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

Action by Certificateholders with Respect to Bankruptcy. Notwithstanding any prior termination of this Agreement, the Owner Trustee shall not have the power to commence a voluntary case under Title 11 of the United States Code or any successor provision relating to the Trust without the prior approval of the Majority Certificateholders and the delivery to the Owner Trustee by such Majority Certificateholders of a certificate certifying that such Majority Certificateholders reasonably believe that the Trust is insolvent; provided, however, that under no circumstances shall the Owner Trustee commence or join in commencing any such case prior to the date that is one year and one day after the termination of the Trust.

Action by Certificateholders with Respect to Bankruptcy. Notwithstanding any prior termination of this Agreement, the Owner Trustee shall not have the power to commence a voluntary case under Title 11 of the United States Code or any successor provision relating to the Trust without the unanimous prior approval of all Certificateholders (including the Majority Certificateholders Depositor) and the delivery to the Owner Trustee by each such Majority Certificateholders Certificateholder of a certificate certifying that such Majority Certificateholders Certificateholder reasonably believe believes that the Trust is insolvent; provided, however, that under no circumstances shall the Owner Trustee commence or join in commencing any such case prior to the date that is one year and one day after the termination of the Trust.

Action by Certificateholders with Respect to Bankruptcy. Notwithstanding any prior termination of this Agreement, the Owner Trustee shall not have the power to commence a voluntary case under Title 11 of the United States Code or any successor provision relating to the Trust without the prior approval of the Majority Certificateholders and the delivery to the Owner Trustee by such Majority Certificateholders of a certificate certifying that such Majority Certificateholders reasonably believe that the Trust is insolvent; provided, however, that under no circumstances shall the Owner Trustee commence or join in commencing any such case prior to the date that is one year and one day after the termination of the Trust.

Action by Certificateholders with Respect to Bankruptcy. Notwithstanding any prior termination of this Agreement, the Owner Trustee shall not have the power to commence a voluntary case under Title 11 of the United States Code or any successor provision relating to the Trust without the prior approval of the Majority Certificateholders and the delivery to the Owner Trustee by each such Majority Certificateholders Certificateholder of a certificate certifying that such Majority Certificateholders Certificateholder reasonably believe believes that the Trust is insolvent; provided, however, that under no circumstances shall the Owner Trustee commence or join in commencing any such case prior to the date that is one year and one day after the termination of the Trust.

Action by Certificateholders with Respect to Bankruptcy. Notwithstanding any prior termination of this Agreement, the Owner Trustee shall not have the power to commence a voluntary case under Title 11 of the United States Code or any successor provision proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders (including the Majority Certificateholders Seller) and the delivery to the Owner Trustee by each such Majority Certificateholders Certificateholder of a certificate certifying that such Majority Certificateholders Certificateholder reasonably believe believes that the Trust is insolvent; provided, however, that under no circumstances shall the Owner Trustee commence or join in commencing any such case proceeding prior to the date that is one year and one day after the termination of the Trust.

Action by Certificateholders with Respect to Bankruptcy. Notwithstanding any prior termination of this Agreement, the CARAT Owner Trustee shall not have the power to commence a voluntary case under Title 11 of the United States Code or any successor provision relating to the Trust without the unanimous prior approval of all Certificateholders (including the Majority Certificateholders Depositor) and the delivery to the CARAT Owner Trustee by each such Majority Certificateholders Certificateholder of a certificate certifying that such Majority Certificateholders Certificateholder reasonably believe believes that the Trust is insolvent; provided, however, that under no circumstances shall the CARAT Owner Trustee commence or join in commencing any such case prior to the date that is one year and one day after the termination of the Trust.

Action by Certificateholders with Respect to Bankruptcy. Notwithstanding any prior termination of this Agreement, the The Owner Trustee shall not have the power to commence a voluntary case under Title 11 of the United States Code or any successor provision proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders (including the Majority Certificateholders Seller) and the delivery to the Owner Trustee by each such Majority Certificateholders Certificateholder of a certificate certifying that such Majority Certificateholders Certificateholder reasonably believe believes that the Trust is insolvent; providedPROVIDED, howeverHOWEVER, that under no circumstances shall the Owner Trustee commence or join in commencing any such case proceeding prior to the date that is one year and one day after the termination of the Trust.