Common use of Whenever the Owner Trustee Clause in Contracts

Whenever the Owner Trustee. is (i) unable to decide between alternative courses of action under this Agreement or any other Transaction Document, (ii) unsure about the application of any provision of this Agreement or any other Transaction Document or it appears to be in conflict with any other applicable provision, or (iii) if this Agreement permits any determination by the Owner Trustee or is silent or is incomplete about the course of action that the Owner Trustee is required to take regarding a particular set of facts, the Owner Trustee may give appropriate notice to the Certificateholders requesting instruction and, if the Owner Trustee in good faith follows any instructions it receives, the Owner Trustee shall not be liable to the Certificateholders on account of its action or inaction. If the Owner Trustee has not received appropriate instruction within ten days of the notice (or within any shorter period necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking any action not inconsistent with this Agreement or the other Transaction Documents that it deems to be in the best interests of the Certificateholders, and shall have no liability to the Certificateholders for its action or inaction.

Whenever the Owner Trustee. is (i) unable to decide between alternative courses of action under this any Agreement or any other Transaction Document, (ii) unsure about the application of any provision of this any Agreement or any other Transaction Document or it appears to be in conflict with any other applicable provision, or (iii) if this any Agreement permits any determination by the Owner Trustee or is silent or is incomplete about the course of action that the Owner Trustee is required to take regarding a particular set of facts, the Owner Trustee may give appropriate notice to the Certificateholders requesting instruction and, if the Owner Trustee in good faith follows any instructions it receives, the Owner Trustee shall not be liable to the Certificateholders on account of its action or inaction. If the Owner Trustee has not received appropriate instruction within ten days of the notice (or within any shorter period necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking any action not inconsistent with this the Agreement or the other Transaction Documents that it deems to be in the best interests of the Certificateholders, and shall have no liability to the Certificateholders for its action or inaction.

Whenever the Owner Trustee. is (i) unable to decide between alternative courses of action under this Agreement permitted or any other Transaction Document, (ii) unsure about required by the application of any provision terms of this Agreement or under any other Transaction Document or it appears to be in conflict with any other applicable provision, or (iii) if this Agreement permits any determination by the Owner Trustee or is silent or is incomplete about the course of action that the Owner Trustee is required to take regarding a particular set of factsBasic Document, the Owner Trustee may shall promptly give notice (in such form as shall be appropriate notice under the circumstances) to the Certificateholders requesting instruction andas to the course of action to be adopted, if and to the extent the Owner Trustee acts in good faith follows in accordance with any instructions it receiveswritten instruction of the Certificateholders with aggregate Percentage Interests of 51% or more received, the Owner Trustee shall not be liable to the Certificateholders on account of its such action or inactionto any Person. If the Owner Trustee has shall not have received appropriate instruction from the Certificateholders with aggregate Percentage Interests of 51% or more within ten 10 days of the such notice (or within any such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking any action such action, not inconsistent with this Agreement or the other Transaction Documents that Basic Documents, as it deems shall deem to be in the best interests of the Certificateholders, and shall have no liability to the Certificateholders any Person for its such action or inaction.