Common use of Prior Notice to Holders with Respect to Certain Matters Clause in Contracts

Prior Notice to Holders with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action, and the Certificateholders shall not direct the Owner Trustee to take any action, unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholders and the Bond Insurer in writing of the proposed action and neither the Certificateholders nor the Bond Insurer shall have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Certificateholders and/or the Bond Insurer have withheld consent or the Certificateholders have provided alternative direction (any direction by the Certificateholders shall require the prior consent of the Bond Insurer):

Appears in 3 contracts

Samples: Deposit Trust Agreement (Residential Resources Inc), Deposit Trust Agreement (Union Planters Mortgage Finance Corp), Deposit Trust Agreement (Fund America Investors Corp Ii)

AutoNDA by SimpleDocs

Prior Notice to Holders with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action, and the Certificateholders shall not direct the Owner Trustee to take any action, action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholders Certificateholders, the Indenture Trustee and the Bond Insurer in writing of the proposed action and neither (i) the Insurer shall have consented in writing thereto and (ii) the Certificateholders nor the Bond Insurer shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Certificateholders and/or the Bond Insurer have withheld consent or or, with the Certificateholders have provided alternative direction (any direction by the Certificateholders shall require the prior written consent of the Bond Insurer):, provided alternative direction:

Appears in 1 contract

Samples: Trust Agreement (J P Morgan Acceptance Corp I)

AutoNDA by SimpleDocs

Prior Notice to Holders with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action, and the Certificateholders shall not direct the Owner Trustee to take any action, action unless (i) at least 30 thirty (30) days before the taking of such action, the Owner Trustee shall have notified the Certificateholders and (unless the Bond Insurer Certificateholders have directed the Owner Trustee to take action) in writing of the proposed action and neither the Certificateholders nor evidencing not less than a majority of the Bond Insurer Percentage Interest of the Certificates shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Certificateholders and/or the Bond Insurer have withheld consent or the Certificateholders have provided alternative written direction and (any direction by ii) the Certificateholders Note Purchaser shall require the have given its prior consent of the Bond Insurer):written consent:

Appears in 1 contract

Samples: Trust Agreement (American Business Financial Services Inc /De/)

Time is Money Join Law Insider Premium to draft better contracts faster.