ACTION BY THE CERTIFICATEHOLDER WITH RESPECT TO CERTAIN MATTERS. The Owner Trustee shall not have the power, except upon the direction of the Certificateholder to (a) remove the Master Servicer under the Servicing Agreement pursuant to Section 7.01 thereof or (b) except as expressly provided in the Basic Documents, sell the 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 Certificateholder.
Appears in 6 contracts
Samples: Owner Trust Agreement (Residential Funding Mortgage Securities Ii Inc), Owner Trust Agreement (Residential Funding Mortgage Securities Ii Inc), Owner Trust Agreement (Residential Funding Mortgage Securities Ii Inc)
