Common use of To Receive Principal and Interest Clause in Contracts

To Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture (or, in the case of redemption, on or after the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

Appears in 3 contracts

Samples: Note Depository Agreement (Franklin Auto Trust 2003-2), Note Depository Agreement (Franklin Auto Trust 2004-2), Note Depository Agreement (Franklin Receivables Auto Trust 2003-1)

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To Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is each Noteholder has an absolute and unconditional, unconditional right to receive payment of the principal of and interest, if any, any interest on such its Note on or after the respective due dates thereof expressed in such Note or in this Indenture (or, in the case of redemption, on or after the Redemption Date) and to institute suit a Proceeding for the enforcement of any such payment, and such right shall payment in accordance with Section 5.8. Such rights may not be impaired or affected without the consent of such HolderNoteholder.

Appears in 2 contracts

Samples: Indenture (Ford Credit Auto Owner Trust 2008-C), Indenture (Ford Credit Auto Owner Trust 2008-B)

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