Realization upon Defaulted Underlying Securities. (a) The Trustee on behalf of the Certificateholders, shall assert claims under each applicable Credit Support Instrument, and shall take such reasonable steps as are necessary to receive payment or to permit recovery thereunder with respect to any defaulted Underlying Securities, subject in all cases to the provisions of Article VII hereof.
Appears in 65 contracts
Samples: Market Agent Agreement (Merrill Lynch Depositor Inc Pplus Trust Series CMT-1), Market Agent Agreement (PPlus Trust Series LMG-4), Market Agent Agreement (Merrill Lynch Depositor Inc Public Steers Ser 1999 Ren C1 Tr)
Realization upon Defaulted Underlying Securities. (a) The Trustee Trustee, on behalf of the Certificateholders, shall assert claims under each applicable Credit Support Instrument, and shall take such reasonable steps as are necessary to receive payment or to permit recovery thereunder with respect to any defaulted Underlying Securities, subject in all cases to the provisions of Article VII hereof.
Appears in 18 contracts
Samples: Trust Agreement (Freedom Depository LLC), Warrant Agent Agreement (Select Asset Inc), Market Agent Agreement (Lehman Abs Corp)
Realization upon Defaulted Underlying Securities. (a) ------------------------------------------------ The Trustee Trustee, on behalf of the Certificateholders, shall assert claims under each applicable Credit Support Instrument, and shall take such reasonable steps as are necessary to receive payment or to permit recovery thereunder with respect to any defaulted Underlying Securities, subject in all cases to the provisions of Article VII hereof.
Appears in 5 contracts
Samples: Trust Agreement (Db Depositor Inc), Elmwood Funding LTD, Elmwood Funding LTD
