Common use of No Proceedings Limited Recourse Clause in Contracts

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. (a) The Borrower, ADTEach Seller, the Servicer, the Collateral Agent, the Administrative Agent, each LenderPurchaser, and each Group Purchaser Agent, each hereby agrees that it will not institute against any Conduit LenderPurchaser, or join any other Person in instituting against any Conduit LenderPurchaser, 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 Purchaser 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. (a) The BorrowerSeller, ADT, the Servicer, the Collateral Agent, the Administrative Agent, each LenderPurchaser, and each Group Purchaser Agent, each hereby agrees that it will not institute against any Conduit LenderPurchaser, or join any other Person in instituting against any Conduit LenderPurchaser, 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 Purchaser 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.