Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 86 contracts
Samples: Trust Agreement (Daimlerchrysler Auto Trust 2008-B), Trust Agreement (DaimlerChrysler Auto Trust 2007-A), Trust Agreement (Daimlerchrysler Auto Trust 2008-A)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust Issuer without the unanimous prior approval of all Owners (including the Depositor) and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust Issuer is insolvent.
Appears in 83 contracts
Samples: Trust Agreement (Honda Auto Receivables 2015-4 Owner Trust), Trust Agreement (Honda Auto Receivables 2015-4 Owner Trust), Trust Agreement (Honda Auto Receivables 2015-3 Owner Trust)
Action by Owners with Respect to Bankruptcy. The Neither the Owner Trustee nor the Trust Agent shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior written consent of the Insurer and the unanimous prior approval of all Owners and the delivery to the Owner Trustee or the Trust Agent, as applicable, by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 26 contracts
Samples: Trust Agreement (Onyx Acceptance Owner Trust 2005-A), Trust Agreement (Onyx Acceptance Owner Trust 2005-B), Trust Agreement (Onyx Acceptance Financial Corp)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior written consent of the Insurer and the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 21 contracts
Samples: Trust Agreement (WFS Financial 1997-B Owner Trust), Trust Agreement (WFS Financial Auto Loans Inc), Trust Agreement (WFS Financial 1997-D Owner Trust)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in a bankruptcy relating to the Trust without the unanimous prior approval of all Owners (including the Trust Depositor) and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 20 contracts
Samples: Trust Agreement (Harley-Davidson Customer Funding Corp.), Trust Agreement (Harley-Davidson Customer Funding Corp.), Trust Agreement (Harley-Davidson Customer Funding Corp.)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in a bankruptcy relating to the Trust without the unanimous prior approval written consent of all Owners (including the Trust Depositor) and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 17 contracts
Samples: Trust Agreement (Harley-Davidson Motorcycle Trust 2024-A), Trust Agreement (Harley-Davidson Motorcycle Trust 2024-A), Trust Agreement (Harley-Davidson Motorcycle Trust 2023-B)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy Bankruptcy Action relating to the Trust without unless the unanimous prior approval of all Owners conditions specified in Section 4.1(d) are satisfied and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 11 contracts
Samples: Owner Trust Agreement (Bcap LLC), Owner Trust Agreement (Etrade Mortgage Backed Securities Corp), Owner Trust Agreement (Hsi Asset Securitization Corp)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without unless (i) all of the unanimous prior approval Notes have been paid in full and (ii) each Owner approves of all Owners such commencement in writing in advance and the delivery delivers to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 7 contracts
Samples: Trust Agreement (WFS Financial 2005-1 Owner Trust), Trust Agreement (WFS Receivables Corp 4), Trust Agreement (WFS Financial 2005-3 Owner Trust)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the consent and approval of the Securities Insurer, the unanimous prior approval of all Owners and the Securities Insurer and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 7 contracts
Samples: Trust Agreement (Firstplus Investment Corp), Trust Agreement (Mego Financial Corp), Trust Agreement (Mego Financial Corp)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy Bankruptcy Action relating to the Trust without unless the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolventconditions specified in Section 4.1 (d) are satisfied.
Appears in 5 contracts
Samples: Agreement (Empire Funding Home Loan Owner Trust 1998-1), Agreement (Life Financial Home Loan Owner Trust 1997-3), Owner Trust Agreement (Painewebber Mortgage Acceptance Corporation Iv)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolventinsolvent and, to the extent permitted by applicable laws, the prior written consent of the Indenture Trustee (acting at the direction of the Holders of each outstanding Note).
