Majority Control. To the extent that there is more than one Certificateholder, any action which may be taken or consent or instructions which may be given by the Certificateholder under this Agreement may be taken by Certificateholders holding in the aggregate a percentage of the beneficial interest in the Issuer equal to more than 50% of the beneficial interest in the Issuer at the time of such action.
Appears in 54 contracts
Sources: Amended and Restated Trust Agreement (Porsche Financial Auto Securitization Trust 2026-1), Trust Agreement (Porsche Financial Auto Securitization Trust 2026-1), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Majority Control. To the extent that there is more than one Certificateholder, any action which may be taken or consent or instructions which may be given by the Certificateholder Certificateholders under this Agreement may be taken by Certificateholders holding in the aggregate a percentage of the beneficial interest in the Issuer equal to more than 50% of the beneficial interest in the Issuer at the time of such action.
Appears in 42 contracts
Sources: Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Majority Control. To the extent that there is more than one Certificateholder, except as expressly provided herein, any action which may be taken or consent or instructions which may be given by the Certificateholder Certificateholders under this Agreement may be taken by Certificateholders holding in the aggregate a percentage of the beneficial interest in the Issuer equal to more than 50% of the beneficial interest in the Issuer at the time of such action.
Appears in 23 contracts
Sources: Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Usaa Acceptance LLC)
Majority Control. To the extent that there is more than one Certificateholder, any action which that may be taken or consent or instructions which may be given by the Certificateholder under this Agreement may be taken by Certificateholders holding in the aggregate representing a percentage majority of the outstanding beneficial interest in the Issuer equal to Issuer. To the extent that there is more than 50% one Certificateholder, except as expressly provided herein, any written notice of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by Certificateholders representing a majority of the outstanding beneficial interest in the Issuer at the time of delivery of such actionnotice.
Appears in 5 contracts
Sources: Amended and Restated Trust Agreement (Nissan Auto Receivables 2026-B Owner Trust), Trust Agreement (Nissan Auto Receivables 2026-a Owner Trust), Trust Agreement (Nissan Auto Receivables 2026-a Owner Trust)
Majority Control. To the extent that there is more than one Certificateholder, any action which may be taken or consent or instructions which may be given by the Certificateholder under this Agreement may be taken by Certificateholders the Certificateholder holding in the aggregate a percentage of the beneficial interest in the Issuer equal to more than 50% of the beneficial interest in the Issuer at the time of such action.
Appears in 3 contracts
Sources: Trust Agreement (Porsche Innovative Lease Owner Trust 2026-1), Trust Agreement (Porsche Innovative Lease Owner Trust 2026-1), Trust Agreement (Porsche Leasing Ltd.)
Majority Control. To the extent that there is more than one Certificateholder, any action which may be taken or consent or instructions which may be given by the Certificateholder under this Agreement may be taken by Certificateholders holding in the aggregate a percentage of the beneficial interest in the Issuer equal to more than 50% of the beneficial interest in the Issuer at the time of such action.. 8 Amended & Restated Trust Agreement (VALET 2014-1)
Appears in 2 contracts
Sources: Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Trust Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)
Majority Control. To the extent that there is more than one Certificateholder, any action which may be taken or consent or instructions which may be given by the Certificateholder under this Agreement may be taken by Certificateholders Certificateholder holding in the aggregate a percentage of the beneficial interest in the Issuer equal to more than 50% of the beneficial interest in the Issuer at the time of such action.
Appears in 1 contract