Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, Section 8.20 and Section 10.1 hereof, provided that: (1) such direction shall not be in conflict with any rule of law or with this Agreement; (2) the Trustee shall have been provided with indemnity satisfactory to it; and (3) the Trustee may take any other action deemed proper by the Trustee, which is not inconsistent with such direction; provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (First Alliance Mortgage Loan Trust 1997 2), Pooling and Servicing Agreement (First Alliance Mortgage Loan Trust 1997-4), Pooling and Servicing Agreement (First Alliance Mortgage Loan Trust 1996-3)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such directiondirection (and which does not require Certificate Insurer consent or direction pursuant to the terms of this Agreement); provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1997-1), Pooling and Servicing Agreement (DLJ Mortgage Acceptance Corp), Pooling and Servicing Agreement (DLJ Commercial Mort Corp Comm Mort Pass THR Cer Ser 1998-Cg1)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Offered Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A or Class B Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R C Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction; provided, however, that neither of the Trustee Sellers nor the Trustee, as the case may be, need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Contisecurities Asset Funding Corp), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1i) such direction shall not be in conflict with any rule of law or with this Agreement;
(2ii) the Trustee shall have been provided with indemnity satisfactory to it; and
(3iii) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction; provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Block Mortgage Finance Asset Backed Certificates Ser 1997-2), Pooling and Servicing Agreement (Block Mortgage Finance Asset Backed Certificates Ser 1998-1), Pooling and Servicing Agreement (Block Mortgage Finance Asset Backed Certificates Ser 1999 1)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests Voting Rights represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided thatPROVIDED THAT:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such directiondirection (and which does not require Certificate Insurer consent or direction pursuant to the terms of this Agreement); providedPROVIDED, howeverHOWEVER, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Centex Credit Corp Home Eq Ln Asset Backed Cert Ser 2000 B), Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2000-A), Pooling and Servicing Agreement (Chec Funding LLC)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, or if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such directiondirection (and which does not require Certificate Insurer consent or direction pursuant to the terms of the Agreement); provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1998-3), Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1997-7)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Offered Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Trust or Class B Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction; provided, however, that neither of the Trustee Sellers nor the Trustee, as the case may be, need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Contisecurities Asset Funding Corp), Pooling and Servicing Agreement (Contimortgage Home Equity Trust 1997-5)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), ) or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R RS Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), ) may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.3 and Section 8.20 and Section 10.1 hereof, ; provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, which is not inconsistent with such direction; provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing; provided, further, that in the event that any directions provided by the Trustee and the Certificate Insurer conflict with each other, the Certificate Insurer's direction shall prevail.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Advanta Mortgage Loan Trust 1996-4), Pooling and Servicing Agreement (Advanta Mortgage Loan Trust 1996-3)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Offered Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A or Class B Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction; provided, however, that neither of the Trustee Sellers nor the Trustee, as the case may be, need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Contimortgage Home Equity Trust 1998-1), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class B-IO Certificates and the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction; provided, however, that neither of the Trustee Sellers nor the Trustee, as the case may be, need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Contimortgage Home Equity Loan Trust 1996-4), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp)
Control by Owners. The Certificate Group I Insurer (so long as a Group I Insurer Default has not occurred and is continuing) or the Owners of a majority of the Percentage Interests represented by the Class A Offered Certificates then Outstanding, with the consent of the Certificate Insurer Control Party (which may not be unreasonably withheld), ) or, if there are no longer any Class A Offered Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer Control Party (which may not be unreasonably withheld), ) may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee Control Party with respect to the Certificates or exercising any trust or power conferred on the Trustee Control Party with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.3 and Section 8.20 and Section 10.1 hereof, ; provided that:
(1A) such direction shall not be in conflict with any rule of law or with this Agreement;
(2B) the Trustee Control Party shall have been provided with indemnity satisfactory to it; and
(3C) the Trustee may take any other action deemed proper by the Trustee, which is not inconsistent with such direction; provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.; provided, further, that in the event that any directions provided by the Trustee and the
