No Proceedings Limited Recourse. The provisions of Sections 17.11 and 17.12 of the Loan Agreement are incorporated herein mutatis mutandis.
No Proceedings Limited Recourse. Each Originator covenants and agrees, for the benefit of the parties to the Second Tier Agreement, that it shall not institute against SPV, or join any other Person in instituting against SPV, any proceeding of a type referred to in the definition of Event of Bankruptcy until one (1) year and one (1) day after the Final Payment Date. In addition, all amounts payable by the SPV to an Originator pursuant to this Agreement shall be payable solely from funds available for that purpose pursuant to Section 2.14 of the Second Tier Agreement.
No Proceedings Limited Recourse. (a) The Borrower, ADT, the Servicer, the Collateral Agent, the Administrative Agent, each Lender, and each Group Agent, each hereby agrees that it will not institute against any Conduit Lender, or join any other Person in instituting against any Conduit Lender, any proceeding of the type referred to in the definition of Event of Bankruptcy from the Closing Date until one year plus one day following the last day on which all Commercial Paper Notes and other publicly or privately placed indebtedness of such Conduit Lender shall have been indefeasibly paid in full. The foregoing shall not limit any such Person’s right to file any claim in or otherwise take any action with respect to any insolvency proceeding that was instituted by any Person other than such parties.
No Proceedings Limited Recourse. The Originator covenants and agrees, for the benefit of the parties to the Sale and Servicing Agreement and the Indenture, that it shall not institute against the Depositor or the Issuer, or join any other Person in instituting against the Depositor or the Issuer, any proceeding of a type referred to in the definition of “Event of Bankruptcy” (as defined in the Indenture) until two years and one day after the Final Payment Date. In addition, all amounts payable by the Depositor to the Originator pursuant to this Agreement shall be payable solely from funds available for that purpose pursuant to Sections 4.5(a) and (b) of the Indenture.
No Proceedings Limited Recourse. TFFC. Each of the parties hereto (other than TFFC) hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of any Notes issued by TFFC pursuant to the Base Indenture, it will not institute against, or join with any other Person in instituting against, TFFC, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any federal or state bankruptcy or similar law, all as more particularly set forth in Section 13.16 of the Base Indenture and subject to any retained rights set forth therein; provided, however, that nothing in this Section 9.10(a) shall constitute a waiver of any right to indemnification, reimbursement or other payment from TFFC pursuant to this Agreement, the Series 2000-2 Supplement or the Base Indenture. In the event that the Committed Note Purchaser (solely in its capacity as such) or the Series 2000-2 Note Purchaser (solely in its capacity as such) takes action in violation of this Section 9.10(a), TFFC agrees that it shall file an answer with the bankruptcy court or otherwise properly contest the filing of such a petition by any such Person against TFFC or the commencement of such action and raise the defense that such Person has agreed in writing not to take such action and should be estopped and precluded therefrom and such other defenses, if any, as its counsel advises that it may assert. The provisions of this Section 9.10(a) shall survive the termination of this Agreement. Nothing contained herein shall preclude participation by the Committed Note Purchaser or the Series 2000-2 Note Purchaser in assertion or defense of its claims in any such proceeding involving TFFC. No recourse shall be had for the payment of any amount owing in respect of this Agreement, including the payment of any fee hereunder or any other obligation or claim arising out of or based upon this Agreement, against any stockholder, employee, officer, director, affiliate or incorporator of TFFC; provided, however, nothing in this Section 9.10(a) shall relieve any of the foregoing Persons from any liability which any such Person may otherwise have for its gross negligence or willful misconduct. In addition, each of the parties hereto agree that all fees, expenses and other costs payable hereunder by TFFC shall be payable only to the extent set forth in Section 13.17 of the Base Indenture and that all other amounts owed to them by TFFC shall be payable solely from a...
No Proceedings Limited Recourse. (a) The Performance Undertaking Provider hereby agrees that:
No Proceedings Limited Recourse. By its acceptance of a Note, each Noteholder shall be deemed to have agreed (a) that it will not directly or indirectly institute, or cause to be instituted, or cooperate with others in instituting, against either of the Issuers any bankruptcy or insolvency proceeding so long as there shall not have elapsed one year plus one day since the maturity date of the latest maturing securities of either of the Issuers, (b) that the Notes are limited recourse obligations of the Issuers that may be satisfied only out of the Pledged Property and do not constitute a claim against the Issuers if cash flow from the Pledged Property is insufficient to repay the Notes in full, and (c) that it has no rights in or with respect to any assets of the Issuers other than the Pledged Property, including, but not limited to, any assets
No Proceedings Limited Recourse. Each Originator covenants and agrees, for the benefit of the parties to the Seller Purchase and Contribution Agreement and the Receivables Purchase Agreement, that it shall not institute against United Receivables I, or join any other Person in instituting against United Receivables I, any proceeding of a type referred to in the definition of Event of Bankruptcy until one year and one day after the Final Payout Date. In addition, all amounts payable by United Receivables I to the Originators pursuant to this Agreement shall be payable solely from funds available for that purpose pursuant to the Seller Purchase and Contribution Agreement.
No Proceedings Limited Recourse. Each of Budget Group and the Lender (solely in its capacity as such) hereby covenants and agrees that it will not institute against the Borrower, or join any other Person in instituting against the Borrower, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding so long as any Notes issued by the Borrower pursuant to the Base Indenture shall be outstanding or there shall not have elapsed one year plus one day since the last day on which any such Notes shall have been outstanding, all as more particularly set forth in Section 13.17 of the Base Indenture and subject to any retained rights set forth therein. In addition, each of the foregoing parties agree that all fees, expenses and other costs payable hereunder by the Borrower shall be payable only to the extent set forth in Section 13.18 of the Base Indenture and that all other amounts owed to them by the Borrower shall be payable solely from amounts that become available for payment pursuant to the Base Indenture and the Series 2000-1 Supplement.
No Proceedings Limited Recourse. (a) Each of the parties hereto agrees that (i) it will not institute against, or join any other Person in instituting against, any Transaction SPV any proceeding of the type referred to in the definition of Event of Bankruptcy so long as there shall not have elapsed two years plus one day since the Final Payout Date (or, in the case of an Account SPV, the Seller Payout Date with respect to all Originators related to such Account SPV); and (ii) notwithstanding anything contained herein or in any other Transaction Document to the contrary, the obligations of each Transaction SPV under the Transaction Documents are solely the corporate obligations of such Transaction SPV and shall be payable solely to the extent of funds which are received by such Transaction SPV pursuant to the Transaction Documents and available for such payment in accordance with the terms of the Transaction Documents and shall be non-recourse other than with respect to such available funds and, without limiting Clause 20, if ever and until such time as such Transaction SPV has sufficient funds to pay such obligation, shall not constitute a claim against such Transaction SPV.
