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

Action by Trustee with Respect to Certain Matters. The Trustee shall not have the power, except upon the authority of a written direction signed by all of the Certificateholders or as expressly provided in the Basic Documents, or except in connection with the pledge and delivery, if any, of the Trust Assets and any proceeds thereof to the Indenture Trustee pursuant to the terms of the Indenture, to (a) sell or dispose of the Underlying Securities or any other Trust Assets or any interest therein, (b) assign or terminate the Swap Agreement, any Related Agreement or any Credit Enhancement Agreement; or (c) agree to any amendment, modification or supplement to the Underlying Securities, or any other Trust Assets, the Swap Agreement, any Related Agreement or any Credit Enhancement Agreement, provided the Rating Agency Condition is satisfied. The Trustee shall provide notice to the Rating Agency after the occurrence of any event described in item (a), (b) or (c) in the preceding sentence.

Appears in 3 contracts

Samples: Series Trust Agreement (Corporate Asset Backed Corp), Series Trust Agreement (Corporate Asset Backed Corp), Series Trust Agreement (Corporate Asset Backed Corp)

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Action by Trustee with Respect to Certain Matters. The Trustee shall not have the power, except upon the authority of a written direction signed by all of the Certificateholders or as expressly provided in the Basic Documents, or except in connection with the pledge and delivery, if any, of the Trust Assets and any proceeds thereof to the Indenture Trustee pursuant to the terms of the Indenture, to (a) sell or dispose of the Underlying Securities or any other Trust Assets or any interest therein, (b) assign or terminate the Swap Agreement, any Related Agreement or any Credit Enhancement EXHIBIT 4.3 Agreement; or (c) agree to any amendment, modification or supplement to the Underlying Securities, or any other Trust Assets, the Swap Agreement, any Related Agreement or any Credit Enhancement Agreement, provided the Rating Agency Condition is satisfied. The Trustee shall provide notice to the Rating Agency after the occurrence of any event described in item (a), (b) or (c) in the preceding sentence.

Appears in 1 contract

Samples: Series Trust Agreement (Corporate Asset Backed Corp)

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