Common use of Control of Remedies Clause in Contracts

Control of Remedies. The Controlling Party may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee (as Trustee or Collateral Agent, subject, in the case of any actions based on the status of the Trustee as Collateral Agent, to any limitations otherwise expressly provided for in the other Operative Documents) or exercising any trust or power conferred on it; provided that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. The Trustee may refuse to follow any direction hereunder or authorization under Section 7.4 that conflicts with law or this Indenture, that the Trustee determines may subject the Trustee to personal liability or, after a Policy Provider Default, that the Trustee determines may be unduly prejudicial to the rights of another Securityholder. However, the Trustee shall have no liability for any actions or omissions to act which are in accordance with any such direction or authorization. The Controlling Party shall not direct the Trustee or any Collateral Agent to sell or otherwise dispose of any Collateral unless all unpaid principal of, accrued but unpaid interest on, and Premium, if any, and Break Amount, if any, with respect to, the Outstanding Securities and other amounts otherwise payable under this Indenture, if any, shall be declared or otherwise become due and payable immediately.

Control of Remedies. The Controlling Party may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee (as Trustee or Collateral Agent, subject, in the case of any actions based on the status of the Trustee as Collateral Agent, to any limitations otherwise expressly provided for in the other Operative Documents) or exercising any trust or power conferred on it; provided that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. The Trustee may refuse to follow any direction hereunder or authorization under Section 7.4 that conflicts with law or this Indenture, that the Trustee determines may subject the Trustee to personal liability or, after a Policy Provider DefaultDefault or after the Securities, the Policy Expenses and the Policy Provider Obligations have been paid in full, that the Trustee determines may be unduly prejudicial to the rights of another SecurityholderNoteholder. However, the Trustee shall have no liability for any actions or omissions to act which are in accordance with any such direction or authorization. The Controlling Party shall not direct the Trustee or any Collateral Agent to sell or otherwise dispose of any Collateral unless all unpaid principal of, accrued but unpaid interest on, and Premium, if any, and Break Amount, if any, with respect to, the Outstanding Securities Notes and other amounts otherwise payable under this Indenture, if any, shall be declared or otherwise become due and payable immediately.

Control of Remedies. The Controlling Party A Majority in Interest of Noteholders may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or the Security Agent (as Trustee or Collateral Agent, subject, in the case of any actions based on the status of the Trustee as Collateral Security Agent, to any limitations otherwise expressly provided for in the other Operative Documents) or exercising any trust or power conferred on it; provided that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. The Trustee may refuse to follow any direction hereunder or authorization under Section 7.4 4.05 hereof if the Trustee has been advised by counsel that such action requested conflicts with law or this Indenture, that the Trustee determines may subject the Trustee to personal liability or, after a Policy Provider Default, or that the Trustee determines may be unduly prejudicial to the rights of another SecurityholderNoteholder. However, the Trustee shall have no liability for any actions or omissions to act which are in accordance with any such direction or authorization. The Controlling Party A Majority in Interest of Noteholders shall not direct the Trustee or any Collateral Agent to sell or otherwise dispose of any Collateral Collateral, or to instruct the Security Agent to do the same, unless all unpaid principal of, and accrued but unpaid interest on, and Premium, if any, and Break Amount, if any, with respect to, the Outstanding Securities Notes and other amounts otherwise payable under this Indenture, if any, shall be declared or otherwise become due and payable immediately.