Common use of Indenture Trustee May File Proofs of Claim Clause in Contracts

Indenture Trustee May File Proofs of Claim. (a) If (1) Proceedings under Title 11 of the United States Code or any other applicable federal or State bankruptcy, insolvency, or other similar law are pending relating to the Issuer or any other obligor on the Notes or any person having or claiming an ownership interest in the Collateral, or (2) a receiver, assignee, or trustee in bankruptcy or reorganization, or liquidator, sequestrator, or similar official has been appointed for or taken possession of the Issuer or its property or the other obligor or person, or (3) any other comparable judicial Proceedings are pending relating to the Issuer or other obligor on the Notes, or to the creditors or property of the Issuer or the other obligor, then, irrespective of whether the principal of any Notes is then payable as expressed in them or by declaration or otherwise and irrespective of whether the Indenture Trustee has made any demand pursuant to this Section, with the consent of the Credit Enhancer the Indenture Trustee is authorized by intervention in the Proceedings or otherwise:

Appears in 2 contracts

Sources: Indenture (Cwabs Inc), Indenture (CWABS Revolving Home Equity Loan Trust, Series 2004-F)

Indenture Trustee May File Proofs of Claim. (a) If (1) Proceedings under Title 11 of the United States Code or any other applicable federal or State bankruptcy, insolvency, or other similar law are pending relating to the Issuer or any other obligor on the Notes or any person having or claiming an ownership interest in the Collateral, or (2) a receiver, assignee, or trustee in bankruptcy or reorganization, or liquidator, sequestrator, or similar official has been appointed for or taken possession of the Issuer or its property or the other obligor or person, or (3) any other comparable judicial Proceedings are pending relating to the Issuer or other obligor on the Notes, or to the creditors or property of the Issuer or the other obligor, then, irrespective of whether the principal of any Notes is then payable as expressed in them or by declaration or otherwise and irrespective of whether the Indenture Trustee has made any demand pursuant to this Section, with the consent of the Credit Enhancer the Indenture Trustee is authorized by intervention in the Proceedings or otherwise: (i) to file and prove claims for the entire amount of principal and interest and other amounts owing on the Notes and to file any other documents appropriate to have the claims of the

Appears in 1 contract

Sources: Indenture (Cwabs Inc Revolving Home Equity Loan Notes Series 2004-C)