Common use of Administration of the Trust Fund and the Pooled Certificates Clause in Contracts

Administration of the Trust Fund and the Pooled Certificates. If at any time the Trustee, as a holder of a Pooled Certificate, is requested in such capacity, whether by a Certificateholder, a holder of a certificate of an Underlying Series or a party to the related Underlying Agreement or any other Person, to take any action or to give any consent, approval or waiver, including, without limitation, in connection with an amendment of any Underlying Agreement, the Trustee shall promptly notify all of the Certificateholders and the Depositor of such request and of its planned course of action with respect thereto and shall, in its capacity as a holder of Pooled Certificates, take such action in connection with the exercise and/or enforcement of any rights and/or remedies available to it in such capacity with respect to such request, as the Majority Certificateholders shall direct in writing. The Trustee shall promptly furnish to the Depositor and, upon the written request of a Certificateholder, such Certificateholder, all notices, statements, reports or other information that it receives as holder of the Pooled Certificates.

Appears in 3 contracts

Samples: Pooling Agreement (Bear Stearns Mortgage Securities Inc), Pooling Agreement (Bear Stearns Mortgage Securities Inc), Pooling Agreement (Bear Stearns Mortgage Securities Inc)

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Administration of the Trust Fund and the Pooled Certificates. If at any time the Trustee, as a holder of a the Pooled CertificateCertificates, is requested in such capacity, whether by a Certificateholder, a holder of a certificate of an the Underlying Series or a party to the related Underlying Agreement or any other Person, to take any action or to give any consent, approval or waiver, including, without limitation, in connection with an amendment of any the Underlying Agreement, the Trustee shall promptly notify all of the Certificateholders Holders of Certificates and the Depositor of such request and of its planned course of action with respect thereto and shall, in its capacity as a holder of such Pooled Certificates, take such action in connection with the exercise and/or enforcement of any rights and/or remedies available to it in such capacity with respect to such request, as the Majority Certificateholders of the Certificates shall direct in writing. The Trustee shall promptly furnish to the Depositor and, upon the written request of a Certificateholder, such Certificateholder, all notices, statements, reports or other information that it receives as holder of the Pooled Certificates.

Appears in 2 contracts

Samples: Pooling Agreement (Structured Asset Mortgage Investments II Trust 2005-F2), Pooling Agreement (Structured Asset Mortgage Investments II Trust 2005-F3)

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Administration of the Trust Fund and the Pooled Certificates. If at any time the Trustee, as a holder of a Pooled Certificate, is requested in writing in such capacity, whether by a Certificateholder, a holder of a certificate of an Underlying Series or a party to the related Underlying Agreement or any other Person, to take any action or to give any consent, approval or waiver, including, without limitation, in connection with an amendment of any Underlying Agreement, the Trustee shall promptly notify all of the Certificateholders and the Depositor Seller of such request and of its planned course of action with respect thereto and shall, in its capacity as a holder of Pooled Certificates, take such action in connection with the exercise and/or enforcement of any rights and/or remedies available to it in such capacity with respect to such request, as the Majority Certificateholders shall direct in writing. The Trustee shall promptly furnish to the Depositor Seller and, upon the written request of a Certificateholder, such Certificateholder, all notices, statements, reports or other information that it receives as holder of the Pooled Certificates.

Appears in 1 contract

Samples: Pooling Agreement (Fund America Investors Corp Ii)

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