Common use of Sale of Collateral for Accelerated Notes Clause in Contracts

Sale of Collateral for Accelerated Notes. (a) (i) If a Tranche of Notes has been accelerated pursuant to Section 602 of the Indenture following an Event of Default, the Indenture Trustee may, and at the direction of the Majority Holders of that Tranche of Notes will, sell Collateral (or interests therein) pledged for the benefit of Holders the Asset Pool 1 Notes in an amount up to the Nominal Liquidation Amount of the affected Tranche plus any accrued, past due or additional interest on the affected Tranche.

Sale of Collateral for Accelerated Notes. (a) (i) If a Tranche of Notes has been accelerated pursuant to Section 602 of the Indenture following an Event of Default, the Indenture Trustee may, and at the direction of the Majority Holders of that Tranche of Notes will, sell Collateral (or interests therein) pledged for the benefit of Holders the Asset Pool 1 One Notes in an amount up to the Nominal Liquidation Amount of the affected Tranche plus any accrued, past due or additional interest on the affected Tranche.

Sale of Collateral for Accelerated Notes. (a) (i) If a Tranche of the Notes has been are accelerated pursuant to Section 602 of the this Indenture following an Event of Default, the Indenture Trustee mayTrustee, and at the direction of the Majority Holders of that Tranche of Notes willHolders, will sell Collateral Receivables (or interests therein) pledged for the benefit of Holders the Asset Pool 1 Notes in an amount up to the Nominal Liquidation Amount of the affected Tranche plus any accrued, past due or additional interest on the affected Tranche).