Common use of Rights Upon Event of Default Clause in Contracts

Rights Upon Event of Default. If an Event of Default, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing the Indenture Trustee or the Required Holders may declare the principal amount of the Notes immediately due and payable at par. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five provided, the Required Holders may rescind such declaration if (i) the Issuer has made all payments of principal of and interest on all Notes that have become due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.

Appears in 29 contracts

Samples: Indenture (Harley-Davidson Motorcycle Trust 2024-A), Indenture (Harley-Davidson Motorcycle Trust 2024-A), Indenture (Harley-Davidson Motorcycle Trust 2023-B)

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Rights Upon Event of Default. If an Event of DefaultDefault shall have occurred and be continuing, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing the Indenture Trustee or the Modified Required Holders may declare the principal amount of the Notes immediately due and payable at par. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five Five, provided, the Required Holders may rescind such declaration if (i) the Issuer has made all payments of principal of and interest on all Notes that have become when the same becomes due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.

Appears in 20 contracts

Samples: Indenture (Harley-Davidson Motorcycle Trust 2004-2), Sale and Servicing Agreement and Trust Agreement (Harley-Davidson Motorcycle Trust 2007-3), Indenture (Harley Davidson Customer Funding Corp)

Rights Upon Event of Default. (a) If an Event of Default, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing continuing, the Indenture Trustee may, or if so requested in writing by Holders of Notes representing at least a majority of the Required Holders may declare the principal amount Outstanding Amount of the Notes of the Controlling Class, upon prior written notice to each Rating Agency, shall declare by written notice to the Issuer that the Notes become, whereupon they shall become, immediately due and payable at par, together with accrued interest thereon and all other amounts due hereunder. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of Notwithstanding anything to the money due has been obtained by the Indenture Trustee as hereinafter contrary in this Article Five providedparagraph, the Required Holders may rescind such declaration if (i) the Issuer has made all payments of principal of and interest on all Notes that have become due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable to the Indenture Trustee. If an Event of Default described specified in Section 5.01(iv) or (v) shall have occurred occur and be continuing, the principal amount of continuing the Notes shall become immediately due and payablepayable at par, together with accrued interest thereon and all other amounts payable hereunder, without any declaration or other act on the part of the Trustee or any Holder of the Notes. Payments on the Notes upon a declaration of acceleration of maturity pursuant to this Section shall be made in accordance with Section 2.07(c).

Appears in 12 contracts

Samples: Indenture (WFS Receivables Corp 3), Indenture (WFS Financial 2005-3 Owner Trust), Indenture (WFS Receivables Corp 4)

Rights Upon Event of Default. If an Event of DefaultDefault shall have occurred and be continuing, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing the Indenture Trustee or the Required Holders may declare the principal amount of the Notes immediately due and payable at par. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five Five, provided, the Required Holders may rescind such declaration if (i) the Issuer has made all payments of principal of and interest on all Notes that have become when the same becomes due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.

Appears in 10 contracts

Samples: Sale and Servicing Agreement (Harley-Davidson Motorcycle Trust 2011-2), Sale and Servicing Agreement (Harley-Davidson Motorcycle Trust 2011-2), Indenture (Harley-Davidson Motorcycle Trust 2011-1)

Rights Upon Event of Default. If an Event of DefaultDefault shall have occurred and be continuing, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing the Indenture Trustee or the Modified Required Holders may declare the principal amount of the Notes immediately due and payable at par. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five providedFive, PROVIDED, the Required Holders may rescind such declaration if (i) the Issuer has made all payments of principal of and interest on all Notes that have become when the same becomes due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (Harley Davidson Customer Funding Corp), Sale and Servicing Agreement (Harley Davidson Customer Funding Corp), Sale and Servicing Agreement (Harley Davidson Customer Funding Corp)

Rights Upon Event of Default. If an Event of DefaultDefault shall have occurred and be continuing, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing the Indenture Trustee or the Required Holders may declare the principal amount of the Notes immediately due and payable at par. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five provided, the Required Holders may rescind such declaration if (i) the Issuer has made all payments of principal of and interest on all Notes that have become due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.

Appears in 4 contracts

Samples: Indenture (Harley-Davidson Motorcycle Trust 2013-1), Indenture (Harley-Davidson Motorcycle Trust 2013-1), Indenture (Harley-Davidson Motorcycle Trust 2012-1)

Rights Upon Event of Default. If an Event of DefaultDefault shall have occurred and be continuing, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing the Indenture Trustee or the Required Holders may declare the principal amount of the Notes immediately due and payable at par. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five provided, the Required Holders may rescind such declaration if (i) the Issuer has made all payments of principal of and interest on all Notes that have become when the same becomes due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.

