Common use of Grant of Noteholder Rights to Securities Insurer Clause in Contracts

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes by the Securities Insurer pursuant to the Guaranty Policy, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes for the purpose of exercising the rights of the Holders of the Notes hereunder, including the voting rights of such Holders, but excluding those rights requiring the consent of all such Holders under Section 9.02 and any rights of such Holders to payments under Section 8.02 hereof; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Noteholders hereunder will terminate at such time as the Note Principal Balance of the Notes has been reduced to zero and the Securities Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities Insurer.

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes Insured Securities by the Securities Insurer pursuant to the Guaranty Policy, and by acceptance of an Insured Security, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes Insured Securities for the purpose of exercising the rights of the Holders holders of the Notes hereunderInsured Securities under this Agreement, without the consent of any such Noteholders, including the voting rights of such Holdersholders, but excluding those rights requiring the consent of all such Holders holders under Section 9.02 12.02(b), and any rights of such Holders holders to payments under Section 8.02 hereof5.01 (d) and (e) hereof and under section 8.02(c) of the Indenture; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 12.18 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Majority Noteholders hereunder will terminate at such time as the Note Principal Balance of the Notes has Insured Securities have been reduced to zero and the Securities Insurer has been reimbursed for paid the Securities Insurer Reimbursement Amount in full and all Insured Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, Agreement and the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities InsurerPolicy.

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes Insured Securities by the Securities Insurer pursuant to the Guaranty Policy, and by acceptance of an Insured Security, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes Insured Securities for the purpose of exercising the rights of the Holders holders of the Notes hereunderInsured Securities under this Agreement, without the consent of any such Noteholders, including the voting rights of such Holdersholders, but excluding those rights requiring the consent of all such Holders holders under Section 9.02 12.02(b), and any rights of such Holders holders to payments under Section 8.02 hereof5.01 (d) and (e) hereof and under Section 8.02(c) of the Indenture; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 12.17 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Majority Noteholders hereunder will terminate at such time as the Note Principal Balance of the Notes has Insured Securities have been reduced to zero and the Securities Insurer has been reimbursed for paid the Securities Insurer Reimbursement Amount in full and all Insured Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, Agreement and the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities InsurerPolicy.]

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes by the Securities Insurer pursuant to the Guaranty Policy, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes for the purpose of exercising the rights of the Holders of the Notes hereunder, including the voting rights of such Holders, but excluding those rights requiring the consent of all such Holders under Section 9.02 9.2 and any rights of such Holders to payments distributions under Section 8.02 8.2 hereof; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 11.21 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Noteholders hereunder will terminate at such time as the Note Class Principal Balance Balances of the all Classes of Notes has have been reduced to zero and the Securities Insurer has been reimbursed for all Insured Guaranteed Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, Agreement and the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities InsurerPolicy.

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes by the Securities Insurer pursuant to the Guaranty Policy, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes for the purpose of exercising the rights of the Holders of the Notes hereunder, including the voting rights of such Holders, but excluding those rights requiring the consent of all such Holders under Section 9.02 and any rights of such Holders to payments under Section 8.02 hereof; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Noteholders hereunder will terminate at such time as the Note Principal Balance of the Notes has been reduced to zero [and the Securities Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities Insurer].

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes by the Securities Insurer pursuant to the Guaranty Policy, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of [100% %] of the outstanding Notes for the purpose of exercising the rights of the Holders of the Notes hereunderNoteshereunder, including the voting rights of such Holders, but excluding those rights requiring the requiringthe consent of all such Holders under Section 9.02 9.2 and any rights of such Holders to payments distributions under Section 8.02 8.2 hereof; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 11.21 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Noteholders hereunder will terminate at such time as the Note Principal Balance Balances of the Notes has have been reduced to zero and the Securities Insurer has been reimbursed for all Insured Guaranteed Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, Agreement and the Securities Insurer has no hasno further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities InsurerPolicy.

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes by the Securities Insurer pursuant to the Guaranty Policy, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes for the purpose of exercising the rights of the Holders holders of the Notes hereunder, including the voting rights of such Holdersholders, but excluding those rights requiring the consent of all such Holders holders under Section 9.02 9.2 and any rights of such Holders holders to payments distributions under Section 8.02 8.2 hereof; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 11.21 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Noteholders hereunder will terminate at such time as the Note Class Principal Balance Balances of the all Classes of Notes has have been reduced to zero and the Securities Insurer has been reimbursed for all Insured Guaranteed Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, Agreement and the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities Insurer.Policy. -66- 72

