Common use of Rights Upon Event of Default; Notice Clause in Contracts

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph clause (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in In the case of any event described in clause (a), (b), (c), (d), (f) or (fg) of Section 5.01, and before a judgment or decree for payment an Event of Default with respect to the money due has been obtained by the Indenture Trustee as hereinafter Notes will be deemed to have occurred provided in Article V, the Required Holders may waive such Event of Default pursuant to a may be waived if the Indenture Trustee acting at the direction of the Required Holders provides written notice to the Issuer, Indenture Trustee and the ServicerServicer of such waiver. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSAIssuer, the ServicerOriginator, the Owner Trustee Servicer and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor Issuer occurs, pursuant to the Trust Agreement and the Pooling Transfer and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor Issuer shall promptly give written notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing prior to such sale by the Required Holders within 30 days after the Indenture Trustee's so notifying themHolders, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate liquidate, at the expense of the Issuer, the Collateral in a commercially reasonable manner and on commercially reasonable terms. The Indenture Trustee shall conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the commercial reasonableness of its action. The proceeds from any such sale, disposition or liquidation of Contracts (less all of the costs and expenses of the Indenture Trustee incurred in connection therewith) shall be deposited in the Collection Account and allocated as described in the Pooling Transfer and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph clause (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in In the case of any event described in clause (a), (b), (c), (d), (f) or (fg) of Section 5.01, and before a judgment or decree for payment an Event of Default with respect to the money due has been obtained by the Indenture Trustee as hereinafter Notes will be deemed to have occurred provided in Article V, the Required Holders may waive such Event of Default pursuant to a may be waived if the Required Holders provide written notice to the IssuerTrust Depositor, Indenture Trustee and the ServicerServicer of such waiver. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSAthe Originator, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling Transfer and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give written notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing prior to such sale by the Required Holders within 30 days after the Indenture Trustee's so notifying themHolders, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate liquidate, at the expense of the Trust, the Collateral in a commercially reasonable manner and on commercially reasonable terms. The Indenture Trustee shall conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the commercial reasonableness of its action. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling Transfer and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in In the case of any event described in clause (a), (b), (c), (d) ), or (f) above, an Event of Section 5.01, and before a judgment or decree for payment of Default with respect to the money due has been obtained by the Indenture Trustee as hereinafter Notes will be deemed to have occurred provided in Article V, the Required Holders may waive such Event of Default pursuant to a may be waived if the Required Holders provide written notice to the IssuerTrust Depositor, Indenture Trustee and the ServicerServicer of such waiver. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSAeach Originator, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling Sale and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying themHolders, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling Sale and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer Trust Depositor and the Owner Trustees (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in In the case of any event described in clause (a), (b), (c), (d) or (f) above, an Event of Section 5.01, and before a judgment or decree for payment of Default with respect to the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, Notes shall not be deemed to have occurred if the Required Holders may waive such Event of Default pursuant to a written notice to the IssuerTrust Depositor, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA[ ], the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer it has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying themHolders, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurredoccurred and is continuing, then and in every such case the unpaid principal amount of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurredoccurred and is continuing, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal amount of the Notes Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder Noteholders under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article VFive, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating AgenciesAgencies and the Swap Counterparty. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it a Responsible Officer of the Indenture Trustee shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's ’s so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's ’s so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer Issuer, the Class A-4 Swap Counterparty and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in In the case of any event described in clause (a), (b), (c), (d) or (f) above, an Event of Section 5.01, and before a judgment or decree for payment of Default with respect to the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, Notes shall not be deemed to have occurred if the Required Holders may waive such Event of Default pursuant to a written notice to the IssuerTrust Depositor, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSAthe Seller, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer it has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying themHolders, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in In the case of any event described in clause (a), (b), (c), (d) or (f) above, an Event of Section 5.01, and before a judgment or decree for payment of Default with respect to the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, Notes shall not be deemed to have occurred if the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSAFinancial, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer Issuer, the Class A-2 Swap Counterparty, the Class A-3 Swap Counterparty and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph clause (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in In the case of any event described in clause (a), (b), (c), (d), (f) or (fg) of Section 5.01, and before a judgment or decree for payment an Event of Default with respect to the money due has been obtained by the Indenture Trustee as hereinafter Notes will be deemed to have occurred provided in Article V, the Required Holders may waive such Event of Default pursuant to a may be waived if the Required Holders provide written notice to the IssuerTrust Depositor, Indenture Trustee and the ServicerServicer of such waiver. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSAthe Originator, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling Transfer and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give written notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing prior to such sale by the Required Holders within 30 days after the Indenture Trustee's so notifying themHolders, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate liquidate, at the expense of the Trust, the Collateral in a commercially reasonable manner and on commercially reasonable terms. The Indenture Trustee shall rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the commercial reasonableness of its action. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in In the case of any event described in clause (a), (b), (c), ) (d) or (f) above, an Event of Section 5.01, and before a judgment or decree for payment of Default with respect to the money due has been obtained by the Indenture Trustee as hereinafter Notes will be deemed to have occurred provided in Article V, the Required Holders may waive such Event of Default pursuant to a may be waived if the Required Holders provide written notice to the IssuerTrust Depositor, Indenture Trustee and the ServicerServicer of such waiver. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSAthe Seller, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling Sale and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying themHolders, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling Sale and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer Issuer, the Class A-3a Swap Counterparty and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSAFinancial, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.Insolvency

