Non-Petition. The Company, the Seller, the Servicer and the Trustee, by entering into this Agreement, and each Certificateholder, by accepting a Certificate, hereby covenant and agree that they will not at any time institute against the Trust Fund, or join in any institution against the Trust Fund of, any bankruptcy proceedings under any United States federal or state bankruptcy or similar law in connection with any obligation with respect to the Certificates or this Agreement.
Non-Petition. Notwithstanding anything in this Custodial Agreement to the contrary, the Custodian, in its capacity as custodian hereunder, shall not, prior to the date which is one year and one day after the termination of this Custodial Agreement, with respect to the Depositor or the Trustee, acquiesce, petition or otherwise invoke or cause the Depositor or the Trustee (or any assignee) to invoke the process of the court or governmental authority for the purpose of commencing or sustaining a case against the Depositor or the Trustee under any federal or state bankruptcy, insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Depositor or the Trustee or any substantial part of its property or ordering the winding up or liquidation of the affairs of the Depositor or the Trustee.
Non-Petition. The Seller covenants and agrees that, prior to the date that is one year (or, if longer, any applicable preference period) and one day after the payment in full of all Debt (other than contingent reimbursement and indemnification obligations which are unknown, unmatured and for which no claim has been made), no party hereto shall institute against, or join any other Person in instituting against, the Purchaser any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other similar proceedings under any federal, state or foreign bankruptcy or similar law. This Section 6.8 shall survive termination of the Agreement.
Non-Petition. The Underwriter hereby agrees not to cause or participate in the filing of a petition in bankruptcy against the Company for the non-payment to the Underwriter of any amounts provided by this Agreement or otherwise until one year and one day after the payment in full of all amounts due on the Certificates in accordance with the terms of the Pooling and Servicing Agreement. If the foregoing is in accordance with your understanding of our agreement, please sign this Agreement and return it to us. Very truly yours, BANC OF AMERICA FUNDING CORPORATION By: /s/ Xxxxx Xxxxx -------------------------------- Name: Xxxxx Xxxxx Title: Senior Vice President The foregoing Agreement is hereby confirmed and accepted as of the date first written above. BANC OF AMERICA SECURITIES LLC By: /s/ Xxxxx Xxxxx --------------------------------- Name: Xxxxx Xxxxx Title: Principal SCHEDULE I ---------- Offered Certificates: Class 0-X-0, 0-X-0, 0-X-X, 0-X-0, 0-X-0, -------------------- 3-A-1, 0-X-0, 0-X-0, 0-X-0, 0-X-0, 0-X-0, X-0, X-0 and B-3 Certificates Registration Statement ---------------------- File Number: 333-121559 ----------- Initial Class Certificate Balance of Offered Certificates: --------------------------------------------------------- Initial Class Class Certificate Balance --------------------------- -------------------------------- Class 1-A-1 $32,670,000 Class 1-A-2 $1,518,000 Class 1-A-R $100 Class 2-A-1 $159,073,000 Class 2-A-2 $7,388,000 Class 3-A-1 $25,179,000 Class 3-A-2 $1,170,000 Class 4-A-1 $105,948,000 Class 4-A-2 $15,875,000 Class 4-A-3 $44,381,000 Class 4-A-4 $7,720,000 Class B-1 $10,259,000 Class B-2 $2,722,000 Class B-3 $1,884,000 Purchase Price: $413,822,226.72. -------------- Classes of Book-Entry --------------------- Certificates: Class 1-A-1, Class 1-A-2, Class 2-A-1, Class ------------ 2-A-2, Class 3-A-1, Class 3-A-2, Class 4-A-1, Class 4-A-2, Class 4-A-3, Class 4-A-4, Class B-1, Class B-2 and Class B-3. Description of Mortgage ----------------------- Loans: Four loan groups of variable rate, first ----- mortgage loans having an aggregate principal balance as of the Cut-off Date of approximately $418,718,808. The Mortgage Loans are secured by one- to four-family residential properties.
Non-Petition. Prior to the date that is one year and one day after all distributions in respect of the Units have been made, none of the Trustee, the Trust or the Depositor shall take any action, institute any proceeding, join in any action or proceeding or otherwise cause any action or proceeding against any of the others under the United States Bankruptcy Code or any other liquidation, insolvency, bankruptcy, moratorium, reorganization or similar law ("Insolvency Law") applicable to any of them, now or hereafter in effect, or which would be reasonably likely to cause any of the others to be subject to, or seek the protection of, any such Insolvency Law.
Non-Petition. The Issuer and all of the other parties hereto (other than the Bond Trustee) agree that they shall not institute or join any other Person or entity in instituting against, or with respect to, the Guarantor LP, or any of the general partners of the Guarantor LP, any bankruptcy or insolvency event so long as any Covered Bonds issued by the Issuer under the Programme shall be outstanding or there shall not have elapsed one year plus one day since the last day on which any such Covered Bonds shall have been outstanding. The foregoing provision shall survive the termination of this Agreement by any of the parties hereto.
Non-Petition. Party A hereby agrees that it will not bring any action (whether in bankruptcy or otherwise) against Party B in any court prior to the date which is one year and one day after all Investor Certificates (as such term is defined in the Pooling and Servicing Agreement), including all collateral interests and class C interests, of Party B have been paid in full. (d)
Non-Petition. The Borrower shall not be party to any agreements under which it has any material obligation or liability (direct or contingent) without using commercially reasonable efforts to include customary “non-petition” and “limited recourse” provisions therein (and shall not amend or eliminate such provisions in any agreement to which it is party), except for loan agreements, related loan documents, bond indentures and related bond documents, any agreements related to the purchase and sale of any Collateral Loan which contain customary (as determined by the Collateral Manager) purchase or sale terms or which are documented using customary (as determined by the Collateral Manager) loan trading documentation, customary service contracts and engagement letters entered into in connection with the Collateral Loans and any agreement that does not impose a material obligation on the Borrower and that is of a type that customarily does not include “non-petition” or “limited recourse” provisions.
Non-Petition. The Issuer and Cash Manager agree that they shall not institute or join any other Person or entity in instituting against, or with respect to, the Guarantor, or any of the general partners of the Guarantor, any bankruptcy or insolvency event so long as any Covered Bonds issued by the Issuer under the Programme shall be outstanding or there shall not have elapsed one year plus one day since the last day on which any such Covered Bonds shall have been outstanding. The foregoing provision shall survive the termination of this Agreement by any of the parties hereto.
Non-Petition. In the event of any breach of a representation and warranty made by the Purchaser hereunder, the Seller covenants and agrees that it will not take any action to pursue any remedy that it may have hereunder, in law, in equity or otherwise, until a year and a day have passed since the date on which all certificates issued by the Trust or a similar trust formed by the Purchaser have been paid in full. The Purchaser and the Seller agree that damages will not be an adequate remedy for such breach and that this covenant may be specifically enforced by the Purchaser or by the Trust.
