Common use of ACTION UNDER UNDERLYING DOCUMENTS Clause in Contracts

ACTION UNDER UNDERLYING DOCUMENTS. IN THE EVENT THAT THERE ARE ANY MATTERS ARISING UNDER THE UNDERLYING POOLING AND SERVICING AGREEMENT RELATED TO AN UNDERLYING CERTIFICATE WHICH REQUIRE THE VOTE OR DIRECTION OF HOLDERS OF THE UNDERLYING CERTIFICATES THEREUNDER, THE GRANTOR TRUSTEE, AS HOLDER OF THE UNDERLYING CERTIFICATES WILL VOTE SUCH UNDERLYING CERTIFICATE IN ACCORDANCE WITH THE WRITTEN INSTRUCTIONS RECEIVED FROM HOLDERS OF THE RELATED CERTIFICATES EVIDENCING AT LEAST 51% OF THE FRACTIONAL UNDIVIDED INTEREST OF THE RELATED CLASS OF CERTIFICATES. IN THE ABSENCE OF ANY SUCH INSTRUCTIONS, THE GRANTOR TRUSTEE WILL NOT VOTE SUCH UNDERLYING CERTIFICATES. Upon written request, the Grantor Trustee will forward to the Certificateholders copies of any communications received regarding matters arising that require action by holders of the Underlying Certificates.

ACTION UNDER UNDERLYING DOCUMENTS. IN THE EVENT THAT THERE ARE ANY MATTERS ARISING UNDER THE UNDERLYING POOLING AND SERVICING AGREEMENT RELATED TO AN UNDERLYING CERTIFICATE WHICH REQUIRE THE VOTE OR DIRECTION OF HOLDERS OF THE UNDERLYING CERTIFICATES THEREUNDER, THE GRANTOR TRUSTEE, AS HOLDER OF THE UNDERLYING CERTIFICATES WILL VOTE SUCH UNDERLYING CERTIFICATE IN ACCORDANCE WITH THE WRITTEN INSTRUCTIONS RECEIVED FROM HOLDERS OF THE RELATED CERTIFICATES EVIDENCING AT LEAST 51% OF THE FRACTIONAL UNDIVIDED INTEREST OF THE RELATED CLASS OF CERTIFICATES. IN THE ABSENCE OF ANY SUCH INSTRUCTIONS, THE GRANTOR TRUSTEE WILL NOT VOTE SUCH UNDERLYING CERTIFICATES. Upon written request, the Grantor Trustee will forward to the Certificateholders copies of any communications received regarding matters arising that require action by holders of the Underlying Certificates.