Common use of Waiver of Past Defaults Clause in Contracts

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that cannot be amended, supplemented or modified without the consent of all the Noteholders. Upon any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 or the liquidation or sale of the Trust Estate pursuant to Section 5.04, the Holders of Notes evidencing not less than 51% representing at least a majority of the Note Balance Outstanding Amount of the Notes of the Controlling Class (acting together as a single Class), may, on behalf without the consent of all Noteholders, the Holder of the Certificate; may waive any past Default, Event of Default or Event of Servicer Default and its consequences except a (a) Servicer Default or Event of Default (i) in the payment deposit of principal of collections or interest on any of other required amounts into the Notes Collection Account or Reserve Account, or (iib) Default in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, Outstanding Amount may waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall respectively be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing not less than 51% of at least a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Securities may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the IssuerIssuing Entity, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration time a judgment or decree for payment of the acceleration of the maturity of the Notes money due has been obtained as provided described in Section 5.2, the Holders Noteholders of Notes evidencing not less than 51% at least a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment when due of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all each Noteholder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, occurred for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 or the liquidation or sale of the Collateral pursuant to Section 5.04, the Holders of Notes evidencing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling ClassNotes, mayvoting as a single class, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default in (ia) in the payment of principal of or interest on any of the Notes or (iib) an Event of Default in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration time a judgment or decree for payment of the acceleration of the maturity of the Notes money due has been obtained as provided described in Section 5.25.03, the Required Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences consequences, except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the Noteholders. Upon In the case of any such waiverwaiver of an Event of Default, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration time a judgment or decree for payment of the acceleration of the maturity of the Notes amounts due has been obtained as provided described in Section 5.2, the Holders Noteholders of Notes evidencing not less than 51% a majority of the Note Outstanding Principal Balance of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default Default: (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all each Noteholder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders Noteholders of Notes evidencing of not less than 51% a majority of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, Outstanding Amount may waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all each Noteholder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall respectively be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration time a judgment or decree for payment of the acceleration of the maturity of the Notes money due has been obtained as provided described in Section 5.25.3, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default Default: (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the IssuerIssuing Entity, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf Class of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders Enhancer (so long as no Enhancer Default exists) or the Noteholders of Notes evidencing not less than 51% a majority of the aggregate Note Balance of the Controlling ClassNotes, maywith the consent of the Enhancer, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences consequences, except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersNoteholder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their respective former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the deposit of collections or other required amounts, or any required payment from amounts held in any trust account in respect of amounts due on the Notes, (b) in payment of principal of of, or interest or amounts due on any of the Notes or (iic) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 or the liquidation or sale of the Trust Estate pursuant to Section 5.04, the Holders of Notes evidencing not less than 51% representing at least a majority of the Note Balance Outstanding Amount of the Notes of the Controlling Class (acting together as a single Class), maywithout the consent of the Holder of the Certificate, on behalf of all Noteholders, may waive any past Default, Event of Default or Event of Servicer Default and its consequences except a (a) Servicer Default or Event of Default (i) in the payment deposit of principal of collections or interest on any of other required amounts into the Notes Collection Account or Reserve Account, or (iib) Default in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any such Event of Default arising therefrom (in the case of a Default) shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration time a judgment or decree for payment of the acceleration of the maturity of the Notes money due has been obtained as provided described in Section 5.2, the Holders Noteholders of Notes evidencing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment when due of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all each Noteholder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, occurred for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 hereof, the Holders of Notes evidencing representing not less than 51% a majority of the aggregate Note Balance of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 5150% of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Securities may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon The Indenture Trustee will give written notice of any such waiver to the Swap Counterparty, if any. In the case of any such waiver, the IssuerIssuing Entity, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Class may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Outstanding