Common use of Enforcement of Sale and Servicing Agreement Clause in Contracts

Enforcement of Sale and Servicing Agreement. The Administrator, on behalf of the Underlying Trustee, shall cause to be diligently enforced, and take all reasonable steps, actions and proceedings necessary for the enforcement of, all terms, covenants and conditions of the Sale and Servicing Agreement, and neither the Administrator, the Settlor nor the Underlying Trustee shall permit the release of the obligations of the parties thereunder. The Administrator, on behalf of the Underlying Trust, shall at all times, to the extent permitted by law, cause to be defended, enforced, preserved and protected the rights and privileges of the Underlying Trust and the Underlying Trustee under or with respect to the Sale and Servicing Agreement. Neither the Administrator, the Settlor nor the Underlying Trustee shall enter into, consent or agree to, or permit any amendment or modification of the Sale and Servicing Agreement which will in any manner materially adversely affect the rights or security of any of the Holders of the Notes. Notwithstanding the foregoing, the Settlor and/or the Underlying Trustee may amend the Sale and Servicing Agreement or in any respect pursuant to terms therein.