Common use of Collection of Indebtedness and Suits for Enforcement by Clause in Contracts

Collection of Indebtedness and Suits for Enforcement by. Indenture Trustee. ----------------- Subject to the provisions of Section 3.01 and the following sentence, if an Event of Default occurs and is continuing, the Indenture Trustee may[, with the prior written consent of the Note Insurer,] proceed to protect and enforce its rights and the rights of the Noteholders [and the Note Insurer] by any Proceedings the Indenture Trustee deems appropriate to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or enforce any other proper remedy. Any proceedings brought by the Indenture Trustee on behalf of the Noteholders [and the Note Insurer] or any Noteholder [or the Note Insurer] against the Issuer shall be limited to the preservation, enforcement and foreclosure of the liens, assignments, rights and security interests under the Indenture and no attachment, execution or other unit or process shall be sought, issued or levied upon any assets, properties or funds of the Issuer, other than the Trust Estate relative to the Notes in respect of which such Event of Default has occurred. If there is a foreclosure of any such liens, assignments, rights and security interests under this Indenture, by private power of sale or otherwise, no judgment for any deficiency upon the indebtedness represented by the Notes may be sought or obtained by the Indenture Trustee or any Noteholder against the Issuer. The Indenture Trustee shall be entitled to recover the costs and expenses expended by it pursuant to this Article V including reasonable compensation, expenses, disbursements and advances of the Indenture Trustee, its agents and counsel.

Collection of Indebtedness and Suits for Enforcement by. Indenture Trustee. ----------------- Subject The Issuer covenants that if (i) default is made in the payment of any interest (including the Interest Payment Amount) on any Bond when the same becomes due and payable, and such default continues for a period of five days, or (ii) default is made in the payment of the principal (including the Principal Payment Amount and the Subordination Increase Amount) of, or any installment of the principal of, any Bond when the same becomes due and payable, the Issuer shall, upon demand of the Indenture Trustee, at the direction of the Bond Insurer, so long as no Bond Insurer Default exists, pay to the Indenture Trustee, for the benefit of the Holders of Bonds and of the Bond Insurer, the whole amount then due and payable on the Bonds for principal and interest, with interest at the Bond Interest Rate upon the overdue principal, and in addition thereto such further amount as shall be sufficient to cover the reasonable costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee or the Bond Administrator and their respective agents and counsel. In case the Issuer shall fail forthwith to pay such amounts upon such demand, the Indenture Trustee, in its own name and as trustee of an express trust, and at the direction of the Bond Insurer, so long as no Bond Insurer Default exists, subject to the provisions of Section 3.01 10.16 hereof, may institute a Proceeding for the collection of the sums so due and unpaid, and may prosecute such Proceeding to judgment or final decree, and may enforce the following sentencesame against the Issuer or other obligor upon the Bonds and collect in the manner provided by law out of the property of the Issuer or other obligor the Bonds, if wherever situated, the monies adjudged or decreed to be payable. If an Event of Default occurs and is continuing, the Indenture Trustee may[Trustee, with at the prior written consent direction of the Note Bond Insurer,] , so long as no Bond Insurer Default exists, subject to the provisions of Section 10.16 hereof may, as more particularly provided in Section 5.04 hereof, in its discretion, proceed to protect and enforce its rights and the rights of the Noteholders [Bondholders and the Note Bond Insurer] , by any such appropriate Proceedings as the Indenture Trustee deems appropriate Trustee, at the direction of the Bond Insurer, so long as no Bond Insurer Default exists, shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. Any proceedings brought by remedy or legal or equitable right vested in the Indenture Trustee on behalf of by this Indenture or by law; provided, however, that reasonable indemnity is provided to the Noteholders [and Indenture Trustee by the Note Bond Insurer] or any Noteholder [or the Note Insurer] against the Issuer . In case there shall be limited to the preservationpending, enforcement and foreclosure of the liens, assignments, rights and security interests under the Indenture and no attachment, execution or other unit or process shall be sought, issued or levied upon any assets, properties or funds of the Issuer, other than the Trust Estate relative to the Notes Issuer or any other obligor upon the Bonds or any Person having or claiming an ownership interest in respect the Trust Estate, Proceedings under Title 11 of which the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such Event of Default has occurred. If there is a foreclosure other obligor or Person, or in case of any such liens, assignments, rights and security interests under this Indenture, by private power of sale other comparable judicial Proceedings relative to the Issuer or otherwise, no judgment for any deficiency other obligor upon the indebtedness represented by Bonds, or to the Notes may be sought creditors or obtained by property of the Indenture Trustee Issuer or any Noteholder against the Issuer. The Indenture Trustee shall be entitled to recover the costs and expenses expended by it pursuant to this Article V including reasonable compensationsuch other obligor, expenses, disbursements and advances of the Indenture Trustee, its agents at the direction of the Bond Insurer, so long as no Bond Insurer Default exists, irrespective of whether the principal of any Bonds shall then be due and counsel.payable as therein expressed or by declaration or otherwise and irrespective of whether the Indenture Trustee shall have made any demand pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such Proceedings or otherwise:

Collection of Indebtedness and Suits for Enforcement by. Indenture Trustee. ----------------- Subject to the provisions of Section 3.01 and the following sentence, The Company covenants that if an Event of Default specified in Section ------- 501(1) or 501(2) hereof occurs then the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of the Securities of such series and any such coupons, the whole amount then due and payable on such Securities and any such coupons for principal (and premium, if any) and interest and Additional Amounts, if any, with interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest is legally enforceable, on any overdue installments of interest or Additional Amounts, if any, at the rate or rates borne by or provided for in such Securities, and, in addition thereto, such further amount as is sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts due to the Trustee pursuant to Section 606 hereof. If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor on the Securities of such series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor on the Securities of such series, wherever situated. If an Event of Default with respect to Securities of any series occurs and is continuing, the Indenture Trustee may[, with the prior written consent of the Note Insurer,] may in its discretion proceed to protect and enforce its rights and the rights of the Noteholders [Holders of Securities of such series and any coupons appertaining thereto by such appropriate judicial proceedings as the Note Insurer] by any Proceedings the Indenture Trustee deems appropriate most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. Any proceedings brought by the Indenture Trustee on behalf of the Noteholders [and the Note Insurer] or any Noteholder [or the Note Insurer] against the Issuer shall be limited to the preservation, enforcement and foreclosure of the liens, assignments, rights and security interests under the Indenture and no attachment, execution or other unit or process shall be sought, issued or levied upon any assets, properties or funds of the Issuer, other than the Trust Estate relative to the Notes in respect of which such Event of Default has occurred. If there is a foreclosure of any such liens, assignments, rights and security interests under this Indenture, by private power of sale or otherwise, no judgment for any deficiency upon the indebtedness represented by the Notes may be sought or obtained by the Indenture Trustee or any Noteholder against the Issuer. The Indenture Trustee shall be entitled to recover the costs and expenses expended by it pursuant to this Article V including reasonable compensation, expenses, disbursements and advances of the Indenture Trustee, its agents and counsel.