Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement. (b) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's production or receipt thereof. (c) Unless a Certificate Insurer Default exists, the Trustee and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld. (d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein. (e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Residential Asset Securities Corp), Pooling and Servicing Agreement (Residential Asset Securities Corp), Pooling and Servicing Agreement (Residential Asset Securities Corp)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) On each Distribution Date the Trustee shall make available to the Certificate Insurer a copy of the reports made available to the Certificateholders and the Depositor on such Distribution Date.
(c) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s production or receipt thereof.
(cd) Unless a Certificate an Insurer Default exists, the Trustee Trustee, the Depositor and the Depositor Master Servicer shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(de) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall will have the right to exercise all rights of the Holders of the Class A AM Certificates under this Agreement (including voting rights) without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided hereinHolders.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Impac Secured Assets Trust 2007-3), Pooling and Servicing Agreement (Impac Secured Assets Trust 2007-3), Pooling and Servicing Agreement (Impac Secured Assets Trust 2007-3)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee or the Depositor, as applicable, shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s or the Depositor’s production or receipt thereof, but only to the extent that such item is required to be delivered to the Certificate Insurer hereunder.
(c) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Insured Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L4), Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3), Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee or the Depositor, as applicable, shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s or the Depositor’s production or receipt thereof, but only to the extent that such item is required to be delivered to the Certificate Insurer hereunder.
(c) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Master Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Insured Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L3), Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L2), Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L1)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's production or receipt thereof.
(c) Unless a an Certificate Insurer Default exists, the Trustee and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Residential Asset Securities Corp), Pooling and Servicing Agreement (Residential Asset Securities Corp)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's production or receipt thereof.
(c) Unless a Certificate Insurer Default exists, the Trustee and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A A-II Certificates and Class A-III Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Asset Securities Corp)
Rights of the Certificate Insurer. (a) The Each of the Certificate Insurer and the Pool Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee or the Depositor, as applicable, shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s or the Depositor’s production or receipt thereof, but only to the extent that such item is required to be delivered to the Certificate Insurer hereunder.
(c) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Seller, the Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Policy, except that the Certificate Guaranty Insurance Insurer shall be entitled to its right to receive notices as set forth in Section 10.05 in the event that there exists a failure by the Certificate Insurer to make a required payment under the Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Loan Asset-Backed Trust, Series Inds 2006-3)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) On each Distribution Date the Trustee shall make available to the Certificate Insurer a copy of the reports made available to the Certificateholders and the Depositor on such Distribution Date.
(c) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s production or receipt thereof.
(cd) Unless a Certificate an Insurer Default exists, the Trustee Trustee, the Depositor and the Depositor Master Servicer shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(de) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall will have the right to exercise all rights of the Holders of the Class 1-AM Certificates and the Class 2-A Certificates under this Agreement (including voting rights) without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided hereinHolders.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 1 contract
Rights of the Certificate Insurer. (a) [The Certificate Insurer is an express third-party beneficiary of this Agreement.]
(b) [The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s production or receipt thereof.]
(c) [Unless a Certificate Insurer Default exists, the Trustee and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.]
(d) [So long as there does not exist a failure by the Certificate Insurer to make a required payment under the either Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) ] [The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Phoenix Residential Securities, LLC)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's production or receipt thereof.
(c) Unless a Certificate Insurer Default exists, the Trustee and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Asset Securities Corp)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) On each Distribution Date the Trustee shall make available to the Certificate Insurer a copy of the reports furnished to the Certificateholders on such Distribution Date.
(c) The Trustee or the Depositor, as applicable, shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's or the Depositor's production or receipt thereof, but only to the extent that such item is required to be delivered to the Certificate Insurer hereunder.
(cd) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Master Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(de) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Insured Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(ef) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2003-5)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) On each Distribution Date the Trustee shall make available to the Certificate Insurer a copy of the reports made available to the Certificateholders and the Depositor on such Distribution Date.
(c) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s production or receipt thereof.
(cd) Unless a Certificate an Insurer Default exists, the Trustee and the Depositor Company shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(de) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A A-1W Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(ef) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 1 contract
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's production or receipt thereof.
