Prior Notice to Holder with Respect to Certain Matters Sample Clauses

Prior Notice to Holder with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholder in writing of the proposed action and the Certificateholder shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that the Certificateholder has withheld consent or provided alternative direction:
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Prior Notice to Holder with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action, on behalf of the Trust or otherwise, unless (i) at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholder and, unless an Insurer Default shall have occurred and be continuing, the Security Insurer in writing of the proposed action and the Certificateholder and the Security Insurer shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that the Certificateholder and the Security Insurer, if applicable, have withheld consent or provided alternative direction and (ii) with respect to the action described in subclause (a) below, the Owner Trustee shall have obtained the prior written consent of the Security Insurer, which consent shall not be unreasonably withheld:

Related to Prior Notice to Holder with Respect to Certain Matters

  • Action by Certificateholder with Respect to Certain Matters The Owner Trustee shall not have the power, except upon the direction of the Certificateholder in accordance with the Basic Documents, to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 9.2 thereof or (b) except as expressly provided in the Basic Documents, sell the Receivables after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Certificateholder and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholder.

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