Common use of Judicial Proceedings Instituted by Trustee Clause in Contracts

Judicial Proceedings Instituted by Trustee. (a) If there shall be a failure to make payment of the principal of, premium, if any, or interest on any Equipment Note, then the Trustee, in its own name, and as trustee of an express trust, as holder of such Equipment Notes, shall be, to the extent permitted by and in accordance with the terms of the Transaction Documents, entitled and empowered to institute any suits, actions or proceedings at law, in equity or otherwise, for the collection of the sums so due and unpaid on such Equipment Notes and may prosecute any such claim or proceeding to judgment or final decree with respect to the whole amount of any such sums so due and unpaid.

Judicial Proceedings Instituted by Trustee. (a) Trustee May Bring Suit. If there shall be a failure to make ---------------------- payment of the principal of, premiumof or interest on a Note or Make-Whole Amount, if any, or interest on any Equipment Note, when due and payable then the Trustee, in its own name, and as trustee of an express trust, as holder of such Equipment Notes, shall be, to the extent permitted by and in accordance with the terms of this Indenture and the Transaction DocumentsNotes, entitled and empowered to institute any suits, actions or proceedings at law, in equity or otherwise, for the collection of the sums so due and unpaid on such Equipment Notes or under this Indenture and may prosecute any such claim or proceeding to judgment or final decree with respect to the whole amount of any such sums so due and unpaid.