Common use of Election under Bankruptcy Code Clause in Contracts

Election under Bankruptcy Code. The Indenture Trustee, by entering into this Indenture, and each Noteholder and Note Owner, by accepting a Note or an interest or participation in a Note, irrevocably makes the election provided to secured creditors by Section 1111(b)(1)(A)(i) of the Bankruptcy Code to receive the treatment provided by Section 1111(b)(2) of the Bankruptcy Code for a secured claim that Person may have against Other Borrower Assets (including a Specified Interest of a Titling Company other than the Collateral Specified Interest).

Election under Bankruptcy Code. The Indenture Trustee, by entering into this Indenture, and each Noteholder and Note Owner, by accepting a Note or an a beneficial interest or participation in a Note, irrevocably makes the election provided to secured creditors by Section 1111(b)(1)(A)(i) of the Bankruptcy Code to receive the treatment provided by Section 1111(b)(2) of the Bankruptcy Code for a secured claim that Person may have against Other Borrower Assets (including a Specified Interest of a Titling Company other than the Collateral Specified Interest or the EV Specified Interest).

Election under Bankruptcy Code. The Indenture Trustee, by entering into this Indenture, and each Noteholder and Note Owner, by accepting a Note or an interest or participation in a Note, Owner Trustee irrevocably makes the election provided afforded to secured creditors by Section 1111(b)(1)(A)(i) of the Bankruptcy Code to receive the treatment provided afforded by Section 1111(b)(2) of the Bankruptcy Code for a secured claim that Person the Owner Trustee may have against Other Borrower Assets (including a Specified Interest assets of a Titling Company the Depositor other than assets related to the Collateral Specified Interest)20 - Exchange Note of the Depositor.

Election under Bankruptcy Code. The Indenture Trustee, by entering into this Indenture, Owner Trustee and each Noteholder and Note Owner, other Person having rights under this Agreement by accepting a Note or an interest or participation in a Note, the benefits hereof irrevocably makes the election provided afforded to secured creditors by Section 1111(b)(1)(A)(i) of the Bankruptcy Code to receive the treatment provided afforded by Section 1111(b)(2) of the Bankruptcy Code for a secured claim that Person may have against Other Borrower Assets (including a Specified Interest Titling Company or against an Exchange Note of a Titling Company other than the Collateral Specified Interest)20 - Exchange Note.