Certificateholder Control Sample Clauses
The Certificateholder Control clause establishes the rights and mechanisms by which certificateholders can exercise control over certain decisions or actions within a trust or securitization structure. Typically, this clause outlines the thresholds or procedures required for certificateholders to direct the trustee or other parties, such as requiring a majority or supermajority vote to approve amendments, waivers, or enforcement actions. Its core practical function is to ensure that those with a financial stake in the certificates have a formalized means to influence key decisions, thereby aligning management of the trust with the interests of the certificateholders and providing a check on unilateral actions by the trustee or servicer.
Certificateholder Control. Except as expressly provided herein, any action that may be taken by the Certificateholders under this Agreement may be taken by the Holders of Certificates evidencing not less than a majority of the Certificate Percentage Interests. Except as expressly provided herein, any written notice of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by Certificateholders of Certificates evidencing not less than a majority of the Certificate Percentage Interests at the time of the delivery of such notice.