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Advanta Mortgage Loan Trust 1998-1)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Offered Certificates then Outstanding, with the consent of the Certificate Insurer Trustee (which may not be unreasonably withheld), ) or, if there are no longer any Class A Offered Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer Trustee (which may not be unreasonably withheld), ) may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.3 and Section 8.20 and Section 10.1 hereof, ; provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, which is not inconsistent with such direction; provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Advanta Mortgage Loan Trust 1997-1)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, Section 8.20 and Section 10.1 hereof, provided thatPROVIDED THAT:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, which is not inconsistent with such direction; providedPROVIDED, howeverHOWEVER, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Alliance Mortgage Loan Trust 1996-4)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class X Certificates and the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1i) such direction shall not be in conflict with any rule of law or with this Agreement;
(2ii) the Trustee shall have been provided with indemnity satisfactory to it; and
(3iii) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction; provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Block Mortgage Finance Inc)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided thatPROVIDED THAT:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such directiondirection (and which does not require Certificate Insurer consent or direction pursuant to the terms of this Agreement); providedPROVIDED, howeverHOWEVER, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chec Asset Receivables Corp)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), ) or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates Originator's Interest then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), ) may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust EstateFund, including, but not limited to, those powers set forth in Section 6.3, 6.3 and Section 8.20 and Section 10.1 hereof, ; provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, which is not inconsistent with such direction; provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.. 72
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Advanta Revolving Home Equity Loan Trust 1996-A)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates and Class B then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A or Class B Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction; provided, however, that neither of the Trustee Sellers nor the Trustee, as the case may be, need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Contisecurities Asset Funding Corp)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class X-IO and Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided thatPROVIDED THAT:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such directiondirection (and which does not require Certificate Insurer consent or direction pursuant to the terms of this Agreement); providedPROVIDED, howeverHOWEVER, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chec Asset Receivables Corp)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1i) such direction shall not be in conflict with any rule of law or with this Agreement;
(2ii) the Trustee shall have been provided with indemnity satisfactory to it; and
(3iii) the Trustee theTrustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction; provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Block Mortgage Finance Inc Asset Backed Cert Series 1998 2)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class X Certificates and the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
: (1i) such direction shall not be in conflict with any rule of law or with this Agreement;
; (2ii) the Trustee shall have been provided with indemnity satisfactory to it; and
and (3iii) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction; provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, Section 8.20 and Section 10.1 hereof, provided that:
(1) such direction shall not be in conflict with any rule of law or with this Agreement;
(2) the Trustee shall have been provided with indemnity satisfactory to it; andand 203968.5d
(3) the Trustee may take any other action deemed proper by the Trustee, which is not inconsistent with such direction; provided, however, that the Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (First Alliance Mortgage Loan Trust 1999-2)
Control by Owners. The Certificate Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates then Outstanding, Outstanding with the consent of the Certificate Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates then Outstanding, by such majority of the Percentage Interests represented by the Class X Certificates and the Class R Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Certificates or exercising any trust or power conferred on the Trustee with respect to the Certificates or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, 6.03 and Section 8.20 and Section 10.1 hereof, provided that:
(1i) such direction shall not be in conflict with any rule of law or with this Agreement;
(2ii) the Trustee shall have been provided with indemnity satisfactory to it; and
(3iii) the Trustee may take any other action deemed proper by the Trustee, as the case may be, which is not inconsistent with such direction; provided, however, that the Trustee Seller or the Trustee, as the case may be, need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Block Mortgage Finance Inc)
Control by Owners. The Certificate Note Insurer or the Owners of a majority of the Percentage Interests represented by the Class A Certificates Notes then Outstanding, Outstanding with the consent of the Certificate Note Insurer (which may not be unreasonably withheld), or, if there are no longer any Class A Certificates Notes then Outstanding, by such majority of the Percentage Interests represented by the Class R Issuer's Certificates then Outstanding, with the consent of the Certificate Insurer (which may not be unreasonably withheld), Outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Indenture Trustee with respect to the Certificates Notes or exercising any trust or power conferred on the Indenture Trustee with respect to the Certificates Notes or the Trust Estate, including, but not limited to, those powers set forth in Section 6.3, Section 8.20 5.03 and Section 10.1 7.20 hereof, provided that:
(1) such direction shall not be in conflict with any rule of law or with this AgreementIndenture;
(2) the Indenture Trustee shall have been provided with indemnity satisfactory to it; and
(3) the Indenture Trustee may take any other action deemed proper by the Indenture Trustee, as the case may be, which is not inconsistent with such directiondirection (and which does not require Note Insurer consent or direction pursuant to the terms of this Indenture); provided, however, that the Indenture Trustee need not take any action which it determines might involve it in liability or may be unjustly prejudicial to the Owners not so directing.
Appears in 1 contract
Samples: Indenture (Imc Securities Inc)