Common use of Acceleration of Maturity; Rescission and Annulment Clause in Contracts

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 74 contracts

Sources: Indenture (World Omni Auto Receivables Trust 2025-D), Indenture (World Omni Auto Receivables Trust 2025-D), Indenture (World Omni Select Auto Trust 2025-A)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Notes of the Controlling Securities may Class, acting together as a single Class, may, without the consent of the Certificateholder, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Notes of the Controlling SecuritiesClass, acting together as a single Class, without the consent of the Certificateholder, in each case, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all the respective Class of Notes and all other amounts that would then be due hereunder or upon such in accordance with the terms of the Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder or by the Owner Trustee under the Trust Agreement and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its the Owner Trustee and their respective agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal or interest of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 69 contracts

Sources: Indenture (Toyota Auto Receivables 2021-a Owner Trust), Indenture Agreement (Toyota Auto Receivables 2021-a Owner Trust), Indenture (Toyota Auto Receivables 2020-D Owner Trust)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes Noteholders representing at least a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Aa) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bb) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 45 contracts

Sources: Indenture (SLM Funding LLC), Indenture (SLM Funding LLC), Indenture (Navient Funding, LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 38 contracts

Sources: Indenture (Daimlerchrysler Services North America LLC), Indenture (Premier Auto Trust 1997-3), Indenture (Chrysler Financial Co LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Notes of the Controlling Securities may Class, acting together as a single Class, may, without the consent of the Certificateholder, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Notes of the Controlling SecuritiesClass, acting together as a single Class, without the consent of the Certificateholder, in each case, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all the respective Class of Notes and all other amounts that would then be due hereunder or upon such in accordance with the terms of the Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder or by the Owner Trustee under the Trust Agreement and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its the Owner Trustee and their respective agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of or interest on the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 36 contracts

Sources: Indenture (Toyota Auto Receivables 2025-C Owner Trust), Indenture (Toyota Auto Receivables 2025-C Owner Trust), Indenture (Toyota Auto Receivables 2025-B Owner Trust)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such NotesOutstanding Amount, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling SecuritiesAmount, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts amounts, in each case, that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent theretoto such default.

Appears in 33 contracts

Sources: Indenture (CNH Equipment Trust 2025-B), Indenture (CNH Equipment Trust 2025-B), Indenture (CNH Equipment Trust 2024-C)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur occurs and be is continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority not less than 51% of the aggregate Outstanding Amount of both Classes, in either case with the Controlling Securities consent of the Credit Enhancer, or the Credit Enhancer may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such that declaration the unpaid principal amount of such the Notes, together with accrued and unpaid interest thereon on them through the date of acceleration, shall become immediately due and payable. At any time after such the declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V providedTrustee, the Holders of Notes representing at least a majority not less than 51% of the aggregate Outstanding Amount of both Classes, with the Controlling Securitiesconsent of the Credit Enhancer, or the Credit Enhancer, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such the declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder under this Indenture or upon such on the Notes if the Event of Default giving rise to such the acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder under this Indenture and the reasonable compensation, expenses, disbursements disbursements, and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal or interest of the Notes that has have become due solely by such the acceleration, have been cured or waived as provided in Section 5.125.13. No such rescission shall affect any subsequent default or impair any right consequent theretoto it.

Appears in 27 contracts

Sources: Indenture (CWABS Revolving Home Equity Loan Trust, Series 2004-N), Indenture (CWABS Revolving Home Equity Loan Trust, Series 2004-L), Indenture (CWHEQ, Inc.)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesAmount, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 25 contracts

Sources: Indenture (American Honda Receivables Corp), Indenture (Honda Auto Receivables 2007-1 Owner Trust), Indenture (American Honda Receivables Corp)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should shall occur and be continuing, then and in every such case the Indenture Trustee may, or the Indenture Trustee as directed in writing by the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities may Notes shall, declare all the Notes to be then immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders)Issuer, and upon any such declaration the unpaid principal amount Outstanding Amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payablepayable as provided in the Notes. Notwithstanding anything to the contrary in this paragraph (a), if an Event of Default specified in clauses (iv) or (v) of Section 5.01 shall have occurred and be continuing the Notes shall become immediately due and payable at par, together with accrued interest thereon. (b) [Reserved.] (c) At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) A. all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) B. all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, expenses and disbursements and advances of the Indenture Trustee and its agents and counsel and the reasonable compensation, expenses and disbursements of the Owner Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 21 contracts

Sources: Indenture (BMW Vehicle Owner Trust 2025-A), Indenture (BMW Vehicle Owner Trust 2025-A), Indenture (BMW Fs Securities LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities Notes, voting as a single class may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, voting as a single class, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A1) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B2) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and. (iib) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 20 contracts

Sources: Indenture (Nissan Auto Receivables 2024-B Owner Trust), Indenture (Nissan Auto Receivables 2024-B Owner Trust), Indenture (Nissan Auto Receivables 2024-a Owner Trust)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Class may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesClass, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 18 contracts

Sources: Indenture (Chrysler Financial Auto Securitization Trust 2010-A), Indenture (Daimlerchrysler Auto Trust 2008-B), Indenture (DaimlerChrysler Auto Trust 2007-A)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur occurs and be is continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority not less than 51% of the aggregate Outstanding Amount Amount, in either case with the consent of the Controlling Securities Credit Enhancer, or the Credit Enhancer may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such that declaration the unpaid principal amount of such the Notes, together with accrued and unpaid interest thereon on them through the date of acceleration, shall become immediately due and payable. At any time after such the declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V providedTrustee, the Holders of Notes representing at least a majority not less than 51% of the aggregate Outstanding Amount Amount, with the consent of the Controlling SecuritiesCredit Enhancer, or the Credit Enhancer, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such the declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder under this Indenture or upon such on the Notes if the Event of Default giving rise to such the acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder under this Indenture and the reasonable compensation, expenses, disbursements disbursements, and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal or interest of the Notes that has have become due solely by such the acceleration, have been cured or waived as provided in Section 5.125.13. No such rescission shall affect any subsequent default or impair any right consequent theretoto it.

Appears in 17 contracts

Sources: Indenture (Cwabs Inc), Indenture (Cwabs Inc Revolving Home Eq Loan Ast Back Notes Ser 2003-D), Indenture (Cwabs Inc)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesAmount, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and; (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 15 contracts

Sources: Indenture (Honda Auto Receivables 2011-3 Owner Trust), Indenture (Honda Auto Receivables 2011-2 Owner Trust), Indenture (Honda Auto Receivables 2011-1 Owner Trust)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur shall have occurred and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority evidencing not less than 51% of the Outstanding Amount Note Balance of the Controlling Securities may Class may, upon prior written notice to each Rating Agency, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), the Depositor and the Servicer, and upon any such declaration the unpaid principal amount of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration . (b) If the Notes have been declared immediately due and payable following an Event of acceleration of maturity has been made and Default, before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedArticle, the Holders of Notes representing at least a majority evidencing not less than 51% of the Outstanding Amount Note Balance of the Controlling SecuritiesClass, by written notice to the Issuing Entity Issuer, the Depositor and the Indenture Trustee, may rescind and annul such declaration of acceleration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: pay (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and Notes, (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counselcounsel and (C) all other amounts that would then be due hereunder or upon the Notes if the Event of Default giving rise to such acceleration had not occurred; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 13 contracts

Sources: Indenture (Mercedes-Benz Auto Receivables Trust 2018-1), Indenture (Mercedes-Benz Auto Receivables Trust 2018-1), Indenture (Mercedes-Benz Auto Receivables Trust 2016-1)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default (other than an Event of Default under clause (vii) of Section 5.01(a)) should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Recovery Bonds may declare all the Notes Recovery Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Recovery Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling SecuritiesRecovery Bonds, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and premium, if any, and interest on all Notes Recovery Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Recovery Bonds if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes Recovery Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. . (c) No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 12 contracts

Sources: Indenture (RG&E Storm Funding LLC), Indenture (NYSEG Storm Funding LLC), Indenture (RG&E Storm Funding LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee Trustee, at the direction or upon the Holders of Notes representing at least a majority prior written consent of the Outstanding Amount of the Controlling Securities Majority Noteholders, may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration declaration, the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money moneys due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesMajority Noteholders, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) 1. all payments of principal of and and/or interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) 2. all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.125.12 hereof. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 11 contracts

Sources: Indenture (Capitalsource Inc), Indenture (H&r Block Inc), Indenture (H&r Block Inc)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default (other than an Event of Default under clause (vii) of Section 5.01(a)) should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Securitized Utility Tariff Bonds may declare all the Notes Securitized Utility Tariff Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Securitized Utility Tariff Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling SecuritiesSecuritized Utility Tariff Bonds, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and premium, if any, and interest on all Notes Securitized Utility Tariff Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Securitized Utility Tariff Bonds if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes Securitized Utility Tariff Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. . (c) No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 10 contracts

Sources: Indenture (Ameren Missouri Securitization Funding I, LLC), Indenture (Ameren Missouri Securitization Funding I, LLC), Indenture (Ameren Missouri Securitization Funding I, LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingcontinuing or if the Master Servicer shall purchase all of the Mortgage Loans pursuant to Section 8.08 of the Servicing Agreement, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount Security Balances of the Controlling Securities all Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Class of Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. Unless the prior written consent of the Credit Enhancer shall have been obtained by the Indenture Trustee, the Payment Date upon which such accelerated payment is due and payable shall not be a Payment Date under the Credit Enhancement Instrument and the Indenture Trustee shall not be authorized under Section 3.29 to make a draw therefor. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount Security Balances of the Controlling Securitiesall Notes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 10 contracts

Sources: Indenture (Painewebber Mortgage Acceptance Corporation Iv), Indenture (Citigroup Mortgage Loan Trust Inc), Indenture (WMC Secured Assets Corp)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingcontinuing or if the Master Servicer shall purchase all of the Mortgage Loans pursuant to Section 8.08 of the Servicing Agreement, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount Security Balances of the Controlling Securities all Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Class of Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. Unless the prior written consent of the Note Insurer shall have been obtained by the Indenture Trustee, the Payment Date upon which such accelerated payment is due and payable shall not be a Payment Date under the Note Insurance Policy and the Indenture Trustee shall not be authorized under Section 3.29 to make a draw therefor. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount Security Balances of the Controlling Securitiesall Notes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 9 contracts

