Common use of Eureka Clause in Contracts

Eureka. Each of the Sellers, the Buyer and the Operating Agent each hereby agree that it will not institute against Eureka or any of its Affiliates any bankruptcy, insolvency or similar proceeding so long as any commercial paper issued by Eureka or any of its Affiliates is outstanding or one year plus one day has not elapsed since the last day on which any such commercial paper was outstanding.

Appears in 1 contract

Sources: Receivables Sale Agreement (Exide Corp)

Eureka. Each of the SellersThe Seller, the Buyer and the Operating Agent each hereby agree that it they will not institute against Eureka or any of its Affiliates any bankruptcy, insolvency or similar proceeding so long as any commercial paper issued by Eureka or any of its Affiliates is outstanding or one year plus one day has not elapsed since the last day on which any such commercial paper was outstanding.

Appears in 1 contract

Sources: Receivables Sale Agreement (Exide Corp)