Waiver of Servicer Events of Default. The Holders representing at least 66 2/3% of the Voting Rights evidenced by all Classes of Certificates affected by any SLS Event of Termination hereunder, may, with the consent of the Certificate Insurer, waive such SLS Event of Termination; provided, however, that a SLS Event of Termination under clause (i) or (vi) of Section 8.01 may be waived only by all of the Holders of the Regular Certificates. Upon any such waiver of an Event of Default, such Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent Event of Default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Terwin Mortgage Trust, Series TMTS 2005-12alt), Pooling and Servicing Agreement (Terwin Mortgage Trust, Series TMTS 2005-16he), Pooling and Servicing Agreement (Terwin Mortgage Trust, Series TMTS 2005-14he)
Waiver of Servicer Events of Default. The Holders representing at least 66 2/3% of the Voting Rights evidenced by all Classes of Certificates affected by any SLS Event of Termination hereunder, may, with the consent of the Certificate Insurer, may waive such SLS Event of Termination; provided, however, that a SLS Event of Termination under clause (i) or (vi) of Section 8.01 may be waived only by all of the Holders of the Regular Certificates. Upon any such waiver of an Event of Default, such Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent Event of Default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Terwin Mortgage Trust Asset-Backed Certificates, Series TMTS 2005-6he), Pooling and Servicing Agreement (Terwin Mortgage Trust, Series TMTS 2004-22sl), Pooling and Servicing Agreement (Terwin Mortgage Trust, Series TMTS 2005-10he)
Waiver of Servicer Events of Default. The Holders representing at least 66 2/3% of the Voting Rights evidenced by all Classes of Certificates affected by any SLS Event of Termination hereunder, may, with the consent of the Certificate Insurer, hereunder may waive such SLS Event of Termination; provided, however, that a SLS Event of Termination under clause (i) or (vi) of Section 8.01 may be waived only by all of the Holders of the Regular Certificates. Upon any such waiver of an Event of Default, such Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent Event of Default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Asst Back Certs Ser TMTS 2004 5he), Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Asst Back Certs Ser TMTS 2004 3he)
Waiver of Servicer Events of Default. The Holders representing at least 66 2/3% of the Voting Rights evidenced by all Classes of Certificates affected by any SLS Event of Termination hereunder, may, with the consent of the Certificate Insurer, Insurer may waive such SLS Event of Termination; provided, however, that a SLS Event of Termination under clause (i) or (vi) of Section 8.01 may be waived only by all of the Holders of the Regular Certificates. Upon any such waiver of an Event of Default, such Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent Event of Default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Terwin Mortgage Trust, Series 2004-11he)
