Common use of Notice to Bondholders if Default Occurs Clause in Contracts

Notice to Bondholders if Default Occurs. Upon the occurrence of an Event of Default, or if an event occurs which could lead to a default with the passage of time and of which the Trustee is required to take notice pursuant to Section 7.02(1) hereof, the Trustee shall, within thirty (30) days, give written notice thereof by first class mail to the registered owners of all Bonds then Outstanding. Notwithstanding the foregoing, except in the case of default with respect to the payment of principal of or premium, if any, and interest on the Bonds, the Trustee shall be protected in withholding such notice if and so long as the board of directors of the Trustee, the executive committee, or a trust committee of directors or officers of the Trustee in good faith determines that the withholding of such notice is in the best interests of the Holders of the Bonds.

Notice to Bondholders if Default Occurs. Upon the occurrence of an Event of Default, or if an event occurs which could lead to a default an Event of Default with the passage of time and of which the Trustee is required to take notice pursuant to Section 7.02(17.02(l) hereof, the Trustee shall, within thirty (30) days, give written notice thereof by first class mail to the registered owners Owners of all Bonds then Outstanding. Notwithstanding the foregoing, except in the case of default an Event of Default with respect to the payment of principal of or premium, if any, and interest on the Bonds, the Trustee shall be protected in withholding such notice if and so long as the board of directors of the Trustee, the executive committee, or a trust committee of directors or officers of the Trustee in good faith determines that the withholding of such notice is in the best interests of the Holders of the Bonds.

Notice to Bondholders if Default Occurs. Upon the occurrence of an Event of Default, or if If an event of default occurs which could lead to a default with the passage of time and of which the Trustee is by subsection (g) of Section 1001 hereof required to take notice pursuant to Section 7.02(1or if notice of default be given as in said subsection (g) hereofprovided, then the Trustee shall, shall within thirty (30) days30 days of such notice, give written notice thereof by first class mail to the registered owners of all Bonds then Outstandingoutstanding shown by the registration books required by Section 209 hereof to be kept at the designated corporate trust office of the Trustee. Notwithstanding the foregoing, except in the case for events of default with respect to regarding the payment of principal of or of, premium, if any, and interest on the Bonds, the Trustee shall be protected in withholding such notice if and so long as the board Board of directors of the TrusteeDirectors, the executive committee, committee or a trust committee of directors or officers of the Trustee determines in good faith determines that the withholding of such notice is in the best interests of the Holders of the BondsBondholders.