Balance of the Controlling ClassNotes may waive, mayin writing, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing not less than 51% of the Note Balance Majority Noteholders of the Controlling Class, Class may, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, Majority Noteholders may, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2If an Insurer Default shall have occurred and be continuing, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders holders of Notes evidencing not less than 51% a majority of the Note Balance principal amount of the Controlling Class, may, on behalf of all Noteholders, Notes Outstanding may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented or modified without the consent of all each Noteholder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, Class may, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders Noteholders of Notes evidencing not less than 51% a majority of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, Note Class may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented or modified without the consent of all each Noteholder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration time a judgment or decree for payment of the acceleration of the maturity of the Notes money due has been obtained as provided described in Section 5.25.3, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default Default: (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, The Majority Noteholders may waive any past Default or Event of Default and its consequences consequences, except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all each Noteholder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, Class of Notes may, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Notes of the Controlling Class, may, on behalf of all Noteholders, Class may waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amendedsupplemented, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. The Issuer shall notify each Rating Agency of any waiver of a Default or Event of Default. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, Class may, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 hereof, the Holders of Notes evidencing representing not less than 51% a majority of the aggregate Note Principal Balance of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing Interested Noteholders representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Classapplicable Classes of Notes, may, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment when due of principal of or interest on any of the Notes Note or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all each holder of the NoteholdersNotes. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, occurred for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance principal amount of the Controlling ClassNotes Outstanding, mayvoting as a group, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented or modified without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 or the liquidation or sale of the Trust Estate pursuant to Section 5.04, the Holders of Notes evidencing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling ClassNotes, mayvoting as a single class (excluding for such purposes the outstanding principal amount of any Notes held of record or beneficially owned by NMAC, on behalf NARC II or any of their Affiliates, unless at such time all Noteholdersof the Notes are held of record or beneficially owned by NARC II, NMAC or any of their Affiliates) may waive any past Default or Event of Default and its consequences except a Default or Event of Default in (ia) the deposit of collections or other required amounts, (b) any required payment from amounts held in Accounts in respect of amounts due on the Notes, (c) payment of principal of or interest on any of the Notes Notes, or (iid) an Event of Default in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 hereof, the Holders of Notes evidencing representing not less than 51% a majority of the aggregate Note Balance of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee Trustee, the Securities Administrator and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior Holders of a majority in aggregate principal amount of the then Outstanding Notes by notice to the declaration Trustee may on behalf of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders of all the Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, waive any past existing Default or Event of Default and its consequences under this Indenture (except (1) a continuing Default or Event of Default (i) in the payment of interest on, premium, if any, or the principal of or interest on any of the Notes such Note held by a non-consenting Holder, or (ii2) in respect of a covenant or provision hereof that or in any Guarantee which under Article Nine cannot be amended, supplemented modified or modified amended without the consent of the Holder of each Outstanding Note affected, which shall require the consent of all Holders of the Noteholders. Upon Notes) and rescind any acceleration and its consequences with respect to the Notes; provided that such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to rescission would not conflict with any subsequent or other Default or Event judgment of Default or impair any right consequent theretoa court of competent jurisdiction. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurredexist, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurredcured, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretothereon.

Waiver of Past Defaults. Prior to the declaration The Holders of the acceleration of the maturity not less than a majority in aggregate principal amount of the Notes as provided in Section 5.2outstanding, by written notice to the Trustee and the Company, may on behalf of the Holders of all outstanding Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, waive any past existing Default or Event of Default under this Indenture and its consequences consequences, except a continuing Default or Event of Default (i1) in the payment of the principal of of, premium, if any, or interest on any Note (which may only be waived with the consent of the each Holder of Notes affected) or (ii2) in respect of a covenant or provision hereof that which under this Indenture cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note affected by such modification or amendment. Upon The Company shall deliver to the Trustee an Officers’ Certificate stating that the requisite percentage of Holders have consented to such waiver and attaching copies of such consents. In case of any such waiver, the IssuerCompany, the Indenture Trustee and the Noteholders Holders shall be restored to their former positions and rights hereunderhereunder and under the Notes, respectively. This Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretoas permitted by the TIA. