Common use of Evidence of Default Clause in Contracts

Evidence of Default. If the Security Trustee or the Note Trustee takes any action against the Trustee to enforce any of the provisions of any US$ Notes or this deed, proof that as regards any US$ Note, the Trustee has not paid any principal or interest due in respect of that US$ Note shall (unless the contrary is proved) be sufficient evidence that the Trustee has not paid that principal or interest on all other US$ Notes in respect of which the relevant payment is then due.

Appears in 1 contract

Sources: Note Trust Deed (Crusade Management LTD)

Evidence of Default. If the Security Trustee or the Note Trustee takes any action against the Trustee to enforce any of the provisions of any US$ Notes Notes, or this deed, proof that as regards any US$ Note, the Trustee has not paid any principal or interest due in respect of that US$ Note shall (unless the contrary is proved) be sufficient evidence that the Trustee has not paid that principal or interest on all other US$ Notes in respect of which the relevant payment is then due.

Appears in 1 contract

Sources: Note Trust Deed (Interstar Securitisation Management Pty LTD)

Evidence of Default. If the Security Trustee or the Note Trustee takes any action against the Trustee to enforce any of the provisions of any US$ Notes Class A Notes, or this deed, proof that as regards any US$ Class A Note, the Trustee has not paid any principal or interest due in respect of that US$ Class A Note shall (unless the contrary is proved) be sufficient evidence that the Trustee has not paid that principal or interest on all other US$ Class A Notes in respect of which the relevant payment is then due.

Appears in 1 contract

Sources: Note Trust Deed (Interstar Securitisation Management Pty LTD)