Common use of Action by Certificateholders with Respect to Certain Matters Clause in Contracts

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereof. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 126 contracts

Samples: Trust Agreement (Santander Drive Auto Receivables Trust 2024-3), Trust Agreement (Santander Drive Auto Receivables Trust 2024-3), Trust Agreement (Santander Drive Auto Receivables Trust 2024-2)

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Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) 10 thereof, appoint a successor Administrator pursuant to Section 10 of the Administration Agreement, remove the Servicer under the Administration Servicing Agreement pursuant to Section 8 thereof7.02 thereof or, except as expressly provided in the Basic Documents, sell the Receivables or any interest therein after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 61 contracts

Samples: Trust Agreement (Ally Auto Receivables Trust 2024-1), Trust Agreement (Ally Auto Receivables Trust 2024-1), Trust Agreement (Ally Auto Receivables Trust 2023-1)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to to: (a) remove the Administrator under the Administration Agreement, (b) appoint a successor Administrator, (c) remove the Servicer under the Sale and Servicing Agreement; or (d) except as expressly provided in the Transaction Basic Documents, sell the Collateral Receivables after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 56 contracts

Samples: Trust Agreement (CNH Equipment Trust 2024-B), Trust Agreement (CNH Equipment Trust 2024-A), Trust Agreement (CNH Equipment Trust 2023-B)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, and with the consent of the Credit Enhancer, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or thereof, (cb) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofof the Administration Agreement, (c) remove the Servicer under the Servicing Agreement pursuant to Sections 7.01 and 8.05 thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Collateral after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority CertificateholdersCertificateholders and with the consent of the Credit Enhancer.

Appears in 36 contracts

Samples: Trust Agreement (Shellpoint Mortgage Acceptance LLC), Trust Agreement (Credit Suisse First Boston Mortgage Securities Corp), Trust Agreement (Ab Mortgage Securities Corp)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority CertificateholdersCertificateholders to, to (a) except as expressly provided in the Transaction Basic Documents, sell the Collateral Mortgage Loans after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 36 contracts

Samples: Trust Agreement, Trust Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-5), Trust Agreement (Bear Stearns ARM Trust 2006-1)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, Certificateholders to (a) remove the Master Servicer under the Servicing Agreement pursuant to Sections 7.01 and 8.05 thereof or (b) except as expressly provided in the Transaction Basic Documents, sell the Collateral Mortgage Loans after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 36 contracts

Samples: Trust Agreement (New Century Home Equity Loan Trust 2005-2), Trust Agreement (New Century Home Equity Loan Trust 2005-3), Trust Agreement (Imh Assets Corp., Collateralized Asset-Backed Bonds, Series 2005-4)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or thereof, (cb) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereof, or (c) remove the Servicer under the Exchange Note Servicing Supplement pursuant to Section 14.1. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 35 contracts

Samples: Trust Agreement (World Omni LT), Trust Agreement (World Omni LT), Trust Agreement (World Omni LT)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofof the Administration Agreement. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 34 contracts

Samples: Trust Agreement (Capital One Prime Auto Receivables Trust 2023-2), Trust Agreement (Capital One Prime Auto Receivables Trust 2023-2), Trust Agreement (Capital One Prime Auto Receivables Trust 2023-1)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of Certificateholders of Certificates evidencing not less than a majority of the Majority Certificateholdersaggregate Certificate Percentage Interest of each Class of Certificates, and with the consent of the Enhancer, to (a) remove the Servicer under the Servicing Agreement pursuant to Section 7.01 thereof or (b) except as expressly provided in the Transaction Basic Documents, sell the Collateral Mortgage Loans after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereof. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority CertificateholdersIndenture.

Appears in 24 contracts

Samples: Trust Agreement (BellaVista Finance CORP), Trust Agreement (GMACM Home Equity Loan Trust 2006-He1), Trust Agreement (GMACM Home Equity Loan Trust 2006-He5)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofof the Administration Agreement. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholderseach Certificateholder.

