Control of Remedies. Any of the remedies set forth in this Section 5 shall be controlled by the Majority Holders and the determination of the Majority Holders shall be binding upon other Secured Parties.
Control of Remedies. The Majority Holders may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or the Collateral Agent or of exercising any trust or power conferred on the Trustee or the Collateral Agent. However, the Trustee or the Collateral Agent, as applicable, may refuse to follow any direction that conflicts with law, this Indenture, the Notes or any Note Guarantee or the Collateral Documents (including the Intercreditor Agreement), or that it determines in good faith is unduly prejudicial to the rights of any other Holder or that would involve the Trustee or the Collateral Agent in personal liability or expense for which each of the Trustee or the Collateral Agent, as applicable, has not received indemnification or security reasonably satisfactory to it.
Control of Remedies. The Controlling Party may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee (as Trustee or Collateral Agent, subject, in the case of any actions based on the status of the Trustee as Collateral Agent, to any limitations otherwise expressly provided for in the other Operative Documents) or exercising any trust or power conferred on it; provided that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. The Trustee may refuse to follow any direction hereunder or authorization under Section 7.4 that conflicts with law or this Indenture, that the Trustee determines may subject the Trustee to personal liability or, after a Policy Provider Default or after the Securities, the Policy Expenses and the Policy Provider Obligations have been paid in full, that the Trustee determines may be unduly prejudicial to the rights of another Noteholder. However, the Trustee shall have no liability for any actions or omissions to act which are in accordance with any such direction or authorization. The Controlling Party shall not direct the Trustee or any Collateral Agent to sell or otherwise dispose of any Collateral unless all unpaid principal of, accrued but unpaid interest on, and Premium, if any, and Break Amount, if any, with respect to, the Outstanding Notes and other amounts otherwise payable under this Indenture, if any, shall be declared or otherwise become due and payable immediately.
Control of Remedies. Control of the exercise of all rights and remedies on the underlying Eligible Bonds shall be pursuant to the provisions of Section 8 of the MOU. Appendix D
Control of Remedies. The Majority Holders may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture, the Notes or any Note Guarantee, or that it determines in good faith is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal liability or expense for which the Trustee has not received indemnification or security reasonably satisfactory to it.
Control of Remedies. Notwithstanding anything else contained in this Agreement, upon the occurrence and during the continuance of an event of default under the Guaranty Agreement, AMBAC shall be entitled to control and direct the enforcement of all rights and remedies granted to the Secured Parties for the benefit of all Secured Parties, and to give sole consent wherever the consent of all Secured Parties is required in this Agreement; PROVIDED, HOWEVER, that if (a) a Secured Obligation is covered under the Surety Bond and (b) AMBAC fails to pay when due a claim properly made under the Surety Bond, the Facility Owner and the Owner Participant shall have the right to appoint a party to control and direct the enforcement of all rights and remedies under this Agreement.
Control of Remedies. Notwithstanding anything else contained in this Subordinated Deed of Trust, upon the occurrence and during the continuance of a Subordinated Deed of Trust Event of Default, AMBAC shall be entitled to control and direct the enforcement of all rights and remedies granted to the Subordinated Secured Parties hereunder for the benefit of all Subordinated Secured Parties; PROVIDED, HOWEVER, that if (a) a Subordinated Obligation is covered under the Surety Bond and (b) AMBAC fails to pay when due a claim made under the Surety Bond, the Facility Owner and the Owner Participant shall have the right to appoint a party to control and direct the enforcement of all rights and remedies under this Subordinated Deed of Trust. Subordinated Trustees are entitled to rely on directions given by AMBAC until they receive written notice from the Subordinated Secured Parties (other than AMBAC) that the Subordinated Secured Parties have appointed a new party to control and direct enforcement of rights hereunder.
Control of Remedies. Notwithstanding anything else contained in this Agreement, upon the occurrence and during the continuance of a Subordinated Security Agreement Event of Default, AMBAC shall be entitled to control and direct the enforcement of all rights and remedies granted to the Subordinated Secured Parties for the benefit of all Subordinated Secured Parties; PROVIDED, HOWEVER, that if (a) a Covered Obligation is covered under the Surety Bond and (b) AMBAC fails to pay when due a claim made under the Surety Bond, the Facility Owner and the Owner Participant shall have the right to appoint a party to control and direct the enforcement of all rights and remedies under this Agreement.
Control of Remedies. The Controlling Party may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee (as Trustee or Collateral Agent, subject, in the case of any actions based on the status of the Trustee as Collateral Agent, to any limitations otherwise expressly provided for in the other Operative Documents) or exercising any trust or power conferred on it; provided that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. The Trustee may refuse to follow any direction hereunder or authorization under Section 7.4 that conflicts with law or this Indenture, that the Trustee determines may subject the Trustee to personal liability or, after a Policy Provider Default, that the Trustee determines may be unduly prejudicial to the rights of another Securityholder. However, the Trustee shall have no liability for any actions or omissions to act which are in accordance with any such direction or authorization. The Controlling Party shall not direct the Trustee or any Collateral Agent to sell or otherwise dispose of any Collateral unless all unpaid principal of, accrued but unpaid interest on, and Premium, if any, and Break Amount, if any, with respect to, the Outstanding Securities and other amounts otherwise payable under this Indenture, if any, shall be declared or otherwise become due and payable immediately.
Control of Remedies. The Reinsurer shall be bound by the reasonable judgment of the Reinsured concerning the salvage and subrogation rights and remedies of the Reinsured under any Policies.
