Common use of Notice and Sale by Trustee Clause in Contracts

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 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 Depositor thereof. If within thirty days after such notification the Depositors have Depositor has 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 Depositor 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 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 Depositor thereof. If within thirty 30 days after such notification the Depositors have Depositor has not given any instructions to the Trustee to sell or to hold such Bonds or have has not taken any other action in connection with such Bonds, the Trustee shall sell such Bonds forthwith in accordance with Sections 3.7 and 3.8forthwith, and neither the Trustee nor the Depositors 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 Depositor thereof. If within thirty days after such notification the Depositors have Depositor has 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 3.8 and 3.83.9, and neither the Trustee nor the Depositors Depositor shall be liable or responsible in any way for depreciation or loss incurred by reason of such sale.