Unsalable Assets. After the Reinvestment Period: (i) Notwithstanding the restrictions of this Section 12.1 (Sales of Collateral Obligations) or Section 12.3 (Conditions Applicable to All Sale and Purchase Transactions), from time to time at the direction and with the assistance of the Collateral Manager, the Collateral Trustee, at the expense of the Issuer and upon receipt of the certificate described in the definition of "Unsalable Asset", will conduct an auction of one or more Unsalable Assets in accordance with the procedures described in clause (ii). (ii) promptly after receipt of such direction, the Collateral Trustee will provide notice (in such form as is prepared by the Collateral Manager) to the Holders of the Debt regarding an auction, setting forth in reasonable detail a description of each such Unsalable Asset and the following auction procedures: (A) any Holder of Debt that has provided a certificate in the form of Exhibit C may submit a written bid to purchase one or more such Unsalable Assets no later than the date specified in the auction notice (which shall be at least 15 Business Days after the date of such notice); (B) 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; (C) if no Holder submits such a bid, unless delivery in kind is not legally or commercially practicable, the Collateral Trustee at the direction of the Collateral Manager will provide notice thereof to each Holder and offer to deliver (at the cost of the Issuer) a pro rata portion of each unsold Unsalable Asset to the Holders of the most senior ranking Class of Debt that provide delivery instructions to the Collateral Trustee on or before the date specified in such notice, subject to the minimum denominations. To the extent that minimum denominations do not permit a pro rata distribution, the Collateral Trustee at the direction of the Collateral Manager will distribute the Unsalable Assets on a pro rata basis to the extent possible and the Collateral Trustee at the direction of the Collateral Manager will select by lottery the Holder to whom the remaining amount will be delivered. The Collateral Trustee shall use commercially reasonable efforts to effect delivery of such interests; and (D) if no such Holder provides delivery instructions to the Collateral Trustee, the Collateral Trustee will promptly notify the Collateral Manager and offer to deliver (at the cost of the ...
Unsalable Assets. After the Reinvestment Period:
(i) Notwithstanding the restrictions of this Section 12.1 (Sales of Collateral Obligations) or Section 12.3
Unsalable Assets. (i) Notwithstanding the restrictions of this Section 12.1 (Sales of Collateral Obligations) or Section 12.3
