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

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 thereof or (d) 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator under the Administration Agreement pursuant to Section 8 of the Administration Agreementthereof, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 thereof or (d) 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to to: (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 thereof or (db) 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 9 thereof, (b) appoint a successor Administrator pursuant to Section 8 9 of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Home Loans 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 OwnersOwners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities Insurer.]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Grantor Trust Certificate 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the OwnersOwners and the consent of the Securities Insurer, to (a) remove the Administrator under pursuant to the Administration Agreement pursuant to Section 8 thereofAgreement, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Master Servicer under pursuant to the Sale and Servicing Agreement pursuant to Section 8.01 thereof or Agreement, (d) except as expressly provided in remove the Basic DocumentsServicer pursuant to the Servicing Agreement, or (e) sell the Receivables Home Loans 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 OwnersOwners and only after obtaining the consent of the Securities Insurer.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the OwnersOwners and the consent of the Securities Insurer, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Home Loans 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 OwnersOwners and only after obtaining the consent of the Securities Insurer.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 [ ] thereof, (b) appoint a successor Administrator pursuant to Section 8 [ ] of the Administration Agreement, (c) remove the Master Servicer under the Sale and Master Servicing Agreement pursuant to Section 8.01 [ ] thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Mortgage Loans 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 [ ] thereof, (b) appoint a successor Administrator pursuant to Section 8 [ ] of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 [ ] thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Mortgage Loans 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the OwnersOwners and with the consent of the Securities Insurer or upon the direction of the Securities Insurer, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 9 thereof, (b) appoint a successor Administrator pursuant to Section 8 9 of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Home Loans 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 OwnersOwners and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities Insurer.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 [8] of the Administration Agreement, (c) remove the Master Servicer under the Sale Transfer and Servicing Agreement pursuant to Section 8.01 thereof [5.17] thereof, or (d) except as expressly provided in the Basic Operative Documents, sell the Receivables Loan Assets 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 Owners, subject to the terms of the Operative Documents.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereofof the Administration Agreement, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under pursuant to Section 8.01 of the Sale and Servicing Agreement pursuant to Section 8.01 thereof or (d) 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 Ownersauthorized representative of 100% of the Owners (excluding for such purposes Certificates owned by TMCRC, TMCC or any of their affiliates).

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 thereof or (db) 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Home Loans 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 [8] of the Administration Agreement, (c) remove the Master Servicer under the Sale Transfer and Servicing Agreement pursuant to Section 8.01 thereof [4.17] thereof, or (d) except as expressly provided in the Basic Operative Documents, sell the Receivables Loan Assets 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 Owners, subject to the terms of the Operative Documents.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer or the Master Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Grantor Trust Certificate 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 Owners.

Action by Owners with Respect to Certain Matters. The ------------------------------------------------ Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Grantor Trust Certificate 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 [ ] thereof, (b) appoint a successor Administrator pursuant to Section 8 [] of the Administration Agreement, (c) remove the Master Servicer under the Sale and Master Servicing Agreement pursuant to Section 8.01 [] thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Mortgage Loans 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 thereof or (d) 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 Owners.,

Action by Owners with Respect to Certain Matters. The ------------------------------------------------- Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 9 thereof, (b) appoint a successor Administrator pursuant to Section 8 9 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Home Loans 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 Owners.

Action by Owners with Respect to Certain Matters. The ------------------------------------------------ Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 thereof or (db) 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 9 thereof, (b) appoint a successor Administrator pursuant to Section 8 9 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Grantor Trust Certificate 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 7.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables Mortgage Loans 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 9 thereof, (b) appoint a successor Administrator pursuant to Section 8 9 of the Administration Agreement, Agreement or (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Receivables after the termination of the Indenture9.01 thereof. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners and consented to in a prior writing by the Majority Noteholders (which consent shall be obtained by the Owners).

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 [ ] thereof, (b) appoint a successor Administrator pursuant to Section 8 [] of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 [_] thereof or (d) or, except as expressly provided in the Basic Documents, sell the Receivables Home Equity Loans 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 Owners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the 13 18 Servicer or the Special Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 thereof 8.02 thereof, (d) amend the Sale and Servicing Agreement pursuant to Section 10.01(b) of such document, or (de) except as expressly provided in the Basic Documents, sell the Receivables Allied Interests or the Funding Note 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 Owners.