Common use of Action by Owners with Respect to Certain Matters Clause in Contracts

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and the Note Insurer], to (a) remove the Administrator under the Administration Agreement pursuant to Section [8] thereof, (b) appoint a successor Administrator pursuant to Section [8] of the Administration Agreement, or (c) remove the Servicer under the Servicing Agreement pursuant to Section [ ] thereof, or (d) except as expressly provided in the Basic Documents, sell the Mortgage Loans 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 Owners [and the Note Insurer], but only to the extent expressly permitted in the Basic Documents.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the Note consent of the Securities Insurer or upon the direction of the Securities Insurer], to (a) remove the Administrator under the Administration Agreement pursuant to Section [8] 9 thereof, (b) appoint a successor Administrator pursuant to Section [8] 9 of the Administration Agreement, or (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section [ ] thereof, 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Home Loans 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 Owners [and and, so long as no Securities Insurer Default exists, only after obtaining the Note consent of the Securities Insurer], but only to the extent expressly permitted in the Basic Documents.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and the Note Insurer]Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section [8] 8 thereof, (b) appoint a successor Administrator pursuant to Section [8] 8 of the Administration Agreement, or (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section [ ] thereof, 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Home Loans after the termination of the Indenture, provided that so long as the Indenture remains in effect, neither the Owner Trustee nor any Certificateholder shall have the power to take, and shall not take, any such action with respect to the Trust or the Company. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and the Note Insurer], but only to the extent expressly permitted in the Basic DocumentsOwners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the Note consent of the Securities Insurer or upon the direction of the Securities Insurer], ,] to (a) remove the Administrator under the Administration Agreement pursuant to Section [8] 9 thereof, (b) appoint a successor Administrator pursuant to Section [8] 9 of the Administration Agreement, or (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section [ ] thereof, 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Loans 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 Owners [and and, so long as no Securities Insurer Default exists, only after obtaining the Note consent of the Securities Insurer.], but only to the extent expressly permitted in the Basic Documents.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and the Note consent of the [Securities Insurer], ,] to (a) remove the Administrator under the Administration Agreement pursuant to Section [8] 8 thereof, (b) appoint a successor Administrator pursuant to Section [8] 8 of the Administration Agreement, or (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section [ ] thereof, 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Home Loans 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 Owners and only after obtaining the consent of the [and the Note Securities Insurer], but only to the extent expressly permitted in the Basic Documents.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and the Note Insurer], to (a) remove the Administrator under the Administration Agreement pursuant to Section [8] thereof, (b) appoint a successor Administrator pursuant to Section [8] of the Administration Agreement, or (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section [ [7.01] thereof, or (d) except as expressly provided in the Basic Documents, sell the Mortgage Loans 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 Owners [and the Note Insurer], but only to the extent expressly permitted in the Basic Documents.

Action by Owners with Respect to Certain Matters. The ------------------------------------------------ Owner Trustee shall not have the power, except upon the direction of the Owners [and the Note Insurer]Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section [8] ( ) thereof, (b) appoint a successor Administrator pursuant to Section [8] ( ) of the Administration Agreement, or (c) remove the Master Servicer under the Master Servicing Agreement pursuant to Section [ ] thereof, ( ) thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Loans 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 Owners [and the Note Insurer], but only to the extent expressly permitted in the Basic DocumentsOwners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the Note consent of the Securities Insurer or upon the direction of the Securities Insurer], to (a) remove the Administrator under the Administration Agreement pursuant to Section [8] 9 thereof, (b) appoint a successor Administrator pursuant to Section [8] 9 of the Administration Agreement, or (c) remove the Master Servicer under the Servicing Agreement Indenture pursuant to Section [ ] thereof, thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Loans Assets 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 Owners [and and, so long as no Securities Insurer Default exists, only after obtaining the Note consent of the Securities Insurer], but only to the extent expressly permitted in the Basic Documents.

Action by Owners with Respect to Certain Matters. The ------------------------------------------------ Owner Trustee shall not have the power, except upon the direction of the Owners [and the Note Insurer]Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section [8] ( ) thereof, (b) appoint a successor Administrator ---- pursuant to Section [8] ( ) of the Administration Agreement, or (c) remove the --- Master Servicer under the Master Servicing Agreement pursuant to Section [ ] thereof, ( ) --- thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Loans 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 Owners [and the Note Insurer], but only to the extent expressly permitted in the Basic DocumentsOwners.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the Note consent of the Securities Insurer or upon the direction of the Securities Insurer], to (a) remove the Administrator under the Administration Agreement pursuant to Section [8] 8 thereof, (b) appoint a successor Administrator pursuant to Section [8] 8 of the Administration Agreement, or (c) remove the Servicer or the Master Servicer under the Sale and Servicing Agreement pursuant to Section [ ] thereof, 10.01 thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Loans Grantor Trust Certificate 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 Owners [and only after obtaining the Note consent of the Securities Insurer], but only to the extent expressly permitted in the Basic Documents.

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and the Note Insurer]Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section [8_____ ] thereof, (b) appoint a successor Administrator pursuant to Section [8_____] of the Administration Agreement, or (c) remove the Servicer under the Master Servicing Agreement pursuant to Section [ [_____] thereof, thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Loans 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 Owners [and the Note Insurer], but only to the extent expressly permitted in the Basic DocumentsOwners.

Action by Owners with Respect to Certain Matters. The Owner ------------------------------------------------ Trustee shall not have the power, except upon the direction of the Owners [and the Note Insurer]Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section [8[ ] thereof, (b) appoint a successor Administrator pursuant to Section [8- [ ] of the Administration Agreement, or (c) remove the Master Servicer under the - Master Servicing Agreement pursuant to Section [ ] thereof, thereof or (d) except as - expressly provided in the Basic Documents, sell the Mortgage Loans 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 Owners [and the Note Insurer], but only to the extent expressly permitted in the Basic DocumentsOwners.

Action by Owners with Respect to Certain Matters. The Owner ------------------------------------------------ Trustee shall not have the power, except upon the direction of the Owners [and the Note Insurer]Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section [8_] thereof, (b) appoint a successor Administrator pursuant to Section [8_] of the Administration Agreement, or (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section [ [_] thereof, thereof or (d) except as expressly provided in the Basic Documents, sell the Mortgage Loans 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 Owners [and the Note Insurer], but only to the extent expressly permitted in the Basic DocumentsOwners.