Common use of Limitation on Amendments Clause in Contracts

Limitation on Amendments. Notwithstanding Section 10.1 or Section 10.3 hereof, the Owner Trustee shall not, without the consent of the Indenture Trustee, amend Section 8.1 of this Deposit Trust Agreement, or execute any amendment that might result in the Trust being terminated prior to the satisfaction and discharge of the Lien of the Indenture on the Trust Estate or otherwise have a material adverse effect on the Bondholders prior to the payment in full of the principal of and interest on the Bonds. Furthermore, notwithstanding Section 10.1 or Section 10.3 hereof, the Owner Trustee shall not execute any amendment without obtaining written confirmation from each Rating Agency that such amendment will not result in the qualification, downgrade or withdrawal of any then-current rating on the Bonds.

Appears in 4 contracts

Samples: Deposit Trust Agreement (Criimi Mae CMBS Corp), Deposit Trust Agreement (Imperial Credit Commercial Mortgage Acceptance Corp), Deposit Trust Agreement (Criimi Mae Inc)

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Limitation on Amendments. Notwithstanding Section 10.1 or Section 10.3 hereof, the Owner Trustee shall not, without the consent of the Indenture Trustee, amend Section 8.1 of this Deposit Trust Agreement, or execute any amendment that might that, to the actual knowledge of a Responsible Officer of the Owner Trustee, will result in the Trust being terminated prior to the satisfaction and discharge of the Lien of the Indenture on the Trust Estate or otherwise have a material adverse effect on the Bondholders prior to the payment in full of the principal of and interest on the BondsEstate. Furthermore, notwithstanding Section 10.1 or Section 10.3 hereof, so long as the Notes remain outstanding, the Owner Trustee shall not execute any amendment without obtaining receiving written confirmation from each of the Rating Agency Agencies that such amendment will not result in the qualification, downgrade or withdrawal of any then-current rating on the BondsNotes, as obtained by the party seeking such amendment.

Appears in 1 contract

Samples: Deposit Trust Agreement (Indymac Abs Inc)

Limitation on Amendments. Notwithstanding Section 10.1 or and Section 10.3 hereof, the Owner Trustee shall not, without the consent of the Indenture Trustee, amend Section 8.1 of this Deposit Trust Agreement, or execute any amendment that might result in the Owner Trust being terminated prior to the satisfaction and discharge of the Lien of the Indenture on the Trust Estate or otherwise have a material adverse effect on the Bondholders prior to the payment in full of the principal of and interest on the Bonds. Furthermore, notwithstanding Section 10.1 or and Section 10.3 hereof, the Owner Trustee shall not execute any amendment without obtaining written confirmation from each the Rating Agency Agencies that such amendment will not result in the qualification, downgrade or withdrawal of any of the then-current rating ratings on the Bonds.

Appears in 1 contract

Samples: Trust Agreement (Imh Assets Corp Impac CMB Trust 1998 C1 Col Mor Bond 1998 C1)

Limitation on Amendments. Notwithstanding Section 10.1 or Section 10.3 hereof, the Owner Trustee shall not, without the consent of the Indenture Trustee, amend Section 8.1 of this Deposit Trust Agreement, or execute any amendment that might result in the Trust being terminated prior to the satisfaction and discharge of the Lien of the Indenture on the Trust Estate or otherwise have a material adverse effect on the Bondholders prior to the payment in full of the principal of and interest on the Bonds. Furthermore, notwithstanding Section 10.1 or Section 10.3 hereof, the Owner Trustee shall not execute any amendment without obtaining written confirmation from each the Rating Agency that such amendment will not result in the qualification, downgrade or withdrawal of any then-current rating on the Bonds.

Appears in 1 contract

Samples: Deposit Trust Agreement (Criimi Mae Inc)

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Limitation on Amendments. Notwithstanding Section 10.1 or Section 10.3 hereof, the Owner Trustee shall not, without the consent of the Indenture Trustee, amend Section 8.1 of this Deposit Trust Agreement, or execute any amendment that might result in the Trust being terminated prior to the satisfaction and discharge of the Lien of the Indenture on the Trust Estate or otherwise have a material adverse effect on the Bondholders Noteholders prior to the payment in full of the principal of and interest on the BondsNotes. Furthermore, notwithstanding Section 10.1 or Section 10.3 hereof, the Owner Trustee shall not execute any amendment without obtaining written confirmation from each the Rating Agency that such amendment will not result in the qualification, downgrade or withdrawal of any then-current rating on the BondsNotes.

Appears in 1 contract

Samples: Trust Agreement (Commercial Assets Inc)

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