Subrogation and Cooperation. (a) The Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the Notes, the Credit Enhancer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuer, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:
(i) institute Proceedings for the collection of all amounts then payable on the Notes, or under this Indenture in respect to the Notes and all amounts payable under the Insurance Agreement enforce any judgment obtained and collect from the Issuer monies adjudged due;
(ii) sell the Trust Estate or any portion thereof or rights or interest therein, at one or more public or private Sales called and conducted in any manner permitted by law;
(iii) file or record all Assignments that have not previously been recorded;
(iv) institute Proceedings from time to time for the complete or partial foreclosure of this Indenture; and
(v) exercise any remedies of a secured party under the Uniform Commercial Code and take any other appropriate action to protect and enforce the rights and remedies of the Credit Enhancer hereunder.
Subrogation and Cooperation. 23 Section 4.13 Repayment of Monies Held by Paying Agent.........................24 Section 4.14 Temporary Notes..................................................24
Subrogation and Cooperation. 22 Section 4.04. Release of Collateral........................................................22
Subrogation and Cooperation. (a) The Issuer and the Indenture Trustee acknowledge that (i) to the extent the Insurer makes payments under the Insurance Policy on account of principal of or interest on the Mortgage Loans, the Insurer will be fully subrogated to the rights of the Noteholders to receive such principal of and interest on the Mortgage Loans of the related Trust Estate, and (ii) the insurer shall be paid such principal and interest only from the sources and in the manner provided herein and in the Insurance and Indemnity Agreement for the payment of such principal and interest.
(b) The Indenture Trustee shall cooperate in all respects with any reasonable request or direction by the Insurer for action to preserve or enforce the Insurer’s rights or interest under this Indenture or the Insurance and Indemnity Agreement, consistent with this Indenture and without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including without limitation upon the occurrence and continuance of an Insurer Default, a request to take any one or more of the following actions:
(i) institute Proceedings for the collection of all amounts then payable on the Class A Notes or under this Indenture in respect to the Class A Notes and all amounts payable under the Insurance and Indemnity Agreement and to enforce any judgment obtained and collect from the Issuer monies adjudged due;
(ii) sell the Trust Estate or any portion thereof or rights or interest therein, at one or more public or private sales called and conducted in any manner permitted by law;
(iii) file or record all Assignments of Mortgages that have not previously been recorded;
(iv) institute Proceedings from time to time for the complete or partial foreclosure of this Indenture; and
(v) exercise any remedies of a secured party under the UCC and take any other appropriate action to protect and enforce the rights and remedies of the Insurer hereunder. Following the payment in full of the Class A Notes, the Insurer shall continue to have all rights and privileges provided to it under this Section 4.3 and in all other provisions of this Indenture, until all amounts owing to the Insurer have been paid in full.
Subrogation and Cooperation. 23 Section 4.04. Release of Collateral...............................................................24 ARTICLE V Remedies
Subrogation and Cooperation. 22 4.13. REPAYMENT OF MONIES HELD BY PAYING AGENT................................................. 23 4.14. TEMPORARY NOTES.......................................................................... 23 ARTICLE V DEFAULT AND REMEDIES
Subrogation and Cooperation. 29 Section 4.13 Repayment of Moneys Held by Paying Agent.........................................29 ARTICLE V Remedies..................................................................................30 Section 5.01
Subrogation and Cooperation. 24 Section 4.13 REPAYMENT OF MONIES HELD BY PAYING AGENT..............................................24 Section 4.14 TEMPORARY NOTES.......................................................................25 ARTICLE V
Subrogation and Cooperation. 25 4.13. REPAYMENT OF MONIES HELD BY PAYING AGENT..................................................26 4.14. TEMPORARY BONDS...........................................................................26
Subrogation and Cooperation. 29 SECTION 4.4 Repayment of Moneys Held by Paying Agent...................................................30 SECTION 4.5 Insurer's Rights Regarding Actions, Proceedings or Investigations..........................30