Common use of Action by Owners with Respect to Certain Matters Clause in Contracts

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 thereof, (b) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 10.01 thereof or (d) sell the Home Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities Insurer.]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] , to (a) remove the Administrator under pursuant to the Administration Agreement pursuant to Section 9 thereofAgreement, (b) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement, (c) remove the Master Servicer under pursuant to the Sale and Servicing Agreement Agreement, (d) remove the Servicer pursuant to Section 10.01 thereof the Servicing Agreement, or (de) sell the Home Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, and only after obtaining the consent of the Securities Insurer.]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Owners [and (with the consent of the Securities Security Insurer or upon the direction of the Securities Insurer,] (so long as no Security Insurer Default shall have occurred and be continuing)), to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 8 thereof, (b) appoint a successor Administrator pursuant to Section 9 8 of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 10.01 thereof or 8.02 thereof, (d) amend the Sale and Servicing Agreement pursuant to Section 10.01(b) of such document, or (e) except as expressly provided in the Basic Documents, sell the Home Loans Receivables after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities InsurerOwners.]

Action by Owners with Respect to Certain Matters. The ------------------------------------------------ Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] ], to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 thereof, (b) appoint a successor Administrator --------- pursuant to Section 9 of the Administration Agreement, (c) remove the Master --------- Servicer under the Sale and Master Servicing Agreement pursuant to Section 10.01 thereof ------------- or (d) sell the Home Loans Mortgage Assets after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities Insurer].]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] , to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 thereof, (b) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 10.01 thereof or (d) sell the Home Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities Insurer.]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Note Insurer,] ], to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 [8] thereof, (b) appoint a successor Administrator pursuant to Section 9 [8] of the Administration Agreement, or (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 10.01 thereof [ ] thereof, or (d) except as expressly provided in the Basic Documents, sell the Home Mortgage Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [andand the Note Insurer], so long as no Securities Insurer Default exists, but only after obtaining to the consent of extent expressly permitted in the Securities InsurerBasic Documents.]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 thereof, (b) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 10.01 thereof or (d) sell the Home Mortgage Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities Insurer.]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] ], to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 thereof, (b) appoint a successor Administrator pursuant to Section 9 of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement Indenture pursuant to Section 10.01 thereof or (d) sell the Home Loans Mortgage Assets after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities Insurer].]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Note Insurer,] ], to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 [8] thereof, (b) appoint a successor Administrator pursuant to Section 9 [8] of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 10.01 thereof [7.01] thereof, or (d) except as expressly provided in the Basic Documents, sell the Home Mortgage Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [andand the Note Insurer], so long as no Securities Insurer Default exists, but only after obtaining to the consent of extent expressly permitted in the Securities InsurerBasic Documents.]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the [Securities Insurer,] to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 8 thereof, (b) appoint a successor Administrator pursuant to Section 9 8 of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 10.01 thereof or (d) sell the Home Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, and only after obtaining the consent of the [Securities Insurer].]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] , to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 8 thereof, (b) appoint a successor Administrator pursuant to Section 9 8 of the Administration Agreement, (c) remove the Servicer or the Master Servicer under the Sale and Servicing Agreement pursuant to Section 10.01 thereof or (d) sell the Home Loans Grantor Trust Certificate after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, and only after obtaining the consent of the Securities Insurer.]

Action by Owners with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 8 thereof, (b) appoint a successor Administrator pursuant to Section 9 8 of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 10.01 thereof or (d) sell the Home Loans after the termination of the Indenture, provided that so long as the Indenture remains in effect, neither the Owner Trustee nor any Certificateholder shall have the power to take, and shall not take, any such action with respect to the Trust or the Company. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities InsurerOwners.]

Action by Owners with Respect to Certain Matters. The Owner ------------------------------------------------ Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 [ ] thereof, (b) appoint a successor Administrator pursuant to Section 9 - [ ] of the Administration Agreement, (c) remove the Master Servicer under the Sale and - Master Servicing Agreement pursuant to Section 10.01 [ ] thereof or (d) except as - expressly provided in the Basic Documents, sell the Home Mortgage Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities InsurerOwners.]

Action by Owners with Respect to Certain Matters. The ------------------------------------------------ Owner Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 ( ) thereof, (b) appoint a successor Administrator ---- pursuant to Section 9 ( ) of the Administration Agreement, (c) remove the --- Master Servicer under the Sale and Master Servicing Agreement pursuant to Section 10.01 ( ) --- thereof or (d) except as expressly provided in the Basic Documents, sell the Home Mortgage Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities InsurerOwners.]

Action by Owners with Respect to Certain Matters. The Owner ------------------------------------------------ Trustee shall not have the power, except upon the direction of the Owners [and with the consent of the Securities Insurer or upon the direction of the Securities Insurer,] Owners, to (a) remove the Administrator under the Administration Agreement pursuant to Section 9 [_] thereof, (b) appoint a successor Administrator pursuant to Section 9 [_] of the Administration Agreement, (c) remove the Master Servicer under the Sale and Servicing Agreement pursuant to Section 10.01 [_] thereof or (d) except as expressly provided in the Basic Documents, sell the Home Mortgage Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owners [and, so long as no Securities Insurer Default exists, only after obtaining the consent of the Securities InsurerOwners.]