Covenants of Depositor. The Depositor makes the following covenants as of the date of this Agreement:
Covenants of Depositor. The Depositor covenants and agrees with the Trust as follows:
Covenants of Depositor. The Depositor agrees not to, for any reason, institute proceedings for the Trust to be adjudicated as bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust, or file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Trust or a substantial part of its property.
Covenants of Depositor. 7 5.01 Regarding Closing Conditions........................................7 5.02 Regarding the Higher Education Act..................................8 5.03 Regarding Perfection of Security Interest in Financed Student Loans..............................................8 5.04
Covenants of Depositor. The Depositor covenants to the Issuer that:
Covenants of Depositor. If: (a) the Certificate Balance shall be reduced by the Cumulative Loss Amount and (b) any litigation with claims in excess of $1,000,000 to which Depositor is a party that shall be reasonably likely to result in a material judgment against Depositor that Depositor will not be able to satisfy shall be commenced by a Certificateholder during the period beginning nine months following the commencement of such litigation and continuing until such litigation is dismissed or otherwise terminated (and, if such litigation has resulted in a final judgment against Depositor, such judgment has been satisfied), Depositor shall not pay any dividend to ILC, or make any distribution on or in respect of its capital stock to ILC, or repay the principal amount of any indebtedness of Depositor held by ILC, unless: (i) after giving effect to such payment, distribution or repayment, Depositor's liquid assets shall not be less than the amount of actual damages claimed in such litigation or (ii) the Rating Agency Condition shall have been satisfied with respect to any such payment, distribution or repayment. Depositor will not at any time institute against Trust any bankruptcy proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Trust Certificates, the Notes, the Trust Agreement or any of the Basic Documents.
Covenants of Depositor. 10 Section 2.14 Covenants of the Owner Trustee...............................10
Covenants of Depositor. 29 SECTION 11.09.
Covenants of Depositor. The Depositor covenants and agrees as follows:
Covenants of Depositor. Section 9.01
