Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion of the Collateral which secures such Notes and apply proceeds of the Collateral to make payments on such Notes to the extent such proceeds are available therefor. In determining whether to maintain possession of the Collateral, Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 4 contracts
Samples: Master Indenture (First National Funding LLC), Master Indenture (First National Funding LLC), Master Indenture (First National Master Note Trust)
Optional Preservation of the Collateral. If the Notes ---------------------------------------- of any all Series have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Note Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and premium, if any, and interest on the Notes, and the Note Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, Indenture the Note Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 4 contracts
Samples: Pg&e Funding LLC, Pg&e Funding LLC, Sce Funding LLC
Optional Preservation of the Collateral. If the Notes of any Series --------------------------------------- have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of interest and, ultimately, principal on and any Deferred Amounts with respect to the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 3 contracts
Samples: Indenture (Firstplus Investment Corp), Indenture (Firstplus Investment Corp), Indenture (Firstplus Investment Corp)
Optional Preservation of the Collateral. If the Notes --------------------------------------- of any all Series have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Note Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and premium, if any, and interest on the Notes, and the Note Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, Indenture the Note Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 3 contracts
Samples: Sce Funding LLC, Sce Funding LLC, Sdg&e Funding LLC a De Limited Liability Co
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 SECTION 5.02 hereof following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 3 contracts
Samples: Indenture (Painewebber Mortgage Acceptance Corporation Iv), Painewebber Mort Accept Corp Iv Empire Funding 1999-1, Franchise Finance Corp of America
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 5.2(a) following an Event of Default and such declaration and its consequences have not been rescinded and annulledannulled in accordance with Section 5.2(b), and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to take and maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes desire into account when determining whether or not to take and apply proceeds maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to take and maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 2 contracts
Samples: Indenture (Navistar Financial Retail Receivables Corporation), Navistar Financial Retail Receivables Corporation
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion (at the expense of the Issuer) of an Independent investment banking or accounting firm of national reputation as to the feasibility of Of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 2 contracts
Samples: Indenture (Fieldstone Mortgage Investment CORP), Indenture (NYMT Securities CORP)
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of interest and, ultimately, principal on and any Deferred Amounts with respect to the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 2 contracts
Samples: Indenture (Bear Stearns Asset Backed Securities Inc), Execution (Firstplus Investment Corp)
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral and continue to apply the proceeds thereof as if there had been no declaration of acceleration in the manner specified in Section 5.04 of the Collateral which secures such Notes Sale and apply proceeds Servicing Agreement. It is the desire of the Collateral parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such desire into account when determining whether or not to make payments on such Notes to maintain possession of the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 2 contracts
Samples: California Republic (California Republic Auto Receivables Trust 2018-1), California Republic (California Republic Auto Receivables Trust 2018-1)
Optional Preservation of the Collateral. If the --------------------------------------- Notes of any Series have been declared to be due and payable under Section 5.03 5.02 hereof ------------ following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 2 contracts
Samples: Ace Securities Corp, Ascent Entertainment Group Inc
Optional Preservation of the Collateral. If the Notes of any --------------------------------------- all Series have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Note Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and premium, if any, and interest on the Notes, and the Note Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, Indenture the Note Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Samples: Indenture (Sierra Pacific Power Co)
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 ------- 5.02 hereof following an Event of Default and such declaration and its ---- consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Samples: Fremont Mortgage Securities Corp
Optional Preservation of the Collateral. If the ---------------------------------------- Notes of any all Series have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Note Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and premium, if any, and interest on the Notes, and the Note Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, Indenture the Note Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Optional Preservation of the Collateral. If the Notes of any Series have --------------------------------------- been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of interest and, ultimately, principal on and any Deferred Amounts with respect to the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 5.2 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion (at the expense of the Issuer) of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Optional Preservation of the Collateral. If the Notes of any Series --------------------------------------- have been declared to be due and payable under Section 5.03 5.02 hereof following ------------ an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and be fully protected in relying conclusively rely upon an opinion (at the expense of the Issuer) of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Samples: Fieldstone Mortgage Investment CORP
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and the Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, the Indenture Trustee may, but need not, elect to maintain possession of the portion of the Collateral which secures such Notes and apply proceeds Notes. It is the desire of the Collateral parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such desire into account when determining whether or not to make payments on such Notes to maintain possession of the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Samples: Master Indenture (Associates Credit Card Receivables Corp)
Optional Preservation of the Collateral. If the Notes of any Series --------------------------------------- have been declared to be due and payable under Section 5.03 5.02 following an ------------ Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Optional Preservation of the Collateral. If the Notes of any Series have been --------------------------------------- declared to be due and payable under Section 5.03 5.2(a) following an Event of Default and such declaration and its consequences have not been rescinded and annulledannulled in accordance with Section 5.2(b), and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to take and maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes desire into account when determining whether or not to take and apply proceeds maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to take and maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 5.2 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and the Indenture Trustee shall, if directed by the Note Insurer (or if a Note Insurer Default has not received directions from occured and is continuing, the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, ) elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Owners that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Samples: Indenture (First Alliance Mortgage Loan Trust 1998-2)
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and rely conclusively rely upon an opinion (at the expense of the Issuing Entity) of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 5.2 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and the Indenture Trustee shall, if directed by the Note Insurer (or if a Note Insurer Default has not received directions from occurred and is continuing, the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, ) elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Owners that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Optional Preservation of the Collateral. If the Notes of any Series have been declared to be due and payable under Section 5.03 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, and Indenture Trustee has not received directions from the Noteholders pursuant to Section 5.12, Indenture Trustee may, but need not, elect to maintain possession of the portion Collateral. It is the desire of the Collateral which secures parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such Notes and apply proceeds desire into account when determining whether or not to maintain possession of the Collateral to make payments on such Notes to the extent such proceeds are available thereforCollateral. In determining whether to maintain possession of the Collateral, the Indenture Trustee may, but need not, obtain and be fully protected in relying conclusively rely upon an opinion (at the expense of the Issuing Entity) of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for such purpose.
Appears in 1 contract
Samples: Fieldstone Mortgage Investment CORP