Common use of Waiver of Defaults Clause in Contracts

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail give prompt written notice thereof to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersBondholders and the Bond Insurer, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder known to a Responsible Officer of Defaultthe Indenture Trustee. The Holders Bond Insurer, or if a Bond Insurer Default exists, the holders of Notes aggregating at least 51% of the Note aggregate Bond Principal Balance of the Notes may, on behalf of all Noteholders, Bonds may waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesBonds. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Master Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of DefaultDefault hereunder known to the Trustee. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made of any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to the Securities Administrator, who shall give prompt written notice thereof to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Securities Administrator shall give notice of any such waiver to the Trustee and the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail By Act delivered to all Noteholdersthe Company and the Trustee, within 60 days after the occurrence Holders of not less than a majority in principal amount of the Outstanding Securities of any Master Servicer affected series may on behalf of the Holders of all the Securities of such series waive any existing Event of Default hereunder with respect to such series and its consequences (including an acceleration and its consequences, including any related payment default that resulted from such acceleration), except an Event of which a Responsible Officer Default (1) in the payment of the Indenture Trustee received written notice principal of (or has actual knowledgepremium, if any) or interest on any Security of such series or in the payment of any mandatory sinking fund installment with respect to the Securities of such series, or (2) in respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected thereby. The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Persons entitled to waive any past default hereunder. If a record date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to waive any default hereunder, whether or not such Holders remain Holders after such record date; provided, that unless such Master Servicer Event of Default majority in principal amount shall have been curedobtained prior to the date which is 90 days after such record date, notice any such waiver previously given shall automatically and without further action by any Holder be canceled and of each such Master Servicer Event of Default. The Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notesno further effect. Upon any such waiver of a past defaultwaiver, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied cured for every purpose of this Agreement. No Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agenciesthereon.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersHolders of the Certificates, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersHolders of the Certificates, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersBondholders, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder known to a Responsible Officer of Defaultthe Indenture Trustee. The Holders holders of Notes aggregating at least 51% of the Note aggregate Bond Principal Balance of the Notes may, on behalf Bonds (for which purpose the Class A-IO Bonds will be deemed to have a Bond Principal Balance equal to 5% of all Noteholders, the aggregate Bond Principal Balance of the other Classes of Bonds) may waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesBonds. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Master Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail give prompt written notice thereof to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and the Certificate Insurer.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to the Securities Administrator, who shall give prompt written notice thereof to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Securities Administrator shall give notice of any such waiver to the Trustee, who shall then give such notice to the Rating Agencies.

Waiver of Defaults. The Indenture Grantor Trustee shall transmit by mail to all NoteholdersGrantor Trust Certificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Grantor Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Grantor Trust Certificates aggregating at least 51% of the Note Principal Balance of the Notes Certificates may, on behalf of all NoteholdersGrantor Trust Certificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesGrantor Trust Certificates, which default may only be waived by Holders of Notes Grantor Trust Certificates aggregating 100% of the Note Certificate Principal Balance of the NotesGrantor Trust Certificates. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Grantor Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder of Defaultwhich a Responsible Officer of the Indenture Trustee has actual knowledge. The Holders holders of Notes aggregating at least 51% of the aggregate Note Principal Balance of each Class of the Notes may, on behalf of all Noteholders, may waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Master Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Master Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders and the Certificate Insurer, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of DefaultDefault hereunder known to the Trustee. The Certificate Insurer or the Holders of Notes aggregating at least Certificates evidencing not less than 51% of the Note Principal Balance Voting Rights (with the consent of the Notes Certificate Insurer, which consent shall not be unreasonably withheld) may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made of any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesCertificates. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and the Certificate Insurer.