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurredexist, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretothereon.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, Class may, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that cannot be amended, supplemented or modified without the consent of all the Noteholders. Upon any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders Credit Enhancer (so long as no Credit Enhancer Default exists) or the Noteholders of Notes evidencing not less than 51% a majority of the aggregate Note Balance of the Controlling ClassNotes, maywith the consent of the Credit Enhancer, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences consequences, except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersNoteholder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their respective former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing Noteholders representing not less than 51% of the Note Balance of the Controlling Class, Class may, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or Notes, (ii) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note or (iii) arising from the occurrence of an Insolvency Event with respect to the Issuer. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders holders of Notes evidencing not less than 51% a majority of the Note Balance principal amount of the Controlling Class, may, on behalf of all Noteholders, Class Outstanding may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented or modified without the consent of all each Noteholder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders Note Insurer, or if a Note Insurer Default exists, the Owners of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersNote Insurer or the Owner of each Note, as applicable. Upon In the case of any such waiver, the Issuer, the Indenture Trustee Trustee, the Note Insurer and the Noteholders Owners of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.4, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling ClassInsurer or, mayif an Insurer Default has occurred and is continuing, on behalf of all Noteholders, a Note Majority may waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the The Majority Priority Highest Classes Notes as provided in Section 5.2, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences consequences, except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 hereof, the Holders of Notes evidencing representing not less than 51% a majority of the aggregate Note Principal Balance of the Controlling Class, may, on behalf each Class of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes Notes, or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, occurred for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the aggregate Note Balance of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Balances of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, Notes may, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Insurer or the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Notes, acting together as a single Class, may, on behalf with the consent of all Noteholders, the Insurer may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note, as applicable. Upon In the case of any such waiver, the Issuer, the Indenture Trustee Trustee, the Insurer and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 hereof, the Holders of Notes evidencing representing not less than 5166-2/3% of the aggregate Note Balance of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration time a judgment or decree for payment of the acceleration of Cash due has been obtained by the maturity Trustee, as provided in this Article 5, Holders of the Notes as provided in Section 5.2, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, may waive any past Event of Default or any occurrence that is, or with notice or the lapse of time or both would become, an Event of Default and its consequences except a Default or consequences; provided that any such Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) occurrence in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the waiver or consent of all each Holder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. The Trustee shall promptly give written notice of any such waiver to the Collateral Manager, the Revolving Credit Note Agent and each Holder. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurredexist, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurredcured, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Insurer or the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf Notes with the consent of all Noteholders, the Insurer may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note, as applicable. Upon In the case of any such waiver, the Issuer, the Indenture Trustee Trustee, the Insurer and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior Upon written instruction of a ----------------------- Majority in Interest of Holders of Notes, the Indenture Trustee shall waive any Indenture Event of Default specified in such instruction and its consequences and, upon any such waiver, such Indenture Event of Default shall cease to exist for every purpose of this Indenture; provided, however, that no such waiver shall extend to any subsequent or other Indenture Event of Default or impair any right or consequence thereof; and provided further, however, that in the declaration absence of the acceleration written instruction of the maturity of the Notes as provided in Section 5.2, the Holders of all Secured Notes evidencing then Outstanding, the Indenture Trustee shall not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, waive any past Default or Indenture Event of Default and its consequences except arising from a Default or Event of Default default (i) in the payment of the principal of or interest on on, or other amounts due under, any of the Notes Secured Note then Outstanding, or (ii) in respect of a covenant or provision hereof that which, pursuant to the terms of Article IX, cannot be amended, supplemented modified or modified amended without the consent of all the Noteholders. Upon any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event each Holder of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretoa Secured Note then Outstanding.

