Actions by Owner Trustee Clause Samples
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Actions by Owner Trustee. 17
Section 4.1 Prior Notice to Certificateholders with Respect to Certain Matters 17 Section 4.2 Action by Certificateholders with Respect to Certain Matters 18 Section 4.3 Action by Certificateholders with Respect to Bankruptcy 18 Section 4.4 Restrictions on Certificateholders’ Power 18 Section 4.5 Majority Control 18 ARTICLE V APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 19 Section 5.1 Establishment of Certificate Distribution Account 19 Section 5.2 Application of Trust Funds 19 Section 5.3 Method of Payment 20 Section 5.4 Accounting and Reports to the Certificateholders, the Internal Revenue Service and Others 21 Section 5.5 Signature on Returns; Other Tax Matters 21 ARTICLE VI THE OWNER TRUSTEE 21 Section 6.1 Duties of Owner Trustee 21 Section 6.2 Rights of Owner Trustee 22 Section 6.3 Acceptance of Trusts and Duties 22 Section 6.4 Action upon Instruction by Certificateholders 25 Section 6.5 Furnishing of Documents 25 Section 6.6 Representations and Warranties of Owner Trustee 25 Section 6.7 Reliance; Advice of Counsel 26 Section 6.8 Owner Trustee May Own Certificates and Notes 27 Section 6.9 Compensation and Indemnity 27 Section 6.10 Replacement of Owner Trustee 27 Section 6.11 Merger or Consolidation of Owner Trustee 28 Section 6.12 Appointment of Co-Trustee or Separate Trustee 28 Section 6.13 Eligibility Requirements for Owner Trustee 30 Section 6.14 Compliance with the FDIC Rule 30 Section 6.15 Notice of Events of Default 30 ARTICLE VII TERMINATION OF TRUST AGREEMENT 30 Section 7.1 Termination of Trust Agreement 30 ARTICLE VIII AMENDMENTS 32 Section 8.1 Amendments Without Consent of Certificateholders or Noteholders 32 Section 8.2 Amendments With Consent of Certificateholders and Noteholders 32 Section 8.3 Form of Amendments 33 ARTICLE IX MISCELLANEOUS 33 Section 9.1 No Legal Title to Owner Trust Estate 33 Section 9.2 Limitations on Rights of Others 33 Section 9.3 Derivative Actions 34 Section 9.4 Notices 34 Section 9.5 Severability 34 Section 9.6 Counterparts 34 Section 9.7 Successors and Assigns 34 Section 9.8 No Petition 35 Section 9.9 No Recourse 35 Section 9.10 Headings 35 Section 9.11 Governing Law 35 Section 9.12 Indemnification by and Reimbursement of the Servicer 36 Section 9.13 Effect of Amendment and Restatement 36 Section 9.14 Information to be Provided by the Owner Trustee 36 Section 9.15 Foreign Certificateholder Voting Restriction 38 EXHIBIT A Form of [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Ce...
Actions by Owner Trustee. SECTION 4.1. Prior Notice to Certificateholders with Respect to Certain Matters......................12 SECTION 4.2. Action by Certificateholders with Respect to Certain Matters............................13 SECTION 4.3. Action by Certificateholders with Respect to Bankruptcy.................................13 SECTION 4.4. Restrictions on Certificateholders' Power...............................................13 SECTION 4.5. Majority Control........................................................................13 ARTICLE V
Actions by Owner Trustee. SECTION 4.1. Prior Notice to Certificateholder with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholder in writing of the proposed action:
(a) the initiation of any claim or lawsuit on behalf of the Owner Trust (except claims or lawsuits brought to collect on the Series Certificate) and the compromise of any material action, claim or lawsuit brought by or against the Owner Trust or the Owner Trustee (except with respect to the aforementioned claims or lawsuits to collect on the Series Certificate);
(b) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is required;
(c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is not required and such amendment materially adversely affects the interest of the Certificateholder;
(d) the amendment, change or modification of the Deposit and Administration Agreement, except any amendment where the consent of the Certificateholder is not required under the terms of the Deposit and Administration Agreement; or
(e) the appointment pursuant to the Indenture of a successor Indenture Trustee or the consent to the assignment by the Note Registrar, the Paying Agent, the Indenture Trustee or the Certificate Registrar of its obligations under the Indenture. The Owner Trustee shall notify the Certificateholder in writing of any appointment of a successor Paying Agent, Authenticating Agent or Certificate Registrar within five Business Days thereof.
