Common use of Collection of Indebtedness and Suits for Enforcement by Note Trustee Clause in Contracts

Collection of Indebtedness and Suits for Enforcement by Note Trustee. (a) The Note Issuer covenants that if (i) default is made in the payment of any interest on any Note when the same becomes due and payable, and such default continues for a period of five days, (ii) default is made in the payment of the then unpaid principal of any Note on the Final Maturity Date for such Note or (iii) default is made in the payment of the Optional Redemption Price or Mandatory Redemption Price, as applicable, for any Note on the Optional Redemption Date or Mandatory Redemption Date, as applicable, therefor, the Note Issuer will, upon demand of the Note Trustee, pay to it, for the benefit of the Holders of the Notes, the whole amount then due and payable on such Notes for principal and interest, with interest upon the overdue principal and, to the extent payment at such rate of interest shall be legally enforceable, upon overdue installments of interest, at the respective rate borne by the Notes of the applicable Class and in addition thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Note Trustee and its agents and counsel and an amount sufficient to cover all amounts required to be paid by the Note Issuer under the Fee and Indemnity Agreement.

Collection of Indebtedness and Suits for Enforcement by Note Trustee. (a) The Note Issuer covenants that if (i) default is made in the payment of any interest on any Note when the same becomes due and payable, and such default continues for a period of five days, (ii) default is made in the payment of the then unpaid principal of any Note on the Final Maturity Date for such Note or (iii) default is made in the payment of the Optional Redemption Price or Mandatory Redemption Price, as applicable, for any Note on the Optional Redemption Date or Mandatory Redemption Date, as applicable, therefor, the Note Issuer will, upon demand of the Note Trustee, pay to it, for the benefit of the Holders of the Notes, the whole amount then due and payable on such Notes for principal and interest, with interest upon the overdue principal and, to the extent payment at such rate of interest shall be legally enforceable, upon overdue installments of interest, at the respective rate borne by the Notes of or the applicable Class and in addition thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Note Trustee and its agents and counsel and an amount sufficient to cover all amounts required to be paid by the Note Issuer under the Fee and Indemnity Agreementcounsel.