Prior Notice to Holders with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, with respect to the following matters, neither the Owner Trustee nor the Trust Agent shall take any action unless at least 30 days before the taking of such action, the Owner Trustee or the Trust Agent, as applicable, shall have notified the Holders in writing of the proposed action and the Holders shall not have notified the Owner Trustee or the Trust Agent, as applicable, in writing prior to the 30th day after such notice is given that such Holders have withheld consent or provided alternative direction: (a) the initiation of any claim or lawsuit by the Trust and the compromise of any action, claim or lawsuit brought by or against the Trust; (b) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is required; (c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is not required and such amendment materially adversely affects the interest of the Holders; (d) the amendment, change or modification of the Administration Agreement, except to cure any ambiguity or to amend or supplement any provision in a manner or add any provision that would not materially adversely affect the interests of the Holders; or (e) the appointment pursuant to the Indenture of a successor Note Registrar, paying agent for the Notes or Indenture Trustee or pursuant to this Agreement of a successor Certificate Registrar or the Paying Agent, or the consent to the assignment by the Note Registrar, paying agent for the Notes, Indenture Trustee, Certificate Registrar or Paying Agent of its obligations under the Indenture or this Agreement, as applicable.
Appears in 1 contract
Prior Notice to Holders with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, with With respect to the following matters, neither the Owner Trustee nor the Trust Agent shall not take any action unless unless, at least 30 thirty (30) days before the taking of such action, the Owner Trustee or the Trust Agent, as applicable, shall have notified the Holders in writing of the proposed action and the Holders shall not have notified the Owner Trustee or the Trust Agent, as applicable, in writing prior to the 30th thirtieth (30th) day after such notice is given that such the Holders have withheld consent or shall not have provided alternative direction:
(a) the initiation of any claim or lawsuit by the Trust (except claims or lawsuits brought in connection with the collection of the Trust Estate) and the compromise of any action, claim or lawsuit brought by or against the TrustTrust (except with respect to the aforementioned claims or lawsuits for collection of Trust Estate);
(b) the election by the Trust to file an amendment to the Certificate of Trust unless such amendment is required by the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is requiredTrust Statute;
(c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is not required and such amendment materially adversely affects the interest of the Holdersrequired;
(d) the amendment, change or modification of the Administration Agreement, except to cure any ambiguity or to amend or supplement any provision in a manner manner, or add any provision provision, that would not materially and adversely affect the interests of the Holders; or
(e) the appointment pursuant to the Indenture of a successor Note Registrar, paying agent for the Notes Paying Agent or Indenture Trustee or pursuant to this Agreement of a successor Certificate Registrar or the Paying AgentTrustee, or the consent to the assignment by the Note Registrar, paying agent for the Notes, Indenture Trustee, Certificate Registrar or Paying Agent or Indenture Trustee of its obligations under the Indenture or this Agreement, as applicable.
Appears in 1 contract