Restrictions on the Residual Interestholder's Power. The Residual Interestholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Sources: Trust Agreement (Deutsche Recreational Asset Funding Corp), Trust Agreement (Deutsche Recreational Asset Funding Corp), Trust Agreement (Deutsche Recreational Asset Funding Corp)
Restrictions on the Residual Interestholder's Power. The --------------------------------------------------- Residual Interestholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Sources: Trust Agreement (Deutsche Recreational Asset Funding Corp)