Appears in 23 contracts

Samples: Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Usaa Acceptance LLC), Trust Agreement (Usaa Acceptance LLC)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in remove the Transaction Documents, sell Servicer under the Collateral after the termination of the Indenture in accordance with its termsSale and Servicing Agreement pursuant to Article VIII thereof, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under except as expressly provided in the Administration Agreement pursuant to Section 8 thereofBasic Documents, sell the Receivables or any interest therein after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 22 contracts

Samples: Trust Agreement (Chase Auto Owner Trust 2006-A), Trust Agreement (Chase Auto Owner Trust 2005-B), Trust Agreement (Chase Auto Owner Trust 2005-A)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to to: (a) remove the Administrator under the Administration Agreement, (b) appoint a successor Administrator, (c) remove the Servicer under the Sale and Servicing Agreement or (d) except as expressly provided in the Transaction Basic Documents, sell the Collateral Receivables after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 22 contracts

Samples: Trust Agreement (CNH Equipment Trust 2005-A), Trust Agreement (CNH Capital Receivables Inc), Trust Agreement (CNH Capital Receivables Inc)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, power (i) except upon the written direction of the Majority Certificateholders, to remove the Administrator under the Administration Agreement pursuant to Section 10 thereof, appoint a successor Administrator pursuant to Section 10(e) of the Administration Agreement or, (aii) except as expressly provided in the Transaction Documents, sell the Collateral after Grantor Trust Certificate or any interest therein prior to the termination of the Indenture in accordance with its terms, (b) remove and the Administrator under termination of the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofGrantor Trust. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 19 contracts

Samples: Trust Agreement (Carvana Auto Receivables Trust 2022-P1), Trust Agreement (Carvana Auto Receivables Trust 2022-P1), Trust Agreement (Carvana Auto Receivables Trust 2021-P4)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) 10 thereof, appoint a successor Administrator pursuant to Section 10 of the Administration Agreement, remove the Servicer under the Administration Trust Sale and Servicing Agreement pursuant to Section 8 thereof7.02 thereof or except as expressly provided in the Basic Documents, sell the Receivables or any interest therein after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 17 contracts

Samples: Trust Agreement (Capital Auto Receivables Inc), Trust Agreement (Capital Auto Receivables Inc), Trust Agreement (Capital Auto Receivables Inc)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) 10 thereof, appoint a successor Administrator pursuant to Section 10 of the Administration Agreement, remove the Servicer under the Administration Servicing Agreement pursuant to Section 8 thereof7.02 thereof or, except as expressly provided in the Basic Documents, sell the Receivables or any interest therein after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 14 contracts

Samples: Trust Agreement (Ally Auto Receivables Trust 2012-2), Trust Agreement (Ally Auto Receivables Trust 2012-2), Trust Agreement (Ally Auto Receivables Trust 2012-1)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) 10 thereof, appoint a successor Administrator pursuant to Section 10 of the Administration Agreement, remove the Servicer under the Administration Trust Sale and Servicing Agreement pursuant to Section 8 thereof7.02 thereof or, except as expressly provided in the Basic Documents, sell the Receivables or any interest therein after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 11 contracts

Samples: Trust Agreement (Capital Auto Receivables Asset Trust 2016-3), Trust Agreement (Capital Auto Receivables Asset Trust 2016-3), Trust Agreement (Capital Auto Receivables Asset Trust 2016-2)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof of the Administration Agreement or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofof the Administration Agreement. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority CertificateholdersCertificateholders at the time of such action.

Appears in 10 contracts

Samples: Trust Agreement (Fifth Third Auto Trust 2023-1), Trust Agreement (Fifth Third Auto Trust 2023-1), Trust Agreement (Fifth Third Holdings Funding, LLC)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) and except as expressly provided in the Transaction Basic Documents, to sell the Collateral Mortgage Loans after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 10 contracts

Samples: Trust Agreement (American Home Mortgage Investment Trust 2005-4), Trust Agreement (American Home Mortgage Investment Trust 2005-4), Trust Agreement (American Home Mortgage Investment Trust 2005-3)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of Certificateholders evidencing not less than a majority of the Majority Certificateholdersaggregate Certificate Percentage Interest of the Certificates, and with the consent of the Enhancer, to (a) remove the Servicer under the Servicing Agreement pursuant to Section 7.01 thereof or (b) except as expressly provided in the Transaction Basic Documents, sell the Collateral Mortgage Loans after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereof. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority CertificateholdersIndenture.

