Common use of Termination upon Purchase or Liquidation of All Deposited Assets Clause in Contracts

Termination upon Purchase or Liquidation of All Deposited Assets. (a) The respective obligations and responsibilities under this Agreement of the Depositor, the Administrative Agent, if any, and the Trustee (other than the obligations of any such Administrative Agent to provide for and the Trustee to make distributions to Holders of the Certificates of any given Series as hereafter set forth) shall terminate upon the distribution to such Holders of all amounts held in all the Accounts for such Series or by an Administrative Agent, if any, and required to be paid to such Holders pursuant to this Agreement on the Distribution Date coinciding with or following the earlier to occur of (i) if and as provided in the Series Supplement for such Series, the purchase by, and at the sole option of, the Administrative Agent, if any, or the Depositor, as provided in the Series Supplement for such Series, of all remaining Deposited Assets for such Series in the Trust for such Series on any Distribution Date, provided that such option may be exercised only if the aggregate principal amount of such Deposited Assets at the time of any such purchase is less than 10% (or such other percentage as may be specified in such Series Supplement) of the aggregate principal amount of all Deposited Assets deposited in such Trust as of the applicable Cut-off Date and (ii) the final payment on or other liquidation (which may include redemption or other purchase thereof by the applicable Term Assets Issuer) (or any Advance with respect thereto) of the last Deposited Asset remaining in the Trust for such Series or the disposition of all property acquired upon foreclosure or liquidation of any such Deposited Asset; provided, however, that in no event shall the trust created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. Xxxxx, living on the date hereof.

Termination upon Purchase or Liquidation of All Deposited Assets. (a) The respective obligations and responsibilities under this Agreement of the Depositor, the Administrative AgentAdministrator, if any, and the Trustee (other than the obligations of any such Administrative Agent Administrator to provide for and the Trustee to make distributions to Holders of the Certificates of any given Series as hereafter set forth) shall terminate and the Trust shall dissolve, if no Series are outstanding, upon the election of the Depositor and otherwise, upon the distribution to such Holders of all amounts held in all the Accounts for such Series or by an Administrative AgentAdministrator, if any, and required to be paid to such Holders pursuant to this Agreement on the Distribution Date coinciding with or following the earlier to occur of (i) if and as provided in the Series Supplement for such Series, the purchase by, and at the sole option of, the Administrative AgentAdministrator, if any, or the Depositor, as provided in the Series Supplement for such Series, of all remaining Deposited Assets for such each Series in the Trust for such each Series on any Distribution Date, provided that such option may be exercised only if the aggregate principal amount of such Deposited Assets at the time of any such purchase is less than 10% (or such other percentage as may be specified in such Series Supplement) of the aggregate principal amount of all Deposited Assets deposited in such the Trust as of the applicable Cut-off Date and (ii) the final payment on or other liquidation (which may include redemption or other purchase thereof by the applicable Term Assets Issuer) (or any Advance with respect thereto) of the last Deposited Asset remaining in the Trust for such Series or the disposition of all property acquired upon foreclosure or liquidation of any such Deposited Asset; providedPROVIDED, however, that in no event shall the trust created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx Jxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. XxxxxJxxxx, living on the date hereof.

Termination upon Purchase or Liquidation of All Deposited Assets. (a) The respective obligations and responsibilities under this Agreement of the Depositor, the Administrative AgentAdministrator, if any, and the Trustee (other than the obligations of any such Administrative Agent Administrator to provide for and the Trustee to make distributions to Holders of the Certificates of any given Series as hereafter set forth) shall terminate and the Trust shall dissolve, if no Series are outstanding, upon the election of the Depositor and otherwise, upon the distribution to such Holders of all amounts held in all the Accounts for such Series or by an Administrative AgentAdministrator, if any, and required to be paid to such Holders pursuant to this Agreement on the Distribution Date coinciding with or following the earlier to occur of (i) if and as provided in the Series Supplement for such Series, the purchase by, and at the sole option of, the Administrative AgentAdministrator, if any, or the Depositor, as provided in the Series Supplement for such Series, of all remaining Deposited Assets for such each Series in the Trust for such each Series on any Distribution Date, provided that such option may be exercised only if the aggregate principal amount of such Deposited Assets at the time of any such purchase is less than 10% (or such other percentage as may be specified in such Series Supplement) of the aggregate principal amount of all Deposited Assets deposited in such the Trust as of the applicable Cut-off Date and (ii) the final payment on or other liquidation (which may include redemption or other purchase thereof by the applicable Term Assets Issuer) (or any Advance with respect thereto) of the last Deposited Asset remaining in the Trust for such Series or the disposition of all property acquired upon foreclosure or liquidation of any such Deposited Asset; providedPROVIDED, however, that in no event shall the trust created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. XxxxxxxJoseph P. Kennedy, the late ambassador of the United States to the Court of St. Xxxxxtx xxx Xxxxx xx Xx. James, living on the date hereof.