Performance of Obligations; Servicing of Receivables. (a) The Trust will not take any action and will use its best efforts not to permit any action to be taken by others that would release any Person from any of such Person's material covenants or obligations under any instrument or agreement included in the Pledged Property or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any such instrument or agreement, except as ordered by any bankruptcy or other court or as expressly provided in this Indenture, the other Transaction Documents or any other instrument or agreement.
Appears in 3 contracts
Samples: First Sierra Receivables Iii Inc, First Sierra Receivables Iii Inc, First Sierra Receivables Iii Inc
Performance of Obligations; Servicing of Receivables. (a) The Trust will not take any action and will use its best efforts not to permit any action to be taken by others that would release any Person from any of such Person's material covenants or obligations under any instrument or agreement included in the Pledged Trust Property or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any such instrument or agreement, except as ordered by any bankruptcy or other court or as expressly provided in this Indenture, the other Transaction Documents or any other instrument or agreement.
Appears in 3 contracts
Samples: Indenture (Prudential Securities Secured Financing Corp), First Sierra Equipment Contract (First Sierra Receivables Iii Inc), Indenture (First Sierra Receivables Iii Inc)
Performance of Obligations; Servicing of Receivables. (a) The Trust will not take any action action, and will use its best efforts not to permit any action to be taken by others others, that would release any Person from any of such Person's material covenants or obligations under any instrument or agreement included in the Pledged Trust Property or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any such instrument or agreement, except as ordered by any bankruptcy or other court or as expressly provided in this Indenture, the other Transaction Documents or any other instrument or agreement.
Appears in 1 contract
Samples: Indenture (Prudential Securities Secured Financing Corp)
Performance of Obligations; Servicing of Receivables. (a) The Trust will not take any action and will use its best efforts not to permit any action to be taken by others that would release any Person from any of such Person's material covenants or obligations under any instrument or agreement included in the Pledged Property Collateral or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any such instrument or agreement, except as ordered by any bankruptcy or other court or as expressly provided in this Indenture, the other Transaction Documents Transfer and Servicing Agreement or any such other instrument or agreement.
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