Restrictions on the Owner Certificateholder’s Power. The Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Agreement or any of the Operative Agreements or would be contrary to Section 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 5 contracts
Samples: Owner Trust Agreement (FBR Securitization Trust 2005-3), Owner Trust Agreement (First NLC Trust 2005-3 Mortgate-Backed Notes, Series 2005-3), Owner Trust Agreement (FBR Securitization, Inc.)
Restrictions on the Owner Certificateholder’s Power. The Ownership Certificateholder shall not direct the Owner Trustee to take or to refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Agreement or any of the Operative Agreements or would be contrary to Section 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.
Appears in 4 contracts
Samples: Owner Trust Agreement (First NLC Securitization, Inc.), Owner Trust Agreement (FBR Securitization Trust 2005-1), Owner Trust Agreement (FBR Securitization, Inc.)
