Common use of Optional Preservation of Trust Estate Clause in Contracts

Optional Preservation of Trust Estate. (a) If the Notes have been declared due and payable following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee shall apply all Remittances and other amounts receivable with respect to the Trust Estate, first, to the Issuer Expenses and then to the payment of the principal of and interest on the Notes as and when such principal and interest would have become due pursuant to the terms of Section 8.02(b) hereof and to such other purposes as are specified in this Indenture, with all such Remittances and other amounts being applied as if there had not been a declaration of acceleration of the Maturity of the Notes, provided that:

Optional Preservation of Trust Estate. (a) If the Notes have been declared due and payable following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee shall may apply all Remittances and other amounts receivable with respect to the Trust Estate, first, to the Issuer Expenses and then to the payment of the principal of and interest on the Notes as and when such principal and interest would have become due pursuant to the terms hereof and of Section 8.02(b) hereof the Notes and to such other purposes as are specified in this Indenture, with all such Remittances and other amounts being applied as if there had not been a declaration of acceleration of the Maturity of the Notes, provided that: