Common use of Unconditional Rights of Noteholders to Receive Principal and Interest Clause in Contracts

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture or the Series Supplement (or, in the case of redemption or tender pursuant to the Series Supplement, on or after the related redemption or tender date) and to institute a suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

Appears in 5 contracts

Sources: Indenture (HSBC Automotive Trust (USA) 2006-1), Indenture (HSBC Automotive Trust (USA) 2007-1), Indenture (Household Auto Receivables Corp)

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment payments of Monthly Interest and (in the principal case of and interest, if any, Class A Notes) Monthly Principal on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture or the Series Supplement (or, in the case of redemption or tender pursuant to the Series Supplementredemption, on or after the related redemption or tender dateRedemption Date) and to institute a suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

Appears in 3 contracts

Sources: Indenture (Bay View Deposit CORP), Indenture (Bay View Transaction Corp), Indenture (Bay View Securitization Corp)

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other Subject to the provisions in of this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture or the Series Supplement (or, in the case of redemption or tender pursuant to the Series Supplementredemption, on or after the related redemption or tender date) Redemption Date), to the extent that funds are available for distribution to each such Holder on such due dates, and to the Controlling Party may institute a suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

Appears in 2 contracts

Sources: Indenture (Long Beach Acceptance Corp), Indenture (Long Beach Acceptance Corp)

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions provision in this Indenture, the Holder of any Note shall have the right, to the extent permitted by applicable law, which right is absolute and unconditionalunconditional except to the extent restricted by applicable law, to receive payment of the principal each installment of interest when due and interest, if any, payable on such Note on or after the respective due dates thereof expressed in Payment Dates of such installments of interest and to receive payment of each installment of principal of such Note when Due (or in this Indenture or the Series Supplement (or, in the case of redemption or tender pursuant to the Series Supplementany Note called for redemption, on or after the related redemption or tender datedate fixed for such redemption) and to institute a suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

Appears in 2 contracts

Sources: Indenture (Mid State Trust Vi), Indenture (Mid-State Homes Inc)

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the The Holder of any Note shall have the right, to the extent permitted by applicable law, which right is absolute and unconditionalunconditional except to the extent restricted by applicable law, to receive payment of the principal each installment of interest when due and interest, if any, payable on such Note on or after the respective due dates thereof expressed in Payment Dates of such installments of interest and to receive payment of each installment of principal of such Note when due (or in this Indenture or the Series Supplement (or, in the case of redemption or tender pursuant to the Series Supplementany Note called for redemption, on or after the related redemption or tender datedate fixed for such redemption) and to institute a suit for the enforcement of any such payment, and except as otherwise set forth in this Indenture, such right shall not be impaired without the consent of such Holder.

Appears in 2 contracts

Sources: Indenture (Mid State Trust Vi), Indenture (Mid State Trust Vi)

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture or the Series Supplement (or, in the case of redemption or tender pursuant to the Series Supplement, on or after the related 30 redemption or tender date) and to institute a suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

Appears in 1 contract

Sources: Indenture (Household Auto Receivables Corp)

Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture or the Series Supplement (or, in the case of redemption or tender pursuant to the Series Supplement, on or after the related redemption or tender date) and to institute a suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

Appears in 1 contract

Sources: Indenture (Household Auto Receivables Corp)