Common use of Intervention by Trustee Clause in Contracts

Intervention by Trustee. The Trustee may intervene on behalf of the Owners, and shall intervene if requested to do so by an instrument or instruments in writing signed by the Owners of not less than a majority in aggregate principal amount of the Certificates then Outstanding, in any judicial proceeding to which the Board is a party and which in the opinion of the Trustee and its counsel has a substantial bearing on the interest of Owners of the Certificates. The rights and obligations of the Trustee under this Section are subject to the approval of that intervention by a court of competent jurisdiction. The Trustee may require that a satisfactory indemnity bond be provided to it in accordance with Section 8.01 hereof before it takes action hereunder.

Intervention by Trustee. The Trustee may may, but shall not be obligated to, intervene on behalf of the OwnersHolders, and shall intervene if requested to do so by an instrument or instruments in writing signed by the Owners Holders of not less than a majority in at least 25% of the aggregate principal amount of the Certificates Bonds then Outstandingoutstanding, in any judicial proceeding to which the Board State is a party and which in the opinion of the Trustee and its counsel has a substantial bearing on the interest interests of Owners Holders of the CertificatesBonds. The rights and obligations of the Trustee under this Section are subject to the approval of that intervention by a court of competent jurisdiction. The Trustee may require that a satisfactory indemnity bond be provided to it in accordance with Section 8.01 Sections 6.01 and 6.02 hereof before it takes action hereunder. The Trustee shall not have any obligation to monitor or take notice of any litigation to which the State is a party.

Intervention by Trustee. The Trustee may intervene on behalf of the OwnersHolders, and shall intervene if requested to do so by an instrument or instruments in writing signed by the Owners Holders of not less than a majority in at least twenty-five percent (25%) of the aggregate principal amount of the Certificates Bonds then Outstandingoutstanding, in any judicial proceeding to which the Board Issuer, the Bank or the Borrower is a party and which in the opinion of the Trustee and its counsel has a substantial bearing on the interest interests of Owners Holders of the CertificatesBonds. The rights and obligations of the Trustee under this Section are subject to the approval of that intervention by a court of competent jurisdiction. The Trustee may require that a satisfactory indemnity bond be provided to it in accordance with Section 8.01 Sections 6.01 and 6.02 hereof before it takes action hereunderunder this Section.

Intervention by Trustee. The Trustee may may, but shall not be obligated to, intervene on behalf of the OwnersHolders, and shall intervene if requested to do so by an instrument or instruments in writing signed by the Owners Holders of not less than a majority in aggregate principal amount at least 25% of the Certificates Aggregate Principal Amount of Bonds then Outstanding, in any judicial proceeding to which the Board Authority is a party and which in the opinion of the Trustee and its counsel has a substantial bearing on the interest interests of Owners Holders of the CertificatesBonds. The rights and obligations of the Trustee under this Section are subject to the approval of that intervention by a court of competent jurisdiction. The Trustee may require that a satisfactory indemnity bond be provided to it in accordance with Section 8.01 6.02 hereof before it takes action hereunder. The Trustee shall not have any obligation to monitor or take notice of any litigation to which the Authority is a party.