Actions by Owner Trustee. Prior Notice to Owners with Respect to Certain Matters.......IV-1 Section 4.2 Action by Owners with Respect to Certain Matters.............IV-3 Section 4.3 Action by Owners with Respect to Bankruptcy..................IV-3 Section 4.4 Restrictions on Owners' Power................................IV-3 Section 4.5 Majority Control.............................................IV-3 ARTICLE V APPLICATION OF TRUST FUNDS; CERTAIN DUTIES
Actions by Owner Trustee. SECTION 1 PRIOR NOTICE TO CERTIFICATEHOLDERS WITH RESPECT TO CERTAIN MATTERS. With respect to the following matters, the Owner Trustee shall not take action unless, (i) at least thirty (30) days before the taking of such action, the Owner Trustee shall have notified the Certificateholders and the Rating Agencies in writing of the proposed action and (ii) Certificateholders holding not less than a majority of the aggregate Certificate Balance shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Certificateholders have withheld consent or provided alternative direction:
(a) the initiation of any claim or lawsuit by the Trust (except claims or lawsuits brought by the Servicer in connection with the collection of the Receivables) and the settlement of any action, claim or lawsuit brought by or against the Trust (except with respect to the aforementioned claims or lawsuits for collection by the Servicer of the Receivables);
(b) the election by the Trust to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Business Trust Statute);
(c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is required;
(d) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is not required and such amendment materially adversely affects the interests of the Certificateholders;
(e) the amendment, change or modification of the Sale and Servicing Agreement or the Administration Agreement, except to cure any ambiguity or to amend or supplement any provision in a manner or add any provision that would not materially adversely affect the interests of the Certificateholders; or
(f) the appointment pursuant to the Indenture of a successor Note Registrar, Paying Agent for the Notes or Indenture Trustee or pursuant to this Agreement of a successor Certificate Registrar, or the consent to the assignment by the Note Registrar, Paying Agent for the Notes or Indenture Trustee or Certificate Registrar of its obligations under the Indenture or this Agreement, as applicable.
Actions by Owner Trustee. Section 4.01 Prior Notice with Respect to Certain Matters 18 Section 4.02 Action by Servicer with Respect to Certain Matters 20 Section 4.03 Action by Certificateholders with Respect to Bankruptcy 20 Section 4.04 Restrictions on Certificateholders’ Power 20 Section 4.05 Majority Control 20
Actions by Owner Trustee. Section 4.01. Prior Notice to Owners with Respect to Certain Matters 13 Section 4.02. Action by Owners with Respect to Certain Matters 14 Section 4.03. Action by Owners with Respect to Bankruptcy 14 Section 4.04. Restrictions on Owners’ Power 14 Section 4.05. Majority Control 15 Section 5.01. Establishment of Trust Account 15 Section 5.02. Application of Trust Funds 15 Section 5.03. Method of Payment 16 Section 5.04. No Segregation of Monies; No Interest 16 Section 5.05. Accounting and Reports to Owners, Internal Revenue Service and Others 16 Section 6.01. General Authority 17 Section 6.02. General Duties 17 Section 6.03. Action Upon Instruction 17
Actions by Owner Trustee. SECTION 4.1. Prior Notice to Certificateholder with Respect to Certain Matters.....................................9
Actions by Owner Trustee. SECTION 4.01. Prior Notice to Owners with Respect to Certain Matters........................................... 14 SECTION 4.02. Action by Owners with Respect to Certain Matters................................................... 14 SECTION 4.03. Action by Owners with Respect to Bankruptcy.................. 15 SECTION 4.04. Restrictions on Owners' Power................................ 15 SECTION 4.05. Majority Control............................................. 15 ARTICLE V
Actions by Owner Trustee. Prior Notice to Certificateholders with Respect to Certain Matters 10 Section 4.02. Action by Certificateholders with Respect to Certain Matters 11 Section 4.03. Action by Certificateholders with Respect to Bankruptcy 11 Section 4.04. Restrictions on Certificateholders’ Power 11 Section 4.05. Majority Control 11 Section 5.01. Establishment of Trust Account 12 Section 5.02. Application of Trust Funds 12 Section 5.03. Method of Payment 12 Section 5.04. No Segregation of Monies; No Interest 13 Section 5.05. Accounting and Reports to Certificateholders, Internal Revenue Service and Others 13 Section 5.06. Audit Procedure 14 Section 6.01. General Authority 15 Section 6.02. General Duties 15 Section 6.03. Action Upon Instruction 16 Section 6.04. No Duties Except as Specified in this Agreement or in Instructions 16 Section 6.05. No Action Except Under Specified Documents or Instructions 17 Section 6.06. Restrictions 17 Section 6.07. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 17 Section 7.01. Acceptance of Trusts and Duties 18 Section 7.02. Furnishing of Documents 20