Common use of Waiver of Past Servicer Termination Events Clause in Contracts

Waiver of Past Servicer Termination Events. The Holders of the Notes evidencing not less than a majority of the principal amount of the Outstanding Note Balance of the Controlling Class (or, if no Notes are Outstanding, the Majority Certificateholders) may, on behalf of all Noteholders (or the Certificateholders, as applicable), waive any Servicer Termination Event hereunder and its consequences, except an event resulting from the failure by the Servicer to make any required payments in accordance with this Agreement, which shall require the unanimous vote of all Holders of Outstanding Notes and Certificates. Upon any such waiver of a past Servicer Termination Event, such Servicer Termination Event shall cease to exist, and shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other Servicer Termination Event or impair any right consequent thereon. The Indenture Trustee shall provide written notice of any such waiver to the Issuer.

Waiver of Past Servicer Termination Events. The Holders holders of the Notes evidencing not less than a majority of the principal amount of the Outstanding Note Balance of the Controlling Class Notes (or, if no Notes are Outstanding, holders of Certificates evidencing a majority of the Majority Certificateholdersbeneficial interest in the Issuer) may, on behalf of all Noteholders (or the and Certificateholders, as applicable), waive any Servicer Termination Event hereunder and its consequences, except an event resulting from the failure by the Servicer to make any required payments in accordance with this Agreement, which shall require the unanimous vote of all Holders of Outstanding Notes and Certificates. Upon any such waiver of a past Servicer Termination Event, such Servicer Termination Event shall cease to exist, and shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other Servicer Termination Event or impair any right consequent thereon. The Indenture Trustee shall provide written notice of any such waiver to the IssuerRating Agencies.

Waiver of Past Servicer Termination Events. The Holders holders of the Notes evidencing not less than a majority of the principal amount of the Outstanding Note Balance Notes of the Controlling Class (or, if no Notes are Outstanding, holders of Certificates evidencing a majority of the Majority Certificateholdersbeneficial interest in the Issuer) may, on behalf of all Noteholders (or the and Certificateholders, as applicable), waive any Servicer Termination Event hereunder and its consequences, except an event resulting from the failure by the Servicer to make any required payments in accordance with this Agreement, which shall require the unanimous vote of all Holders of Outstanding Notes and Certificates. Upon any such waiver of a past Servicer Termination Event, such Servicer Termination Event shall cease to exist, and shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other Servicer Termination Event or impair any right consequent thereon. The Indenture Trustee shall provide written notice of any such waiver to the IssuerRating Agencies.