Common use of Optional Preservation of Trust Estate Clause in Contracts

Optional Preservation of Trust Estate. If (i) an Event of Default shall have occurred and be continuing with respect to the Notes and (ii) no Notes have been declared, or have automatically become, due and payable, or such declaration or automatic acceleration and its consequences have been annulled and rescinded, the Trustee, upon request from the Holders of a majority in principal amount of the Outstanding Notes, may elect, by giving written notice of such election to the Issuer, to take possession of and retain the Trust Estate securing the Notes intact, collect or cause the collection of the proceeds thereof and make and apply all payments and deposits and maintain all accounts in respect of such Notes in accordance with the provisions of Article Twelve of this Indenture. If the Trustee is unable to or is stayed from giving such notice to the Issuer for any reason whatsoever, such election shall be effective as of the time of such determination or request, as the case may be, notwithstanding any failure to give such notice, and the Trustee shall give such notice upon the removal or cure of such inability or stay (but shall have no obligation to effect such removal or cure). Any such election may be rescinded with respect to any portion of the Trust Estate securing the Notes remaining at the time of such rescission by written notice to the Trustee and the Issuer from the Holders of a majority in principal amount of the Notes Outstanding of the Controlling Class.

Optional Preservation of Trust Estate. If (ia) an Event of Default shall have occurred and be continuing with respect to the Notes and (iib) no Notes have been declared, or have automatically become, declared due and payable, or such declaration or automatic acceleration and its consequences have been annulled and rescinded, the TrusteeIndenture Trustee shall, upon request from the Holders of a majority in principal amount of the Outstanding NotesMajority Noteholders, may elect, elect by giving written notice of such election to the Issuer, to take possession of and retain the Trust Estate securing the Notes intact, collect or cause the collection of the proceeds thereof and make and apply all payments and deposits and maintain all accounts in respect of such Notes in accordance with the provisions of Article Twelve of this Indenture. If the Indenture Trustee is unable to or is stayed from giving such notice to the Issuer for any reason whatsoever, such election shall be effective as of the time of such determination or request, as the case may be, notwithstanding any failure to give such notice, and the Indenture Trustee shall give such notice upon the removal or cure of such inability or stay (but shall have no obligation to effect such removal or cure). Any such election may be rescinded with respect to any portion of the Trust Estate securing the Notes remaining at the time of such rescission by written notice to the Indenture Trustee and the Issuer from the Holders of a majority in principal amount of the Notes Outstanding of the Controlling ClassMajority Noteholders.

Optional Preservation of Trust Estate. If (i) an Event of Default shall have occurred and be continuing with respect to the Notes and (ii) no Notes have been declared, or have automatically become, due and payable, or such declaration or automatic acceleration and its consequences have been annulled and rescinded, the Trustee, upon request from the Holders of a majority in principal amount of the Outstanding Notes, may elect, by giving written notice of such election to the Issuer, to take possession of and retain the Trust Estate securing the Notes intact, collect or cause the collection of the proceeds thereof and make and apply all payments and deposits and maintain all accounts in respect of such Notes in accordance with the provisions of Article Twelve of this Indenture. If the Trustee is unable to or is stayed from giving such notice to the Issuer for any reason whatsoever, such election shall be effective as of the time of such determination or request, as the case may be, notwithstanding any failure to give such notice, and the Trustee shall give such notice upon the removal or cure of such inability or stay (but shall have no obligation to effect such removal or cure). Any such election may be rescinded with respect to any portion of the Trust Estate securing the Notes remaining at the time of such rescission by written notice to the Trustee and the Issuer from the Holders of a majority in principal amount of the Notes Outstanding of the Controlling ClassNotes.

Optional Preservation of Trust Estate. If (i) an Event of Default shall have occurred and be continuing with respect to the Notes and (ii) no Notes have been declared, or have automatically become, declared due and payable, payable or such declaration or automatic acceleration and its consequences have been are annulled and rescinded, the TrusteeTrustee may, and upon request from the Holders Noteholders of a majority in principal amount aggregate Note Principal Balance of the Outstanding Notes, may shall, elect, by giving written notice of such election to the Issuer, to take possession of and retain the Trust Estate securing the Notes intact, collect or cause the collection of the proceeds thereof and make and apply all payments and deposits and maintain all accounts in respect of such Notes in accordance with the provisions of Article Twelve of this IndentureEleven and Article Twelve. If the Trustee is unable to give or is stayed from giving such notice to the Issuer for any reason whatsoever, such election shall be effective as of the time of such determination or request, as the case may be, notwithstanding any failure to give such notice, and the Trustee shall give such notice upon the removal or cure of such inability or stay (but shall have no obligation to effect such removal or cure). Any such election may be rescinded with respect to any portion of the Trust Estate securing the Notes remaining at the time of such rescission by written notice to the Trustee and the Issuer from the Holders Noteholders of a majority in principal amount aggregate Note Principal Balance of the Notes Outstanding of the Controlling ClassNotes.