Common use of Limitation of Suits by Noteholders Clause in Contracts

Limitation of Suits by Noteholders. No holder of any Note shall have any right by virtue or by availing of any provision of this Indenture or the Guaranties to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture or the Guaranties, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof specifying such Event of Default, as hereinbefore provided, and unless also the holders of not less than 25% in aggregate principal amount of the Notes then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder and shall have offered to the Trustee such security and indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee for 60 days after its receipt of such notice, request and offer of security and indemnity, shall have failed to institute any such action, suit or proceeding; it being understood and intended, and being expressly covenanted by the taker and holder of every Note with every other such taker and holder and the Trustee, that no one or more holders of Notes shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture or the Guaranties to affect, disturb or prejudice the rights of the holders of any other Notes, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture or the Guaranties, except in the manner herein or therein provided and for the equal, ratable and common benefit of all holders of Notes. For the protection and enforcement of the provisions of this Section, each and every Noteholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. Notwithstanding any other provisions of this Indenture, however, the right of any holder of any Note to receive payment of the principal of (and premium, if any) and interest on such Note, as therein provided, on or after the respective due dates expressed in such Note (or in the case of redemption, on the Redemption Date), or to institute suit for the enforcement of any such payment on or after such respective dates or Redemption Date, shall not be impaired or affected without the consent of such holder.

Limitation of Suits by Noteholders. No holder of any Note of any series shall have any right by virtue or by availing of any provision of this Indenture or the Guaranties to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture or the Guaranties, or for the appointment of a receiver or trustee, or for any other remedy hereunderunder this Indenture or the Notes, unless such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with respect to Notes of that series specifying such Event of Default, as hereinbefore providedprovided under this Indenture or the Notes, and unless also the holders of not less than (a) 25% in the aggregate principal amount of the Notes of such series then Outstanding in the case of an Event of Default under Section 6.01(a)(i) or (ii), or (b) 51% in aggregate principal amount of the Notes of such series then Outstanding in case of an Event of Default other than under Section 6.01(a)(i), (ii), (iv) and (v) shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder and shall shall, have offered to the Trustee such reasonable security and indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee for 60 days after its receipt of such notice, request and offer of security and indemnity, shall have failed to institute any such action, suit or proceedingproceeding and during such 60-day period, Noteholders of a majority in aggregate principal amount of the then Outstanding Notes do not give the Trustee a direction inconsistent with such request; it being understood and intended, and being expressly covenanted by the taker and holder of every Note of that series with every other such taker and holder and the Trustee, that no one or more holders of Notes of that series shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture or the Guaranties to affect, disturb or prejudice the rights of the holders of any other of such Notes, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture or the GuarantiesIndenture, except in the manner herein or therein provided and for the equal, ratable and common benefit of all holders of NotesNotes of that series. For the protection and enforcement of the provisions of this Section, each and every Noteholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. Notwithstanding any other provisions of this Indenture, however, the right of any holder of any Note to receive payment of the principal of (and premium, if any) and interest on such Note, as therein provided, on or after the respective due dates expressed in such Note (or in the case of redemption, on the Redemption Dateredemption date), or to institute suit for the enforcement of any such payment on or after such respective dates or Redemption Dateredemption date, shall not be impaired or affected without the consent of such holder.

Limitation of Suits by Noteholders. No holder of any Note of any series shall have any right by virtue or by availing of any provision of this Indenture or the Guaranties to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture or the Guaranties, or for the appointment of a receiver or trustee, or for any other remedy hereunderunder this Indenture or the Notes, unless such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with respect to Notes of that series specifying such Event of Default, as hereinbefore providedprovided under this Indenture or the Notes, and unless also the holders of not less than (a) 25% in the aggregate principal amount of the Notes of such series then Outstanding in the case of an Event of Default under Section 6.01(a)(i) or (ii), or (b) 51% in aggregate principal amount of the Notes of such series then Outstanding in case of an Event of Default other than under Section 6.01(a)(i), (ii), (iv) and (v) shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder and shall have offered to the Trustee such security and or indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee for 60 days after its receipt of such notice, request and offer of security and or indemnity, shall have failed to institute any such action, suit or proceedingproceeding and during such 60-day period, Noteholders of a majority in aggregate principal amount of the then Outstanding Notes do not give the Trustee a direction inconsistent with such request; it being understood and intended, and being expressly covenanted by the taker and holder of every Note of that series with every other such taker and holder and the Trustee, that no one or more holders of Notes of that series shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture or the Guaranties to affect, disturb or prejudice the rights of the holders of any other Notesof such Notes (it being understood that, subject to the provisions of Section 7.01, the Trustee shall have no affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Noteholders), or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture or the GuarantiesIndenture, except in the manner herein or therein provided and for the equal, ratable and common benefit of all holders of NotesNotes of that series. For the protection and enforcement of the provisions of this Section, each and every Noteholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. Notwithstanding any other provisions of this Indenture, however, the right of any holder of any Note to receive payment of the principal of (and premium, if any) and interest on such Note, as therein provided, on or after the respective due dates expressed in such Note (or in the case of redemption, on the Redemption Dateredemption date), or to institute suit for the enforcement of any such payment on or after such respective dates or Redemption Dateredemption date, shall not be impaired or affected without the consent of such holder.

Limitation of Suits by Noteholders. No holder of any Note of any series shall have any right by virtue or by availing of any provision of this Indenture or the Guaranties to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture or the Guaranties, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with respect to Notes of that series specifying such Event of Default, as hereinbefore provided, and unless also the holders of not less than 25% in aggregate principal amount of the Notes of such series then Outstanding outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder and shall have offered to the Trustee such reasonable security and indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee for 60 days after its receipt of such notice, request and offer of security and indemnity, shall have failed to institute any such action, suit or proceeding; it being understood and intended, and being expressly covenanted by the taker and holder of every Note of that series with every other such taker and holder and the Trustee, that no one or more holders of Notes of that series shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture or the Guaranties Support Agreement to affect, disturb or prejudice the rights of the holders of any other of such Notes, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture or the GuarantiesSupport Agreement, except in the manner herein or therein provided and for the equal, ratable and common benefit of all holders of NotesNotes of that series. For the protection and enforcement of the provisions of this Section, each and every Noteholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. Notwithstanding any other provisions of this Indenture, however, the right of any holder of any Note to receive payment of the principal of (and premium, if any) and interest on such Note, as therein provided, on or after the respective due dates expressed in such Note (or in the case of redemption, on the Redemption Dateredemption date), or to institute suit for the enforcement of any such payment on or after such respective dates or Redemption Dateredemption date, shall not be impaired or affected without the consent of such holder.