Common use of Suits for Enforcements Clause in Contracts

Suits for Enforcements. Except as otherwise provided in Section 9.05, in case an Event of Default or other default by the Master Servicer or the Company hereunder, any Certificate Insurer Default or other default by the Certificate Insurer hereunder or under the Certificate Insurance Policy shall occur and be continuing, the Trustee, in its discretion, may proceed to protect and enforce its rights and the rights of the Holders of Certificates under this Agreement by a suit, action or proceeding in equity 133 or at law or otherwise, whether for the specific performance of any covenant or agreement contained in this Agreement or the Certificate Insurance Policy or in aid of the execution of any power granted in this Agreement or for the enforcement of any other legal, equitable or other remedy, as the Trustee, being advised by counsel (the advice of such counsel being an expense of the Trustee), shall deem most effectual to protect and enforce any of the rights of the Trustee and the Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)

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Suits for Enforcements. Except as otherwise provided in Section 9.05, in case an Event of Default or other default by the Master Servicer or the Company hereunder, any Certificate Insurer Default or other default by the Certificate Insurer hereunder or under the Certificate Insurance Policy shall occur and be continuing, the Trustee, in its discretion, may proceed to protect and enforce its rights and the rights of the Holders of Certificates under this Agreement by a suit, action or proceeding in equity 133 or at law or otherwise, whether for the specific performance of any covenant or agreement contained in this Agreement or the Certificate Insurance Policy or in aid of the execution of any power granted in this Agreement or for the enforcement of any other legal, equitable or other remedy, as the Trustee, being advised by counsel (the advice of such counsel being an expense of the Trustee), shall deem most effectual to protect and enforce any of the rights of the Trustee and the Certificateholders.. 107

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)

Suits for Enforcements. Except as otherwise provided in Section 9.05, in case an Event of Default or other default by the Master Servicer or the Company hereunder, any Certificate Insurer Default or other default by the Certificate Insurer hereunder or under the Certificate Insurance Policy shall occur and be continuing, the Trustee, in its discretion, may proceed to protect and enforce its rights and the rights of the Holders of Certificates under this Agreement by a suit, action or proceeding in equity 133 or at law or otherwise, whether for the specific performance of any covenant or agreement contained in this Agreement or the Certificate Insurance Policy or in aid of the execution of any power granted in this Agreement or for the enforcement of any other legal, equitable or other remedy, as the Trustee, being advised by counsel (the advice of such counsel being an expense of the Trustee), shall deem most effectual to protect and enforce any of the rights of the Trustee and the Certificateholders.. 109

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)

Suits for Enforcements. Except as otherwise provided in Section 9.05, in case an Event of Default or other default by the Master Servicer or the Company hereunder, any Certificate Insurer Default or other default by the Certificate Insurer hereunder or under the Certificate Insurance Policy shall occur and be continuing, the Trustee, in its discretion, may proceed to protect and enforce its rights and the rights of the Holders of Certificates under this Agreement by a suit, action or proceeding in equity 133 or at law or otherwise, whether for the specific performance of any covenant or agreement contained in this Agreement or the Certificate Insurance Policy or in aid of the execution of any power granted in this Agreement or for the enforcement of any other legal, equitable or other remedy, as the Trustee, being advised by counsel (the advice of such counsel being an expense of the Trustee), shall deem most effectual to protect and enforce any of the rights of the Trustee and the Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)

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Suits for Enforcements. Except as otherwise provided in Section 9.05, in case an Event of Default or other default by the Master Servicer or the Company hereunder, any Certificate Insurer Default or other default by the Certificate Insurer hereunder or under the Certificate Insurance Policy shall occur and be continuing, the Trustee, in its discretion, may proceed to protect and enforce its rights and the rights of the Holders of Certificates under this Agreement by a suit, action or proceeding in equity 133 or at law or otherwise, whether for the specific performance of any covenant or agreement contained in this Agreement or the Certificate Insurance Policy or in aid of the execution of any power granted in this Agreement or for the enforcement of any other legal, equitable or other remedy, as the Trustee, being advised by counsel (the advice of such counsel being an expense of the Trustee), shall deem most effectual to protect and enforce any of the rights of the Trustee and the Certificateholders.. 120

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)

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