Common use of Acceleration of Maturity; Rescission and Annulment Clause in Contracts

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders representing at least a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 54 contracts

Samples: Indenture (SLM Student Loan Trust 2005-4), Indenture (SLM Student Loan Trust 2006-7), Indenture (SLM Student Loan Trust 2008-5)

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Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 39 contracts

Samples: Indenture (Daimlerchrysler Auto Trust 2001 B), Indenture (Nal Financial Group Inc), Indenture (Premier Auto Trust 1998-1)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders representing at least Holders of a majority of the Outstanding Amount of the Notes Notes, voting as a single class may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the Notes, voting as a single class, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 36 contracts

Samples: Indenture (Nissan Auto Receivables 2019-C Owner Trust), Indenture (Nissan Auto Receivables 2015-C Owner Trust), Indenture (Nissan Auto Receivables 2015-C Owner Trust)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer Issuing Entity (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such NotesOutstanding Amount, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the NotesAmount, by written notice to the Issuer Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 27 contracts

Samples: Indenture (CNH Equipment Trust 2017-A), Indenture (CNH Equipment Trust 2017-B), Indenture (CNH Equipment Trust 2019-B)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes Controlling Class may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the NotesControlling Class, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 19 contracts

Samples: Indenture (Daimlerchrysler Auto Trust 2008-B), Indenture (Chrysler Financial Auto Securitization Trust 2010-A), Indenture (Chrysler Financial Auto Securitization Trust 2009-A)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee may, or shall, at the Noteholders direction of the Holders of Notes representing at least not less than a majority of the Outstanding Amount Balance of the Notes may Priority Class Notes, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon on the Notes through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V Five provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount Balance of the Priority Class Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 12 contracts

Samples: Indenture (Fieldstone Mortgage Investment CORP), Indenture (NYMT Securities CORP), Indenture (Asset Backed Sec Corp Fieldstone Mort Inv Tr Ser 2004-2)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such NotesOutstanding Amount, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the NotesAmount, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 12 contracts

Samples: Indenture (Case Receivables Ii Inc), Indenture (Case Receivables Ii Inc), Indenture (CNH Capital Receivables Inc)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or at the direction of the Interested Noteholders representing at least not less than a majority of the Outstanding Amount of the Notes may applicable Classes of Notes, shall declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholdersthe holders of the Notes), and upon any such declaration the unpaid principal amount of such the Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Interested Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the applicable Classes of Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 10 contracts

Samples: Note Purchase Agreements (National Collegiate Student Loan Trust 2005-2), www.snl.com, www.snl.com

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 10 contracts

Samples: Indenture (SLM Funding Corp), Indenture (SLM Funding Corp), Indenture (Usa Group Secondary Market Services Inc)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 9 contracts

Samples: Indenture (SLM Funding LLC), Indenture (SLM Funding LLC), Indenture (SLM Funding LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 5.04 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 6 contracts

Samples: Indenture (SLM Education Credit Funding LLC), Indenture (SLM Education Credit Funding LLC), Administration Agreement (SLM Education Credit Funding LLC)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 6 contracts

Samples: Master Administration Agreement (SLM Funding LLC), Administration Agreement (SLM Funding LLC), SLM Funding LLC

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 5.04 of this Indenture. 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 V provided, the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Controlling Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 6 contracts

Samples: Indenture (SLM Private Credit Student Loan Trust 2005-A), Administration Agreement (SLM Private Credit Student Loan Trust 2007-A), Indenture (SLM Private Credit Student Loan Trust 2006-C)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to the last paragraph of Section 2.7C of the Administration Agreement and to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 5 contracts

Samples: Indenture (SLM Education Credit Funding LLC), Indenture (SLM Funding Corp), Indenture (SLM Funding Corp)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee Trustee, at the direction or upon the prior written consent of the Securities Insurer or the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 3 contracts

Samples: Indenture (Firstplus Investment Corp), Firstplus Investment Corp, Equivantage Acceptance Corp

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee may, or shall, at the Noteholders direction of the Holders of Notes representing at least not less than a majority of the Outstanding Amount Balance of the Notes may Priority Class Notes, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V Five provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount Balance of the Priority Class Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 3 contracts

