Common use of Declaratory Judgment Clause in Contracts

Declaratory Judgment. Effective on and after December 20, 1996, the Trustee may, prior to taking any action pursuant to this Agreement with respect to which the Trustee determines in good faith that the legality or permissibility of such action under this Agreement or otherwise is questionable, seek a declaratory judgment from a court of competent jurisdiction as to such legality or permissibility.