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

Action by the Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence or consent to a bankruptcy relating to the Trust without the prior approval of the Insurer, or if the Class A Notes are no longer Outstanding, the Certificateholders and the delivery to the Owner Trustee by the Certificateholders of a certificate certifying that the Insurer, or if the Class A Notes are no longer Outstanding and no Reimbursement Amounts remain due and owing to the Insurer, the Certificateholders reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Agreement. So long as the Indenture remains in effect, the Certificateholders shall not have the power to institute, and shall not institute, any bankruptcy with respect to the Trust or direct the Owner Trustee to take such action.

Action by the Certificateholders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence or consent to a bankruptcy relating to the Trust without the prior approval of the Insurer, or if the Class A Notes are no longer Outstanding, the Certificateholders and the delivery to the Owner Trustee by the Certificateholders of a certificate certifying that the Insurer, or if the Class A Notes are no longer Outstanding and no Reimbursement Amounts remain due and owing to the Insurer, the Certificateholders reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Agreement. So long as the Indenture remains in effect, the Certificateholders shall not have the power to institute, and shall not institute, any bankruptcy with respect to the Trust or direct the Owner Trustee to take such action.