Action by the Holder 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 Ownership Certificate Holder and the delivery to the Owner Trustee by the Ownership Certificate Holder of a certificate certifying that the Ownership Certificate Holder 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 Ownership Certificate Holder 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.
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Samples: Owner Trust Agreement (FBR Securitization, Inc.), Trust Agreement (Fieldstone Mortgage Investment Trust, Series 2006-2), Trust Agreement (Fieldstone Mortgage Investment CORP)
Action by the Holder 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 Ownership Certificate Holder and the delivery to the Owner Trustee by the Ownership Certificate Holder of a certificate certifying that the Ownership Certificate Holder reasonably believes that the Trust is insolvent. This paragraph shall survive for one year and one day following termination of this Agreement. So To the fullest extent permitted by law, so long as the Indenture remains in effect, the Ownership Certificate Holder 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.
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