Common use of Certain Litigation Matters Clause in Contracts

Certain Litigation Matters. (a) The Trust Agent, the Indenture Trustee or the Owner Trustee shall provide prompt written notice to the Insurer of any action, proceeding or investigation of which a Responsible Officer of the Trust Agent, the Indenture Trustee or the Owner Trustee, as applicable, has actual knowledge that could adversely affect the Trust or the Trust Estate or the rights or obligations of the Insurer under the Basic Documents or any other document delivered with respect thereto. (b) The Trust Agent, the Indenture Trustee and Owner Trustee shall, upon written notice from the Insurer, allow the Insurer to institute, assume or control the defense of any action, proceeding or investigation that could adversely affect the Trust or the Trust Estate or the rights or obligations of the Insurer under any of the Basic Documents or any other document delivered with respect thereto. (c) None of the Trust Agent, the Indenture Trustee or the Owner Trustee shall, without the Insurer's prior written consent or unless directed by the Insurer, undertake or join any litigation or agree to any settlement of any action, proceeding or investigation that could adversely affect the Trust or the rights or obligations of the Insurer under any of the Basic Documents or any other document delivered with respect thereto.

Certain Litigation Matters. (a) The Trust Agent, the Indenture Trustee or the Owner Trustee shall provide prompt written notice to the Insurer of any action, proceeding or investigation of which a Responsible Officer of the Trust Agent, the Indenture Trustee or the Owner Trustee, as applicable, has actual knowledge that could adversely affect the Trust or the Trust Estate or the rights or obligations of the Insurer under the Basic Documents or any other document delivered with respect thereto. (b) The Trust Agent, the Indenture Trustee and Owner Trustee shall, upon written notice from the Insurer, allow the Insurer to institute, assume or control the defense of any action, proceeding or investigation that could adversely affect the Trust or the Trust Estate or the rights or obligations of the Insurer under any of the Basic Documents or any other document delivered with respect thereto. (c) None of the Trust Agent, the Indenture Trustee or the Owner Trustee shall, without the Insurer's ’s prior written consent or unless directed by the Insurer, undertake or join any litigation or agree to any settlement of any action, proceeding or investigation that could adversely affect the Trust or the rights or obligations of the Insurer under any of the Basic Documents or any other document delivered with respect thereto.