Failure to Deliver Collateral. Notwithstanding Sections 5(a)(i) and 5(a)(iii) or anything in the CSA to the contrary, any failure by Party A to comply with or perform any obligation to be complied with or performed by Party A under the CSA shall not be an Event of Default unless (A) the Second Trigger Collateralization Level applies, and (B) such failure is not remedied on or before the third (3rd) Local Business Day after notice of such failure is given to Party A.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Nc3), Assignment and Recognition Agreement (MASTR Asset Backed Securities Trust 2006-He5), MASTR Adjustable Rate Mortgages Trust 2007-1