Majority Certificateholders Sample Clauses

The 'Majority Certificateholders' clause defines the group of certificateholders who collectively hold more than half of the outstanding certificates in a given transaction or trust. This clause typically specifies that certain actions, such as approving amendments, waiving defaults, or directing the trustee, require the consent or direction of this majority group. For example, if there are 1,000 certificates, those holding at least 501 would constitute the majority. The core function of this clause is to streamline decision-making and ensure that significant actions reflect the will of the majority, thereby preventing a small minority from controlling or obstructing important decisions.
Majority Certificateholders. Except as expressly provided herein, any action that may be taken or consent that may be given or withheld by the Certificateholders under this Agreement shall be effective if such action is taken or consent is given or withheld by the Majority Certificateholders as of such action or consent. Except as expressly provided herein, any written notice, instruction, direction or other document of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by the Majority Certificateholders.
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Majority Certificateholders. Certificateholders holding in the aggregate more than 50% of the Voting Interests.
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Majority Certificateholders. The Holders of Certificates evidencing in the aggregate greater than 50% of the aggregate Current Principal Amount of all the Certificates or if the matter relates to one or more of the Classes of Certificates, of the aggregate Current Principal Amount of such Class or Classes.
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Majority Certificateholders. 13 Section 4.2. Prior Notice to Certificateholders with Respect to Certain Matters......... 13 Section 4.3. Action by Certificateholders with Respect to Certain Matters............... 13 Section 4.4. Restrictions on Certificateholders' Power.................................. 14 Section 4.5. Rights of Security Insurer................................................. 14
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Majority Certificateholders. 13 Section 4.2. Prior Notice to Certificateholders with Respect to Certain Matters... 13 Section 4.3. Action by Certificateholders with Respect to Certain Matters.......
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Majority Certificateholders. For so long as any of the Offered Certificates are outstanding, the Holder or Holders of Offered Certificates evidencing Percentage Interests in excess of 51% in the aggregate, and thereafter, the Holder or Holders of Residual Certificates evidencing Percentage Interests in excess of 51% in the aggregate.
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Majority Certificateholders. Holders of Certificates of each Class --------------------------- evidencing, as to Class A and Class R, Percentage Interests aggregating not less than 51%, and as to Class X, Percentage Interests in the Class X Certificates aggregating not less than 51% .
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Related to Majority Certificateholders

  • Control by Certificateholders The Holders of Certificates of any Class holding Certificates representing not less than the Required Percentage--Direction of Trustee of the aggregate Voting Rights of the Outstanding Certificates of such Class shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee under this Trust Agreement, including any right of the Trustee as holder of the Underlying Securities; provided that: (i) such direction shall not be in conflict with any rule of law or with this Trust Agreement and would not involve the Trustee in personal liability or expense; (ii) the Trustee shall determine, based upon an Opinion of Counsel, that the action so directed would not be unjustly prejudicial to the Holders of Certificates of such Class not taking part in such direction; and (iii) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.

  • Actions by Certificateholders (a) Wherever in this Agreement a provision is made that an action may be taken or a Notice given by Certificateholders, such action or Notice may be taken or given by any Certificateholder, unless such provision requires a specific percentage of Certificateholders. (b) Any Notice, request, authorization, direction, consent, waiver or other act by the Holder of a Certificate shall bind such Holder and every subsequent Holder of such Certificate and of any Certificate issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done or omitted to be done by the Trustee or the Servicer in reliance thereon, whether or not notation of such action is made upon such Certificate.

  • Depositor as Certificateholder The Depositor in its individual or any other capacity may become the owner or pledgee of Certificates and may otherwise deal with the Owner Trustee or its Affiliates as if it were not the Depositor.

  • Certificateholders The death or incapacity of any Certificateholder shall neither operate to terminate this Trust Agreement, nor entitle such Certificateholder’s legal representative or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of the affairs of the Trust Fund, nor otherwise affect the rights, duties and obligations of any of the parties to this Trust Agreement. Except as provided in Article V and Article VII, no Certificateholder shall have any right to vote or in any manner otherwise control the operation and management of the Trust Fund, or the obligations of the parties hereto, nor shall anything herein set forth, or contained in the terms of the Certificates, be construed so as to constitute the Certificateholders from time to time as partners or members of an association; nor shall any Certificateholder be under any liability to any third person by reason of any action taken by the parties to this Trust Agreement pursuant to any provision hereof. No Certificateholder shall have any right by virtue of any provision of this Trust Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Trust Agreement unless an Event of Default shall have occurred and be continuing in respect of the Trust Agreement. It is understood and intended, and is expressly covenanted by each Certificateholder with every other Certificateholder and the Trustee, that no one or more Holders of Certificates shall have any right in any manner whatever by virtue of any provision of this Trust Agreement to affect, disturb or prejudice the rights of the Holders of any other such Certificates, or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Trust Agreement, except in the manner herein provided and for the equal, ratable and common benefit of all Certificateholders. For the protection and enforcement of the provisions of this Section, each and every Certificateholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.

  • Notification to Noteholders and Certificateholders Upon any termination of, or appointment of a successor to, the Servicer pursuant to this Article VII, the Indenture Trustee shall give prompt written notice thereof to the Noteholders and the Depositor, who promptly shall provide such notice to the Rating Agencies, and the Owner Trustee shall give prompt written notice thereof to the Certificateholders.