Common use of Unconditional Right of Holders to Receive Principal and Interest Clause in Contracts

Unconditional Right of Holders to Receive Principal and Interest. Subject to the provisions of Section 3.06 hereof, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest on such Note on or after the respective due dates thereof expressed in such Note, in this Master Agreement or the related Series Supplement and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder; provided, however, that (x) if such Series is secured by any Series Support, then, so long as no Support Default shall have occurred and be continuing, no such suit shall be instituted and (y) in no event shall such right entitle any Holder to a payment from a source of funds other than the related Series Trust Estate.

Unconditional Right of Holders to Receive Principal and Interest. Subject to the provisions of Section 3.06 hereof, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest on such Note on or after the respective due dates thereof expressed in such Note, in this Master Agreement or the related Series Supplement and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder; provided, however, that (x) if such Series is secured by any Series Support, then, so long as no Series Support Provider Default shall have occurred and be continuing, no such suit shall be instituted and (y) in no event shall such right entitle any Holder to a payment from a source of funds other than the related Series Trust Estate.