Appears in 9 contracts

Samples: Trust Agreement (Wachovia Mortgage Loan Trust, LLC), Trust Agreement (Wachovia Asset Securitization Inc 2002 He2 Trust), Trust Agreement (Wachovia Asset Securitization Inc 2002 He2 Trust)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of Certificateholders of Certificates evidencing not less than a majority of the Majority Certificateholdersaggregate Certificate Percentage Interest, and with the consent of the Credit Enhancer, to (a) remove the Servicer under the Servicing Agreement pursuant to Section 7.01 thereof or (b) except as expressly provided in the Transaction Basic Documents, sell the Collateral Home Loans after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereof. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority CertificateholdersIndenture.

Appears in 8 contracts

Samples: Trust Agreement (GMACM Home Loan Trust 2006-Hltv1), Trust Agreement (Residential Asset Mortgage Products Inc), Trust Agreement (Residential Asset Mortgage Products Inc)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of Certificateholders of Certificates evidencing not less than a majority of the Majority Certificateholders, aggregate Certificate Percentage Interest of each Class of Certificates to (a) remove the Servicer under the Servicing Agreement pursuant to Section 7.01 thereof or (b) except as expressly provided in the Transaction Basic Documents, sell the Collateral Mortgage Loans after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereof. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority CertificateholdersIndenture.

Appears in 5 contracts

Samples: Trust Agreement (Residential Asset Mort Prod Inc Gmacm Home Eq L N Tr 04 He2), Trust Agreement (Residential Asset Mortgage Products Inc), Trust Agreement (Residential Asset Mortgage Prod Inc Gmacm Mor Ln Tr 2003-Gh1)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofof the Administration Agreement. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority CertificateholdersCertificateholders at the time of such action.

Appears in 5 contracts

Samples: Trust Agreement (Fifth Third Holdings Funding, LLC), Trust Agreement (Fifth Third Auto Trust 2014-2), Trust Agreement (Fifth Third Auto Trust 2014-1)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of Certificateholders of Certificates evidencing not less than a majority of the Majority Certificateholdersaggregate Certificate Percentage Interest of each Class of Certificates, to (a) remove the Servicer under the Servicing Agreement pursuant to Section 7.01 thereof or (b) except as expressly provided in the Transaction Basic Documents, sell the Collateral Mortgage Loans after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereof. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority CertificateholdersIndenture.

Appears in 4 contracts

Samples: Trust Agreement (Phoenix Residential Securities, LLC), Trust Agreement (Phoenix Residential Securities, LLC), Trust Agreement (GMACM Home Equity Loan Trust 2007-He3)

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Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, power (a) except upon the written direction of the Majority Certificateholders, to remove the Administrator under the Administration Agreement pursuant to Section 10 thereof, appoint a successor Administrator pursuant to Section 10(e) of the Administration Agreement or, (ab) except as expressly provided in the Transaction Documents, sell the Collateral after Grantor Trust Certificate or any interest therein prior to the termination of the Indenture in accordance with its terms, (b) remove and the Administrator under termination of the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofGrantor Trust. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 4 contracts

Samples: Trust Agreement (Carvana Auto Receivables Trust 2024-P2), Trust Agreement (Carvana Auto Receivables Trust 2024-P2), Trust Agreement (Carvana Auto Receivables Trust 2022-P3)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Majority Certificateholders, to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII thereof or (b) except as expressly provided in the Transaction Basic Documents, sell the Collateral Receivables after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 4 contracts

Samples: Trust Agreement (GS Auto Loan Trust 2005-1), Trust Agreement (GS Auto Loan Trust 2007-1), Trust Agreement (GS Auto Loan Trust 2006-1)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Majority Certificateholders, to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII thereof, (b) amend the Sale and Servicing Agreement pursuant to Section 10.01(b) of such document, or (c) except as expressly provided in the Transaction Basic Documents, sell the Collateral Receivables after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 3 contracts

Samples: Trust Agreement (Morgan Stanley Auto Loan Trust 2004-Hb1), Trust Agreement (Morgan Stanley Auto Loan Trust 2003-Hb1), Trust Agreement (Goldman Sachs Asset Backed Securities Corp)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofof the Administration Agreement. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.each Certificateholder. 708333927 14443670 8 Amended and Restated Trust Agreement (USAA 2014-1)

Appears in 2 contracts

Samples: Trust Agreement (USAA Auto Owner Trust 2014-1), Trust Agreement (Usaa Acceptance LLC)

Action by Certificateholders with Respect to Certain Matters. [The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or 9 thereof, (cb) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement, (c) remove the Servicer under the Administration Sale and Servicing Agreement pursuant to Section 8 thereof10.1 thereof or (d) sell the Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.]

