RIGHTS TO THE CERTIFICATE INSURER TO EXERCISE RIGHTS OF OWNERS. By accepting its Certificate, each Owner of a Class A Certificate agrees that unless a Certificate Insurer Default exists, the Certificate Insurer shall have the right to exercise all rights of the Owners of the Class A Certificates as specified under this Agreement without any further consent of the Owners of the Class A Certificates and that the Owners of Class A Certificates may not exercise such rights except with the written consent of the Certificate Insurer.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Centex Credit Corp Home Eq Ln Asset Backed Cert Ser 2000 B), Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2000-A), Pooling and Servicing Agreement (Chec Asset Receivables Corp)
RIGHTS TO THE CERTIFICATE INSURER TO EXERCISE RIGHTS OF OWNERS. By accepting its Certificate, each Owner of a Class A Certificate agrees that unless a Certificate Insurer Default exists, the Certificate Insurer shall have the right to exercise all rights of the Owners of the Class A Certificates as specified under this Agreement without any further consent of the Owners of the Class A Certificates and that the Owners of Class A Certificates may not exercise such rights except with the written consent of the Certificate Insurer.Certificates. END OF ARTICLE XII 140
Appears in 1 contract
RIGHTS TO THE CERTIFICATE INSURER TO EXERCISE RIGHTS OF OWNERS. By accepting its Certificate, each Owner of a Class A or Class A-IO Certificate agrees that unless a Certificate Insurer Default exists, the Certificate Insurer shall have the right to exercise all rights of the Owners of the Class A and Class A-IO Certificates as specified under this Agreement without any further consent of the Owners of the Class A and Class A-IO Certificates and that the Owners of Class A and Class A-IO Certificates may not exercise such rights except with the written consent of the Certificate Insurer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Sec Corp Home Equity Loan Tr 1999-Lb1)
