Bankruptcy Filing. (a) The provisions of this Agreement shall continue in full force and effect both before and after the filing of any petition by or against any Grantor under any Bankruptcy Law. If any Grantor shall become subject to a case (a “Bankruptcy Case”) under the Bankruptcy Code and shall, as debtor(s)-in-possession, move for approval of financing, which, for the avoidance of doubt, may include a roll-up of the Revolving Credit Agreement Obligations (“DIP Financing”) to be provided by one or more lenders, which, for the avoidance of doubt, may include the Revolving Credit Agreement Secured Parties (the “DIP Lenders”), under Section 364 of the Bankruptcy Code or the use of cash collateral or the sale of property that constitutes Common Collateral under Section 363 of the Bankruptcy Code, each Pari Passu Secured Party (other than any Controlling Secured Party or any Authorized Representative of any Controlling Secured Party) agrees that it will raise no objection to, nor support any Person objecting to, and shall be deemed to have consented to, any such financing or to the Liens on the Common Collateral securing the same (“DIP Financing Liens”) or to any use of cash collateral or sale that constitutes Common Collateral (including any bid or sale procedure in respect thereof), unless any Controlling Secured Party, or an Authorized Representative of any Controlling Secured Party, shall then oppose or object to such DIP Financing or such DIP Financing Liens or use of cash collateral or sale of Common Collateral (and (i) to the extent that such DIP Financing Liens are senior to the Liens on any such Common Collateral for the benefit of the Controlling Secured Parties, each Non-Controlling Secured Party will consent to the subordination of its Liens with respect to such Common Collateral on the same terms as the Liens of the Controlling Secured Parties (other than any Liens of any Pari Passu Secured Parties constituting DIP Financing Liens) are subordinated thereto, and (ii) to the extent that such DIP Financing Liens rank pari passu with the Liens on any such Common Collateral granted to secure the Pari Passu Obligations of the Controlling Secured Parties, each Non-Controlling Secured Party will confirm the priorities with respect to such Common Collateral as set forth herein), in each case so long as (A) such DIP Financing documentation or cash collateral order does not require any Grantor to propose a specific Plan of Reorganization or to liquidate or sell substantial...
Bankruptcy Filing. The Bankruptcy Case shall not have been dismissed or converted to a proceeding under chapter 7 of the Bankruptcy Code and no trustee or examiner shall have been appointed.
Bankruptcy Filing. Manager shall file a petition under any section or chapter of the United States Bankruptcy Code, as amended, or under any similar law or statute of the governmental authority, or if Manager shall be adjudged bankrupt or insolvent in proceedings filed against Manager thereunder.
Bankruptcy Filing. Seller shall be operating the Business and managing their property as debtors-in-possession pursuant to Sections 1107(a) and 1108 of the Bankruptcy Case shall not have been dismissed or converted to Chapter 7 of the Bankruptcy Code and no trustee or examiner with expanded powers shall have been appointed.
Bankruptcy Filing. None of the Borrower or the Guarantor is contemplating either the filing of a petition by it under any state of federal bankruptcy or insolvency laws or a liquidation of its assets or property, and the Borrower and the Guarantor have no knowledge of any Person contemplating the filing of any such petition against Borrower or the Guarantor.
Bankruptcy Filing. For a period of ninety-one (91) days after the Closing Date, Sellers shall not file or enter into any bankruptcy proceeding or liquidation whether compulsorily or voluntarily, convene a meeting of its creditors, or have a receiver appointed over all or part of its assets, or take or suffer any similar action in consequence of its debt.
Bankruptcy Filing. Upon the filing of a petition in any bankruptcy proceeding by or against any Partner, the remaining Partner(s) shall, at their election, have the option to purchase the interest of such Partner in the Partnership in the same manner, for the same purchase price, and upon the same terms and conditions provided for in Section 6.02 hereof. Such option must be exercised within sixty (60) days after the filing of any such petition in bankruptcy and the delivery of the consideration which becomes payable pursuant to such exercise of option shall in any event be made within one hundred twenty (120) days after the filing of such petition in bankruptcy.
Bankruptcy Filing. (i) Commencing, or causing the Company ----------------- to commence any case, proceeding or other action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (B) seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial part of its assets, or making a general assignment for the benefit of its creditors; or (ii) if there shall be commenced against the Company any case, proceeding or other action of a nature referred to in clause (i) above, taking any action in furtherance of, or indicating its consent to, approval of, or acquiescence, therein, or (iii) admitting in writing its inability to pay its debts as they become due.
Bankruptcy Filing. Owner shall file a petition under the United States bankruptcy law, as amended, or under any similar law or statute, or if Owner shall be adjudged bankrupt or insolvent in proceedings filed against the Owner thereunder; or
Bankruptcy Filing. The Parties acknowledge that the Company obtaining Bankruptcy Court approval of the assumption of this Agreement, the Access Agreement and the Purchase Orders under Section 365 of Chapter 11 of Title 11 of the United States Code, 11 U.S.C. § 101 et seq. (the “Bankruptcy Code”) is a condition precedent to the Effective Date. The Company has proposed that the assumption approval occur in connection with, and effective upon, the confirmation of its joint prepackaged plan of reorganization (the “Prepackaged Plan”). The Parties agree that the timing of seeking and obtaining the Bankruptcy Court’s approval of the assumption of this Agreement, the Access Agreement and the Purchase Orders shall be determined as follows. To the extent the Company provides evidence reasonably satisfactory to the Customer that it has complied with all requirements of 11 U.S.C. § 1126(b) and other applicable law governing the prepetition solicitation of acceptance or rejection of a plan of reorganization, including, but not limited to (i) transmitting notice of the Prepackaged Plan to all creditors and equity security holders entitled to vote on the Prepackaged Plan, (ii) providing adequate time for such creditors and equity security holders to accept or reject the Prepackaged Plan, and (iii) providing adequate information, as defined in 11 U.S.C. § 1125(a), to each creditor and equity security holder entitled to vote on the Prepackaged Plan and has obtained acceptance of the Prepackaged Plan, the Company may proceed to obtain the Bankruptcy Court’s approval of the assumption of this Agreement, the Access Agreement and the Purchase Orders to be effective upon confirmation of the Prepackaged Plan. However, if the above conditions are not satisfied or if any “impaired” party in interest files an objection to confirmation of the Prepackaged Plan, which objection is not resolved or withdrawn within five (5) business days after the filing thereof, or any creditor or equity security holder entitled to vote on the Prepackaged Plan files a motion requesting authority to change or withdraw its acceptance of the Prepackaged Plan, such that the Company would have insufficient votes to confirm the Prepackaged Plan, upon the written request from the Customer, as promptly as possible, but in no event more than ten (10) days after the Customer’s written request, the Company will file with the Bankruptcy Court a motion seeking the assumption of this Agreement, the Access Agreement, and the Purchase O...
