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 (i) pursuant to Article Seven of the Sale and Servicing Agreement, remove the Servicer or appoint a Successor Servicer or (ii) remove the Administrator pursuant to Section 1.09 of the Administration Agreement unless Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests direct the Owner Trustee to take such action (a) upon the occurrence of the termination of the Servicer pursuant to Article Seven of the Sale and Servicing Agreement and (b) subsequent to the payment in full of the Notes.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not (i) pursuant to Article Seven of the Sale and Servicing Agreement, remove the Servicer or appoint a Successor Servicer or (ii) remove the Administrator pursuant to Section 1.09 of the Administration Agreement unless Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests Majority Certificateholders direct the Owner Trustee to take such action (a) upon the occurrence of the termination of the Servicer pursuant to Article Seven of the Sale and Servicing Agreement and (b) subsequent to the payment in full of the Notes.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not (i) pursuant to Article Seven of the Sale and Servicing Agreement, remove the Servicer or appoint a Successor Servicer or (ii) remove the Administrator pursuant to Section 1.09 of the Administration Agreement unless Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests Interest direct the Owner Trustee to take such action (a) upon the occurrence of the termination of the Servicer pursuant to Article Seven of the Sale and Servicing Agreement and (b) subsequent to the payment in full of the Notes.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not (i) pursuant to Article Seven of the Sale and Servicing Agreementnot, remove the Servicer or appoint a Successor Servicer or (ii) remove the Administrator pursuant to Section 1.09 of the Administration Agreement unless Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests direct the Owner Trustee to take such action (a) except upon the occurrence of the termination an Event of the Servicer pursuant to Article Seven of the Sale and Servicing Agreement and (b) Termination subsequent to the payment in full of the NotesNotes and in accordance with the written direction of a majority of the Controlling Certificate Class, (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Article VIII thereof, (b) appoint a successor Servicer pursuant to Article VIII of the Sale and Servicing Agreement, (c) remove the Administrator under the Administration Agreement pursuant to Section 9 thereof or (d) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not (i) pursuant not, except upon the occurrence of an Event of Servicing Termination subsequent to Article Seven the payment in full of the Sale Notes and Servicing Agreement, remove in accordance with the Servicer or appoint a Successor Servicer or (ii) remove the Administrator pursuant to Section 1.09 written direction of the Administration Agreement unless Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests direct the Owner Trustee to take such action Interest, (ai) upon the occurrence of the termination of remove the Servicer pursuant to Article Seven VIII of the Sale and Servicing Agreement and (b) subsequent to the payment in full of the Notes.Agreement,

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not (i) pursuant to Article Seven of the Sale and Servicing Agreement, remove the Servicer or appoint a Successor Servicer or (ii) remove the Administrator pursuant to Section 1.09 of the Administration Agreement unless Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests direct Interest directs the Owner Trustee to take such action (a) upon the occurrence of the termination of the Servicer pursuant to Article Seven of the Sale and Servicing Agreement and (b) subsequent to the payment in full of the Notes.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee may not (i) pursuant to Article Seven of the Sale and Servicing Agreement, remove the Servicer or appoint a Successor Servicer or (ii) remove the Administrator pursuant to Section 1.09 of the Administration Agreement unless Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests direct Interest directs the Owner Trustee to take such action (a) upon the occurrence of the termination of the Servicer pursuant to Article Seven of the Sale and Servicing Agreement and or (b) subsequent to the payment in full of the NotesNotes and in accordance with the written direction of the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest.