Examples of Holder of the Voting Interest in a sentence
For purposes of the Business Trust Statute, the Voting Interest shall be deemed a separate class of beneficial ownership interest in the Trust from all other beneficial ownership interests in the Trust, and the Holder of the Voting Interest, as such, shall be deemed a separate class of beneficial owner of the Trust from all other beneficial owners of the Trust.
In exercising such power and authority to give or withhold such consent, approval or vote, the Holder of the Voting Interest shall act only in accordance with and upon receipt of written instructions delivered to it by the Trustee (on which the Holder of the Voting Interest shall be fully protected in relying).
Except as otherwise specifically provided herein, any action that may be taken by the Certificateholders under this Agreement may be taken by the Holder of the Voting Interest.
Notwithstanding any provision herein or in any other document to the contrary, the Holder of the Voting Interest shall not have any personal liability for any liability or obligation of the Trust, any action taken or omitted pursuant to any written instructions of the Trustee, or otherwise relating to the Trust or its serving as the Holder of the Voting Interest.
Except as otherwise provided herein, any action requiring the consent, approval or vote of Certificateholders shall be taken only upon the written consent, approval or vote of the Holder of the Voting Interest.
Except as otherwise provided herein, the Holder of the Voting Interest shall have the sole power and authority to approve or disapprove actions requiring the approval or disapproval of Certificateholders.
Notwithstanding anything else set forth in this Indenture or the Basic Documents, the Trustee agrees that the obligations of the Issuer (but not the Servicer) to the Trustee hereunder and under the Basic Documents shall be recourse to the Trust Estate only and specifically shall not be recourse to the assets of the Holder of the Voting Interest, the Representative, any Originator or any Certificateholder.
The Holder of the Voting Interest shall have no right to receive any amounts hereunder or under any other Basic Document or any other economic rights as a beneficial owner of the Trust, and, except as otherwise expressly set forth herein, the Voting Interest shall not be deemed a Certificate and the Holder of the Voting Interest shall not be deemed a Holder (except as to benefit afforded Holders).
The Owner Trustee shall not have the power to, and shall not, commence a voluntary proceeding in bankruptcy relating to the Trust without the prior written approval of the Holder of the Voting Interest and the delivery to the Owner Trustee by the Holder of the Voting Interest of a certificate certifying that it reasonably believes that the Trust is insolvent.
Further, the Holder of the Voting Interest shall not direct the Owner Trustee to take or refrain from taking any action if such action or inaction would increase or reduce in any manner the amount of, or accelerate or delay the timing of collections of payments on Loans or distributions required to be made for the benefit of Certificateholders, or would adversely affect the Federal or state tax consequences to the Certificateholders, without the consent of all Certificateholders affected thereby.