Common use of Judicial Proceedings Instituted by Trustee; Trustee May Bring Suit Clause in Contracts

Judicial Proceedings Instituted by Trustee; Trustee May Bring Suit. If there shall be a failure to make payment of the principal of or premium, if any, or interest on any Deposited Asset, then the Trustee, in its own name, and as trustee of an express trust, as holder of such Deposited Assets, shall be, to the extent permitted by and in accordance with the terms of the applicable Deposited Assets, subject to the limitations on acceleration and the exercise of remedies set forth therein, entitled and empowered to institute any suits, actions or proceedings at law, in equity or otherwise, including the power to make a demand on the trustee in respect of such Deposited Assets, if provided for, to take action to enforce the collection of the sums so due and unpaid on such Deposited Assets and may prosecute any such claim or proceeding to judgment or final decree with respect to the whole amount of any such sums so due and unpaid.