Common use of Waiver of Servicer Defaults and Master Servicer Defaults Clause in Contracts

Waiver of Servicer Defaults and Master Servicer Defaults. The Master Servicer or the Trustee may waive only by written notice from Certificateholders evidencing 66-2/3 of the Voting Rights (unless such default materially and adversely affects all Certificateholders, in which case the written direction shall be from all of the Certificateholders) any default by the Servicer or the Master Servicer, respectively, in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default or Master Servicing Default, as applicable, 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 except to the extent expressly so waived in writing.

Waiver of Servicer Defaults and Master Servicer Defaults. The Master Servicer or the Trustee may waive only by written notice from Certificateholders evidencing 66-2/3 2/3% of the Voting Rights (unless such default materially and adversely affects all Certificateholders, in which case the written direction shall be from all of the Certificateholders) any default by the a Servicer or the Master Servicer, respectively, Servicer in the performance of its obligations hereunder or under the Servicing Agreement and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default or Master Servicing Default, as applicable, Servicer 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 except to the extent expressly so waived in writing.

Waiver of Servicer Defaults and Master Servicer Defaults. The Master Servicer or the Trustee may shall waive only by written notice from Certificateholders evidencing 66-2/3 2/3% of the Voting Rights of the Certificates affected thereby (unless such default materially and adversely affects all Certificateholders, in which case the written direction shall be from all of the Certificateholders) any default by the a Servicer or the Master Servicer, respectively, Servicer in the performance of its obligations hereunder or under the Servicing Agreement and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default or Master Servicing Default, as applicable, Servicer 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 except to the extent expressly so waived in writing.

Waiver of Servicer Defaults and Master Servicer Defaults. The Master Servicer or the Trustee may waive only by written notice from Certificateholders evidencing 66-2/3 of the Voting Rights (unless such default materially and adversely affects all Certificateholders, in which case the written direction shall be from all of the Certificateholders) any default by the Servicer or the Master Servicer, respectively, Servicer in the performance of its obligations hereunder or under the M&T Servicing Agreement, GreenPoint Servicing Agreement or Xxxxx Fargo Servicing Agreement, as applicable, and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default or Master Servicing Default, as applicable, Servicer 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 except to the extent expressly so waived in writing.

Waiver of Servicer Defaults and Master Servicer Defaults. The Master Servicer or Trustee, shall waive, at the Trustee direction of the Certificate Insurer and may waive only waive, by written notice from Certificateholders evidencing 66-2/3 2/3% of the Voting Rights of the Certificates affected thereby (unless such default materially and adversely affects all Certificateholders, in which case the written direction shall be from all of the Certificateholders) any default by the Servicer or the Master Servicer, respectively, Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default or Master Servicing Default, as applicable, Servicer 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 except to the extent expressly so waived in writing.

Waiver of Servicer Defaults and Master Servicer Defaults. The Master Servicer or the Trustee may waive only by written notice from Certificateholders evidencing 66-2/3 2/3% of the Voting Rights (unless such default materially and adversely affects all Certificateholders, in which case the written direction shall be from all of the Certificateholders) any default by the a Servicer or the Master Servicer, respectively, Servicer in the performance of its obligations hereunder or under the Servicing Agreement and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default or Master Servicing Default, as applicable, Servicer 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 except to the extent expressly so waived in writingwaived.