Notice and Sale by Trustee. If at any time dividends, interest, principal or other payments, after declared and when due and payable, on any of the Securities shall not have been paid within thirty (30) days, the Trustee shall notify the Depositor thereof. If within thirty (30) days after such notification the Depositor has not given any instruction to sell or to hold or has not taken any other action in connection with such Securities, the Trustee may in its discretion sell such Securities forthwith, and the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of such sale.”
Notice and Sale by Trustee. If at any time dividends, interest, principal or other payments, after declared and when due and payable, on any of the Securities shall not have been paid within thirty (30) days, the Trustee shall notify the Depositor thereof. If within thirty
Notice and Sale by Trustee. If at any time there has been a failure by the issuer of any of the Securities to pay a dividend that is due and payable, the Trustee shall notify the Depositor thereof. If within thirty days after such notification the Trustee has not received any instruction from the Depositor to sell or to hold or to take any other action in connection with such Security, the Trustee shall sell such Security forthwith, and the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of such sale or by reason of any action or inaction in accordance with such written instructions of the Depositor. The Trustee shall promptly notify the Depositor of such action in writing and shall set forth therein the Security sold and the proceeds received therefrom.
Notice and Sale by Trustee. If at any time the principal of or interest on any of the Treasury Obligations shall be in default and not paid or provision for payment thereof shall not have been duly made within thirty days, the Trustee shall notify the Depositor thereof. If within thirty days after such notification the Depositor has not given any instruction to sell or to hold or has not taken any other action in connection with such Treasury Obligations, the Trustee may in its discretion sell such Treasury Obligations forthwith, and the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of such sale."
Notice and Sale by Trustee. If at any time there has been a failure to pay a declared dividend on the Fund Shares the Trustee shall notify the Depositor thereof. If within thirty days after such notification the Depositor has not given any written instruction to sell or to hold or has not taken any other action in connection with such Fund Shares, the Trustee shall sell such Fund Shares forthwith, and the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of such sale.
Notice and Sale by Trustee. If at any time the principal of or interest on any of the Bonds shall be in default and not paid or provision for payment thereof shall not have been duly made, the Trustee shall notify the Depositors thereof. If within thirty days after such notification the Depositors have not given any instructions to sell or to hold or have not taken any other action in connection with such Bonds, the Trustee shall sell such Bonds forthwith in accordance with Sections 3.7 and 3.8, and neither the Trustee nor the Depositors shall be liable or responsible in any way for depreciation or loss incurred by reason of such sale.
Notice and Sale by Trustee. If at any time the principal of or interest on any of the Securities shall be in default and not paid or provision for payment thereof shall not have been duly made, either pursuant to any Insurance thereon or otherwise, the Trustee shall notify the Depositor thereof. If within thirty days after such notification the Depositor has not given any instruction to sell or to hold or has not taken any other action in connection with such Securities, the Trustee shall sell such Securities forthwith, and the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of such sale.
Notice and Sale by Trustee. If at any time any amount payable to a Trust under any Option Agreement shall not have been paid, or the principal or interest on any of the Bonds shall be in default and not paid or provisions for payment thereof shall not have been duly made, within thirty days, the Trustee shall notify the Depositor thereof. If within thirty days after such notification the Depositor has not given any instruction to sell or to hold or has not taken any other action in connection with such Securities, the Trustee may in its discretion sell such Securities forthwith, and the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of such sale."
Notice and Sale by Trustee. If at any time the principal of or interest on any of the Bonds in a Trust shall be in default and not paid or provision for payment thereof shall not have been duly made, the Trustee shall notify the Depositor thereof, and, in addition, if the Trust is part of an insured series, the Trustee shall notify the Insurer of such Bonds and make claims for payments under the Insurance policy for the amounts due and not paid. If the Trust is part of an insured series, the Depositor shall determine whether the Insurance can be relied upon to maintain the interests of the Trust to at least as great an extent as a sale. If within thirty days after such notification the Depositor has not given any instruction to sell or to hold or has not taken any other action in connection with such Bonds, the Trustee shall sell such Bonds forthwith, and the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of such sale.
Notice and Sale by Trustee. If at any time the principal of or interest on any of the Bonds in the Trust shall be in default and not paid or provision for payment thereof shall not have been duly made, or there has been a failure by the issuer to pay a dividend that is due and payable, the Trustee shall notify the Depositor thereof. If within thirty days after such notification the Trustee has not received any instruction from the Depositor to sell or to hold or to take any other action in connection with such Securities, the Trustee shall sell such Securities forthwith, and the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of such sale or by reason of any action or inaction in accordance with such written instructions of the Depositor. The Trustee shall promptly notify the Depositor of such action in writing and shall set forth therein the Securities sold and the proceeds received therefrom.
