Common use of No Petition; Limited Recourse Clause in Contracts

No Petition; Limited Recourse. Xxxxxx hereby agrees that it shall not until a period of one year and one day (or if longer, the applicable preference period) after all rated liabilities of the Trust have been indefeasibly paid in full institute against, or join any other Person in instituting against the Counterparty any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or state or other bankruptcy or similar laws. Notwithstanding the foregoing, nothing herein shall prevent Xxxxxx from participating in any such proceeding once commenced. This provision shall survive termination of this Agreement. Xxxxxx hereby acknowledges and agrees that the Counterparty’s obligations hereunder will be solely the limited recourse obligations of the Counterparty, and that Xxxxxx will not have any recourse to any of the directors, officers, employees, shareholders or affiliates of the Counterparty with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. Notwithstanding any other provisions hereof, recourse in respect of any obligations of the Counterparty to Xxxxxx hereunder or thereunder will be limited to the Collateral and on the exhaustion thereof all claims against the Counterparty arising from this Confirmation or any other transactions contemplated hereby or thereby shall be extinguished.

No Petition; Limited Recourse. Xxxxxx hereby agrees that it shall not until a period of one year and one day (or if longer, the applicable preference period) after all rated liabilities of the Trust have been indefeasibly paid in full institute against, or join any other Person person in instituting against the Counterparty any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or state or other bankruptcy or similar laws. Notwithstanding the foregoing, nothing herein shall prevent Xxxxxx from participating in any such proceeding once commenced. This provision shall survive termination of this Agreement. Xxxxxx hereby acknowledges and agrees that the Counterparty’s obligations hereunder will be solely the limited recourse obligations of the CounterpartyCounterparty payable solely in accordance with the priority of payments set out in the Pooling Agreement, and that Xxxxxx will not have any recourse to any of the directors, officers, employees, shareholders or affiliates of the Counterparty with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. Notwithstanding any other provisions hereof, recourse in respect of any obligations of the Counterparty to Xxxxxx hereunder or thereunder will be limited to the Collateral Supplemental Interest Trust and on the exhaustion thereof all claims against the Counterparty arising from this Confirmation or any other transactions contemplated hereby or thereby shall be extinguished.

No Petition; Limited Recourse. Xxxxxx Mxxxxx hereby agrees that it shall not until a period of one year and one day (or if longer, the applicable preference period) after all rated liabilities of the Trust have been indefeasibly paid in full institute against, or join any other Person person in instituting against the Counterparty any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or state or other bankruptcy or similar laws. Notwithstanding the foregoing, nothing herein shall prevent Xxxxxx Mxxxxx from participating in any such proceeding once commenced. This provision shall survive termination of this Agreement. Xxxxxx Mxxxxx hereby acknowledges and agrees that the Counterparty’s obligations hereunder will be solely the limited recourse obligations of the CounterpartyCounterparty payable solely in accordance with the priority of payments set out in the Pooling Agreement, and that Xxxxxx Mxxxxx will not have any recourse to any of the directors, officers, employees, shareholders or affiliates of the Counterparty with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. Notwithstanding any other provisions hereof, recourse in respect of any obligations of the Counterparty to Xxxxxx Mxxxxx hereunder or thereunder will be limited to the Collateral Supplemental Interest Trust and on the exhaustion thereof all claims against the Counterparty arising from this Confirmation or any other transactions contemplated hereby or thereby shall be extinguished.

No Petition; Limited Recourse. Xxxxxx hereby agrees that it shall not until a period of one year and one day (or if longer, the applicable preference period) after all rated liabilities of the Trust Counterparty have been indefeasibly paid in full institute against, or join any other Person person in instituting against the Counterparty any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or state or other bankruptcy or similar laws. Notwithstanding the foregoing, nothing herein shall prevent Xxxxxx from participating in any such proceeding once commenced. This provision shall survive termination of this Agreement. Xxxxxx hereby acknowledges and agrees that the Counterparty’s obligations hereunder will be solely the limited recourse obligations of the CounterpartyCounterparty payable solely in accordance with the priority of payments set out in the Indenture, and that Xxxxxx will not have any recourse to any of the directors, officers, employees, shareholders or affiliates of the Counterparty with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. Notwithstanding any other provisions hereof, recourse in respect of any obligations of the Counterparty to Xxxxxx hereunder or thereunder will be limited to the Collateral Counterparty and on the exhaustion thereof all claims against the Counterparty arising from this Confirmation or any other transactions contemplated hereby or thereby shall be extinguished.

