Common use of Amendments and Waivers Under Swap Agreement and Swap Guarantee Clause in Contracts

Amendments and Waivers Under Swap Agreement and Swap Guarantee. Without the need for consent of or notice to any Holder, the Trustee shall enter into any amendment of the Swap Agreement or the Swap Guarantee requested by the Swap Counterparty or the Swap Guarantor, respectively, to cure any ambiguity or manifest error in, or to correct or supplement any provision of, the Swap Agreement or the Swap Guarantee, so long as (i) the Trustee determines that such amendment will not adversely affect the interests of the Holders and (ii) the Trustee has received an Opinion of Counsel, at the expense of the Swap Counterparty or the Swap Guarantor, to the effect that such amendment will not adversely affect the interests of the Holders and will not alter the classification of the Trust for Federal income tax purposes. The Trustee shall not agree to any other request from the Swap Counterparty or the Swap Guarantor for approval of any consent, waiver or other modification of the Swap Agreement or the Swap Guarantee without the consent of the Holders of the Required Percentage of Voting Rights and compliance with clause (ii) of the preceding sentence.

Appears in 3 contracts

Samples: Trust Agreement (Comcertz Abs Corp), Trust Agreement (Comcertz Abs Corp), Trust Agreement (Comcertz Abs Corp)

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Amendments and Waivers Under Swap Agreement and Swap Guarantee. Without the need for consent of or notice to any HolderCertificateholder, the Trustee shall enter into any amendment of the Swap Agreement or the any Swap Guarantee requested by the Swap Counterparty or the any Swap Guarantor, respectively, to cure any ambiguity or manifest error in, or to correct or supplement any provision of, the Swap Agreement or the any Swap Guarantee, so long as provided (i) the Trustee determines that such amendment will would not adversely affect the interests of the Holders Certificateholders and (ii) the Trustee has received an Opinion of Counsel, at the expense of the Swap Counterparty or the any Swap Guarantor, as applicable, to the effect that such amendment will would not adversely affect the interests of the Holders Certificateholders and will would not alter the classification of the Trust for U.S. Federal income tax purposes. The Trustee shall not agree to any other request from the Swap Counterparty or the any Swap Guarantor for approval of any consent, waiver or other modification of the Swap Agreement or the any Swap Guarantee Guarantee, respectively, without the unanimous consent of the Holders of the Required Percentage of Voting Rights Certificateholders and compliance with clause (ii) of the immediately preceding sentencesentence and unless the Rating Agency Condition is satisfied.

Appears in 2 contracts

Samples: Trust Agreement (Credit & Asset Repackaging Vehicle Corp), Trust Agreement (Credit & Asset Repackaging Vehicle Corp)

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Amendments and Waivers Under Swap Agreement and Swap Guarantee. Without the need for consent of or notice to any HolderCertificateholder, the Trustee shall enter into any amendment of the Swap Agreement or the any Swap Guarantee requested by the Swap Counterparty or the any Swap Guarantor, respectively, to cure any ambiguity or manifest error in, or to correct or supplement any provision of, the Swap Agreement or the any Swap Guarantee, so long as provided (i) the Trustee determines that such amendment will would not adversely affect the interests of the Holders Certificateholders and (ii) the Trustee has received an Opinion of Counsel, at the expense of the Swap Counterparty or the any Swap Guarantor, as applicable, to the effect that such amendment will would not adversely affect the interests of the Holders Certificateholders and will would not alter the classification of the Trust for U.S. Federal income tax purposes. The Trustee shall not agree to any other request from the Swap Counterparty or the any Swap Guarantor for approval of any consent, waiver or other modification of the Swap Agreement or the any Swap Guarantee Guarantee, respectively, without the unanimous consent of the Holders of the Required Percentage of Voting Rights Certificateholders and compliance with clause (ii) of the immediately preceding sentence.

Appears in 1 contract

Samples: Trust Agreement (Credit & Asset Repackaging Vehicle Corp)

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