Samples: Indenture (Sasco Mortgage Loan Trust Series 2004-Gel2), Indenture (SASCO Mortgage Loan Trust 2004-Gel3), Indenture (Sasco Mortgage Loan Trust Series 2003-Gel1)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Holders of Notes representing at least a majority not less than 50% of the Outstanding Amount of the Notes Controlling Securities may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer Issuing Entity (and to the Indenture Trustee if given by Noteholders), ) and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority 50% of the Outstanding Amount of the NotesControlling Securities, by written notice to the Issuer Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 3 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2006-B), Indenture (World Omni Auto Receivables Trust 2006-A), World Omni Auto Receivables LLC

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee Trustee, at the direction or upon the Noteholders representing at least a majority prior written consent of the Outstanding Amount of the Notes Majority Highest Priority Classes Noteholders, may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon thereon, and all accrued and unpaid interest on the Class A-4 IO Notes, through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money moneys due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the NotesMajority Highest Priority Classes Noteholders, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 3 contracts

Samples: Master Financial Asset Securitization Trust 1998-2, Master Financial Asset Securitization Trust 1998-2, Empire Funding Home Loan Owner Trust 1997-5

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee Trustee, at the direction or upon the Noteholders prior written consent of the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 3 contracts

Samples: Indenture (Bear Stearns Asset Backed Securities Inc), Residential Asset Funding Corp, Home Equity Securitization Corp

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingcontinuing of which a Responsible Officer of the Indenture Trustee has knowledge, then and in every such case the Indenture Trustee or Trustee, upon the Noteholders prior written direction of the Holders of Notes representing at least a majority not less than 66 2/3% of the Outstanding Amount of the Notes Notes, may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the NotesMajority Noteholder, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 2 contracts

Samples: Indenture (Household Mortgage Loan Trust 2003-Hc1), Household Mortgage Loan Trust 2002 Hc1

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur occurs and be is continuing, then and in every such case case, the Indenture Trustee or may, and at the Noteholders direction of Holders of Notes representing at least a majority more than 50% of the Class Note Balance of the Outstanding Amount of the Notes may Notes, shall, declare all the Notes to be immediately due and payable, payable by a notice in writing to the Issuer Trust (and to the Indenture Trustee if given by Noteholders), and upon any such declaration such Notes, in an amount equal to the entire unpaid principal amount Class Note Balance of such Notes, together with accrued and unpaid interest thereon through to the date of such acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. At any time after such a declaration of acceleration of maturity of the Notes has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter provided in this Article V providedV, the Noteholders Holders of Notes representing at least a majority more than 50% of the Class Note Balance of the Outstanding Amount of the Notes, by written notice to the Issuer Trust and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 2 contracts

Samples: Indenture (Accredited Mortgage Loan Trust 2004-4), Indenture (Accredited Mortgage Loan Trust 2005-1)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur shall have occurred and be continuing, then and in every such case the Indenture Trustee or the Noteholders representing at least a majority of the Outstanding Amount of the Notes Controlling Class may declare all the Notes to be immediately due and payable, by a written notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such NotesControlling Class, together with accrued and unpaid interest thereon through the date of accelerationsuch declaration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenturehereof. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the NotesControlling Class, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 2 contracts

Samples: Indenture (Chase Education Loan Trust 2007-A), Collegiate Funding of Delaware LLC

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee may, or shall, at the Noteholders direction of the Holders of Notes representing at least not less than a majority of the Outstanding Amount Balance of the Notes may Priority Class Notes, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer and the Swap Counterparty (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon on the Notes through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V Five provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount Balance of the Priority Class Notes, by written notice to the Issuer Issuer, the Swap Counterparty and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 2 contracts

Samples: Fieldstone Mortgage Investment CORP, Fieldstone Mortgage Investment CORP

Acceleration of Maturity; Rescission and Annulment. If an -------------------------------------------------- Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all of the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 2 contracts

Samples: Indenture (Deutsche Recreational Asset Funding Corp), Deutsche Recreational Asset Funding Corp

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur occurs and be is continuing, then and in every such case case, the Indenture Trustee or the Noteholders representing Holders of Notes entitled to at least a majority 40% of the Outstanding Amount of the Notes Voting Rights may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by the Noteholders), and upon any such declaration such Notes, in an amount equal to the unpaid principal amount Aggregate Current Principal Amount of such Notes, together with accrued and unpaid interest thereon through to the date of such acceleration, shall become immediately due and payable. Notwithstanding the foregoing, subject, however, the Trustee may not declare the Notes to be due and payable pursuant to this Section 5.4 5.02 as a result of this Indenturean Event of Default arising solely from the Issuer's failure to perform any of its agreements set forth in Section 6.07. At any time after such a declaration of acceleration of maturity Maturity of the Notes 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 V provided, the Noteholders Holders of Notes representing entitled to at least a majority 50% of the Outstanding Amount of the NotesVoting Rights, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 2 contracts

Samples: Mid State Trust Vi, Mid-State Homes Inc

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee may, or shall, at the Noteholders direction of the Holders of Notes representing at least not less than a majority of the Outstanding Amount Balance of the Notes may Priority Class Notes, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon on the Notes through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount Balance of the Priority Class Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 2 contracts

Samples: Indenture (Homebanc Corp), Indenture (HMB Acceptance Corp.)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders representing at least a majority of the Outstanding Amount of the Notes Controlling Class may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such NotesControlling Class, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the NotesControlling Class, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 2 contracts

Samples: Indenture (Wachovia Student Loan Trust 2005-1), Wachovia Education Loan Funding LLC

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 2 contracts

Samples: Administration Agreement (SLM Funding LLC), SLM Funding LLC

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur occurs and be is continuing, then and in every such case case, the Indenture Trustee or may, and on request of the Noteholders Holders of Notes representing at least a majority not less than 50% of the Principal Balance of the Outstanding Amount of the Notes may Notes, shall, declare all the Notes to be immediately due and payable, payable by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration such Notes, in an amount equal to the unpaid principal amount Principal Balance of such Notes, together with accrued and unpaid interest thereon through to the date of such acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. At any time after such a declaration of acceleration of maturity of the Notes 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 V provided, provided the Noteholders Holders of Notes representing at least a majority more than 50% of the Principal Balance of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Wells Fargo Asset Securities Corp

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Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then then, and in every such case case, the Indenture Trustee or the Noteholders Registered Owners of Notes representing at least not less than a majority in aggregate principal amount of the Outstanding Amount of the Notes may declare all the Outstanding Notes to be immediately due and payable, by a notice in writing to the Issuer Authority (and to the Indenture Trustee if given by Noteholdersthe Registered Owners), and upon any such declaration declaration, the unpaid principal amount of such Outstanding Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture6.04 hereof. 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 V provided, the Noteholders Registered Owners of Notes representing at least a majority in aggregate principal amount of the Outstanding Amount of the NotesNotes then Outstanding, by written notice to the Issuer Authority and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Indenture of Trust

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Holders of Notes in the Controlling Classes representing at least not less than a majority of the Outstanding Amount of the Notes in the Controlling Classes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such NotesOutstanding Amount, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes in the Controlling Classes representing at least not less than a majority of the Outstanding Amount of the NotesNotes in the Controlling Classes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Indenture (Case Receivables Ii Inc)

Acceleration of Maturity; Rescission and Annulment. If -------------------------------------------------- an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Asset Backed Securities Corp

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuingcontinuing and a Responsible Officer of the Indenture Trustee has received written notice or has actual knowledge thereof, then and in every such case the Indenture Trustee or may, and shall, upon the Noteholders prior written direction of the Holders of Notes representing at least a majority not less than 66-2/3% of the Outstanding Amount of the Notes may Notes, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the NotesMajority Noteholder, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: HFC Revolving Corp Household Home Equity Loan Trust 2003 2

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders representing at least a majority of the Outstanding Amount of the Controlling Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the V; provided that Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Indenture (SLM Student Loan Trust 2008-9)

Acceleration of Maturity; Rescission and Annulment. If -------------------------------------------------- an Event of Default should occur and be continuingcontinuing with respect to any Series, then and in every such case the Indenture Note Trustee or the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes of all Series may declare all the Notes to be immediately due and payable, by a notice in writing to the Note Issuer (and to the Indenture Note Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notesthe Notes of all Series, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 Note Trustee as hereinafter in this Article V provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the NotesNotes of all Series, by written notice to the Note Issuer and the Indenture Note Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Sce Funding LLC

