Noteholder Direction definition

Noteholder Direction has the meaning set forth in Section 7.6(a) of the Indenture.

Noteholder Direction means any notice of Default, notice of acceleration or instruction to the Trustee to provide a notice of Default, notice of acceleration or take any other action.

Noteholder Direction has the meaning specified in Section 5.02.

Examples of Noteholder Direction in a sentence

• Nothing in this Indenture shall impair the right of the Indenture Trustee to take any action deemed proper by it and which is not inconsistent with such Extraordinary Noteholder Direction.

• The Indenture Trustee is authorized without a Noteholder Direction unless expressly required under this Indenture, to deliver or direct the Trust to deliver a Co-Owner Direction (as so defined in the Pooling and Servicing Agreement) in circumstances where a provision of any of the Programme Agreements requires or permits any action to be taken, any decision to be made or any matter to be determined by a Co-Owner Direction.

• Any breach of the Position Representation shall result in such Holder’s participation in such Noteholder Direction being disregarded; and, if, without the participation of such Holder, the percentage of Notes held by the remaining Holders that provided such Noteholder Direction would have been insufficient to validly provide such Noteholder Direction, such Noteholder Direction shall be void ab initio, with the effect that such Event of Default shall be deemed never to have occurred.

• In addition, each Directing Holder must, at the time of providing a Noteholder Direction, make a Verification Covenant.

• Notwithstanding anything in this Section 5.09 to the contrary, any Noteholder Direction delivered to the Trustee during the pendency of an Event of Default as the result of a bankruptcy or similar insolvency proceeding shall not require compliance with the foregoing paragraphs in this Section 5.09.

More Definitions of Noteholder Direction

Noteholder Direction has the meaning assigned to it in Section 6.02(d).

Noteholder Direction has the meaning assigned to such term in Section 7.05.

Noteholder Direction means in respect of an action to be taken or a power to be exercised by holders of the Series 2020-1 Notes and which action relates solely to such Series 2020-1 Notes: (a) a direction by the holders of the Series 2020-1 Notes representing more than 66⅔% of the principal amount of the Series 2020-1 Notes (or, in the case of any waiver of the commencement of the Amortization Period with respect to the Series 2020-1 Ownership Interest, a direction by the holders of the Series 2020-1 Senior Notes representing more than 66⅔% of the principal amount of the Series 2020-1 Senior Notes and a direction by the holders of the Series 2020-1 Subordinated Notes representing more than 66⅔% of the principal amount of the Series 2020-1 Subordinated Notes) (as determined in the manner described in the Series 2020-1 Supplement) then outstanding properly represented at a duly constituted meeting of the holders of the Series 2020-1 Notes (or, in the case of any waiver of the commencement of the Amortization Period with respect to the Series 2020-1 Ownership Interest, at a duly constituted meeting of the holders of the Series 2020-1 Senior Notes and a duly constituted meeting of the holders of the Series 2020-1 Subordinated Notes, respectively) called for the purpose of providing such direction in accordance with the Indenture, or (b) a direction pursuant to a document or documents in writing signed by the holders of the Series 2020-1 Notes representing more than 66⅔% of the principal amount of the Series 2020-1 Notes (or, in the case of any waiver of the commencement of the Amortization Period with respect to Series 2020-1 Ownership Interest, a direction pursuant to a document or documents in writing signed by the holders of the Series 2020-1 Senior Notes representing more than 66⅔% of the principal amount of the Series 2020-1 Senior Notes and a direction pursuant to a document or documents in writing signed by the holders of the Series 2020- 1 Subordinated Notes representing more than 66⅔% of the principal amount of the Series 2020-1 Subordinated Notes) then outstanding in accordance with the Indenture;

Noteholder Direction means, in each case, a direction in writing by the holders of at least one-fifth of the Aggregate Nominal Amount of the Notes outstanding, or a direction by an Extraordinary Resolution of the Noteholders.

Noteholder Direction has the meaning specified in Section 502(c) of this Indenture.

Noteholder Direction means, except as otherwise provided herein, (i) a direction by the Noteholders representing more than 50% of the aggregate unpaid principal amount of the Notes then outstanding represented at a meeting of the Noteholders called for the purpose of providing such direction in accordance with Article Eleven or (ii) a direction pursuant to a document or documents in writing signed by the Noteholders then outstanding in accordance with Section 11.15 hereof;

Noteholder Direction has the meaning set forth in Section 5.03(a) of this Supplemental Indenture.