US Insolvency or Liquidation Proceeding definition

US Insolvency or Liquidation Proceeding means, with respect to any Grantor, an Insolvency or Liquidation Proceeding commenced with respect to such Grantor under the laws of a US Jurisdiction.
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US Insolvency or Liquidation Proceeding means any of the following under a Debtor Relief Law:
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Examples of US Insolvency or Liquidation Proceeding in a sentence

  • For the purpose of this Section 6.01, any Person becoming a Restricted Subsidiary after the date of this Agreement shall be deemed to have become liable with respect to all of its then outstanding Indebtedness at the time it becomes a Restricted Subsidiary, and any Person extending, renewing or refunding any Indebtedness shall be deemed to have become liable with respect to such Indebtedness at the time of such extension, renewal or refunding.

  • None of the Primary Creditors shall oppose or seek to challenge (or support directly or indirectly any person in opposing or seeking to challenge) any claim by any Senior Secured Agent or Senior Secured Creditor for allowance in any US Insolvency or Liquidation Proceeding of Senior Secured Liabilities of Post-Petition Interest under Section 506(b) of the US Bankruptcy Code or otherwise.

  • Except as otherwise expressly provided in this Agreement, nothing contained herein shall prohibit or in any way limit any Senior Secured Creditor from objecting in any US Insolvency or Liquidation Proceeding to any action taken by any Super Senior Creditor.

  • Each Primary Creditor acknowledges and agrees that the Senior Secured Liabilities are fundamentally different from the Super Senior Liabilities and must be separately classified from each other in any plan of reorganisation, plan of liquidation, agreement for composition, or other type of plan of arrangement proposed, confirmed, or adopted in a US Insolvency or Liquidation Proceeding.

  • The terms of this Agreement shall survive, and shall continue in full force and effect, in any US Insolvency or Liquidation Proceeding.

  • Notwithstanding anything to the contrary in this Agreement, in the event that a Security Grantor or member of the Group is the subject of any US Insolvency or Liquidation Proceeding, the following provisions shall apply with respect thereto (and, in the event of any conflict between the provisions of this Clause 14.8 and any other provisions of this Agreement, the provisions of this Clause 14.8 shall govern).