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

Prior Notice to the Certificateholders with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholders and the Insurer (so long as the Notes are Outstanding or any Reimbursement Amounts remain due and owing to the Insurer) in writing of the proposed action and the Certificateholders shall have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Certificateholder and the Insurer (so long as the Notes are Outstanding or any Reimbursement Amounts remain due and owing to the Insurer) has consented to such action or provided alternative direction:

Prior Notice to the Certificateholders with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholders and the Insurer (so long as the Class A Notes are Outstanding or any Reimbursement Amounts remain due and owing to the Insurer) in writing of the proposed action and the Certificateholders shall have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Certificateholder and the Insurer (so long as the Class A Notes are Outstanding or any Reimbursement Amounts remain due and owing to the Insurer) has consented to such action or provided alternative direction: