Common use of Notice to Bond Owners of Default Clause in Contracts

Notice to Bond Owners of Default. If an Event of Default hereunder or under the Installment Sale Agreement occurs with respect to any Bonds of which the Trustee has been given or is deemed to have notice, as provided in Section 6.02(k) hereof, then the Trustee shall, within 30 days of the receipt of such notice, give written notice thereof by first class mail to the Owner of each such Bond, unless such Event of Default shall have been cured before the giving of such notice; provided, however, that unless such Event of Default consists of the failure by the Authority to make any payment when due, the Trustee may elect not to give such notice if and so long as the Trustee in good faith determines that it is in the best interest of the Bond Owners not to give such notice.

Notice to Bond Owners of Default. If an Event of Default hereunder or under the Installment Sale Agreement occurs with respect to any Bonds of which the Trustee has been given or is deemed to have notice, as provided in Section 6.02(k6.02(h) hereof, then the Trustee shall, shall within no more than 30 days of the receipt of such notice, occurrence give written notice thereof by first first- class mail to the Owner of each such Bond, unless such Event of Default shall have has been cured before the giving of such notice; provided, provided however, that unless such Event of Default consists of the failure by the Authority to make any payment when due, the Trustee may elect not to give such notice if and so long as the Trustee in good faith determines that it is in the best interest interests of the Bond Owners not to give such notice.

Notice to Bond Owners of Default. If an Event of Default hereunder or under the Installment Sale Agreement Lease occurs with respect to any Bonds of which the Trustee has been given or is deemed to have notice, as provided in Section 6.02(k) hereof, then the Trustee shall, within 30 days of the receipt of such notice, give written notice thereof by first class mail to the Owner of each such Bond, unless such Event of Default shall have been cured before the giving of such notice; provided, however, that unless such Event of Default consists of the failure by the Authority to make any payment when due, the Trustee may elect not to give such notice if and so long as the Trustee in good faith reasonably determines that it failure to provide such notice is in the best interest interests of the Bond Owners not to give such notice.Owners.‌

Notice to Bond Owners of Default. If an Event of Default hereunder or under the Installment Sale Agreement occurs with respect to any Bonds of which the Trustee has been given or is deemed to have notice, as provided in Section 6.02(k7.02(k) hereof, then the Trustee shall, in addition to any notice required under Section 12.09 hereof, within 30 days of the receipt of such notice, give written notice thereof by first class mail to the Owner of each such BondBond and to the Bond Insurer, unless such Event of Default shall have been cured before the giving of such notice; provided, however, that unless such Event of Default consists of the failure by the Authority Agency to make any payment when due, the Trustee may elect not to give such notice to the Owners (but shall give such notice to the Bond Insurer) if and so long as the Trustee in good faith determines that it is in the best interest interests of the Bond Owners not to give such notice.

Notice to Bond Owners of Default. If an Event of Default hereunder or under the Installment Sale Agreement Lease occurs with respect to any Bonds of which the Trustee has been given or is deemed to have notice, as provided in Section 6.02(k) hereof, then the Trustee shall, within 30 days of the receipt of such notice, give written notice thereof by first class mail to the Owner of each such Bond, unless such Event of Default shall have been cured before the giving of such notice; provided, however, that unless such Event of Default consists of the failure by the Authority Agency to make any payment when due, the Trustee may elect not to give such notice if and so long as the Trustee in good faith determines that it is in the best interest of the Bond Owners not to give such notice.