Common use of Covenants of the Holders Clause in Contracts

Covenants of the Holders. Each Holder agrees: (a) to be bound by the terms and conditions of the Certificates and of this Agreement, including any supplements or amendments hereto and to perform the obligations of a Holder as set forth therein or herein, in all respects as if it were a signatory hereto. This undertaking is made for the benefit of the Trust, the Insurer, the Owner Trustee and all other Holders present and future; (b) to hereby appoint the Owner Trustee as such Holder's agent and attorney-in-fact to sign any federal income tax information return filed on behalf of the Trust and agree that, if requested by the Trust, it will sign such federal income tax information return in its capacity as holder of an interest in the Trust. Each Holder also hereby agrees that in its tax returns it will not take any position inconsistent with those taken in any tax returns filed by the Trust; (c) to notify the Owner Trustee of any transfer by it of a Certificate in a taxable sale or exchange, within 30 days of the date of the transfer; and (d) until the completion of the events specified in Section 9.1, not to, for any reason, institute proceedings for the Trust to be adjudicated a bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust, or file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Trust or a substantial part of its property, or cause or permit the Trust to make any assignment for the benefit of its creditors, or admit in writing its inability to pay its debts generally as they become due, or declare or effect a moratorium on its debt or take any action in furtherance of any such action.

Covenants of the Holders. Each Holder agrees:: ------------------------ (a) to be bound by the terms and conditions of the Certificates and of this Agreement, including any supplements or amendments hereto and to perform the obligations of a Holder as set forth therein or herein, in all respects as if it were a signatory hereto. This undertaking is made for the benefit of the Trust, the Insurer, the Owner Trustee and all other Holders present and future; (b) to hereby appoint the Owner Trustee as such Holder's agent and attorney-in-fact to sign any federal income tax information return filed on behalf of the Trust and agree that, if requested by the Trust, it will sign such federal income tax information return in its capacity as holder of an interest in the Trust. Each Holder also hereby agrees that in its tax returns it will not take any position inconsistent with those taken in any tax returns filed by the Trust; (c) to notify the Owner Trustee of any transfer by it of a Certificate in a taxable sale or exchange, within 30 days of the date of the transfer; and (d) until the completion of the events specified in Section 9.1, not to, for any reason, institute proceedings for the Trust to be adjudicated a bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust, or file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Trust or a substantial part of its property, or cause or permit the Trust to make any assignment for the benefit of its creditors, or admit in writing its inability to pay its debts generally as they become due, or declare or effect a moratorium on its debt or take any action in furtherance of any such action.

Covenants of the Holders. Each Holder by purchasing its Certificate agrees: (a) to be bound by the terms and conditions of the Certificates its Certificate and of this Agreement, including any supplements or amendments hereto and to perform the obligations of a Holder Certificateholder as set forth therein or herein, in all respects as if it were a signatory hereto. This undertaking is made for the benefit of the Trust, the Insurer, the Owner Trustee and all other Holders Certificateholders present and future;. (b) to treat and to take no action inconsistent with the treatment of the Investor Certificates as indebtedness for purposes of federal, state, local and foreign income or franchise taxes and any other tax imposed on or measured by income. In the event the Investor Certificates are deemed for federal income tax purposes to represent an equity interest in the Trust, each Certificateholder hereby agrees to appoint the Owner Trustee General Partner as such HolderCertificateholder's agent and attorney-in-fact to sign any federal income tax information return filed on behalf of the Trust and agree that, if requested by the Trust, it will sign such federal income tax information return in its capacity as holder of an interest in the Trust. Each Holder Certificateholder also hereby agrees that in its tax returns it will not take any position inconsistent with those taken in any tax returns filed by the Trust;. (c) if such Certificateholder is other than an individual or other entity holding its Certificate through a broker who reports securities sales on Form 1099-B, to notify the Owner Trustee of any transfer by it of a Certificate in a taxable sale or exchange, within 30 days of the date of the transfer; and. (d) until the completion of the events specified in Section 9.19.1(e), not to, for any reason, institute proceedings for the Trust or a General Partner to be adjudicated a bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust, or file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Trust or a substantial part of its property, or cause or permit the Trust to make any assignment for the benefit of its creditors, or admit in writing its inability to pay its debts generally as they become due, or declare or effect a moratorium on its debt or take any action in furtherance of any such action.

Covenants of the Holders. Each Holder agrees: (a) to be bound by the terms and conditions of the Certificates of which such Holder is the owner and of this Agreement, including any supplements or amendments hereto hereto, and to perform the obligations of a Holder as set forth therein or herein, in all respects as if it were a signatory hereto. This undertaking is made for the benefit of the Trust, the InsurerIssuer, the Owner Trustee and all other Holders present and future; (b) to hereby appoint the Owner Trustee Paragon Auto as such Holder's agent and attorney-in-fact to sign any federal income tax information return filed on behalf of the Trust Issuer and agree that, if requested by the TrustIssuer, it will sign such federal income tax information return in its capacity as holder of an interest in the TrustIssuer. Each Holder also hereby agrees that in its tax returns it will not take any position inconsistent with those taken in any tax returns filed by the TrustIssuer; (c) if such Holder is other than an individual or other entity holding its Certificate through a broker who reports securities sales on Form 1099-B, to notify the Owner Trustee of any transfer by it of a Certificate in a taxable sale or exchange, within 30 days of the date of the transfer; and (d) until the completion of the events specified in Section 9.19.1(e), not to, for any reason, institute proceedings for the Trust Issuer or Paragon Auto to be adjudicated a bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the TrustIssuer or Paragon Auto, or file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Trust Issuer or Paragon Auto or a substantial part of its property, or cause or permit the Trust Issuer or Paragon Auto to make any assignment for the benefit of its creditors, or admit in writing its inability to pay its debts generally as they become due, or declare or effect a moratorium on its debt or take any action in furtherance of any such action.