Trustee To Act Solely with Consent of the Certificate Insurer. Unless a Certificate Insurer Default exists, the Trustee shall not, without the Certificate Insurer's consent or unless directed by the Certificate Insurer: (a) terminate the rights and obligations of the Servicer as Servicer pursuant to Section 7.01 hereof; (b) agree to any amendment pursuant to Section 10.03 hereof; or (c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Sections 7.04, 7.05 or 7.06 or any requirement for the Certificate Insurer's consent for any period of time.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Trustee To Act Solely with Consent of the Certificate Insurer. Unless a Certificate Insurer Default exists, the Trustee shall not, without the Certificate Insurer's consent or unless directed by the Certificate Insurer:
(a) terminate the rights and obligations of the Servicer as Servicer pursuant to Section 7.01 hereof7.01;
(b) agree to any amendment pursuant to Section 10.03 hereof10.01; or
(c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Sections 7.04, 7.05 or 7.06 this Agreement or any requirement for the Certificate Insurer's consent for any period of time.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc CDC Mort Cap Tr 2003 He4), Pooling and Servicing Agreement (Morgan Stanley Abs Capital 1 Inc CDC Mort Cap Trust 2004-He1)
Trustee To Act Solely with Consent of the Certificate Insurer. Unless a Certificate Insurer Default exists, the Trustee shall not, without the Certificate Insurer's consent or unless directed by the Certificate Insurer:
(a) terminate the rights and obligations of the Servicer as Servicer pursuant to Section 7.01 7.1 hereof;
(b) agree to any amendment pursuant to Section 10.03 10.3 hereof; or
(c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Sections 7.04, 7.05 or 7.06 Section 7.4 or any requirement for the Certificate Insurer's consent for any period of time.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Trustee To Act Solely with Consent of the Certificate Insurer. Unless a Certificate Insurer Default exists, the Trustee shall not, without the Certificate Insurer's ’s consent or unless directed by the Certificate Insurer:
(a) terminate the rights and obligations of the Servicer as Servicer pursuant to Section 7.01 hereof7.01;
(b) agree to any amendment pursuant to Section 10.03 hereof10.01; or
(c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Sections 7.04, 7.05 or 7.06 this Agreement or any requirement for the Certificate Insurer's ’s consent for any period of time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc CDC Mor Cap Tr 2004-He2)
Trustee To Act Solely with Consent of the Certificate Insurer. Unless a Certificate Insurer Default exists, the The Trustee shall not, without the Certificate Insurer's written consent or unless directed in writing by the Certificate Insurer:
(a) terminate the rights and obligations of the Servicer as Servicer pursuant to Section 7.01 hereof;
(b) agree to any amendment pursuant to Section 10.03 hereof; or
(c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Sections 7.04, 7.05 or 7.06 or any requirement for the Certificate Insurer's consent for any period of time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Trustee To Act Solely with Consent of the Certificate Insurer. Unless a Certificate Insurer Default exists, the The Trustee shall not, without the Certificate Insurer's written consent or unless directed in writing by the Certificate Insurer:
(a) terminate the rights and obligations of the Servicer as Servicer pursuant to Section 7.01 hereof;
(b) agree to any amendment pursuant to Section 10.03 hereof; oror 104
(c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Sections 7.04, 7.05 or 7.06 or any requirement for the Certificate Insurer's consent for any period of time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Business Financial Services Inc /De/)
Trustee To Act Solely with Consent of the Certificate Insurer. Unless a Certificate Insurer Default exists, the Trustee shall not, without the Certificate Insurer's consent or unless directed by the Certificate Insurer:
(a) terminate the rights and obligations of the Servicer as Servicer pursuant to Section 7.01 12.1 hereof;
(b) agree to any amendment pursuant to Section 10.03 15.2 hereof; or
(c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Sections 7.04, 7.05 or 7.06 or Section 12.5 any requirement for the Certificate Insurer's consent for any period of time.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)
