Common use of Indenture Trustee May Elect to Hold the Collateral Clause in Contracts

Indenture Trustee May Elect to Hold the Collateral. Following an acceleration of any Series, Class or Tranche of Notes, the Indenture Trustee may elect to continue to hold the Collateral and apply distributions on the Collateral in accordance with the regular distribution provisions pursuant to the relevant allocation provisions of the Servicing Agreement, except that principal will be paid on the accelerated Series, Class or Tranche of Notes to the extent funds are received and allocated to the accelerated Series, Class or Tranche of Notes, and payment is permitted by the subordination provisions of the accelerated Series, Class or Tranche of Notes.

Indenture Trustee May Elect to Hold the Collateral. Following an acceleration of any Series, Series or Class or Tranche of Notes, the Indenture Trustee may elect to continue to hold the Collateral and apply distributions on the Collateral in accordance with the regular distribution provisions pursuant to the relevant allocation provisions of the Servicing Agreement, except that principal will be paid on the accelerated Series, Series or Class or Tranche of Notes to the extent funds are received and allocated to the accelerated Series, Series or Class or Tranche of Notes, and payment is permitted by the subordination provisions of the accelerated Series, Series or Class or Tranche of Notes.

Indenture Trustee May Elect to Hold the Collateral. Following an acceleration of any Series, Class or Tranche of Notes, the Indenture Trustee may elect to continue to hold the Collateral and apply distributions on the Collateral in accordance with the regular distribution provisions pursuant to the relevant allocation provisions Article V of the Servicing Agreementthis Indenture, except that principal will be paid on the accelerated Series, Class or Tranche of Notes to the extent funds are received from the Collateral and allocated to the accelerated Series, Class or Tranche of NotesTranche, and payment is permitted by the subordination provisions of the accelerated Series, Class or Tranche of NotesTranche.

Indenture Trustee May Elect to Hold the Collateral. Following an acceleration of any Series, Class or Tranche of Notes, the Indenture Trustee may elect to continue to hold the Collateral and apply distributions on the Collateral in accordance with the regular distribution provisions pursuant to the relevant allocation provisions of the Transfer and Servicing Agreement, except that principal will be paid on the accelerated Series, Class or Tranche of Notes to the extent funds are received and allocated to the accelerated Series, Class or Tranche of Notes, and payment is permitted by the subordination provisions of the accelerated Series, Class or Tranche of Notes.