Common use of Trustee and Trust Administrator to Act Solely with Consent of Certificate Insurer Clause in Contracts

Trustee and Trust Administrator to Act Solely with Consent of Certificate Insurer. Unless a Certificate Insurer Default has occurred and is continuing, neither the Trustee nor the Trust Administrator shall: (i) agree to any amendment pursuant to Section 12.01 which requires the consent of the Certificateholders or that has an adverse effect on the Certificate Insurer; or (ii) undertake any litigation pursuant to Section 9.02(a)(iii) or Section 10.02(a)(iii), as applicable, at the request or direction of the Certificateholders, without the prior written consent of the Certificate Insurer; provided, however, nothing contained herein shall prohibit or prevent the Trustee and the Trust Administrator from defending itself or the Trust Fund or taking any action related thereto.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (TBW Mortgage-Backed Trust Series 2007-2), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-3), Pooling and Servicing Agreement (CSAB Mortgage-Backed Trust 2007-1)

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