Removal of Administrator. If an Insurer Default shall have occurred and be continuing, so long as any Notes are issued and outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.
Appears in 20 contracts
Samples: Indenture (WFS Financial Auto Loans Inc), Indenture (WFS Receivables Corp), Indenture (WFS Receivables Corp)
Removal of Administrator. If an Insurer Default shall have occurred and be continuing, For so long as any Notes are issued and outstandingOutstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with respect to such removal and, unless an Insurer Default shall have occurred and be continuing, the Insurer shall have consented to such removal.
Appears in 3 contracts
Samples: Indenture (Pooled Auto Securities Shelf LLC), Indenture (Carmax Auto Funding LLC), Indenture (Pooled Auto Securities Shelf LLC)
Removal of Administrator. If an Insurer Default shall have occurred and be continuing, so long as any Notes are issued and outstandingOutstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal.
Appears in 2 contracts
Samples: Indenture (WFS Receivables Corp), Indenture (WFS Receivables Corp 2)
Removal of Administrator. If an Insurer Default shall have occurred and be continuing, For so long as any Notes are issued and outstanding------------------------ Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with respect to such removal and, unless an Insurer Default shall have occurred and be continuing, the Insurer shall have consented to such removal.
Appears in 1 contract
Removal of Administrator. If an Insurer Default shall have occurred and be continuing, For so long as any Notes are issued and outstanding------------------------ Outstanding, the Issuer shall not remove the Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with respect to such removal and, so long as no Insurer Default shall have occurred and be continuing, the Insurer shall have consented to such removal.
Appears in 1 contract
