Common use of Dissolution upon Bankruptcy of Trust Depositor Clause in Contracts

Dissolution upon Bankruptcy of Trust Depositor. In the event that an Insolvency Event shall occur with respect to the Trust Depositor, then this Agreement shall be terminated in accordance with Section 9.01 90 days after the date of such event, unless within such 90 day period, the Owner Trustee shall have received written instructions from the Required Holders not to dissolve or terminate the Trust. Promptly after the occurrence of an Insolvency Event with respect to the Trust Depositor (i) the Trust Depositor shall give the Indenture Trustee and Owner Trustee written notice thereof, and the Indenture Trustee shall give prompt written notice to the Noteholders thereof. Upon a termination pursuant to this Section, the Issuer shall request the Administrator promptly to sell the Trust Assets in a commercially reasonable manner and on commercially reasonable terms. The proceeds of such a sale shall be treated, allocated and distributed as Available Pledged Revenues in accordance with the Pooling Agreement.

Dissolution upon Bankruptcy of Trust Depositor. In the event that an Insolvency Event shall occur with respect to the Trust Depositor, then this Agreement the Trust shall be terminated dissolved in accordance with Section 9.01 90 days after the date of such event, unless within such 90 day period, the Owner Trustee shall have received written instructions from the Required Holders not to dissolve or terminate the Trust. Promptly after the occurrence of an Insolvency Event with respect to the Trust Depositor (i) the Trust Depositor shall give the Indenture Trustee and Owner Trustee written notice thereof, and the Indenture Trustee shall give prompt written notice to the Noteholders thereof. Upon a termination dissolution pursuant to this Section, the Issuer shall request the Administrator promptly to sell the Trust Assets in a commercially reasonable manner and on commercially reasonable terms. The proceeds of such a sale shall be treated, allocated and distributed as Available Pledged Revenues in accordance with the Pooling Agreement.

Dissolution upon Bankruptcy of Trust Depositor. In the event that an Insolvency Event shall occur with respect to the Trust Depositor, then this Agreement shall be terminated in accordance with Section 9.01 90 days after the date of such event, unless within such 90 day period, the Owner Trustee shall have received written instructions from the Required Holders not to dissolve or terminate the Trust. Promptly after the occurrence of an Insolvency Event with respect to the Trust Depositor (i) the Trust Depositor shall give the Indenture Trustee and Owner Trustee written notice thereof, and the Indenture Trustee shall give prompt written notice to the Noteholders thereof. Upon a termination pursuant to this Section, the Issuer Owner Trustee shall request direct the Administrator Indenture Trustee promptly to sell the Trust Assets in a commercially reasonable manner and on commercially reasonable terms. The proceeds of such a sale shall be treated, allocated and distributed as Available Pledged Revenues Collections in accordance with the Pooling Agreement.

Dissolution upon Bankruptcy of Trust Depositor. In the event that an Insolvency Event shall occur with respect to the Trust Depositor, then this Agreement the Trust shall be terminated dissolved in accordance with Section 9.01 90 days after the date of such event, unless within such 90 day period, the Owner Trustee shall have received written instructions from the Required Holders not to dissolve or terminate the Trust. Promptly after the occurrence of an Insolvency Event with respect to the Trust Depositor (i) the Trust Depositor shall give the Indenture Trustee and Owner Trustee written notice thereof, and the Indenture Trustee shall give prompt written notice to the Noteholders thereof. Upon a termination dissolution pursuant to this Section, the Issuer Administrator shall request the Administrator Indenture Trustee promptly to sell the Trust Assets in a commercially reasonable manner and on commercially reasonable terms. The proceeds of such a sale shall be treated, allocated and distributed as Available Pledged Revenues in accordance with the Pooling Agreement.

Dissolution upon Bankruptcy of Trust Depositor. In the event that an Insolvency Event shall occur with respect to the Trust Depositor, then this Agreement shall be terminated in accordance with Section 9.01 90 days after the date of such event, in accordance with Section 9.01, unless within such 90 day period, the Owner Trustee shall have received written instructions from the Required Holders not to dissolve or terminate the Trust. Promptly after the occurrence of an Insolvency Event with respect to the Trust Depositor Depositor: (i) the Trust Depositor shall give the Indenture Trustee and Owner Trustee written notice thereof, and the Indenture Trustee shall give prompt written notice to the Noteholders thereof. Upon a termination pursuant to this Section, the Issuer Owner Trustee shall request direct the Administrator Indenture Trustee promptly to sell the Trust Assets in a commercially reasonable manner and on commercially reasonable terms. The proceeds of such a sale shall be treated, allocated and distributed as Available Pledged Revenues Collections in accordance with the Pooling Agreement.

Dissolution upon Bankruptcy of Trust Depositor. In the event that an Insolvency Event shall occur with respect to the Trust Depositor, then this Agreement shall be terminated in accordance with Section 9.01 90 days after the date of such event, unless within such 90 day period, the Owner Trustee shall have received written instructions from the Required Holders not to dissolve or terminate the Trust. Promptly after the occurrence of an Insolvency Event with respect to the Trust Depositor (i) the Trust Depositor shall give the Indenture Trustee and Owner Trustee written notice thereof, and the Indenture Trustee shall give prompt written notice to the Noteholders thereof. Upon a termination pursuant to this Section, the Issuer Owner Trustee shall request the Administrator Indenture Trustee promptly to sell the Trust Assets in a commercially reasonable manner and on commercially reasonable terms. The proceeds of such a sale shall be treated, allocated and distributed as Available Pledged Revenues in accordance with the Pooling Agreement.

Dissolution upon Bankruptcy of Trust Depositor. In the event that an Insolvency Event shall occur with respect to the Trust Depositor, then this Agreement shall be terminated in accordance with Section 9.01 90 days after the date of such event, unless within such 90 day period, the Owner Trustee shall have received written instructions from the Required Holders not to dissolve or terminate the Trust. Promptly after the occurrence of an Insolvency Event with respect to the Trust Depositor (i) the Trust Depositor shall give the Indenture Trustee and Owner Trustee written notice thereof, and the Indenture Trustee shall give prompt written notice to the Noteholders thereof. Upon a termination pursuant to this Section, the Issuer Owner Trustee shall request the Administrator Indenture Trustee promptly to sell the Trust Assets in a commercially reasonable manner and on commercially reasonable terms. The proceeds of such a sale shall be treated, allocated and distributed as Available Pledged Revenues in accordance with the Pooling Agreement.. [remainder of this page intentionally left blank]