Examples of Majority in Interest of Note Holders in a sentence
All votes of the Note Holders shall be governed by a vote of a Majority in Interest of Note Holders, except as otherwise provided herein.
Subject to the terms of Sections 5.06, 6.02 and 6.03 hereof, the Indenture Trustee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Indenture Trustee shall be instructed in writing by a Majority in Interest of Note Holders.
The Mortgagee will execute and the Owner will file such continuation statements with respect to financing statements relating to the security interest created hereunder in the Collateral as may be specified from time to time in written instructions of a Majority in Interest of Note Holders (which instructions shall be accompanied by the form of such continuation statement so to be filed).
In the administration of the trusts created hereunder, the Mortgagee shall have the right to seek instructions from a Majority in Interest of Note Holders should any provision of this Trust Indenture appear to conflict with any other provision herein or should the Mortgagee’s duties or obligations hereunder be unclear, and the Mortgagee shall incur no liability in refraining from acting until it receives such instructions.
In the case of the resignation or removal of the Securities Intermediary, so long as no Event of Default shall have occurred and be continuing, the Owner may appoint a successor Securities Intermediary or, if an Event of Default shall have occurred and be continuing, a Majority in Interest of Note Holders may appoint a successor Securities Intermediary, in each case by an instrument signed by the Owner or such holders, whichever shall have made such appointment.