Common use of Rights of the Note Insurer to Exercise Rights of Noteholders Clause in Contracts

Rights of the Note Insurer to Exercise Rights of Noteholders. By accepting its Notes, each Noteholder agrees that unless a Note Insurer Default exists, the Note Insurer shall have the right to exercise all rights of the Noteholders under this Indenture, without any further consent of the Noteholders, including, without limitation: (a) the right to require the Servicer to effect foreclosures upon Mortgage Loans upon failure of the Servicer to do so; (b) the right to require the Unaffiliated Seller to repurchase or substitute for Deleted Mortgage Loans pursuant to Section 8.05; (c) the right to direct the actions of the Indenture Trustee during the continuance of an Event of Default; and (d) the right to vote on proposed amendments to this Indenture. In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer. Except as otherwise provided in Section 8.03 hereof and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer. All notices, statements, reports, certificates or opinions required by this Indenture to be sent to any other party hereto or to the Noteholders shall also be sent to the Note Insurer.

Rights of the Note Insurer to Exercise Rights of Noteholders. By accepting its Notes, each Noteholder agrees that unless a Note Insurer Default exists, the Note Insurer shall have the right to exercise all rights of the Noteholders under this Indenture, without any further consent of the Noteholders, including, without limitation: (a) the right to require the Master Servicer to effect foreclosures upon Mortgage Loans Loan upon failure of the Master Servicer to do so; (b) the right to require the Unaffiliated Seller Sponsor to repurchase or substitute for Deleted Mortgage Loans pursuant to Section 8.05; (c) the right to direct the actions of the Indenture Trustee during the continuance of an Event of Default; and (d) the right to vote on proposed amendments to this Indenture. In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer. Except as otherwise provided in Section 8.03 hereof and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer. All notices, statements, reports, certificates or opinions required by this Indenture to be sent to any other party hereto or to the Noteholders shall also be sent to the Note Insurer.

Rights of the Note Insurer to Exercise Rights of Noteholders. By accepting its Notes, each Noteholder agrees that unless a Note Insurer Default exists, the Note Insurer shall have the right to exercise all rights of the Noteholders under this Indenture, Agreement without any further consent of the Noteholders, including, without limitation: (ai) the right to require the Servicer to effect foreclosures upon Mortgage Loans upon failure of the Servicer to do so; (bii) the right to require the Unaffiliated Seller to repurchase or substitute for Deleted Defective Mortgage Loans pursuant to Section 8.05; (ciii) the right to direct the actions of the Indenture Trustee during the continuance of an Event of Default; and (div) the right to vote on proposed amendments to this Indenture. In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer. Except as otherwise provided in Section 8.03 hereof and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer. All notices, statements, reports, certificates or opinions required by this Indenture to be sent to any other party hereto or to the Noteholders shall also be sent to the Note Insurer.

Rights of the Note Insurer to Exercise Rights of Noteholders. By accepting its Notes, each Noteholder agrees that unless a Note Insurer Default exists, the Note Insurer shall have the right to exercise all rights of the Noteholders under this Indenture, without any further consent of the Noteholders, including, without limitation: (a) the right to require the Master Servicer to effect foreclosures upon Mortgage Loans upon failure of the Master Servicer to do so; (b) the right to require the Unaffiliated Seller Sponsor to repurchase or substitute for Deleted Mortgage Loans pursuant to Section 8.05; (c) the right to direct the actions of the Indenture Trustee during the continuance of an Event of Default; and (d) the right to vote on proposed amendments to this Indenture. In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer. Except as otherwise provided in Section 8.03 hereof and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer. All notices, statements, reports, certificates or opinions required by this Indenture to be sent to any other party hereto or to the Noteholders shall also be sent to the Note Insurer.

Rights of the Note Insurer to Exercise Rights of Noteholders. By The Issuer, the Indenture Trustee and, by accepting its Notes, each Noteholder holding Voting Rights in an Outstanding Note agrees that unless a Note Insurer Default exists, the Note Insurer shall have the right to exercise all rights of the Noteholders under this Indenture, without any further consent of the Noteholders, including, without limitation: (a) the right to require the Servicer to effect foreclosures upon Mortgage Loans upon failure of the Servicer to do so; (b) the right to require the Unaffiliated Seller to repurchase or substitute for Deleted Mortgage Loans pursuant to Section 8.05; (c) the right to direct the actions of the Indenture Trustee during the continuance of an Event of Default; and (d) the right to vote on proposed amendments to this Indenture. In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer. Except as otherwise provided in Section 8.03 hereof and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer. All notices, statements, reports, certificates or opinions required by this Indenture to be sent to any other party hereto or to the Noteholders shall also be sent to the Note Insurer.

