Chapter 11 Sample Clauses
The "Chapter 11" clause refers to provisions related to bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. This clause typically outlines the rights and obligations of parties if one party files for Chapter 11 bankruptcy, such as the ability to terminate or modify agreements, or the treatment of outstanding debts and obligations during the bankruptcy process. Its core practical function is to address the risks and procedures that arise when a party seeks reorganization under bankruptcy law, ensuring that all parties understand their positions and remedies in such an event.
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Chapter 11. In the event that Tenant shall become a debtor in a case filed under Chapter 11 of the Bankruptcy Code, or in a case filed under Chapter 7 of the Bankruptcy Code which is converted to Chapter 11, Tenant's trustee or Tenant, as debtorin-possession, must elect to assume this Lease within sixty (60) days from the date of the filing of the petition under Chapter 11 or conversion thereto, or Tenant's trustee or the debtor-in-possession shall be deemed to have rejected this Lease. Immediately thereupon Landlord shall be entitled to possession of the Premises without further obligation to Tenant or Tenant's trustee and this Lease, upon the election of Landlord, shall terminate, but Landlord's right to be compensated for damages (including, without limitation, damages pursuant to this Article 16) in any such proceeding shall survive.
16.8.2.1 Tenant's trustee or the debtor-in-possession has cured all defaults under this Lease, or has provided Landlord with Assurance (as defined below) that it will cure all defaults susceptible of being cured by the payment of money within ten (10) days from the date of such assumption, and that it will cure all other defaults under this Lease which are susceptible of being cured by the performance of any act promptly after the date of such assumption.
16.8.2.2 Tenant's trustee or the debtor-in-possession has compensated, or has provided Landlord with Assurance that within ten (10) days from the date of such assumption that it will compensate Tenant for any actual pecuniary loss incurred by Tenant arising from the default of Tenant, Tenant's trustee, or the debtor-in-possession indicated in any statement of actual pecuniary loss sent by Landlord to Tenant's trustee or the debtor-in-possession.
16.8.2.3 Tenant's trustee or the debtor-in-possession has provided Landlord with Assurance of future performance of each of the obligations under this Lease of Tenant, Tenant's trustee or the debtor-in-possession, and if Tenant's trustee or the debtor-in-possession has provided such Assurance, Tenant's trustee or the debtorin-possession shall also deposit with Landlord, as security for the timely payment of Rent hereunder, an amount equal to six (6) monthly installment payments of the monthly Rent, and Common Area expenses that shall become due under this Lease, provided all terms and provisions of this Lease shall have been complied with. The obligations imposed upon Tenant's trustee or the debtor-in-possession by this paragraph shall cont...
Chapter 11. Neither the Company nor any of its Consolidated Subsidiaries is under the jurisdiction of a court in a “title 11 or similar case” (as defined in Section 368(a)(3)(A) of the Code).
Chapter 11. Neither the Acquiror nor any of its Consolidated Subsidiaries is under the jurisdiction of a court in a “title 11 or similar case” (as defined in Section 368(a)(3)(A) of the Code).
Chapter 11. The Company undertakes to file by no later than 4 weeks of the date of this Agreement, a petition seeking relief under the provisions of Chapter 11 of Title 11, United States Code (the “Chapter 11”), by which the Company applies to the US bankruptcy court for the District of Delaware to authorize approval of transactions and all other actions required according to a plan to be prepared by the Company and approved by the Lender in writing prior to any filing (“Plan”). Pepper, shall serve as general bankruptcy counsel for the Chapter 11 proceedings. The approved Plan shall be deemed an integral part of this Agreement and shall be attached hereto upon its due approval by the Lender as Schedule 7, which Plan may later be amended by mutual written consent of the parties.
Chapter 11. In the event that SUBLESSEE shall become a debtor in a case filed under Chapter 11 of the Bankruptcy Code, or in a case filed under Chapter 7 of the Bankruptcy Code which is converted to Chapter 11, SUBLESSEE'S trustee or SUBLESSEE, as debtor-in-possession, must elect to assume this Lease within sixty (60) days from the date of the filing of the petition under Chapter 11 or conversion thereto, or SUBLESSEE'S trustee or the debtor-in-possession shall be deemed to have rejected this Lease. Immediately thereupon SUBLESSOR shall be entitled to possession of the Premises without further obligation to SUBLESSEE or SUBLESSEE'S trustee and this Lease, upon the election of SUBLESSOR, shall terminate, but SUBLESSOR'S right to be compensated for damages (including, without limitation, damages pursuant to this Paragraph 17) in any such proceeding shall survive whether or not the Lease is terminated. Should SUBLESSEE'S trustee, or SUBLESSEE or debtor-in- possession elect to assume this lease, it can do so only if: a.) SUBLESSEE'S trustee or the debtor-in-possession has cured all defaults under this Lease, or has provided SUBLESSOR with Assurance (as defined below) that it will cure all defaults susceptible of being cured by the payment of money on the date of such assumption, and that it will cure all other defaults under this Lease which are susceptible of being cured by the performance of any act within fifteen (15) days from the date of such assumption.
Chapter 11. Neither SUNS nor any of its Consolidated Subsidiaries is under the jurisdiction of a court in a “title 11 or similar case” (as defined in Section 368(a)(3)(A) of the Code).
Chapter 11. The Company undertakes to continue the proceedings seeking relief under the provisions of Chapter 11 of Title 11, United States Code (the "Chapter 11"), by which the Company applies to the US Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) to authorize approval of transactions and all other actions required according to the Plan as filed (“Plan”) as amended by an amended plan to be prepared by the Company and approved by the Lender in writing prior to any filing (“Amended Plan”).