Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 83 contracts
Samples: Trust Agreement (Honda Auto Receivables 2015-4 Owner Trust), Trust Agreement (Honda Auto Receivables 2015-4 Owner Trust), Trust Agreement (Honda Auto Receivables 2015-3 Owner Trust)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 71 contracts
Samples: Trust Agreement (Chrysler Financial Auto Securitization Trust 2010-A), Trust Agreement (Chrysler Financial Auto Securitization Trust 2009-B), Trust Agreement (Daimlerchrysler Auto Trust 2008-B)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Transaction Documents or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 43 contracts
Samples: Trust Agreement (Harley-Davidson Motorcycle Trust 2023-B), Trust Agreement (Harley-Davidson Motorcycle Trust 2023-B), Trust Agreement (Harley-Davidson Motorcycle Trust 2023-B)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee or the Trust Agent to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust, or of the Owner Trustee or the Trust Agent, as applicable, under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee or the Trust Agent be obligated to follow any such direction, if given.
Appears in 27 contracts
Samples: Trust Agreement (Onyx Acceptance Owner Trust 2005-B), Trust Agreement (Onyx Acceptance Owner Trust 2005-A), Trust Agreement (Onyx Acceptance Financial Corp)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 27 contracts
Samples: Trust Agreement (WFS Receivables Corp 3), Trust Agreement (WFS Receivables Corp 4), Trust Agreement (WFS Receivables Corp)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 24 contracts
Samples: Owner Trust Agreement (Bcap LLC), Trust Agreement (Capitalsource Inc), Owner Trust Agreement (Etrade Mortgage Backed Securities Corp)
Restrictions on Owners' Power. The Owners Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Transaction Documents or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 20 contracts
Samples: Trust Agreement (Harley-Davidson Motorcycle Trust 2008-1), Trust Agreement (American Capital Strategies LTD), Trust Agreement (Harley Davidson Customer Funding Corp)
Restrictions on Owners' Power. The Owners Neither the Administrator nor the Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents Transaction Documents, or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given, or to determine whether any such direction violates this Section 4.04.
Appears in 14 contracts
Samples: Trust Agreement (Cit Funding Co, LLC), Trust Agreement (NCT Funding Co LLC), Trust Agreement (NCT Funding Co LLC)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 9 contracts
Samples: Trust Agreement (WFS Financial Auto Loans Inc), Trust Agreement (WFS Financial 1997-C Owner Trust), Trust Agreement (WFS Financial Auto Loans Inc)
Restrictions on Owners' Power. The Owners Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Transaction Documents or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.. ARTICLE FIVE APPLICATION OF TRUST FUNDS; CERTAIN DUTIES
Appears in 8 contracts
Samples: Trust Agreement (Harley Davidson Customer Funding Corp), Trust Agreement (Harley Davidson Customer Funding Corp), Trust Agreement (Harley Davidson Customer Funding Corp)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Transaction Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 6 contracts
Samples: Trust Agreement (Mego Mortgage Corp), Trust Agreement (Mego Financial Corp), Trust Agreement (Mego Financial Corp)
Restrictions on Owners' Power. The Owners Neither the Administrator nor the Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents Transaction Documents, or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 6 contracts
Samples: Trust Agreement (Asset Backed Securities Corp), Trust Agreement (NCT Funding Co LLC), Trust Agreement (Ace Securities Corp)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.032.03 or contrary to applicable law, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 6 contracts
Samples: Trust Agreement (Nal Financial Group Inc), Trust Agreement (Nal Financial Group Inc), Trust Agreement (Nal Financial Group Inc)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, ; nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 5 contracts
Samples: Trust Agreement (Allied Capital Corp), Trust Agreement (First Merchants Acceptance Corp), Trust Agreement (First Merchants Acceptance Corp)
Restrictions on Owners' Power. The Owners Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (Caterpillar Financial Funding Corp), Trust Agreement (Caterpillar Financial Funding Corp), Trust Agreement (Caterpillar Financial Funding Corp)
Restrictions on Owners' Power. The Owners Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Transaction Documents or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.. ARTICLE FIVE
Appears in 4 contracts
Samples: Trust Agreement (Harley-Davidson Motorcycle Trust 2007-3), Trust Agreement (Harley Davidson Customer Funding Corp), Authority And (Heller Funding Corp)
Restrictions on Owners' Power. The Owners No Owner, Manager or Officer shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Trust Agreement (Medallion Financial Corp), Trust Agreement (Medallion Financial Corp), Trust Agreement (Medallion Financial Corp)
Restrictions on Owners' Power. The Owners shall not ----------------------------- direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such ----------- direction, if given.
