ACTION UNDER UNDERLYING DOCUMENTS. 30 Section 9.03 AMENDMENT..................................................................30 Section 9.04
ACTION UNDER UNDERLYING DOCUMENTS. In the event that there are any matters arising under the Underlying Pooling and Servicing Agreement related to an Underlying Certificate which require the vote or direction of holders of the Underlying Certificates thereunder, the Grantor Trustee, as holder of the Underlying Certificates will vote such Underlying Certificate in accordance with the written instructions received from holders of Certificates evidencing at least 51% of the Fractional Undivided Interest. In the absence of any such instructions, the Grantor Trustee will not vote such Underlying Certificates. Upon written request, the Certificate Registrar as agent for the Grantor Trustee will forward to the Certificateholders copies of any communications received regarding matters arising that require action by holders of the Underlying Certificates.
ACTION UNDER UNDERLYING DOCUMENTS. In the event that there are any matters arising under the Underlying Operative Documents related to an Underlying Class M Bond which require the vote or direction of holders of the related Underlying Class M Bonds thereunder, the Grantor Trustee, as holder of each Underlying Class M Bond will vote such Underlying Class M Bond in accordance with the written instructions received from holders of the related Certificates evidencing at least 100% of the Fractional Undivided Interest. In the absence of any such instructions, the Grantor Trustee will not vote such Underlying Class M Bond. The Grantor Trustee will forward to each Certificateholder copies of any communications received regarding matters arising that require action by holders of the related Underlying Class M Bonds.
ACTION UNDER UNDERLYING DOCUMENTS. IN THE EVENT THAT THERE ARE ANY MATTERS ARISING UNDER THE UNDERLYING POOLING AND SERVICING AGREEMENT RELATED TO AN UNDERLYING CERTIFICATE WHICH REQUIRE THE VOTE OR DIRECTION OF HOLDERS OF THE UNDERLYING CERTIFICATES THEREUNDER, THE GRANTOR TRUSTEE, AS HOLDER OF THE UNDERLYING CERTIFICATES WILL VOTE SUCH UNDERLYING CERTIFICATE IN ACCORDANCE WITH THE WRITTEN INSTRUCTIONS RECEIVED FROM HOLDERS OF THE RELATED CERTIFICATES EVIDENCING AT LEAST 51% OF THE FRACTIONAL UNDIVIDED INTEREST OF THE RELATED CLASS OF CERTIFICATES. IN THE ABSENCE OF ANY SUCH INSTRUCTIONS, THE GRANTOR TRUSTEE WILL NOT VOTE SUCH UNDERLYING CERTIFICATES. Upon written request, the Grantor Trustee will forward to the Certificateholders copies of any communications received regarding matters arising that require action by holders of the Underlying Certificates.
ACTION UNDER UNDERLYING DOCUMENTS. In the event that there are any matters arising under the Underlying Pooling and Servicing Agreement related to an Underlying Certificate which require the vote or direction of holders of the Underlying Class I-A Certificates thereunder, the Securities Administrator, as holder of the Underlying Class I-A Certificates will vote such Underlying Certificate as follows: if such Underlying Certificate is the Underlying Class I-A Certificate, in accordance with the written instructions received from holders of Certificates evidencing at least 51% of the Fractional Undivided Interest. In the absence of any such instructions, the Securities Administrator will not vote such Underlying Certificate. The Securities Administrator will forward to the Certificateholders copies of any communications received regarding matters arising that require action by holders of the Underlying Class I-A Certificates.
ACTION UNDER UNDERLYING DOCUMENTS. In the event that there are any matters arising under the Underlying Operative Documents related to an Underlying Bond which require the vote or direction of holders of the related Underlying Bonds thereunder, the Grantor Trustee, as holder of each Underlying Bond will vote such Underlying Bond in accordance with the written instructions received from holders of the related Certificates evidencing at least 100% of the Fractional Undivided Interest. In the absence of any such instructions, the Grantor Trustee will not vote such Underlying Bond. The Grantor Trustee will forward to each Certificateholder copies of any communications received regarding matters arising that require action by holders of the related Underlying Bonds.
ACTION UNDER UNDERLYING DOCUMENTS. In the event that there are any matters arising under the Underlying Operative Documents related to an Underlying Note which require the vote or direction of holders of the related Underlying Notes thereunder, the Grantor Trustee, as holder of each Underlying Note (or, with respect to the Class II-A Note, the Insurer, except in the event of an Insurer Default) will vote such Underlying Note in accordance with the written instructions received from holders of the related Certificates evidencing at least 100% of the Fractional Undivided Interest. In the absence of any such instructions, the Grantor Trustee will not vote such Underlying Note. The Grantor Trustee will forward to each Certificateholder copies of any communications received regarding matters arising that require action by holders of the related Underlying Notes.
ACTION UNDER UNDERLYING DOCUMENTS. In the event that there are any matters arising under the Underlying Pooling and Servicing Agreement related to an Underlying Certificate which require the vote or direction of holders of the Underlying Certificates thereunder, the Grantor Trustee, as holder of the Underlying Certificates will vote such Underlying Certificate in accordance with the written instructions received from holders of Certificates evidencing at least 51% of the Fractional Undivided Interest. In the absence of any such instructions, the Grantor Trustee will not vote such Underlying Certificates. The Paying Agent as agent for the Grantor Trustee will forward to the Certificateholders copies of any communications received regarding matters arising that require action by holders of the Underlying Certificates.
ACTION UNDER UNDERLYING DOCUMENTS. In the event that there are any matters arising under the Underlying Pooling and Servicing Agreement related to an Underlying Certificate which require the vote or direction of holders of the Underlying Certificates thereunder, the Grantor Trustee, as holder of the Underlying Certificates will vote such Underlying Certificate as follows: (i) if such Underlying Certificate is the Underlying Class S Certificate, in accordance with the written instructions received from the Swap Counterparty, and (ii) if such Underlying Certificate is the Underlying Class III-A-1 Certificate, in accordance with the written instructions received from holders of Certificates evidencing at least 51% of the Voting Rights. In the absence of any such instructions, the Grantor Trustee will not vote such Underlying Certificate. The Grantor Trustee will forward to the Certificateholders copies of any communications received regarding matters arising that require action by holders of the Underlying Certificates.
ACTION UNDER UNDERLYING DOCUMENTS. 25 Section 9.03 Amendment..........................................................................................25 Section 9.04 Limitation on Rights of Certificateholders.........................................................26 Section 9.05
