Common use of Control by Financial Security Clause in Contracts

Control by Financial Security. So long as no Financial Security Insolvency has occurred and no Financial Security Default has occurred and is continuing, Financial Security shall, upon the occurrence and during the continuation of any of the Servicer Default described in Section 8.01 of the Sale and Servicing Agreement, subject to Article V hereof, have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Collateral Agent hereunder or otherwise or exercising any trust or power conferred upon the Collateral Agent hereunder provided that:

Control by Financial Security. So long as no Financial Security Insurer Insolvency has occurred and no Financial Security Insurer Default has occurred and is continuing, Financial Security shall, upon the occurrence and during the continuation of any of the Servicer Default Defaults described in Section 8.01 of the Sale and Servicing Agreement, subject to Article V hereof, have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Collateral Agent hereunder or otherwise or exercising any trust or power conferred upon the Collateral Agent hereunder provided that:

Control by Financial Security. So long as no Financial Security Insolvency has occurred and no Financial Security Default has occurred and is continuing, Financial Security shall, upon the occurrence and during the continuation of any of the Servicer Default Defaults described in Section 8.01 of the Sale and Servicing Agreement, subject to Article V hereof, have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Collateral Agent hereunder or otherwise or exercising any trust or power conferred upon the Collateral Agent hereunder provided that: