Common use of Optional Preservation of the Trust Estate Clause in Contracts

Optional Preservation of the Trust Estate. If the Bonds have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders that there be at all times sufficient funds for the payment of principal of and interest on the Bonds and other obligations of the Issuer, and the Indenture Trustee shall take such desire into account when determining whether or not to take and maintain possession of the Trust Estate. In determining whether to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

Appears in 6 contracts

Samples: Indenture (Imh Assets Corp Impact CMB Trust Series 2002-7), Indenture (Imh Assets Corp Impac CMB Trust Series 2002 9f), Servicing Agreement (Imh Assets Corp Impac CMB Trust Series 2003-9f)

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Optional Preservation of the Trust Estate. If the Bonds have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, may elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders that there be at all times sufficient funds for the payment of principal of and interest on the Bonds and other obligations of the Issuer, and the Indenture Trustee shall take such desire into account when determining whether or not to take and maintain possession of the Trust Estate. In determining whether to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

Appears in 5 contracts

Samples: Indenture (Imh Assets Corp), Servicing Agreement (Impac CMB Trust Collaterlized Ab Bond Series 2003-3), Indenture (Imh Assets Corp)

Optional Preservation of the Trust Estate. If the Bonds Notes have been declared to be due and payable under Section 5.02 5.2(a) following an Event of Default and such declaration and its consequences have not been rescinded and annulledannulled in accordance with Section 5.2(b), the Indenture Trustee may, but need not, elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Bonds and other obligations of the IssuerNotes, and the Indenture Trustee shall take such desire into account when determining whether or not to take and maintain possession of the Trust Estate. In determining whether to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

Appears in 4 contracts

Samples: Indenture (Navistar Financial Retail Receivables Corporation), Exhibit 99 (First Security Auto Owner Trust 1999 1), First Security Bank Na

Optional Preservation of the Trust Estate. If the Bonds Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, shall elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Bonds Notes and other obligations of the Issuer, and the Indenture Trustee shall take such desire into account when determining whether or not to take and maintain possession of the Trust Estate. In determining whether to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

Appears in 3 contracts

Samples: Indenture (Impac Secured Assets CMN Trust Series 1998-1), Indenture (Imh Assets Corp), Indenture (Southern Pacific Secured Assets Corp)

Optional Preservation of the Trust Estate. If the Bonds Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, may elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Bonds Offered Notes and other obligations of the Issuer, Issuing Entity and the Indenture Trustee shall take such desire into account when determining whether or not to take and maintain possession of the Trust Estate. In determining whether to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

Appears in 2 contracts

Samples: Master Agreement (GSC Capital Corp. Mortgage Trust 2006-1), Merrill Lynch Mortgage Investors Inc

Optional Preservation of the Trust Estate. If the Bonds Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, may elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Bonds Notes and other obligations of the Issuer, Issuer and the Indenture Trustee shall take such desire into account when determining with respect to whether or not to take and maintain possession of the Trust Estate. In determining With respect to whether and how to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon the written advice or an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

Appears in 2 contracts

Samples: Indenture (Greenpoint Mortgage Funding Trust 2005-He4), Indenture (Greenpoint Mortgage Funding Trust 2005-He1)

Optional Preservation of the Trust Estate. If the Bonds Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, shall elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Bonds Notes and other obligations of the IssuerIssuer [including payments to the Note Insurer], and the Indenture Trustee shall take such desire into account when determining whether or not to take and maintain possession of the Trust Estate. In determining whether to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

Appears in 1 contract

Samples: Default And (Superior Bank FSB)

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Optional Preservation of the Trust Estate. If the Bonds Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, may elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders Noteholders that 45 there be at all times sufficient funds for the payment of principal of and interest on the Bonds Notes and other obligations of the Issuer, and the Indenture Trustee shall take such desire into account when determining whether or not to take and maintain possession of the Trust Estate. In determining whether to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

Appears in 1 contract

Samples: C-Bass Mortgage Loan as-BCK Nt Sal Mort Ln Tr Ser 2001-Cb4

Optional Preservation of the Trust Estate. If the Bonds Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, may elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Bonds Notes and other obligations of the Issuer, Issuer and the Indenture Trustee Trustee, shall take such desire into account when determining whether or not to take and maintain possession of the Trust Estate. In determining whether to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

Appears in 1 contract

Samples: Servicing Agreement (American Home Mort Securities Home Mortgage Invest Tr 2004-1)

Optional Preservation of the Trust Estate. If the Bonds Notes have been declared to be due and payable under Section 5.02 SECTION 5.2 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Bonds and other obligations of the IssuerNotes, and the Indenture Trustee shall take such desire into account when determining whether or not to take and maintain possession of the Trust Estate. In determining whether to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.. indt.form.01.wpd

Appears in 1 contract

Samples: Wholesale Auto Receivables Corp

Optional Preservation of the Trust Estate. If the Bonds Notes have been declared to be due and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, may elect to take and maintain possession of the Trust Estate. It is the desire of the parties hereto and the Bondholders Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Bonds Notes and other obligations of the Issuer, Issuer and the Indenture Trustee shall take such desire into account when determining whether or not to take and maintain possession of the Trust Estate. In determining whether to take and maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

Appears in 1 contract

Samples: Indenture (Structured Asset Mort Inv Inc Mort Back NTS Ser 2003-1)

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