Common use of Intervention by Trustee Clause in Contracts

Intervention by Trustee. In any judicial proceeding to which the Issuer or the Borrower is a party and which in the opinion of the Trustee and its Counsel has a substantial bearing on the interests of Owners of the Bonds, the Trustee may intervene on behalf of Bondholders and, subject to the provisions of Section 10.01(i), shall do so if requested in writing by the Owners of a majority in aggregate principal amount of all Bonds then outstanding.

Intervention by Trustee. In any judicial proceeding to which the Issuer or the Borrower is a party and which in the opinion of the Trustee and its Counsel counsel has a substantial bearing on the interests of Owners of the BondsBondholders, the Trustee may intervene on behalf of Bondholders and, subject to the provisions of Section 10.01(i), and shall do so if requested in writing by the Owners owners of a majority at least twenty-five percent (25%) in aggregate principal amount of all Bonds then outstandingOutstanding if offered the security and indemnity provided for in Section 701(I). The rights and obligations of the Trustee under this Section 704 are subject to the approval of a court of competent jurisdiction.