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 Controlling Party in accordance with the Basic Documents to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.1 thereof or (b) except as expressly provided in the Basic Documents, sell the Receivables 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 Certificateholders or the Controlling Party, as the case may be, and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Controlling Party in accordance with the Basic Documents to power (a) to remove the Master Servicer under the Master Sale and Servicing Agreement pursuant to Section 8.1 thereof or (b) except as expressly provided in the Basic DocumentsIndenture and the related Series Supplement and at the written direction of the Certificateholders, sell the Receivables 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 Certificateholders or the Controlling Party, as the case may be, and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Controlling Party in accordance with the Basic Documents to power (a) to remove the Master Servicer under the Master Sale and Servicing Agreement pursuant to Section 8.1 thereof or (b) except as expressly provided in the Basic DocumentsIndenture and the Series Supplement and at the written direction of the Certificateholders, sell the Receivables 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 Certificateholders or Certificateholders, with the prior written consent of the Insurer (for so long as it is the Controlling Party, as the case may be, ) and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Controlling Party Certificateholders in accordance with the Basic Documents Documents, to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.1 thereof following payment of the Notes in full or (b) except as expressly provided in the Basic Documents, sell the Receivables 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 Certificateholders or the Controlling Party, as the case may be, and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Controlling Party Certificateholders or the Insurer in accordance with the Basic Documents Documents, to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.1 thereof or (b) except as expressly provided in the Basic Documents, sell the Receivables 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 Certificateholders or the Controlling Party, as the case may be, and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Controlling Party Certificateholders or the Security Insurer in accordance with the Basic Documents Documents, to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.1 thereof or (b) except as expressly provided in the Basic Documents, sell the Receivables 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 Certificateholders or the Controlling Party, as the case may be, and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Controlling Party Class in accordance with the Basic Documents to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.1 thereof or (b) except as expressly provided in the Basic Documents, sell the Receivables 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 Certificateholders or the Controlling PartyClass, as the case may be, and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Controlling Party Certificateholders or the Insurer in accordance with the Basic Documents Documents, to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.1 10.1 thereof or (b) except as expressly provided in the Basic Documents, sell the Receivables 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 Certificateholders or the Controlling Party, as the case may be, and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Controlling Party in accordance with the Basic Documents to power (a) to remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.1 thereof or (b) except as expressly provided in the Basic DocumentsIndenture and the Series Supplement and at the written direction of the Certificateholders, sell the Receivables 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 Certificateholders or Certificateholders[, with the prior written consent of the Insurer (for so long as it is the Controlling Party, as the case may be, ),] and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Controlling Party Security Insurer in accordance with the Basic Documents to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.1 thereof or (b) except as expressly provided in the Basic Documents, sell the Receivables 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 Certificateholders or the Controlling PartySecurity Insurer, as the case may be, and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

Action by Certificateholders with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Controlling Party in accordance with the Basic Documents to power (a) to remove the Master Servicer under the Master Sale and Servicing Agreement pursuant to Section 8.1 thereof or (b) except as expressly provided in the Basic DocumentsIndenture and the Series Supplement and at the written direction of the Certificateholders, sell the Receivables 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 Certificateholders or Certificateholders[, with the prior written consent of the Insurer (for so long as it is the Controlling Party, as the case may be, )] and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.