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it a Responsible Officer of the Indenture Trustee shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer Issuer, the Class A-3 Swap Counterparty and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer Trust Depositor and the Owner Trustees (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in In the case of any event described in clause (a), (b), (c), (d) or (f) above, an Event of Section 5.01, and before a judgment or decree for payment of Default with respect to the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, Notes shall not be deemed to have occurred if the Required Holders may waive such Event of Default pursuant to a written notice to the IssuerTrust Depositor, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer it has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying themHolders, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurredoccurred and is continuing, then and in every such case the unpaid principal amount of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurredoccurred and is continuing, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal amount of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder Noteholders under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in Article VFive, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it a Responsible Officer of the Indenture Trustee shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's ’s so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurredoccurred and is continuing, then and in every such case the unpaid principal amount of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurredoccurred and is continuing, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal amount of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder Noteholders under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in the case of any event described in clause (a), (b), (c), (d) or (f) of Section 5.01, and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article VFive, the Required Holders may waive such Event of Default pursuant to a written notice to the Issuer, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it a Responsible Officer of the Indenture Trustee shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's ’s so notifying them, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.

Rights Upon Event of Default; Notice. If an Event of Default referred to in subparagraph (e) of Section 5.01 has occurred, then and in every such case the unpaid principal of the Notes, together with interest accrued but unpaid thereon, and all other amounts due to the Noteholders under the Indenture, shall immediately and without further act become due and payable. If any other Event of Default has occurred, the Required Holders by written notice to the Indenture Trustee may require the Indenture Trustee to, or the Indenture Trustee may without such notice, declare by written notice to the Issuer Trust Depositor and the Owner Trustees (with a copy to the Trust Depositor and each Rating Agency) that the unpaid principal of the Notes together with interest accrued but unpaid thereon, and all other amounts due to the Noteholder under the Indenture shall immediately and without further act become due and payable. At any time after such declaration of acceleration of maturity has been made, in In the case of any event described in clause (a), (b), (c), (d) or (f) above, an Event of Section 5.01, and before a judgment or decree for payment of Default with respect to the money due has been obtained by the Indenture Trustee as hereinafter provided in Article V, Notes shall not be deemed to have occurred if the Required Holders may waive such Event of Default pursuant to a written notice to the IssuerTrust Depositor, Indenture Trustee and the Servicer. In the event a Responsible Officer of the Indenture Trustee has actual knowledge of an Event of Default, it shall give written notice thereof to the Trust Depositor, CFUSANFUSA, the Servicer, the Owner Trustee and the Rating Agencies. The Indenture Trustee shall not be deemed to have notice of an Event of Default unless it shall have received a written notice pursuant to this Section 5.02 or a Responsible Officer it has actual knowledge of an Event of Default. If an Insolvency Event relating to the Trust Depositor occurs, pursuant to the Trust Agreement and the Pooling and Servicing Agreement, on the day of such Insolvency Event, the Trust Depositor shall promptly give notice in writing to the Indenture Trustee of the Insolvency Event, the Indenture Trustee shall, following receipt of such notice, notify the Noteholders in writing of such Insolvency Event and the Indenture Trustee shall, unless notified to the contrary in writing by the Required Holders within 30 days after the Indenture Trustee's so notifying themHolders, promptly act pursuant to and in accordance with the terms thereof to sell, dispose of or otherwise liquidate the Collateral in a commercially reasonable manner and on commercially reasonable terms. The proceeds from any such sale, disposition or liquidation of Contracts shall be deposited in the Collection Account and allocated as described in the Pooling and Servicing Agreement and herein. Promptly following its receipt of notice hereunder or under any other Transaction Document of any Event of Default, the Indenture Trustee shall send a copy thereof to the Issuer and each Rating Agency.