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 2006-10), Trust Agreement (SLM Student Loan Trust 2005-6), Trust Agreement (SLM Student Loan Trust 2006-6)
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)
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)