Common use of No Petition; Release of Claims Clause in Contracts

No Petition; Release of Claims. With respect to the Trust, each party hereto (and each holder and pledgee of the Series 2013-1A SUBI, by virtue of its acceptance of such SUBI or pledge thereof) agrees that, to the fullest extent permitted by law, prior to the date which is one year and one day after payment in full of all obligations under each Financing (i) no party hereto shall authorize the Trust to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to the Trust or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to the Trust or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against the Trust, or to make a general assignment for the benefit of any party hereto or any other creditor of such the Trust, and (ii) none of the parties hereto shall commence or join with any other Person in commencing any proceeding against the Trust under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. Each of the parties hereto agrees that, prior to the date which is one year and one day after the payment in full of all obligations under each Financing, it will not institute against, or join any other Person in instituting against, the Trust an action in bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar proceeding under the laws of the United States or any State of the United States.

No Petition; Release of Claims. With respect to the Trust, each party hereto (and each holder and pledgee of the Series 20132014-1A 1 SUBI, by virtue of its acceptance of such SUBI or pledge thereof) agrees that, to the fullest extent permitted by law, prior to the date which is one year and one day after payment in full of all obligations under each Financing (i) no party hereto shall authorize the Trust to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to the Trust or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to the Trust or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against the Trust, or to make a general assignment for the benefit of any party hereto or any other creditor of such the Trust, and (ii) none of the parties hereto shall commence or join with any other Person in commencing any proceeding against the Trust under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. Each of the parties hereto agrees that, prior to the date which is one year and one day after the payment in full of all obligations under each Financing, it will not institute against, or join any other Person in instituting against, the Trust an action in bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar proceeding under the laws of the United States or any State of the United States.

No Petition; Release of Claims. With respect to the Trust, each party hereto (and each holder and pledgee of the Series 20132015-1A 1 SUBI, by virtue of its acceptance of such SUBI or pledge thereof) agrees that, to the fullest extent permitted by law, prior to the date which is one year and one day after payment in full of all obligations under each Financing (i) no party hereto shall authorize the Trust to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to the Trust or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to the Trust or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against the Trust, or to make a general assignment for the benefit of any party hereto or any other creditor of such the Trust, and (ii) none of the parties hereto shall commence or join with any other Person in commencing any proceeding against the Trust under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. Each of the parties hereto agrees that, prior to the date which is one year and one day after the payment in full of all obligations under each Financing, it will not institute against, or join any other Person in instituting against, the Trust an action in bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar proceeding under the laws of the United States or any State of the United States.

No Petition; Release of Claims. With respect to the Trust, each party hereto (and each holder and pledgee of the Series 20132014-1A SUBI, by virtue of its acceptance of such SUBI or pledge thereof) agrees that, to the fullest extent permitted by law, prior to the date which is one year and one day after payment in full of all obligations under each Financing (i) no party hereto shall authorize the Trust to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to the Trust or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to the Trust or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against the Trust, or to make a general assignment for the benefit of any party hereto or any other creditor of such the Trust, and (ii) none of the parties hereto shall commence or join with any other Person in commencing any proceeding against the Trust under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. Each of the parties hereto agrees that, prior to the date which is one year and one day after the payment in full of all obligations under each Financing, it will not institute against, or join any other Person in instituting against, the Trust an action in bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar proceeding under the laws of the United States or any State of the United States.

No Petition; Release of Claims. With respect to the Trust, each party hereto (and each holder and pledgee of the Series 2013-1A 2 SUBI, by virtue of its acceptance of such SUBI or pledge thereof) agrees that, to the fullest extent permitted by law, prior to the date which is one year and one day after payment in full of all obligations under each Financing (i) no party hereto shall authorize the Trust to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to the Trust or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to the Trust or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against the Trust, or to make a general assignment for the benefit of any party hereto or any other creditor of such the Trust, and (ii) none of the parties hereto shall commence or join with any other Person in commencing any proceeding against the Trust under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. Each of the parties hereto agrees that, prior to the date which is one year and one day after the payment in full of all obligations under each Financing, it will not institute against, or join any other Person in instituting against, the Trust an action in bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar proceeding under the laws of the United States or any State of the United States.

No Petition; Release of Claims. With respect to the Trust, each party hereto (and each holder and pledgee of the Series 2013-1A 1 SUBI, by virtue of its acceptance of such SUBI or pledge thereof) agrees that, to the fullest extent permitted by law, prior to the date which is one year and one day after payment in full of all obligations under each Financing (i) no party hereto shall authorize the Trust to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to the Trust or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to the Trust or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against the Trust, or to make a general assignment for the benefit of any party hereto or any other creditor of such the Trust, and (ii) none of the parties hereto shall commence or join with any other Person in commencing any proceeding against the Trust under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. Each of the parties hereto agrees that, prior to the date which is one year and one day after the payment in full of all obligations under each Financing, it will not institute against, or join any other Person in instituting against, the Trust an action in bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar proceeding under the laws of the United States or any State of the United States.

No Petition; Release of Claims. With respect to the Trust, each party hereto (and each holder and pledgee of the Series 2013-1A Purchased SUBI, by virtue of its acceptance of such SUBI or pledge thereof) agrees that, to the fullest extent permitted by law, prior to the date which is one year and one day after payment in full of all obligations under each Financing (i) no party hereto shall authorize the Trust to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to the Trust or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to the Trust or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against the Trust, or to make a general assignment for the benefit of any party hereto or any other creditor of such the Trust, and (ii) none of the parties hereto shall commence or join with any other Person in commencing any proceeding against the Trust under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. Each of the parties hereto agrees that, prior to the date which is one year and one day after the payment in full of all obligations under each Financing, it will not institute against, or join any other Person in instituting against, the Trust an action in bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar proceeding under the laws of the United States or any State of the United States.