Common use of Notice of Material Events Clause in Contracts

Notice of Material Events. The Trust shall promptly inform Financial Security in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust involving potential damages or penalties in an uninsured amount in excess of $100,000 in any one instance or $500,000 in the aggregate; (ii) any change in the location of Trust's principal office or any change in the location of the Trust's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust or any of its assets; (vi) the receipt of notice that (A) the Trust is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's business is to be, or may be, suspended or revoked, or (C) the Trust is to cease and desist any practice, procedure or policy employed by the Trust in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the Trust.

Notice of Material Events. The Trust Seller shall promptly inform Financial Security in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust Seller involving potential damages or penalties in an uninsured amount in excess of $100,000 5,000 in any one instance or $500,000 25,000 in the aggregate; (ii) any change in the location of TrustSeller's principal office or any change in the location of the TrustSeller's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust Seller in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Seller or the Trust; (v) the commencement of any proceedings by or against the Trust Seller under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Seller or any of its assets; (vi) the receipt of notice that (A) the Trust Seller is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the TrustSeller's business is to be, or may be, suspended or revoked, or (C) the Trust Seller is to cease and desist any practice, procedure or policy policy, employed by the Trust Seller in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Seller or the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the Seller, or the Trust.

Notice of Material Events. The Trust Arcadia Financial shall promptly inform Financial Security in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust Arcadia Financial involving potential damages or penalties in an uninsured amount in excess of $100,000 10,000 in any one instance or $500,000 25,000 in the aggregate; (ii) any change in the location of TrustArcadia Financial's principal office or any change in the location of the TrustArcadia Financial's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust Arcadia Financial in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the TrustArcadia Financial; (v) the commencement of any proceedings by or against the Trust Arcadia Financial under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Arcadia Financial or any of its assets; (vi) the receipt of notice that (A) the Trust Arcadia Financial is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the TrustArcadia Financial's business is to be, or may be, suspended or revoked, or (C) the Trust Arcadia Financial is to cease and desist any practice, procedure or policy employed by the Trust Arcadia Financial in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the TrustArcadia Financial; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustArcadia Financial.

Notice of Material Events. The Trust Seller and the Depositor shall be obligated (which obligation shall be satisfied as to each if performed by the Seller or the Depositor) promptly to inform Financial Security the Insurer in writing of the occurrence of any of the followingfollowing to the extent any of the following relate to it: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation against the Trust involving potential damages or penalties in an uninsured amount in excess of $100,000 in any one instance or $500,000 in the aggregate; (ii) any change in the location of Trust's principal office or any change in the location of the Trust's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust proceeding in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any such proceeding or threatened by any proposed or final rule government agency, which, if adversely determined, would have a material adverse effect on the Seller, the Depositor, the Owners or the Insurer or would result in a Material Adverse Change with respect to the TrustSeller or the Depositor; (vii) the occurrence of any Default or Event of Default or of any Material Adverse Change; (iii) the commencement of any proceedings by or against the Trust Seller or the Depositor under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Seller or the Depositor or any of its or their assets;; or (viiv) the receipt of notice that (A) the Trust Seller or the Depositor is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's Seller or the Depositor business is to be, be or may be, be suspended or revoked, or (C) the Trust Seller or the Depositor is to cease and desist any practice, procedure or policy employed by the Trust Seller or the Depositor in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance Seller or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustDepositor.

Notice of Material Events. The Trust Seller shall promptly inform Financial Security in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust Seller involving potential damages or penalties in an uninsured amount in excess of $100,000 5,000 in any one instance or $500,000 25,000 in the aggregate; (ii) any change in the location of TrustSeller's principal office or any change in the location of the TrustSeller's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust Seller in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Seller or the Trust; (v) the commencement of any proceedings by or against the Trust Seller under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Seller or any of its assets; (vi) the receipt of notice that (A) the Trust Seller is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the TrustSeller's business is to be, or may be, suspended or revoked, or (C) the Trust Seller is to cease and desist any practice, procedure or policy employed by the Trust Seller in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Seller or the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the Seller or the Trust.

