Common use of Optional Preservation of the Indenture Trust Estate Clause in Contracts

Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Indenture Trust Estate. It is the desire of the 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 to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 5 contracts

Samples: Indenture (Wells Fargo Student Loans Receivables I LLC), SMS Student Loan Trust 2000-B, Asset Backed Securities Corp

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Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Indenture Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest (including any Noteholders' Interest Basis Carryover) on the Notes, and the Indenture Trustee shall take such desire into account when determining whether to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 3 contracts

Samples: Indenture (Nellie Mae Education Loan Corp), Usa Group Secondary Market Services Inc, Usa Group Secondary Market Services Inc

Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 5.2 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Indenture Trust Estate. It is the desire of the 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 maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 2 contracts

Samples: Firstplus Investment Corp, Preferred Securitization Corp

Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 5.01 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Indenture Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, Notes and other obligations of the Issuer and the Indenture Trustee shall take such desire into account when determining whether or not to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Household Consumer Loan Trust 1997-2), Pooling and Servicing Agreement (Household Consumer Loan Trust 1997-1)

Optional Preservation of the Indenture Trust Estate. If the --------------------------------------------------- Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Indenture Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest (including any Noteholders' Interest LIBOR Carryover) on the Notes, and the Indenture Trustee shall take such desire into account when determining whether to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 1 contract

Samples: Signet Bank Maryland

Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, may elect to maintain possession of the Indenture Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest (including any Noteholders' Interest Basis Carryover) on the Notes, and the Indenture Trustee shall take such desire into account when determining whether to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 1 contract

Samples: Indenture (Uici)

Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Indenture Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest (including any Noteholders' Interest LIBOR Carryover) on the Notes, and the Indenture Trustee shall take such desire into account when determining whether to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 1 contract

Samples: Indenture (Signet Student Loan Trusts)

Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 5.01 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Indenture Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, Notes and other obligations of the Issuer and the Indenture Trustee shall take such desire into account when determining deter- mining whether or not to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained at the expense of the Issuer) of an Independent investment banking bank- ing or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Indenture Trust Estate for such purpose.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Household Consumer Loan Trust 1997-2)

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Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 5.01 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Indenture Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, Notes and other obligations of the Issuer and the Indenture Trustee shall take such desire into account when determining deter- mining whether or not to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Household Consumer Loan Trust 1997-1)

Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 5.2 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Indenture Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest (including any Noteholders' Interest T-Xxxx Carryover) on the Notes, and the Indenture Trustee shall take such desire into account when determining whether to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 1 contract

Samples: Efg Funding Corp

Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, (with the prior consent of the Insurer) may elect to maintain possession of the Indenture Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest (including any Noteholders' Interest Basis Carryover) on the Notes, and the Indenture Trustee shall take such desire into account when determining whether to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 1 contract

Samples: Uici

Optional Preservation of the Indenture Trust Estate. If the Notes have been declared to be due and payable under Section 5.02 9.1 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, may elect to maintain possession of the Indenture Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest (including any Noteholders' Interest Basis Carryover) on the Notes, and the Indenture Trustee shall take such desire into account when determining whether to maintain possession of the Indenture Trust Estate. In determining whether to maintain possession of the Indenture Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion (which shall be obtained 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 Indenture Trust Estate for such purpose.

Appears in 1 contract

Samples: Base Indenture (Uici)

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