Common use of Bankruptcy Proceeding Clause in Contracts

Bankruptcy Proceeding. (a) NFC by accepting the Series 2004-B Portfolio Certificate, hereby covenants and agrees that it shall not, prior to the date which is one year and a day after which all obligations under each Permitted Financing have been paid in full, acquiesce, petition or otherwise invoke, or join any other Person in acquiescing, petitioning or otherwise invoking, against the Titling Trust or any Special Purpose Entity, any proceeding in court or with any governmental authority for the purpose of (i) commencing or sustaining a case against the Titling Trust or Special Purpose Entity under any federal or state bankruptcy, insolvency or similar law, or (ii) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of all or any substantial part of the respective property of the Titling Trust or Special Purpose Entity, or (iii) ordering the winding up or liquidation of the affairs of the Titling Trust or Special Purpose Entity. (b) Except as otherwise provided in the Titling Trust Agreement, NFC, by accepting the Series 2004-B Portfolio Certificate hereby releases all Claims to the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and to each Portfolio Interest other than the Series 2004-B Portfolio Interest whether then or thereafter created and, in the event that such release is not given effect, to fully subordinate all Claims it may be deemed to have against the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and each Portfolio Interest other than the Series 2004-B Portfolio Interest whether then or thereafter created.

Bankruptcy Proceeding. (a) NFC by accepting the Series 20042003-B A Portfolio Certificate, hereby covenants and agrees that it shall not, prior to the date which is one year and a day after which all obligations under each Permitted Financing have been paid in full, acquiesce, petition or otherwise invoke, or join any other Person in acquiescing, petitioning or otherwise invoking, against the Titling Trust or any Special Purpose Entity, any proceeding in court or with any governmental authority for the purpose of (i) commencing or sustaining a case against the Titling Trust or Special Purpose Entity under any federal or state bankruptcy, insolvency or similar law, or (ii) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of all or any substantial part of the respective property of the Titling Trust or Special Purpose Entity, or (iii) ordering the winding up or liquidation of the affairs of the Titling Trust or Special Purpose Entity. (b) Except as otherwise provided in the Titling Trust Agreement, NFC, by accepting the Series 20042003-B A Portfolio Certificate hereby releases all Claims to the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and to each Portfolio Interest other than the Series 20042003-B A Portfolio Interest whether then or thereafter created and, in the event that such release is not given effect, to fully subordinate all Claims it may be deemed to have against the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and each Portfolio Interest other than the Series 20042003-B A Portfolio Interest whether then or thereafter created.

Bankruptcy Proceeding. (a) NFC by accepting the Series 2004-B A Portfolio Certificate, hereby covenants and agrees that it shall not, prior to the date which is one year and a day after which all obligations under each Permitted Financing have been paid in full, acquiesce, petition or otherwise invoke, or join any other Person in acquiescing, petitioning or otherwise invoking, against the Titling Trust or any Special Purpose Entity, any proceeding in court or with any governmental authority for the purpose of (i) commencing or sustaining a case against the Titling Trust or Special Purpose Entity under any federal or state bankruptcy, insolvency or similar law, or (ii) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of all or any substantial part of the respective property of the Titling Trust or Special Purpose Entity, or (iii) ordering the winding up or liquidation of the affairs of the Titling Trust or Special Purpose Entity. (b) Except as otherwise provided in the Titling Trust Agreement, NFC, by accepting the Series 2004-B A Portfolio Certificate hereby releases all Claims to the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and to each Portfolio Interest other than the Series 2004-B A Portfolio Interest whether then or thereafter created and, in the event that such release is not given effect, to fully subordinate all Claims it may be deemed to have against the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and each Portfolio Interest other than the Series 2004-B A Portfolio Interest whether then or thereafter created.

Bankruptcy Proceeding. (a) NFC by accepting the Series 20042006-B ARC Portfolio Certificate, hereby covenants and agrees that it shall not, prior to the date which is one year and a day after which all obligations under each Permitted Financing have been paid in full, acquiesce, petition or otherwise invoke, or join any other Person in acquiescing, petitioning or otherwise invoking, against the Titling Trust or any Special Purpose Entity, any proceeding in court or with any governmental authority for the purpose of (i) commencing or sustaining a case against the Titling Trust or Special Purpose Entity under any federal or state bankruptcy, insolvency or similar law, or (ii) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of all or any substantial part of the respective property of the Titling Trust or Special Purpose Entity, or (iii) ordering the winding up or liquidation of the affairs of the Titling Trust or Special Purpose Entity. (b) Except as otherwise provided in the Titling Trust Agreement, NFC, by accepting the Series 20042006-B ARC Portfolio Certificate hereby releases all Claims to the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and to each Portfolio Interest other than the Series 20042006-B ARC Portfolio Interest whether then or thereafter created and, in the event that such release is not given effect, to fully subordinate all Claims it may be deemed to have against the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and each Portfolio Interest other than the Series 20042006-B ARC Portfolio Interest whether then or thereafter created.

