Additional Rights Upon the Occurrence of Certain Events. (a) If (x) the Transferor shall consent to the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against the Transferor (an "Insolvency Event"), on the day of such Insolvency Event (the "Appointment Day") or (y) the Retained Percentage shall at any time be equal to or less than 2% (a "Trigger Event"), the following actions shall be taken and processes begun:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Fingerhut Companies Inc), Pooling and Servicing Agreement (Bally Total Fitness Holding Corp)
Additional Rights Upon the Occurrence of Certain Events. (a) If (x) the Transferor shall consent to the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against the Transferor or Metris (an "Insolvency Event"), on the day of such Insolvency Event (the "Appointment Day") or (y) the Retained Percentage shall at any time be equal to or less than 2% (a "Trigger Event"), the following actions shall be taken and processes begun:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Master Trust)
Additional Rights Upon the Occurrence of Certain Events. (a) If (x) the Transferor shall consent to the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against the Transferor (an "Insolvency EventINSOLVENCY EVENT"), on the day of such Insolvency Event (the "Appointment DayAPPOINTMENT DAY") or (y) the Retained Percentage shall at any time be equal to or less than 21% (a "Trigger EventTRIGGER EVENT"), the following actions shall be taken and processes begun:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Apparel Retailers Inc)
Additional Rights Upon the Occurrence of Certain Events. (a) If (x) the Transferor shall consent to the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against the Transferor (an "Insolvency Event"), the Transferor shall on the day of such Insolvency Event (the "Appointment Day") or (y) the Retained Percentage shall at any time be equal to or 110 116 less than 2% (a "Trigger Event"), the following actions shall be taken and processes begun:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Federated Department Stores Inc /De/)
Additional Rights Upon the Occurrence of Certain Events. (a) If (x) the Transferor shall consent to the appointment of a bankruptcy trustee or receiver or liquidator for the winding-winding- up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against the Transferor or Metris (an "Insolvency Event"), on the day of such Insolvency Event (the "Appointment Day") or (y) the Retained Percentage shall at any time be equal to or less than 2% (a "Trigger Event"), the following actions shall be taken and processes begun:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Metris Companies Inc)
Additional Rights Upon the Occurrence of Certain Events. (a) If (x) the Transferor shall consent to the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee or receiver or liquidator for the winding-up or liquidation of its affairs shall have been entered against the Transferor (an "Insolvency Event"), on the day of such Insolvency Event (the "Appointment Day") or (y) the Retained Percentage shall at any time be equal to or less lest than 2% (a "Trigger Event"), the following actions shall be taken and processes begun:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Green Tree Financial Corp)
