Super-Majority Control. Except as otherwise expressly provided in this Agreement, any action which may be taken or consent or instructions which may be given by the Owners under this Agreement may be taken by the Owners holding in the aggregate at least 85% of both the Percentage Interests and the Sharing Ratios in the Trust at the time of such action (the “Super-majority Owners”). Any written notice of the Owners delivered pursuant to this Agreement shall be effective only if signed by the Super-majority Owners at the time of the delivery of such notice.
Appears in 10 contracts
Samples: Trust Agreement, Trust Agreement, Trust Agreement (National Collegiate Student Loan Trust 2005-3)
Super-Majority Control. Except as otherwise expressly provided in this Agreement, any action which may be taken or consent or instructions which may be given by the Owners under this Agreement may be taken by the Owners holding in the aggregate at least 8566 2/3% of both the Percentage Interests and the Sharing Ratios in the Trust at the time of such action (the “"Super-majority Owners”"). Any written notice of the Owners delivered pursuant to this Agreement shall be effective only if signed by the Super-majority Owners at the time of the delivery of such notice.
Appears in 4 contracts
Samples: Authority And (National Collegiate Trust 1996-S2), Authority And (National Collegiate Trust 1997-S2), Trust Agreement (National Collegiate Trust 1996-S2)
Super-Majority Control. Except as otherwise expressly provided in this Agreement, any action which may be taken or consent or instructions which may be given by the Owners under this Agreement may be taken by the Owners holding in the aggregate at least 85% of both the Percentage Interests and the Sharing Ratios in the Trust at the time of such action (the “Super-majority Owners”). Any written notice of the Owners delivered pursuant to this Agreement shall be effective only if signed by the Super-majority Owners at the time of the delivery of such notice.. Section 4.04
Appears in 2 contracts
Super-Majority Control. Except as otherwise expressly provided in this Agreement, any action which may be taken or consent or instructions which may be given by the Owners under this Agreement may be taken by the Owners holding in the aggregate at least 8580% of both the Percentage Interests and the Sharing Ratios in the Trust at the time of such action (the “"Super-majority Owners”"). Any written notice of the Owners delivered pursuant to this Agreement shall be effective only if signed by the Super-majority Owners at the time of the delivery of such notice.
Appears in 2 contracts
Samples: Trust Agreement (National Collegiate Student Loan Trust 2004-1), Trust Agreement (National Collegiate Funding LLC)
Super-Majority Control. Except as otherwise expressly provided in this Agreement, any action which may be taken or consent or instructions which may be given by the Owners under this Agreement may be taken by the Owners holding in the aggregate at least 85% of both the Percentage Interests and the Sharing Ratios in the Trust at the time of such action (the “"Super-majority Owners”"). Any written notice of the Owners delivered pursuant to this Agreement shall be effective only if signed by the Super-majority Owners at the time of the delivery of such notice.
Appears in 2 contracts
Samples: Authority And (National Collegiate Student Loan Trust 2005-1), Authority And (National Collegiate Student Loan Trust 2004-2)
Super-Majority Control. Except as otherwise expressly provided in this Agreement, any action which may be taken or consent or instructions which may be given by the Owners under this Agreement may be taken by the Owners holding in the aggregate at least 85% of both the Percentage Interests and the Sharing Ratios in the Trust at the time of such action (the “"Super-majority Owners”"). Any written notice of the Owners delivered pursuant to this Agreement shall be effective only if signed by the Super-majority Owners at the time of the delivery of such notice.
Appears in 1 contract
Samples: Alternative Servicing Agreement (National Collegiate Student Loan Trust 2007-2)
Super-Majority Control. Except as otherwise expressly provided in this Agreement, any action which may be taken or consent or instructions which may be given by the Owners under this Agreement may be taken by the Owners holding in the aggregate at least 85% of both the Percentage Interests and the Sharing Ratios in the Trust at the time of such action (the “Super-majority Owners”). Any written notice of the Owners delivered pursuant to this Agreement shall be effective only if signed by the Super-majority Owners at the time of the delivery of such notice.
Appears in 1 contract
Samples: Trust Agreement (National Collegiate Student Loan Trust 2005-2)
