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 otherwise 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 the relevant Transaction Document) or (g) amend the Certificate of Trust (unless such amendment is required to be filed under the Business Trust Statute). Except to the extent otherwise provided in (d), (f) and (g) above, 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 of the Pooling Agreement, (d) except as otherwise 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 statutory trust or entity (other than in accordance with applicable restrictions or conditions thereon contained in the relevant Transaction Document) or (g) amend the Certificate of Trust (unless such amendment is required to be filed under the Business Statutory Trust Statute). Except to the extent otherwise provided in (d), (f) and (g) above, the Owner Trustee shall take the actions referred to in the preceding sentence upon (and only upon) written instructions signed by the Owner.