Common use of Waiver of Master Servicer Events of Termination Clause in Contracts

Waiver of Master Servicer Events of Termination. The Majority Certificateholders may, on behalf of all Certificateholders, waive any events permuting removal of the Master Servicer as servicer pursuant to this Article VII, provided, however, that the Majority Certificateholders may not waive such events or a Master Servicer Event of Termination in making a required distribution on a Certificate without the consent of the Holder of such Certificate. Upon any waiver of a past default, such default shall cease to exist and any Master Servicer Event of Termination arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereto except to the extent expressly so waived. Notice of any such waiver shall be given by the Trustee to the Rating Agency.

Waiver of Master Servicer Events of Termination. The Majority Certificateholders may, on behalf of all Certificateholders, waive any events permuting removal of the Master Servicer as servicer pursuant to this Article VII, provided, however, that the Majority Certificateholders may not waive such events or a Master Servicer Event of Termination in making a required distribution on a Certificate without the consent of the Holder of such Certificate. Upon any waiver of a past default, such default shall cease to exist and any Master Servicer Event of Termination arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereto except to the extent expressly so waived. Notice of any such waiver shall be given by the Trustee to the Rating AgencyAgencies.

Waiver of Master Servicer Events of Termination. The Majority Certificateholders may, on behalf of all Certificateholders, waive any events permuting permitting removal of the Master Servicer as servicer pursuant to this Article VII, providedPROVIDED, howeverHOWEVER, that the Majority Certificateholders may not waive such events or a Master Servicer Event of Termination in making a required distribution on a Certificate without the consent of the Holder of such Certificate. Upon any waiver of a past default, such default shall cease to exist and any Master Servicer Event of Termination arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereto except to the extent expressly so waived. Notice of any such waiver shall be given by the Trustee to the Rating AgencyAgencies.

Waiver of Master Servicer Events of Termination. The Majority Certificateholders may, on behalf of all Certificateholders, waive any events permuting permitting removal of the Master Servicer as servicer pursuant to this Article VII, provided, however, that the Majority Certificateholders may not waive such events or an event that results in a Master Servicer Event of Termination in making a failure to make any required distribution on a Certificate without the consent of the Holder of such Certificate. Upon any waiver of a past defaultMaster Servicer Event of Termination, such default event shall cease to exist and any Master Servicer Event of Termination arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default event or impair any right consequent thereto except to the extent expressly so waived. Notice of any such waiver shall be given by the Trustee to the Rating AgencyAgencies.