Common use of Dissolution Termination Clause in Contracts

Dissolution Termination. (a) The Issuer shall dissolve in accordance with Section 3808 of the Statutory Trust Act upon the optional purchase of the Trust Estate (other than the Reserve Account) by the Servicer pursuant to Section 5.07 or immediately prior to the date upon which is to occur the final distribution by the Paying Agent or the Owner Trustee of all monies or other property or proceeds of the Trust Estate in accordance with the terms of the Indenture, the Sale and Servicing Agreement and Article V. The bankruptcy, liquidation, dissolution, death or incapacity of any Certificateholder shall not (x) operate to terminate this Agreement or the Issuer or (y) entitle any Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Issuer or Trust Estate or (z) otherwise affect the rights, obligations and liabilities of the parties hereto.

Dissolution Termination. (a) The Issuer shall dissolve in accordance with Section 3808 of the Statutory Trust Act upon the optional purchase of the Trust Estate (other than the Reserve Account) by the Servicer pursuant to Section 5.07 5.7 or immediately prior to the date upon which is to occur the final distribution by the Paying Agent or the Owner Trustee of all monies or other property or proceeds of the Trust Estate in accordance with the terms of the Indenture, the Sale and Servicing Agreement and Article V. The bankruptcy, liquidation, dissolution, death or incapacity of any Certificateholder Certificateholders shall not (x) operate to terminate this Agreement or the Issuer or (y) entitle any Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Issuer or Trust Estate or (z) otherwise affect the rights, obligations and liabilities of the parties hereto.

Dissolution Termination. (a) The Issuer shall dissolve in accordance with Section 3808 of the Statutory Trust Act upon the optional purchase of the Trust Estate (other than the Reserve Account) by the Servicer pursuant to Section 5.07 or immediately prior to the date upon which is to occur the final distribution by the Paying Agent or the Owner Trustee of all monies or other property or proceeds of the Trust Estate in accordance with the terms of the Indenture, the Sale and Servicing Agreement and Article V. The bankruptcy, liquidation, dissolution, death or incapacity of any Certificateholder Certificateholders shall not (x) operate to terminate this Agreement or the Issuer or (y) entitle any Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Issuer or Trust Estate or (z) otherwise affect the rights, obligations and liabilities of the parties hereto.