Common use of RESOLUTION OF THE NOTEHOLDERS Clause in Contracts

RESOLUTION OF THE NOTEHOLDERS. The Note Trustee shall not be liable for acting upon any resolution purporting to have been passed at any meeting of the Noteholders in respect whereof minutes have been made and signed even though subsequent to its acting it may be found that there was some defect in the constitution of the meeting or the passing of the resolution or that for any reason the resolution was not valid or binding upon the Noteholders.