Bankruptcy Proceeding. (a) NFC by accepting the Series 20042005-B A Portfolio Certificate, hereby covenants and agrees that it shall not, prior to the date which is one year and a day after which all obligations under each Permitted Financing have been paid in full, acquiesce, petition or otherwise invoke, or join any other Person in acquiescing, petitioning or otherwise invoking, against the Titling Trust or any Special Purpose Entity, any proceeding in court or with any governmental authority for the purpose of (i) commencing or sustaining a case against the Titling Trust or Special Purpose Entity under any federal or state bankruptcy, insolvency or similar law, or (ii) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of all or any substantial part of the respective property of the Titling Trust or Special Purpose Entity, or (iii) ordering the winding up or liquidation of the affairs of the Titling Trust or Special Purpose Entity. (b) Except as otherwise provided in the Titling Trust Agreement, NFC, by accepting the Series 20042005-B A Portfolio Certificate hereby releases all Claims to the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and to each Portfolio Interest other than the Series 20042005-B A Portfolio Interest whether then or thereafter created and, in the event that such release is not given effect, to fully subordinate all Claims it may be deemed to have against the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and each Portfolio Interest other than the Series 20042005-B A Portfolio Interest whether then or thereafter created.

Bankruptcy Proceeding. (a) NFC by accepting the Series 20042003-B Portfolio Certificate, hereby covenants and agrees that it shall not, prior to the date which is one year and a day after which all obligations under each Permitted Financing have been paid in full, acquiesce, petition or otherwise invoke, or join any other Person in acquiescing, petitioning or otherwise invoking, against the Titling Trust or any Special Purpose Entity, any proceeding in court or with any governmental authority for the purpose of (i) commencing or sustaining a case against the Titling Trust or Special Purpose Entity under any federal or state bankruptcy, insolvency or similar law, or (ii) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of all or any substantial part of the respective property of the Titling Trust or Special Purpose Entity, or (iii) ordering the winding up or liquidation of the affairs of the Titling Trust or Special Purpose Entity. (ba) Except as otherwise provided in the Titling Trust Agreement, NFC, by accepting the Series 20042003-B Portfolio Certificate hereby releases all Claims to the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and to each Portfolio Interest other than the Series 20042003-B Portfolio Interest whether then or thereafter created and, in the event that such release is not given effect, to fully subordinate all Claims it may be deemed to have against the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and each Portfolio Interest other than the Series 20042003-B Portfolio Interest whether then or thereafter created.

Bankruptcy Proceeding. (a) NFC by accepting the Series 20042002-B Portfolio Certificate, hereby covenants and agrees that it shall not, prior to the date which is one year and a day after which all obligations under each Permitted Financing have been paid in full, acquiesce, petition or otherwise invoke, or join any other Person in acquiescing, petitioning or otherwise invoking, against the Titling Trust or any Special Purpose Entity, any proceeding in court or with any governmental authority for the purpose of (i) commencing or sustaining a case against the Titling Trust or Special Purpose Entity under any federal or state bankruptcy, insolvency or similar law, or (ii) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of all or any substantial part of the respective property of the Titling Trust or Special Purpose Entity, or (iii) ordering the winding up or liquidation of the affairs of the Titling Trust or Special Purpose Entity. (b) Except as otherwise provided in the Titling Trust Agreement, NFC, by accepting the Series 20042002-B Portfolio Certificate hereby releases all Claims to the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and to each Portfolio Interest other than the Series 20042002-B Portfolio Interest whether then or thereafter created and, in the event that such release is not given effect, to fully subordinate all Claims it may be deemed to have against the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) and each Portfolio Interest other than the Series 20042002-B Portfolio Interest whether then or thereafter created.

Bankruptcy Proceeding. (a) NFC by accepting the Series 2004-B 200 --------------------- - Portfolio Certificate, hereby covenants and agrees that it shall not, prior to the date which is one year and a day after which all obligations under each Permitted Financing have been paid in full, acquiesce, petition or otherwise invoke, or join any other Person in acquiescing, petitioning or otherwise invoking, against the Titling Trust or any Special Purpose Entityspecial purpose entity, any proceeding in court or with any governmental authority for the purpose of (i) commencing or sustaining a case against the Titling Trust or Special Purpose Entity special purpose entity under any federal or state bankruptcy, insolvency or similar law, or (ii) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of all or any substantial part of the respective property of the Titling Trust or Special Purpose Entityspecial purpose entity, or (iii) ordering the winding up or liquidation of the affairs of the Titling Trust or Special Purpose Entityspecial purpose entity. (b) Except as otherwise provided in the Titling Trust Agreement, NFC, by accepting the Series 2004-B 200 Portfolio Certificate hereby releases all Claims to - the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) Trust Assets and to each Portfolio Interest other than the Series 2004-B 200 Portfolio Interest whether then or thereafter created - and, in the event that such release is not given effect, to fully subordinate all Claims it may be deemed to have against the General Titling Trust Assets (other than Claims to other Portfolio Interests obtained under other purchase agreements) Trust Assets and each Portfolio Interest other than the Series 2004-B 200 Portfolio - Interest whether then or thereafter created.