Rights of the Certificate Insurer to Exercise Rights of Certificateholders. By accepting its Certificate, each Certificateholder agrees that unless a Certificate Insurer Default exists, the Certificate Insurer shall be deemed to be the Certificateholders for all purposes (other than with respect to payment on the Certificates) and shall have the right to exercise all rights of the Certificateholders under this Agreement and under each Class of Certificates without any further consent of the Certificateholders, including, without limitation:
Appears in 3 contracts
Samples: Custodial Agreement (Delta Funding Corp /De/), Custodial Agreement (Delta Funding Corp /De/), Custodial Agreement (Delta Funding Corp /De/)
Rights of the Certificate Insurer to Exercise Rights of Certificateholders. By accepting its Offered Certificate, each Certificateholder agrees that unless a Certificate Insurer Default exists, the Certificate Insurer shall be deemed to be the Certificateholders for all purposes (other than with respect to payment on the Offered Certificates) and shall have the right to exercise all rights of the Certificateholders under this Agreement and under each Class of Offered Certificates without any further consent of the Certificateholders, including, without limitation:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp)
