Common use of Agreement Not to Petition Clause in Contracts

Agreement Not to Petition. Each party hereto agrees, for the benefit of the holders of the privately or publicly placed indebtedness for borrowed money for the Conduit Lenders, not, prior to the date which is one (1) year and one (1) day after the payment in full of all such indebtedness, to acquiesce, petition or otherwise, directly or indirectly, invoke, or cause any Conduit Lender to invoke, the process of any Governmental Authority for the purpose of (a) commencing or sustaining a case against any Conduit Lender under any federal or state bankruptcy, insolvency or similar law (including the Federal Bankruptcy Code), (b) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official for any Conduit Lender, or any substantial part of its property, or (c) ordering the winding up or liquidation of the affairs of any Conduit Lender.

Appears in 9 contracts

Samples: Receivables Purchase Agreement (Eagle Picher Technologies LLC), Receivables Purchase Agreement (Eagle Picher Technologies LLC), Receivables Purchase Agreement (Eagle Picher Technologies LLC)

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Agreement Not to Petition. Each party hereto agrees, for the benefit of the holders of the privately or publicly placed indebtedness for borrowed money for the each Conduit LendersPurchaser, not, prior to the date which is one (1) year and one (1) day after the payment in full of all such indebtedness, to acquiesce, petition or otherwise, directly or indirectly, encourage, assist, join, invoke, or cause any such Conduit Lender Purchaser to invoke, the process of any Governmental Authority for the purpose of (a) commencing or sustaining a case against any such Conduit Lender Purchaser under any federal or state bankruptcy, insolvency or similar law (including the Federal Bankruptcy Code), (b) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official for any such Conduit LenderPurchaser, or any substantial part of its property, or (c) ordering the winding up or liquidation of the affairs of any such Conduit LenderPurchaser.

Appears in 2 contracts

Samples: Receivables Sale Agreement (Arvinmeritor Inc), Receivables Sale Agreement (Arvinmeritor Inc)

Agreement Not to Petition. Each party hereto agrees, for the benefit of the holders of the privately or publicly placed indebtedness for borrowed money for the each Conduit LendersPurchaser, not, prior to the date which is one (1) year and one (1) day after the payment in full of all such indebtedness, to acquiesce, petition or otherwise, directly or indirectly, invoke, or cause any such Conduit Lender Purchaser to invoke, the process of any Governmental Authority for the purpose of (a) commencing or sustaining a case against any such Conduit Lender Purchaser under any federal or state bankruptcy, insolvency or similar law (including the Federal Bankruptcy Code), (b) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official for any such Conduit LenderPurchaser, or any substantial part of its property, or (c) ordering the winding up or liquidation of the affairs of any such Conduit LenderPurchaser. The provisions of this Section 9.12 shall survive termination of this Agreement.

Appears in 2 contracts

Samples: Receivables Sale Agreement (Chemtura CORP), Receivables Sale Agreement (Chemtura CORP)

Agreement Not to Petition. Each party hereto agrees, for the benefit of the holders of the privately or publicly placed indebtedness for borrowed money for the each Conduit LendersLender, not, prior to the date which is one (1) year and one (1) day after the payment in full of all such indebtedness, to acquiesce, petition or otherwise, directly or indirectly, invoke, or cause any such Conduit Lender to invoke, the process of any Governmental Authority for the purpose of (a) commencing or sustaining a case against any such Conduit Lender under any federal or state bankruptcy, insolvency or similar law (including the Federal Bankruptcy Code), (b) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official for any such Conduit Lender, or any substantial part of its property, or (c) ordering the winding up or liquidation of the affairs of any such Conduit Lender.

Appears in 1 contract

Samples: Receivables Loan Agreement (Agere Systems Inc)

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Agreement Not to Petition. Each party hereto agrees, for the benefit of the holders of the privately or publicly placed indebtedness for borrowed money for the each Conduit LendersLender, not, prior to the date which is one (1) year and one (1) day after the payment in full of all such indebtedness, to acquiesce, petition or otherwise, directly or indirectly, invoke, or cause any Conduit Lender to invoke, the process of any Governmental Authority for the purpose of (a) commencing or sustaining a case against any Conduit Lender under any federal or state bankruptcy, insolvency or similar law (including the Federal Bankruptcy Code), (b) appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official for any such Conduit Lender, or any substantial part of its property, or (c) ordering the winding up or liquidation of the affairs of any such Conduit Lender.

Appears in 1 contract

Samples: Receivables Loan Agreement (Eagle Picher Technologies LLC)

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