Sources: Indenture (National City Mortgage Capital LLC), Indenture (Long Beach Securities Corp), Indenture (Long Beach Securities Corp)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingcontinuing or if the Master Servicer shall purchase all of the Home Equity Loans pursuant to Section 8.08 of the Servicing Agreement, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount Security Balances of all Notes with the written consent of the Controlling Securities Credit Enhancer, or, the Credit Enhancer may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such class of Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders of Notes representing at least a majority of the Outstanding Amount Security Balances of the Controlling Securitiesall Notes, by written notice to the Issuing Entity Issuer and the Indenture TrusteeTrustee with the written consent of the Credit Enhancer, or the Credit Enhancer, may in writing waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 9 contracts

Sources: Indenture (Home Equity Loan Trust 2006-Hsa3), Indenture (RFMSII Series 2006-Hsa2 Trust), Indenture (RFMSII Series 2005-Hsa1 Trust)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(g)) should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities Storm Recovery Bonds may declare all the Notes Storm Recovery Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee and the Commission if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Storm Recovery Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesStorm Recovery Bonds, by written notice to the Issuing Entity Issuer, the Commission and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and premium, if any, and interest on all Notes Storm Recovery Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Storm Recovery Bonds if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes Storm Recovery Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 9 contracts

Sources: Indenture (Duke Energy Carolinas NC Storm Funding II LLC), Indenture (Duke Energy Carolinas NC Storm Funding II LLC), Indenture (Duke Energy Carolinas SC Storm Funding LLC)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders holders of Notes representing at least evidencing not less than a majority of the Outstanding Amount principal amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders holders of Notes representing at least evidencing not less than a majority of the Outstanding Amount principal amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements disbursements, indemnities and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 9 contracts

Sources: Indenture (Usaa Auto Owner Trust 2005-3), Indenture (Usaa Auto Owner Trust 2005-2), Indenture (Usaa Acceptance LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Aa) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bb) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 8 contracts

Sources: Indenture (SLM Funding Corp), Indenture (SLM Funding Corp), Indenture (SLM Funding Corp)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes Noteholders representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Aa) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bb) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 8 contracts

Sources: Indenture (SLM Funding LLC), Indenture (SLM Funding LLC), Indenture (SLM Funding LLC)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders holders of Notes representing at least evidencing not less than a majority of the Outstanding Amount principal amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders holders of Notes representing at least evidencing not less than a majority of the Outstanding Amount principal amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 8 contracts

Sources: Indenture (Usaa Federal Savings Bank), Indenture (Usaa Federal Savings Bank Usaa Auto Owner Trust 2001-1), Indenture Agreement (Usaa Acceptance LLC)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuingcontinuing of which a Responsible Officer of the Indenture Trustee has Actual Knowledge, then and in every such case the Indenture Trustee or may, and shall at the Holders of Notes representing at least a majority written direction of the Outstanding Amount of the Majority Controlling Securities may Class Noteholders, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders)Issuer, and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Majority Controlling SecuritiesClass Noteholders, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) if the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all Controlling Class Notes and all other amounts that would then be due hereunder or upon such Controlling Class Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee and Administrator hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iiiii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.125.11. No such rescission shall affect any subsequent default or impair any right consequent thereto. The Holders of Notes of a Non-Priority Class shall have no right to exercise any remedies of Noteholders under this Article V, except to the extent otherwise expressly provided herein.

Appears in 8 contracts

Sources: Indenture (Saxon Asset Securities Trust 2005-1), Indenture (Sast 2006-3), Indenture (Saxon Asset Securities Trust 2004-2)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than with respect to clause (f), clause (g) or clause (j) of the definition thereof) should occur and be continuing, then and in every such case at the written direction of the Requisite Global Majority (which shall have the right, but not the obligation, to direct the Indenture Trustee or to accelerate the Holders Notes and, subject to the provisions of Notes representing at least a majority this Indenture, cause the foreclosure and sale of the Outstanding Amount of Collateral included in the Controlling Securities may Collateral Pool), the Indenture Trustee shall declare all of the Notes to be immediately due and payable, by a notice . If an Event of Default specified in writing to the Issuing Entity (and to the Indenture Trustee if given by NoteholdersSection 4.01(f), and upon any such declaration (g) or (j) occurs, the unpaid principal amount Outstanding Principal Balance of such Notes, together with all accrued and unpaid interest thereon through the date of acceleration, shall automatically become immediately due and payablepayable in full without any declaration or other act on the part of the Indenture Trustee or any Noteholder. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due in respect of the Notes has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedIV, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities, by written notice to the Issuing Entity and the Indenture Trustee, Requisite Global Majority may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity has Issuers have paid to or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all the Notes and all other amounts that would would, in each case, then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by virtue of such acceleration, have been cured or waived as provided in Section 5.124.12. No such rescission and annulment shall affect any subsequent default or impair any right consequent thereto.

Appears in 7 contracts

Sources: Master Indenture (FrontView REIT, Inc.), Master Indenture (STORE CAPITAL Corp), Master Indenture (Essential Properties Realty Trust, Inc.)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(g)) should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities Securitization Bonds may declare all the Notes Securitization Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Securitization Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesSecuritization Bonds, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and premium, if any, and interest on all Notes Securitization Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Securitization Bonds if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes Securitization Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 7 contracts

Sources: Indenture (Consumers 2023 Securitization Funding LLC), Indenture (Consumers 2023 Securitization Funding LLC), Indenture (Consumers 2023 Securitization Funding LLC)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders holders of Notes representing at least evidencing not less than a majority of the Outstanding Amount principal amount of the Controlling Securities Class may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders holders of Notes representing at least evidencing not less than a majority of the Outstanding Amount principal amount of the Controlling SecuritiesClass, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements disbursements, indemnities and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 7 contracts

Sources: Indenture (USAA Auto Owner Trust 2008-1), Indenture (USAA Auto Owner Trust 2007-2), Indenture (USAA Auto Owner Trust 2007-1)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount aggregate Note Balance of all Notes with the written consent of the Controlling Securities Credit Enhancer (so long as no Credit Enhancer Default exists), or the Credit Enhancer (so long as no Credit Enhancer Default exists) may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount aggregate Note Balance of the Controlling Securitiesall Notes, by written notice to the Issuing Entity Issuer and the Indenture TrusteeTrustee with the written consent of the Credit Enhancer (so long as no Credit Enhancer Default exists), or the Credit Enhancer (so long as no Credit Enhancer Default exists) may in writing waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all sums due and payable to the Credit Enhancer; and (B) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (BC) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 7 contracts

Sources: Indenture (Home Loan Trust 2006-Hi5), Indenture (Home Loan Trust 2006-Hi4), Indenture (Home Loan Trust 2006-Hi3)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes Noteholders representing at least a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Aa) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bb) all sums paid or advanced by the Indenture Trustee or the Indenture Administrator hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its the Indenture Administrator and their agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (SLC Student Loan Trust 2005-1), Indenture (SLC Student Loan Trust 2004-1), Indenture (SLC Student Loan Receivables I Inc)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingcontinuing with respect to any Series, then and in every such case the Indenture Note Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes of all Series may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Note Issuer (and to the Indenture Note Trustee if given by NoteholdersNote holders), and upon any such declaration the unpaid principal amount of such Notesthe Notes of all Series, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Note Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes of all Series, by written notice to the Issuing Entity Note Issuer and the Indenture Note Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Note Issuer has paid or deposited with the Indenture Note Trustee a sum sufficient to pay: (A) all payments of principal of and premium, if any, and interest on all Notes of all Series and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Note Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Note Trustee and its agents and counsel; and (ii) all Events of DefaultDefault with respect to all Series, other than the nonpayment of the principal of the Notes of all Series that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (Sce Funding LLC), Indenture (Pg&e Funding LLC), Indenture (Sce Funding LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingcontinuing or if the Master Servicer shall purchase all of the Mortgage Loans pursuant to Section 8.08 of the Servicing Agreement, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount Security Balances of the Controlling Securities all Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Class of Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. Unless the prior written consent of the Credit Enhancer shall have been obtained by the Indenture Trustee, the Payment Date upon which such accelerated payment is due and payable shall not be a Payment Date under the Credit Enhancement Instrument and the Indenture Trustee shall not be authorized under Section 3.28 to make a draw therefor. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount Security Balances of the Controlling Securitiesall Notes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (Structured Asset Mortgage Investments Ii Inc), Indenture (Peoples Choice Home Loan Securities Corp), Indenture (MortgageIT Securities Corp.)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur occurs and be is continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority not less than twenty-five percent (25%) in aggregate principal amount of the Outstanding Amount of the Controlling Securities may declare the principal amount of all the Notes Securities to be immediately due and payablepayable immediately, by a notice in writing to the Issuing Entity Company (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notes, together with and the accrued and unpaid interest thereon through (including any Additional Interest) on all the date of acceleration, Securities shall become immediately due and payable. . (b) At any time after such a declaration of acceleration of maturity with respect to Securities has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders of Notes representing at least a majority in aggregate principal amount of the Outstanding Amount of the Controlling Securities, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Company has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments overdue installments of interest on all Securities, (B) any accrued Additional Interest on all Securities, (C) the principal of and any premium on any Securities that have become due otherwise than by such declaration of acceleration and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if (including any Additional Interest) thereon at the Event of Default giving rise to such acceleration had not occurred; rate borne by the Securities, and (BD) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of DefaultDefault with respect to Securities, other than the nonpayment non-payment of the principal of the Notes Securities that has become due solely by such acceleration, have been cured or waived as provided in Section 5.125.13. No such rescission shall affect any subsequent default or impair any right consequent theretothereon.

