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

Prior Notice with Respect to Certain Matters. With respect to the following matters, the Trust shall not take action unless (a) at least thirty (30) days before the taking of such action, the Owner Trustee shall have notified the Insurer and the Rating Agencies in writing of the proposed action and (b) the Insurer, if an Insurer Default shall not have occurred and be continuing, shall have previously consented in writing thereto and the Depositor shall not have (i) notified the Owner Trustee in writing prior to the 30th day after such notice is given that it has withheld consent or (ii) provided alternative written direction prior to the 30th day after such notice is given:

Prior Notice with Respect to Certain Matters. With respect to the following matters, the Trust shall not take action unless (ai) at least thirty (30) days before the taking of such action, the Owner Trustee shall have notified the Insurer and the Rating Agencies in writing of the proposed action and (bii) the Insurer, if an Insurer Default shall not have occurred and be continuing, shall have previously consented in writing thereto and the Depositor shall not have (iA) notified the Owner Trustee in writing prior to the 30th day after such notice is given that it has withheld consent or (iiB) provided alternative written direction prior to the 30th day after such notice is given: