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 may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest, (i) remove the Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iii) remove the Administrator pursuant to Section 9 of the Administration Agreement, (iv) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate Certificate Percentage InterestBalance, (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII of the Sale and Servicing Agreementthereof, (iib) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement8 thereof, (ivd) appoint a successor Administrator pursuant to Section 9 8 of the Administration Agreement or (ve) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction Basic Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate Aggregate Certificate Percentage InterestBalance, (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII of the Sale and Servicing Agreementthereof, (iib) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement, thereof or (ivd) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction DocumentsAgreement.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate Certificate Percentage InterestBalance, (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII VII thereof, (b) appoint a successor Servicer pursuant to Article VII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement, thereof or (ivd) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction DocumentsAgreement.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest, (i) remove the Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer other than the Backup Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iii) remove the Administrator pursuant to Section 9 of the Administration Agreement, (iv) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest, (i) remove the Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer other than the Backup Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iii) remove the Administrator pursuant to Section 9 9.1 of the Administration Agreement, (iv) appoint a successor Administrator pursuant to Section 9 9.1 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate Certificate Percentage InterestInterests evidenced by the Certificates, (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII VII thereof, (b) appoint a successor Servicer pursuant to Article VII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement, thereof or (ivd) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction DocumentsAgreement.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing a Servicer Termination Event, subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates Certificateholders evidencing not less than 51% of the aggregate Certificate Percentage Interest, (i) remove the Master Servicer pursuant to Article VIII Seven of the Sale and Servicing Agreement, (ii) appoint a successor Successor Servicer pursuant to Article VIII Seven of the Sale and Servicing Agreement, (iii) remove the Administrator pursuant to Section 9 1.09 of the Administration Agreement, (iv) appoint a successor Administrator pursuant to Section 9 1.09 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction Basic Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest, (i) remove the Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer [other than the Backup Servicer] pursuant to Article VIII of the Sale and Servicing Agreement, (iii) remove the Administrator pursuant to Section 9 of the Administration Agreement, (iv) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing a Servicer Termination Event, subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates Certificateholders evidencing not less than 51% of the aggregate Certificate Percentage Interest, (i) remove the Servicer pursuant to Article VIII Seven of the Sale and Servicing Agreement, (ii) appoint a successor Successor Servicer pursuant to Article VIII Seven of the Sale and Servicing Agreement, (iii) remove the Administrator pursuant to Section 9 1.09 of the Administration Agreement, (iv) appoint a successor Administrator pursuant to Section 9 1.09 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction Basic Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate Certificate Percentage Interest, (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII VII thereof, (b) appoint a successor Servicer pursuant to Article VII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement, thereof or (ivd) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction DocumentsAgreement.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate Certificate Percentage InterestBalance, (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII of the Sale and Servicing Agreementthereof, (iib) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement, thereof or (ivd) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction DocumentsAgreement.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing a Servicer Termination Event, subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates Certificateholders evidencing not less than 51% of the aggregate Certificate Percentage Interest, (i) remove the Master Servicer pursuant to Article VIII Seven of the Sale and Servicing Agreement, (ii) appoint a successor Successor Master Servicer pursuant to Article VIII Seven of the Sale and Servicing Agreement, (iii) remove the Administrator pursuant to Section 9 1.09 of the Administration Agreement, (iv) appoint a successor Administrator pursuant to Section 9 1.09 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction Basic Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the principal of the Notes and any accrued and unpaid interest thereon in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate Certificate Percentage InterestBalance, (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII VII thereof, (b) appoint a successor Servicer pursuant to Article VII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement8 thereof, (ivd) appoint a successor Administrator pursuant to Section 9 8 of the Administration Agreement or (ve) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction Basic Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate Certificate Percentage InterestBalance, to (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII of the Sale and Servicing Agreementthereof, (iib) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement8 thereof, (ivd) appoint a successor Administrator pursuant to Section 9 8 of the Administration Agreement or (v) e), sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction Basic Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate Certificate Percentage InterestInterests evidenced by the Certificates, (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII VII thereof, (b) appoint a successor Servicer pursuant to ArticleVII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement, thereof or (ivd) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction DocumentsAgreement.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Insurer, if an Insurer Default shall not have occurred and be continuing, and the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage InterestBalance, (i) remove the Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iii) remove the Administrator pursuant to Section 9 of the Administration Agreement, (iv) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables Contracts after the termination of the Indenture, except as expressly provided in the Transaction Documents.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate Aggregate Certificate Percentage InterestBalance, (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII of the Sale and Servicing Agreementthereof, (iib) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator Adminis- trator under the Administration Agreement pursuant to Section 9 of the Administration Agreement, thereof or (ivd) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction DocumentsAgreement.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Class D Certificateholders holding not less than a majority of the Certificate Balance and holders of Class E Certificates evidencing at least a 51% of the aggregate Certificate Percentage Interest, (ia) remove [a] [the] Servicer under the Servicer related Servicing Agreement pursuant to Article VIII of the Sale and Servicing AgreementVII thereof, (iib) appoint a successor Servicer pursuant to Article VIII VII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement, thereof or (ivd) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction DocumentsAgreement.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not, except upon the occurrence of an Event of Servicing Termination subsequent to the payment in full of the Notes and in accordance with the written direction of the Holders of Certificates evidencing Certificateholders holding not less than 51% a majority of the aggregate [Percentage Interests evidenced by the Certificates] [Certificate Percentage InterestBalance], (ia) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII VII thereof, (b) appoint a successor Servicer pursuant to Article VII of the Sale and Servicing Agreement, (ii) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (iiic) remove the Administrator under the Administration Agreement pursuant to Section 9 of the Administration Agreement, thereof or (ivd) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (v) sell the Receivables after the termination of the Indenture, except as expressly provided in the Transaction DocumentsAgreement.