Waiver of Defaults. The Indenture Trustee shall transmit by mail By Act delivered to all Noteholdersthe Company and the Trustee, within 60 days after the occurrence Holders of not less than a majority in principal amount of the Outstanding Securities of any Master Servicer affected series may on behalf of the Holders of all the Securities of such series waive any existing Event of Default hereunder with respect to such series and its consequences (including an acceleration and its consequences, including any related payment default that resulted from such acceleration), except an Event of which a Responsible Officer Default (1) in the payment of the Indenture Trustee received written notice principal of (or has actual knowledgepremium, if any) or interest on any Security of such series or in the payment of any mandatory sinking fund installment with respect to the Securities of such series, or (2) in respect of a covenant or provision hereof which under ARTICLE IX cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected thereby. The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Persons entitled to waive any past default hereunder. If a record date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to waive any default hereunder, whether or not such Holders remain Holders after such record date; provided, that unless such Master Servicer Event of Default majority in principal amount shall have been curedobtained prior to the date which is 90 days after such record date, notice any such waiver previously given shall automatically and without further action by any Holder be canceled and of each such Master Servicer Event of Default. The Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notesno further effect. Upon any such waiver of a past defaultwaiver, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied cured for every purpose of this Agreement. No Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agenciesthereon.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersBondholders and the Bond Insurer, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder known to a Responsible Officer of Defaultthe Indenture Trustee. The Holders Bond Insurer or if a Bond Insurer Default exists, the holders of Notes aggregating at least 51% of the Note aggregate Bond Principal Balance of the Notes may, on behalf of all Noteholders, Bonds may waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesBonds. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Master Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to the Securities Administrator, who shall give prompt written notice thereof to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Securities Administrator shall give notice of any such waiver to the Trustee, who shall then give such notice to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail By Act delivered to all Noteholdersthe Company and the Trustee, within 60 days after the occurrence Holders of not less than a majority in principal amount of the Outstanding Securities of any Master Servicer affected series may on behalf of the Holders of all the Securities of such series waive any existing Event of Default hereunder with respect to such series and its consequences (including an acceleration and its consequences, including any related payment default that resulted from such acceleration), except an Event of which a Responsible Officer Default (a) in the payment of the Indenture Trustee received written notice principal of (or has actual knowledgepremium, if any) or interest on any Security of such series or in the payment of any mandatory sinking fund installment with respect to the Securities of such series, or (b) in respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected thereby. The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Persons entitled to waive any past default hereunder. If a record date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to waive any default hereunder, whether or not such Holders remain Holders after such record date; provided, that unless such Master Servicer Event of Default majority in principal amount shall have been curedobtained prior to the date which is 90 days after such record date, notice any such waiver previously given shall automatically and without further action by any Holder be canceled and of each such Master Servicer Event of Default. The Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notesno further effect. Upon any such waiver of a past defaultwaiver, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied cured for every purpose of this Agreement. No Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agenciesthereon.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and MBIA.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders and the Certificate Insurers, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of DefaultDefault hereunder known to the Trustee. The Certificate Insurers and Holders of Notes aggregating at least Certificates evidencing not less than 51% of the Note Principal Balance Voting Rights ( with the consent of the Notes Certificate Insurers, which consent shall not be unreasonably withheld) may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made of any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesCertificates. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and the Certificate Insurers.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, Certificateholders and the Note Insurer, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Note Insurer of, if a Note Insurer Default exists, Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by the Note Insurer and the Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and the Note Insurer.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, at the expense of the trust, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies. All costs and expenses incurred by the Trustee in connection with the removal of the Master Servicer shall, to the extent not paid by the terminated Master Servicer, be reimbursed to the Trustee pursuant to Section 9.05.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesNotes or a default in the performance of any covenant in this Agreement pertaining to a REMIC Conversion or a TMP Trigger Event, each of which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders, the Certificate Insurer and the Swap Provider, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of DefaultDefault hereunder known to the Trustee. The Certificate Insurer or the Holders of Notes aggregating at least Certificates evidencing not less than 51% of the Note Principal Balance Voting Rights (with the consent of the Notes Certificate Insurer, which consent shall not be unreasonably withheld) may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made of any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesCertificates. