Demand Note. WII shall not (i) assign, sell, convey, pledge, transfer, reconvey, cancel, forgive, compromise or otherwise dispose of the Demand Note held by it, in whole or in part, (ii) make any distribution other than to the Trust or unless the aggregate net worth of WII following such distribution shall be at least equal to 10% of the Original Certificate Balance or (iii) except as specifically permitted by the Trust Agreement, sell, transfer, assign, give or encumber by operation of law or otherwise any of its assets.
Appears in 5 contracts
Samples: Insurance, Indemnity and Pledge Agreement (WFS Financial 1996-D Owner Trust), Insurance, Indemnity and Pledge Agreement (WFS Financial 1997-B Owner Trust), Insurance, Indemnity and Pledge Agreement (WFS Financial 1997-D Owner Trust)