Appears in 6 contracts

Sources: Junior Subordinated Indenture (Anthracite Capital Inc), Junior Subordinated Indenture (Anthracite Capital Inc), Junior Subordinated Indenture (Anthracite Capital Inc)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Aa) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bb) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (SLM Funding LLC), Indenture (SLM Funding Corp), Indenture (SLM Funding LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.04 of this Indenture. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (SLM Education Credit Funding LLC), Indenture (SLM Education Credit Funding LLC), Indenture (SLM Education Credit Funding LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under clause (vii) of Section 5.01) should occur and be continuingcontinuing with respect to any Series, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes of all Series may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Note Issuer (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Notes of all Series, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes of all Series, by written notice to the Issuing Entity Note Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Note Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and premium, if any, and interest on all Notes of all Series and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of DefaultDefault with respect to all Series, other than the nonpayment of the principal of the Notes of all Series that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (Comed Funding LLC), Indenture (Comed Funding LLC), Indenture (Comed Funding LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount aggregate Note Balance of the Controlling Securities all Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount aggregate Note Balance of the Controlling Securitiesall Notes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, Trustee may in writing waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (Home Loan Trust 2006-Hi1), Indenture (Residential Funding Mortgage Securities Ii Inc), Indenture (Residential Fund Mort Sec Home Loan-BCKD NTS Ser 2004-Hi1)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should shall occur and be continuing, then and in every such case the Indenture Trustee may, or the Indenture Trustee as directed in writing by the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities may Notes shall, declare all the Notes to be then immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders)Issuer, and upon any such declaration the unpaid principal amount Outstanding Amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. immediately (b) [Reserved.] (c) At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) A. all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) B. all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, expenses and disbursements and advances of the Indenture Trustee and its agents and counsel and the reasonable compensation, expenses and disbursements of the Owner Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (BMW Vehicle Owner Trust 2024-A), Indenture Agreement (BMW Vehicle Owner Trust 2024-A), Indenture (BMW Vehicle Owner Trust 2023-A)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount principal amount of the Controlling Securities Notes Outstanding, voting as a group, may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders of Notes representing at least a majority of the Outstanding Amount principal amount of the Controlling SecuritiesNotes Outstanding, voting as a group, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counselcounsel and other amounts due and owing to the Indenture Trustee pursuant to Section 6.7; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (Mmca Auto Receivables Trust), Indenture (Mmca Auto Owner Trust 2001-1), Indenture (Mmca Auto Receivables Trust)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should shall occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority not less than 25% in aggregate principal amount of the Outstanding Amount Notes then outstanding may, and the Trustee at the request of the Controlling Securities may Holders of not less than 25% in aggregate principal amount of the Notes then outstanding shall, declare all unpaid principal of, premium, if any, and accrued interest on all the Notes to be immediately due and payablepayable immediately, by a notice in writing to the Issuing Entity Company (and to the Indenture Trustee if given by Noteholdersthe Holders of the Notes), and upon any . Thereupon such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, and the Trustee may, at its discretion, proceed to protect and enforce the rights of the holders of Notes by appropriate judicial proceeding. At any time after such declaration of acceleration of maturity has been made and but before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V providedTrustee, the Holders of Notes representing at least a majority in aggregate principal amount of the Outstanding Amount of the Controlling SecuritiesNotes outstanding, by written notice to the Issuing Entity Company and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Company has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bi) all sums paid or advanced by the Trustee under Section 11.2 of the Initial Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and Trustee, its agents and counsel; , (ii) to the extent payment of such interest is lawful, if interest on overdue installments of interest and overdue principal, which has become due otherwise than by such declaration of acceleration, has been paid, and (iiiii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate borne by the Notes; (b) all Events of Default, other than the nonpayment non-payment of the principal of the Notes that has which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.127.5 of the Initial Indenture; and (c) the rescission will not conflict with any judgment or decree. No such rescission shall affect any subsequent default Default or impair any right consequent theretothereon.

Appears in 6 contracts

Sources: Supplemental Indenture (Constellation Brands, Inc.), Supplemental Indenture (Constellation Brands, Inc.), Supplemental Indenture (Constellation Brands, Inc.)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority not less than 50% of the Outstanding Amount of the Controlling Securities may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority 50% of the Outstanding Amount of the Controlling Securities, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (World Omni Auto Receivables Trust 2005-A), Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables LLC)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur shall have occurred and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities may Majority Noteholders may, upon prior written notice to each Rating Agency, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), the Depositor and the Servicer, and upon any such declaration the unpaid principal amount of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration . (b) If the Notes have been declared immediately due and payable following an Event of acceleration of maturity has been made and Default, before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedArticle, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesMajority Noteholders, by written notice to the Issuing Entity Issuer, the Depositor and the Indenture Trustee, may rescind and annul such declaration of acceleration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: pay (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and Notes, (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counselcounsel and (C) all other amounts that would then be due hereunder or upon the Notes if the Event of Default giving rise to such acceleration had not occurred; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 6 contracts

Sources: Indenture (Daimler Trucks Retail Trust 2024-1), Indenture (Daimler Trucks Retail Trust 2024-1), Indenture (Daimler Trucks Retail Trust 2023-1)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(g)) should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Securitization Bonds may declare all the Notes Securitization Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Securitization Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesSecuritization Bonds, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and premium, if any, and interest on all Notes Securitization Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Securitization Bonds if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes Securitization Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 5 contracts

Sources: Indenture (DTE Electric Securitization Funding II LLC), Indenture (DTE Electric Securitization Funding II LLC), Indenture (DTE Electric Securitization Funding II LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingcontinuing or if the Master Servicer shall purchase all of the Mortgage Loans pursuant to Section 8.08 of the Servicing Agreement, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount Security Balances of the Controlling Securities all Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Class of Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. Unless the prior written consent of the Credit Enhancer shall have been obtained by the Indenture Trustee, the Payment Date upon which such accelerated payment is due and payable shall not be a Payment Date under the Credit Enhancement Instrument and the Indenture Trustee shall not be authorized under Section 3.29 to make a draw therefor. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount Security Balances of the Controlling Securitiesall Notes, by written notice to the Issuing Entity and the Indenture Trustee, may waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 5 contracts

Sources: Indenture (Opteum Mortgage Acceptance CORP), Indenture (Impac Secured Assets Corp), Indenture (Impac Secured Assets Corp)

Acceleration of Maturity; Rescission and Annulment. If -------------------------------------------------- an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to the last paragraph of Section 2.7C of the Administration Agreement and to Section 5.4 of this Indenture. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Aa) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bb) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 5 contracts

Sources: Indenture (SLM Funding Corp), Indenture (SLM Funding Corp), Indenture (SLM Funding Corp)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Bond Trustee or the Holders of Notes Bonds representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Bonds may declare all the Notes Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Bond Issuer (and to the Indenture Bond Trustee if given by NoteholdersBondholders), and upon any such declaration the unpaid principal amount of such Notesthe Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Bond Trustee as hereinafter in this Article V provided, the Holders of Notes Bonds representing at least a majority of the Outstanding Amount of the Controlling SecuritiesBonds, by written notice to the Issuing Entity Bond Issuer and the Indenture Bond Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Bond Issuer has paid or deposited with the Indenture Bond Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all Notes Bonds and all other amounts that would then be due hereunder or upon such Notes Bonds if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Bond Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Bond Trustee and its agents and counselcounsel and all amounts due under the Fee and Indemnity Agreement; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default Default or impair any right consequent thereto.

Appears in 5 contracts

Sources: Bond Indenture (FirstEnergy Ohio PIRB Special Purpose Trust 2013), Bond Indenture (FirstEnergy Ohio PIRB Special Purpose Trust 2013), Bond Indenture (FirstEnergy Ohio PIRB Special Purpose Trust 2013)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to the last paragraph of Section 2.7C of the Administration Agreement and to Section 5.4 of this Indenture. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Aa) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bb) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 5 contracts

Sources: Indenture (SLM Education Credit Funding LLC), Indenture (SLM Funding Corp), Indenture (SLM Education Credit Funding LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or at the written direction of the Holders of Notes representing at least not less than a majority of the Outstanding Amount aggregate Note Principal Balance of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if such notice is given by Noteholders), and upon any such declaration the unpaid principal amount Note Principal Balance of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of the Notes representing at least not less than a majority of the Outstanding Amount aggregate Note Principal Balance of the Controlling Securitieseach Class of Notes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may may, subject to Section 5.12, waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee or Securities Administrator a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such under the Notes if the Event of Default giving rise to such acceleration had not occurred; and; (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 5 contracts

Sources: Indenture (Bear Stearns ARM Trust 2005-7), Indenture (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-9), Indenture (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-5)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur occurs and be is continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority not less than twenty-five percent (25%) in aggregate principal amount of the Outstanding Amount of the Controlling Securities may declare the principal amount of all the Notes Securities to be immediately due and payablepayable immediately, by a notice in writing to the Issuing Entity Company (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notes, together with and the accrued and unpaid interest thereon through (including any Additional Interest) on all the date of acceleration, Securities shall become immediately due and payable. . (b) At any time after such a declaration of acceleration of maturity with respect to Securities has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders of Notes representing at least a majority in aggregate principal amount of the Outstanding Amount of the Controlling Securities, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Company has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments overdue installments of interest on all Securities, (B) any accrued Additional Interest on all Securities, (C) the principal of and any premium on any Securities that have become due otherwise than by such declaration of acceleration and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if (including any Additional Interest) thereon at the Event of Default giving rise to such acceleration had not occurred; rate borne by the Securities, and (BD) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee Trustee, and its agents and counsel; and (ii) all Events of DefaultDefault with respect to Securities, other than the nonpayment non-payment of the principal of the Notes Securities that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. 5.13; No such rescission shall affect any subsequent default or impair any right consequent theretothereon.

Appears in 5 contracts

Sources: Subordinated Indenture (Capital Trust Inc), Junior Subordinated Indenture (Capital Trust Inc), Junior Subordinated Indenture (JER Investors Trust Inc)

Acceleration of Maturity; Rescission and Annulment. If an Issuer Event of Default should occur and be continuingcontinuing with respect to a Series, then and in every such case (unless the related Terms Indenture provides otherwise) the Indenture Trustee may, or at the direction of the Holders of Notes Bonds representing at least a majority more than 50% of the Outstanding aggregate Principal Amount (or, in the case of a Class of Interest Only Bonds, the aggregate Notional Amount) of each Class of such Series, shall declare all of the Controlling Securities may declare all the Notes Bonds of such Series to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders)Issuer, and upon any such declaration the aggregate unpaid principal amount Principal Amount of such NotesBonds, together with accrued and unpaid interest thereon with respect thereto through the date end of accelerationthe applicable Interest Accrual Period, shall become immediately due and payablepayable on the next succeeding Payment Date and on each Payment Date thereafter, until all such principal and interest is paid in full, and unless such declaration and its consequences are earlier rescinded and annulled as provided in the following paragraph. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due in respect of the Bonds has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, unless the related Terms Indenture provides otherwise, the Holders of Notes Bonds representing at least a majority more than 50% of the Outstanding aggregate Principal Amount (or, in the case of a Class of Interest Only Bonds, the aggregate Notional Amount) of each Class of the Controlling SecuritiesSeries that has been declared due and payable, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee or another Paying Agent a sum sufficient to pay: (A) all payments of principal of of, premium, if any, on and interest on all Notes Bonds of the Series that has been declared due and payable and all other amounts that which would then be due hereunder or upon such Notes if the Issuer Event of Default giving rise to such acceleration had not occurred; and (B) all Administrative Expenses and Additional Expenses remaining unpaid with respect to the Series that has been declared due and payable, together with all sums paid or advanced by the Indenture Trustee or any other Paying Agent hereunder and the reasonable compensation, fees, expenses, disbursements disbursement and advances of the Indenture Trustee Trustee, any other Paying Agents, and its agents and counsel; and; (ii) all Issuer Events of DefaultDefault with respect to the Series that has been declared due and payable, other than the nonpayment of the principal of the Notes that has become due solely by or interest on Bonds of such accelerationSeries, have been cured or waived as provided in Section 5.125.13; and (iii) any other conditions to such declaration and its consequences being rescinded and annulled have been satisfied. No Upon such rescission and annulment, the related Issuer Event of Default shall be deemed to have been cured; however, no such rescission and annulment shall affect any subsequent default Issuer Event of Default with respect to the affected Series or any Issuer Event of Default with respect to any other Series or impair any right consequent theretoor remedy which arises as a consequence thereof.