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and the Certificate Insurer.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, Certificateholders and the Note Insurer, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and the Note Insurer.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to the Insurer and all Class VI-A Noteholders, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder of Defaultwhich a Responsible Officer of the Indenture Trustee has actual knowledge. The Holders Insurer, or the holders of Notes aggregating at least 51% of the aggregate Note Principal Balance of the Notes mayClass VI-A Notes, on behalf with the consent of all Noteholdersthe Insurer, may waive any default by the Master HELOC Back-Up Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Class VI-A Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee HELOC Back-Up Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to the Securities Administrator, who shall give prompt written notice thereof to the Guarantor and all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance Trust Fund with the consent of the Notes Guarantor may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance Trust Fund (with the consent of the NotesGuarantor). Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Securities Administrator shall give notice of any such waiver to the Trustee and the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to (i) all NoteholdersNoteholders and Certificateholders within 30 days, and (ii) to the Note Insurer within 60 days five (5) Business Days, after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Note Insurer of, if a Note Insurer Default exists, Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by the Note Insurer and the Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and the Note Insurer.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all Noteholders95 Certificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersSecurityholders, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder of Defaultwhich a Responsible Officer of the Indenture Trustee has actual knowledge. The Holders holders of Notes aggregating at least 51% of the aggregate Note Principal Balance or Certificate Principal Balance, as applicable, of each Class of the Notes may, on behalf of all Noteholders, Securities may waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Master Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Master Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders and the Certificate Insurers, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of DefaultDefault hereunder known to the Trustee. The Controlling Insurer may, and the Holders of Notes Certificates evidencing Percentage Interests aggregating at least not less than 51% of the Note Principal Balance Trust Fund may, with the consent of the Notes mayControlling Insurer, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesCertificates. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Master Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to the Securities Administrator, who shall give prompt written notice thereof to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Securities Administrator shall give notice of any such waiver to the Trustee, who shall then give such notice to the Rating Agencies.. 178

Waiver of Defaults. The Indenture Trustee shall transmit by mail to the Insurer and all Class II-A Noteholders, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder of Defaultwhich a Responsible Officer of the Indenture Trustee has actual knowledge. The Holders Insurer, or the holders of Notes aggregating at least 51% of the aggregate Note Principal Balance of the Notes mayClass II-A Notes, on behalf with the consent of all Noteholdersthe Insurer, may waive any default by the Master HELOC Back-Up Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Class II-A Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee HELOC Back-Up Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, within 60 10 days after the occurrence of any RMBS Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such RMBS Master Servicer Event of Servicing Default shall have been cured, notice of each such RMBS Master Servicer Event Servicing Default hereunder of Defaultwhich a Responsible Officer of the Indenture Trustee has actual knowledge. The Holders holders of Notes aggregating at least 51% of the aggregate Note Principal Balance of each Class of the Notes may, on behalf of all Noteholders, may waive any default by the RMBS Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any RMBS Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this RMBS Master Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee RMBS Master Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to the Insurer and all Class IX-A Noteholders, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder of Defaultwhich a Responsible Officer of the Indenture Trustee has actual knowledge. The Holders Insurer, or the holders of Notes aggregating at least 51% of the aggregate Note Principal Balance of the Notes mayClass IX-A Notes, on behalf with the consent of all Noteholdersthe Insurer, may waive any default by the Master HELOC Back-Up Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Class IX-A Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee HELOC Back-Up Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice cnotice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional UInterests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by ------------------- mail to all NoteholdersBondholders and the Bond Insurer, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder known to a Responsible Officer of Defaultthe Indenture Trustee. The Holders Bond Insurer, or if a Bond Insurer Default exists, the holders of Notes aggregating at least 51% of the Note aggregate Bond Principal Balance of the Notes may, on behalf of all Noteholders, Bonds may waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesBonds. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Master Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to the Credit Enhancer and all Class V-A Noteholders, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder of Defaultwhich a Responsible Officer of the Indenture Trustee has actual knowledge. The Holders Credit Enhancer, or the holders of Notes aggregating at least 51% of the aggregate Note Principal Balance of the Notes mayClass V-A Notes, on behalf with the consent of all Noteholdersthe Credit Enhancer, may waive any default by the Master HELOC Back-Up Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Class V-A Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee HELOC Back-Up Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders and the Class A-5 Insurer, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of DefaultDefault hereunder known to the Trustee. The Class A-5 Insurer and Holders of Notes aggregating at least Certificates evidencing not less than 51% of the Note Principal Balance Voting Rights (with the consent of the Notes Class A-5 Insurer, which consent shall not be unreasonably withheld) may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made of any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesCertificates. