Common use of Section 1111(b) Election Clause in Contracts

Section 1111(b) Election. Such TRO Holder irrevocably makes the election afforded to secured creditors by Section 1111(b)(1f)(A)(i) of the Bankruptcy Code to receive the treatment afforded by Section 1111(b)(2) of the Bankruptcy Code with respect to any secured claim that such TRO Holder may have at any time against the Titling Trust or against any Series other than the Series in connection with which such TRO Document was issued or entered into.

Section 1111(b) Election. Such TRO Holder irrevocably makes the election afforded to secured creditors by Section 1111(b)(1f)(A)(i1111(b)(1)(A)(i) of the Bankruptcy Code to receive the treatment afforded by Section 1111(b)(2) of the Bankruptcy Code with respect to any secured claim that such TRO Holder may have at any time against the Titling Trust or against any Series other than the Series in connection with which such TRO Document was issued or entered into.