Unsalable Assets. On any Business Day after the Reinvestment Period, the Collateral Manager on behalf of the Issuer, in its sole discretion, may provide written direction to the Trustee to conduct an auction on behalf of the Issuer of Unsalable Assets in accordance with the procedures 180 described in this clause (i). Promptly after receipt of written direction from the Collateral Manager directing the Trustee to conduct such auction, the Trustee will provide notice of an auction to the Noteholders, setting forth in reasonable detail a description of each Unsalable Asset and the following auction procedures: (i) any Noteholder may submit a written bid within 10 Business Days after the date of such notice to purchase one or more Unsalable Assets no later than the date specified in the auction notice (which will be at least 15 Business Days after the date of such notice); (ii) each bid must include an offer to purchase for a specified amount of cash on a proposed settlement date no later than 20 Business Days after the date of the auction notice; (iii) if no Holder submits such a bid within the time period specified under clause (h) above, unless delivery in-kind is not legally or commercially practicable and provides prior written notice thereof to the Trustee, the Trustee will provide notice thereof to each Holder and offer to deliver (at such Holder's expense) a pro rata portion of each unsold Unsalable Asset to the Holders of the most senior Class that provide delivery instructions to the Trustee on or before the date specified in such notice, subject to minimum denominations; provided that, to the extent that minimum denominations do not permit a pro rata distribution, the Trustee will distribute the Unsalable Assets on a pro rata basis to the extent possible and the Trustee will select by lottery the Holder to whom the remaining amount will be delivered and deliver written notice thereof to the Trustee; provided, further, that the Trustee will use commercially reasonable efforts to effect delivery of such interests; and (iv) if no such Holder provides delivery instructions to the Trustee, the Trustee will promptly notify the Collateral Manager and offer to deliver the Unsalable Asset to the Collateral Manager. If the Collateral Manager declines such offer, the Trustee will take such action as directed by the Collateral Manager (on behalf of the Issuer) in writing to dispose of the Unsalable Asset, which may be by donation to a charity, abandonment or other means.
Unsalable Assets. After the Reinvestment Period:
Unsalable Assets. (i) Notwithstanding the restrictions of this Section 12.1 (Sales of Collateral Obligations) or Section 12.3