Appears in 2 contracts

Samples: Trust Agreement (Residential Asset Funding Corp), Trust Agreement (Home Equity Securitization Corp)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in remove the Transaction DocumentsAdministrator pursuant to the Administration Agreement, (b) appoint a successor Administrator pursuant to the Administration Agreement, (c) remove the Master Servicer pursuant to the Sale and Servicing Agreement, (d) remove the Servicer pursuant to the Servicing Agreement, or (e) sell the Collateral Home Loans after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 2 contracts

Samples: Mego Financial Corp, Mego Mortgage Corp

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in remove the Transaction Documents, sell Servicer under the Collateral after the termination of the Indenture in accordance with its termsSale and Servicing Agreement pursuant to Article VIII thereof, (b) remove the either Administrator under the an Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under except as expressly provided in the Administration Agreement pursuant to Section 8 thereofBasic Documents, sell the Receivables or any interest therein after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 2 contracts

Samples: Trust Agreement (Chase Manhattan Bank Usa), Trust Agreement (Chase Manhattan Bank Usa)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Majority CertificateholdersCertificateholders evidencing not less than a majority of the Certificate Balance, to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 9.01 thereof, (b) appoint a successor Servicer pursuant to Section 9.02 of the Sale and Servicing Agreement, or (c) except as expressly provided in the Transaction Basic Documents, sell the Collateral Contracts or any interest therein after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereof. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority CertificateholdersIndenture.

Appears in 2 contracts

Samples: Trust Agreement (Cit Rv Trust 1998-A), Trust Agreement (Cit Rv Trust 1999-A)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to to: (a) remove the Administrator under the Xxxxxxxxxxxxxx Xxxxxxxxx, (x) appoint a successor Administrator, (c) remove the Servicer under the Sale and Servicing Agreement or (d) except as expressly provided in the Transaction Basic Documents, sell the Collateral Receivables after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 1 contract

Samples: Trust Agreement (CNH Equipment Trust 2006-B)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to power (a) to remove the Master Servicer under the Master Sale and Servicing Agreement or (b) except as expressly provided in the Transaction DocumentsIndenture and the related Series Supplement and at the direction of the Certificateholders, sell the Collateral Receivables after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Appears in 1 contract

Samples: Execution (Household Automobile Revolving Trust I)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority CertificateholdersCertificateholders in accordance with the Basic Documents, to to: (a) except as expressly provided in remove the Transaction Documents, sell Servicer under the Collateral after the termination of the Indenture in accordance with its terms, Sale Agreement; (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or Agreement; (c) appoint a successor Administrator under except as expressly provided in the Administration Agreement pursuant to Section 8 thereofBasic Documents, sell any portion of the Trust Estate after the termination of the Indenture or the Sale Agreement; or (d) amend the Certificate of Trust. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 1 contract

Samples: Trust Agreement (Textron Financial Corp)

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofof the Administration Agreement. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.Certificateholders.β€Œ

Appears in 1 contract

Samples: Trust Agreement

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the powerpower [, except upon the direction of the Majority Certificateholders, to (a) remove the Servicer under the Transfer and Servicing Agreement pursuant to Section 8.01 thereof or], except as expressly provided in the Transaction Basic Documents, to sell the Collateral Receivables after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofIndenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 1 contract

Samples: Trust Agreement (Deutsche Recreational Asset Funding Corp)

Action by Certificateholders with Respect to Certain Matters. The CARAT Owner Trustee shall not have the power, except upon the written direction of the Majority Certificateholders, to (a) remove the Administrator under the Trust Sale and Administration Agreement pursuant to Section 7.02 thereof, appoint a successor Administrator under the Trust Sale and Administration Agreement or except as expressly provided in the CARAT Transaction Documents, sell the Collateral Secured Notes or any interest therein after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 thereofCARAT Indenture. The CARAT Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders.

Appears in 1 contract

Samples: Capital Auto Receivables LLC

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