restrictions on Trust Certificateholders’ Power. The Trust 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 Securitization Trust or the Owner Trustee under this Agreement or any of the Program other Basic Documents or would be contrary to the purpose of the Trust as set forth in Section 2.3 or 6.32.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (Nissan Auto Leasing LLC Ii), Trust Agreement (Nissan Auto Lease Trust 2004-A), Trust Agreement (Nissan Auto Leasing LLC Ii)
Restrictions on Trust Certificateholders’ Power. The Trust 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 Securitization Trust Issuer or the Owner Trustee under this Agreement or any of the Program other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.3 or 6.32.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 3 contracts
Samples: Trust Agreement (Ryder Truck Rental Lt), Trust Agreement (Ryder Truck Rental I Lp), Trust Agreement (Ryder Funding Ii Lp)
Restrictions on Trust Certificateholders’ Power. The Trust Certificateholders shall not direct the Owner Trustee to take or to refrain from taking any action if such action or 12 (NALT 2016-B Amended and Restated Trust Agreement) inaction would be contrary to any obligation of the Securitization Trust Issuing Entity or the Owner Trustee under this Agreement or any of the Program other Basic Documents or would be contrary to the purpose of the Issuing Entity as set forth in Section 2.3 or 6.32.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Nissan Auto Lease Trust 2016-B), Trust Agreement (Nissan Auto Lease Trust 2016-B)
Restrictions on Trust Certificateholders’ Power. The Trust 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 Securitization Trust Issuing Entity or the Owner Trustee under this Agreement or any of the Program other Basic Documents or would (NALT 20[•]-[•] Amended and Restated Trust Agreement) be contrary to the purpose of the Issuing Entity as set forth in Section 2.3 or 6.32.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Restrictions on Trust Certificateholders’ Power. The Trust 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 Securitization Trust or the Owner Trustee under this Trust Agreement or any of the Program Basic Documents or would be contrary to Section 2.3 or 6.32.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Samples: Trust Agreement (American Home Mortgage Investment Trust 2007-1)