Notice of Material Events. The Trust Issuer shall be obligated promptly to inform Financial Security the Insurer in writing of the occurrence of any of the followingfollowing to the extent any of the following relate to it and to the extent that it receives actual notice of the occurrence of any of the following events: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation investigation, or rule making or disciplinary proceeding by or against the Trust involving potential damages Issuer that (A) could be required to be disclosed to the Commission or penalties to the Issuer’s owners or (B) could result in an uninsured amount a Material Adverse Change with respect to the Issuer or the promulgation of any proceeding or any proposed or final rule which would result in excess of $100,000 in any one instance or $500,000 in a Material Adverse Change with respect to the aggregateIssuer; (ii) any change in the location of Trust's the Issuer’s or the Owner Trustee’s principal office place of business, jurisdiction of organization, legal name as indicated on the public records of the Issuer’s or the Owner Trustee’s jurisdiction of organization which shows the Issuer’s or the Owner Trustee’s to be organized or any change in the location of the Trust's Issuer’s books and records; (iii) the occurrence of any Default or Event of DefaultDefault or of any Material Adverse Change; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust Issuer under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Issuer or any of its assets;; or (viv) the receipt of notice that (A) the Trust Issuer is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's Issuer’s business is to be, or may be, be suspended or revoked, or (C) the Trust Issuer is to cease and desist any practice, procedure or policy employed by the Trust Issuer in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustIssuer.

Notice of Material Events. The Trust OFL shall promptly inform Financial Security in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust OFL involving potential damages or penalties in an uninsured amount in excess of $100,000 10,000 in any one instance or $500,000 25,000 in the aggregate; (ii) any change in the location of TrustOFL's principal office or any change in the location of the TrustOFL's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust OFL in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the TrustOFL; (v) the commencement of any proceedings by or against the Trust OFL under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust OFL or any of its assets; (vi) the receipt of notice that (A) the Trust OFL is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the TrustOFL's business is to be, or may be, suspended or revoked, or (C) the Trust OFL is to cease and desist any practice, procedure or policy employed by the Trust OFL in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the TrustOFL; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustOFL.

Notice of Material Events. The Trust Arcadia Financial shall promptly inform Financial Security in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust Arcadia Financial involving potential damages or penalties in an uninsured amount in excess of $100,000 10,000 in any one instance or $500,000 25,000 in the aggregate; (ii) any change in the location of TrustArcadia Financial's principal office or any change in the location of the TrustArcadia Financial's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust Arcadia Financial in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the TrustArcadia Financial; (v) the commencement of any proceedings by or against the Trust Arcadia Financial under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Arcadia Financial or any of its assets; (vi) the receipt of notice that (Aa) the Trust Arcadia Financial is being placed under regulatory supervision, (Bb) any license, permit, charter, registration or approval necessary for the conduct of the TrustArcadia Financial's business is to be, or may be, suspended or revoked, or (Cc) the Trust Arcadia Financial is to cease and desist any practice, procedure or policy employed by the Trust Arcadia Financial in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the TrustArcadia Financial; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustArcadia Financial.

Notice of Material Events. The Trust Seller shall be obligated promptly to inform Financial Security the Insurer in writing of the occurrence of any of the followingfollowing to the extent any of the following relate to it: (i) the submission of any claim or the initiation or written threat of any legal process, litigation or administrative or judicial investigation investigation, or rule making or disciplinary proceeding by or against the Trust involving potential damages Seller that (A) could be required to be disclosed to the Commission or penalties to the Seller's shareholders or (B) could result in an uninsured amount a Material Adverse Change with respect to the Seller, or the promulgation of any proceeding or any proposed or final rule which would result in excess of $100,000 in any one instance or $500,000 in a Material Adverse Change with respect to the aggregateSeller; (ii) any change in the location of Trustthe Seller's principal office offices or any change in the location of the TrustSeller's books and records; (iii) the occurrence of any Default or Event of DefaultDefault or of any Material Adverse Change; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust Seller under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Seller or any of its assets;; or (viv) the receipt of notice that (A) the Trust Seller is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the TrustSeller's business is to be, or may be, be suspended or revoked, or (C) the Trust Seller is to cease and desist any practice, procedure or policy employed by the Trust Seller in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustSeller.