(c) Unless a Certificate Insurer Default exists, the Trustee and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the either Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the either Certificate Guaranty Insurance Policy.. 140
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RASC Series 2004-Ks7 Trust)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) On each Distribution Date the Trustee shall make available to the Certificate Insurer a copy of the reports furnished to the Certificateholders on such Distribution Date.
(c) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's production or receipt thereof, but only to the extent that such item is not required to be delivered to the Certificate Insurer hereunder.
(cd) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(de) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(ef) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.. 134
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Assets Sec Corp First Franklin Mort Ln Tr 2002 Ffa)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this AgreementAgreement unless an Certificate Insurer Default exists.
(b) On each Distribution Date the Trustee shall forward to the Certificate Insurer a copy of the reports furnished to the Class A Certificateholders and the Seller on such Distribution Date.
(c) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Officer's Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's production or receipt thereof.
(cd) Unless a an Certificate Insurer Default exists, the Trustee and the Depositor Seller shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which if such consent shall is not be unreasonably withheld.
(de) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.] 105
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee or the Depositor, as applicable, shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s or the Depositor’s production or receipt thereof, but only to the extent that such item is required to be delivered to the Certificate Insurer hereunder.
(c) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Seller, the Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Offered Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Policy, except that the Certificate Guaranty Insurance Insurer shall be entitled to its right to receive notices as set forth in Section 10.05 in the event that there exists a failure by the Certificate Insurer to make a required payment under the Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Loan Asset-Backed Trust, Series INDS 2007-2)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) On each Distribution Date the Trustee shall make available to the Certificate Insurer a copy of the reports made available to the Certificateholders and the Depositor on such Distribution Date.
(c) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s production or receipt thereof.
(cd) Unless a Certificate an Insurer Default exists, the Trustee and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(de) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A A-1W Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(ef) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Impac Secured Assets Corp)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) On each Distribution Date the Trust Administrator shall make available to the Certificate Insurer a copy of the reports furnished to the Certificateholders on such Distribution Date.
(c) The Trustee Trustee, the Trust Administrator or the Depositor, as applicable, shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's, the Trust Administrator's or the Depositor's production or receipt thereof, but only to the extent that such item is required to be delivered to the Certificate Insurer hereunder.
(cd) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Trust Administrator, the Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(de) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(ef) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mort Ln Tr Asst Back Ps THR Certs Ser 2003-He3)
Rights of the Certificate Insurer. (a) The Each of the Certificate Insurer and the Pool Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee or the Depositor, as applicable, shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s or the Depositor’s production or receipt thereof, but only to the extent that such item is required to be delivered to the Certificate Insurer hereunder.
(c) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Seller, the Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (IndyMac Home Equity Loan Asset-Backed Trust, Series INDS 2006-2b)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee or the Depositor, as applicable, shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' ’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's ’s or the Depositor’s production or receipt thereof, but only to the extent that such item is required to be delivered to the Certificate Insurer hereunder.
(c) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Insured Certificates under this Agreement including but not limited to the exercise of all voting rights in respect of the Holders of the Insured Certificates without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L2)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) On each Distribution Date the Trustee shall forward to the Certificate Insurer a copy of the reports furnished to the Certificateholders on such Distribution Date.
(c) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's production or receipt thereof.
(cd) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Master Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(de) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(ef) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder (including its rights to grant or withhold consent) so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.. 141
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp New South Home Equity Trust 2001-1)
Rights of the Certificate Insurer. (a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
(b) The Trustee or the Depositor, as applicable, shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers' Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee's or the Depositor's production or receipt thereof, but only to the extent that such item is required to be delivered to the Certificate Insurer hereunder.
(c) Unless a Certificate Insurer Default exists, the Trustee Trustee, the Servicer and the Depositor shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
(d) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer shall have the right to exercise all rights of the Holders of the Class A Insured Certificates under this Agreement without any consent of such Holders, and such Holders may exercise such rights only with the prior written consent of the Certificate Insurer, except as provided herein.
(e) The Certificate Insurer shall not be entitled to exercise any of its rights hereunder so long as there exists a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2006-L1)