Bankruptcy Provisions definition
Examples of Bankruptcy Provisions in a sentence
There are also certain protections under the bankruptcy code available only to secured creditors; however, the Senior Lender will require that the Mezz Lender contractually waive or assign to the Senior Lender most of these rights and protections (ergo, the “silent” second lien; see Customary Bankruptcy Provisions below) in exchange for the aforementioned payment priority.
The Bankruptcy Provisions are similar to those included in the Egyptian and most other GCC countries’ laws and relate largely to the declaration of bankruptcy, its effects and its administration, and include conciliation to prevent bankruptcy.
The Bankruptcy Provisions also enable Qatari courts to defer adjudication of a company’s bankruptcy if the court decides that it is possible to improve that company’s financial position during a period (such period to be specified by the court) or if judged to be in the interest of the national economy.
The Specified Bankruptcy Provisions are true and correct as to the New Seller as of the date hereof.
However, because the Bankruptcy Provisions are relatively new and untested by Qatari courts, there is no certainty as to how Qatari courts would construe or enforce the Bankruptcy Provisions in the event of a bankruptcy affecting the Bank.
MISCELLANEOUS PROVISIONS 21 8.1 Amendment 21 8.2 Voting 23 8.3 Certain Bankruptcy Provisions.