Common use of Performance Upon Default Clause in Contracts

Performance Upon Default. None of the Agents shall have any duty or responsibility in case of any default by the Trust in the performance of its obligations (including, without limiting the generality of the foregoing, any duty or responsibility to accelerate all or any of the Notes or to initiate or to attempt to initiate any proceedings at law or otherwise or to make any demand for the payment thereof upon the Trust).

Performance Upon Default. None of the Agents shall have any duty or responsibility in the case of any default by the Trust Company in the performance of its obligations (including, without limiting the generality of the foregoing, any duty or responsibility to accelerate all or any of the Notes Notes, or to initiate or to attempt to initiate any proceedings at law or otherwise otherwise, or to make any demand for the payment thereof upon the TrustCompany).