Optional Preservation of Trust Estate. (a) If the Securities have been declared due and payable following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Trustee may, in its sole discretion, refrain from selling the Trust Estate and may apply all amounts received with respect to such Trust Estate to the payment of the principal of and interest on the Securities as and when such principal and interest would have become due pursuant to the terms hereof and of the Securities if there had not been a declaration of acceleration of the maturity of the Securities, provided that:
Appears in 7 contracts
Samples: Indenture (Transition Auto Finance Ii Inc), Subsidiary Agreement (Transition Auto Finance Iii Inc), Indenture (Transition Auto Finance Ii Inc)
