Waiver of Past Events of Default. Subject to any Intercreditor Agreement, the Majority in Interest of Certificateholders of any Series (i) may on behalf of all of the Certificateholders waive any past Event of Default under the related Pass Through Trust or the related Series Supplement and its consequences or (ii) if the Pass Through Trustee is the Controlling Party, may direct the Pass Through Trustee to instruct the applicable Indenture Trustee to waive, any past Indenture Default under any Indenture and its consequences, and thereby annul any direction given by such Certificateholders or the Pass Through Trustee to such Indenture Trustee with respect thereto. Upon such waiver such Event of Default will cease to exist and any Event of Default arising therefrom will be deemed to have been cured for every purpose of such Pass Through Trust, but no such waiver will extend to any subsequent or other Event of Default thereunder or impair any right consequent thereon; provided that any such waiver will be effective to waive any such past Event of Default and its consequences as described above if, but only if, the correlative Indenture Event of Default has been waived under the related Indenture by the requisite holders of the Equipment Certificates outstanding thereunder; and provided further that in the absence of written instructions from all Certificateholders of any Series (or the proxy therefor), the Pass Through Trustee shall not waive any Event of Default (i) consisting of the failure to pay any principal of, or premium (if any), or interest on, or other amounts due under, any Equipment Certificate held by the related Pass Through Trust and the consequent failure to distribute any related Scheduled Payment or Special Payment pursuant to Article V hereof on or after the respective due date therefor set forth in the related Series Supplement or (ii) in respect of a covenant or provision under any Pass Through Trust that, under Article XI hereof or the related Series Supplement, cannot be modified or amended without the consent of each Certificateholder of the related Series (or the proxy therefor).
Waiver of Past Events of Default. The Holders of Investor Certificates evidencing not less than 51% of the aggregate Percentage Interests of the Investor Certificates together, with the consent of the Certificate Insurer, may, on behalf of all Holders of Certificates, waive any Event of Default by the Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required deposits to or payments from the Certificate Account in accordance with this Agreement. Upon any such waiver of a past Event of Default, such Event of Default shall cease to exist and 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 thereon.
Waiver of Past Events of Default. Either the Trustee or the Majority Holders may, on behalf of all Holders of Notes, waive any Servicer Default hereunder and its consequences; PROVIDED, that in the absence of written instructions from all Holders the Trustee shall not waive any Servicer Default (i) consisting of the failure to remit or deposit any interest on the Notes as required by it hereunder or (ii) in respect of a covenant or provision hereunder that under Article IX hereof cannot be modified or amended without the consent of each Holder. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default arising therefrom shall be deemed to have been remedied for every purpose of this Indenture. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon.
Waiver of Past Events of Default. The Holders of Certificates evidencing not less than 51% of the aggregate Percentage Interests may, on behalf of all Holders of Certificates, waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required deposits to or payments from the Certificate Accounts in accordance with this Agreement. Upon any such waiver of a past default, such default shall cease to exist, and any Event of Default 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 thereon.
Waiver of Past Events of Default. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.02, the Required Noteholders may waive any past Event of Default and its consequences except an Event of Default resulting from a default (a) in payment of principal of or interest on any of the Notes, (b) in respect of a covenant or provision hereof which cannot be modified or amended without the consent of each Noteholder, or (c) an Event of Default under Section 5.01(v). Any waiver of a Default or an Event of Default of a type set forth in (a) through (c) of the preceding sentence shall require the consent of all Noteholders. In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively; provided that no such waiver shall extend to any subsequent or other Event of Default or impair any right consequent thereto. Upon any such waiver, such Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, for every purpose of this Indenture; provided that no such waiver shall extend to any subsequent or other Event of Default or impair any right consequent thereto.
Waiver of Past Events of Default. PRIOR TO THE TIME -------------------------------- A JUDGMENT OR DECREE FOR PAYMENT OF THE MONEY DUE HAS BEEN OBTAINED BY THE INDENTURE TRUSTEE, AS PROVIDED IN THIS ARTICLE VII, THE INDENTURE TRUSTEE, AT THE WRITTEN DIRECTION OF THE HOLDERS OF A MAJORITY-IN-INTEREST OF THE NOTES MAY WAIVE ANY PAST EVENT OF DEFAULT WITH RESPECT TO THE NOTES AND ITS CONSEQUENCES EXCEPT AN EVENT OF DEFAULT (A) IN THE PAYMENT OF PRINCIPAL OF, INTEREST ON OR LOAN YIELD MAINTENANCE AMOUNTS, IF ANY, WITH RESPECT TO ANY OF THE NOTES OR (B) IN RESPECT OF A COVENANT OR PROVISION HEREOF WHICH CANNOT BE MODIFIED OR AMENDED WITHOUT THE CONSENT OF THE HOLDER OF EACH NOTE AFFECTED. UPON ANY SUCH WAIVER, SUCH EVENT OF DEFAULT SHALL CEASE TO EXIST AND BE DEEMED TO HAVE BEEN CURED AND NOT TO HAVE OCCURRED, AND ANY EVENT OF DEFAULT ARISING THEREFROM SHALL BE DEEMED TO HAVE BEEN CURED, AND NOT TO HAVE OCCURRED FOR EVERY PURPOSE OF THIS INDENTURE. IN THE CASE OF ANY SUCH WAIVER, THE ISSUER, THE INDENTURE TRUSTEE AND THE HOLDERS OF THE NOTES SHALL BE RESTORED TO THEIR FORMER POSITIONS AND RIGHTS HEREUNDER, RESPECTIVELY; BUT NO SUCH WAIVER SHALL EXTEND TO ANY SUBSEQUENT OR OTHER EVENT OF DEFAULT OR IMPAIR ANY RIGHT CONSEQUENT THEREON. UPON ANY SUCH WAIVER, THE INDENTURE TRUSTEE SHALL PROVIDE NOTICE OF SUCH WAIVER TO THE RATING AGENCIES.
Waiver of Past Events of Default. The Holders of Certificates evidencing not less than 66 2/3% of the aggregate Voting Rights of the Certificates may, on behalf of all Holders of Certificates, waive any default by the Master Servicer or the Special Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required deposits to or payments from the Collection Account in the case of the Master Servicer or the REO Account in the case of Special Servicer, or in remitting payments as received to the Master Servicer by the Special Servicer, in each case in accordance with this Agreement. Upon any such waiver of a past default, such default shall cease to exist, and any Event of Default 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 thereon.
Waiver of Past Events of Default. Either the Trustee or the Holders of Notes evidencing, in the aggregate, not less than 66-2/3% of the Outstanding Principal of the Notes may, on behalf of all Holders of Notes, waive any Servicer Default hereunder and its consequences; provided, that in the absence of written instructions from all Holders the Trustee shall not waive any Servicer Default (i) consisting of the failure to remit or deposit any interest on the Notes as required by it hereunder, or the failure of the Servicer or Special Servicer to make any Advance as required hereunder, or (ii) in respect of a covenant or provision hereunder that under Article IX hereof cannot be modified or amended without the consent of each Holder or (iii) as described in subsections (vi) or (vii) of Section 7.24 hereof. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default arising therefrom shall be deemed to have been remedied for every purpose of this Indenture. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon.
Waiver of Past Events of Default. Prior to the declaration of the acceleration of the Senior Notes as provided in Section 9.01, the Majority Noteholders may, on behalf of the Holders of all the Senior Notes, waive any past Indenture Default or Event of Default hereunder and its consequences, except a default (a) in the payment of principal of or interest on any of the Senior Notes or (b) in respect of a covenant or provision hereof which cannot be modified or amended without the consent of the Holder of each Senior Note affected. In the case of any such waiver, the Issuers, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, and the relevant Indenture Default or Event of Default shall cease to exist and be deemed to
Waiver of Past Events of Default. The Holders of Certificates evidencing, in the aggregate, not less than a majority of the Voting Rights of the Certificates may, on behalf of all Holders of Certificates, waive any Event of Default 131 hereunder and its consequences; provided, that in the absence of (i) written instructions from all Certificateholders and (ii) the reimbursement to the Trustee and the Fiscal Agent of all costs and expenses (including attorneys' fees) incurred by the Trustee and the Fiscal Agent in connection with such Event of Default, the Trustee shall not waive any Event of Default (a) consisting of the failure to remit to the Trustee any principal of or interest on, or other amounts due under, the Mortgage Note and received by the Servicer, or the failure of the Servicer to make any required Advance hereunder or (b) in respect of a covenant or provision hereunder that under Article Eleven hereof cannot be modified or amended without the consent of such Certificateholder. Upon any such waiver of a past default, such default shall cease to exist, and any Event of Default 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 thereon.
