Owner Participant's Right to Elect to Prepay or Purchase the Certificates. (a) If (i) an Event of Default shall have occurred and be continuing for more than 180 days or the Certificates shall have become due and payable pursuant to Section 7.02(b) or (c) hereof or (ii) an Event of Default shall have occurred and be continuing for not more than 180 days and the Certificates shall not have become due and payable pursuant to Section 7.02(b) or (c) hereof, the Owner Participant (or the Owner Trustee on behalf of the Owner Participant) may, but shall be under no obligation to, do either of the following:
Appears in 11 contracts
Samples: Indenture and Security Agreement (Federal Express Corp), Indenture and Security Agreement (Federal Express Corp), Indenture and Security Agreement (Federal Express Corp)
Owner Participant's Right to Elect to Prepay or Purchase the Certificates. (a) If (i) an Event of Default shall have occurred and be continuing for more than 180 days or the Certificates shall have become due and payable pursuant to Section 7.02(b) or (c) hereof or (ii) an Event of Default shall have occurred and be continuing for not more than 180 days and the Certificates shall not have become due and payable pursuant to Section 7.02(b) or (c) hereof, the Owner Participant Participants (or the Owner Trustee on behalf of the Owner ParticipantParticipants) may, but shall be under no obligation to, do either of the following:
Appears in 1 contract
Samples: Indenture and Security Agreement (Federal Express Corp)