Appears in 5 contracts

Sources: Indenture Agreement (Criimi Mae CMBS Corp), Indenture Agreement (Criimi Mae CMBS Corp), Indenture Agreement (Criimi Mae CMBS Corp)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee may, or shall, at the direction of the Holders of Notes representing at least not less than a majority of the Outstanding Amount Balance of the Controlling Securities may Priority Class Notes, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon on the Notes through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V Five provided, the Holders of Notes representing at least a majority of the Outstanding Amount Balance of the Controlling SecuritiesPriority Class Notes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee Trust Administrator a sum sufficient to pay: (A) all payments of principal of and interest on all affected Priority Class Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto. The Holders of Non-Priority Class Notes shall have no right to exercise any Noteholders’ rights referred to in this Article Five, except to the extent expressly provided herein.

Appears in 5 contracts

Sources: Indenture (Fieldstone Mortgage Investment CORP), Indenture (NYMT Securities CORP), Indenture (Fieldstone Mortgage Investment Trust, Series 2004-3)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee may, or shall, at the direction of the Holders of Notes representing at least not less than a majority of the Outstanding Amount Balance of the Controlling Securities may Priority Class Notes, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon on the Notes through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V Five provided, the Holders of Notes representing at least a majority of the Outstanding Amount Balance of the Controlling SecuritiesPriority Class Notes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee Trust Administrator a sum sufficient to pay: (A) all payments of principal of and interest on all affected Priority Class Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto. The Holders of Non Priority Class Notes shall have no right to exercise any Noteholders' rights referred to in this Article Five, except to the extent expressly provided herein.

Appears in 5 contracts

Sources: Indenture (Indymac MBS Inc), Indenture (Cwabs Inc), Indenture (CWMBS Inc)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur occurs and be is continuing, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount Note Balance of the Controlling Securities Class may declare all of the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by the Noteholders), and upon . Upon any such declaration declaration, the unpaid principal amount Note Balance of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall will become immediately due and payable. At If an Event of Default described in Section 5.1(a)(iv) occurs, all unpaid principal of and accrued and unpaid interest on the Notes, and all other amounts payable under this Indenture, will automatically become due and payable without any time after declaration or other act on the part of the Indenture Trustee or any Noteholder. Upon any such declaration or automatic acceleration, the Indenture Trustee will promptly notify each Noteholder and each Qualified Institution (if not the Indenture Trustee) maintaining a Bank Account. (b) The Noteholders of a majority of the Note Balance of the Controlling Class, by notice to the Issuer and the Indenture Trustee, may rescind and annul a declaration of acceleration of maturity has been made and its consequences before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum an amount sufficient to pay: (A) pay all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder under this Indenture or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and , (B) pay all sums paid or advanced by amounts owed to the Indenture Trustee hereunder under Section 6.7, and the reasonable compensation, expenses, disbursements (C) pay all other outstanding fees and advances expenses of the Indenture Trustee and its agents and counsel; Issuer, and (ii) all Events of Default, other than the nonpayment non-payment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.125.14. No such rescission shall will affect any subsequent default or impair any right consequent theretoresulting from such rescission.

Appears in 5 contracts

Sources: Indenture (Ford Credit Auto Owner Trust 2012-A), Indenture (Ford Credit Auto Owner Trust 2012-A), Indenture (Ford Credit Auto Owner Trust 2011-B)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur occurs and be is continuing, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount Note Balance of the Controlling Securities Class may declare all of the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by the Noteholders), and upon . Upon any such declaration declaration, the unpaid principal amount Note Balance of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall will become immediately due and payable. At If an Event of Default specified in Section 5.1(a)(iv) occurs, all unpaid principal of and accrued and unpaid interest on the Notes, and all other amounts payable under this Indenture, will automatically become due and payable without any time after declaration or other act on the part of the Indenture Trustee or any Noteholder. Upon any such declaration or automatic acceleration, the Indenture Trustee will promptly notify each Noteholder, each Swap Counterparty and each Qualified Institution or Qualified Trust Institution (if not the Indenture Trustee) maintaining a Bank Account. (b) The Noteholders of at least a majority of the Note Balance of the Controlling Class, by notice to the Issuer and the Indenture Trustee, may rescind and annul a declaration of acceleration of maturity has been made and its consequences before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum an amount sufficient to pay: (A1) pay all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder under this Indenture or upon such the Notes and the Interest Rate Swaps if the Event of Default giving rise to such acceleration had not occurred; and , (B2) pay all sums paid or advanced by amounts owed to the Indenture Trustee hereunder under Section 6.7, and the reasonable compensation, expenses, disbursements (3) pay all other outstanding fees and advances expenses of the Indenture Trustee and its agents and counsel; Issuer, and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.125.14. No such rescission shall will affect any subsequent default or impair any right consequent theretoresulting from such rescission.

Appears in 4 contracts

Sources: Indenture (Ford Credit Auto Owner Trust 2007-A), Indenture (Ford Credit Auto Owner Trust 2006-C), Indenture (Ford Credit Auto Owner Trust 2007-B)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur with respect to the Securities occurs and be is continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority not less than fifty percent (50%) in the Principal Amount of the Outstanding Amount of the Controlling Securities may declare all of the Notes Securities to be immediately due and payablepayable immediately, by a notice in writing to the Issuing Entity Company (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid such principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At Notwithstanding the foregoing or any other provision in this Indenture to the contrary, at any time after such a declaration of acceleration of maturity with respect to the Securities has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesCompany, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i1) the Issuing Entity Company has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments a. the Principal Amount of principal any Securities which have become due otherwise than by such declaration of acceleration and interest on all Notes and all other amounts thereon at the rate or rates prescribed therefor in such Securities; b. to the extent that would then be due hereunder payment of such interest is lawful, interest upon overdue interest at the rate or upon rates prescribed therefor in such Notes if the Event of Default giving rise to such acceleration had not occurred; Securities, and (B) c. all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and Trustee, its agents and counsel; and (ii2) all Events of DefaultDefault with respect to the Securities, other than the nonpayment non-payment of the principal of the Notes that has Securities which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.125.13. No such rescission shall affect any subsequent default or impair any right consequent theretothereon.

Appears in 4 contracts

Sources: Indenture (Vault Holding 1, LLC), Indenture (Vault Holding 1, LLC), Indenture (Vault Holding 1, LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should shall occur and be continuing, then and in every such case the Indenture Trustee Trustee, acting at the direction of the Enhancer or the Holders Noteholders of Notes representing at least not less than a majority of the Outstanding Amount aggregate Note Balance of the Controlling Securities Notes, with the written consent of the Enhancer (unless an Enhancer Default has occurred and is continuing), may declare all the Notes to be immediately due and payable, payable by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), ; and upon any such declaration declaration, the unpaid principal amount of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders Enhancer or the Noteholders of Notes representing at least a majority of the Outstanding Amount aggregate Note Balance of the Controlling SecuritiesNotes, with the written consent of the Enhancer, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may in writing waive the related Event of Default and rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and; (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iiiii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12; provided that no such waiver shall be effective following an Early Amortization Event if the requisite consents of the Noteholders and the Enhancer have been obtained with respect to a sale or other liquidation of the Trust Estate pursuant to Section 5.04(a). No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (Residential Asset Mort Prod Inc Gmacm Home Eq Ln Tr 2004 He1), Indenture (Residential Funding Mortgage Securities Ii Inc), Indenture (Gmacm Home Equity Loan Backed Term Notes Ser 2003-He1)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should shall occur and be continuing, then and in every such case the Indenture Trustee or Trustee, acting at the Holders direction of the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount aggregate Note Balance of the Controlling Securities Notes, may declare all the Notes to be immediately due and payable, payable by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), ; and upon any such declaration declaration, the unpaid principal amount of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount aggregate Note Balance of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may in writing waive the related Event of Default and rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and; (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iiiii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (Phoenix Residential Securities, LLC), Indenture (Phoenix Residential Securities, LLC), Indenture (GMACM Home Equity Loan Trust 2007-He3)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingcontinuing or if the Master Servicer shall purchase all of the Mortgage Loans pursuant to Section 8.08 of the Servicing Agreement, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount Security Balances of the Controlling Securities all Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Class of Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. Unless the prior written consent of the Credit Enhancer shall have been obtained by the Indenture Trustee, the Payment Date upon which such accelerated payment is due and payable shall not be a Payment Date under the Credit Enhancement Instrument and the Indenture Trustee shall not be authorized under Section 3.28 to make a draw therefor. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount Security Balances of the Controlling Securitiesall Notes, by written notice to the Issuing Entity and the Indenture Trustee, may waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (Shellpoint Mortgage Acceptance LLC), Indenture (MortgageIT Securities Corp.), Indenture (BNP Paribas Mortgage ABS LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur occurs and is continuing, unless the principal of the Notes has already become due and payable, the Trustee by notice to the Company, or the Holders of not less than 25 percent in aggregate principal amount of the Notes then outstanding by notice to the Company and the Trustee, may declare the outstanding principal of the Notes and any accrued and unpaid interest through the date of such declaration on all of the Notes to be immediately due and payable. Upon such a declaration, such outstanding principal amount and accrued and unpaid interest, if any, shall be due and payable immediately. If an Event of Default specified in Section 6.1(6) or (7) of this Indenture occurs and is continuing, the outstanding principal amount of the Notes shall automatically become and be continuingimmediately due and payable without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in aggregate principal amount of the Notes then outstanding, on behalf of the Holders of all of the Notes, by notice to the Company and the Trustee (and without notice to any other Holder), may rescind any acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of the outstanding principal amount of any of the Notes that has become due solely as a result of acceleration and if all amounts due to the Trustee under Section 7.7 of this Indenture have been paid. No such rescission shall affect any subsequent Default or Event of Default or impair any right consequent thereto. In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such waiver or rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V providedCompany, the Holders of Notes representing at least a majority Notes, and the Trustee shall be restored respectively to their several positions and rights hereunder and all rights, remedies and powers of the Outstanding Amount Company, the Holders of Notes, and the Trustee shall continue as though no such proceeding had been taken. The Trustee shall within 90 days after a Trust Officer has knowledge of the Controlling Securitiesoccurrence of a Default or any Event of Default, by written mail to all Holders, as the names and addresses of such Holders appear upon the Note register, notice of all Defaults or Events of Default known to the Issuing Entity and the Indenture Trusteea Trust Officer, may rescind and annul unless such declaration and its consequences if: (i) the Issuing Entity has paid Default or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default is cured or waived before the giving rise to of such acceleration had not occurred; and (B) all sums paid or advanced by notice and provided that, except in the Indenture Trustee hereunder and case of default in the reasonable compensation, expenses, disbursements and advances payment of the Indenture Trustee and its agents and counsel; and (ii) all Events of Defaultprincipal, other than interest or Redemption Price, as the nonpayment case may be, on any of the Notes, the Trustee shall be protected in withholding such notice if and so long as a trust committee of directors and/or officers of the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders. The Holders of a majority in principal amount of the Notes that has become due solely by such accelerationthen outstanding shall have the right to direct the time, have been cured or waived as provided in Section 5.12. No such rescission shall affect method and place of conducting any subsequent default or impair proceedings for any right consequent theretoremedy available to the Trustee, subject to the limitations specified herein.

