Part 11 — Trust Indentures Division 1 Interpretation and Application
256 Notice of default
becomes aware of the occurrence of an event of default, give to the
holders of debt obligations issued under a trust indenture notice of
every event of default arising under the trust indenture and
continuing at the time the notice is given, unless the trustee
believes on reasonable grounds that it is in the best interests of the
holders of the debt obligations to withhold the notice and so
informs the issuer and guarantor in writing.