Prior Notice to Holders with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action, and the Certificateholders shall not direct the Owner Trustee to take any action, unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholders and the Note Insurer in writing of the proposed action and neither the Certificateholders nor the Note Insurer shall have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Certificateholders and/or the Note Insurer have withheld consent or the Certificateholders have provided alternative direction (any direction by the Certificateholders shall require the prior consent of the Note Insurer):
Appears in 3 contracts
Samples: Deposit Trust Agreement (Financial Asset Securities Corp), Deposit Trust Agreement (Residential Asset Funding Corp), Deposit Trust Agreement (Residential Asset Funding Corp)
Prior Notice to Holders with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action, and the Certificateholders shall not direct the Owner Trustee to take any action, unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholders and the Note Bond Insurer in writing of the proposed action and neither the Certificateholders nor the Note Bond Insurer shall have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Certificateholders and/or the Note Bond Insurer have withheld consent or the Certificateholders have provided alternative direction (any direction by the Certificateholders shall require the prior consent of the Note Bond Insurer):
Appears in 3 contracts
Samples: Deposit Trust Agreement (Residential Resources Inc), Deposit Trust Agreement (Fund America Investors Corp Ii), Deposit Trust Agreement (Union Planters Mortgage Finance Corp)