Appears in 4 contracts

Sources: Indenture (Lennar Corp /New/), Indenture (Lennar Corp /New/), Indenture (Lennar Corp /New/)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(g)) should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities Energy Transition Bonds may declare all the Notes Energy Transition Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Energy Transition Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesEnergy Transition Bonds, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and premium, if any, and interest on all Notes Energy Transition Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Energy Transition Bonds if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; provided, that, the Indenture Trustee shall not be obligated to pay or advance any sums hereunder from its own funds after an Event of Default; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes Energy Transition Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (PNM Energy Transition Bond Co I, LLC), Indenture (PNM Energy Transition Bond Co I, LLC), Indenture (PNM Energy Transition Bond Co I, LLC)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least evidencing not less than a majority of the Outstanding Amount Note Balance of the Controlling Securities Note Class may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. If an Event of Default specified in Section 5.1(iv) or (v) occurs, all unpaid principal, together with all accrued and unpaid interest thereon, of all the Notes, and all other amounts payable hereunder, shall automatically become due and payable without any declaration or other act on the part of the Indenture Trustee or any Noteholder. In the event of such declaration or automatic acceleration, the Indenture Trustee shall give prompt written notice to the Swap Counterparties. (b) At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders Noteholders of Notes representing at least evidencing not less than a majority of the Outstanding Amount Note Balance of the Controlling SecuritiesNote Class, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes or under the Interest Rate Swap Agreements if the Event of Default giving rise to such acceleration had not occurred; and; (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two L P), Indenture (Ford Credit Auto Receivables Two LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(g)) should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Energy Transition Bonds may declare all the Notes Energy Transition Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Energy Transition Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesEnergy Transition Bonds, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and premium, if any, and interest on all Notes Energy Transition Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Energy Transition Bonds if the Event of Default giving rise to such acceleration had not occurredoccurred and was not continuing; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expensesindemnities and expenses of the Indenture Trustee; provided, that, the Indenture Trustee shall not be obligated to pay or advance any sums hereunder from its own funds after an Event of Default, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes Energy Transition Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default Default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (Cleco Securitization II LLC), Indenture (Cleco Securitization II LLC), Indenture (Cleco Power LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingoccur, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer and any Swap Counterparties (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder plus all amounts owed to any Swap Counterparties under the Basic Documents and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee Trustee, any Swap Counterparties and its their respective agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (SMS Student Loan Trust 2000-B), Indenture (SMS Student Loan Trust 2000-A), Indenture (Asset Backed Securities Corp)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or at the written direction of the Holders of Notes Bonds representing at least not less than a majority of the Outstanding Amount aggregate Bond Principal Balance of the Controlling Securities Bonds may declare all the Notes Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if such notice is given by NoteholdersBondholders), and upon any such declaration the unpaid principal amount Bond Principal Balance of such Notesthe Bonds, together with accrued and unpaid interest thereon through the date of acceleration, acceleration shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes the Bonds representing at least not less than a majority of the Outstanding Amount aggregate Bond Principal Balance of the Controlling SecuritiesBonds, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes the Bonds and all other amounts that would then be due hereunder or upon such Notes the Bonds if the Event of Default giving rise to such acceleration had not occurred; and; (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (C) all amounts owed to the Derivative Contract Counterparty; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (Imh Assets Corp Collateralized Asset Backed Bonds Ser 2004 4), Indenture (Impac CMP Trust Series 2004-5), Indenture (Imh Assets Corp Collateralized Asset Backed Bonds Ser 2004 3)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should shall occur and be continuing, then and in every such case the Indenture Trustee or Trustee, acting at the Holders direction of the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount aggregate Note Balance of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, payable by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), ; and upon any such declaration declaration, the unpaid principal amount of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V provided, or the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount aggregate Note Balance of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may in writing waive the related Event of Default and rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and; (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iiiii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (Residential Asset Mortgage Products Inc), Indenture (Residential Asset Mortgage Prod Inc Gmacm Mor Ln Tr 2003-Gh1), Indenture (GMACM Mortgage Loan Trust 2004-Gh1)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least evidencing not less than a majority of the Outstanding Amount Note Balance of the Controlling Securities Note Class may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. If an Event of Default specified in Section 5.1(iv) or (v) occurs, all unpaid principal, together with all accrued and unpaid interest thereon, of all the Notes, and all other amounts payable hereunder, shall automatically become due and payable without any declaration or other act on the part of the Indenture Trustee or any Noteholder. In the event of such declaration or automatic acceleration, the Indenture Trustee shall give prompt written notice to the Qualified Institution or Qualified Trust Institution maintaining the Reserve Account and the Collection Account. (b) At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders Noteholders of Notes representing at least evidencing not less than a majority of the Outstanding Amount Note Balance of the Controlling SecuritiesNote Class, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and; (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (Ford Credit Auto Owner Trust 2005-B), Indenture (Ford Credit Auto Owner Trust 2005-A), Indenture (Ford Credit Auto Owner Trust 2005-C)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case case, the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 4 contracts

Sources: Indenture (John Deere Owner Trust 2015-B), Indenture (John Deere Owner Trust 2015), Indenture (John Deere Owner Trust 2014)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or at the written direction of the Holders of Notes representing at least not less than a majority of the Outstanding Amount aggregate Note Principal Balance of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if such notice is given by Noteholders), and upon any such declaration the unpaid principal amount Note Principal Balance of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of the Notes representing at least not less than a majority of the Outstanding Amount aggregate Note Principal Balance of the Controlling Securitieseach Class of Notes, by written notice to the Issuing Entity and the Indenture Trustee, may may, subject to Section 5.12, waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity has paid or deposited with the Indenture Trustee or Securities Administrator a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such under the Notes if the Event of Default giving rise to such acceleration had not occurred; and; (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Supplemental Indenture (Bear Stearns ARM Trust 2007-2), Indenture (Bear Stearns ARM Trust 2006-1), Indenture (Bear Stearns ARM Trust 2006-1)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority not less than 50% of the Outstanding Amount of the Controlling Securities may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders), ) and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority 50% of the Outstanding Amount of the Controlling Securities, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (World Omni Auto Receivables Trust 2006-B), Indenture (World Omni Auto Receivables Trust 2006-A), Indenture (World Omni Auto Receivables LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or at the written direction of the Holders of Notes Bonds representing at least not less than a majority of the Outstanding Amount aggregate Bond Principal Balance of the Controlling Securities Bonds may declare all the Notes Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if such notice is given by NoteholdersBondholders), and upon any such declaration the unpaid principal amount Bond Principal Balance of such Notesthe Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes the Bonds representing at least not less than a majority of the Outstanding Amount aggregate Bond Principal Balance of the Controlling SecuritiesBonds, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes the Bonds and all other amounts that would then be due hereunder or upon such Notes the Bonds if the Event of Default giving rise to such acceleration had not occurred; and; (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (C) all amounts owed to the Derivative Contract Counterparty; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Imh Assets Corp Impac CMB Trust Series 2004-1), Indenture (Impac CMB Trust Series 2004-2), Indenture (Imh Assets Corp Collateralized Asset Backed Bonds Se 03 12)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(g)) should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Securitized Utility Tariff Bonds may declare all the Notes Securitized Utility Tariff Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee and the Kansas Commission if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Securitized Utility Tariff Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesSecuritized Utility Tariff Bonds, by written notice to the Issuing Entity Issuer, the Kansas Commission and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and premium, if any, and interest on all Notes Securitized Utility Tariff Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Securitized Utility Tariff Bonds if the Event of Default giving rise to such acceleration had not occurredoccurred and was not continuing; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expensesindemnities and expenses of the Indenture Trustee; provided, that, the Indenture Trustee shall not be obligated to pay or advance any sums hereunder from its own funds after an Event of Default, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes Securitized Utility Tariff Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default Default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Atmos Energy Kansas Securitization I, LLC), Indenture (Atmos Energy Kansas Securitization I, LLC), Indenture (Atmos Energy Kansas Securitization I, LLC)

