Optional Preservation of the Receivables. If the Notes shall have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences shall not have been rescinded and annulled, the Indenture Trustee shall, absent direction to the contrary from the Insurer or the Noteholders pursuant to Section 5.04, maintain possession of the Pledged Assets.
Appears in 10 contracts
Sources: Indenture (Uacsc Auto Trusts Uacsc 1999-D Owner Trust Auto Rec Bac Note), Indenture (Uacsc 2001-C Owner Trust), Indenture (Uacsc 2002-a Owner TRST Auto Receivable Back Nt)
Optional Preservation of the Receivables. If the Notes shall have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences shall have not have been rescinded and annulled, the Indenture Trustee shall, absent direction to the contrary from the Insurer or the Noteholders pursuant to Section 5.04, maintain possession of the Pledged Assets.
Appears in 6 contracts
Sources: Indenture (Bay View Deposit CORP), Indenture (Uacsc 1999-B Owner Tr Auto Rec Bk Notes), Indenture (Uacsc Auto Trusts)
Optional Preservation of the Receivables. If the Notes shall have been declared to be due and payable under Section 5.02 hereof following an Event of Default and such declaration and its consequences shall have not have been rescinded and annulled, the Indenture Trustee shall, absent direction to the contrary from the Insurer or the Noteholders pursuant to Section 5.045.04 hereof, maintain possession of the Pledged Assets.
Appears in 2 contracts
Sources: Indenture (Bay View Deposit CORP), Indenture (Bay View Deposit CORP)
Optional Preservation of the Receivables. If the Notes shall have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences shall have not have been rescinded and annulled, the Indenture Trustee shall, absent direction to the contrary from the Insurer or the Noteholders pursuant to Section 5.04, maintain possession of the Pledged Assets.
Appears in 1 contract
Optional Preservation of the Receivables. If the Notes shall have been declared to be due and payable under Section 5.02 5.2 following an Event of Default Default, and such declaration and its consequences shall have not have been rescinded and annulled, the Indenture Trustee shallmay, absent direction but need not, elect to the contrary from the Insurer or the Noteholders pursuant to Section 5.04, maintain possession of the Pledged Assets.Indenture Trust Estate and apply proceeds as if there had been no declaration
Appears in 1 contract
Optional Preservation of the Receivables. If the Notes shall have been declared to be due and payable under Section 5.02 hereof following an Event of Default and such declaration and its consequences shall have not have been rescinded and annulled, the Indenture Trustee shall, absent direction to the contrary from the Insurer or the Noteholders pursuant to Section 5.045.04 hereof, maintain possession of the Pledged Assets.
Appears in 1 contract
Sources: Indenture (Bay View Deposit CORP)