No Petition; Limited Recourse. Xxxxxx Morgan hereby agrees that it shall not xxx until a period of one year and one day (or if longer, the applicable preference period) after all rated liabilities of the Trust have been indefeasibly paid in full institute against, or join any other Person in instituting against the Counterparty any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or state or other bankruptcy or similar laws. Notwithstanding the foregoing, nothing herein shall prevent Xxxxxx Morgan from participating in any xx xxx such proceeding once commenced. This provision shall survive termination of this Agreement. Xxxxxx Morgan hereby acknowledges and agrees that agrxxx xxat the Counterparty’s 's obligations hereunder will be solely the limited recourse obligations of the Counterparty, and that Xxxxxx Morgan will not have any recourse to any xx xxx of the directors, officers, employees, shareholders or affiliates of the Counterparty with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. Notwithstanding any other provisions hereof, recourse in respect of any obligations of the Counterparty to Xxxxxx Morgan hereunder or thereunder will thereuxxxx xill be limited to the Collateral and on the exhaustion thereof all claims against the Counterparty arising from this Confirmation or any other transactions contemplated hereby or thereby shall be extinguished.

No Petition; Limited Recourse. Xxxxxx hereby agrees that it shall not until a period of one year and one day (or if longer, the applicable preference period) after all rated liabilities of the Trust have been indefeasibly paid in full institute against, or join any other Person person in instituting against the Counterparty any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or state or other bankruptcy or similar laws. Notwithstanding the foregoing, nothing herein shall prevent Xxxxxx from participating in any such proceeding once commenced. This provision shall survive termination of this Agreement. Xxxxxx hereby acknowledges and agrees that the Counterparty’s obligations hereunder will be solely the limited recourse obligations of the CounterpartyCounterparty payable solely in accordance with the priority of payments set out in the Pooling Agreement, and that Xxxxxx will not have any recourse to any of the directors, officers, employees, shareholders or affiliates of the Counterparty with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. Notwithstanding any other provisions hereof, recourse in respect of any obligations of the Counterparty to Xxxxxx hereunder or thereunder will be limited to the Collateral Trust Fund and on the exhaustion thereof all claims against the Counterparty arising from this Confirmation or any other transactions contemplated hereby or thereby shall be extinguished.

No Petition; Limited Recourse. Xxxxxx hereby agrees that it shall not until Until a period of one year and one day (or if longer, the applicable preference period) after all rated liabilities of the Trust have been indefeasibly paid in full full, no Relevant Entity shall institute against, or join any other Person person in instituting against the Counterparty any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or state or other bankruptcy or similar laws. Notwithstanding the foregoing, nothing herein shall prevent Xxxxxx from participating in any such proceeding once commenced. This provision shall survive termination of this Agreement. Xxxxxx hereby acknowledges and agrees that the Counterparty’s obligations hereunder will be solely the limited recourse obligations of the CounterpartyCounterparty payable solely from the Supplemental Interest Trust and the proceeds thereof, in accordance with the priority of payments set out in the Pooling Agreement, and that Xxxxxx will not have any recourse to any of the agents, directors, officers, employees, shareholders or affiliates of the Counterparty with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. Notwithstanding any other provisions hereof, recourse in respect of any obligations of the Counterparty to Xxxxxx hereunder or thereunder will be limited to the Collateral Supplemental Interest Trust and on the exhaustion thereof all claims against the Counterparty arising from this Confirmation or any other transactions contemplated hereby or thereby shall be extinguished.

No Petition; Limited Recourse. Xxxxxx hereby agrees that it shall not until a period of one year and one day (or if longer, the applicable preference period) after all rated liabilities of the Trust have been indefeasibly paid in full institute against, or join any other Person in instituting against the Counterparty any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or state or other bankruptcy or similar laws. Notwithstanding the foregoing, nothing herein shall prevent Xxxxxx from participating in any such proceeding once commenced. This provision shall survive termination of this Agreement. Xxxxxx hereby acknowledges and agrees that the Counterparty’s obligations hereunder will be solely the limited recourse obligations of the Counterparty, and that Xxxxxx will not have any recourse to any of the directors, officers, employees, shareholders or affiliates of the Counterparty with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. Notwithstanding any other provisions hereof, recourse in respect of any obligations of the Counterparty to Xxxxxx hereunder or thereunder will be limited to the Collateral and on the exhaustion thereof all claims against the Counterparty arising from this Confirmation or any other transactions contemplated hereby or thereby shall be extinguished.