Order for Relief Sample Clauses
The 'Order for Relief' clause establishes the official commencement of bankruptcy proceedings against a debtor. In practice, this clause marks the point at which a court formally recognizes that a debtor is subject to bankruptcy protection, either automatically upon a voluntary filing or after a court decision in an involuntary case. Its core function is to provide legal certainty about when bankruptcy protections and obligations begin, ensuring all parties are aware of the debtor's new legal status and the automatic stay of creditor actions.
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Order for Relief. An order for relief shall be entered in any federal bankruptcy proceeding in which the Company is the debtor; or if bankruptcy, reorganization, arrangement, insolvency, or liquidation proceedings, or other proceedings for relief under any bankruptcy or similar law or laws for the relief of debtors, are instituted by or against the Company and, if instituted against Company, are consented to or, if contested by the Company, are not dismissed by the adverse parties or by an order, decree or judgment within thirty (30) days after such institution; or
Order for Relief. An order for relief shall be entered in any federal bankruptcy proceeding in which Obligor is the debtor; or if bankruptcy, reorganization, arrangement, insolvency, or liquidation proceedings, or other proceedings for relief under any bankruptcy or similar law or laws for the relief of debtors, are instituted by or against Obligor and, if instituted against Obligor, are consented to or, if contested by Obligor, are not dismissed by the adverse parties or by an order, decree or judgment within thirty (30) days after such institution. Upon the occurrence of any Event of Default, and at any time thereafter unless and until such Event of Default is waived in writing by Holder, Holder may exercise one or several or all of the following rights and remedies:
(i) Holder may at any time thereafter, by written notice to Obligor, declare the unpaid principal balance of the Note, together with the interest accrued thereon and other amounts accrued hereunder, to be immediately due and payable; and the unpaid balance shall thereupon be due and payable, all without presentation, demand, protest or further notice of any kind, all of which are hereby waived, and notwithstanding anything to the contrary contained herein.
(ii) Holder may terminate this Agreement with immediate effectiveness and without notice or lapse of time. Notwithstanding such termination, all claims, rights and security interests of Holder and all debts, liabilities, obligations and duties of Obligor shall remain in full force and effect.
(iii) Holder may exercise and enforce any and all rights and remedies available upon default to a secured party under the Uniform Commercial Code, including without limitation all rights and remedies under the Pledge Agreement attached hereto and identified as Schedule 17.5.1(d), which has been executed by the Obligor to secure this Note. Without affecting the liability of any maker, endorser or guarantor, the holder may, without notice, renew or extend the time for payment or accept partial payments. Any maker, endorser or guarantor hereby waives presentment, demand, protest or notice of intention to accelerate. Any notice required hereunder shall be sent to the Obligor by certified mail, return receipt requested, to the following address:
Order for Relief. The entry in bankruptcy of an order for relief for or against any Mortgagor Control Person.
Order for Relief. The entry in bankruptcy of an order for relief for or against Mortgagor, any General Partner, any Guarantor or any other party directly or indirectly liable for the payment of the Note, whether as maker, endorser, guarantor, surety, general partner or otherwise.
Order for Relief. The entry in bankruptcy of an order for relief for or against Grantor and the same is not terminated within sixty (60) days.
Order for Relief. Any order for relief, judgment or decree is entered in any proceeding described in Section 8.01(i) in respect of the Company or any Material Subsidiary.
Order for Relief. The entry in bankruptcy of an order for relief for or against any Borrower Control Person (other than any member of the REIT Board). 153251886 Loan Agreement (NY Loan) - GTJ Portfolio Refinancing - AIG
Order for Relief. 30 7.1.9. Voluntary Receiver or Bankruptcy.......................30 7.1.10. Involuntary Receiver or Bankruptcy.....................30 7.1.11. Involuntary Order for Relief...........................30 7.1.12. Unsatisfied Judgment...................................30 7.2. Rights and Duties After Default.................................30 7.2.1. Acceleration...........................................30 7.2.2. Interest Rate After Acceleration.......................31
Order for Relief. The entry in bankruptcy of an order for relief for or against Mortgagor, any General Partner, any Surety or any other party directly or indirectly liable for the payment of the Note, whether as maker, endorser, guarantor, surety, general partner or otherwise;