Common use of Action by Certificateholders Regarding Bankruptcy Clause in Contracts

Action by Certificateholders Regarding Bankruptcy. Except upon delivery to the Owner Trustee by each Certificateholder of a certificate certifying that the Certificateholder reasonably believes that the Trust is insolvent, the Owner Trustee may not commence a voluntary proceeding in bankruptcy relating to the Trust.

Appears in 57 contracts

Sources: Trust Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-G), Trust Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-E), Trust Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-D)

Action by Certificateholders Regarding Bankruptcy. Except upon delivery to the Owner Trustee Trustees by each Certificateholder of a certificate certifying that the Certificateholder reasonably believes that the Trust is insolvent, the Owner Trustee Trustees may not commence a voluntary proceeding in bankruptcy relating to the Trust.

Appears in 1 contract

Sources: Trust Agreement (Franklin Credit Holding Corp/De/)