Common use of Final Scheduled Payment Date Clause in Contracts

Final Scheduled Payment Date. The Indenture Trustee shall, by no later than the 10th day before the Final Scheduled Payment Date, notify the Swap Counterparty, and shall arrange for the sale, for settlement on the Final Scheduled Payment Date, in accordance with the Sale Procedures, of all Eligible Investments and Collateral Obligations then held by the Trustee and shall, irrespective of whether an Asset Impairment Event (as defined in the Swap Agreement) has then occurred, distribute the proceeds thereof in accordance with the priorities set forth in Section 4a(iii) above.