Common use of Rights of Insurer Clause in Contracts

Rights of Insurer. Notwithstanding anything to the contrary in the Basic Documents, for so long as any Notes are Outstanding under the Indenture, without the prior written consent of the Insurer (so long as no Insurer Default shall have occurred and be continuing), the Owner Trustee shall not (i) remove the Servicer, (ii) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, other than with respect to the enforcement of any Receivable or any rights of the Trust thereunder, (iii) authorize the merger or consolidation of the Trust with or into any other business trust or other entity (other than in accordance with Section 3.10 of the Indenture) or (iv) amend the Certificate of Trust.

Rights of Insurer. Notwithstanding anything to the ----------------- contrary in the Basic Documents, for so long as any Notes are Outstanding under the Indenture, without the prior written consent of the Insurer (so long as no Insurer Default shall have occurred and be continuing), the Owner Trustee shall not (i) remove the Servicer, (ii) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, other than with respect to the enforcement of any Receivable or any rights of the Trust thereunder, (iii) authorize the merger or consolidation of the Trust with or into any other business trust or other entity (other than in accordance with Section 3.10 of the Indenture) or (iv) amend the Certificate of Trust.

Rights of Insurer. Notwithstanding anything to the contrary in the Basic Documents, for so long as any Notes are Outstanding under the Indenture, without the prior written consent of the Insurer (so long as no or if an Insurer Default shall have occurred and be continuing), the Security Majority, the Owner Trustee shall not (i) remove the Servicer, the Backup Servicer, or any Sub-Servicer, (ii) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, other than with respect to the enforcement of any Receivable or any rights of the Trust thereunder, (iii) authorize the merger or consolidation of the Trust with or into any other business trust or other entity (other than in accordance with Section 3.10 of the Indenture) or ), (iv) amend the Certificate of Trust, or (v) amend this Agreement in accordance with Section 11.1 of this Agreement.

Rights of Insurer. Notwithstanding anything to the contrary in the Basic Documents, for so long as any Notes are Outstanding under the Indenture, without the prior written consent of the Insurer (so long as no or if an Insurer Default shall have occurred and be continuing), the Security Majority, the Owner Trustee shall not (i) remove the Servicer, the Backup Servicer, or any Sub-Servicer, (ii) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, other than with respect to the enforcement of any Receivable or any rights of the Trust thereunder, (iii) authorize the merger or consolidation of the Trust with or into any other business trust or other entity (other than in accordance with Section 3.10 of the Indenture) or ), (iv) amend the Certificate of Trust.Trust or (v) amend this Agreement in accordance with Section 11.1 of this Agreement. 16

Rights of Insurer. Notwithstanding anything to the contrary in the Basic Operative Documents, for so long as any Notes are Outstanding under the Indenture, without the prior written consent of the Insurer (so long as no or if an Insurer Default shall have occurred and be is continuing), the prior written consent of the Security Majority) the Owner Trustee shall not (i) remove the Servicer, other than in accordance with Section 4.2, (ii) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, other than with respect to the enforcement of any Receivable Mortgage Loan or any rights of the Trust thereunder, (iii) authorize the merger or consolidation of the Trust with or into any other business trust or other entity (other than in accordance with Section 3.10 of the Indenture) or ), (iv) amend the Certificate of TrustTrust or (v) amend this Agreement in accordance with Section 11.1 of this Agreement.

Rights of Insurer. Notwithstanding anything to the contrary in the Basic Documents, for so long as any Notes are Outstanding under the Indenture, without the prior written consent of the Insurer (so long as no or if an Insurer Default shall have occurred and be continuing), the Security Majority, the Owner Trustee shall not (i) remove the Servicer, the Backup Servicer, or any Sub-Servicer, (ii) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, other than with respect to the enforcement of any Receivable or any rights of the Trust thereunder, (iii) authorize the merger or consolidation of the Trust with or into any other business trust or other entity (other than in accordance with Section 3.10 of the Indenture) or ), (iv) amend the Certificate of TrustTrust or (v) amend this Agreement in accordance with Section 11.1 of this Agreement.

Rights of Insurer. Notwithstanding anything to the contrary ----------------- in the Basic Documents, for so long as any Notes are Outstanding under the Indenture, without the prior written consent of the Insurer (so long as no Insurer Default shall have occurred and be continuing), the Owner Trustee shall not (i) remove the Servicer, (ii) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the Trust, other than with respect to the enforcement of any Receivable or any rights of the Trust thereunder, (iii) authorize the merger or consolidation of the Trust with or into any other business trust or other entity (other than in accordance with Section 3.10 of the Indenture) or (iv) amend the Certificate of Trust.