Appears in 4 contracts
Samples: Trust Agreement (Chrysler Financial Auto Securitization Trust 2010-A), Trust Agreement (Chrysler Financial Auto Securitization Trust 2009-A), Trust Agreement (Chrysler Financial Auto Securitization Trust 2009-B)
Action by Owners with Respect to Bankruptcy. The Owner ------------------------------------------- Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 3 contracts
Samples: Trust Agreement (Indymac Abs Inc), Trust Agreement (Firstplus Investment Corp), Form of Trust Agreement (Asset Backed Securities Corp)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the Security Insurer (so long as no Security Insurer Default shall have occurred and be continuing) and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 3 contracts
Samples: Trust Agreement (First Merchants Acceptance Corp), Trust Agreement (First Merchants Acceptance Corp), Trust Agreement (First Merchants Acceptance Corp)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in a bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 3 contracts
Samples: Authority And (Eaglemark Inc), Trust Agreement (Eaglemark Inc), Trust Agreement (Harley Davidson Customer Funding Corp)
Action by Owners with Respect to Bankruptcy. The Subject to subsection 2.12(b), the Owner Trustee shall not have the power to commence a voluntary proceeding in a bankruptcy relating to the Trust without the unanimous prior approval of all the Owners and the delivery to the Owner Trustee by each such Owner Owners of a certificate certifying that such Owner Owners reasonably believes believe that the Trust is insolvent.
Appears in 2 contracts
Samples: Trust Agreement (American Capital Strategies LTD), Trust Agreement (American Capital Strategies LTD)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 2 contracts
Samples: Trust Agreement (Goldman Sachs Asset Backed Securities Corp), Trust Agreement (Gs Mortgage Securities Corp)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in a bankruptcy relating to the Trust without the unanimous prior approval written consent of all Owners (including the Trust Depositor) and the delivery to the Owner `Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 1 contract
Samples: Trust Agreement (Harley-Davidson Customer Funding Corp.)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the Note Insurer (so long as no Note Insurer Default shall have occurred and be continuing) or the Indenture Trustee (if a Note Insurer Default shall have occurred and be continuing) and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 1 contract
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.to
Appears in 1 contract
Samples: Trust Agreement (Daimlerchrysler Auto Trust 2001-C)
Action by Owners with Respect to Bankruptcy. The Neither the Owner Trustee nor the Co-Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior written consent of the Insurer and the unanimous prior approval of all Owners and the delivery to the Owner Trustee or the Co-Owner Trustee, as applicable, by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 1 contract
Action by Owners with Respect to Bankruptcy. The Subject to Section 2.12(b), the Owner Trustee shall not have the power to commence a voluntary proceeding in a bankruptcy relating to the Trust without the unanimous prior approval of all the Owners and the delivery to the Owner Trustee by each such Owner Owners of a certificate certifying that such Owner Owners reasonably believes believe that the Trust is insolvent.
Appears in 1 contract
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certification certifying that such Owner reasonably believes that the Trust is insolvent, subject in all instances to Section 11.09 hereof.
Appears in 1 contract
Samples: Master Trust Agreement (A I Receivables Transfer Corp)
Action by Owners with Respect to Bankruptcy. The Owner --------------------------------------------- Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 1 contract
Samples: Trust Agreement (Indymac Abs Inc)
Action by Owners with Respect to Bankruptcy. The Neither the Owner Trustee nor the Trust Agent shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the prior written consent of the Insurer and the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that or the Trust is insolvent.Trust
Appears in 1 contract
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power or authority to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate an Officer's Certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 1 contract
Action by Owners with Respect to Bankruptcy. The Owner Trustee ------------------------------------------- shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 1 contract
Samples: Trust Agreement (First Horizon Asset Securities Inc)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in a bankruptcy relating to the Trust without except with the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 1 contract
Samples: Trust Agreement (Harley-Davidson Motorcycle Trust 2016-A)
Action by Owners with Respect to Bankruptcy. The Owner owner ------------------------------------------- Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 1 contract
Samples: Trust Agreement (Provident Bank)
Action by Owners with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without the consent and approval of the [Securities Insurer], the unanimous prior approval of all Owners [and the Securities Insurer] and the delivery to the Owner Trustee by each such Owner of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.
Appears in 1 contract