Notice of Material Events. The Trust Seller and the Depositor shall be obligated (which obligation shall be satisfied as to each if performed by the Seller or the Depositor) promptly to inform Financial Security the Insurer in writing of the occurrence of any of the followingfollowing to the extent any of the following relate to it: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation against the Trust involving potential damages or penalties in an uninsured amount in excess of $100,000 in any one instance or $500,000 in the aggregate; (ii) any change in the location of Trust's principal office or any change in the location of the Trust's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust proceeding in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any such proceeding or threatened by any proposed or final rule government agency, which, if adversely determined, would have a material adverse effect on the Seller , the Depositor, the Owners or the Insurer or would result in a Material Adverse Change with respect to the TrustSeller or the Depositor; (vii) the occurrence of any Default or Event of Default or of any Material Adverse Change; (iii) the commencement of any proceedings by or against the Trust Seller or the Depositor under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Seller or the Depositor or any of its or their assets;; or (viiv) the receipt of notice that (A) the Trust Seller or the Depositor is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's Seller or the Depositor business is to be, be or may be, be suspended or revoked, or (C) the Trust Seller or the Depositor is to cease and desist any practice, procedure or policy employed by the Trust Seller or the Depositor in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance Seller or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustDepositor.

Notice of Material Events. The Trust Sponsor shall be obligated promptly to inform Financial Security the Note Insurer in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation investigation, or rule making or disciplinary proceeding by or against the Trust involving potential damages Sponsor that (A) would be required to be disclosed to the Commission or penalties the Sponsor's shareholders or (B) would likely result in an uninsured amount a Material Adverse Change with respect to the Sponsor, or, to the best of the Sponsor's knowledge, the promulgation of any proceeding or any proposed or final rule which would likely result in excess of $100,000 in any one instance or $500,000 in a Material Adverse Change with respect to the aggregateSponsor; (ii) any change in the location of Trust's the principal office or any change in the location of the Trust's books and recordsSponsor; (iii) the occurrence of any Default or Event Material Adverse Change in respect of Defaultthe Sponsor; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust Sponsor under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Sponsor or any of its assets;; or (viv) the receipt of notice that (A) the Trust is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the TrustSponsor's business is are to be, or may be, be suspended or revoked, revoked or (CB) the Trust Sponsor is to cease and desist any practice, procedure or policy employed by the Trust Sponsor in the conduct of its business, and such cessation may reasonably result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustSponsor.

Notice of Material Events. The Trust Seller shall promptly inform Financial Security in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust Seller involving potential damages or penalties in an uninsured amount in excess of $100,000 5,000 in any one instance or $500,000 25,000 in the aggregate; (ii) any change in the location of TrustSeller's principal office or any change in the location of the TrustSeller's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust Seller in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Seller or the Trust; (v) the commencement of any proceedings by or against the Trust Seller under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Seller or any of its assets; (vi) the receipt of notice that (Aa) the Trust Seller is being placed under regulatory supervision, (Bb) any license, permit, charter, registration or approval necessary for the conduct of the TrustSeller's business is to be, or may be, suspended or revoked, or (Cc) the Trust Seller is to cease and desist any practice, procedure or policy policy, employed by the Trust Seller in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Seller or the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the Seller, or the Trust.

Notice of Material Events. The Trust Issuing Entity shall be obligated promptly to inform Financial Security the Insurer in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation investigation, or rule making or disciplinary proceeding by or against the Trust involving potential damages Issuing Entity that (A) could be required to be disclosed to the Commission or penalties the Issuing Entity’s noteholders or (B) would likely result in an uninsured amount a Material Adverse Change with respect to the Issuing Entity, or the promulgation of any proceeding or any proposed or final rule which would likely result in excess of $100,000 in any one instance or $500,000 in a Material Adverse Change with respect to the aggregateIssuing Entity; (ii) any change in the location of Trust's the principal office or any change in the location of the Trust's books and recordsIssuing Entity; (iii) the occurrence of any Default or Event of DefaultDefault any Material Adverse Change in respect of the Issuing Entity; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust Issuing Entity under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Issuing Entity or any of its their assets;; or (viv) the receipt of notice that (A) the Trust is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's Issuing Entity’s business is to be, or may be, be suspended or revoked, revoked or (CB) the Trust Issuing Entity is to cease and desist any practice, procedure or policy employed by the Trust Issuing Entity in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustIssuing Entity.

