Common use of Amendment Relating to Transfers to Disqualified Organizations Clause in Contracts

Amendment Relating to Transfers to Disqualified Organizations. Xxxxxx Xxx and the Trustee may, without the consent of any I-REMIC Interest Holders, upon notice to the I-REMIC Interest Holder of the Residual Interest for an I-REMIC, notwithstanding any provisions hereof to the contrary, amend this Trust Agreement in such manner as Xxxxxx Xxx may direct; provided, however, that any such amendment will be limited to such matters as, in the judgment of Xxxxxx Xxx, based upon the written advice of its tax counsel, are reasonably necessary (i) to ensure that the record ownership of, or any beneficial interest in, any Residual Interest is not transferred, directly or indirectly, to a Disqualified Organization and (ii) to provide for a means to compel the transfer of any Residual Interest that is held by a Disqualified Organization to an I-REMIC Interest Holder that is not a Disqualified Organization.

Amendment Relating to Transfers to Disqualified Organizations. Xxxxxx Xxx Mae and the Trustee may, without the consent of any I-REMIC Interest Holders, upon notice to the I-REMIC Interest Holder of the Residual Interest for an I-REMIC, notwithstanding any provisions hereof to the contrary, amend this Trust Agreement in such manner as Xxxxxx Xxx may direct; provided, however, that any such amendment will be limited to such matters as, in the judgment of Xxxxxx XxxMae, based upon the written advice of its tax counsel, are reasonably necessary (i) to ensure that the record ownership of, or any beneficial interest in, any Residual Interest is not transferred, directly or indirectly, to a Disqualified Organization and (ii) to provide for a means to compel the transfer of any Residual Interest that is held by a Disqualified Organization to an I-REMIC Interest Holder that is not a Disqualified Organization.