Common use of Action upon Instruction by Certificateholders Clause in Contracts

Action upon Instruction by Certificateholders. (a) Subject to Section 5.2, 5.3 and 9.2(b) and in accordance with the terms of the Basic Documents, the Certificateholders of a Class may by written instruction direct the Trustee in the management of the Trust, or consent to the waiver of any past default and its consequences, and may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any power given to the Trustee. Subject to Sections 7.3(e), 7.5(c) and 7.15, such direction may be exercised at any time by written instruction of the Certificateholders pursuant to Section 5.3.

Action upon Instruction by Certificateholders. (a) Subject to Section Sections 5.2, 5.3 and 9.2(b) and in accordance with the terms of the Basic Documents, the Certificateholders of a Class may by written instruction direct the Trustee in the management of the Trust, or consent to the waiver of any past default and its consequences, and may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any power given to the Trustee. Subject to Sections 7.3(e), 7.5(c) and 7.15, such direction may be exercised at any time by written instruction of the Certificateholders pursuant to Section 5.3.

Action upon Instruction by Certificateholders. (a) Subject to Section 5.2, 5.3 and 9.2(b) and in accordance with the terms of the Basic Documents, the Certificateholders of a Class may by written instruction direct the Trustee in the management of the Trust, or consent to the waiver of any past default and its consequences, and may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any power given to the Trustee. Subject to Sections 7.3(e), 7.5(c) and 7.15, such direction may be exercised at any time by written instruction of the Certificateholders pursuant to Section 5.3.. EXHIBIT 4.5