Examples of Highest Priority Obligations in a sentence
The Registered Owners of a majority of the Highest Priority Obligations, in the case of any Master Servicer default which does not adversely affect the Trustee may, on behalf of all Noteholders, waive any default by the Master Servicer hereunder, except a default in making any required deposits to or payments from any of the funds established under the Indenture.
If at any time the Master Servicer defaults by failure or refusal to perform in a material fashion and such default remains unremedied within thirty (30) days after receipt of written notice, then the Trustee or the Registered Owners of not less than 25% of the Highest Priority Obligations may terminate all the rights and obligations of Master Servicer upon thirty (30) days' written notice.
If at any time the Servicer defaults by failure or refusal to perform in a material fashion and such default remains unremedied within thirty (30) days after receipt of written notice, then the Trustee or the holders of not less than 25% of the Highest Priority Obligations may terminate all the rights and obligations of Servicer upon thirty (30) days' written notice.
The holders of a majority of the Highest Priority Obligations, in the case of any Servicer default which does not adversely affect the Trustee or the holders of a majority of the Highest Priority Obligations may, on behalf of all Noteholders, waive any default by the Servicer hereunder, except a default in making any required deposits to or payments from any of the funds established under the Indenture.
The Indenture Trustee shall give such notice if requested to do so in writing by the Registered Owners of at least a majority of the principal amount of the Highest Priority Obligations at the time Outstanding ("Registered Owner Approval").
The Indenture Trustee shall take any such action or actions if requested to do so in writing by the Registered Owners of at least a majority of the principal amount of the Highest Priority Obligations at the time Outstanding.
If at any time the Master Servicer defaults by failure or refusal to perform in a material fashion and such default remains unremedied within thirty (30) days after receipt of written notice, then the Trustee or the holders of not less than 25% of the Highest Priority Obligations may terminate all the rights and obligations of Master Servicer upon thirty (30) days' written notice.
Subject to Section 5.14, the Trust, with the consent of the Indenture Trustee or Noteholders evidencing not less than a majority of the Highest Priority Obligations, may waive in writing any default by the Contractor in the performance of its obligations under this Agreement, and any consequences thereof to the extent provided in such waiver.
The holders of a majority of the Highest Priority Obligations, in the case of any Master Servicer default which does not adversely affect the Trustee or the holders of a majority of the Highest Priority Obligations may, on behalf of all Noteholders, waive any default by the Master Servicer hereunder, except a default in making any required deposits to or payments from any of the funds established under the Indenture.
The Trustee may give any such notice in its discretion and shall give such notice if requested to do so in writing by the Registered Owners of at least 51% of the collective aggregate principal amount of the Highest Priority Obligations at the time Outstanding.