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.
Appears in 46 contracts
Samples: Trust Agreement (Chrysler Financial Auto Securitization Trust 2010-A), Trust Agreement (Chrysler Financial Services Americas LLC), Trust Agreement (DaimlerChrysler Auto Trust 2007-A)
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.
Appears in 5 contracts
Samples: Trust Agreement (Nal Financial Group Inc), Trust Agreement (Nal Financial Group Inc), Trust Agreement (Nal Financial Group Inc)
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.
Appears in 5 contracts
Samples: Trust Agreement (Goldman Sachs Asset Backed Securities Corp), Trust Agreement (Bond Securitization LLC), Trust Agreement (Bond Securitization LLC)
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.]
Appears in 5 contracts
Samples: Owner Trust Agreement (Bcap LLC), Owner Trust Agreement (Bcap LLC), Owner Trust Agreement (Painewebber Mortgage Acceptance Corporation Iv)
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.
Appears in 4 contracts
Samples: Trust Agreement (Mego Financial Corp), Trust Agreement (Mego Mortgage Corp), Trust Agreement (Mego Mortgage Corp)
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.
Appears in 4 contracts
Samples: Owner Trust Agreement (Painewebber Mortgage Acceptance Corporation Iv), Agreement (Empire Funding Home Loan Owner Trust 1998-1), Empire Funding Home Loan Owner Trust 1997-5
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.
Appears in 3 contracts
Samples: Trust Agreement (Firstplus Investment Corp), Trust Agreement (Firstplus Investment Corp), Trust Agreement (Firstplus Investment Corp)
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.
Appears in 3 contracts
Samples: Trust Agreement (Chase Manhattan Acceptance Corp /De/), Trust Agreement (Chase Funding Inc), Trust Agreement (J P Morgan Acceptance Corp I)
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.
Appears in 3 contracts
Samples: Trust Agreement (Cwabs Inc), Trust Agreement (Morgan Stanley Abs Capital I Inc), Trust Agreement (Morgan Stanley Abs Capital I Inc)
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).
Appears in 2 contracts
Samples: Trust Agreement (Toyota Motor Credit Corp), Trust Agreement (Toyota Motor Credit Corp)
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.
Appears in 2 contracts
Samples: Agreement (Life Financial Home Loan Owner Trust 1997-3), Trust Agreement (Empire Funding Home Loan Owner Trust 1997-4)
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.
Appears in 2 contracts
Samples: Trust Agreement (HMB Acceptance Corp.), Trust Agreement (HMB Acceptance Corp.)
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.
Appears in 2 contracts
Samples: Trust Agreement (Gs Mortgage Securities Corp), Trust Agreement (Goldman Sachs Asset Backed Securities Corp)
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.
Appears in 2 contracts
Samples: Trust Agreement (Bayview Financial Securities Co LLC), Trust Agreement (BLG Securities Company, LLC)
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.
Appears in 1 contract
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.
Appears in 1 contract
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).
Appears in 1 contract
Samples: Trust Agreement (Capitalsource Inc)
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.
Appears in 1 contract
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.
Appears in 1 contract
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.
Appears in 1 contract
Samples: Form of Trust Agreement (Asset Backed Securities Corp)
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.
Appears in 1 contract
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.
Appears in 1 contract
Samples: Trust Agreement (Painewebber Mort Accept Corp Iv Empire Funding 1999-1)
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.
Appears in 1 contract
Samples: Owner Trust Agreement (Painewebber Mort Accept Corp Iv Ditech Home Loan Ownr 1998-1)
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.
Appears in 1 contract