Common use of Corridor Contract Clause in Contracts

Corridor Contract. (a) In the event that the Securities Administrator does not receive by the Business Day preceding a Payment Date the amount reported to the Securities Administrator as the amount to be paid with respect to such Payment Date by the Corridor Contract Counterparty under the Corridor Contract, the Securities Administrator shall notify the Indenture Trustee and the Indenture Trustee, at the direction of the Holders of a majority of the aggregate Note Principal Balances of the Notes in accordance with Section 5.11, shall enforce the obligation of the Corridor Contract Counterparty under such Corridor Contract. The parties hereto acknowledge that the Corridor Contract Counterparty shall make all calculations, and determine the amounts to be paid under the Corridor Contract. The Securities Administrator may conclusively rely on such calculations and determination and any notice received by it from the Corridor Contract Counterparty pursuant to the Corridor Contract. The Indenture Trustee may conclusively rely on information provided to it by the Securities Administrator. The Indenture Trustee has no obligation to monitor, and no liability for, the performance of the Securities Administrator under the Corridor Contract, and the Indenture Trustee shall be indemnified by the Trust and held harmless against any loss, liability or expense incurred in the administration of the Corridor Contract as provided under Section 6.07.

Corridor Contract. (a) In the event that the Securities Administrator does not receive by the Business Day preceding a Payment Date the amount reported to the Securities Administrator as the amount to be paid with respect to such Payment Date by the Corridor Contract Counterparty under the Corridor Contract, the Securities Administrator shall notify the Indenture Trustee and the Indenture Trustee, at the direction of the Holders of a majority of the aggregate Note Principal Balances of the Notes in accordance with Section 5.11, shall enforce the obligation of the Corridor Contract Counterparty under such Corridor Contract. The parties hereto acknowledge that the Corridor Contract Counterparty shall make all calculations, and determine the amounts to be paid paid, under the Corridor Contract. The Securities Administrator may conclusively rely on such calculations and determination and any notice received by it from the Corridor Contract Counterparty pursuant to the Corridor Contract. The Indenture Trustee may conclusively rely on information provided to it by the Securities Administrator. The Indenture Trustee has no obligation to monitor, and no liability for, the performance of the Securities Administrator under the Corridor Contract, and the Indenture Trustee shall be indemnified by the Trust and held harmless against any loss, liability or expense incurred in the administration of the Corridor Contract as provided under Section 6.07.

Corridor Contract. (a) In the event that the Securities Administrator does not receive by the Business Day preceding a Payment Date the amount reported to the Securities Administrator as the amount to be paid with respect to such Payment Date by the Corridor Contract Counterparty under the Corridor Contract, the Securities Administrator shall notify the Indenture Trustee and the Indenture Trustee, at the direction of the Holders of a majority of the aggregate Note Principal Balances of the Notes in accordance with Section 5.11, shall enforce the obligation of the Corridor Contract Counterparty under such Corridor Contract. The parties hereto acknowledge that the Corridor Contract Counterparty shall make all calculations, and determine the amounts to be paid paid, under the Corridor Contract. The Securities Administrator may conclusively rely on such calculations and determination and any notice received by it from the Corridor Contract Counterparty pursuant to the Corridor Contract. The Indenture Trustee may conclusively rely on information provided to it by the Securities Administrator. The Indenture Trustee has no obligation to monitor, and no liability for, the performance of the Securities Administrator under the Corridor Contract, and the Indenture Trustee shall be indemnified by the Trust and held harmless against any loss, liability or expense incurred in the administration of the each Corridor Contract as provided under Section 6.07.