Certain Matters Regarding the Insurer. So long as an Insurer Default shall not have occurred and be continuing, the Insurer shall have the right to exercise all rights, including voting rights, which the Noteholders, Certificateholders or Residual Interestholders are entitled to exercise pursuant to this Agreement, without any consent of such Noteholders, Certificateholders or Residual Interestholders; provided, however, that without the consent of each Noteholder, Certificateholder or Residual Interestholder affected thereby, the Insurer shall not exercise such rights to amend this Agreement in any manner that would (i) reduce the amount of, or delay the timing of, collections of payments on the Contracts or distributions which are required to be made on any Note, Certificate or Residual Interest Instrument, (ii) adversely affect in any material respect the interests of the Holders of any Notes, Certificates or Residual Interest Instruments, or (iii) alter the rights of any such Holder to consent to such amendment. Notwithstanding any provision in this Agreement to the contrary, in the event an Insurer Default shall have occurred and be continuing, the Insurer shall not have the right to take any action under this Agreement or to control or direct the actions of the Trust, the Depositor, the Owner Trustee or the Trust Agent pursuant to the terms of this Agreement, nor shall the consent of the Insurer be required with respect to any action (or waiver of a right to take action) to be taken by the Trust, the Depositor, the Owner Trustee, the Trust Agent or the Holders of the Notes, the Certificates, or the Residual Interest Instruments; provided, that the consent of the Insurer shall be required at all times with respect to any amendment of this Agreement.
Certain Matters Regarding the Insurer. So long as an Insurer Default shall not have occurred and be continuing, the Insurer shall have the right to exercise all rights, including voting rights, which the Noteholders or Owners are entitled to exercise pursuant to this Agreement, without any consent of such Noteholders or Owners; provided, however, that without the consent of each Noteholder or Owner affected thereby, the Insurer shall not exercise such rights to amend this Agreement in any manner that would (i) reduce the amount of, or delay the timing of, collections of payments on the Contracts or distributions which are required to be made on any Note or Residual Interest Instrument, (ii) adversely affect in any material respect the interests of the Owners of any Notes or Residual Interest Instruments, or (iii) alter the rights of any such Owner to consent to such amendment. Notwithstanding any provision in this Agreement (except Section 4.06) to the contrary, in the event an Insurer Default shall have occurred and be continuing, the Insurer shall not have the right to take any action under this Agreement or to control or direct the actions of the Trust, the Depositor, the Owner Trustee or the Trust Agent pursuant to the terms of this Agreement, nor shall the consent of the Insurer be required with respect to any action (or waiver of a right to take action) to be taken by the Trust, the Depositor, the Owner Trustee, the Trust Agent or the Owners of the Notes or the Residual Interest Instruments; provided, that the consent of the Insurer shall be required at all times with respect to any amendment of this Agreement; and provided further, that notwithstanding the foregoing, each of the provisions in Section 4.06(a) of this Agreement shall continue to be effective notwithstanding that an Insurer Default may have occurred and be continuing.
Certain Matters Regarding the Insurer. Notwithstanding any provision in this Agreement to the contrary, in the event an Insurer Default (as defined in the Sale and Servicing Agreement) shall have occurred and be continuing, the Insurer shall not have the right to take any action under this Agreement or to control or direct the actions of the Issuer, the Administrator, the Indenture Trustee, the Seller or the Owner Trustee pursuant to the terms of this Agreement, nor shall the consent of the Insurer be required with respect to any action (or waiver of right to take action) to be taken by the Issuer, the Administrator, the Indenture Trustee, the Seller, the Owner Trustee or the holders of the Notes; provided that the consent of the Insurer shall be required at all times with respect to any amendment of this Agreement.
Certain Matters Regarding the Insurer. Notwithstanding any provision in this Agreement to the contrary, in the event an Insurer Default (as defined in the Sale and Servicing Agreement) shall have occurred and be continuing, the Insurer shall not have the right to take any action under this Agreement or to control or direct the actions of the Issuer, the Administrator, the Indenture Trustee, the Seller or the Owner Trustee pursuant to the terms of this Agreement, nor shall the consent of the Insurer be required with respect to any action (or waiver of right to take action) to be taken by the Issuer, the Administrator, the Indenture Trustee, the Seller, the Owner Trustee or the Holders of the Notes; provided that the consent of the Insurer shall be required at all times (which consent, so long as an Insurer Default has occurred and is continuing, shall not be unreasonably withheld) with respect to any amendment of this Agreement.
Certain Matters Regarding the Insurer. (a) So long as an Insurer Default shall not have occurred and be continuing, the Insurer shall have the right to exercise all rights (other than to receive payments), including voting rights, which the Noteholders or Certificateholders are entitled to exercise pursuant to this Indenture, without any consent of such Noteholders or Certificateholders; provided, however, that without the consent of each Noteholder and Certificateholder affected thereby, the Insurer shall not exercise such rights to amend this Indenture in any manner that would (i) reduce the amount of, or delay the timing of, collections of payments on the Receivables or distributions which are required to be made on any Note or Certificate, (ii) adversely affect in any material respect the interests of the Holders of any Notes or Certificates Instruments, or (iii) alter the rights of any such Holder to consent to such amendment.
Certain Matters Regarding the Insurer. Section 12.01.
Certain Matters Regarding the Insurer. 51 SECTION 11.1. Rights of the Insurer to Exercise Rights of Class A Noteholders..............................51
Certain Matters Regarding the Insurer. Section 12.01 Rights of the Insurer to Exercise the Rights of the Class A-1 Notes
Certain Matters Regarding the Insurer. SECTION 9.01. RIGHTS OF THE INSURER TO EXERCISE RIGHTS OF CLASS A NOTEHOLDERS...................................................53 SECTION 9.02. INDENTURE TRUSTEE TO ACT SOLELY WITH CONSENT OF THE INSURER...54 SECTION 9.03. TRUST PROPERTY AND ACCOUNTS HELD FOR BENEFIT OF THE INSURER...54 SECTION 9.04.
Certain Matters Regarding the Insurer. So long as the Insurer is the Controlling Party, the Insurer shall have the right to exercise all rights (other than to receive payments), including voting rights, which the Noteholders or Certificateholders are entitled to exercise pursuant to this Indenture, without any consent of such Noteholders or Certificateholders; provided, however, that without the consent of each Noteholder and Certificateholder affected thereby, the Insurer shall not exercise such rights to amend this Indenture in any manner that would (i) reduce the amount of, or delay the timing of, collections of payments on the Receivables or distributions which are required to be made on any Note or 80 Indenture Certificate, (ii) adversely affect in any material respect the interests of the Holders of any Notes or Certificates, or (iii) alter the rights of any such Holder to consent to such amendment.
