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

Action by Owner with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, the Owner Trustee shall not have the power, except upon the direction of the Owner, to (a) remove the Administrator pursuant to Section 8 of the Administration Agreement, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer pursuant to Article VIII of the Pooling Agreement, (d) except as expressly provided in the relevant Transaction Documents, release or convey from the Trust any Trust Assets, (e) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, (f) authorize the merger or consolidation of the Trust with or into any other business trust or entity (other than in accordance with applicable restrictions or conditions thereon contained in a Transaction Document) or (g) amend the Certificate of Trust. The Owner Trustee shall take the actions referred to in the preceding sentence upon (and only upon) written instructions signed by the Owner.

Action by Owner with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, the Owner Trustee shall not have the power, except upon the direction of the Owner, to (a) remove the Administrator pursuant to Section 8 of the Administration Agreement, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer pursuant to Article VIII Section 8.02 of the Pooling Transfer and Servicing Agreement, (d) except as expressly provided in the relevant Transaction Documents, release sell the Contracts or convey from other Trust Assets after the Trust any Trust Assetstermination of the Indenture, (e) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, (f) authorize the merger or consolidation of the Trust with or into any other business trust or entity (other than in accordance with applicable restrictions or conditions thereon contained in a Transaction DocumentSection 3.10 of the Indenture) or (g) amend the Certificate of Trust. The Owner Trustee shall take the actions referred to in the preceding sentence only upon (and only upon) written instructions signed by the Owner.

Action by Owner with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, the Owner Trustee shall not have the power, except upon the direction of the Owner, to to: (a) remove the Administrator pursuant to Section 8 of the Administration Agreement, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer pursuant to Article VIII of the Pooling Agreement, (d) except as expressly provided in the relevant Transaction Documents, release or convey from the Trust any Trust Assets, (e) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, (f) authorize the merger or consolidation of the Trust with or into any other business trust or entity (other than in accordance with applicable restrictions or conditions thereon contained in a Transaction Document) or (g) amend the Certificate of Trust. The Owner Trustee shall take the actions referred to in the preceding sentence upon (and only upon) written instructions signed by the Owner.

Action by Owner with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, the Owner Trustee shall not have the power, except upon the direction of the Owner, to (a) remove the Administrator pursuant to Section 8 of the Administration Agreement, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer pursuant to Article VIII Section 8.01 of the Pooling Sale and Servicing Agreement, (d) except as expressly provided in the relevant Transaction Documents, release sell the Contracts or convey from other Trust Assets after the Trust any Trust Assetstermination of the Indenture, (e) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, (f) authorize the merger or consolidation of the Trust with or into any other business trust or entity (other than in accordance with applicable restrictions or conditions thereon contained in a Transaction DocumentSection 3.10 of the Indenture) or (g) amend the Certificate of Trust. The Owner Trustee shall take the actions referred to in the preceding sentence only upon (and only upon) written instructions signed by the Owner.

Action by Owner with Respect to Certain Matters. Subject to the provisions and limitations of Section 4.04, the Owner Trustee shall not have the power, except upon the direction of the Owner, to (a) remove the Administrator pursuant to Section 8 of the Administration Agreement, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer pursuant to Article VIII Section 8.01 of the Pooling Sale and Servicing Agreement, (d) except as expressly provided in the relevant Transaction Documents, release sell the Contracts or convey from other Trust Assets after the Trust any Trust Assetstermination of the Indenture, (e) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, (f) authorize the merger or consolidation of the Trust with or into any other business statutory trust or entity (other than in accordance with applicable restrictions or conditions thereon contained in a Transaction DocumentSection 3.10 of the Indenture) or (g) amend the Certificate of Trust. The Owner Trustee shall take the actions referred to in the preceding sentence only upon (and only upon) written instructions signed assigned by the Owner.