Common use of Sale of Collateral Debt Securities Clause in Contracts

Sale of Collateral Debt Securities. (a) Except as otherwise expressly permitted or required by this Indenture, the Issuer will not sell or otherwise dispose of any Collateral Debt Security. Notwithstanding the above, subject to satisfaction of any applicable conditions in Section 10.9, so long as (A) no Event of Default has occurred and is continuing and (B) on or prior to the trade date for such sale the Collateral Manager has certified to the Trustee that each of the conditions applicable to such sale set forth below has been satisfied, the Collateral Manager on behalf of the Issuer acting pursuant to the Collateral Management Agreement may, but shall not be obligated to, elect to sell any of the following securities and, if the Collateral Manager so elects to sell any of the following securities, shall direct the Trustee in writing to sell, and the Trustee shall sell in the manner directed by the Collateral Manager in writing (which writing shall specify whether such security is a Defaulted Security, Credit Risk Security or Equity Security, if applicable, or whether such security is otherwise permitted to be sold pursuant to this Section 12.1(a)):

Appears in 4 contracts

Samples: Taberna Realty Finance Trust, Taberna Realty Finance Trust, Taberna Realty Finance Trust

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