Common use of Majority Control Clause in Contracts

Majority Control. Except as expressly provided herein, any action that may be taken or consent that may be given or withheld by the Certificateholders under this Agreement shall be effective if such action is taken or such consent is given or withheld by the Majority Certificateholders as of the close of the preceding Distribution Date. Except as expressly provided herein, any written notice, instruction, direction or other document of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by the Majority Certificateholders at the time of the delivery of such notice.

Appears in 78 contracts

Sources: Trust Agreement (Ally Auto Assets LLC), Trust Agreement (Ally Auto Receivables Trust 2024-2), Trust Agreement (Ally Auto Receivables Trust 2024-2)

Majority Control. Except as expressly provided herein, any action that may be taken or consent that may be given or withheld by the Certificateholders under this Agreement shall be effective if such action is taken or such consent is given or withheld by the Majority Certificateholders as of the close of the preceding Distribution Date. Except as expressly provided herein, any written notice, instruction, direction or other document of the Majority Certificateholders delivered pursuant to this Agreement shall be effective if signed by the Majority Certificateholders at the time of the delivery of such noticeCertificateholders.

Appears in 36 contracts

Sources: Trust Agreement (Carvana Receivables Depositor LLC), Trust Agreement (Carvana Auto Receivables Trust 2024-P2), Trust Agreement (Carvana Auto Receivables Trust 2024-P2)

Majority Control. Except as expressly provided herein, any action that may be taken or consent that may be given or withheld by the Certificateholders under this Agreement shall be effective if such action is taken or such consent is given or withheld by the Majority Certificateholders as Holders of Certificates evidencing not less than a majority of the close of the preceding Distribution DateVoting Interests thereof. Except as expressly provided herein, any written notice, instruction, direction or other document notice of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by Holders of Certificates evidencing not less than a majority of the Majority Certificateholders Voting Interests at the time of the delivery of such notice.

Appears in 20 contracts

Sources: Trust Agreement (Ally Wholesale Enterprises LLC), Trust Agreement (Wholesale Auto Receivables Corp), Trust Agreement (Superior Wholesale Inventory Financing Trust Ix)

Majority Control. Except as expressly provided herein, any action that may be taken or consent that may be given or withheld by the Certificateholders under this Agreement shall be effective if such action is taken or such consent is given or withheld by the Majority Certificateholders as of the close of the preceding Distribution Date. Except as expressly provided herein, any written notice, instruction, direction or other document of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by the Majority Certificateholders at the time of the delivery of such notice.

Appears in 19 contracts

Sources: Trust Agreement (Ally Auto Receivables Trust 2016-2), Trust Agreement (Ally Auto Receivables Trust 2016-2), Trust Agreement (Ally Auto Assets LLC)

Majority Control. Except as expressly provided herein, any action that may be taken or consent that may be given or withheld by the Certificateholders under this Agreement shall be effective if such action is taken or such consent is given or withheld by the Majority Certificateholders Holders of a majority of the ownership interest in the Trust outstanding as of the close of the preceding Distribution Date. Except as expressly provided herein, any written notice, instruction, direction or other document of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by Holders of Certificates evidencing not less than a majority of the Majority Certificateholders ownership interest in the Trust at the time of the delivery of such notice.

Appears in 16 contracts

Sources: Trust Agreement (Navistar Financial Corp), Trust Agreement (Navistar Financial 2004-B Owner Trust), Trust Agreement (Navistar Financial Corp)

Majority Control. Except as expressly provided herein, (i) any action that may be taken or consent that may be given or withheld by the Certificateholders under this Agreement shall may be effective if such action is taken or such consent is given or withheld by the Majority Certificateholders as of the close of the preceding Distribution Date. Except as expressly provided herein, and (ii) any written notice, instruction, direction or other document notice of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by the Majority Certificateholders at the time of the delivery of such notice.

Appears in 12 contracts

Sources: Trust Agreement (Mercedes-Benz Auto Receivables Trust 2025-1), Trust Agreement (Mercedes-Benz Auto Receivables Trust 2025-1), Trust Agreement (Daimler Trucks Retail Trust 2024-1)

Majority Control. Except as expressly provided herein, any action that may be taken or consent that may be given or withheld by the Certificateholders under this Agreement shall be effective if such action is taken or such consent is given or withheld by the Majority Certificateholders as Holders of Certificates evidencing not less than a majority of the close of the preceding Distribution DateVoting Interests thereof. Except as expressly provided herein, any written notice, instruction, direction or other document of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by Holders of Certificates evidencing not less than a majority of the Majority Certificateholders Voting Interests at the time of the delivery of such notice.

Appears in 4 contracts

Sources: Trust Agreement (Navistar Financial Retail Receivables Corporation), Trust Agreement (Navistar Financial Retail Receivables Corporation), Trust Agreement (Navistar Financial Retail Receivables Corporation)

Majority Control. Except as expressly provided herein, ---------------- any action that may be taken or consent that may be given or withheld by the Certificateholders under this Agreement shall be effective if such action is taken or such consent is given or withheld by the Majority Certificateholders Holders of a majority of the ownership interest in the Trust outstanding as of the close of the preceding Distribution Date. Except as expressly provided herein, any written notice, instruction, direction or other document of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by Holders of Certificates evidencing not less than a majority of the Majority Certificateholders ownership interest in the Trust at the time of the delivery of such notice.

Appears in 3 contracts

Sources: Trust Agreement (Navistar Financial Retail Receivables Corporation), Trust Agreement (Navistar Financial Retail Receivables Corporation), Trust Agreement (Navistar Financial Retail Receivables Corporation)

Majority Control. Except as otherwise expressly provided herein, any action that may be taken or consent that may be given or withheld by the Certificateholders under this Trust Agreement shall may be effective if such action is taken or such consent is taken, given or withheld by the Majority Certificateholders as of the close of the preceding Distribution DateCertificateholders. Except as otherwise expressly provided herein, any written notice, instruction, direction notice or other document consent of the Certificateholders delivered pursuant to this Trust Agreement shall be effective if signed by the Majority Certificateholders at the time of the delivery of such noticenotice or consent.

Appears in 1 contract

Sources: Trust Agreement (Equivest Finance Inc)

Majority Control. Except as expressly provided herein, any action that may be taken or consent that may be given or withheld by the Certificateholders under this Agreement shall may be effective if such action is taken or such consent is given or withheld by the Majority Certificateholders as of the close of the preceding Distribution DateCertificateholders. Except as expressly provided herein, any written notice, instruction, direction or other document notice of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by the Majority Certificateholders at the time of the delivery of such notice.

Appears in 1 contract

Sources: Trust and Servicing Agreement (Finova Group Inc)