Common use of Nonpetition Clause in Contracts

Nonpetition. The Trustee shall not petition or otherwise invoke the process of any Governmental Authority for the purpose of commencing or sustaining a case against the Issuer under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its respective property, or ordering the winding up or liquidation of the affairs of the Issuer, provided, however, that nothing herein shall prohibit the Trustee from filing proofs of claim or otherwise participating in any such proceedings instituted by any other Person.

Appears in 4 contracts

Samples: Assignment and Servicing Agreement (Ikon Receivables LLC), Insurance Agreement (Ikon Receivables LLC), Assignment and Servicing Agreement (Ikon Receivables LLC)

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