Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note Insurer, the Noteholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 4 contracts
Samples: Trust Agreement (Pacificamerica Money Center Inc), Trust Agreement (Merrill Lynch Mortgage Investors Inc), Trust Agreement (Merrill Lynch Mortgage Investors Inc)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note Bond Insurer, the Noteholders Bondholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 3 contracts
Samples: Trust Agreement (Novastar Mortgage Funding Corp), Trust Agreement (Merrill Lynch Mortgage Investors Inc), Trust Agreement (Novastar Mortgage Funding Corp)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior written consent and approval of all Certificateholders and the prior written consent and approval of the Note Insurer, the Noteholders and the Owner Trustee Insurer and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying certification that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph The terms of this Section 5.02 shall survive for one year and one day following the termination of this Trust Agreement.
Appears in 3 contracts
Samples: Trust Agreement (Accred Home LNDRS Inc Ac Mor Ln Tr 2002-1 as Bk Nt Se 2002-1), Trust Agreement (Accredited Home Lenders Inc), Trust Agreement (Accred Home LNDRS Inc Ac Mor Ln Tr 2002-1 as Bk Nt Se 2002-1)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note Insurer, the Noteholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 3 contracts
Samples: Trust Agreement (Afc Mortgage Loan Asset Backed Notes Series 2000-1), Trust Agreement (Superior Bank FSB Afc Mort Ln Asset Backed Notes Ser 2000 2), Trust Agreement (Superior Bank FSB Afc Mortgage Ln Asset Bk Notes Ser 1999-3)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and with the consent of the Note Insurer, the Noteholders Bondholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 3 contracts
Samples: Deposit Trust Agreement (American Residential Eagle Inc), Deposit Trust Agreement (Sequoia Mortgage Funding Corp), Deposit Trust Agreement (Sequoia Mortgage Funding Corp)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note InsurerCertificateholders, the Noteholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 3 contracts
Samples: Trust Agreement (American Home Mort Securities Home Mortgage Invest Tr 2004-1), Trust Agreement (American Home Mortgage Investment Trust 2004-2), Trust Agreement (American Home Mortgage Investment Trust 2004-3)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders Certificate- holders and the consent of the Note Bond Insurer, the Noteholders Bondholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 2 contracts
Samples: Trust Agreement (Novastar Mortgage Funding Corp), Trust Agreement (Novastar Mortgage Funding Corp)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note InsurerNoteholders, the Noteholders Note Insurer and the Owner Trustee and the delivery to the Owner Trustee and the Note Insurer by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 2 contracts
Samples: Trust Agreement (Origen Manufactured Housing Contract Trust Collateralized Notes, Series 2006-A), Trust Agreement (Origen Residential Securities, Inc.)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note Insurer, the Noteholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 2 contracts
Samples: Trust Agreement (Superior Bank FSB), Trust Agreement (Home Loan Mortgage Loan Trust 2004-2)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note Insurer, the Noteholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 1 contract
Samples: Trust Agreement (Impac Secured Assets CMN Trust Series 1998-1)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note InsurerCertificateholders, the Noteholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Owner Trust Agreement.
Appears in 1 contract
Samples: Trust Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note InsurerCertificateholders, the Noteholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 1 contract
Samples: Trust Agreement (C-Bass Mortgage Loan as-BCK Nt Sal Mort Ln Tr Ser 2001-Cb4)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent Holders of the Note InsurerCertificates; provided, the Noteholders and however, that under no circumstances shall the Owner Trustee and the delivery commence or join in commencing any such proceeding prior to the Owner Trustee by each such Certificateholder of a certificate certifying date that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following after the termination of this Trust Agreementthe Trust.
Appears in 1 contract
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and with the consent of the Note Insurer, the Noteholders Bondholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 1 contract
Samples: Deposit Trust Agreement (American Residential Eagle Inc)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note Insurer, the Noteholders Bondholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder Cerfficateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 1 contract
Samples: Trust Agreement (Imh Assets Corp)
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note Insurer, the Noteholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 1 contract
Action by Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Certificateholders and the consent of the Note Insurer, the Noteholders and the Owner Trustee and the delivery to the Owner Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Trust Agreement.
Appears in 1 contract
