Common use of Action by Certificateholder with Respect to Certain Matters Clause in Contracts

Action by Certificateholder with Respect to Certain Matters. The Owner Trustee (and, with respect to legal title of the Financed Student Loans, the Eligible Lender Trustee) shall not have the power, except upon the direction of the holder of the Trust Certificate and as expressly provided in the Basic Documents, to sell the Financed Student Loans after the termination of the Indenture. The Owner Trustee (and, with respect to legal title of the Financed Student Loans, the Eligible Lender Trustee) shall take the actions referred to in the preceding sentence only upon written instructions signed by the holder of the Trust Certificate.

Action by Certificateholder with Respect to Certain Matters. The Owner Trustee (and, with respect to legal title of the Financed Student Loans, the Eligible Lender Trustee) Trustee shall not have the power, except upon the direction of the holder of the Trust Certificate and as expressly provided in the Basic Documents, to sell the Financed Student Loans after the termination of the Indenture. The Owner Trustee (and, with respect to legal title of the Financed Student Loans, the Eligible Lender Trustee) Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the holder of the Trust Certificate.