Prior Notice to Owners with Respect to Certain Matters; Covenants. (a) With respect to the following matters, the Owner Trustee shall not take action, and the Owners 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 Owners and the Securities Insurer in writing of the proposed action and (i) the Securities Insurer shall have consented thereto and (ii) the Owners shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Owners have withheld consent or the Owners have provided alternative direction (any direction by the Owners shall require the prior consent of the Securities Insurer):
Appears in 3 contracts
Samples: Owner Trust Agreement (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-2), Owner Trust Agreement (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-1), Empire Funding Home Loan Owner Trust 1998 3
Prior Notice to Owners with Respect to Certain Matters; Covenants. (a) With respect to the following matters, the Owner Trustee shall not take action, and the Owners 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 Owners [and the Securities Insurer Insurer] in writing of the proposed action and [(i) the Securities Insurer shall have consented thereto and and] (ii) the Owners shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Owners have withheld consent or the Owners have provided alternative direction (any direction by the Owners shall require the prior consent of the Securities Insurer):
Appears in 3 contracts
Samples: Owner Trust Agreement (Bcap LLC), Owner Trust Agreement (Bcap LLC), Owner Trust Agreement (Painewebber Mortgage Acceptance Corporation Iv)
Prior Notice to Owners with Respect to Certain Matters; Covenants. (a) Section 4.2 With respect to the following matters, the Owner Trustee shall not take action, and the Owners 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 Owners [and the Securities Insurer Insurer] in writing of the proposed action and [(i) the Securities Insurer shall have consented thereto and and] (ii) the Owners shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Owners have withheld consent or the Owners have provided alternative direction [(any direction by the Owners shall require the prior consent of the Securities Insurer):)]:
Appears in 2 contracts
Samples: Owner Trust Agreement (Hsi Asset Securitization Corp), Trust Agreement (Hsi Asset Securitization Corp)
Prior Notice to Owners with Respect to Certain Matters; Covenants. (a) With respect to the following matters, the Owner Trustee shall not take action, and the Owners shall not direct the Owner Trustee to take any action, unless at least 30 [30] days before the taking of such action, the Owner Trustee shall have notified the Owners [and the Securities Insurer Insurer] in writing of the proposed action and [(i) the Securities Insurer shall have consented thereto and (ii) )] the Owners shall not have notified the Owner Trustee in writing prior to the 30th [30th] day after such notice is given that such Owners have withheld consent or the Owners have provided alternative direction [(any direction by the Owners shall require the prior consent of the Securities Insurer):)]:
Appears in 1 contract
Samples: Owner Trust Agreement (Etrade Mortgage Backed Securities Corp)
Prior Notice to Owners with Respect to Certain Matters; Covenants. (a) Section 4.2 With respect to the following matters, the Owner Trustee shall not take action, and the Owners 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 Owners [and the Securities Insurer Insurer] in writing of the proposed action and [(i) the Securities Insurer shall have consented thereto and and] (ii) the Owners shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Owners have withheld consent or the Owners have provided alternative direction (any direction by the Owners shall require the prior consent of the Securities Insurer):
Appears in 1 contract
Samples: Owner Trust Agreement (Securitized Asset Backed Receivables LLC)
