Removal of the Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager with the prior written consent of the NIMS Insurer, if any, by Certificateholders evidencing, in aggregate, not less than 66 2/3% of the aggregate Percentage Interests of all Classes of Certificates, 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 and the NIMS Insurer, if any. Upon receipt of such notice, the Trustee shall provide written notice to the Credit Risk Manager of its removal, which shall be effective upon receipt of such notice by the Credit Risk Manager.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust Series 2007-Oa5 /DE), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa3 /DE), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa3 /DE)
Removal of the Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager with the prior written consent of the NIMS Insurer, if any, by Certificateholders evidencing, in aggregate, not less than 66 2/3% of the aggregate Percentage Interests of all Classes of Certificates, in the exercise with prior consent of its or their sole discretionGroup I Senior Certificate Insurer. The Certificateholders Certificateholders, with the prior written consent of the Group I Senior Certificate Insurer, shall provide written notice of the Credit Risk Manager’s removal to the Trustee and the NIMS Insurer, if anyTrustee. Upon receipt of such noticenotice and the written consent of the Group I Senior Certificate Insurer, the Trustee shall provide written notice to the Credit Risk Manager of its removal, which shall be effective upon receipt of such notice by the Credit Risk Manager.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar3), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar3)
Removal of the Credit Risk Manager. The Credit Risk Manager may be removed as Credit Risk Manager with the prior written consent of the NIMS Insurer, if any, by Certificateholders evidencing, in aggregate, not less than 66 2/3% of the aggregate Percentage Interests of all Classes of Certificates, 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 Trustee, the Securities Administrator and the NIMS Insurer, if any. Upon receipt of such notice, the Trustee Securities Administrator shall provide written notice to the Credit Risk Manager of its removal, which shall be effective upon receipt of such notice by the Credit Risk Manager.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust Series 2007-2)