Appears in 3 contracts
Samples: Owner Trust Agreement (Ace Securities Corp), Owner Trust Agreement (Southpoint Residential Mortgage Securities Corp), Owner Trust Agreement (National Mortgage Securities Corp)
Restrictions on Owners' Power. The Owners Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Transaction Documents or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.. ARTICLE FIVE APPLICATION OF TRUST FUNDS;
Appears in 2 contracts
Samples: Trust Agreement (Harley-Davidson Motorcycle Trust 2005-4), Trust Agreement (Harley Davidson Customer Funding Corp)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation obligations of the Issuer Trust or of the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Toyota Motor Credit Corp), Trust Agreement (Toyota Motor Credit Corp)
Restrictions on Owners' Power. The Owners Neither the Administrator nor the Equity Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents Trust Agreement Transaction Documents, or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given, or to determine whether any such direction violates this Section 4.04.
Appears in 2 contracts
Samples: Trust Agreement (Cit Equipment Collateral 2006-Vt2), Trust Agreement (Cit Funding Co, LLC)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, SECTION 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Owner Trust Agreement (Painewebber Mortgage Acceptance Corporation Iv), Trust Agreement (Painewebber Mort Accept Corp Iv Empire Funding 1999-1)
Restrictions on Owners' Power. The Owners Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, SECTION 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Caterpillar Financial Funding Corp), Trust Agreement (Caterpillar Financial Funding Corp)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Gs Mortgage Securities Corp), Trust Agreement (Goldman Sachs Asset Backed Securities Corp)
Restrictions on Owners' Power. The Owners Neither the Administrator nor the Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Transaction Documents or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Newcourt Receivables Corp Ii), Trust Agreement (Newcourt Receivables Corp Ii)
Restrictions on Owners' Power. The Owners Neither the Administrator nor the Equity Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents Transaction Documents, or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given, or to determine whether any such direction violates this Section 4.04.
Appears in 2 contracts
Samples: Trust Agreement (CIT Equipment Collateral 2005-Ef1), Trust Agreement (Cit Funding Co, LLC)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents of any Series or would be contrary to the purpose of the Issuer as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Trust Agreement (Daimlerchrysler Services North America LLC), Trust Agreement (Daimlerchrysler Services North America LLC)
Restrictions on Owners' Power. The Owners shall not direct ----------------------------- the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 2 contracts
Samples: Form of Trust Agreement (Asset Backed Securities Corp), Trust Agreement (Indymac Abs Inc)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.031.3, nor shall the Owner Trustee be obligated to follow or be liable for following any such direction, if givengiven by the record holders of a majority (or such greater portion, if so expressly provided herein) of each class of Ownership Interests.
Appears in 1 contract
Samples: Unanimous Shareholders Agreement (Installations & Hirings LTD)
Restrictions on Owners' Power. The Owners Neither the Administrator nor the Equity Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents Trust Agreement Transaction Documents, or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given., or to determine whether any such direction violates this Section 4.04. ARTICLE V
Appears in 1 contract
Samples: Trust Agreement (CIT Equipment Collateral 2008-Vt1)
Restrictions on Owners' Power. The Owners Neither the Administrator nor the Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents Transaction Documents, or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the thes Owner Trustee be obligated to follow any such direction, if given, or to determine whether any such direction violates this Section 4.04.
Appears in 1 contract
Samples: Trust Agreement (CIT Equipment Collateral 2004-Ef1)
Restrictions on Owners' Power. The Owners shall not ---------------------------- direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Samples: Trust Agreement (Provident Bank)
Restrictions on Owners' Power. The Owners shall not direct the ----------------------------- Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Samples: Trust Agreement (First Horizon Asset Securities Inc)
Restrictions on Owners' Power. The Owners shall not direct ----------------------------- the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, 2.3 nor shall the Owner Trustee be obligated to follow any such ----------- direction, if given.
Appears in 1 contract
Samples: Owner Trust Agreement (Fremont Mortgage Securities Corp)
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Samples: Trust Agreement (Bear Stearns Asset Backed Securities Inc)
Restrictions on Owners' Power. The Owners shall not ----------------------------- direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Samples: Trust Agreement (Indymac Abs Inc)
Restrictions on Owners' Power. The Owners Neither the Administrator nor the Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents Transaction Documents, or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given., or to determine whether any such direction violates this Section 4.04. [remainder of page intentionally left blank]
Appears in 1 contract
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee or the Co-Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust, or if the Owner Trustee or the Co-Owner Trustee, as applicable, under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer this Trust as set forth in Section 2.03, nor shall the Owner Trustee or the Co-Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, SECTION 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Samples: Trust Agreement (Caterpillar Financial Funding Corp)
Restrictions on Owners' Power. The Owners shall not ----------------------------- direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Restrictions on Owners' Power. The Owners shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents or would be contrary to the purpose of the Issuer as set forth in Section 2.03, ; nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Samples: Master Trust Agreement (A I Receivables Transfer Corp)
Restrictions on Owners' Power. The Owners Owner shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Issuer Trust or the Owner Trustee under this Agreement or any of the other Basic Documents Transaction Documents, or would be contrary to the purpose of the Issuer as set forth in Section 2.032.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 1 contract
Samples: Trust Agreement (Sunterra Corp)
