Waiver of Default. By a written notice, the Trustee may with the consent of a Holders of Certificates evidencing at least 51% of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 58 contracts
Samples: Pooling and Servicing Agreement (GSAMP Trust 2006-S4), Servicing and Trust Agreement (GSR Mortgage Loan Trust 2006-Oa1), Flow Servicing Agreement (GSAA Home Equity Trust 2006-6)
Waiver of Default. By a written notice, the Trustee may with at the consent direction of a Holders of Certificates evidencing at least 5151.00% of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 26 contracts
Samples: Pooling and Servicing Agreement (Hsi Asset Securitization Corp), Pooling and Servicing Agreement (Hsi Asset Securitization Corp), Pooling and Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He2)
Waiver of Default. By a written notice, the Trustee may with the consent of a Holders of Certificates evidencing at least 51% a majority of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-Nc3), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He6), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He8)
Waiver of Default. By a written notice, the Trustee may with the consent of a Holders of Certificates evidencing at least 51% a majority of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (GSAMP Trust 2007-H1), Pooling and Servicing Agreement (GSAMP Trust 2007-Fm1), Pooling and Servicing Agreement (GSAMP Trust 2007-Fm2)
Waiver of Default. By a written notice, the Trustee may may, with the consent of a Holders of Certificates evidencing at least 51% of the Voting Rights waive any default by the Master Servicer or the Backup Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I, Inc. IXIS Real Estate Capital Trust 2006-He1), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. IXIS Real Estate Capital Trust 2006-He2), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. IXIS Real Estate Capital Trust 2006-He3)
Waiver of Default. By a written notice, the Trustee may with may, and shall, at the consent direction of a Holders of Certificates evidencing at least the Certificateholders holding 51% of the Voting Rights Rights, waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Trust Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 4 contracts
Samples: Servicing and Trust Agreement (GSR Mortgage Loan Trust 2007-5f), Trust Agreement (STARM Mortgage Loan Trust 2007-1), Trust Agreement (GSR Mortgage Loan Trust 2007-2f)
Waiver of Default. By a written notice, the Trustee may with at the consent direction of a Holders of Certificates evidencing at least 51[ ]% of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Structured Asset Securities Corp), Pooling and Servicing Agreement (Hsi Asset Securitization Corp)
Waiver of Default. By a written notice, the [Delaware] Trustee may with the consent of a Holders of Certificates evidencing at least 51% [51]% of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 1 contract
Samples: Distribution Instructions (Gs Mortgage Securities Corp)
Waiver of Default. By a written notice, the Trustee may with at the consent direction of a Holders of Certificates evidencing at least 51% of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HASCO Trust 2005-Nc1)
Waiver of Default. By a written notice, the Trustee may may, with the consent of a Holders of Certificates evidencing at least 51% a majority of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 1 contract
Samples: Assignment and Recognition Agreement (Natixis Real Estate Capital Trust 2007-He2)
Waiver of Default. By a written notice, the Trustee may may, with the consent of a Holders of Certificates evidencing at least 51% of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 1 contract
Waiver of Default. By a written notice, the Trustee may with the consent of a Holders of Certificates evidencing at least 51% of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.its
Appears in 1 contract
Samples: Servicing Agreement (GSAA Home Equity Trust 2006-12)
Waiver of Default. By a written notice, the Trustee may with the consent of a Holders of Certificates evidencing at least 51% of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.. 105
Appears in 1 contract
Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2007-Oa1)
Waiver of Default. By a written notice, the Trustee may with at the consent direction of a Holders of Certificates evidencing at least 5151.00% of the Voting Rights waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.its
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HSI Asset Loan Obligation Trust 2007-Ar1)
Waiver of Default. By a written notice, the Trustee may with the consent of a Holders of Group I Certificates evidencing at least 51% of the Voting Rights waive any default by the Group I Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Group I Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAA Home Equity Trust 2006-S1)
Waiver of Default. By a written notice, the Trustee may with the consent of a Holders of Certificates evidencing at least 51% a majority of the Voting Rights represented by the Certificates waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He7)
Waiver of Default. By a written notice, the Trustee may with may, and shall, at the consent direction of a Holders of Certificates evidencing at least 51the Certificateholders holding 66% of the Voting Rights Rights, waive any default by the Master Servicer in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Master Servicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Trust Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 1 contract
Samples: Master Servicing (GSR Mortgage Loan Trust 2007-Ar2)
