Common use of Direction to Sell or Liquidate Clause in Contracts

Direction to Sell or Liquidate. Except under Section 5.6(a)(iii), a direction to the Indenture Trustee to vote pursuant to Section 6.1(a)a.(A) or Section 6.1(a)b.(A) of the Master Collateral Agreement as a Group Creditor Representative for Group 1 to cause the Trust to sell the Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, must have been made by the Noteholders of 100% of the Note Balance of the Controlling Class.

Appears in 33 contracts

Samples: Indenture (Verizon Master Trust), Verizon Master Trust, Verizon Master Trust

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Direction to Sell or Liquidate. Except under Section 5.6(a)(iii), a direction to the Indenture Trustee to vote pursuant to Section 6.1(a)a.(A) or Section 6.1(a)b.(A) of the Master Collateral Agreement as a Group Creditor Representative for Group 1 [_] to cause the Trust to sell the Group 1 [_] Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, must have been made by the Noteholders of 100% of the Note Balance [of the Controlling Class].

Appears in 3 contracts

Samples: Verizon Master Trust, Verizon Master Trust, Verizon Master Trust

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