Removal of the 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 in the Trust Fund, in the exercise of its or their sole discretion. The Certificateholders shall provide written notice of the Credit Risk Manager's removal to the Trustee. Upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager and the Master Servicer of its removal, which shall be effective upon receipt of such notice by the Credit Risk Manager and the Master Servicer. Notwithstanding the foregoing, the termination of the Credit Risk Manager pursuant to this Section shall not become effective until the appointment of a successor Credit Risk Manager.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (RASC Series 2007-Ks2 Trust), Pooling and Servicing Agreement (RASC Series 2006-Ks4), Pooling and Servicing Agreement (RASC Series 2006-Ks5 Trust)
