Limitations on Noteholders. Subject as provided in Condition 11.3 (Approval of Modifications and Waivers by Noteholders): (a) an Extraordinary Resolution of the Class A Noteholders shall be binding on all Class Z Noteholders; and (b) no Extraordinary Resolution of the Class Z Noteholders shall take effect for any purpose while any Class A Notes remain outstanding unless it shall have been sanctioned by an Extraordinary Resolution of the Class A Noteholders or the Note Trustee is of the opinion that it would not be materially prejudicial to the respective interests of the Class A Noteholders.
Appears in 3 contracts
Sources: Second Supplemental Note Trust Deed, Third Supplemental Note Trust Deed, Fourth Supplemental Note Trust Deed