Common use of Rights in Respect of Insolvency Proceedings Clause in Contracts

Rights in Respect of Insolvency Proceedings. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any scheduled payment of principal of or interest on a Note has been voided in whole or in part as a preference payment under applicable bankruptcy law, the Indenture Trustee shall so [notify the Securities Insurer, shall comply with the provisions of the Guaranty Policy to obtain payment by the Securities Insurer of such voided scheduled payment, and shall, at the time it provides notice to the Securities Insurer,] notify, by mail to Holders of the Notes that, in the event that any Holder's scheduled payment is so recovered, such Holder will be entitled to payment pursuant to the terms of the Policy, a copy of which shall be made available through the Indenture Trustee[, the Securities Insurer]or the Fiscal Agent, if any, and the Indenture Trustee shall furnish to the [Securities Insurer or its] Fiscal Agent, if any, its records evidencing the payments of principal of and interest on the Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Holders, and the dates on which such payments were made.

Rights in Respect of Insolvency Proceedings. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any scheduled payment of principal of or interest on a Note has been voided in whole or in part as a preference payment under applicable bankruptcy law, the Indenture Trustee shall so [notify the Securities Insurer, shall comply with the provisions of the Guaranty Policy to obtain payment by the Securities Insurer of such voided scheduled payment, and shall, at the time it provides notice to the Securities Insurer,] , notify, by mail to Holders of the Notes that, in the event that any Holder's scheduled payment is so recovered, such Holder will be entitled to payment pursuant to the terms of the Policy, a copy of which shall be made available through the Indenture Trustee[, the Securities Insurer]or Insurer or the Fiscal Agent, if any, and the Indenture Trustee shall furnish to the [Securities Insurer or its] its Fiscal Agent, if any, its records evidencing the payments of principal of and interest on the Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Holders, and the dates on which such payments were made.

Rights in Respect of Insolvency Proceedings. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any scheduled payment of principal of or interest on a Note has been voided in whole or in part as a preference payment under applicable bankruptcy law, the Indenture Trustee shall so [notify the Securities InsurerCredit Enhancer, shall comply with the provisions of the Guaranty Policy Credit Enhancement Instrument to obtain payment by the Securities Insurer Credit Enhancer of such voided scheduled payment, and shall, at the time it provides notice to the Securities Insurer,] Credit Enhancer, notify, by mail to Holders of the Notes that, in the event that any Holder's scheduled payment is so recovered, such Holder will be entitled to payment pursuant to the terms of the PolicyCredit Enhancement Instrument, a copy of which shall be made available through the Indenture Trustee[, the Securities Insurer]or Credit Enhancer or the Fiscal Agent, if any, and the Indenture Trustee shall furnish to the [Securities Insurer Credit Enhancer or its] its Fiscal Agent, if any, its records evidencing the payments of principal of and interest on the Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Holders, and the dates on which such payments were made.

Rights in Respect of Insolvency Proceedings. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any scheduled payment of principal of or interest on a Note has been voided in whole or in part as a preference payment under applicable bankruptcy law, the Indenture Trustee shall so [notify the Securities Insurer, shall comply with the provisions of the Guaranty Policy to obtain payment by the Securities Insurer of such voided scheduled payment, and shall, at the time it provides notice to the Securities Insurer,] notify, by mail to Holders of the Notes that, in the event that any Holder's ’s scheduled payment is so recovered, such Holder will be entitled to payment pursuant to the terms of the Policy, a copy of which shall be made available through the Indenture Trustee[, the Securities Insurer]or the Fiscal Agent, if any, and the Indenture Trustee shall furnish to the [Securities Insurer or its] Fiscal Agent, if any, its records evidencing the payments of principal of and interest on the Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Holders, and the dates on which such payments were made.