Common use of Removal of Credit Risk Manager Clause in Contracts

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% Voting Interests in the Trust, 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.

Appears in 86 contracts

Samples: Pooling and Servicing Agreement (Dsla 2006-Ar2), Trust Agreement (BNC Mortgage Loan Trust 2006-2), Trust Agreement (BNC Mortgage Loan Trust 2007-2)

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Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-66 2/3% Voting Interests in the Trust, 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.

Appears in 9 contracts

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc10), Trust Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc5), Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc9)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by the Depositor at any time, without cause, with the consent of Certificateholders holding not less than a 66-2/3% of the Voting Interests in the Trust, in the exercise of its or their sole discretion, at any time, without causeRights, upon ten (10) days prior written notice. The Certificateholders Depositor shall provide such written notice to the Trustee and upon receipt of such noticenotice and evidence of such Certificateholders’ consent, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (HarborView 2007-4), Pooling and Servicing Agreement (HarborView 2007-6), Pooling and Servicing Agreement (Dsla 2007-Ar1)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% Voting Interests in the TrustDepositor, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) 90 days prior written notice. The Certificateholders Depositor 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.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (AEGIS ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-3), Pooling and Servicing Agreement (Aegis Asset Backed Sec Corp Mort Pas THR Certs Series 2003 3), Pooling and Servicing Agreement (Aegis Asset Backed Sec Corp Mort Pas THR Certs Series 2003 3)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% Voting Interests in the Trust, 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. ARTICLE X REMIC ADMINISTRATION

Appears in 6 contracts

Samples: Trust Agreement (Structured Asset Securities Corp), Trust Agreement (Sasco 2006-S2), Trust Agreement (Amortizing Residential Collateral Trust, Series 2004-1)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders Securityholders holding not less than a 66-2/3% Voting Interests in the TrustInterests, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) days prior written notice. The Certificateholders Securityholders shall provide such written notice to the Indenture Trustee and upon receipt of such notice, the Indenture Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice.

Appears in 5 contracts

Samples: Transfer and Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3), Transfer and Servicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2), Transfer and Servicing Agreement (Sasco Mortgage Loan Trust Series 2003-Gel1)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% Voting Interests in the TrustDepositor, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) 90 days prior written notice. The Certificateholders Depositor shall provide such written notice to the Trustee and the Securities Administrator, and upon receipt of such notice, the Trustee Securities Administrator shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (AEGIS ASSET BACKED SECURITIES TRUST Mortgage Pass-Through Certificates, Series 2004-5), Pooling and Servicing Agreement (Aegis Asset Backed Securities Trust Mortgage Pass-Through Certificates, Series 2005-4), Pooling and Servicing Agreement (Aegis Asset Backed Securities Trust Mortgage Pass-Through Certificates, Series 2005-5)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% 662/3 percent Voting Interests in the Trust, 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. ARTICLE X REMIC ADMINISTRATION

Appears in 4 contracts

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002-Bc8), Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002 Hf2), Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003-Bc2)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% Voting Interests in the Trust, 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 or the Securities Administrator and upon receipt of such notice, the Trustee or the Securities Administrator, as applicable, shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice.

Appears in 3 contracts

Samples: Trust Agreement (Sasco 2006-Bc3), Trust Agreement (Sasco 2006-Bc4), Trust Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc5)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% Voting Interests in the TrustDepositor, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) 90 days prior written notice. The Certificateholders Depositor shall provide such written notice to the Indenture Trustee and the Administrator, and upon receipt of such notice, the Trustee Administrator shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice.

Appears in 3 contracts

Samples: Transfer and Servicing Agreement (Aegis Asset Backed Securities Trust 2005-3), Transfer and Servicing Agreement (Aegis Asset Backed Securities Trust 2004-6), Transfer and Servicing Agreement (Aegis Asset Backed Securities Trust 2005-2)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-66 2/3% Voting Interests in the Trust, 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. ARTICLE X REMIC ADMINISTRATION

Appears in 2 contracts

Samples: Trust Agreement (Encore Credit Corp Mortgage Pass Through Certs Ser 2003-1), Trust Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003 39ex)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3662/3% Voting Interests in the Trust, 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.

Appears in 2 contracts

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass-THR Certs Ser 2004-Gel1), Trust Agreement (First Franklin Mortgage Loan Trust 2003-FFB)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by the Depositor at any time, without cause, with the consent of Certificateholders holding not less than a 66-2/3% 66⅔% of the Voting Interests in the Trust, in the exercise of its or their sole discretion, at any time, without causeRights, upon ten (10) days prior written notice. The Certificateholders Depositor shall provide such written notice to the Trustee and upon receipt of such noticenotice and evidence of such Certificateholders’ consent, the Trustee shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (HarborView 2007-7), Pooling and Servicing Agreement (HarborView 2007-7)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% Voting Interests in the TrustDepositor, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) 90 days prior written notice. The Certificateholders Depositor shall provide such written notice to the Trustee and the Securities Administrator, and upon receipt of such notice, the Trustee Securities Administrator shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice.]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Aegis Asset Backed Securities Corp)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% Voting Interests in the TrustTrust Fund, 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 (with a copy to the Master Servicer) to the Credit Risk Manager of its removal, effective upon receipt of such notice.

Appears in 1 contract

Samples: Trust Agreement (Wells Fargo Home Equity Trust Mort Pass Thru Cert Ser 2004-1)

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Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% 2/3 percent Voting Interests in the Trust, 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. ARTICLE X REMIC ADMINISTRATION

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-66 2/3% Voting Interests Interest in the Trust, 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.

Appears in 1 contract

Samples: Trust Agreement (SASCO Mortgage Loan Trust Series 2005-Gel2)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% 662/3 percent Voting Interests in the Trust, 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.

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% Voting Interests in the TrustDepositor, in the exercise of its or their sole discretion, at any time, without cause, upon ten (10) 90 days prior written notice. The Certificateholders Depositor shall provide such written notice to the Indenture Trustee and the Administrator, and upon receipt of such notice, the Trustee Administrator shall provide written notice to the Credit Risk Manager of its removal, effective upon receipt of such notice.. Section 3A.1

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Aegis Asset Backed Securities Trust 2005-1)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3662/3% Voting Interests in the Trust, 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. ARTICLE X REMIC ADMINISTRATION

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Ff3)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3662/3% Voting Interests Interest in the Trust, 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. ARTICLE X REMIC ADMINISTRATION

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Securities Corporation, 2005-Gel4)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% 66 2/3 percent Voting Interests in the Trust, 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.

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pas THR Certs Series 2003 Bc3)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% 66 2/3 percent Voting Interests in the Trust, 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. ARTICLE X REMIC ADMINISTRATION

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003 Bc1)

Removal of Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders holding not less than a 66-2/3% 66⅔% Voting Interests Interest in the Trust, 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.

Appears in 1 contract

Samples: Trust Agreement (SASCO Mortgage Loan Trust Series 2005-Gel3)

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