Common use of Action with Respect to Bankruptcy Clause in Contracts

Action with Respect to Bankruptcy. The Eligible Lender Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior approval of the Excess Distribution Certificateholder and the delivery to the Eligible Lender Trustee by the Excess Distribution Certificateholder of a certificate certifying that the Excess Distribution Certificateholder reasonably believes that the Trust is insolvent.

Appears in 33 contracts

Samples: Trust Agreement (SLM Student Loan Trust 2006-6), Trust Agreement (SLM Student Loan Trust 2005-8), Trust Agreement (SLM Student Loan Trust 2006-2)

AutoNDA by SimpleDocs

Action with Respect to Bankruptcy. The Eligible Lender Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior approval of the Excess Distribution Certificateholder and the delivery to the Eligible Lender Trustee by the Excess Distribution Certificateholder of a certificate certifying that the Excess Distribution Certificateholder reasonably believes that the Trust is insolvent; provided, however, that nothing herein shall be deemed to prohibit the Eligible Lender Trustee from filing a claim in, or otherwise participating in, any bankruptcy proceeding filed against the Trust.

Appears in 28 contracts

Samples: Trust Agreement (Navient Student Loan Trust 2014-8), Trust Agreement (Navient Student Loan Trust 2014-4), Trust Agreement (Navient Student Loan Trust 2014-2)

Action with Respect to Bankruptcy. The Eligible Lender Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior approval of the Excess Distribution Certificateholder Depositor and the delivery to the Eligible Lender Trustee by the Excess Distribution Certificateholder Depositor of a certificate certifying that the Excess Distribution Certificateholder Depositor reasonably believes that the Trust is insolvent.

Appears in 14 contracts

Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding LLC)

Action with Respect to Bankruptcy. The Eligible Lender Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior approval of the holder of the Excess Distribution Certificateholder Certificate and the delivery to the Eligible Lender Trustee by the holder of the Excess Distribution Certificateholder Certificate of a certificate certifying that the holder of the Excess Distribution Certificateholder Certificate reasonably believes that the Trust is insolvent.

Appears in 7 contracts

Samples: Trust Agreement (SLM Funding LLC), Trust Agreement (SLM Funding LLC), Trust Agreement (SLM Funding LLC)

Action with Respect to Bankruptcy. The Eligible Lender --------------------------------- Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior approval of the Excess Distribution Certificateholder Depositor and the delivery to the Eligible Lender Trustee by the Excess Distribution Certificateholder Depositor of a certificate certifying that the Excess Distribution Certificateholder Depositor reasonably believes that the Trust is insolvent.

Appears in 6 contracts

Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp)

Action with Respect to Bankruptcy. The Eligible Lender Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior approval of the Excess Distribution Certificateholder Certificateholders and the delivery to the Eligible Lender Trustee by the each Excess Distribution Certificateholder of a certificate certifying that the such Excess Distribution Certificateholder reasonably believes that the Trust is insolvent.

Appears in 2 contracts

Samples: Trust Agreement (Wachovia Student Loan Trust 2005-1), Trust Agreement (Wachovia Education Loan Funding LLC)

AutoNDA by SimpleDocs

Action with Respect to Bankruptcy. The Eligible Lender Trustee --------------------------------- shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior approval of the Excess Distribution Certificateholder Depositor and the delivery to the Eligible Lender Trustee by the Excess Distribution Certificateholder Depositor of a certificate certifying that the Excess Distribution Certificateholder Depositor reasonably believes that the Trust is insolvent.

Appears in 2 contracts

Samples: Trust Agreement (SLM Funding Corp), Trust Agreement (SLM Funding Corp)

Action with Respect to Bankruptcy. The Eligible Lender ---------------------------------- Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior approval of the Excess Distribution Certificateholder Depositor and the delivery to the Eligible Lender Trustee by the Excess Distribution Certificateholder Depositor of a certificate certifying that the Excess Distribution Certificateholder Depositor reasonably believes that the Trust is insolvent.

Appears in 1 contract

Samples: Trust Agreement (SLM Funding Corp)

Action with Respect to Bankruptcy. The Eligible Lender Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior approval of the Excess Distribution Certificateholder Depositor and the delivery to the Eligible Lender Trustee by the Excess Distribution Certificateholder Depositor of a certificate certifying that the Excess Distribution Certificateholder Depositor reasonably believes that the Trust is insolvent.. SECTION 4.4.......

Appears in 1 contract

Samples: Trust Agreement (SLM Funding LLC)

Time is Money Join Law Insider Premium to draft better contracts faster.