Acceleration of Maturity; Rescission and Annulment. (a) If any Event of Default (other than an Event of Default should occur specified in Section 6.01(7) with respect to the Issuer) occurs and be is continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority 25% in principal amount of the Outstanding Amount Notes issued under this Indenture may, and the Trustee at the request of such Holders of the Controlling Securities may Notes shall (subject to receiving indemnity, prefunding and/or security to its satisfaction), declare the principal, premium, if any, interest and any other monetary obligations on all the Outstanding Notes to be immediately due and payablepayable immediately. (b) Upon the effectiveness of a declaration under Section 6.02, by a notice such principal and interest shall be due and payable immediately. Notwithstanding the foregoing, in writing the case of an Event of Default arising under Section 6.01(7) above with respect to the Issuing Entity (Issuer, all Outstanding Notes shall become due and payable without further action or notice. The Trustee may withhold from the Holders notice of any continuing Default or Event of Default, except a Default or Event of Default relating to the Indenture Trustee payment of principal, premium, if given by Noteholders)any, and upon any such declaration the unpaid principal amount of such Notesor interest, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. if it determines that withholding notice is in their interest. (c) At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedArticle, the Holders of Notes representing at least a majority in aggregate principal amount of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences with respect to the Notes, so long as such recission and annulment would not conflict with any judgment of a court of competent jurisdiction and all amounts owing to the Trustee have been repaid, if: (i1) the Issuing Entity The Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of overdue interest on all Outstanding Notes, (B) all unpaid principal of (and premium, if any, on) any Outstanding Notes which has become due otherwise than by such declaration of acceleration, and interest on all Notes and all other amounts such unpaid principal at the rate borne by the Notes, (C) to the extent that would then be due hereunder or upon payment of such Notes if interest is lawful, interest on overdue interest at the Event of Default giving rise to such acceleration had not occurred; rate borne by the Notes, and (BD) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, compensation and properly incurred expenses, disbursements and advances (including any indemnity payments) of the Indenture Trustee and Trustee, its agents and counsel; and (ii2) all Events of Default, other than the nonpayment of the amounts of principal of the Notes that has (or premium, if any, on) or interest on Notes, which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.12. No 6.08; provided that no such rescission recission shall affect any subsequent default or impair any right consequent theretothereon. (d) Notwithstanding Section 6.02(c) the preceding paragraph, in the event of any Event of Default specified in Section 6.01(5), such Event of Default and all consequences thereof (excluding any resulting payment default, other than as a result of acceleration of the Notes) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders, if within 20 days after such Event of Default arose, (1) the Indebtedness or guarantee that is the basis for such Event of Default has been discharged, or (2) the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default, or

Appears in 3 contracts

Sources: Indenture (Arconic Corp), Indenture (Arconic Rolled Products Corp), Indenture (Arconic Inc.)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur shall have occurred and be continuing and no Insurer Default shall have occurred and be continuing, then and in every such case the Indenture Trustee or Insurer shall have the Holders of Notes representing at least a majority of right, but not the Outstanding Amount of the Controlling Securities may obligation, upon prior written notice to each Rating Agency, to declare all the Notes to be immediately due and payable, payable by a written notice in writing to the Issuing Entity (Issuer, the Depositor, the Servicer and to the Indenture Trustee if given by Noteholders)Trustee, and upon any such declaration the unpaid principal amount of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At The Indenture Trustee shall have no discretion with respect to the acceleration of the Notes under the foregoing circumstances. In the event of any time after such acceleration of the Notes, the Indenture Trustee shall continue to submit claims under the Policy with respect to the Notes and the Certificates. (b) If an Event of Default shall have occurred and be continuing and an Insurer Default shall have occurred and be continuing, the Indenture Trustee or the Holders of Notes evidencing not less than 66 2/3% of the Note Balance may, upon prior written notice to each Rating Agency, declare the Notes to be immediately due and payable by written notice to the Issuer (and to the Indenture Trustee if given by Noteholders), the Depositor and the Servicer, and upon any such declaration the unpaid principal amount of acceleration the Notes, together with accrued and unpaid interest thereon through the date of maturity has acceleration, shall become immediately due and payable. (c) If the Notes have been made declared immediately due and payable following an Event of Default, before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders of Notes representing at least a majority evidencing not less than 66 2/3% of the Outstanding Amount of the Controlling SecuritiesNote Balance, by written notice to the Issuing Entity Issuer, the Depositor and the Indenture Trustee, may rescind and annul such declaration of acceleration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) pay all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto. (d) If an Event of Default shall have occurred and be continuing and no Insurer Default shall have occurred and be continuing, the Insurer may elect to prepay all or any portion of the Note Balance on any Distribution Date by depositing the principal amount to be prepaid, plus accrued but unpaid interest thereon to such Distribution Date, in the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day preceding such Distribution Date; provided, however, that the Insurer shall fulfill its obligations under the Policy. (e) If an Event of Default shall have occurred and be continuing, no Insurer Default shall have occurred and be continuing and the Note Balance shall have been paid in full, the Insurer may elect to prepay all or any portion of the Certificate Balance on any Distribution Date by depositing the principal amount to be prepaid, plus accrued but unpaid interest thereon to such Distribution Date, in the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day preceding such Distribution Date; provided, however, that the Insurer shall fulfill its obligations under the Policy.

Appears in 3 contracts

Sources: Indenture (Carmax Auto Funding LLC), Indenture (Pooled Auto Securities Shelf LLC), Indenture (Pooled Auto Securities Shelf LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee Trustee, at the direction or upon the Holders of Notes representing at least a majority prior written consent of the Outstanding Amount of the Controlling Securities Majority Highest Priority Classes Noteholders, may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon thereon, and all accrued and unpaid interest on the Class A-4 IO Notes, through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money moneys due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesMajority Highest Priority Classes Noteholders, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) 1. all payments of principal of and and/or interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) 2. all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.125.12 hereof. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Master Financial Asset Securitization Trust 1998-2), Indenture (Empire Funding Home Loan Owner Trust 1997-5), Indenture (Master Financial Asset Securitization Trust 1998-2)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount principal amount of the Controlling Securities Notes Outstanding may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money amount due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders of Notes representing at least a majority of the Outstanding Amount principal amount of the Controlling SecuritiesNotes Outstanding, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counselcounsel and other amounts due and owing to the Indenture Trustee pursuant to Section 6.7; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Mmca Auto Receivables Inc), Indenture (Mmca Auto Receivables Inc), Indenture (Mmca Auto Receivables Inc)

Acceleration of Maturity; Rescission and Annulment. If an -------------------------------------------------- Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to the last paragraph of Section 2.7C of the Administration Agreement and to Section 5.4 of this Indenture. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Aa) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bb) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (SLM Funding Corp), Indenture (SLM Funding Corp), Indenture (SLM Funding Corp)

Acceleration of Maturity; Rescission and Annulment. (a) If an any Event of Default should occur occurs under subparagraph (d) of Section 11.1, the principal of each Class of Notes, together with accrued and unpaid interest thereon, will automatically be continuingaccelerated and become immediately due and payable. If any other Event of Default occurs, then (A) the Insurer, if no Insurer Default has occurred and in every such case is continuing or (B) during the Indenture Trustee or continuation of an Insurer Default, the Majority Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities may declare all the Notes may accelerate the Notes by declaring the principal of each Class of Notes, together with accrued and unpaid interest thereon to be immediately due and payable, by a notice in writing to the Issuing Entity (Issuer, the Trustee, the Insurer and to the Indenture Trustee if given by Noteholders), Swap Counterparty and upon any such declaration the unpaid such principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such an acceleration or declaration of acceleration of maturity the Notes has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedIndenture, such acceleration may be rescinded by (A) the Insurer, if no Insurer Default has occurred and is continuing or (B) during the continuation of an Insurer Default, the Holders of Notes representing at least a majority greater than 50% of the Outstanding Aggregate Principal Amount of the Controlling Securities, Notes by written notice to the Issuing Entity Issuer, the Trustee and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12Swap Counterparty. No such rescission shall affect any subsequent default Event of Default or impair any right consequent theretothereon. (c) If an Event of Default has occurred and the Notes have been accelerated, payments will continue to be made in accordance with the Priority of Payment unless a Rapid Amortization Event has also occurred, in which case payments will be made as provided in Section 3.1 upon the occurrence of a Rapid Amortization Event; provided, however, if the Trustee has sold the Collateral under this Indenture, then payments shall be made as provided in Section 11.7.

Appears in 3 contracts

Sources: Indenture and Servicing Agreement (Cendant Corp), Indenture and Servicing Agreement (Cendant Corp), Indenture and Servicing Agreement (Wyndham Worldwide Corp)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(g)) should occur and be continuing, then and in every such case the Indenture Trustee (which may be at the direction of Holders representing not less than a majority of the Outstanding Amount of Deferred Fuel Cost Bonds) or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Deferred Fuel Cost Bonds may declare all the Notes Deferred Fuel Cost Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Deferred Fuel Cost Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, V; provided that the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling SecuritiesDeferred Fuel Cost Bonds, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and premium, if any, and interest on all Notes Deferred Fuel Cost Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Deferred Fuel Cost Bonds if the Event of Default giving rise to such acceleration had not occurredoccurred and was not continuing; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expensesindemnities, fees, costs and expenses (including attorneys’ fees and expenses and court costs) of the Indenture Trustee; provided that the Indenture Trustee shall not be obligated in any way to pay or advance any sums hereunder from its own funds after an Event of Default, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes Deferred Fuel Cost Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Virginia Power Fuel Securitization, LLC), Indenture (Virginia Power Fuel Securitization, LLC), Indenture (Virginia Power Fuel Securitization, LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee at the written direction of the Bond Insurer (which such written direction shall include a statement to the effect that such acceleration is at the sole option of the Bond Insurer), or the if a Bond Insurer Default exists Holders of Notes Bonds representing at least not less than a majority of the Outstanding Amount Bond Principal Balances of the Controlling Securities all Bonds may declare all the Notes Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by NoteholdersBondholders), and upon any such declaration the unpaid principal amount Bond Principal Balance of such Notesthe Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Bond Insurer, unless a Bond Insurer Default exists, or the Holders of Notes Bonds representing at least a majority of the Outstanding Amount Bond Principal Balances of the Controlling Securitiesall Bonds if a Bond Insurer Default exists, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer or the Bond Insurer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes the Bonds and all other amounts that would then be due hereunder or upon such Notes the Bonds if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. provided, however, the Bond Insurer, so long as no Bond Insurer Default exists, may waive an Event of Default regardless of Section 5.02(i) above. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Imh Assets Corp Impac CMB Trust Series 1999-1), Indenture (Imh Assets Corp Impac CMB Trust Series 1999-1), Indenture (Imh Assets Corp Collateralized Asset-Backed BDS Ser 1999-2)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee Trustee, at the direction or upon the prior written consent of the Note Insurer or the Holders Owners of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities may Notes may, with the prior written consent of the Note Insurer, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by NoteholdersOwners), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders Note Insurer or the Owners of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, with the prior written consent of the Note Insurer, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iiiii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Imc Home Equity Loan Owner Trust 1997-8), Indenture (Imc Home Equity Loan Owner Trust 1997-6), Indenture (Imc Securities Inc)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur and be continuingcontinuing of which a Responsible Officer of the Indenture Trustee has actual knowledge, then and in every such case the Indenture Trustee or may, and shall at the Holders of Notes representing at least a majority direction of the Outstanding Amount of the Controlling Securities may Majority Highest Priority Class Noteholders, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders)Issuer, and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. . (b) At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesMajority Highest Priority Class Noteholders, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) if the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on all Highest Priority Class Notes and all other amounts that would then be due hereunder or upon such Highest Priority Class Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iiiii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.125.11. No such rescission shall affect any subsequent default or impair any right consequent thereto. The Holders of Notes of a Non-Priority Class shall have no right to exercise any remedies of Noteholders under this Article V, except to the extent otherwise expressly provided herein.

