Common use of Restricted Pool Condition Clause in Contracts

Restricted Pool Condition. In the event that the Closed-End Collateral Agent becomes aware that a failure of a Restricted Pool Condition with respect to the Warehouse Facility Pool or any Reference Pool has occurred under the Master Exchange Agreement, the Closed-End Collateral Agent shall deliver notice to each of the Warehouse Facility Secured Parties (in the case of a Restricted Pool Condition with respect to the Warehouse Facility Pool) or the applicable Exchange Noteholder (in the case of a Restricted Pool Condition with respect to its related Reference Pool). Upon the direction of the Required Secured Parties (or, if the Required Warehouse Lenders constitute the Required Secured Parties, the Deal Agent on their behalf), the Closed-End Collateral Agent shall deliver to the Qualified Intermediary a notice in the form set forth as Exhibit B (a “Restricted Pool Condition Failure Notice”), with copies to the Closed-End Servicer and the Deal Agent.

Restricted Pool Condition. In the event that the Closed-End Collateral Agent becomes aware that a failure of a Restricted Pool Condition with respect to the Warehouse Facility Pool or any Reference Pool has occurred under the Master Exchange Agreement, the Closed-End Collateral Agent shall deliver notice to each of the Warehouse Facility Secured Parties (in the case of a Restricted Pool Condition with respect to the Warehouse Facility Pool) or the applicable Exchange Noteholder (in the case of a Restricted Pool Condition with respect to its related Reference Pool). Upon the direction of the Required Secured Parties (or, if the Required Warehouse Lenders constitute the Required Secured Parties, the Deal Agent on their behalf), the Closed-End Collateral Agent shall deliver to the Qualified Intermediary a notice in the form set forth as Exhibit B (a “Restricted Pool Condition Failure Notice”), with copies to the Closed-End Servicer and the Deal Agent.. 58 Collateral Agency Agreement

Restricted Pool Condition. In the event that the Closed-End Collateral Agent becomes aware that a failure of a Restricted Pool Condition with respect to the Warehouse Facility Pool or any Reference Pool has occurred under the Master Exchange Agreement, the Closed-End Collateral Agent shall deliver notice to each of the Warehouse Facility Secured Parties (in the case of a Restricted Pool Condition with respect to the Warehouse Facility Pool) or the applicable Exchange Noteholder (in the case of a Restricted Pool Condition with respect to its related Reference Pool). Upon the direction of the Required Secured Parties (or, if the Required Warehouse Lenders constitute the Required Secured Parties, the Deal Agent on their behalf), the Closed-End Collateral Agent shall deliver to the Qualified Intermediary a notice in the form set forth as Exhibit B (a “Restricted Pool Condition Failure Notice”“), with copies to the Closed-End Servicer and the Deal Agent.