Authorization of Actions to Be Taken by the Trustee. (a) The Trustee may take all actions it deems necessary or appropriate in order to enforce or exercise its rights under each Series Supplement in accordance with and subject to the provisions thereof. Subject to the provisions thereof, the Trustee shall have power to institute and to maintain suits and proceedings to prevent any impairment of the related Series Trust Estate by any acts which may be unlawful or in violation of the related Series Supplement or this Master Agreement, and suits and proceedings to preserve or protect its interests and the interests of the Holders of the related Notes and any Series Support Provider in the related Series Trust Estate (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security hereunder or be prejudicial to the interests of such Holders, any such Series Support Provider or the Trustee). (b) The Trustee is authorized to receive any funds for the benefit of the Holders and any Series Support Provider distributed under the related Series Supplement and to make further distributions of such funds to the Holders of the related Notes and any Series Support Providers according to the provisions of such Series Supplement.
Appears in 2 contracts
Sources: Master Lease Receivables Asset Backed Financing Facility Agreement (Marlin Business Services Inc), Master Lease Receivables Asset Backed Financing Facility Agreement (Marlin Business Services Inc)
Authorization of Actions to Be Taken by the Trustee. (a) The Trustee may take all actions it deems necessary or appropriate in order to enforce or exercise its rights under each Series Supplement in accordance with and subject to the provisions thereofthereof and hereof. Subject to the provisions thereofthereof and hereof, the Trustee shall have power to institute and to maintain suits and proceedings to prevent any impairment of the related Series Trust Estate by any acts which may be unlawful or in violation of the related Series Supplement or this Master Agreement, and suits and proceedings to preserve or protect its interests and the interests of the Holders of the related Notes and any Series Support Provider in the related Series Trust Estate (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security hereunder or be prejudicial to the interests of such Holders, any such Series Support Provider Holders or of the Trustee).
(b) The Trustee is authorized to receive any funds for the benefit of the Holders and any Series Support Provider distributed under the related Series Supplement and to make further distributions of such funds to the Holders of the related Notes and any Series Support Providers according to the provisions of such Series Supplement.
Appears in 2 contracts
Sources: Master Facility Agreement (Advanta Leasing Receivables Corp Ix), Master Facility Agreement (Advanta Leasing Receivables Corp Ix)
Authorization of Actions to Be Taken by the Trustee. (a) The Trustee may take all actions it deems necessary or appropriate in order to enforce or exercise its rights under each Series Supplement in accordance with and subject to the provisions thereofthereof and hereof and, subject to the provisions of Section 11.03(e) of this Master Agreement, shall take action in order to enforce or exercise such rights under a Series Supplement in accordance with the terms of such Series Supplement and subject to the limitations therein, upon the written direction of the holders of such amount of the Notes of such Series as shall be provided in the Series Supplement. Subject to the provisions thereofthereof and hereof, the Trustee shall have power to institute and to maintain suits and proceedings to prevent any impairment of the related Series Trust Estate by any acts which may be unlawful or in violation of the related Series Supplement or this Master Agreement, and suits and proceedings to preserve or protect its interests and the interests of the Holders of the related Notes and any Series Support Provider in the related Series Trust Estate (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security hereunder or be prejudicial to the interests of such Holders, any such Series Support Provider or the Trustee).
(b) The Trustee is authorized to receive any funds for the benefit of the Holders and any Series Support Provider distributed under the related Series Supplement and to make further distributions of such funds to the Holders of the related Notes and any Series Support Providers according to the provisions of such Series Supplement.or
Appears in 1 contract
Sources: Master Facility Agreement (Advanta Business Services Corp)
Authorization of Actions to Be Taken by the Trustee. (a) The Trustee may take all actions it deems necessary or appropriate in order to enforce or exercise its rights under each Series Supplement in accordance with and subject to the provisions thereof. Subject to the provisions thereof, the Trustee shall have power to institute and to maintain suits and proceedings to prevent any impairment of the related Series Trust Estate by any acts which may be unlawful or in violation of the related Series Supplement or this Master Agreement, and suits and proceedings to preserve or protect its interests and the interests of the Holders of the related Notes and any Series Support Provider in the related Series Trust Estate (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security hereunder or be prejudicial to the interests of such Holders, any such Series Support Provider Holders or of the Trustee).
(b) The Trustee is authorized to receive any funds for the benefit of the Holders and any Series Support Provider distributed under the related Series Supplement and to make further distributions of such funds to the Holders of the related Notes and any Series Support Providers according to the provisions of such Series Supplement.
Appears in 1 contract