Common use of Bankruptcy Matters Clause in Contracts

Bankruptcy Matters. To the fullest extent permitted by law, the Certificateholder or any party to this Agreement shall not take any action to cause the Trust to dissolve in whole or in part or file a voluntary petition or otherwise initiate proceedings to have the Trust adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust as debtor under any applicable federal or state law relating to bankruptcy, insolvency or other relief for debts with respect to the Trust; or seek or consent to the appointment of any trustee, receiver, conservator, assignee, sequestrator, custodian, liquidator (or other similar official) of the Trust or of all or any substantial part of the properties and assets of the Trust, or cause the Trust to make any general assignment for the benefit or creditors of the Trust or take any action in furtherance of any of the above actions unless the Certificateholder and the Indenture Trustee shall have provided their written consent.

Appears in 5 contracts

Samples: Trust Agreement (Long Beach Acceptance Receivables Corp.), Trust Agreement (Long Beach Acceptance Corp), Trust Agreement (Triad Financial Corp)

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Bankruptcy Matters. To the fullest extent permitted by law, the no Certificateholder or nor any party to this Agreement shall not take any action to cause the Trust to dissolve in whole or in part or file a voluntary petition or otherwise initiate proceedings to have the Trust adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust as debtor under any applicable federal or state law relating to bankruptcy, insolvency or other relief for debts with respect to the Trust; or seek or consent to the appointment of any trustee, receiver, conservator, assignee, sequestrator, custodian, liquidator (or other similar official) of the Trust or of all or any substantial part of the properties and assets of the Trust, or cause the Trust to make any general assignment for the benefit or creditors of the Trust or take any action in furtherance of any of the above actions unless the each Certificateholder and the Indenture Trustee shall have provided their written consent.

Appears in 5 contracts

Samples: Trust Agreement (Long Beach Acceptance Auto Receivables Trust 2005-B), Trust Agreement (Long Beach Acceptance Corp), Trust Agreement (Long Beach Acceptance Corp. Auto Receivables Trust 2006-A)

Bankruptcy Matters. To the fullest extent permitted by law, the no Certificateholder or nor any party to this Agreement shall not take any action to cause the Trust to dissolve in whole or in part or file a voluntary petition or otherwise initiate proceedings to have the Trust adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust as debtor under any applicable federal or state law relating to bankruptcy, insolvency or other relief for debts with respect to the Trust; or seek or consent to the appointment of any trustee, receiver, conservator, assignee, sequestrator, custodian, liquidator (or other similar official) of the Trust or of all or any substantial part of the properties and assets of the Trust, or cause the Trust to make any general assignment for the benefit or creditors of the Trust or take any action in furtherance of any of the above actions unless the Certificateholder and the Indenture Trustee shall have provided their written consent.

Appears in 3 contracts

Samples: Trust Agreement (Long Beach Acceptance Auto Receivables Trust 2005-A), Trust Agreement (Long Beach Acceptance Corp), Trust Agreement (Long Beach Acceptance Corp. Auto Receivables Trust 2004-B)

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Bankruptcy Matters. To the fullest extent permitted by law, the no Certificateholder or nor any party to this Agreement shall not take any action to cause the Trust to dissolve in whole or in part or file a voluntary petition or otherwise initiate proceedings to have the Trust adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust as debtor under any applicable federal or state law relating to bankruptcy, insolvency or other relief for debts with respect to the Trust; or seek or consent to the appointment of any trustee, receiver, conservator, assignee, sequestrator, custodian, liquidator (or other similar official) of the Trust or of all or any substantial part of the properties and assets of the Trust, or cause the Trust to make any general assignment for the benefit or creditors of the Trust or take any action in furtherance of any of the above actions unless the each Certificateholder and the Indenture Trustee shall have provided their written consent. SECTION 10.15.

Appears in 1 contract

Samples: Trust Agreement

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