Debtor Relief Proceeding definition

Debtor Relief Proceeding means any suit, action, case or other proceeding commenced by, against or for any Borrower or its property seeking the dissolution, liquidation, reorganization, rearrangement or other relief of such Borrower or its debts under any applicable bankruptcy, insolvency or debtor relief law or other similar Governmental Rule now or hereafter in effect or seeking the appointment of a receiver, trustee, liquidator, custodian or other similar official for such Borrower or any substantial part of its property or any general assignment by any Borrower for the benefit of its creditors, whether or not any such suit, action, case or other proceeding is voluntary or involuntary.
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Debtor Relief Proceeding means bankruptcy, insolvency, receivership dissolution, arrangement, reorganization, administration, debt relief or similar proceeding pertaining to a Person.
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Debtor Relief Proceeding means any suit, action, case or other proceeding commenced by, against or for Debtor or its property seeking the dissolution, liquidation, reorganization or other relief of Debtor or its Debt under any state, federal or foreign bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a receiver, trustee, liquidator, custodian or other similar official for Debtor or its property or any general assignment by Debtor for the benefit of its creditors.
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Examples of Debtor Relief Proceeding in a sentence

  • In any Debtor Relief Proceeding relating to any Borrower, each Guarantor agrees that Agent and Lenders shall be entitled to receive payment of all Guaranteed Obligations (including any and all Disallowed Post-Commencement Interest and Expenses) before such Guarantor receives payment of any Subordinated Obligations.

  • Except during the continuance of a Default (including the commencement and continuation of any Debtor Relief Proceeding relating to any Borrower), each Guarantor may receive regularly scheduled payments from any Borrower on account of Subordinated Obligations.

  • After the occurrence and during the continuance of any Default (including the commencement and continuation of any Debtor Relief Proceeding relating to any Borrower), however, unless Agent otherwise agrees, no Guarantor shall demand, accept or take any action to collect any payment on account of the Subordinated Obligations.

  • Except during the continuance of a Default (including the commencement and continuation of any Debtor Relief Proceeding relating to Borrower), each Guarantor may receive regularly scheduled payments from Borrower on account of Subordinated Obligations.

  • After the occurrence and during the continuance of any Default (including the commencement and continuation of any Debtor Relief Proceeding relating to Borrower), however, unless Agent otherwise agrees, no Guarantor shall demand, accept or take any action to collect any payment on account of the Subordinated Obligations.

  • In any Debtor Relief Proceeding relating to Borrower, each Guarantor agrees that Agent and Lenders shall be entitled to receive payment of all Guaranteed Obligations (including any and all Disallowed Post-Commencement Interest and Expenses) before such Guarantor receives payment of any Subordinated Obligations.

  • After the occurrence and during the continuance of any Default (including the commencement and continuation of any Debtor Relief Proceeding relating to Borrower), however, unless Agent otherwise agrees, Guarantor shall not demand, accept or take any action to collect any payment on account of the Subordinated Obligations.

  • Except during the continuance of a Default (including the commencement and continuation of any Debtor Relief Proceeding relating to Borrower), Guarantor may receive regularly scheduled payments from Borrower on account of Subordinated Obligations.

  • In any Debtor Relief Proceeding relating to Borrower, Guarantor agrees that Agent and Lenders shall be entitled to receive payment of all Guaranteed Obligations (including any and all Disallowed Post-Commencement Interest and Expenses) before Guarantor receives payment of any Subordinated Obligations.

  • Except during the continuance of a Default (including the commencement and continuation of any Debtor Relief Proceeding relating to either Borrower), each Guarantor may receive regularly scheduled payments from Borrowers on account of Subordinated Obligations.


More Definitions of Debtor Relief Proceeding

Debtor Relief Proceeding means any suit, action, case or other proceeding commenced by, against or for Borrower or Guarantor or its property seeking the dissolution, liquidation, reorganization, rearrangement or other relief of Borrower or Guarantor or its debts under any applicable bankruptcy, insolvency or debtor relief law or other similar Governmental Rule now or hereafter in effect or seeking the appointment of a receiver, trustee, liquidator, custodian or other similar official for Borrower or Guarantor or any substantial part of its property or any general assignment by Borrower or Guarantor for the benefit of its creditors, whether or not any such suit, action, case or other proceeding is voluntary or involuntary.
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Debtor Relief Proceeding means any suit, action, case or other proceeding commenced by, against or for NSJ or NSE or its property seeking the dissolution, liquidation, reorganization, rearrangement or other relief of NSJ or NSE or its debts under any applicable bankruptcy, insolvency or debtor relief law or other similar Governmental Rule now or hereafter in effect or seeking the appointment of a receiver, trustee, liquidator, custodian or other similar official for NSJ or NSE or any substantial part of its property or any general assignment by NSJ or NSE for the benefit of its creditors, whether or not any such suit, action, case or other proceeding is voluntary or involuntary.
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Debtor Relief Proceeding means, with respect to any Person, (a) any voluntary or involuntary case, action or proceeding with respect to such Person before any court or other governmental authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, (b) any assignment for the benefit of creditors generally, composition, marshalling of assets for creditors or other similar arrangement in respect of its creditors generally or (c) such Person’s application for or consent to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property, or the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer without application or consent of such Person continuing undischarged or unstayed for 60 days, that is in the case of each of the foregoing clauses (a), (b) and (c) undertaken under United States federal, state or foreign law.
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Debtor Relief Proceeding means, with respect to any Person, (a) any voluntary or involuntary case, action or proceeding with respect to such Person before any court or other governmental authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, (b) any assignment for the benefit of creditors generally, composition, marshalling of assets for creditors or other similar arrangement in respect of its creditors generally or (c) such Person’s application for or consent to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property, or the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer without application or consent of such Person continuing undischarged or unstayed for 60 days, that is in the case of each of the foregoing c lauses (a), (b) and (c) undertaken under United States federal, state or foreign law.
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Related to Debtor Relief Proceeding

  • Bankruptcy Proceeding means any case, action or proceeding before any court or other Governmental Authority relating to any Bankruptcy Event.

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.

  • Debtor Relief Laws means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding-up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Insolvency Proceeding means any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or any other insolvency, liquidation, reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any action for the dissolution of the Mortgage Loan Borrower, any proceeding (judicial or otherwise) concerning the application of the assets of the Mortgage Loan Borrower for the benefit of its creditors, the appointment of or any proceeding seeking the appointment of a trustee, receiver or other similar custodian for all or any substantial part of the assets of the Mortgage Loan Borrower or any other action concerning the adjustment of the debts of the Mortgage Loan Borrower, the cessation of business by the Mortgage Loan Borrower, except following a sale, transfer or other disposition of all or substantially all of the assets of the Mortgage Loan Borrower in a transaction permitted under the Mortgage Loan Documents; provided, however, that following any such permitted transaction affecting the title to the Mortgaged Property, the Mortgage Loan Borrower for purposes of this Agreement shall be defined to mean the successor owner of the Mortgaged Property from time to time as may be permitted pursuant to the Mortgage Loan Documents; provided, further, however, that for the purposes of this definition, in the event that more than one entity comprises the Mortgage Loan Borrower, the term “Mortgage Loan Borrower” shall refer to any such entity.