Rights of the Note Insurer to Exercise Rights of Noteholders. By accepting its Notes, each Noteholder agrees that unless a Note Insurer Default exists, the Note Insurer shall have the right to exercise all rights of the Noteholders under this Indenture, Indenture without any further consent of the Noteholders, including, without limitation: (a) the right to require the Servicer to effect foreclosures upon Mortgage Loans upon failure of the Servicer to do so; (b) the right to require the Unaffiliated Seller RBMG to repurchase or substitute for Deleted Defective Mortgage Loans pursuant to Section 8.058.07; (c) the right to direct the actions of the Indenture Trustee during the continuance of an Event of Default; and (d) the right to vote on proposed amendments to this Indenture. In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer. Except as otherwise provided in Section 8.03 hereof 8.05 and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders (other than as the deemed assignee and subrogee of the Noteholders to the extent the Note Insurer has made Insured Payments for the benefit of the Noteholders) hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer. All notices, statements, reports, certificates or opinions required by this Indenture to be sent to any other party hereto or to the Noteholders shall also be sent to the Note Insurer.

Rights of the Note Insurer to Exercise Rights of Noteholders. By accepting its Notes, each Noteholder agrees that unless a Note Insurer Default exists, the Note Insurer shall have the right to exercise all rights of the Noteholders under this Indenture, without any further consent of the Noteholders, including, without limitation: (a) the right to require the Servicer to effect foreclosures upon Mortgage Loans upon failure of the Servicer to do so; (b) the right to require the Unaffiliated Seller Sponsor to repurchase or substitute for Deleted Mortgage Loans pursuant to Section 8.05; (c) the right to direct the actions of the Indenture Trustee during the continuance of an Event of Default; and (d) the right to vote on proposed amendments to this Indenture. In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer. Except as otherwise provided in Section 8.03 hereof and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer. All notices, statements, reports, certificates or opinions required by this Indenture to be sent to any other party hereto or to the Noteholders shall also be sent to the Note Insurer.

Rights of the Note Insurer to Exercise Rights of Noteholders. By accepting its Notes, each Noteholder agrees that unless a Note Insurer Default exists, the Note Insurer shall have the right to exercise all rights of the Noteholders under this Indenture, Indenture without any further consent of the Noteholders, including, without limitation: (a) the right to require the Servicer to effect foreclosures upon Mortgage Loans upon failure of the Servicer to do so; (b) the right to require the Unaffiliated Seller Meritage to repurchase or substitute for Deleted Defective Mortgage Loans pursuant to Section 8.05the Guarantee; (c) the right to direct the actions of the Indenture Trustee during the continuance of an Event of Default; and (d) the right to vote on proposed amendments to this Indenture. In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer. Except as otherwise provided in Section 8.03 hereof 8.05 and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders (other than as the deemed assignee and subrogee of the Noteholders to the extent the Note Insurer has made Insured Payments for the benefit of the Noteholders) hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer. All notices, statements, reports, certificates or opinions required by this Indenture to be sent to any other party hereto or to the Noteholders shall also be sent to the Note Insurer.

Rights of the Note Insurer to Exercise Rights of Noteholders. By accepting its Notes, each Noteholder agrees that unless a Note Insurer Default exists, the Note Insurer shall have the right to exercise all rights of the Noteholders under this Indenture, without any further consent of the Noteholders, including, without limitation: (a) the right to require the Servicer to effect foreclosures upon Mortgage Loans upon failure of the Servicer to do so; (b) the right to require the Unaffiliated Seller to repurchase or substitute for Deleted Mortgage Loans pursuant to Section 8.05; (c) the right to direct the actions of the Indenture Trustee during the continuance of an Event of Default; and (d) the right to vote on proposed amendments to this Indenture. In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer. Except as otherwise provided in Section 8.03 hereof and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer. All notices, statements, reports, certificates or opinions required by this Indenture to be sent to any other party hereto or to the Noteholders shall also be sent to the Note Insurer.

Rights of the Note Insurer to Exercise Rights of Noteholders. By accepting its Notes, each Noteholder agrees that unless a Note Insurer Default exists, the Note Insurer shall have the right to exercise all rights of the Noteholders under this Indenture, Agreement without any further consent of the Noteholders, including, without limitation: (ai) the right to require the Master Servicer to effect foreclosures upon Mortgage Home Equity Loans upon failure of the Master Servicer to do so; (bii) the right to require the Unaffiliated Seller Sponsor to repurchase or substitute for Deleted Mortgage Defective Home Equity Loans pursuant to Section 8.058.07; (ciii) the right to direct the actions of the Indenture Trustee during the continuance of an Event of Default; and (div) the right to vote on proposed amendments to this Indenture. In addition, each Noteholder agrees that, unless a Note Insurer Default exists, the rights specifically set forth above may be exercised by the Noteholders only with the prior written consent of the Note Insurer. Except as otherwise provided in Section 8.03 hereof 8.04 and notwithstanding any provision in this Indenture to the contrary, so long as a Note Insurer Default has occurred and is continuing, the Note Insurer shall have no rights to exercise any voting rights of the Noteholders hereunder, nor shall the Indenture Trustee be required to obtain the consent of, or act at the direction of, the Note Insurer. All notices, statements, reports, certificates or opinions required by this Indenture to be sent to any other party hereto or to the Noteholders shall also be sent to the Note Insurer.