Common use of Unconditional Rights of Noteholders to Receive Principal and Interest Clause in Contracts

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note will have the right, which is absolute and unconditional, to receive payment of the interest on such Note when due and principal of such Note on the Maturity Date (and such principal shall be due and payable on such Maturity Date) expressed in such Note and to institute suit for the enforcement of any such payment, and such right will not be impaired without the consent of such Holder; provided, however, that notwithstanding any other provision of this Indenture to the contrary, the obligation to pay principal of or interest on such Note or any other amount payable to any Noteholder will be without recourse to the Issuer (except to the Trust Estate), the Indenture Trustee, the Receivables Trust Trustee or any affiliate, officer, employee or director of any of them, and the obligation of the Issuer to pay principal of or interest on the Notes or any other amount payable to any Noteholder will be subject to Article VIII.

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note will have the right, which is absolute and unconditional, to receive payment of the principal of and interest on such Note when due and principal of such Note on the Stated Maturity Date (and such principal shall be due and payable on such Stated Maturity Date) expressed in such Note and to institute suit for the enforcement of any such payment, and such right will not be impaired without the consent of such Holder; provided, however, that notwithstanding any other provision of this Indenture to the contrary, the obligation to pay principal of or interest on such Note the Notes or any other amount payable to any Noteholder will be without recourse to the Issuer (except to the Trust Estate), the Indenture Trustee, the Receivables Trust Owner Trustee or any affiliate, officer, employee or director of any of them, and the obligation of the Issuer to pay principal of or interest on the Notes or any other amount payable to any Noteholder will be subject to Article VIII. It is understood and agreed that Noteholders will have recourse against the Issuer Loan Trustee to the extent of the Issuer Loan Trustee’s interests in the Loans.

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note will Each Noteholder shall have the right, right which is absolute and unconditional, unconditional to receive payment of the principal (and premium, if any) of and interest on such Note when due and principal in respect of such Note on the Maturity Date as such principal, interest (and such principal shall be premium, if any) become due and payable on such Maturity Date) expressed in such Note and to institute suit for the enforcement of any such payment, and such right will shall not be impaired without the consent of such Holder; Noteholder provided, however, that notwithstanding any other provision of this Indenture to Indenture, (i) the contrary, obligations of the obligation Issuer under each Note to pay principal of or interest on such any Note or any other amount payable to any Noteholder will shall be without recourse payable solely to the Issuer (except extent funds are available and allocated therefore pursuant to Article IV of the related Indenture Supplement from the Trust Estate), (ii) to the extent the funds described in clause (i) are insufficient or unavailable to pay any amounts that otherwise may be owing by the Issuer on any Note or to any Noteholder, those amounts shall not constitute a claim against the Issuer, the Indenture Trustee, the Receivables Trust Trustee Transferor or any affiliate, officer, employee or director of any of them, and the obligation other assets of the Issuer or the Transferor (including assets allocated to pay principal the Transferor) and (iii) the provisions of or interest on the Notes or any other amount payable to any Noteholder will be subject to Article VIIISection 5.05(c) shall apply.

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note will have the right, which is absolute and unconditional, to receive payment of the principal of and interest on such Note when due and principal of such Note on the Stated Maturity Date (and such principal shall be due and payable on such Stated Maturity Date) expressed in such Note and to institute suit for the enforcement of any such payment, and such right will not be impaired without the consent of such Holder; provided, however, that notwithstanding any other provision of this Indenture to the contrary, the obligation to pay principal of or interest on such Note the Notes or any other amount payable to any Noteholder will be without recourse to the Issuer (except to the Trust Estate), the Indenture Trustee, the Receivables Trust Owner Trustee or any affiliate, officer, employee or director of any of them, and the obligation of the Issuer to pay principal of or interest on the Notes or any other amount payable to any Noteholder will be subject to Article VIII.

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note will have the right, which is absolute and unconditional, to receive payment of the principal of and interest on such Note when due and principal of such Note on the Stated Maturity Date (and such principal shall be due and payable on such Stated Maturity Date) expressed in such Note and to institute suit for the enforcement of any such payment, and such right will not be impaired without the consent of such Holder; provided, however, that notwithstanding any other provision of this Indenture to the contrary, the obligation to pay principal of or interest on such Note the Notes or any other amount payable to any Noteholder will be without recourse to the Issuer Co-Issuers (except to the Trust Estate), the Indenture Trustee, the Receivables Trust Trustee Servicer or any affiliateAffiliate, officer, employee or director of any of them, and the obligation of the Issuer Co-Issuers to pay principal of or interest on the Notes or any other amount payable to any Noteholder will be subject to Article VIII.