Authority and Duties of the Owner Trustee Action by Certificateholders Clause Samples

Authority and Duties of the Owner Trustee Action by Certificateholders. Section 5.01. General Authority.
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Authority and Duties of the Owner Trustee Action by Certificateholders. Section 5.01. General Authority. 16 Section 5.02. General Duties. 16 Section 5.03. Action Upon Instruction. 16 Section 5.04. No Duties Except as Specified under Specified Documents or in Instructions. 17 Section 5.05. Restrictions. 17 Section 5.06. Prior Notice to the Holder with Respect to Certain Matters; Separateness Covenants. 18 Section 5.07. Action by the Holder with Respect to Bankruptcy. 20 Section 5.08. Restrictions on the Holder’s Power. 20 Section 6.01. Acceptance of Trusts and Duties. 20 Section 6.02. Furnishing of Documents. 21 Section 6.03. Books and Records. 21 Section 6.04. Representations and Warranties. 22 Section 6.05. Reliance; Advice of Counsel. 23 Section 6.06. Not Acting in Individual Capacity. 24 Section 6.07. Owner Trustee Not Liable for Ownership Certificate or Collateral. 24 Section 6.08. Owner Trustee May Own Ownership Certificate and Notes. 24 Section 6.09. Licenses. 25 Section 6.10. Doing Business in Other Jurisdictions. 25 Section 7.01. Trust Expenses. 25 Section 7.02. Indemnification. 25 Section 7.03. Compensation. 26 Section 7.04. Lien on Trust Estate. 26 Section 8.01. Termination of Agreement. 27 Section 9.01. Eligibility Requirements for Owner Trustee. 27 Section 9.02. Resignation or Removal of Owner Trustee. 28 Section 9.03. Successor Owner Trustee. 28 Section 9.04. Merger or Consolidation of Owner Trustee. 29 Section 9.05. Appointment of Co-Trustee or Separate Trustee. 29
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Authority and Duties of the Owner Trustee Action by Certificateholders. SECTION 5.01. General Authority SECTION 5.02. General Duties. 17 SECTION 5.03. Action Upon Instruction.
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Authority and Duties of the Owner Trustee Action by Certificateholders 
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Related to Authority and Duties of the Owner Trustee Action by Certificateholders

  • Directions by Certificateholders and Duties of Trustee During Event of Default During the continuance of any Event of Default, Holders of Certificates evidencing in the aggregate not less than 25% of the aggregate Voting Interest represented by all Certificates may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Agreement; provided, however, that the Trustee shall be under no obligation to pursue any such remedy, or to exercise any of the rights or powers vested in it by this agreement (including, without limitation, (i) the conducting or defending of any administrative action or litigation hereunder or in relation hereto and (ii) the terminating of the Master Servicer from its rights and duties as servicer hereunder) at the request, order or direction of any of the Certificateholders, unless such Certificateholders shall have offered to the Trustee reasonable security or indemnity against the cost, expenses and liabilities which may be incurred therein or thereby and, provided further, that, subject to the provisions of Section 8.01, the Trustee shall have the right to decline to follow any such direction if the Trustee, in accordance with an Opinion of Counsel, determines that the action or proceeding so directed may not lawfully be taken or if the Trustee in good faith determines that the action or proceeding so directed would involve it in personal liability or be unjustly prejudicial to the nonassenting Certificateholders.

  • Authority and Duties of Owner Trustee Section 6.01.

  • 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

  • Limitation of Liability of Owner Trustee and Indenture Trustee (a) Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by BNY Mellon Trust of Delaware, not in its individual capacity but solely as Owner Trustee and in no event shall BNY Mellon Trust of Delaware have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuing Entity hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuing Entity. For all purposes of this Agreement, in the performance of any duties or obligations of the Issuing Entity hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by Deutsche Bank Trust Company Americas, not in its individual capacity but solely in its capacity as Indenture Trustee and in no event shall Deutsche Bank Trust Company Americas have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuing Entity hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuing Entity. For all purposes of this Agreement, in the performance of any duties or obligations of the Issuing Entity hereunder, the Indenture Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Indenture.

  • Limitation of Liability of Indenture Trustee and Owner Trustee (a) Notwithstanding anything contained herein to the contrary, this Agreement has been acknowledged and accepted by Deutsche Bank Trust Company Americas, not in its individual capacity but solely as Indenture Trustee and in no event shall Deutsche Bank Trust Company Americas have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuing Entity hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuing Entity. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Issuing Entity hereunder, the Indenture Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Indenture. (b) Notwithstanding anything contained herein to the contrary, this Agreement has been executed by BNY Mellon Trust of Delaware not in its individual capacity but solely in its capacity as Owner Trustee of the Issuing Entity and in no event shall BNY Mellon Trust of Delaware in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee of the Issuing Entity have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuing Entity hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuing Entity. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Issuing Entity hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Trust Agreement.