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 Depositor thereof. If within 30 days after such notification the Depositor has not given any instructions to the Trustee to sell or to hold such Bonds 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 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. If within 30 thirty days after such notification the Depositor has not given any instructions to the Trustee to sell or to hold such Bonds or has have not taken any other action in connection with such Bonds, the Trustee shall sell such Bonds forthwithforthwith in accordance with Sections 3.7 and 3.8, and neither the Trustee nor the Depositor 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 Depositor Depositors thereof. If within 30 thirty days after such notification the Depositor has Depositors have not given any instructions to the Trustee to sell or to hold such Bonds or has have not taken any other action in connection with such Bonds, the Trustee shall sell such Bonds forthwithforthwith in accordance with Sections 3.7 and 3.8, 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 Depositor thereof. If within 30 thirty days after such notification the Depositor has not given any instructions to the Trustee to sell or to hold such Bonds or has have not taken any other action in connection with such Bonds, the Trustee shall sell such Bonds forthwithforthwith in accordance with Sections 3.8 and 3.9, and neither the Trustee nor the Depositor shall not be liable or responsible in any way for depreciation or loss incurred by reason of such sale.