Notice of Material Events. The Trust Each Seller and the Depositor shall be obligated (which obligation shall be satisfied as to each if performed by either Seller or the Depositor) promptly to inform Financial Security the Insurer in writing of the occurrence of any of the followingfollowing to the extent any of the following relate to it: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation against the Trust involving potential damages or penalties in an uninsured amount in excess of $100,000 in any one instance or $500,000 in the aggregate; (ii) any change in the location of Trust's principal office or any change in the location of the Trust's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust proceeding in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any such proceeding or threatened by any proposed or final rule government agency, which, if adversely determined, would have a material adverse effect on each Seller, the Depositor, the Owners or the Insurer or would result in a Material Adverse Change with respect to either Seller or the TrustDepositor; (vii) the occurrence of any Default or Event of Default or of any Material Adverse Change; (iii) the commencement of any proceedings by or against each Seller or the Trust Depositor under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for each of the Trust Sellers or the Depositor or any of its or their assets;; or (viiv) the receipt of notice that (A) either Seller or the Trust Depositor is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of either Seller or the Trust's Depositor business is to be, be or may be, be suspended or revoked, or (C) either Seller or the Trust Depositor is to cease and desist any practice, procedure or policy employed by either Seller or the Trust Depositor in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to either Seller or the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustDepositor.

Notice of Material Events. The Trust Seller and the Depositor shall be obligated (which obligation shall be satisfied as to each if performed by the Seller or the Depositor) promptly to inform Financial Security the Insurer in writing of the occurrence of any of the followingfollowing to the extent any of the following relate to it: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation against the Trust involving potential damages or penalties in an uninsured amount in excess of $100,000 in any one instance or $500,000 in the aggregate; (ii) any change in the location of Trust's principal office or any change in the location of the Trust's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust proceeding in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any such proceeding or threatened by any proposed or final rule government agency, which, if adversely determined, would have a material adverse effect on the Depositor, the Owners or the Insurer or would result in a Material Adverse Change with respect to the TrustSeller or the Depositor; (vii) the occurrence of any Default or Event of Default or of any Material Adverse Change; (iii) the commencement of any proceedings by or against the Trust Seller or the Depositor under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Seller or the Depositor or any of its or their assets;; or (viiv) the receipt of notice that (A) the Trust Seller or the Depositor is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's Seller, or the Depositor business is to be, be or may be, be suspended or revoked, or (C) the Trust Seller or the Depositor is to cease and desist any practice, procedure or policy employed by the Trust Servicer, the Seller or the Depositor in the conduct of its business, business and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance Seller or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustDepositor.

Notice of Material Events. The Trust Depositor shall promptly inform Financial Security FSA in writing of the occurrence of any of the following:following (and such obligations of the Depositor shall be satisfied if performed by the Company): (ia) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation against (A) with respect to a material portion of the Trust involving potential damages Mortgage Loans or penalties (B) in an uninsured amount in excess which a request has been made for certification as a class action (or equivalent relief) that would involve a material portion of $100,000 in any one instance or $500,000 in the aggregateMortgage Loans; (iib) any change in the location of Trust's the Depositor’s principal office or any change in the location of the Trust's Depositor’s books and records; (iiic) the occurrence of any Trigger Event, Default or Event of Default; (ivd) the commencement or threat to its knowledge, the threat, of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust Depositor in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the TrustDepositor; (ve) the commencement of any proceedings by or against the Trust Depositor under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Depositor or any of its their assets; (vif) the receipt of notice that (A) the Trust Depositor is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's Depositor’s business is to be, or may be, suspended or revoked, or (C) the Trust Depositor is to cease and desist any practice, procedure or policy employed by the Trust Depositor in the conduct of its business, and such cessation may reasonably be expected to result in a Material Adverse Change with respect to the TrustDepositor; or (viig) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, is reasonably likely to result in a Material Adverse Change in respect of the TrustDepositor or the Mortgage Loans.

