Optional Preservation of the 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and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee shall, unless otherwise directed to by a majority of noteholders, elect to take and maintain possession of the Trust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 other obligations of the Issuer.
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Samples: Credit Suisse First Boston Mortgage Securities Corp, Nomura Home Equity Loan, Inc., PHH Mortgage Capital LLC
Optional Preservation of the 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and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee shall, unless otherwise directed to by a majority of noteholdersthe Voting Rights of the Notes, elect to take and maintain possession of the 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 other obligations of the Issuer.
Appears in 4 contracts
Samples: Indenture (CSFB Acceptance Corp Home Equity Loan Back Notes Ser 2003-A), Irwin Whole Loan Home Equity Trust 2005-B, Home Equity Loan-Backed Notes Series 2003-D
Optional Preservation of the 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and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee shallmay, unless otherwise directed to by a majority but need not (but shall at the written direction of noteholdersthe Enhancer), elect to take and maintain possession of the 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 other obligations of the Issuer.Issuer including payment to the Enhancer, and the Indenture Trustee shall take such desire into account when determining whether or not to take and maintain possession of the Trust
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Optional Preservation of the 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 shallTrustee, unless otherwise directed to by by, with respect to Loan Group 1, a majority of noteholdersthe Voting Rights of the Notes or, with respect to Loan Group 2, the Insurer, elect to take and maintain possession of the 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 other obligations of the Issuer.
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Samples: Master Agreement (Home Equity Mortgage Trust 2006-2)
Optional Preservation of the 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 shallTrustee, unless otherwise directed to by a majority of noteholdersthe Insurer, elect to take and maintain possession of the 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 other obligations of the Issuer.
Appears in 1 contract
Samples: Home Equity Mortgage Trust 2007-1