Directions. Any direction required to be given by the Noteholders shall be given hereunder by the Insurer, unless an Insurer Default shall have occurred and be continuing or the Policy shall have expired in accordance with its terms, in which case the Indenture Trustee, acting at the direction of the Majority Noteholders, shall be entitled to give such direction.
Appears in 4 contracts
Samples: Trust and Servicing Agreement (Bay View Securitization Corp), Trust and Servicing Agreement (Bay View Transaction Corp), Trust and Servicing Agreement (Bay View Deposit CORP)
Directions. Any direction required to be given by the Noteholders shall be given hereunder by the Insurer, unless an the Insurer Default shall have occurred and be continuing or is no longer the Policy shall have expired in accordance with its termsControlling Party, in which case the Indenture Trustee, acting at the direction of the Majority Noteholders, Noteholders shall be entitled to give such direction.
Appears in 4 contracts
Samples: Indenture (Bay View Deposit CORP), Indenture (Bay View Transaction Corp), Bay View Deposit CORP
Directions. Any direction required to be given by the Noteholders shall be given hereunder by the Note Insurer, unless an Insurer Default shall have occurred and be continuing or the Policy shall have expired in accordance with its termscontinuing, in which case the Indenture Trustee, acting at the direction of the Majority Noteholders, Noteholders shall be entitled to give such direction.
Appears in 1 contract
Samples: Sale and Servicing Agreement (United Fidelity Finance LLC)
Directions. Any direction required to be given by the Noteholders shall be given hereunder by the Insurer, unless an the Insurer Default shall have occurred and ceases to be continuing the Controlling Party or the Policy shall have expired in accordance with its terms, in which case the Indenture Trustee, acting at the direction of the Majority Noteholders, shall be entitled to give such direction.
Appears in 1 contract
Samples: Trust and Servicing Agreement (Bay View Deposit CORP)
Directions. Any direction required to be given by the Noteholders shall be given hereunder by the Insurer, unless an Insurer Default shall have occurred and be continuing or if the Policy shall have expired in accordance with its termsInsurance Agreement has terminated, in which case the Indenture Trustee, acting at the direction of the Majority Noteholders, Noteholders shall be entitled to give such direction.
Appears in 1 contract
Samples: Bay View Securitization Corp
