Common use of Trustee To Act Solely with Consent of the Certificate Insurer Clause in Contracts

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 8.01 hereof; (b) agree to any amendment pursuant to Article XI hereof; provided, however, that, to the extent provided in Article XI, such consent shall not be unreasonably withheld; or (c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Section 8.04, 8.05 or 8.06 or any requirement for the Certificate Insurer’s consent for any period of time.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Home Loan Mortgage Loan Trust 2005-1), Pooling and Servicing Agreement (Lehman Home Equity Loan Trust 2004-3)

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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 8.01 hereof8.01; (b) agree to any amendment pursuant to Article XI hereof; provided, however, that, to the extent provided in Article XI, PROVIDED, HOWEVER, that such consent shall not be unreasonably withheld; or (c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Section 8.048.05, 8.05 8.06 or 8.06 8.07 or any requirement for the Certificate Insurer’s 's consent for any period of time.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Delta Funding Corp /De/), Pooling and Servicing Agreement (Delta Funding Corp /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 8.01 hereof; (b) agree to any amendment pursuant to Article XI hereof; provided, however, provided however that, to the extent provided in Article XI, such consent shall not be unreasonably withheld; or (c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Section Sections 8.04, 8.05 or 8.06 or any requirement for the Certificate Insurer’s consent for any period of time.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Securities Corp), Pooling and Servicing Agreement (Lehman Abs 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: (ai) terminate the rights and obligations of the Servicer as Servicer pursuant to Section 8.01 hereof8.01; (bii) agree to any amendment pursuant to Article XI hereof; XI, provided, however, that, to the extent provided in Article XI, that such consent shall not be unreasonably withheld; or (ciii) undertake any litigation. The Certificate Insurer may, in writing delivered to the Trustee and in its sole discretion renounce all or any of its rights under Section 8.049.23, 8.05 9.24 or 8.06 9.25 or any requirement for the Certificate Insurer’s consent for any period of time.]

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (HSBC Home Equity Loan Corp I), Pooling and Servicing Agreement (HSBC Home Equity Loan Corp I)

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 8.01 hereof8.01; (b) agree to any amendment pursuant to Article XI hereof; XI, provided, however, that, to the extent provided in Article XI, that such consent shall not be unreasonably withheld; or (c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Section 8.048.05, 8.05 8.06 or 8.06 8.07 or any requirement for the Certificate Insurer’s 's consent for any period of time.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Delta Funding Corp /De/)

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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 8.01 hereof8.01; (b) agree to any amendment pursuant to Article XI hereof; XI, provided, however, that, to the extent provided in Article XI, that such consent shall not be unreasonably withheld; or (c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Section 8.04, 8.05 or 8.06 or any requirement for the Certificate Insurer’s 's consent for any period of time.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Delta Funding Corp /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 's consent or unless directed by the Certificate Insurer: (a) terminate the rights and obligations of the Master Servicer as Master Servicer pursuant to Section 8.01 hereof8.01; (b) agree to any amendment pursuant to Article XI hereof; XI, provided, however, that, to the extent provided in Article XI, that such consent shall not be unreasonably withheld; or (c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Section 8.048.05, 8.05 8.06 or 8.06 8.07 or any requirement for the Certificate Insurer’s 's consent for any period of time.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Provident Bank)

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 Master Servicer as Master Servicer pursuant to Section 8.01 hereof8.01; (b) agree to any amendment pursuant to Article XI hereof; XI, provided, however, that, to the extent provided in Article XI, that such consent shall not be unreasonably withheld; or (c) undertake any litigation. The Certificate Insurer may, in writing and in its sole discretion renounce all or any of its rights under Section 8.04, 8.05 or 8.06 or any requirement for the Certificate Insurer’s 's consent for any period of time.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Avco Abs Receivables Corp)

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