Notice of Material Events. The Trust Depositor shall be obligated promptly to inform Financial Security the Insurer in writing of the occurrence of any of the followingfollowing to the extent any of the following relate to it: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation in any federal, state or local court or before any arbitration board or rule making or disciplinary proceeding by or against the Trust involving potential damages Depositor that that (A) would be required to be disclosed to the Commission or penalties to the Depositor’s shareholders or (B) could result in an uninsured amount a Material Adverse Change with respect to the Depositor, or the promulgation of any proceeding or any proposed or final rule which would likely result in excess a Material Adverse Change with respect to the Depositor or any of $100,000 in any one instance or $500,000 in the aggregateits subsidiaries; (ii) any change in the location of Trust's the Depositor’s principal office or the principal office of any of its subsidiaries, the Depositor’s jurisdiction of organization, legal name as indicated on the public records of the Depositor’s jurisdiction of organization which shows the Depositor to be organized, or any change in the location of the Trust's Depositor’s books and records; (iii) the occurrence of any Default or Event of DefaultDefault or of any Material Adverse Change in respect of the Depositor; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust Depositor under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Depositor or any of its assets;; or (viv) the receipt of notice that (A) the Trust Depositor is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's Depositor’s business is to be, or may be, suspended or revoked, or (C) the Trust Depositor is to cease and desist any practice, procedure or policy employed by the Trust Depositor in the conduct of its business, and such suspension, revocation or cessation may reasonably be expected to result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustDepositor.

Notice of Material Events. The Trust Servicer shall be obligated promptly to inform Financial Security the Insurer in writing of the occurrence of any of the followingfollowing to the extent any of the following relate to it: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust involving potential damages investigation, or penalties in an uninsured amount in excess of $100,000 in any one instance or $500,000 in the aggregate; (ii) any change in the location of Trust's principal office or any change in the location of the Trust's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted proceeding by or against the Trust Servicer, that (A) would be required to be disclosed to the Commission or to the Servicer's shareholders or (B) could reasonably be expected to result in any federal, state or local court or before any governmental body or agency, or before any arbitration boarda Material Adverse Change with respect to the Servicer, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, which would result in a Material Adverse Change with respect to the TrustServicer; (ii) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation in any federal, state or local court or before any arbitration board, or any such proceeding threatened by any government agency, which, if adversely determined, would have a material adverse effect on the Servicer, the Owners or the Insurer; (iii) any change in the location of the Servicer's principal office or any change in the location of the Servicer's books and records; (iv) the occurrence of any Default or Event of Default or of any Material Adverse Change; (v) the commencement of any proceedings by or against the Trust Servicer under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Servicer or any of its or their assets;; or (vi) the receipt of notice that (A) the Trust Servicer is being placed under regulatory supervision, as a result of a material event, (B) any license, permit, charter, registration or approval necessary for the conduct of the TrustServicer's business is to be, or may be, be suspended or revoked, or (C) the Trust Servicer is to cease and desist any practice, procedure or policy employed by the Trust Servicer in the conduct of its business, and such cessation may is reasonably likely to result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustServicer.

