Examples of Environmental Trust Bond Collateral in a sentence
Without limiting the foregoing, the Servicer, may, at any time and from time to time without any notice to, or release or consent by, the Indenture Trustee, sell or otherwise dispose of any Environmental Trust Bond Collateral previously written-off as a defaulted or uncollectible account in accordance with the terms of the Servicing Agreement and the requirements of the proviso in the immediately preceding sentence.
Except as permitted by this Section 6.15 or elsewhere in this Indenture, the Indenture Trustee shall not hold Environmental Trust Bond Collateral through an agent or a nominee.
If the Environmental Trust 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and payable under Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of all or a portion of the Environmental Trust Bond Collateral.
If and to the extent that such proceeds of the Environmental Control Property and the other Environmental Trust Bond Collateral are insufficient to pay all amounts owing with respect to the Environmental Trust Bonds, then, except as otherwise expressly provided hereunder, the Holders shall have no Claim in respect of such insufficiency against the Issuer or the Indenture Trustee, and the Holders, by their acceptance of the Environmental Trust Bonds, waive any such Claim.
The Indenture Trustee shall hold any Environmental Trust Bond Collateral consisting of money in a deposit account and shall act as “bank” for purposes of perfecting the security interest in such deposit account.
Nothing in this Indenture or in the Environmental Trust Bonds, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, and the Holders, and any other party secured hereunder, and any other Person with an ownership interest in any part of the Environmental Trust Bond Collateral, any benefit or any legal or equitable right, remedy or claim under this Indenture.
Notwithstanding any provision of this Indenture or the Series Supplement to the contrary, Holders shall look only to the Environmental Trust Bond Collateral with respect to any amounts due to the Holders hereunder and under the Series Supplement and the Environmental Trust Bonds and, in the event such Environmental Trust Bond Collateral is insufficient to pay in full the amounts owed on the Environmental Trust Bonds, shall have no recourse against the Issuer in respect of such insufficiency.
It is the desire of the parties hereto and the Holders that there be at all times sufficient funds for the payment of principal of and premium, if any, and interest on the Environmental Trust Bonds, and the Indenture Trustee shall take such desire into account when determining whether or not to maintain possession of the Environmental Trust Bond Collateral.
The Indenture Trustee shall hold such of the Environmental Trust Bond Collateral (and any other collateral that may be granted to the Indenture Trustee) as consists of instruments, deposit accounts, negotiable documents, money, goods, letters of credit and advices of credit in the State of New York.
The Issuer shall not engage in any business other than financing, purchasing, owning, administering, managing and servicing the Environmental Control Property and the other Environmental Trust Bond Collateral and the issuance of the Environmental Trust Bonds in the manner contemplated by the Financing Order and this Indenture and the other Basic Documents and activities incidental thereto.