Waiver of Past Defaults. Prior to the declaration of ------------------------ the acceleration of the maturity of the Notes of all Series as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf Notes of all Noteholders, Series may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or premium, if any, or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of the Holder of each Note of all Series or Classes affected. In the Noteholders. Upon case of any such waiver, the Note Issuer, the Indenture Note Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 5150% of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Securities may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, Majority Noteholders may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (i) in the with respect to payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. No such waiver shall affect a Hedge Agreement or any Hedge Transaction that has been terminated in accordance with its terms.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 or the liquidation or sale of the Trust Estate pursuant to Section 5.04, the Holders of Notes evidencing not less than 51% representing at least a majority of the Note Balance Outstanding Amount of the Controlling Notes (acting together as a single Class), maywithout the consent of the Holder of the Certificate (excluding for such purposes the outstanding principal amount of any Notes held of record or beneficially owned by TMCC, on behalf TAFR LLC or any of all Noteholders, their Affiliates); may waive any past Default, Event of Default or Event of Servicer Default and its consequences except a (a) Servicer Default or Event of Default (i) in the payment deposit of principal of collections or interest on any of other required amounts into the Notes Collection Account or Reserve Account, or (iib) Default in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration The Holders of Notes of not less than a majority of the acceleration of the maturity Outstanding Amount of the Notes as provided in Section 5.2, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders Enhancer (so long as no Enhancer Default exists) or the Noteholders of Notes evidencing not less than 51% a majority of the Note Balance aggregate Voting Rights of the Controlling ClassNotes, maywith the consent of the Enhancer, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences consequences, except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersNoteholder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their respective former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of the Holder of each Note or of all Classes affected. In the Noteholders. Upon case of any such waiver, the Note Issuer, the Indenture Note Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Note Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders Noteholders of Notes evidencing not less than 51% a majority of the aggregate Note Balance of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences consequences, except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersNoteholder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their respective former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior Subject to Sections 6.07 and 9.02, the declaration Trustee, upon receipt of written notice from the acceleration Holders of the maturity not less than a majority in aggregate principal amount of the Notes as provided in Section 5.2then outstanding, may on behalf of the Holders of all the Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of rescind an acceleration or waive all Noteholders, waive any past Default or Event of Default and its consequences except a Default existing Defaults or Event Events of Default (except with respect to (i) in the payment nonpayment of principal of principal, premium or interest on any of the Notes interest, or Additional Amounts, if any, and (ii) in respect of a covenant or provision hereof that which under this Indenture cannot be amended, supplemented modified or modified amended without the consent of all the Noteholders. Upon Holders of not less than 90% in aggregate principal amount of the Notes then outstanding, each of which may only be waived with the consent of the Holders of not less than 90% in aggregate principal amount of the Notes then outstanding) and rescind any such waiver, the Issuer, the Indenture Trustee acceleration with respect to such Notes and the Noteholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to its consequences if rescission would not conflict with any subsequent judgment or other Default or Event decree of Default or impair any right consequent theretoa court of competent jurisdiction. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurredexist, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretothereon.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes of all Series of Notes or any Series of Notes as provided in Section 5.29.2, the Requisite Noteholders (or, if an Event of Default with respect to less than all Series of Notes Outstanding has occurred, the Holders of Notes evidencing not less more than 5150% of the Note Balance aggregate Invested Amounts of the Controlling Class, all Series of Notes with respect to which an Event of Default shall have occurred) may, on behalf of all Noteholderssuch Holders, waive any past Potential Event of Default or Event of Default and its consequences except a Potential Event of Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes Notes, or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note, which, in each case, may only be waived by 100% of the Holders of the Notes. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes Outstanding shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Potential Event of Default or Event of Default or impair any right consequent thereto. Upon any such waiverDefault, such Default or Event of Default as applicable, shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this the Indenture, ; but no such waiver shall extend to any subsequent or other Potential Event of Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the aggregate Note Balance of the Controlling ClassNotes with the consent of the Credit Enhancer (so long as no Credit Enhancer Default exists), may, on behalf of all Noteholders, or the Credit Enhancer (so long as no Credit Enhancer Default exists) may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.2 above, the Insurer (so long as no Insurer Default exists) or the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling ClassNotes, maywith the consent of the Insurer (so long as no Insurer Default exists), on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Insurer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration The Holders of the acceleration of the maturity not less than a majority in aggregate principal amount of the Notes as provided outstanding, by written notice (including, without limitation, consents obtained in Section 5.2connection with a purchase of, or tender offer or exchange offer for the Notes) to the Trustee and the Company, may on behalf of the Holders of all outstanding Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, waive any past existing Default or Event of Default or non-compliance with any provisions under this Indenture and its consequences consequences, except a continuing Default or Event of Default (i1) in the payment of the principal of of, premium, if any, or interest on any Note (which may only be waived with the consent of the each Holder of Notes affected), or (ii2) in respect of a covenant or provision hereof that which under this Indenture cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note affected by such modification or amendment. Upon In case of any such waiver, the IssuerCompany, the Indenture Trustee and the Noteholders Holders shall be restored to their former positions and rights hereunderhereunder and under the Notes, respectively. This Section 9.04 shall be in lieu of §316(a)(1)(B) of the TIA and such §316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretoas permitted by the TIA. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurredexist, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretothereon.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Voting Rights of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all each Noteholder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 hereof, the Note Insurer, or if a Note Insurer Default exists, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Principal Balances of the Controlling ClassNotes, may, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note or (c) the waiver of which would materially and adversely affect the interests of the Note Insurer or modify its obligation under the Note Insurance Policy. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this IndentureIndenture and the Issuer, the Indenture Trustee and the Holders of the Notes shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders Noteholders of Notes evidencing not less than 51% a majority of the aggregate Note Balance of the Controlling ClassNotes, may, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences consequences, except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersNoteholder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their respective former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of the Holder of each Note or of all Classes affected, which Defaults may be waived only by the NoteholdersHolders of each Note, or each affected Class, as the case may be. Upon In the case of any such waiver, the Note Issuer, the Indenture Note Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Note Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 or the liquidation or sale of the Trust Estate pursuant to Section 5.04, the Holders of Notes evidencing not less than 51% representing at least a majority of the Note Balance Outstanding Amount of the Notes of the Controlling Class (acting together as a single Class), maywithout the consent of the Holder of the Certificate (excluding for such purposes the outstanding principal amount of any Notes held of record or beneficially owned by TMCC, on behalf TAFR LLC or any of all Noteholders, their Affiliates); may waive any past Default, Event of Default or Event of Servicer Default and its consequences except a (a) Servicer Default or Event of Default (i) in the payment deposit of principal of collections or interest on any of other required amounts into the Notes Collection Account or Reserve Account, or (iib) Default in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the aggregate Note Balance of the Controlling ClassNotes with the consent of the Credit Enhancer, may, on behalf of all Noteholders, or the Credit Enhancer (so long as no Credit Enhancer Default exists) may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 or the liquidation or sale of the Trust Estate pursuant to Section 5.04, the Holders of Class A Notes evidencing not less than representing at least 51% of the Note Balance Outstanding Amount of the Controlling Class A Notes (acting together as a single Class), maywithout the consent of the Holder of the Certificate or the Revolving Liquidity Note (excluding for such purposes the outstanding principal amount of any Notes held of record or beneficially owned by TMCC, on behalf TAFR LLC or any of all Noteholders, their Affiliates); may waive any past Default, Event of Default or Event of Servicer Default and its consequences except a (a) Servicer Default or Event of Default (i) in the payment deposit of principal of collections or interest on any of other required amounts into the Notes Collection Account, Payahead Account or Reserve Fund, or (iib) Default in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersSecurities Insurer or the Holder of each Note, as applicable. Upon In the case of any such waiver, the Issuer, the Indenture Trustee Trustee, the Securities Insurer and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 hereof, the Holders of Notes evidencing representing not less than 51% a majority of the aggregate Note Principal Balance of the Controlling Class, may, on behalf each Class of all Noteholders, Senior Notes may waive any past Default or Event of Default and its consequences except a Default or an Event of Default (ia) in the with respect to payment of principal of or interest on any of the Notes Senior Notes, or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Senior Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, occurred for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes Transition Bonds of all Series as provided in Section 5.25.02, the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling ClassTransition Bonds of an affected Series or Tranche, maytogether with the PUCT, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or premium, if any, or interest on any of the Notes Transition Bonds or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of the Holder of each Transition Bond of all Series or Tranches affected. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, Notes may, on behalf of all Noteholders, waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 5150% of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Securities may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon The Indenture Trustee will give written notice of any such waiver to the Swap Counterparty. In the case of any such waiver, the IssuerIssuing Entity, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration The Holders of the acceleration of the maturity a majority in aggregate principal amount of the Notes as provided in Section 5.2, outstanding may on behalf of the Holders of all outstanding Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, waive any past Default or Event of Default under this Supplemental Indenture or any other provision of the Indenture with respect to the Notes and its consequences consequences, except a Default or Event of Default (i1) in the payment of the principal of of, premium, if any, or interest on any Note (which may only be waived with the consent of the Notes each Holder affected) or (ii2) in respect of a covenant or provision hereof that which under Section 8.02 cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note affected by such modification or amendment. Upon any This Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such waiver, Section 316(a)(1)(B) of the Issuer, the TIA is hereby expressly excluded from this Supplemental Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunderNotes, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretoas permitted by the TIA. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurredexist, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Supplemental Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretothereon.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing not less than 51% of at least a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Securities may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon The Indenture Trustee will give written notice of any such waiver to the Swap Counterparty, if any. In the case of any such waiver, the IssuerIssuing Entity, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, Majority Noteholders may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or Notes, (iib) arising under any Hedge Agreement, (c) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note, or (d) occurring as a result of an event specified in Section 5.1(a)(iv) or (v). Upon In the case of any such waiver, the Issuer, the Indenture Trustee Trustee, the Holders of the Notes and the Noteholders Hedge Counterparties shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. The Indenture Trustee shall promptly give written notice of any such waiver to each Rating Agency.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes of any Series as provided in Section 5.25.02, Noteholders holding Notes evidencing a majority of the Holders Series Outstanding Amount of such Series of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all such Noteholders, waive any past Default or Event of Default with respect to such Series of Notes and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes of such Series or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note of such Series. Upon In the event of any such waiver, the Issuer, the Indenture Trustee and the Noteholders of such outstanding Series shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. The Issuer shall give prompt written notice of any waiver to the Rating Agencies.

Waiver of Past Defaults. Prior to the declaration The Holders of the acceleration of the maturity not less than a majority in aggregate principal amount of the Notes as provided outstanding, by written notice (including, without limitation, consents obtained in Section 5.2connection with a purchase of, or tender offer or exchange offer for the Notes) to the Trustee and the Company, may on behalf of the Holders of all outstanding Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, waive any past existing Default or Event of Default or non-compliance with any provisions under this Indenture and its consequences consequences, except a continuing Default or Event of Default (i1) in the payment of the principal of of, premium, if any, or interest on any Note (which may only be waived with the consent of the each Holder of Notes affected), or (ii2) in respect of a covenant or provision hereof that which under this Indenture cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note affected by such modification or amendment. Upon In case of any such waiver, the IssuerCompany, the Indenture Trustee and the Noteholders Holders shall be restored to their former positions and rights hereunderhereunder and under the Notes, respectively. This Section 6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretoas permitted by the TIA. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurredexist, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretothereon.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing of not less than 51% a majority of the Note Balance Outstanding Amount of the Notes of the Controlling Class, may, on behalf of all Noteholders, Class may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the deposit of collections or other required amounts, any required payment from amounts held in any trust account in respect of amounts due on the Notes, (b) in payment of principal of of, interest or interest amounts due on any of the Notes or (iic) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.2 above, the Holders of Notes evidencing not less than 51% of Insurer (so long as no Insurer Default has occurred and is continuing), or if an Insurer Default has occurred and is continuing, the Note Balance of the Controlling ClassMajority Noteholder, may, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Insurer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders Owners of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersNote Insurer or the Owner of each Note, as applicable. Upon In the case of any such waiver, the Issuer, the Indenture Trustee Trustee, the Note Insurer and the Noteholders Owners of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2, the Holders holders of Notes evidencing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Class may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented or modified without the consent of all each Noteholder. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes Deferred Fuel Cost Bonds as provided in Section 5.25.02, the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling ClassDeferred Fuel Cost Bonds of an affected Tranche, mayby written notice to the Indenture Trustee, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or premium, if any, or interest on any of the Notes Deferred Fuel Cost Bonds or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of the Holder of each Deferred Fuel Cost Bond of all Tranches affected. