Common use of Notice and Sale by Trustee Clause in Contracts

Notice and Sale by Trustee. If at any time a dividend (once due and payable) on any of the Equity Securities 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 30 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 a dividend (once due and payable) on any of the Equity Securities 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 30 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 a dividend (once due and payable) on any of the Equity Securities 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 30 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 any amount payable to a dividend (once due and payable) on Trust under any of the Equity Securities Option Agreement shall not have been paid 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 30 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 a dividend (once due and payable) on any of the Equity Securities shall not have been paid paid, 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 30 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."