Common use of Resignation or Removal of Credit Risk Manager Clause in Contracts

Resignation or Removal of Credit Risk Manager. The Credit Risk Manager may resign upon ninety (90) days’ prior written notice to the Trustee and the Depositor. If the Credit Risk Manager is no longer able to perform its duties hereunder, the Credit Risk Manager may be terminated by the Depositor at the direction of Certificateholders evidencing not less than 66 2/3% of the Voting Rights. The Depositor may, at its option, cause the appointment of a successor Credit Risk Manager. Upon any termination of the Credit Risk Manager or the appointment of a successor Credit Risk Manager, the Depositor shall give written notice thereof to the related Servicer, the Master Servicer, the Trust Administrator, the Trustee, each Rating Agency and the Credit Risk Manager. Notwithstanding the foregoing, the termination of the Credit Risk Manager pursuant to this Section 3.27 shall not become effective until the appointment of a successor Credit Risk Manager.

Resignation or Removal of Credit Risk Manager. The Credit Risk Manager may resign upon ninety (90) days’ prior written notice to the Trustee Trustee, the Trust Administrator and the Depositor. If the Credit Risk Manager is no longer able to perform its duties hereunder, the Credit Risk Manager may be terminated by the Depositor at the direction of Certificateholders evidencing not less than 66 2/3% of the Voting Rights. The Depositor may, at its option, cause the appointment of a successor Credit Risk Manager. Upon any termination of the Credit Risk Manager or the appointment of a successor Credit Risk Manager, the Depositor shall give written notice thereof to the related Servicer, the Master Servicer, the Trust Administrator, the Trustee, each Rating Agency and the Credit Risk Manager. Notwithstanding the foregoing, the termination of the Credit Risk Manager pursuant to this Section 3.27 3.28 shall not become effective until the appointment of a successor Credit Risk Manager.

Resignation or Removal of Credit Risk Manager. The Credit Risk Manager may resign upon ninety (90) days’ prior written notice to the Trustee Trustee, the Trust Administrator and the Depositor. If the Credit Risk Manager is no longer able to perform its duties hereunder, the Credit Risk Manager may be terminated by the Depositor at the direction of Certificateholders evidencing not less than 66 2/3% of the Voting Rights. The Depositor may, at its option, cause the appointment of a successor Credit Risk Manager. Upon any termination of the Credit Risk Manager or the appointment of a successor Credit Risk Manager, the Depositor shall give written notice thereof to the related Servicer, the Master Servicer, the Trust Administrator, the Trustee, each Rating Agency and the Credit Risk Manager. Notwithstanding the foregoing, the termination of the Credit Risk Manager pursuant to this Section 3.27 3.28 shall not become effective until the appointment of a successor Credit Risk Manager.

Resignation or Removal of Credit Risk Manager. The Credit Risk Manager may resign upon ninety (90) days’ prior written notice to the Trustee and the Depositor. If the Credit Risk Manager is no longer able to perform its duties hereunder, the Credit Risk Manager may be terminated by the Depositor at the direction of Certificateholders evidencing not less than 66 2/3% of the Voting Rights. The Depositor may, at its option, cause the appointment of a successor Credit Risk Manager. Upon any termination of the Credit Risk Manager or the appointment of a successor Credit Risk Manager, the Depositor shall give written notice thereof to the related Servicer, the Master Servicer, the Trust Administrator, the Trustee, each Rating Agency and the Credit Risk Manager. Notwithstanding the foregoing, the termination of the Credit Risk Manager pursuant to this Section 3.27 3.28 shall not become effective until the appointment of a successor Credit Risk Manager.