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, or (e) authorize the merger or consolidation of the Trust with or into any other statutory trust or entity (other than in accordance with applicable restrictions or conditions thereon contained in the relevant Transaction Document). Except to the extent otherwise provided in (d) and (e) 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 Servicer pursuant to Section 8 8.02 of the Administration Transfer and Servicing Agreement, (b) appoint a successor Administrator pursuant to Section 8 except as expressly provided in the Transaction Documents, sell the Loans or other Trust Assets after the termination of the Administration AgreementIndenture, (c) remove initiate any claim, suit or proceeding by the Servicer pursuant to Article VIII of Trust or compromise any claim, suit or proceeding brought by or against the Pooling AgreementTrust, (d) except as otherwise expressly provided in the relevant Transaction Documents, release or convey from the Trust any Trust Assets, or (e) authorize the merger or consolidation of the Trust with or into any other statutory trust or entity (other than in accordance with applicable restrictions Section 3.10 of the Indenture) or conditions thereon contained in the relevant Transaction Document). Except to the extent otherwise provided in (d) and (e) above, 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.