Action by the Holders 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 unanimous approval of the Holders and the delivery to the Owner Trustee by each such Holder of a certificate certifying that such 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 Holders 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.
Appears in 3 contracts
Samples: Trust Agreement (Thornburg Mortgage Securities Trust 2007-1), Trust Agreement (Thornburg Mortgage Securities Corp), Trust Agreement (Thornburg Mortgage Securities Trust 2007-2)
Action by the Holders 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 unanimous prior approval of the Holders and the delivery to the Owner Trustee by each such Holder the Holders of a certificate certifying that such Holder the Holders reasonably believes believe 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 Holders 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.
Appears in 2 contracts
Samples: Trust Agreement (Greenpoint Mortgage Funding Trust 2005-He4), Sale and Servicing Agreement (Greenpoint Mortgage Funding Trust 2005-He1)
Action by the Holders with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence or consent to a bankruptcy proceeding relating to the Trust without the unanimous approval of the Holders and the delivery to the Owner Trustee by each such Holder of a certificate certifying that such 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 Holders shall not have the power to institute, and shall not institute, any bankruptcy proceeding with respect to the Trust or direct the Owner Trustee to take such action.
Appears in 1 contract
Samples: Trust Agreement (PHH Mortgage Trust, Series 2008-Cim1)
