Guarantor as Holder. Certificates of a Trust that are beneficially held by the Guarantor will be disregarded and deemed not to be outstanding for purposes of determining whether a Guarantor Event of Default has occurred and is continuing or whether to remove the Master Servicer or the Trustee when a Guarantor Event of Default has occurred and is continuing. In all other matters with respect to a Trust, Certificates of that Trust that are beneficially owned by the Guarantor will be deemed outstanding and may be voted by the Guarantor to the same extent as Certificates held by any other Holder. If, however, the Guarantor beneficially owns 100% of the Certificates of a Trust, the Certificates owned by the Guarantor will be deemed outstanding and may be voted by the Guarantor without restriction.
Guarantor as Holder. Certificates of a Series that are beneficially held by the Guarantor will be disregarded and deemed not to be outstanding for purposes of determining whether a Guarantor Event of Default has occurred and is continuing or whether to remove the Trustee when a Guarantor Event of Default has occurred and is continuing. In all other matters with respect to a Trust, Certificates of that Series that are beneficially owned by the Guarantor will be deemed outstanding and may be voted by the Guarantor to the same extent as Certificates held by any other Holder. If, however, the Guarantor beneficially owns 100% of the Certificates of a Series, the Certificates owned by the Guarantor will be deemed outstanding and may be voted by the Guarantor without restriction.
Guarantor as Holder. Certificates that are beneficially held by the Guarantor will be disregarded and deemed not to be Outstanding Certificates for purposes of determining whether a Guarantor Event of Default has occurred and is continuing or whether to remove the Trustee when a Guarantor Event of Default has occurred and is continuing. In all other matters, Outstanding Certificates that are beneficially owned by the Guarantor may be voted by the Guarantor to the same extent as Certificates held by any other Holder. If, however, the Guarantor beneficially owns 100% of the Outstanding Certificates, the Certificates owned by the Guarantor may be voted by the Guarantor without restriction.