Notice of Material Events. The Trust shall Each Provider Entity shall, in addition to any notices, certificates or information provided pursuant to this Agreement, promptly inform Financial Security XLCA in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust it, involving potential damages or penalties which, if adversely determined, could reasonably be expected to result in an uninsured amount in excess of $100,000 in any one instance a Material Adverse Change with respect to it or $500,000 in the aggregateTransaction; (ii) any change in its name, the location of Trust's its principal office or jurisdiction of organization or any change in the location of the Trust's any of its books and records; (iii) the occurrence of any Default Default, Wind Down Event or Event of DefaultDefault (without waiting for any Person to take any action); (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings proceedings, of which it shall have knowledge, instituted by or against any of the Trust Provider Entities, as applicable, in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would could reasonably be expected to result in a Material Adverse Change with respect to the Trustrelated Provider Entity, as applicable, or the Transaction; (v) the commencement of any proceedings proceedings, of which it shall have knowledge, by or against any of the Trust Provider Entities as applicable, under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for any of the Trust Provider Entities, as applicable, or any of its assets;; or (vi) the receipt of notice that (A) any of the Trust Provider Entities, as applicable, is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of any of the Trust's business Provider Entities' business, is to be, or may be, suspended or revoked, or (C) any of the Trust Provider Entities, as applicable, is to cease and desist any practice, procedure or policy known to any of them employed by any of the Trust Provider Entities, as applicable, in the conduct of its business, and such cessation may could reasonably be expected to result in a Material Adverse Change with respect to any of the Trust; or (vii) any other eventProvider Entities, circumstance or condition that has resultedas applicable, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustTransaction.

Notice of Material Events. The Trust shall promptly inform Financial Security FSA in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation (A) against the Trust involving potential damages Trust, (B) with respect to a material portion of the Mortgage Loans or penalties (C) in an uninsured amount in excess which a request has been made for certification as a class action (or equivalent relief) that would involve a material portion of $100,000 in any one instance or $500,000 in the aggregateMortgage Loans; (ii) any change in the location of the Trust's ’s principal office or any change in the location of the Trust's ’s books and records; (iii) the occurrence of any Trigger Event, Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust or any of its assets; (vi) the receipt of notice that (A) the Trust is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's Trust ‘s business is to be, or may be, suspended or revoked, or (C) the Trust is to cease and desist any practice, procedure or policy employed by the Trust in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustTrust or the Mortgage Loans.

Notice of Material Events. The Trust It shall be obligated promptly to inform Financial Security the Certificate Insurer in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation investigation, or rule making or disciplinary proceeding by or against it that (A) would be required to be disclosed to its shareholders or to the Trust involving potential damages United States Securities and Exchange Commission if any Class of Certificates were publicly registered or penalties (B) could result in an uninsured amount a Material Adverse Change, or the initiation of any proceeding or the promulgation of any proposed or final rule which would likely result in excess of $100,000 in any one instance or $500,000 in the aggregatea Material Adverse Change; (ii) any change in the location of Trust's its principal office or any change in the location of the Trust's its books and records, other than the date of the relocation by the Sellers and the Servicer to 000 Xxxx Xxxx Xxxxxx, Xxxxxxxxxxxx, XX 00000 in July 2003; provided, that, if such relocation does not occur in July 2003, it shall so inform the Certificate Insurer; (iii) the occurrence of any Default or Event of DefaultDefault or any Material Adverse Change; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust it under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust it or any of its assets, or any actual, proposed or anticipated assignment for the benefit of its creditors; (viv) the receipt of notice that (A) the Trust it is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval materially necessary for the conduct of the Trust's its business is to be, or may be, suspended or revoked, revoked or (C) the Trust it is to cease and desist any practice, procedure or policy employed by the Trust it in the conduct of its business, and such suspension, revocation or cessation may result in a Material Adverse Change with respect to the TrustChange; or (viivi) the imposition of any tax, assessment or other event, circumstance or condition that has resulted, or has a material possibility government charge upon the Trust Fund other than any such charge payable out of resulting, in a Material Adverse Change in respect of collections on the TrustMortgage Loans pursuant to the P&S Agreement.

Notice of Material Events. The Trust shall promptly inform Financial Security in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust involving potential damages or penalties in an uninsured amount in excess of $100,000 in any one instance or $500,000 in the aggregate; (ii) any change in the location of Trust's principal office or any change in the location of the Trust's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust or any of its assets; (vi) the receipt of notice that (Aa) the Trust is being placed under regulatory supervision, (Bb) any license, permit, charter, registration or approval necessary for the conduct of the Trust's business is to be, or may be, suspended or revoked, or (Cc) the Trust is to cease and desist any practice, procedure or policy employed by the Trust in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the Trust.

