Common use of Limitation on Institution of Bankruptcy Proceedings Clause in Contracts

Limitation on Institution of Bankruptcy Proceedings. Party A shall not institute against or cause any other person to institute against, or join any other person in instituting against Party B, the Depositor or the Trust, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, under any of the laws of the United States or any other jurisdiction, for a period of one year and one day (or, if longer, the applicable preference period) following indefeasible payment in full of the Certificates. This provision shall survive the termination of this Agreement.

Appears in 6 contracts

Samples: Master Agreement (MASTR Adjustable Rate Mortgages Trust 2007-Hf1), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa4 /DE), Master Agreement (Banc of America Funding 2007-5 Trust)

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