Common use of Subrogation and Cooperation Clause in Contracts

Subrogation and Cooperation. (a) The Issuing Entity and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the Notes, the Credit Enhancer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuing Entity, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the NotesNotes or the Certificates, the Credit Enhancer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuing EntityIssuer, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity a)The Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument Policy on account of principal of or interest on the NotesMortgage Loans, the Credit Enhancer will be fully subrogated to the rights of such Holders the Noteholders to receive such principal of and interest from on the Issuing EntityMortgage Loans, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, including upon the occurrence and continuance of a default under the Insurance Agreement, a request (which request shall be in writing) to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the NotesHome Loans, the Credit Enhancer will be fully subrogated to the rights of such Holders the Noteholders to receive such principal and interest from the Issuing EntityHome Loans, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument Policy on account of principal of or interest on the NotesMortgage Loans, the Credit Enhancer will be fully subrogated to the rights of such Holders the Noteholders to receive such principal of and interest from on the Issuing EntityMortgage Loans, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, including upon the occurrence and continuance of a default under the Insurance Agreement, a request (which request shall be in writing) to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the NotesHome Loans, the Credit Enhancer will be fully subrogated to the rights of such Holders the Noteholders to receive such principal and interest from the Issuing EntityHome Loans, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument Policy on account of principal of or interest on the NotesHome Equity Loans, the Credit Enhancer will be fully subrogated to the rights of such Holders the Noteholders to receive such principal and interest from the Issuing Entity, Home Equity Loans and any other Collateral and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request or direction by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the --------------------------- Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the NotesNotes or the Certificates, the Credit Enhancer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuing EntityIssuer, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer Bond Insurer makes payments under the Credit Enhancement Instrument either Bond Insurance Policy on account of principal of or interest on the NotesBonds, the Credit Enhancer Bond Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuing EntityIssuer, and (ii) the Credit Enhancer Bond Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer Bond Insurer for action to preserve or enforce the Credit EnhancerBond Insurer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders Bondholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer Bond Insurer makes payments under the Credit Enhancement Instrument Bond Insurance Policy on account of principal of or interest on the NotesBonds, the Credit Enhancer Bond Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuing EntityIssuer, and (ii) the Credit Enhancer Bond Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer Bond Insurer for action to preserve or enforce the Credit EnhancerBond Insurer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders Bondholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the Notes, the Credit Enhancer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuing Entity, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's ’s rights or interest under this Indenture or the Insurance Agreement without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer Bond Insurer makes payments under the Credit Enhancement Instrument Bond Insurance Policy on account of principal of or interest on the NotesClass A Bonds, the Credit Enhancer Bond Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuing EntityIssuer, and (ii) the Credit Enhancer Bond Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer Bond Insurer for action to preserve or enforce the Credit EnhancerBond Insurer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders Bondholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge and each Group I Noteholder by the acceptance of its Note agrees that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument Policy on account of principal of or interest on the Group I Notes, the Credit Enhancer will be fully subrogated to the rights of such Holders the Group I Noteholders to receive such principal and interest from the Issuing Entityinterest, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's ’s rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Group I Noteholders as otherwise set forth in the Indenture, including, without limitation, including upon the occurrence and continuance of a default under the Insurance Agreement, a request (which request shall be in writing) to take or cause to be taken any one or more of the following actions:actions (subject to Article VI hereof):

Subrogation and Cooperation. (ai) The Issuing Entity and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the NotesBonds, the Credit Enhancer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuing Entity, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's ’s rights or interest under this Indenture or the Insurance Agreement without limiting the rights of the Noteholders Bondholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument Policy on account of principal of or interest on the NotesMortgage Loans, the Credit Enhancer will be fully subrogated to the rights of such Holders the Noteholders to receive such principal of and interest from on the Issuing EntityMortgage Loans, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, including upon the occurrence and continuance of a default under the Insurance Agreement, a request (which request shall be in writing) to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge and each Senior Noteholder by the acceptance of its Note agrees that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument Policy on account of principal of or interest on the Senior Notes, the Credit Enhancer will be fully subrogated to the rights of such Holders the Senior Noteholders to receive such principal and interest from the Issuing Entityinterest, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's ’s rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Senior Noteholders as otherwise set forth in the Indenture, including, without limitation, including upon the occurrence and continuance of a default under the Insurance Agreement, a request (which request shall be in writing) to take or cause to be taken any one or more of the following actions:actions (subject to Article VI hereof):

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the NotesInstrument, the Credit Enhancer will be fully subrogated to the rights of such Holders the Noteholders to receive such principal and interest from the Issuing EntityOwner Trust Estate, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request (which request shall be in writing) to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the NotesBonds, the Credit Enhancer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuing Entity, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement without limiting the rights of the Noteholders Bondholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge and each Group I Noteholder by the acceptance of its Note agrees that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument Policy on account of principal of or interest on the Group I Notes, the Credit Enhancer will be fully subrogated to the rights of such Holders the Group I Noteholders to receive such principal and interest from the Issuing Entityinterest, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Group I Noteholders as otherwise set forth in the Indenture, including, without limitation, including upon the occurrence and continuance of a default under the Insurance Agreement, a request (which request shall be in writing) to take or cause to be taken any one or more of the following actions:actions (subject to Article VI hereof):

Subrogation and Cooperation. (a) The Issuing Entity and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the NotesNotes or the Certificates, the Credit Enhancer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuing Entity, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuing Entity Issuer and the Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes payments under the Credit Enhancement Instrument on account of principal of or interest on the NotesHome Loans, the Credit Enhancer will be fully subrogated to the rights of such Holders the Noteholders to receive such principal and interest from the Issuing EntityHome Loans, and (ii) the Credit Enhancer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance Agreement for the payment of such principal and interest. The Indenture Trustee shall cooperate in all respects with any reasonable request by the Credit Enhancer for action to preserve or enforce the Credit Enhancer's rights or interest under this Indenture or the Insurance Agreement Agreement, consistent with this Indenture and without limiting the rights of the Noteholders as otherwise set forth in the Indenture, including, without limitation, upon the occurrence and continuance of a default under the Insurance Agreement, a request to take any one or more of the following actions: