Common use of Amendments Without Consent of Certificateholders or Noteholders Clause in Contracts

Amendments Without Consent of Certificateholders or Noteholders. This Agreement may be amended by the Seller and the Owner Trustee without the consent of any of the Noteholders or the Certificateholders (but with prior written notice to each of the Rating Agencies and in the case of clauses (iii) and (vi), satisfaction of the Rating Agency Condition), to (i) correct manifest error or cure any ambiguity, (ii) correct or supplement any provision in this Agreement that may be inconsistent with any other provision in this Agreement, (iii) add or amend any provision as requested by Moody's or Standard & Poor's to maintain or improve the rating of the Notes or Certificates, (iv) add to the covenants, restrictions or obligations of the Seller, the Owner Trustee or the Indenture Trustee, (v) evidence and provide for the acceptance of the appointment of a successor trustee with respect to the Owner Trust Estate and add to or change any provisions as shall be necessary to facilitate the administration of the trusts hereunder by more than one trustee pursuant to Article VI and (vi) add, change or eliminate any other provision of this Agreement provided that an amendment pursuant to this clause (vi), as evidenced by an Opinion of Counsel, does not adversely affect in any material respect the interests of the Noteholders or the Certificateholders.

Appears in 1 contract

Sources: Trust Agreement (Cit Group Inc)

Amendments Without Consent of Certificateholders or Noteholders. This Agreement may be amended by the Seller and the Owner Trustee without the consent of any of the Noteholders or the Certificateholders (but with prior written notice to each of the Rating Agencies and and, in the case of clauses (iii) and (vi), satisfaction of the Rating Agency Condition), to (i) correct manifest error or cure any ambiguity, (ii) correct or supplement any provision in this Agreement that may be inconsistent with any other provision in this Agreement, (iii) add or amend any provision as requested by Moody's or Standard & Poor's to maintain or improve the rating of the Notes or Certificates, (iv) add to the covenants, restrictions or obligations of the Seller, the holder of the AO Interest, the Owner Trustee or the Indenture Trustee, (v) evidence and provide for the acceptance of the appointment of a successor trustee with respect to the Owner Trust Estate and add to or change any provisions as shall be necessary to facilitate the administration of the trusts hereunder by more than one trustee pursuant to Article VI and (vi) add, change or eliminate any other provision of this Agreement provided that an amendment pursuant to this clause (vi), as evidenced by an Opinion of Counsel, does not adversely affect in any material respect the interests of the Noteholders or the Certificateholders.

Appears in 1 contract

Sources: Trust Agreement (Cit Rv Trust 1998-A)