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

Action by Depositor 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, or the Depositor (with the consent of the Insurer, provided that an Insurer Default shall not have occurred and be continuing) (a) remove the Servicer pursuant to 5.02 of the Servicing Agreement, (b) appoint a successor Servicer pursuant to 5.02 of the Servicing Agreement, (c) remove the Administrator pursuant to Section 9 of the Administration Agreement, (d) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (e) sell the Contracts after the termination of the Indenture, except as expressly provided in the Transaction Documents.

Action by Depositor 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, or the Depositor (with the consent of the Insurer, provided that an Insurer Default shall not have occurred and be continuing) (a) remove the Servicer pursuant to 5.02 5.2 of the Servicing Agreement, (b) appoint a successor Servicer pursuant to 5.02 5.2 of the Servicing Agreement, (c) remove the Administrator pursuant to Section 9 of the Administration Agreement, (d) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (e) sell the Contracts after the termination of the Indenture, except as expressly provided in the Transaction Documents.

Action by Depositor 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, or the Depositor (with the consent of the Insurer, provided that an Insurer Default shall not have occurred and be continuing) (ai) remove the Servicer pursuant to 5.02 of the Servicing Agreement, (bii) appoint a successor Servicer pursuant to 5.02 of the Servicing Agreement, (ciii) remove the Administrator pursuant to Section 9 of the Administration Agreement, (div) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement or (ev) sell the Contracts after the termination of the Indenture, except as expressly provided in the Transaction Documents.