Common use of Action by Certificateholder with Respect to Bankruptcy Clause in Contracts

Action by Certificateholder with Respect to Bankruptcy. Subject to Section 4.01, the Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior consent and approval of the holder of the Trust Certificate and the Indenture Trustee, and the delivery to the Owner Trustee by the holder of the Trust Certificate of a certificate certifying that such holder of the Trust Certificate reasonably believes that the Trust is insolvent.

Action by Certificateholder with Respect to Bankruptcy. Subject to Section 4.01, the Owner Eligible Lender Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior consent and approval of the holder of the Trust Certificate and the Indenture Trustee, and the delivery to the Owner Eligible Lender Trustee by the holder of the Trust Certificate of a certificate certifying that such holder of the Trust Certificate reasonably believes that the Trust is insolvent.