Waiver of Servicer Events of Default. The Holders of not less than 66% of the Note Balances of the Notes may waive such default or Servicing Default. Upon any such waiver of a default or Servicing Default, such default or Servicing 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 or other default or Servicing Default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 2 contracts
Sources: Servicing Agreement (GE-WMC Mortgage Securities, L.L.C.), Servicing Agreement (GE-WMC Mortgage Securities, L.L.C.)