Notice of Material Events. The Trust shall promptly inform Financial Security in writing of the occurrence of any of the following: (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation against the Trust involving potential damages or penalties in an uninsured amount in excess of $100,000 in any one instance or $500,000 in the aggregate; (ii) any change in the location of Trust's principal office or any change in the location of the Trust's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, ,would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust or any of its assets; (vi) the receipt of notice that (A) the Trust is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's business is to be, or may be, suspended or revoked, or (C) the Trust is to cease and desist any practice, procedure or policy employed by the Trust in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the Trust.

Notice of Material Events. The Trust shall be obligated promptly to inform Financial Security the Insurer in writing of the occurrence of any of the followingfollowing to the extent any of the following relate to it and to the extent that it receives actual notice of the occurrence of any of the following events: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation against the Trust involving potential damages investigation, or penalties in an uninsured amount in excess of $100,000 in any one instance or $500,000 in the aggregate; (ii) any change in the location of Trust's principal office or any change in the location of the Trust's books and records; (iii) the occurrence of any Default or Event of Default; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted proceeding by or against the Trust that (A) could be required to be disclosed to the Commission or to the Trust’s owners or (B) could result in any federal, state or local court or before any governmental body or agency, or before any arbitration board, a Material Adverse Change with respect to the Trust or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, which would result in a Material Adverse Change with respect to the Trust; (vii) any change in the location of the Trust’s principal office, jurisdiction of organization, legal name as indicated on the public records of the Trust’s jurisdiction of organization which shows the Trust’s to be organized, or any change in the location of the Trust’s books and records; (iii) the occurrence of any Default or Insurance Agreement Event of Default or of any Material Adverse Change; (iv) the commencement of any proceedings by or against the Trust under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust or any of its assets;; or (viv) the receipt of notice that (A) the Trust is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the Trust's ’s business is to be, or may be, is reasonably likely to be suspended or revoked, or (C) the Trust is to cease and desist any practice, procedure or policy employed by the Trust in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the Trust.

Notice of Material Events. The Trust Master Servicer shall be obligated promptly to inform Financial Security the Insurer in writing of the occurrence of any of the followingfollowing to the extent any of the following relate to it: (i) the submission of any claim or the initiation or threat of any legal process, litigation or administrative or judicial investigation investigation, or rule making or disciplinary proceeding by or against the Trust involving potential damages Master Servicer that (A) could be required to be disclosed to the Commission or penalties to the Master Servicer's shareholders or (B) could result in an uninsured amount a Material Adverse Change with respect to the Master Servicer, or the promulgation of any proceeding or any proposed or final rule which would result in excess of $100,000 in any one instance or $500,000 in a Material Adverse Change with respect to the aggregateMaster Servicer; (ii) any change in the location of Trustthe Master Servicer's principal office offices or any change in the location of the TrustMaster Servicer's books and records; (iii) the occurrence of any Default or Event of DefaultDefault or of any Material Adverse Change; (iv) the commencement or threat of any rule making or disciplinary proceedings or any proceedings instituted by or against the Trust in any federal, state or local court or before any governmental body or agency, or before any arbitration board, or the promulgation of any proceeding or any proposed or final rule which, if adversely determined, would result in a Material Adverse Change with respect to the Trust; (v) the commencement of any proceedings by or against the Trust Master Servicer under any applicable bankruptcy, reorganization, liquidation, rehabilitation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for the Trust Master Servicer or any of its or their assets;; or (viv) the receipt of notice that (A) the Trust Master Servicer is being placed under regulatory supervision, (B) any license, permit, charter, registration or approval necessary for the conduct of the TrustMaster Servicer's business is to be, or may be, be suspended or revoked, or (C) the Trust Master Servicer is to cease and desist any practice, procedure or policy employed by the Trust Master Servicer in the conduct of its business, and such cessation may result in a Material Adverse Change with respect to the Trust; or (vii) any other event, circumstance or condition that has resulted, or has a material possibility of resulting, in a Material Adverse Change in respect of the TrustMaster Servicer.