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes Consumer Rate Relief Bonds as provided in Section 5.25.02, the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling ClassConsumer Rate Relief Bonds of an affected Tranche, maytogether with the Commission, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or premium, if any, or interest on any of the Notes Consumer Rate Relief Bonds or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of the Holder of each Consumer Rate Relief Bond of all Tranches affected. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes Securitization Bonds as provided in Section 5.25.02, the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling ClassSecuritization Bonds, mayby written notice to the Indenture Trustee, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or premium, if any, or interest on any of the Notes Securitization Bonds or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of the Holder of each Securitization Bond of all tranches affected. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders shall be restored to their former positions and rights hereunder, respectively, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02, the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling Class, may, on behalf of all Noteholders, Notes may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or interest on any of the Notes or (iib) in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior If an Insurer Default shall have occurred and be continuing, prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.4, the Holders of Notes evidencing not less than 51% of the a Note Balance of the Controlling Class, may, on behalf of all Noteholders, Majority may waive any past Default or Event of Default and its consequences except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or (ii) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes System Restoration Bonds as provided in Section 5.25.02, the Holders of Notes evidencing representing not less than 51% a majority of the Note Balance Outstanding Amount of the Controlling ClassSystem Restoration Bonds of an affected Tranche, maytogether with the PUCT, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment of principal of or premium, if any, or interest on any of the Notes System Restoration Bonds or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of the Holder of each System Restoration Bond of all Tranches affected. In the Noteholders. Upon case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.25.02 or the liquidation or sale of the Trust Estate pursuant to Section 5.04, the Holders of Class A Notes evidencing not less than representing at least 51% of the Note Balance Outstanding Amount of the Controlling Class A Notes (acting together as a single Class), maywithout the consent of the Holder of the Certificate (excluding for such purposes the outstanding principal amount of any Notes held of record or beneficially owned by TMCC, on behalf TMCRC or any of all Noteholders, their Affiliates); may waive any past Default, Event of Default or Event of Servicer Default and its consequences except a (a) Servicer Default or Event of Default (i) in the payment deposit of principal of collections or interest on any of other required amounts into the Notes Collection Account, Principal Distribution Account, Payahead Account or Reserve Fund, or (iib) Default in respect of a covenant or provision hereof that cannot be amended, supplemented modified or modified amended without the consent of all the NoteholdersHolder of each Note. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders Holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

Waiver of Past Defaults. Prior Subject to Sections 2.10, 6.2, 6.7 and 9.2, prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.2Notes, the Holders of Notes evidencing not less than 51% a majority in principal amount of the Note Balance of outstanding Notes by written notice to the Controlling Class, may, Trustee may on behalf of all Noteholders, of the Holders waive any past Default or Event of Default and its consequences consequences, except a Default or Event of Default (i) in the payment of principal of or interest on any of the Notes or Note as specified in clauses (i) and (ii) of Section 6.1 or a Default in respect of a covenant any term or provision hereof of this Indenture that canmay not be amended, supplemented modified or modified amended without the consent of all the Noteholderseach Holder affected as provided in Section 9.2. Upon In case of any such waiver, the IssuerCompany, the Indenture Trustee and the Noteholders Holders shall be restored to their former positions and rights hereunderhereunder and under the Notes, respectively. This paragraph of this Section 6.4 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretoas permitted by the TIA. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, occurred for every purpose of this IndentureIndenture and the Notes, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent theretothereon.

Waiver of Past Defaults. Prior to the declaration time a judgment or decree for payment of money due has been obtained as described in Section 5.02, the holders of not less than a majority of the acceleration of the maturity Outstanding Amount of the Notes as provided in Section 5.2, the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class, may, on behalf of all Noteholders, may waive any past Default or Event of Default and its consequences except a Default or Event of Default (ia) in the payment when due of principal of or interest (including, subject to the limitations of Sections 2.07(d) and 8.02(c), any Noteholders' Interest Index Carryover) on any of the Notes or (iib) in respect of a covenant or provision hereof that which cannot be amended, supplemented modified or modified amended without the consent of all each holder of the NoteholdersNotes. Upon In the case of any such waiver, the Issuer, the Indenture Trustee and the Noteholders holders of the Notes shall be restored to their former positions and rights hereunder, respectively, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. Upon any such waiver, such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, occurred for every purpose of this Indenture, ; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.