Common use of Subrogation and Cooperation Clause in Contracts

Subrogation and Cooperation. (a) The Issuer and the Indenture Trustee acknowledge that (i) to the extent the Bond Insurer makes payments under the Bond Insurance Policy on account of principal of or interest on the Class A Bonds, the Bond Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuer, and (ii) the 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, so long as it is indemnified to its satisfaction, cooperate in all respects with any reasonable written request by the Bond Insurer (unless a Bond Insurer Default exists) for action to preserve or enforce the Bond Insurer's rights or interest under this Indenture or the Insurance Agreement, consistent with this Indenture and without limiting the rights of the 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 Issuer and the Indenture Trustee acknowledge that (i) to the extent the Bond Insurer makes payments under the Bond Insurance Policy on account of principal of or interest on the Class A BondsMortgage Loans, the Bond Insurer will be fully subrogated to the rights of such Holders the Noteholders to receive such principal of and interest from on the IssuerMortgage Loans of the related Trust Estate, and (ii) the Bond Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein and in the Insurance and Reimbursement Agreement for the payment of such principal and interest. The Indenture Trustee shall, so long as it is indemnified to its satisfaction, shall cooperate in all respects with any reasonable written request or direction by the Bond Insurer (unless a Bond Insurer Default exists) for action to preserve or enforce the Bond Insurer's rights or interest under this Indenture or the Insurance and Reimbursement Agreement, consistent with this Indenture and without limiting the rights of the Bondholders Noteholders as otherwise set forth in the Indenture, including, including without limitation, limitation upon the occurrence and continuance of a default under the Insurance Agreementan Insurer Default, a request to take any one or more of the following actions:

Subrogation and Cooperation. (a) The Issuer and the Indenture Trustee acknowledge that (i) to the extent the Bond Insurer makes payments under the Bond Insurance Policy on account of principal of or interest on the Class A 1-A-1 Bonds and Class 2-A-1 Bonds, the Bond Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuer, and (ii) the 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, so long as it is indemnified to its satisfaction, cooperate in all respects with any reasonable written request by the Bond Insurer (unless a Bond Insurer Default exists) for action to preserve or enforce the Bond Insurer's rights or interest under this Indenture or the Insurance Agreement, consistent with this Indenture and without limiting the rights of the 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 Issuer and the Indenture Trustee acknowledge that (i) to the extent the Bond Insurer makes payments under the Bond Insurance Policy on account of principal of or interest on the Class A A-1 Bonds, the Bond Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Issuer, and (ii) the 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, so long as it is indemnified to its satisfaction, cooperate in all respects with any reasonable written request by the Bond Insurer (unless a Bond Insurer Default exists) for action to preserve or enforce the Bond Insurer's rights or interest under this Indenture or the Insurance Agreement, consistent with this Indenture and without limiting the rights of the 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: