Common use of Bankruptcy Filings Clause in Contracts

Bankruptcy Filings. No petition in bankruptcy or insolvency has ever been filed or is pending against Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in Borrower, any SPC Party or Guarantor or are in Control of any Borrower, any SPC Party or Guarantor, and none of any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party or Guarantor or are in Control of any Borrower, any SPC Party or Guarantor, has ever made an assignment for the benefit of creditors or taken advantage of any insolvency laws. None of any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party or Guarantor or are in Control of any Borrower, any SPC Party or Guarantor, is contemplating either the filing of a petition under any federal, state, local or foreign bankruptcy or insolvency laws or the liquidation of all or a material portion of any Borrower’s, any SPC Party’s or Guarantor’s or such shareholder’s, partner’s, member’s or non-member manager’s assets or properties, and none of any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party or Guarantor or are in Control of any Borrower, any SPC Party or Guarantor, has any knowledge of any Person contemplating the filing of any such petition against any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party or Guarantor or are in Control of any Borrower, any SPC Party or Guarantor. Notwithstanding anything herein to the contrary, Borrowers do not make any representation or warranty herein with respect to any public shareholder of Guarantor owning less than twenty percent (20%) of Guarantor.

Bankruptcy Filings. No petition in bankruptcy or insolvency has ever been filed or is pending against Borrower, Sole Member, Master Tenant, Guarantor or, to Borrower’s knowledge, any SPC Partyof their respective shareholders, partners, members or non-member managers that, directly or indirectly (excluding shareholders of the Mxxxx REIT that are not Affiliates of Guarantor), own ten percent (10%) or more of the legal, beneficial or economic interests in Borrower, Sole Member, Master Tenant or Guarantor or are in control of Borrower, Sole Member, Master Tenant or Guarantor, and none of Borrower, Sole Member, Master Tenant, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectlyindirectly (excluding shareholders of the Mxxxx REIT who are not Affiliates of Guarantor), own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in Borrower, any SPC Party Sole Member, Master Tenant or Guarantor or are in Control control of any Borrower, any SPC Party or GuarantorSole Member, and none of any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party or Guarantor or are in Control of any Borrower, any SPC Party Master Tenant or Guarantor, has ever made an assignment for the benefit of creditors or taken advantage of any insolvency laws. None of any Borrower, any SPC PartySole Member, Master Tenant, Guarantor or to Borrower’s knowledge, any of their respective shareholders, partners, members or non-member managers that, directly or indirectlyindirectly (excluding shareholders of the Mxxxx REIT who are not Affiliates of Guarantor), own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor, is contemplating either the filing of a petition under any federal, state, local or foreign bankruptcy or insolvency laws or the liquidation of all or a material portion of any Borrower’s, any SPC PartySole Member’s, Master Tenant’s or Guarantor’s or such shareholder’s, partner’s, member’s or non-member manager’s assets or properties, and none of any Borrower, any SPC PartySole Member, Master Tenant, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectlyindirectly (excluding shareholders of the Mxxxx REIT who are not Affiliates of Guarantor), own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor, has any knowledge of any Person contemplating the filing of any such petition against any Borrower, any SPC PartySole Member, Master Tenant, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectlyindirectly (excluding shareholders of the Mxxxx REIT who are not Affiliates of Guarantor), own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor. Notwithstanding anything herein to the contrary, Borrowers do not make any representation or warranty herein with respect to any public shareholder of Guarantor owning less than twenty percent (20%) of Guarantor.

Bankruptcy Filings. No petition in bankruptcy or insolvency has ever been filed or is pending against any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in Borrower, any SPC Party Borrower or Guarantor or are in Control of any Borrower, any SPC Party Borrower or Guarantor, and none of any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Borrower or Guarantor or are in Control of any Borrower, any SPC Party Borrower or Guarantor, has ever made an assignment for the benefit of creditors or taken advantage of any insolvency laws. None of any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Borrower or Guarantor or are in Control of any Borrower, any SPC Party Borrower or Guarantor, is contemplating either the filing of a petition under any federal, state, local or foreign bankruptcy or insolvency laws or the liquidation of all or a material portion of any Borrower’s, any SPC Party’s or Guarantor’s or such shareholder’s, partner’s, member’s or non-member manager’s assets or properties, and none of any Borrower, Guarantor or any SPC Partyof their respective shareholders, partners, members or non-member managers that, directly or indirectly, own ten percent (10%) or more of the legal, beneficial or economic interests in any Borrower or Guarantor or are in Control of any Borrower or Guarantor, has any knowledge of any Person contemplating the filing of any such petition against any Borrower, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten EAST\87098743.3 percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Borrower or Guarantor or are in Control of any Borrower, any SPC Party Borrower or Guarantor, has any knowledge of any Person contemplating the filing of any such petition against any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party or Guarantor or are in Control of any Borrower, any SPC Party or Guarantor. Notwithstanding anything herein to the contrary, Borrowers do not make any representation or warranty herein with respect to any public shareholder of Guarantor owning less than twenty percent (20%) of Guarantor.

Bankruptcy Filings. No petition in bankruptcy or insolvency has ever been filed or is pending against Borrower, any SPC PartySole Member, Rudgate Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in Borrower, any SPC Party Sole Member or Rudgate Guarantor or are in Control control of any Borrower, any SPC Party Sole Member or Rudgate Guarantor, and none of any Borrower, any SPC PartySole Member, Rudgate Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member or Rudgate Guarantor or are in Control control of any Borrower, any SPC Party Sole Member or Rudgate Guarantor, has ever made an assignment for the benefit of creditors or taken advantage of any insolvency laws. None of any Borrower, any SPC PartySole Member, Rudgate Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member or Rudgate Guarantor or are in Control control of any Borrower, any SPC Party Sole Member or Rudgate Guarantor, is contemplating either the filing of a petition under any federal, state, local or foreign bankruptcy or insolvency laws or the liquidation of all or a material portion of any Borrower’s, any SPC PartySole Member’s or Rudgate Guarantor’s or such shareholder’s, partner’s, member’s or non-member manager’s assets or properties, and none of any Borrower, any SPC PartySole Member, Rudgate Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member or Rudgate Guarantor or are in Control control of any Borrower, any SPC Party Sole Member or Rudgate Guarantor, has any knowledge of any Person contemplating the filing of any such petition against any Borrower, any SPC PartySole Member, Rudgate Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member or Rudgate Guarantor or are in Control control of any Borrower, any SPC Party Sole Member or Guarantor. Notwithstanding anything herein to the contrary, Borrowers do not make any representation or warranty herein with respect to any public shareholder of Guarantor owning less than twenty percent (20%) of Rudgate Guarantor.

Bankruptcy Filings. No petition in bankruptcy or insolvency has ever been filed or is pending against Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in Borrower, any SPC Party Borrower or Guarantor or are in Control of any Borrower, any SPC Party Borrower or Guarantor, and none of any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Borrower or Guarantor or are in Control of any Borrower, any SPC Party Borrower or Guarantor, has ever made an assignment for the benefit of creditors or taken advantage of any insolvency laws. None of any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Borrower or Guarantor or are in Control of any Borrower, any SPC Party Borrower or Guarantor, is contemplating either the filing of a petition under any federal, state, local or foreign bankruptcy or insolvency laws or the liquidation of all or a material portion of any Borrower’s, any SPC Party’s or Guarantor’s or such shareholder’s, partner’s, member’s or non-member manager’s assets or properties, and none of any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Borrower or Guarantor or are in Control of any Borrower, any SPC Party Borrower or Guarantor, has any knowledge of any Person contemplating the filing of any such petition against any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Borrower or Guarantor or are in Control of any Borrower, any SPC Party Borrower or Guarantor. Notwithstanding anything herein to the contrary, Borrowers do Borrower does not make any representation or warranty herein with respect to any public shareholder of ARCNYC REIT (x) that is not an Affiliate of Borrower and/or Guarantor owning and (y) owns less than twenty percent (20%) of Guarantordirect and/or indirect interest in ARCNYC REIT.

Bankruptcy Filings. No petition in bankruptcy or insolvency has ever been filed or is pending against Borrower, Sole Member, Master Tenant, Guarantor or, to Borrower’s knowledge, any SPC Partyof their respective shareholders, partners, members or non-member managers that, directly or indirectly (excluding shareholders of the Xxxxx REIT that are not Affiliates of Guarantor), own ten percent (10%) or more of the legal, beneficial or economic interests in Borrower, Sole Member, Master Tenant or Guarantor or are in control of Borrower, Sole Member, Master Tenant or Guarantor, and none of Borrower, Sole Member, Master Tenant, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectlyindirectly (excluding shareholders of the Xxxxx REIT who are not Affiliates of Guarantor), own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in Borrower, any SPC Party Sole Member, Master Tenant or Guarantor or are in Control control of any Borrower, any SPC Party or GuarantorSole Member, and none of any Borrower, any SPC Party, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty percent (20%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party or Guarantor or are in Control of any Borrower, any SPC Party Master Tenant or Guarantor, has ever made an assignment for the benefit of creditors or taken advantage of any insolvency laws. None of any Borrower, any SPC PartySole Member, Master Tenant, Guarantor or to Borrower’s knowledge, any of their respective shareholders, partners, members or non-member managers that, directly or indirectlyindirectly (excluding shareholders of the Xxxxx REIT who are not Affiliates of Guarantor), own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor, is contemplating either the filing of a petition under any federal, state, local or foreign bankruptcy or insolvency laws or the liquidation of all or a material portion of any Borrower’s, any SPC PartySole Member’s, Master Tenant’s or Guarantor’s or such shareholder’s, partner’s, member’s or non-member manager’s assets or properties, and none of any Borrower, any SPC PartySole Member, Master Tenant, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectlyindirectly (excluding shareholders of the Xxxxx REIT who are not Affiliates of Guarantor), own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor, has any knowledge of any Person contemplating the filing of any such petition against any Borrower, any SPC PartySole Member, Master Tenant, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectlyindirectly (excluding shareholders of the Xxxxx REIT who are not Affiliates of Guarantor), own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Master Tenant or Guarantor. Notwithstanding anything herein to the contrary, Borrowers do not make any representation or warranty herein with respect to any public shareholder of Guarantor owning less than twenty percent (20%) of Guarantor.

Bankruptcy Filings. No petition in bankruptcy or insolvency has ever been filed or is pending against Borrower, any SPC PartySole Member, Holdings, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in Borrower, any SPC Party Sole Member, Holdings or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Holdings or Guarantor, and none of any Borrower, any SPC PartySole Member, Holdings, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member, Holdings or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Holdings or Guarantor, has ever made an assignment for the benefit of creditors or taken advantage of any insolvency laws. None of any Borrower, any SPC PartySole Member, Holdings, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member, Holdings or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Holdings or Guarantor, is contemplating either the filing of a petition under any federal, state, local or foreign bankruptcy or insolvency laws or the liquidation of all or a material portion of any Borrower’s, any SPC Party’s Sole Member’s, Holdings’ or Guarantor’s or such shareholder’s, partner’s, member’s or non-member manager’s assets or properties, and none of any Borrower, any SPC PartySole Member, Holdings, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member, Holdings or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Holdings or Guarantor, has any knowledge of any Person contemplating the filing of any such petition against any Borrower, any SPC PartySole Member, Holdings, Guarantor or any of their respective shareholders, partners, members or non-member managers that, directly or indirectly, own twenty ten percent (2010%) or more of the legal, beneficial or economic interests in any Borrower, any SPC Party Sole Member, Holdings or Guarantor or are in Control control of any Borrower, any SPC Party Sole Member, Holdings or Guarantor. Notwithstanding anything herein to the contrary, Borrowers do not make any representation or warranty herein with respect to any public shareholder of Guarantor owning less than twenty percent (20%) of Guarantor.