Common use of No Bankruptcy Petition Against the Company Clause in Contracts

No Bankruptcy Petition Against the Company. Each of the Issuer, AmeriCredit, AWC and the Servicer hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of all outstanding Commercial Paper or other indebtedness of the Company (or, if the Net Investment (or any portion thereof) has been assigned to a Conduit Assignee, one year and one day after the payment in full of all Commercial Paper issued by such Conduit Assignee), it shall not institute against, or join any other Person in instituting against, the Company or any Conduit Assignee any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States.

Appears in 1 contract

Samples: Security Agreement (Americredit Corp)

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No Bankruptcy Petition Against the Company. Each of the IssuerDebtor, AmeriCredit, AWC AFC II and the Servicer Collection Agent hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of all outstanding Commercial Paper or other indebtedness of the Company (or, if the Net Investment (or any portion thereof) has been assigned to a Conduit Assignee, one year and one day after the payment in full of all Commercial Paper issued by such Conduit Assignee), it shall not institute against, or join any other Person in instituting against, the Company or any Conduit Assignee any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States.

Appears in 1 contract

Samples: Security Agreement (Americredit Corp)

No Bankruptcy Petition Against the Company. Each of the IssuerDebtor, AmeriCreditthe Seller, AWC UAC and the Servicer Collection Agent hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of all outstanding Commercial Paper or other indebtedness of the Company (or, if the Net Investment (or any portion thereof) has been assigned to a Conduit Assignee, one year and one day after the payment in full of all Commercial Paper issued by such Conduit Assignee), it shall will not institute against, or join any other Person in instituting against, the Company or any Conduit Assignee Assignee, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States.

Appears in 1 contract

Samples: Security Agreement (Union Acceptance Corp)

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No Bankruptcy Petition Against the Company. Each of the Issuer------------------------------------------ Debtor, AmeriCredit, AWC AFC III and the Servicer Collection Agent hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of all outstanding Commercial Paper or other indebtedness of the Company (or, if the Net Investment (or any portion thereof) has been assigned to a Conduit Assignee, one year and one day after the payment in full of all Commercial Paper issued by such Conduit Assignee), it shall not institute against, or join any other Person in instituting against, the Company or any Conduit Assignee any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States.

Appears in 1 contract

Samples: Security Agreement (Americredit Corp)

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