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Registered Owners of Notes representing at least not less than a majority in aggregate principal amount of the Outstanding Amount of the Notes may declare all the Outstanding Notes to be immediately due and payable, by a notice in writing to the Issuer Authority (and to the Indenture Trustee if given by Noteholdersthe Registered Owners), and upon any such declaration the unpaid principal amount of such Outstanding Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture6.04 hereof. 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 V provided, the Noteholders Registered Owners of Notes representing at least a majority in aggregate principal amount of the Outstanding Amount of the NotesNotes then Outstanding, by written notice to the Issuer Authority and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Indenture of Trust

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Holders of Notes representing at least a majority not less than 66-2/3% of the Outstanding Principal Amount of the Controlling Note Class of Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority not less than 66-2/3% of the Outstanding Principal Amount of the Controlling Note Class of Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Indenture (Bank One Auto Securitization Trust 2003-1)

Acceleration of Maturity; Rescission and Annulment. If -------------------------------------------------- an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee Trustee, at the direction or upon the Noteholders prior written consent of the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, --------- the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Indenture (Financial Asset Securities Corp)

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee may, or shall, at the Noteholders direction of the Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may Priority Class Notes, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V Five provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the Priority Class Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: BLG Securities Company, LLC

Acceleration of Maturity; Rescission and Annulment. If -------------------------------------------------- an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: SLM Funding Corp

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or may, and shall, upon the Noteholders prior written direction of the Holders of Notes representing at least a majority not less than 66-2/3% of the Outstanding Amount of the Notes may Notes, declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the NotesMajority Noteholder, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: HFC Revolving Corp Household Home Equity Ln Tr 2003 1

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee Trustee, at the direction or upon the Noteholders representing at least a majority prior written consent of the Outstanding Amount of the Notes Majority Highest Priority Classes Noteholders may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money moneys due has been obtained by the Indenture Trustee as hereinafter in this Article V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the NotesMajority Highest Priority Classes Noteholders, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Painewebber Mort Accept Corp Iv Ditech Home Loan Ownr 1998-1

Acceleration of Maturity; Rescission and Annulment. If -------------------------------------------------- an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: SLM Funding Corp

Acceleration of Maturity; Rescission and Annulment. If -------------------------------------------------- an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders Holders of Notes representing at least a majority not less than 50% of the Outstanding Amount of the Notes Controlling Securities may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders Holders of Notes representing at least a majority 50% of the Outstanding Amount of the NotesControlling Securities, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: World Omni Auto Receivables LLC

Acceleration of Maturity; Rescission and Annulment. If an Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders representing at least a majority of the Outstanding Amount of the Controlling Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the Controlling Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Indenture (SLC Private Student Loan Trust 2006-A)

Acceleration of Maturity; Rescission and Annulment. If an -------------------------------------------------- Event of Default should occur and be continuingcontinuing with respect to any Series, then and in every such case the Indenture Note Trustee or the Noteholders Holders of Notes representing at least not less than a majority of the Outstanding Amount of the Notes of all Series may declare all the Notes to be immediately due and payable, by a notice in writing to the Note Issuer (and to the Indenture Note Trustee if given by NoteholdersNote holders), and upon any such declaration the unpaid principal amount of such Notesthe Notes of all Series, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 Note Trustee as hereinafter in this Article V provided, the Noteholders Holders of Notes representing at least a majority of the Outstanding Amount of the NotesNotes of all Series, by written notice to the Note Issuer and the Indenture Note Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Indenture (Sierra Pacific Power Co)

Acceleration of Maturity; Rescission and Annulment. If an -------------------------------------------------- Event of Default should occur and be continuing, then and in every such case the Indenture Trustee or the Noteholders of Notes representing at least a majority not less than 66-2/3% of the Outstanding Amount of the Notes may declare all the Notes to be immediately due and payable, by a notice in writing to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon any such declaration the unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable, subject, however, to Section 5.4 of this Indenture. 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 V provided, the Noteholders of Notes representing at least a majority of the Outstanding Amount of the Notes, by written notice to the Issuer and the Indenture Trustee, may rescind and annul such declaration and its consequences if:

Appears in 1 contract

Samples: Signet Bank Maryland

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