NON-PETITION AND LIMITED RECOURSE. Each of the Underwriters agrees with the Current Issuer, Funding and the Mortgages Trustee, that it shall not, until the expiry of one year and one day after the payment of all sums outstanding and owing under the Notes (in respect of the Current Issuer) and until the expiry of one year and one day after the payment of all sums outstanding and owing under any intercompany loan made to Funding by the Current Issuer or any other company (in respect of the Mortgages Trustee and Funding) take any corporate action or other steps or legal proceedings for the winding-up, dissolution, arrangement, reconstruction or re-organisation or for the appointment of a liquidator, receiver, manager, administrator, administrative receiver or similar officer of the Current Issuer, the Mortgages Trustee or Funding or any, or all of, their respective assets or revenues. To the extent permitted by law, no recourse under any obligation, covenant or agreement of any person contained in this Agreement shall be had against any shareholder, officer or director of the Current Issuer, Funding or the Mortgages Trustee, by the enforcement of any assessment or by any legal proceedings, by virtue of any statute or otherwise; it being expressly agreed and understood that this Agreement is a corporate obligation of each of the Current Issuer, Funding and the Mortgages Trustee expressed to be a party hereto and no personal liability shall attach to or be incurred by the shareholders, officers, agents or directors of such person as such, or any of them, under or by reason of any of the obligations, covenants or agreements of the Current Issuer, Funding or the Mortgages Trustee contained in this Agreement, or implied therefrom, and that any and all personal liability for breaches by such person of any such obligations, covenants or agreements, either under any applicable law or by statute or constitution, of every such shareholder, officer, agent or director is hereby expressly waived by each person expressed to be a party hereto as a condition of and consideration for the execution of this Agreement.
NON-PETITION AND LIMITED RECOURSE. The liability of Party B under this Agreement is limited in recourse to the assets of the Trust Fund, and to distributions of interest proceeds and principal proceeds thereon applied in accordance with the terms of the Trust Agreement. Upon application of and exhaustion of all of the assets of the Trust Fund (and proceeds thereof) in accordance with the Trust Agreement, Party A shall not be entitled to take any further steps against Party B to recover any sums due but still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished. Notwithstanding the foregoing or anything herein to the contrary, Party A shall not be precluded from declaring an Event of Default or from exercising any other right or remedy as set forth in this Agreement or the Trust Agreement.
NON-PETITION AND LIMITED RECOURSE. 10.1 No proceedings against the Issuer Each Transaction Party (other than the Issuer and the Security Trustee in its capacity as Security Trustee on behalf of the Transaction Creditors) agrees with and acknowledges to each of the Issuer and the Security Trustee, and the Security Trustee agrees with and acknowledges to the Issuer, that:
NON-PETITION AND LIMITED RECOURSE. 7.1 Each of the parties hereto hereby agrees that it shall not institute against any of the SPV Companies any winding-up, administration, insolvency or similar proceedings in any jurisdiction for so long as any sum is outstanding under the Notes of any Issuer or for two years plus one day since the last day on which any such sum was outstanding.
NON-PETITION AND LIMITED RECOURSE. 6.1 The parties to this Agreement hereby acknowledge and agree that they are bound by Clause 5.3 (No enforcement by Funding 1 Secured Creditors) of the Funding 1 Deed of Charge and, except as provided therein, they will not take any steps or proceedings to procure the winding up, administration or liquidation of Funding 1 and they will not take any other steps or action against Funding 1 for the purpose of recovering any of amounts owing to them pursuant to this Agreement (including by exercising any rights of set-off) or enforcing any rights arising out of this Agreement.
NON-PETITION AND LIMITED RECOURSE. The Note Trustee, any Noteholders, any Security Beneficiary in respect of Series 2023-1 (A1) and the Series 2023-1 (A1) Secured Creditors shall have recourse to the Series 2023-1 (A1) Secured Property provided that if at any time following (a) the Final Redemption Date or any earlier date upon which the Series 2023-1 (A1) Notes are due and payable, (b) the date on which the Issuer has received all sums due to it in respect of the Series 2023-1 (A1) Notes and (c) the application in full of any amounts available to pay amounts due and payable under the Series 2023-1 (A1) Notes in accordance with the relevant priority of payments, there remains any amount due and payable under the Series 2023-1 (A1) Notes then such amount shall, on the day following the application in full of the amounts referred to in (c) above, cease to be due and payable by the Issuer. In particular, no Security Beneficiary, Noteholder, nor any Secured Creditor in respect of any Series may (at any time, whether prior to or after the realisation of the Series 2023-1 (A1) Secured Property):
NON-PETITION AND LIMITED RECOURSE. The Corporate Services Provider agrees that it will not initiate or join any person in initiating an Insolvency Event in relation to the Company. In relation to the Company, any amount payable under this Agreement by the Company to any other party to this Agreement, not being an amount payable out of the Trust Property in accordance with the terms of the Mortgages Trust Deed, shall only be payable to the extent that, on that date, the Company has sufficient funds to pay such amount out of the fees paid to it under the Mortgages Trust Deed.
NON-PETITION AND LIMITED RECOURSE. 11.1 (a) Each of the parties hereto (other than the Issuer) undertakes to the Issuer that, it shall not until the expiry of one year and one day after the payment of all sums outstanding and owing under all Notes issued by the Issuer from time to time, take any corporate action or other steps or legal proceedings for the winding up, dissolution, arrangement, reconstruction or reorganisation or for the appointment of a liquidator, receiver, manager, administrator, administrative receiver or similar officer of the Issuer or any or all of its assets or revenues, petition or commence proceedings for the administration or winding-up of the Issuer (nor join any person in such proceedings or commencement of proceedings) nor commence any legal proceedings against the Issuer.
NON-PETITION AND LIMITED RECOURSE. Clauses 5.3 and 5.4 of the Issuer Deed of Charge shall also apply to this Agreement as if expressly incorporated herein.
NON-PETITION AND LIMITED RECOURSE. 9.1 In the event that the amounts received by the Agent from the CBC or the Security Trustee pursuant to or in connection with the Transaction Documents are insufficient to pay in full all amounts owed to the Agent by the CBC or the Security Trustee pursuant to or in connection with the Transaction Documents, then the Agent shall have no further claim against the CBC or the Security Trustee in respect of such unpaid amount.
