Common use of Limitations on Permitted Sales Clause in Contracts

Limitations on Permitted Sales. If, with respect to any investment of funds in a Custodial Account, both (i) the rating accorded by the applicable rating agency to the applicable issuer or to the investment declines by two rating levels after acquisition of the investment and (ii) as a result of the decline, the investment ceases to be an Eligible Investment, then the Primary Servicer is required to cause that nonconforming investment to be sold as soon as practicable. Otherwise, except for correction of investments made in violation of this Trust Agreement, no investment may be sold prior to its maturity while in the Custodial Account.‌

Limitations on Permitted Sales. If, with respect to any investment of funds in a Custodial Account, both (i) the rating accorded by the applicable rating agency to the applicable issuer or to the investment declines by two rating levels after acquisition of the investment and (ii) as a result of the decline, the investment ceases to be an Eligible Investment, then the Primary Direct Servicer is required to cause that nonconforming investment to be sold as soon as practicable. Otherwise, except for correction of investments made in violation of this Trust Agreement, no investment may be sold prior to its maturity while in the Custodial Account.‌Account.

Limitations on Permitted Sales. If, with respect to any investment of funds in a Custodial Account, both (i) the rating accorded by the applicable rating agency to the applicable issuer or to the investment declines by two rating levels after acquisition of the investment and (ii) as a result of the decline, the investment ceases to be an Eligible Investment, then the Primary Servicer is required to cause that nonconforming investment to be sold as soon as practicable. Otherwise, except for correction of investments made in violation of this Trust Agreement, no investment may be sold prior to its maturity while in the Custodial Account.‌Account.