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

Action by Residual Certificateholders with Respect to Certain Matters. (a) Upon the written request from time to time of Residual Certificateholder(s) evidencing not less than 51% by Percentage Interest and subject to the prior review by the Insurer, the Owner Trustee shall take appropriate actions to remove Mortgage Loans from any Pool pursuant to Section 2.07 of the Sale and Servicing Agreement. The Owner Trustee shall notify the Insurer of any such proposed removal. The Owner Trustee will take such actions with respect to removal of Mortgage Loans as may from time to time be proposed by the Residual Certificateholders pursuant to Sections 5.2(b) and 5.5. (b) Upon the written request of any Residual Certificateholder (a "Proposer"), the Owner Trustee shall distribute promptly to all Residual Certificateholders any request for action or consent of Residual Certificateholders submitted by such Proposer, with a copy to the Manager. The Owner Trustee shall provide a reasonable method for collecting responses to such request and shall tabulate and report the results thereof to the Residual Certificateholders and the Manager. The Owner Trustee shall have no responsibility or duty to determine if any such proposed action or consent is permitted under the terms of this Agreement or applicable law.

Action by Residual Certificateholders with Respect to Certain Matters. (a) Upon the written request from time to time of Residual Certificateholder(s) evidencing not less than 51% by Percentage Interest and subject to the prior review by the Insurer, the Owner Trustee shall take appropriate actions to remove Mortgage Loans from any the Pool pursuant to Section 2.07 of the Sale and Servicing Agreement. The Owner Trustee shall notify the Insurer of any such proposed removal. The Owner Trustee will take such actions with respect to removal of Mortgage Loans as may from time to time be proposed by the Residual Certificateholders pursuant to Sections 5.2(b) and 5.5. (b) Upon the written request of any Residual Certificateholder (a "ProposerPROPOSER"), the Owner Trustee shall distribute promptly to all Residual Certificateholders any request for action or consent of Residual Certificateholders submitted by such Proposer, with a copy to the Insurer and the Manager. The Owner Trustee shall provide a reasonable method for collecting responses to such request and shall tabulate and report the results thereof to the Residual Certificateholders Certificateholders, the Insurer and the Manager. The Owner Trustee shall have no responsibility or duty to determine if any such proposed action or consent is permitted under the terms of this Agreement or applicable law.

Action by Residual Certificateholders with Respect to Certain Matters. (a) Upon the written request from time to time of Residual Certificateholder(s) evidencing not less than 51% by Percentage Interest and subject to the prior review by the InsurerControlling Party, the Owner Trustee shall take appropriate actions to remove Mortgage Loans from any Pool I and/or Pool II pursuant to Section 2.07 of the Sale and Servicing Agreement. The Owner Trustee shall notify the Insurer and Xxxxxxx Mac of any such proposed removal. The Owner Trustee will take such actions with respect to removal of Mortgage Loans as may from time to time be proposed by the Residual Certificateholders pursuant to Sections 5.2(b) and 5.5. (b) Upon the written request of any Residual Certificateholder or Class A-1 Securityholder (a "Proposer"), the Owner Trustee shall distribute promptly to all Residual Certificateholders or Class A-1 Securityholders, as appropriate any request for action or consent of Residual Certificateholders submitted by such Proposer, with a copy to the Manager. The Owner Trustee shall provide a reasonable method for collecting responses to such request and shall tabulate and report the results thereof to the Residual Certificateholders or Class A-1 Securityholders, as appropriate, and the Manager. The Owner Trustee shall have no responsibility or duty to determine if any such proposed action or consent is permitted under the terms of this Agreement or applicable law.

Action by Residual Certificateholders with Respect to Certain Matters. (a) Upon the written request from time to time of Residual Certificateholder(s) evidencing not less than 51% by Percentage Interest and subject to the prior review by the Insurer, the Owner Trustee shall take appropriate actions to remove Mortgage Loans from any Pool pursuant to Section 2.07 of the Sale and Servicing Agreement. The Owner Trustee shall notify the Insurer of any such proposed removal. The Owner Trustee will take such actions with respect to removal of Mortgage Loans as may from time to time be proposed by the Residual Certificateholders pursuant to Sections 5.2(b) and 5.5. (b) Upon the written request of any Residual Certificateholder (a "Proposer"), the Owner Trustee shall distribute promptly to all Residual Certificateholders any request for action or consent of Residual Certificateholders submitted by such Proposer, with a copy to the Insurer and the Manager. The Owner Trustee shall provide a reasonable method for collecting responses to such request and shall tabulate and report the results thereof to the Residual Certificateholders Certificateholders, the Insurer and the Manager. The Owner Trustee shall have no responsibility or duty to determine if any such proposed action or consent is permitted under the terms of this Agreement or applicable law.