Common use of Effect of Bankruptcy Clause in Contracts

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 6 contracts

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc), Loan and Security Agreement (Leslies Poolmart Inc), Loan and Security Agreement (Childrens Place Retail Stores Inc)

AutoNDA by SimpleDocs

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the U.S. Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders unless otherwise agreed by all Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 3 contracts

Samples: Loan and Security Agreement (Aureal Semiconductor Inc), Loan and Security Agreement (Ram Energy Inc/Ok), Loan and Security Agreement (Southwest Royalties Holdings Inc)

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided PROVIDED that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 2 contracts

Samples: Loan and Security Agreement (Natural Wonders Inc), Loan and Security Agreement (Gantos Inc)

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders unless otherwise agreed by all Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 2 contracts

Samples: Loan and Security Agreement (Sholodge Inc), Loan and Security Agreement (Phonetel Technologies Inc)

Effect of Bankruptcy. If a case is commenced by or against any the Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without unless otherwise agreed by all the approval of Required Lenders Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such the Borrower as debtor or debtor-in-possession, or to any trustee for such the Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 2 contracts

Samples: Credit and Security Agreement (Sm&a Corp), Credit and Security Agreement (Sm&a Corp)

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Loan and Security Agreement (Todays Man Inc)

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the U.S. Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of unless otherwise agreed by Required Lenders the Lender Group in writing, Lenders shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and interest Lender Group ExpensesExpenses and fees).

Appears in 1 contract

Samples: Loan and Security Agreement (Employee Solutions Inc)

Effect of Bankruptcy. If a case is commenced by or against any the Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders unless otherwise agreed by all Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such the Borrower as debtor or debtor-in-possession, or to any trustee for such the Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Loan and Security Agreement (Corrections Corp of America/Md)

Effect of Bankruptcy. If a case case, other than the Bankruptcy Case, is commenced by or against any Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Loan and Security Agreement (Samuels Jewelers Inc)

Effect of Bankruptcy. If a case is commenced by or against any -------------------- Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Loan and Security Agreement (Leslies Poolmart Inc)

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Loan and Security Agreement (Samuels Jewelers Inc)

AutoNDA by SimpleDocs

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the U.S. Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders unless otherwise agreed by all Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided PROVIDED that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Loan and Security Agreement (Telxon Corp)

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders Super-Majority Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Loan and Security Agreement (RDM Sports Group Inc)

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Loan and Security Agreement (Thomaston Mills Inc)

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders unless otherwise agreed by all Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Loan and Security Agreement (System Software Associates Inc)

Effect of Bankruptcy. If a case is commenced by or -------------------- against any Borrower under the U.S. Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders unless otherwise agreed by all Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Loan and Security Agreement (Convergent Communications Inc /Co)

Effect of Bankruptcy. If a case is commenced by or against any Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without the approval of Required Lenders the Lender Group shall not make issue additional loans or provide additional financial accommodations under the Loan Documents Letters of Credit to such Borrower as debtor or debtor-in-possession, or to any trustee for such Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Letter of Credit Agreement (Childrens Place Retail Stores Inc)

Effect of Bankruptcy. If a case is commenced by or against any the -------------------- Borrower under the Bankruptcy Code, or other statute providing for debtor relief, then, without unless otherwise agreed by all the approval of Required Lenders Lenders, the Lender Group shall not make additional loans or provide additional financial accommodations under the Loan Documents to such the Borrower as debtor or debtor-in-possession, or to any trustee for such the Borrower, nor consent to the use of cash collateral (provided that the applicable Loan Account shall continue to be charged, to the fullest extent permitted by law, for accruing interest, fees, and Lender Group Expenses).

Appears in 1 contract

Samples: Credit and Security Agreement (Emergent Information Technologies Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.