Appears in 1 contract

Samples: Indenture (Harley Davidson Customer Funding Corp)

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Rights Upon Event of Default. If an Event of Default, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing continuing, the Indenture Trustee may, and at the direction of the Note Purchaser and the Majority Noteholders shall, and with respect to an Event of Default pursuant to Section 5.1(a)(v) or (vi) hereof, the Required Holders may Trustee shall declare the principal amount of the Notes to be immediately due and payable at par, together with accrued interest thereon (calculated for these purposes using the Default Applicable Margin). In addition, if an Event of Default shall have occurred and be continuing, the Trustee may, and at the direction of the Note Purchaser and the Majority Noteholders shall, exercise any of the remedies specified in SECTION 5.4. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five V provided, the Required Holders may Note Purchaser and the Majority Noteholders may, by written notice to the Issuer and the Trustee, rescind and annul such declaration and its consequences if (i) the Issuer has made all payments of principal of and interest on all Notes that have become due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable or deposited with the Trustee a sum sufficient to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.pay:

Appears in 1 contract

Samples: Indenture (Consumer Portfolio Services Inc)

Rights Upon Event of Default. If an Event of Default, other than an Default or a Funding Termination Event specified in clauses (i) through (iii) of Default described in Section 5.01(iv) or (v) above, the definition thereof shall have occurred and be continuing continuing, the Indenture Trustee or may, and at the Required Holders may direction of the Note Purchaser and the Majority Noteholders shall, and with respect to an Event of Default pursuant to Section 5.1(a)(v) hereof, the Trustee shall declare the principal amount of the Notes to be immediately due and payable at par, together with accrued interest thereon (calculated for those purposes using the Default Applicable Margin). In addition, if an Event of Default shall have occurred and be continuing, the Trustee may, and at the direction of the Note Purchaser and the Majority Noteholders shall, exercise any of the remedies specified in SECTION 5.4. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five V provided, the Required Holders may Note Purchaser and the Majority Noteholders may, by written notice to the Issuer and the Trustee, rescind and annul such declaration and its consequences if (i) the Issuer has made all payments of principal of and interest on all Notes that have become due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable or deposited with the Trustee a sum sufficient to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.pay:

Appears in 1 contract

Samples: Indenture (Consumer Portfolio Services Inc)

Rights Upon Event of Default. If an Event of Default, other than an Event of Default described in Section 5.01(iv) or (v) above, shall have occurred and be continuing continuing, the Indenture Trustee may, and at the direction of the Controlling Note Purchaser and the Majority Noteholders of the Highest Priority Class shall, and with respect to an Event of Default pursuant to Section 5.1(a)(v), (vi) or (viii) hereof, the Required Holders may Trustee shall declare the principal amount of the Notes to be immediately due and payable at par, together with accrued interest thereon (calculated for these purposes using the applicable Default Applicable Margin). In addition, if an Event of Default shall have occurred and be continuing, the Trustee may, and at the direction of the Controlling Note Purchaser and the Majority Noteholders of the Highest Priority Class shall, exercise any of the remedies specified in SECTION 5.4. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five V provided, the Required Holders may Controlling Note Purchaser and the Majority Noteholders of the Highest Priority Class may, by written notice to the Issuer and the Trustee, rescind and annul such declaration and its consequences if (i) the Issuer has made all payments of principal of and interest on all Notes that have become due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable or deposited with the Trustee a sum sufficient to the Indenture Trustee. If an Event of Default described in Section 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.pay:

Appears in 1 contract

Samples: Indenture (Consumer Portfolio Services Inc)

Rights Upon Event of Default. If an Event of DefaultDefault shall have occurred and be continuing, other than an Event of Default described in Section SECTION 5.01(iv) or (v) above, shall have occurred and be continuing the Indenture Trustee or the Modified Required Holders may declare the principal amount of the Notes immediately due and payable at par. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article Five providedARTICLE FIVE, PROVIDED, the Required Holders may rescind such declaration if (i) the Issuer has made all payments of principal of and interest on all Notes that have become when the same becomes due and payable (other than by reason of acceleration of the Notes) and (ii) the Issuer has paid all amounts due and payable to the Indenture Trustee. If an Event of Default described in Section SECTION 5.01(iv) or (v) shall have occurred and be continuing, the principal amount of the Notes shall become immediately due and payable.

Appears in 1 contract

Samples: Indenture (Harley Davidson Customer Funding Corp)

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