Appears in 3 contracts

Sources: Indenture (Greenwich Capital Acceptance Thornburg Sec Tr 2003-4), Indenture (Structured Asset Sec Corp Thornburg Mort Sec Trust 2003 6), Indenture (Structured Asset Securities Corp Mort Back Notes Ser 2002 9)

Acceleration of Maturity; Rescission and Annulment. If (a) Subject to the provisions of Section 9.9 hereof, upon the occurrence of an Event of Default should occur and be continuingunder Section 9.1 hereof, then and in every such case case, the Indenture Trustee or Funding Lender may declare the Holders of Notes representing at least a majority principal of the Outstanding Amount of Funding Loan and the Controlling Securities may declare all Governmental Lender Note and the Notes interest accrued to be immediately due and payable, by a notice in writing to the Issuing Entity (Governmental Lender, Borrower and to the Indenture Trustee if given by Noteholders)Equity Investor, and upon any such declaration declaration, all principal of and Prepayment Premium, if any, and interest on the unpaid principal amount of such Notes, together with accrued Funding Loan and unpaid interest thereon through the date of acceleration, Governmental Lender Note shall become immediately due and payable. . (b) At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment pursuant to subsection (a) of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V providedSection, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities, Funding Lender may by written notice Written Notice to the Issuing Entity and the Indenture Trustee, may Governmental Lender rescind and annul such declaration and its consequences if: (i) the Issuing Entity there has paid or been deposited with the Indenture Trustee Funding Lender a sum sufficient to pay: (A1) all payments overdue installments of interest on the Funding Loan, (2) the principal of and Prepayment Premium on the Funding Loan that has become due otherwise than by such declaration of acceleration and interest on all Notes thereon at the rate or rates prescribed therefor in the Funding Loan, (3) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in the Funding Loan, and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B4) all sums paid or advanced by the Indenture Trustee hereunder Funding Lender and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and Funding Lender, its agents and counselcounsel (but only to the extent not duplicative with subclauses (1) and (3) above); and (ii) all Events of Default, other than the nonpayment non-payment of the principal of the Notes Funding Loan that has become due solely by such declaration of acceleration, have been cured or have been waived in writing as provided in Section 5.129.9 hereof. No such rescission and annulment shall affect any subsequent default or impair any right consequent theretothereon. (c) Notwithstanding the occurrence and continuation of an Event of Default, it is understood that the Funding Lender shall pursue no remedies against the Borrower, any of the Borrower’s partners or the Project if no Borrower Loan Agreement Default has occurred and is continuing. An Event of Default hereunder shall not in and of itself constitute a Borrower Loan Agreement Default.

Appears in 3 contracts

Sources: Funding Loan Agreement, Funding Loan Agreement, Funding Loan Agreement

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(g)) should occur and be continuingcontinuing with respect to any Series, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities Nuclear Asset-Recovery Bonds of such Series may declare all the Notes Nuclear Asset-Recovery Bonds of such Series to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee and the Commission if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of the Nuclear Asset-Recovery Bonds of such NotesSeries, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNuclear Asset-Recovery Bonds of such Series, by written notice to the Issuing Entity Issuer, the Commission and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and premium, if any, and interest on all Notes Nuclear Asset-Recovery Bonds of all Series due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Nuclear Asset-Recovery Bonds if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses; provided, that, the Indenture Trustee shall not be obligated to pay or advance any sums hereunder from its own funds after an Event of Default, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of DefaultDefault with respect to such Series, other than the nonpayment of the principal of the Notes Nuclear Asset-Recovery Bonds of such Series that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Duke Energy Florida, Llc.), Indenture (Duke Energy Florida, Llc.), Indenture (Duke Energy Florida, Llc.)

Acceleration of Maturity; Rescission and Annulment. Section 5.2 of the Base Indenture shall not apply to the Notes, and the following shall apply in lieu thereof. If an Event of Default should occur occurs and be continuingis continuing with respect to a series of Notes, then and in every such case except as provided below, the Indenture Trustee or the Holders of Notes representing at least a majority not less than 25% in aggregate principal amount of the Outstanding Amount Notes of the Controlling Securities such series may declare the principal amount of all the Notes such Notes, plus accrued and unpaid interest, if any, to be immediately due and payablepayable immediately, by a notice in writing to the Issuing Entity Company (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid such principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. However, upon an Event of Default arising out of Section 5.04(f) or Section 5.04(g), the principal amount of all Outstanding Notes, plus accrued and unpaid interest to the acceleration date, shall be due and payable immediately without notice from or other act on the part of the Trustee or any Holder. At any time after such a declaration of acceleration with respect to Notes of maturity a series has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V Indenture provided, the Holders of Notes representing at least a majority in aggregate principal amount of the Outstanding Amount Notes of the Controlling Securitiessuch series, by written notice to the Issuing Entity Company and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment non-payment of the principal and interest, if any, of the Notes that has which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.125.13 of the Base Indenture. No such rescission shall affect any subsequent default or impair any right consequent theretothereon. In case the Trustee shall have proceeded to enforce any right under the Indenture and such proceedings shall have been discontinued or been abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company and the Trustee shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue as though no such proceedings had been taken.

Appears in 3 contracts

Sources: First Supplemental Indenture (Hewlett Packard Enterprise Co), Third Supplemental Indenture (Juniper Networks Inc), First Supplemental Indenture (Juniper Networks Inc)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders holders of the Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholdersholders of the Notes), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders holders of the Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Key Bank Usa National Association), Indenture (Mellon Bank N A), Indenture (Key Bank Usa National Association)

Acceleration of Maturity; Rescission and Annulment. (a) If an Event of Default should occur under this Indenture shall have occurred and be continuing, then and in every such case continuing at any time when the Indenture Trustee is the Controlling Party, the Indenture Trustee in its discretion may, or the if so requested in writing by Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities may Class, shall, declare by written notice to the Issuer all of the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders), and upon any such declaration declaration, the unpaid principal amount Outstanding Amount of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. Notwithstanding anything to the contrary in this paragraph (a), if an Event of Default specified in clauses (iv) or (v) of Section 5.01 shall have occurred and be continuing at any time when the Indenture Trustee is the Controlling Party, the Notes shall become immediately due and payable at par, together with accrued interest thereon. (b) [Reserved]. (c) [Reserved]. (d) At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesClass, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, expenses and disbursements and advances of the Indenture Trustee and its agents and counsel and the reasonable compensation, expenses and disbursements of the Owner Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Regions Auto Receivables Trust 2002-1), Indenture (Regions Auto Receivables Trust 2003-1), Indenture (Regions Acceptance LLC Regions Auto Receivables Tr 2003-2)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingcontinuing or if the Servicer shall purchase all of the Mortgage Loans pursuant to Section 8.08 of the Servicing Agreement, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount Security Balances of the Controlling Securities all Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Class of Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. Unless the prior written consent of the Credit Enhancer shall have been obtained by the Indenture Trustee, the Payment Date upon which such accelerated payment is due and payable shall not be a Payment Date under the Credit Enhancement Instrument and the Indenture Trustee shall not be authorized under Section 3.28 to make a draw therefor. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount Security Balances of the Controlling Securitiesall Notes, by written notice to the Issuing Entity and the Indenture Trustee, may waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (American Home Mortgage Assets LLC), Indenture (Structured Asset Mortgage Investments Ii Inc), Indenture (American Home Mortgage Securities LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount Security Balances of the Controlling Securities all Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Class of Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. Unless the prior written consent of the Credit Enhancer shall have been obtained by the Indenture Trustee, the Payment Date upon which such accelerated payment is due and payable shall not be a Payment Date under the Credit Enhancement Instrument and the Indenture Trustee shall not be authorized under Section 3.32 to make a draw therefor. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount Security Balances of the Controlling Securitiesall Notes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such the Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (J P Morgan Acceptance Corp I), Indenture (Chase Manhattan Acceptance Corp /De/), Indenture (J P Morgan Acceptance Corp I)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Required Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer and the Rating Agencies (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V V; provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesRequired Holders, by written notice to the Issuing Entity Issuer and the Indenture TrusteeTrustee and the Swap Counterparty, may rescind and annul such declaration and its consequences if: (iA) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on the Notes, all Notes scheduled payments then due and payable under each Swap and all other amounts that would then be due hereunder or hereunder, upon such the Notes and under each Swap if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iiB) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.125.13. No such rescission or annulment shall affect any subsequent default or impair any right consequent thereto. No such rescission or annulment shall affect a Swap or any Swap Transaction that has been terminated in accordance with the terms thereof.