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes Insured Securities by the Securities Insurer pursuant to the Guaranty Policy, and by acceptance of an Insured Security, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes Insured Securities for the purpose of exercising the rights of the Holders holders of the Notes hereunderInsured Securities under this Agreement, without the consent of any such Noteholders, including the voting rights of such Holdersholders, but excluding those rights requiring the consent of all such Holders holders under Section 9.02 12.02(b), and any rights of such Holders holders to payments under Section 8.02 hereof5.01(d) hereof and under Section 8.02(c) of the Indenture; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 12.18 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Majority Noteholders hereunder will terminate at such time as the Note Principal Balance of the Notes has Insured Securities have been reduced to zero and the Securities Insurer has been reimbursed for paid the Securities Insurer Reimbursement Amount in full and all Insured Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, Agreement and the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities InsurerPolicy.

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes by the Securities Insurer pursuant to the Guaranty Policy, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes for the purpose of exercising the rights of the Holders of the Notes hereunder, including the voting rights of such Holders, but excluding those rights requiring the consent of all such Holders under Section 9.02 and any rights of ------------ such Holders to payments under Section 8.02 hereof; provided that the preceding ------------ grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 hereof. The rights of the Securities Insurer to direct certain ------------- actions and consent to certain actions of the Noteholders hereunder will terminate at such time as the Note Principal Balance of the each Class of Notes has been reduced to zero and the Securities Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities Insurer.

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes Insured Securities by the Securities Insurer pursuant to the Guaranty Policy, and by acceptance of an Insured Security, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes Insured Securities for the purpose of exercising the rights of the Holders holders of the Notes hereunderInsured Securities under this Agreement, without the consent of any such Noteholders, including the voting rights of such Holdersholders, but excluding those rights requiring the consent of all such Holders holders under Section 9.02 12.02(b), and any rights of such Holders holders to payments under Section 8.02 hereof5.01 (d) and (e) hereof and under section 8.02(c) of the Indenture; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 12.18 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Majority Noteholders hereunder will terminate at such time as the Note Principal Balance of the Notes has Insured Securities have been reduced to zero and the Securities Insurer has been reimbursed for paid the Securities Insurer Reimbursement Amount in full and all Insured Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, Agreement and the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities InsurerPolicy.]

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes by the Securities Insurer pursuant to the Guaranty Policy, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes for the purpose of exercising the rights of the Holders of the Notes hereunder, including the voting rights of such Holders, but excluding those rights requiring the consent of all such Holders under Section 9.02 and any rights of such Holders to payments under Section 8.02 hereof; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Noteholders hereunder will terminate at such time as the Note Principal Balance of the each Class of Notes has been reduced to zero and the Securities Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities Insurer.

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes by the Securities Insurer pursuant to the Guaranty Policy, the Noteholders hereby grant to the Securities Insurer the right to act as the holder of 100% of the outstanding Notes for the purpose of exercising the rights of the Holders of the Notes hereunder, including the voting rights of such Holders, but excluding those rights requiring the consent of all such Holders under Section 9.02 and any rights of such Holders to payments under Section 8.02 hereof; provided that the preceding grant of rights to the Securities Insurer by the Noteholders shall be subject to Section 11.20 hereof. The rights of the Securities Insurer to direct certain actions and consent to certain actions of the Noteholders hereunder will terminate at such time as the Note Principal Balance of the Notes has been reduced to zero and the Securities Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, Agreement and the Securities Insurer has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities InsurerPolicy.

Grant of Noteholder Rights to Securities Insurer. In consideration for the guarantee of the Notes by the [Securities Insurer Insurer] pursuant to the Guaranty Policy, the Noteholders hereby grant to the [Securities Insurer Insurer] the right to act as the holder of 100% of the outstanding Notes for the purpose of exercising the rights of the Holders holders of the Notes hereunder, including the voting rights of such Holdersholders, but excluding those rights requiring the consent of all such Holders holders under Section 9.02 9.2 and any rights of such Holders holders to payments distributions under Section 8.02 8.2 hereof; provided that the preceding grant of rights to the [Securities Insurer Insurer] by the Noteholders shall be subject to Section 11.20 11.21 hereof. The rights of the [Securities Insurer Insurer] to direct certain actions and consent to certain actions of the Noteholders hereunder will terminate at such time as the Note Class Principal Balance Balances of the all Classes of Notes has have been reduced to zero [and the Securities Insurer Insurer] has been reimbursed for all Insured Guaranteed Payments and any other amounts owed under the Guaranty Policy and the Insurance Agreement, Agreement [and the Securities Insurer Insurer] has no further obligation under the Guaranty Policy and the Guaranty Policy has been surrendered to the Securities InsurerPolicy.