Examples of Directing party in a sentence
If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and an Event of Default shall have occurred and be continuing the Trustee shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments.
In the event that the Directing Party is the Noteholders, any such direction can only be given by way of Extraordinary Resolution or Written Resolution.
Without limiting the generality of the foregoing, for purposes of this Agreement, a signatory’s Affiliates shall be determined only in reference to the signatory’s fiduciary capacity; i.e., neither a Directing Party, nor an entity that directly or indirectly Controls, is under common Control with, or is Controlled by the signatory in its corporate, but not in its fiduciary capacity, is an Affiliate for purposes of this Agreement.
If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and an Event of Default shall have occurred and be continuing, the Trustee shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments.
If, in respect of a Series, a “Directing Party” is specified in the Additional Conditions, then, prior to the Security becoming enforceable, the Issuer shall, if so directed by such Directing Party (i) take such action in relation to the Secured Property and (ii) exercise any rights incidental to the ownership of the Secured Property (including voting rights), provided that it will not cause the Issuer to breach any of its obligations.