Common use of Bankruptcy; Post-Petition Interest; Reinstatement of Guaranty Clause in Contracts

Bankruptcy; Post-Petition Interest; Reinstatement of Guaranty. (a) So long as the Guaranteed Obligations shall not have been finally and indefeasibly paid and performed in full, the Commitment shall not have expired or been terminated, all Letters of Credit issued or deemed issued pursuant to the Credit Agreement shall not have expired or been terminated, the Guarantor shall not, without the prior written consent of the Lender, commence or join with any other Person in commencing any proceeding under any Debtor Relief Law against any Borrower. The obligations of the Guarantor under this Guaranty shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any proceeding under any Debtor Relief Laws naming any Borrower as the debtor or by any defense which any Borrower may have by reason of the order, decree or decision of any court or administrative body resulting from any such proceeding.

Appears in 2 contracts

Samples: Credit Agreement (Metal Management Inc), Credit Agreement (Sims Metal Management LTD)

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Bankruptcy; Post-Petition Interest; Reinstatement of Guaranty. (a) So long as the Guaranteed Obligations shall not have been finally and indefeasibly paid and performed in full, the Commitment Aggregate Commitments shall not have expired or been terminated, all Letters of Credit issued or deemed issued pursuant to the Credit Agreement shall not have expired or been terminated and all Swap Contracts shall not have expired or been terminated, the no Guarantor shall notshall, without the prior written consent of the LenderAgent in accordance with the terms of the Credit Agreement, commence or join with any other Person in commencing any proceeding under any Debtor Relief Law against any the Borrower. The obligations of the Guarantor Guarantors under this Guaranty shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any proceeding under any Debtor Relief Laws naming any the Borrower as the debtor or by any defense which any the Borrower may have by reason of the order, decree or decision of any court or administrative body resulting from any such proceeding.

Appears in 2 contracts

Samples: Credit Agreement (Flow International Corp), Security Agreement (Flow International Corp)

Bankruptcy; Post-Petition Interest; Reinstatement of Guaranty. (a) So long as the Guaranteed Obligations shall not have been finally and indefeasibly paid and performed in full, the Commitment Aggregate Commitments shall not have expired or been terminated, terminated and all Letters of Credit issued or deemed issued pursuant to the Credit Agreement shall not have expired or been terminated, the no Guarantor shall notshall, without the prior written consent of the LenderAdministrative Agent in accordance with the terms of the Credit Agreement, commence or join with any other Person in commencing any proceeding under any Debtor Relief Law against any the Borrower. The obligations of the Guarantor Guarantors under this Guaranty shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any proceeding under any Debtor Relief Laws naming any the Borrower as the debtor or by any defense which any the Borrower may have by reason of the order, decree or decision of any court or administrative body resulting from any such proceeding.

Appears in 1 contract

Samples: Guaranty Agreement (Shurgard Storage Centers Inc)

Bankruptcy; Post-Petition Interest; Reinstatement of Guaranty. (a) So long as the Guaranteed Obligations shall not have been finally and indefeasibly paid and performed in full, the Commitment Aggregate Commitments shall not have expired or Form of Qualified Borrower Guaranty been terminated, terminated and all Letters of Credit issued or deemed issued pursuant to the Credit Agreement shall not have expired or been terminated, the Guarantor shall not, without the prior written consent of the LenderAdministrative Agent in accordance with the terms of the Credit Agreement, commence or join with any other Person in commencing any proceeding under any Debtor Relief Law against any Borrowerthe Qualified Borrowers. The obligations of the Guarantor under this Guaranty shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any proceeding under any Debtor Relief Laws naming any Borrower the Qualified Borrowers as the debtor or by any defense which any Borrower the Qualified Borrowers may have by reason of the order, decree or decision of any court or administrative body resulting from any such proceeding.

Appears in 1 contract

Samples: Guaranty Agreement (Shurgard Storage Centers Inc)

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Bankruptcy; Post-Petition Interest; Reinstatement of Guaranty. (a) So long as the Guaranteed Obligations shall not have been finally and indefeasibly paid and performed in full, the Commitment Aggregate Commitments shall not have expired or been terminated, all Letters of Credit issued or deemed issued pursuant to the Credit Agreement shall not have expired or been terminated and all Specified Swap Contracts shall not have expired or been terminated, the no Guarantor shall notshall, without the prior written consent of the LenderAdministrative Agent in accordance with the terms of the Credit Agreement, commence or join with any other Person in commencing any proceeding under any Debtor Relief Law against any the Borrower. The obligations of the Guarantor Guarantors under this Guaranty shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any proceeding under any Debtor Relief Laws naming any the Borrower as the debtor or by any defense which any the Borrower may have by reason of the order, decree or decision of any court or administrative body resulting from any such proceeding.

Appears in 1 contract

Samples: Credit Agreement (Schnitzer Steel Industries Inc)

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