Appears in 3 contracts

Sources: Indenture (American Capital Strategies LTD), Indenture (American Capital Strategies LTD), Indenture (American Capital Strategies LTD)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(g)) should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Securitized Utility Tariff Bonds may declare all the Notes Securitized Utility Tariff Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee and the Kansas Commission if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Securitized Utility Tariff Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesSecuritized Utility Tariff Bonds, by written notice to the Issuing Entity Issuer, the Kansas Commission and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and premium, if any, and interest on all Notes Securitized Utility Tariff Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Securitized Utility Tariff Bonds if the Event of Default giving rise to such acceleration had not occurredoccurred and was not continuing; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expensesindemnities and expenses of the Indenture Trustee; provided, that, the Indenture Trustee shall not be obligated to pay or advance any sums hereunder from its own funds after an Event of Default, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes Securitized Utility Tariff Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Kansas Gas Service Securitization I, L.L.C.), Indenture (Kansas Gas Service Securitization I, L.L.C.), Indenture (Kansas Gas Service Securitization I, L.L.C.)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee Trustee, at the direction or upon the prior written consent of the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Securities Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) 1. all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B) 2. all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (Residential Asset Funding Corp), Indenture (Home Equity Securitization Corp), Indenture (Bear Stearns Asset Backed Securities Inc)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default under Section 5.01(g)) should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities Storm Recovery Bonds may declare all the Notes Storm Recovery Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee and the Louisiana Commission if given by NoteholdersHolders), and upon any such declaration the unpaid principal amount of such Notesthe Storm Recovery Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesStorm Recovery Bonds, by written notice to the Issuing Entity Issuer, the Louisiana Commission and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and premium, if any, and interest on all Notes Storm Recovery Bonds due and owing at such time as if such Event of Default had not occurred and was not continuing and all other amounts that would then be due hereunder or upon such Notes the Storm Recovery Bonds if the Event of Default giving rise to such acceleration had not occurredoccurred and was not continuing; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, indemnities, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; provided, that, the Indenture Trustee shall not be obligated to pay or advance any sums hereunder from its own funds if an Event of Default has occurred and is continuing; and (iib) all Events of Default, other than the nonpayment of the principal of the Notes Storm Recovery Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default Default or impair any right consequent thereto.

Appears in 3 contracts

Sources: Indenture (SWEPCO Storm Recovery Funding LLC), Indenture (SWEPCO Storm Recovery Funding LLC), Indenture (SWEPCO Storm Recovery Funding LLC)

Acceleration of Maturity; Rescission and Annulment. If (a) Subject to the provisions of Section 9.10 hereof, upon the occurrence of an Event of Default should occur and be continuingunder Section 9.2 hereof, then and in every such case case, the Indenture Trustee or Funding Lender may declare the Holders of Notes representing at least a majority principal of the Outstanding Amount of Funding Loan and the Controlling Securities may declare all Governmental Lender Notes and the Notes interest accrued to be immediately due and payable, by a notice in writing to the Issuing Entity (Governmental Lender and to the Indenture Trustee if given by Noteholders), Borrower and upon any such declaration declaration, all principal of and Prepayment Premium, if any, and interest on the unpaid principal amount of such Notes, together with accrued Funding Loan and unpaid interest thereon through the date of acceleration, Governmental Lender Notes shall become immediately due and payable. . (b) At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment pursuant to subsection (a) of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V providedSection, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities, Funding Lender may by written notice Written Notice to the Issuing Entity and the Indenture TrusteeGovernmental Lender, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity There has paid or been deposited with the Indenture Trustee Funding Lender a sum sufficient to pay: pay (A1) all payments overdue installments of interest on the Governmental Lender Notes, (2) the principal of and Prepayment Premium on the Governmental Lender Notes that has become due otherwise than by such declaration of acceleration and interest on all Notes thereon at the rate or rates prescribed therefor in the Governmental Lender Notes, (3) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in the Governmental Lender Notes, and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B4) all sums paid or advanced by the Indenture Trustee hereunder Funding Lender and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and Funding Lender, its agents and counselcounsel (but only to the extent not duplicative with subclauses (1) and (3) above); and (ii) all All Events of Default, other than the nonpayment of the principal of the Governmental Lender Notes that has which have become due solely by such declaration of acceleration, have been cured or have been waived in writing as provided in Section 5.129.10 hereof. No such rescission and annulment shall affect any subsequent default or impair any right consequent theretothereon. (c) Notwithstanding the occurrence and continuation of an Event of Default, it is understood that the Funding Lender shall pursue no remedies against the Borrower or the Project if no Borrower Loan Agreement Default has occurred and is continuing. An Event of Default hereunder shall not in and of itself constitute a Borrower Loan Agreement Default.

Appears in 3 contracts

Sources: Funding Loan Agreement, Funding Loan Agreement, Funding Loan Agreement

Acceleration of Maturity; Rescission and Annulment. If an Indenture Event of Default should occur specified in Section 5.1(e) or Section 5.1(f) occurs, the principal of all the Debentures and be all accrued interest (including any Additional Payments) shall automatically become immediately due and payable. If any other Indenture Event of Default occurs and is continuing, then then, and in every such case case, the Indenture Trustee or the Holders of Notes representing at least a majority in principal amount of the Outstanding Amount of the Controlling Securities Debentures may declare the principal of all the Notes Debentures and any other amounts payable hereunder to be immediately due and payablepayable immediately, by a notice in writing given to the Issuing Entity Company (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid such principal amount of such Notes, together with and all accrued and unpaid interest thereon through the date of acceleration, (including any Additional Payments) shall become immediately due and payable. At any time after such a declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedhereinafter, the Holders of Notes representing at least a majority in aggregate principal amount of the Outstanding Amount of the Controlling SecuritiesDebentures, by written notice to the Issuing Entity Company and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (ia) the Issuing Entity Company has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of overdue interest (including any Additional Payments) on all Debentures, (ii) the principal of any Debentures that have become due otherwise than by such declaration of acceleration and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if thereon at the Event of Default giving rise to such acceleration had not occurred; rate borne by the Debentures, and (Biii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and Trustee, its agents and counsel; and (iib) all Indenture Events of Default, other than the nonpayment non-payment of the principal of the Notes Debentures that has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.125.13. No such rescission shall affect any subsequent default or impair any right consequent theretothereon.

Appears in 2 contracts

Sources: Indenture (Westcoast Hospitality Corp), Indenture (Westcoast Hospitality Capital Trust)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities Notes, voting as a single class may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesNotes, voting as a single class, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:: 22 (NAROT 2019-A Indenture) (ia) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A1) all payments of principal of and interest on all the Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (B2) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and. (iib) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 2 contracts

Sources: Indenture (Nissan Auto Receivables 2019-a Owner Trust), Indenture (Nissan Auto Receivables 2019-a Owner Trust)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or at the written direction of the Holders of Notes Bonds representing at least not less than a majority of the Outstanding Amount aggregate Bond Principal Balance of the Controlling Securities Bonds may declare all the Notes Bonds to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer (and to the Indenture Trustee if such notice is given by NoteholdersBondholders), and upon any such declaration the unpaid principal amount Bond Principal Balance of such Notesthe Bonds, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity with respect to an Event of Default has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes Bonds representing at least not less than a majority of the Outstanding Amount aggregate Bond Principal Balance of the Controlling SecuritiesBonds, by written notice to the Issuing Entity Issuer and the Indenture Trustee, may waive the related Event of Default and rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (A) all payments of principal of and interest on all Notes the Bonds and all other amounts that would then be due hereunder or upon such Notes the Bonds if the Event of Default giving rise to such acceleration had not occurred; and (B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes Bonds that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto.

Appears in 2 contracts

Sources: Indenture (Imh Assets Corp), Indenture (Imh Assets Corp)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur with respect to Debentures at the time Outstanding occurs and be is continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority not less than 25% in principal amount of the Outstanding Amount Debentures may declare the principal amount of all of the Controlling Securities may declare all the Notes Debentures to be immediately due and payablepayable immediately, by a notice in writing to the Issuing Entity Company (and to the Indenture Trustee if given by NoteholdersHolders), and upon any such declaration the unpaid such principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, (or specified amount) shall become immediately due and payable. At any time after such a declaration of acceleration of maturity with respect to the Debentures has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority in aggregate principal amount of the Outstanding Amount of the Controlling SecuritiesDebentures, by written notice to the Issuing Entity Company and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i1) the Issuing Entity Company has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Aa) all payments of overdue interest on the Debentures, (b) the principal of any Debentures which has become due otherwise than by such declaration of acceleration and any interest on all Notes and all other amounts thereon at the rate prescribed therefor in the Debentures, (c) to the extent that would then be due hereunder or payment of such interest is lawful, interest upon such Notes if overdue interest at the Event of Default giving rise to such acceleration had not occurred; rate prescribed therefor in the Debentures, and (Bd) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and Trustee, its agents and counsel; and (ii2) all Events of DefaultDefault with respect to the Debentures, other than the nonpayment non-payment of the principal of the Notes that Debentures which has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.124.13. No such rescission or annulment shall affect any subsequent default or impair any right consequent theretothereon.

Appears in 2 contracts

Sources: Indenture (Berkshire Hathaway Energy Co), Indenture (Midamerican Energy Holdings Co /New/)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee may, or shall, at the direction of the Holders of Notes representing at least not less than a majority of the Outstanding Amount Balance of the Controlling Securities may Priority Class Notes, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer and the Swap Counterparty (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon on the Notes through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V Five provided, the Holders of Notes representing at least a majority of the Outstanding Amount Balance of the Controlling SecuritiesPriority Class Notes, by written notice to the Issuing Entity Issuer, the Swap Counterparty and the Indenture Trustee, may rescind and annul such declaration and its consequences if: (i) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee Trust Administrator a sum sufficient to pay: (Aa) all payments of principal of and interest on all affected Priority Class Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and (Bb) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission shall affect any subsequent default or impair any right consequent thereto. The Holders of Non-Priority Class Notes shall have no right to exercise any Noteholders’ rights referred to in this Article Five, except to the extent expressly provided herein.

Appears in 2 contracts

Sources: Indenture (Fieldstone Mortgage Investment CORP), Indenture (Fieldstone Mortgage Investment CORP)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling Securities Majority Noteholders may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuing Entity Issuer and the Rating Agencies (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Holders of Notes representing at least a majority of the Outstanding Amount of the Controlling SecuritiesMajority Noteholders, by written notice to the Issuing Entity Issuer and the Indenture TrusteeTrustee and each Hedge Counterparty, may rescind and annul such declaration and its consequences if: (iA) the Issuing Entity Issuer has paid or deposited with the Indenture Trustee a sum sufficient to pay: (Ai) all payments of principal of and interest on the Notes, all Notes scheduled payments then due and payable under each Hedge Agreement and all other amounts that would then be due hereunder or hereunder, upon such the Notes and each Hedge Agreement if the Event of Default giving rise to such acceleration had not occurred; and (Bii) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel; and (iiB) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. No such rescission or annulment shall affect any subsequent default or impair any right consequent thereto. No such rescission or annulment shall affect a Hedge Agreement or any Hedge Transaction that has been terminated in accordance with the terms thereof.

Appears in 2 contracts

Sources: Indenture (Capitalsource Inc), Indenture (Capitalsource Inc)