Action by the Certificateholders with Respect to Bankruptcy. The Delaware 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 delivery to the Delaware Trustee by each such Certificateholder of a certificate certifying that such Certificateholder reasonably believes that the Trust is insolvent.
Appears in 10 contracts
Samples: Trust Agreement (Collegiate Funding of Delaware LLC), Trust Agreement (Collegiate Funding of Delaware LLC), Trust Agreement (College Loan Corp Trust II)