Waiver of Rights; Further Assurances. (a) Excepting at such times as a default in payment under the Policy shall exist or shall have occurred, none of the Trustee, the Seller or the Depositor shall grant any waiver of rights under any of the Transaction Documents to which any of them is a party without the prior written consent of the Insurer, (unless such waiver is expressly permitted in the applicable Transaction Document) and any such waiver without the prior written consent of the Insurer shall be null and void and of no force or effect.
Appears in 9 contracts
Samples: Insurance Agreement (Structured Asset Securities Corp Mo Pa Th Ce Ser 2003-25xs), Insurance Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 Bc10), Insurance Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 28xs)
Waiver of Rights; Further Assurances. (a) Excepting at such times as a default in payment under the Policy shall exist or shall have occurred, none of the Trustee, the neither Seller or the Depositor shall grant any waiver of rights under any of the Transaction Documents to which any of them is a party without the prior written consent of the Insurer, (unless such waiver is expressly permitted in the applicable Transaction Document) and any such waiver without the prior written consent of the Insurer shall be null and void and of no force or effect.
Appears in 1 contract
Samples: Insurance Agreement (Structured Asset Sec Corp Mmort Pass THR Cert Ser 2001-13)
