Common use of Prior Notice by Trustee to Insurer Clause in Contracts

Prior Notice by Trustee to Insurer. Subject to Section 10.01 of the Base Indenture, except for any period during which an Insurer Default is continuing, the Trustee agrees that so long as no Amortization Event shall have occurred and be continuing with respect to any Series of Notes, other than the Series 2004-1 Notes, it shall not exercise any rights or remedies available to it as a result of the occurrence of an Amortization Event with respect to the Series 2004-1 Notes (except those set forth in clauses (h) and (i) of Article III of this Series Supplement) until after the Trustee has given prior written notice thereof to the Insurer and obtained the direction of the Insurer. The Trustee agrees to notify the Insurer promptly following any exercise of rights or remedies available to it as a result of the occurrence of an Amortization Event with respect to the Series 2004-1 Notes.

Prior Notice by Trustee to Insurer. Subject to Section 10.01 10.1 of the Base Indenture, except for any period during which an Insurer Default is continuing, the Trustee agrees that so long as no Amortization Event shall have occurred and be continuing with respect to any Series of Notes, other than the Series 20042005-1 2 Notes, it shall not exercise any rights or remedies available to it as a result of the occurrence of an Amortization Event with respect to the Series 20042005-1 2 Notes (except those set forth in clauses (hj) and (ik) of Article III of this Series Supplement) until after the Trustee has given prior written notice thereof to the Insurer and obtained the direction of the Insurer, so long as the Insurer, through operation of Section 6.6 of this Series Supplement, constitutes the Required Noteholders of the Series 2005-2 Notes. The Trustee agrees to notify the Insurer promptly following any exercise of rights or remedies available to it as 157 a result of the occurrence of an Amortization Event with respect to the Series 20042005-1 2 Notes.

Prior Notice by Trustee to Insurer. Subject to Section 10.01 10.1 of the Base Indenture, except for any period during which an Insurer Default is continuing, the Trustee agrees that so long as no Amortization Event shall have occurred and be continuing with respect to any Series of Notes, other than the Series 20042005-1 3 Notes, it shall not exercise any rights or remedies available to it as a result of the occurrence of an Amortization Event with respect to the Series 20042005-1 3 Notes (except those set forth in clauses (hj) and (ik) of Article III IV of this Series Supplement) until after the Trustee has given prior written notice thereof to the Insurer and obtained the direction of the Insurer, so long as the Insurer, through operation of Section 7.7 of this Series Supplement, constitutes the Required Noteholders of the Series 2005-3 Notes. The Trustee agrees to notify the Insurer promptly following any exercise of rights or remedies available to it as a result of the occurrence of an Amortization Event with respect to the Series 20042005-1 3 Notes.

Prior Notice by Trustee to Insurer. Subject to Section 10.01 10.1 of the Base Indenture, except for any period during which an Insurer Default is continuing, the Trustee agrees that so long as no Amortization Event shall have occurred and be continuing with respect to any Series of Notes, other than the Series 20042005-1 4 Notes, it shall not exercise any rights or remedies available to it as a result of the occurrence of an Amortization Event with respect to the Series 20042005-1 4 Notes (except those set forth in clauses (hj) and (ik) of Article III IV of this Series Supplement) until after the Trustee has given prior written notice thereof to the Insurer and obtained the direction of the Insurer, so long as the Insurer, through operation of Section 7.7 of this Series Supplement, constitutes the Required Noteholders of the Series 2005-4 Notes. The Trustee agrees to notify the Insurer promptly following any exercise of rights or remedies available to it as a result of the occurrence of an Amortization Event with respect to the Series 20042005-1 4 Notes.