Common use of Nonpetition Covenants Clause in Contracts

Nonpetition Covenants. (a) Notwithstanding any prior termination of this Agreement, the Servicer and the Depositor shall not, prior to the date which is one year and one day after the termination of this Agreement with respect to the Issuing Entity, acquiesce, petition or otherwise invoke or cause the Issuing Entity to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuing Entity under any federal or state bankruptcy, insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuing Entity or any substantial part of their property, or ordering the winding up or liquidation of the affairs of the Issuing Entity.

Appears in 99 contracts

Samples: Sale and Servicing Agreement (World Omni Select Auto Trust 2024-A), Sale and Servicing Agreement (World Omni Select Auto Trust 2024-A), Sale and Servicing Agreement (World Omni Auto Receivables Trust 2024-B)

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Nonpetition Covenants. (a) Notwithstanding any prior termination of this Agreement, the Servicer Depositor, the Administrator, the Owner Trustee and the Depositor Indenture Trustee shall not, prior to the date which is one year and one day after the termination of this Agreement with respect to the Issuing Entity, not at any time acquiesce, petition or otherwise invoke invoke, or cooperate with or encourage others to acquiesce, petition or otherwise invoke, or cause the Issuing Entity Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuing Entity Issuer under any federal or state bankruptcy, insolvency or similar law, law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuing Entity Issuer or any substantial part of their its property, or ordering the winding up or liquidation of the affairs of the Issuing EntityIssuer.

Appears in 99 contracts

Samples: Administration Agreement (CarMax Auto Owner Trust 2024-3), Administration Agreement (Carmax Auto Funding LLC), Administration Agreement (Carmax Auto Funding LLC)

Nonpetition Covenants. (a) Notwithstanding any prior termination of this Agreement, the Servicer Servicer, the Transferor, the Owner Trustee and the Depositor Indenture Trustee (in its capacity as Indenture Trustee or Servicer) shall not, prior to the date which is one year and one day after the termination of this Agreement not at any time with respect to the Issuing EntityIssuer, acquiesce, petition or otherwise invoke or cause the Issuing Entity Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuing Entity Issuer under any federal Federal or state bankruptcy, insolvency or similar law, law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuing Entity Issuer or any substantial part of their its property, or ordering the winding up or liquidation of the affairs of the Issuing EntityIssuer.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Metlife Capital Equipment Loan Trusts)

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Nonpetition Covenants. (a) Notwithstanding any prior termination of this Agreement, the Servicer and the Depositor Seller shall not, prior to the date which that is one year and one day after the termination of this Agreement Agreement, with respect to the Issuing Entity, acquiesce, petition or otherwise invoke or cause the Issuing Entity to invoke the process of any court or government governmental authority for the purpose of commencing or sustaining a case against the Issuing Entity under any federal or state State bankruptcy, insolvency or similar law, law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuing Entity or any substantial part of their its property, or ordering the winding up or liquidation of the affairs of the Issuing Entity.Issuing

Appears in 1 contract

Samples: Sale and Servicing Agreement (CNH Equipment Trust 2006-A)

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