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and the Class A-5 Insurer.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders and the Certificate Insurer, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of DefaultDefault hereunder known to the Trustee. The Certificate Insurer or the Holders of Notes aggregating at least Certificates evidencing not less than 51% of the Note Principal Balance Voting Rights (with the consent of the Notes Certificate Insurer, which consent shall not be unreasonably withheld) may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made of any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesCertificates. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.Agencies and the Certificate Insurer. 121

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgency.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders and the Class I-A Insurer, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of DefaultDefault hereunder known to the Trustee. The Class I-A Insurer and Holders of Notes aggregating at least Certificates evidencing not less than 51% of the Note Principal Balance Voting Rights (with the consent of the Notes Class I-A Insurer) may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made of any required distribution on remittances to the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesSecurities Administrator. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to each Rating Agency and the Rating AgenciesClass I-A Insurer.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event Servicing Default hereunder of Defaultwhich a Responsible Officer of the Indenture Trustee has actual knowledge. The Holders holders of Notes aggregating at least 51% of the aggregate Note Principal Balance of each Class of the Notes may, on behalf of all Noteholders, may waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Master Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Master Servicer shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes aggregating at least 51% of the Note Certificate Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Certificate Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders and the Insurer, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of DefaultDefault hereunder known to the Trustee. The Insurer and Holders of Notes aggregating at least Certificates evidencing not less than 51% of the Note Principal Balance Voting Rights ( with the consent of the Notes Insurer, which consent shall not be unreasonably withheld) may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made of any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesCertificates. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and the Insurer.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, Certificateholders, each Swap Provider and the Note Insurer, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Note Insurer or, if a Note Insurer Default exists, the Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by the Note Insurer and the Holders of Notes aggregating 100% of the Note Principal Balance of the Notes. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and the Note Insurer.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all Noteholders, within 60 days after the occurrence of any Master Servicer Event of Default of which a Responsible Officer of the Indenture Trustee received written notice or has actual knowledge, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes aggregating at least 51% of the Note Principal Balance of the Notes may, on behalf of all Noteholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the Notes, provided that in connection with such waiver, any outstanding expenses, reimbursements or indemnities owed to the Indenture Trustee have been paid or reimbursed. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee shall give notice of any such waiver to the Rating AgenciesAgencies and Radian.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to the Securities Administrator, who shall give prompt written notice thereof to all NoteholdersCertificateholders, within 60 days after the occurrence of any Master Servicer Event of Default of which actually known to a Responsible Officer of the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Default shall have been cured, notice of each such Master Servicer Event of Default. The Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating at least not less than 51% of the Note Principal Balance of the Notes Trust Fund may, on behalf of all NoteholdersCertificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the NotesCertificates, which default may only be waived by Holders of Notes Certificates evidencing Fractional Undivided Interests aggregating 100% of the Note Principal Balance of the NotesTrust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent 138 thereon except to the extent expressly so waived. The Indenture Trustee Securities Administrator shall give notice of any such waiver to the Trustee, who shall then give such notice to the Rating Agencies.

Waiver of Defaults. The Indenture Trustee shall transmit by mail to all NoteholdersBondholders and the Bond Insurer, within 60 10 days after the occurrence of any Master Servicer Event of Servicing Default of which a Responsible Officer of known to the Indenture Trustee received written notice or has actual knowledgeTrustee, unless such Master Servicer Event of Servicing Default shall have been cured, notice of each such Master Servicer Event of DefaultServicing Default hereunder actually known to a Responsible Officer the Indenture Trustee. The Holders Bond Insurer or if a Bond Insurer Default exists, the holders of Notes aggregating at least 51% of the Note aggregate Bond Principal Balance of the Notes may, on behalf of all Noteholders, Bonds may waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Notes, which default may only be waived by Holders of Notes aggregating 100% of the Note Principal Balance of the NotesBonds. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Master Servicer Event of Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Indenture Trustee Master Servicer shall give notice of any such waiver to the Rating Agencies.