Realization Upon Default. (a) The Trustee, on behalf of the Unitholders, shall assert claims under the Underlying Securities or the Permitted Investments, and shall take such reasonable steps as are necessary to receive payment or to permit recovery thereunder with respect to any default, subject in all cases to the terms of Article X.
(b) If the Trustee is unable to obtain full recovery in respect of a defaulted Underlying Security or Permitted Investment, the Trustee shall follow or cause to be followed such normal practices and procedures as it deems necessary or advisable to realize upon such defaulted Underlying Security or Permitted Investment, subject in all cases to the terms of Article X.
(c) If there is an event of default (as defined in the indenture or other document pursuant to which the Underlying Securities were issued) with respect to any Underlying Security and such default is known to the Trustee, the Trustee shall promptly give notice to the Unitholders thereof as promptly as practicable as provided in Section 12.05 hereof, and in the manner and to the extent provided in TIA Section 313(c)) within 90 days after such event of default occurs.
Realization Upon Default. (a) The Trustee, on behalf of the Holders, shall assert claims under the Underlying Securities or the Permitted Investments, and shall take such reasonable steps as are necessary to receive payment or to permit recovery thereunder with respect to any default, subject in all cases to the terms of Article X.
(b) If the Trustee is unable to obtain full recovery in respect of a defaulted Underlying Security or Permitted Investment, the Trustee shall follow or cause to be followed such normal practices and procedures as it deems necessary or advisable to realize upon such defaulted Underlying Security or Permitted Investment, subject in all cases to the terms of Article X.
(c) If there is an event of default (as defined in the Underlying Security Indenture) with respect to any Underlying Security and such default is known to the Trustee, the Trustee shall promptly give notice to the Holders thereof as promptly as practicable as provided in Section 12.05 hereof, and in the manner and to the extent provided in TIA Section 313(c)) within 90 days after such event of default occurs.
(d) Except as otherwise expressly provided in the applicable prospectus supplement and the Terms Schedule attached hereto, if the proceeds of any liquidation of the defaulted Deposited Assets are less than the sum of (i) the outstanding principal balance of the defaulted Deposited Asset, (ii) interest accrued but unpaid thereon at the applicable interest rate and (iii) the aggregate amount of expenses incurred by the Trust Administrator and the trustee in connection with such proceedings to the extent reimbursable from the assets of the trust under the trust agreement, the trust will realize a loss in the amount of such difference.
(e) Only if and to the extent provided in the applicable prospectus supplement and in the Terms Schedule attached hereto, the Trust Administrator or trustee, as so provided, will be entitled to withdraw or cause to be withdrawn from the related Certificate Account out of the net proceeds recovered on any defaulted Deposited Asset, prior to the distribution of such proceeds to certificateholders, amounts representing its normal administrative compensation on the Deposited Asset, unreimbursed administrative expenses incurred with respect to the Deposited Asset and any unreimbursed advances of delinquent payments made with respect to the Deposited Asset.
Realization Upon Default. 37 ARTICLE IX Trust Wind-Up Events
Realization Upon Default. Whenever the Pledge has become enforceable, the Collateral Agent may at any time realize upon or otherwise dispose of the Debenture by sale, transfer and/or delivery and/or exercise and/or enforce any and all rights and remedies of a holder of the Debenture as if the Collateral Agent was the absolute owner thereof, without notice to or control by the Corporation (except as may be required by applicable Law) and any such remedy may be exercised separately or in combination and shall be in addition to and not in substitution for any rights the Collateral Agent may have, however created.
Realization Upon Default. Upon the occurrence of an Event of Default, Bank may, without demand of performance or other demand, advertisement, or notice of any kind (except the notice specified below of time and place of public or private sale) to or upon the Pledgor or any other person (all of which are, to the extent permitted by law, hereby expressly waived), forthwith realize upon the Pledged Stock or any part thereof, and may forthwith sell or otherwise dispose of and deliver the Pledged Stock, or any part thereof or interest therein, in one or more parcels at public or private sale or sales, at any exchange, broker’s board or at any of Bank’s offices or elsewhere, at such prices and on such terms (including, but without limitation, a requirement that any purchaser of all or any part of the Pledged Stock purchase the shares constituting the Pledged Stock for investment and without any intention to make a distribution thereof) as it may deem best, for cash or on credit, or for future delivery without assumption of any credit risk, with the right to Bank or any purchaser to purchase upon any such sale the whole or any part of the Pledged Stock free of any right or equity of redemption in the Pledgor, which right or equity is hereby expressly waived and released.
Realization Upon Default. (a) The Trustee, on behalf of the Certificateholders, shall assert claims under the Securities, the Credit Support, the Swap Agreement, any Swap Guarantee and the Permitted Investments, and shall take such reasonable steps as may be necessary to receive payment or to permit recovery thereunder in the case of any Security Default, Credit Support Default, Swap Default or any default related to the Permitted Investments, as the case may be, subject in all cases to Article X.
(b) If the Trustee is unable to obtain full recovery in respect of a Security, Credit Support, Swap Agreement, Swap Guarantee or Permitted Investment affected by a Security Default, Credit Support Default, Swap Default or default related to such Permitted Investment, as the case may be, the Trustee shall follow or cause to be followed such normal practices and procedures as it may deem necessary or advisable to realize upon such Security, Credit Support, Swap Agreement, Swap Guarantee or Permitted Investment, as the case may be, subject in all cases to Article X.
(c) If the Trustee becomes aware of any Security Default, Credit Support Default, Swap Default or default related to any Permitted Investment, it shall give notice thereof to the Certificateholders as promptly as practicable in accordance with Section 12.05, and in the manner and to the extent provided in TIA Section 313(c) within 90 days after such default occurs. 44 51 ARTICLE IX
Realization Upon Default. If an Event of Default shall occur, and for so long as it is continuing, the Collateral Agent may realize upon or otherwise dispose of the Debentures or either of them by sale, transfer or delivery or exercise and enforce all rights and remedies of a holder of either of the Debentures as if the Collateral Agent were absolute owner thereof, without notice to or control by the Corporation and any such remedy may be exercised separately or in combination and shall be in addition to and not in substitution for any other rights the Collateral Agent may have, however created.
Realization Upon Default. The Trustee, on behalf of the Certificateholders, shall assert claims under the Securities, the Credit Support, the Swap Agreement, any Swap Guarantee and the Permitted Investments, and shall take such reasonable steps as may be necessary to receive payment or to permit recovery thereunder in the case of any Security Default, Credit Support Default, Swap Default or any default related to the Permitted Investments, as the case may be, subject in all cases to Article X.
Realization Upon Default. Upon the occurrence and during the continuance of the Purchaser’s default under the Promissory Note, being for greater the certainty the non-payment and/or receipt of funds due and payable under the Promissory Note pursuant to the terms of the Promissory Note and the Stock Purchase Agreement (an “Event of Default”), the Vendor may at any time after five (5) days following the date established for a payment under the Promissory Note (an “Uncured Default”) in its sole discretion, seize the Pledged Shares, realize upon or otherwise dispose of the Pledged Shares by sale, transfer or delivery, or exercise and enforce all rights and remedies of a holder of the Pledged Shares as if the Vendor was the absolute owner thereof, without notice to or control by the Corporation, and such remedy may be exercised separately or in combination and shall not be in substitution for any other rights the Vendor may have under the Promissory Note, the Stock Purchase Agreement or otherwise, however created.
Realization Upon Default. 42 ARTICLE IX Trust Wind-Up Events and Liquidation Events
