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

Waiver of Past Servicer Termination Events. The Noteholders evidencing not less than 51% of the Note Balance of the Notes may, on behalf of all Noteholders, waive any Servicer Termination Event and its consequences, except an event resulting from the failure to make any required deposits to or payments from the Accounts in accordance with this Agreement. Upon any such waiver of a Servicer Termination Event, such event 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 event or impair any right arising therefrom, except to the extent expressly so waived.

Waiver of Past Servicer Termination Events. The Noteholders evidencing not less than 51% of the Note Balance of the Notes Controlling Class may, on behalf of all Noteholders, waive any Servicer Termination Event and its consequences, except an event resulting from the failure to make any required deposits to or payments from the Accounts in accordance with this Agreement. Upon any such waiver of a Servicer Termination Event, such event 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 event or impair any right arising therefrom, except to the extent expressly so waived.

Waiver of Past Servicer Termination Events. The Noteholders evidencing holding not less than 51% of the Note Balance of the Notes Controlling Class may, on behalf of all Noteholders, waive in writing any Servicer Termination Event and its consequences, except an event resulting from the failure to make any required deposits to or payments from the Trust Accounts in accordance with this Agreement. Upon any such waiver of a Servicer Termination Event, such event 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 event or impair any right arising therefrom, except to the extent expressly so waived.consequent thereto. ARTICLE NINE

Waiver of Past Servicer Termination Events. The Noteholders evidencing not less than 51% of the Note Balance of the Notes [Controlling Class][Notes] may, on behalf of all Noteholders, waive any Servicer Termination Event and its consequences, except an event resulting from the failure to make any required deposits to or payments from the Accounts in accordance with this Agreement. Upon any such waiver of a Servicer Termination Event, such event 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 event or impair any right arising therefrom, except to the extent expressly so waived.