Removal and Resignation of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than 66-2/3% of the Voting Rights of Certificates, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) days prior written notice. The Certificateholders shall provide such written notice to the Trustee and upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice. In addition, on August 4, 2011 and each anniversary date thereafter, upon thirty (30) days prior written notice, the Credit Risk Manager will have the option to resign as Credit Risk Manager and the Depositor shall have the option to terminate the Credit Risk Manager without cause.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2006-Wmc1), Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2006-Wmc1)
Removal and Resignation of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than 66-2/3% of the Voting Rights of Certificates, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) days prior written notice. The Certificateholders shall provide such written notice to the Trustee and upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice. In addition, on August 4January 30, 2011 2012 and each anniversary date thereafter, upon thirty (30) days prior written notice, the Credit Risk Manager will have the option to resign as Credit Risk Manager and the Depositor shall have the option to terminate the Credit Risk Manager without cause.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Hsi Asset Securitization Corp Trust 2007-Opt1), Pooling and Servicing Agreement (HSI Asset Loan Obligation Trust 2007-Wf1)
Removal and Resignation of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than 66-2/3% of the Voting Rights of Certificates, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) days prior written notice. The Certificateholders shall provide such written notice to the Trustee and upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice. In addition, on August 4November 29, 2011 2010 and each anniversary date thereafter, upon thirty (30) days prior written notice, the Credit Risk Manager will have the option to resign as Credit Risk Manager and the Depositor shall have the option to terminate the Credit Risk Manager without cause.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HASCO Trust 2005-Opt1)
Removal and Resignation of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than 66-2/3% of the Voting Rights of Certificates, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) days prior written notice. The Certificateholders shall provide such written notice to the Trustee and upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice. In addition, on August May 4, 2011 2012 and each anniversary date thereafter, upon thirty (30) days prior written notice, the Credit Risk Manager will have the option to resign as Credit Risk Manager and the Depositor shall have the option to terminate the Credit Risk Manager without cause.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HASCO Trust 2007-He2)
Removal and Resignation of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than 66-2/3% of the Voting Rights of Certificates, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) days prior written notice. The Certificateholders shall provide such written notice to the Trustee and upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice. In addition, on August 4[[November 3, 2011 2011]] and each anniversary date thereafter, upon thirty (30) days prior written notice, the Credit Risk Manager will have the option to resign as Credit Risk Manager and the Depositor shall have the option to terminate the Credit Risk Manager without cause.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He1)
Removal and Resignation of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than 66-2/3% of the Voting Rights of Certificates, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) days prior written notice. The Certificateholders shall provide such written notice to the Trustee and upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice. In addition, on August 4December 5, 2011 and each anniversary date thereafter, upon thirty (30) days prior written notice, the Credit Risk Manager will have the option to resign as Credit Risk Manager and the Depositor shall have the option to terminate the Credit Risk Manager without cause.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He2)
Removal and Resignation of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than 66-2/3% of the Voting Rights of Certificates, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) days prior written notice. The Certificateholders shall provide such written notice to the Trustee and upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice. In addition, on August 4June 5, 2011 2012 and each anniversary date thereafter, upon thirty (30) days prior written notice, the Credit Risk Manager will have the option to resign as Credit Risk Manager and the Depositor shall have the option to terminate the Credit Risk Manager without cause.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2007-Nc1)
Removal and Resignation of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than 66-2/3% of the Voting Rights of Certificates, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) days prior written notice. The Certificateholders shall provide such written notice to the Trustee and upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice. In addition, on August 4March 8, 2011 2012 and each anniversary date thereafter, upon thirty (30) days prior written notice, the Credit Risk Manager will have the option to resign as Credit Risk Manager and the Depositor shall have the option to terminate the Credit Risk Manager without cause.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2007-He1)
Removal and Resignation of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than 66-2/3% of the Voting Rights of Certificates, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) days prior written notice. The Certificateholders shall provide such written notice to the Trustee and upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice. In addition, on August 4July 3, 2011 2012 and each anniversary date thereafter, upon thirty (30) days prior written notice, the Credit Risk Manager will have the option to resign as Credit Risk Manager and the Depositor shall have the option to terminate the Credit Risk Manager without cause.. ARTICLE X
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2007-Wf1)