Preservation of Trust Estate. If an Event of Default shall have occurred and be continuing and no Bonds have been declared due and payable or such declaration and its consequences are rescinded and annulled, the Trustee may retain possession of the Trust Estate securing the Bonds intact, collect or cause the collection of the proceeds thereof and make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 Bonds in accordance with the provisions of Article III.
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Samples: Indenture (National Collegiate Trust 1996-S2), Indenture (National Collegiate Trust 1996-S2), Indenture (National Collegiate Trust 1996-S2)
Preservation of Trust Estate. If an Event of Default shall have occurred and be continuing and no Bonds have been declared due and payable or such declaration and its consequences are rescinded and annulled, the Trustee may with the consent of the Control Party, and shall if instructed by Control Party, retain possession of the Trust Estate securing the Bonds 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 Bonds in accordance with the provisions of Article III.
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