Covenants of Depositor. The Depositor makes the following covenants as of the date of this Agreement:
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. 8 5.01 Regarding Closing Conditions..........................................................................8 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. In the event that (a) the Certificate Balance shall be reduced by Realized Losses and (b) any litigation with claims in excess of $1,000,000 to which the Depositor is a party which shall be reasonably likely to result in a material judgment against the Depositor that the Depositor will not be able to satisfy shall be commenced by an Owner, 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 the Depositor, such judgment has been satisfied), the Depositor shall not make any distribution on or in respect of its membership interests to any of its members, or repay the principal amount of any indebtedness of the Depositor held by _____________, unless (i) after giving effect to such distribution or repayment, the 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 distribution or repayment. The Depositor will not at any time institute against the 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. 27 SECTION 11.9.
Covenants of Depositor. The Depositor covenants and agrees as follows:
Covenants of Depositor. Section 9.01
