SUBSEQUENT BANKRUPTCY Sample Clauses

SUBSEQUENT BANKRUPTCY. 55 In the event that this Lease is assumed by a Trustee appointed for Tenant or by Tenant as Debtor- 56 In-Possession and thereafter Tenant is liquidated or files a subsequent Petition for reorganization or 57 adjustment of debts under Chapter 11 or 13 of the Bankruptcy Code, then, and in either of such events, 58 Landlord may, at its option, terminate this Lease and all rights of Tenant hereunder, by giving Xxxxxx 59 written notice of its election to so terminate, by no later than thirty (30) days after the occurrence of either 60 of such events. 61
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SUBSEQUENT BANKRUPTCY. 54 Section 10.21 SUPERSEDING ORIGINAL LOAN AGREEMENT............................55 AMENDED AND RESTATED LOAN AGREEMENT AMENDED AND RESTATED LOAN AGREEMENT ("AGREEMENT"), dated as of October 21, 1997, by and between Q.E.P. CO., INC., a Delaware corporation with its chief executive office and principal place of business at 0000 Xxxxxxx Xxxxx, Xxxx Xxxxx, Xxxxxxx 00000, Q.E.P. - O'TOOL, INC., a California corporation with its chief executive office and principal place of business at 00000 Xxxxxxx Xxxxxx, Carson, California 90746, XXXXXX TOOL CORPORATION, an Indiana corporation with its chief executive office and principal place of business at 00xx Xxxxxx xxx Xxxxxx Xxxxxx, Marion, Indiana 46952, WESTPOINT FOUNDRY, INC., an Indiana corporation with its chief executive office and principal place of business at 00xx Xxxxxx xxx Xxxxxx Xxxxxx, Marion, Indiana 46952, XXXXXXX CONSOLIDATED INDUSTRIES, INC., a Delaware corporation with its chief executive office and principal place of business at 000 Xxxxx Xxxxxxx Xxxx Boulevard, City of Industry, California 91749, XXXXXXX HOLDING INTERNATIONAL, INC., a Delaware corporation with its chief executive office and principal place of business at 000 Xxxxx Xxxxxxx Xxxx Boulevard, City of Industry, California 91749, and XXXXXXX COMPANY CANADA LIMITED, an Ontario corporation with its chief executive office and principal place of business at 0000 Xxxxxxx Xxxxxx, Xxxxxxxx, Xxxxxxx, Xxxxxx X0X0X0 (all of the foregoing hereinafter collectively called the "BORROWER" unless otherwise specifically indicated) and FLEET NATIONAL BANK, a national banking association with an office at Xxx Xxxxxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxxxxx 00000 (hereinafter referred to as the "LENDER").
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SUBSEQUENT BANKRUPTCY. In the event of Borrower's subsequent default hereunder, Borrower hereby covenants not to impede Lender's rightful exercise of its rights under the Loan Documents by seeking protection under Title 11 of the United States Bankruptcy Code. Borrower hereby agrees that in consideration of the mutual covenants and promises contained herein and the other Loan Documents, Borrower will not seek protection under Title 11 of the United States Bankruptcy Code. In the event that an order for relief pursuant to Title 11 of the United States Bankruptcy Code is entered against Borrower, Borrower hereby consents to relief from the automatic stay pursuant to 11 U.S.C. /section/ 362 and hereby irrevocably waives all defenses or objections thereto, in order to permit Lender to pursue its rights under general law.
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SUBSEQUENT BANKRUPTCY. 81 Section 11.21 Judgment............................................... 81 Section 11.22 Maximum Rate of Interest............................... 82 Section 11.23
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SUBSEQUENT BANKRUPTCY. In the event of Borrower's subsequent default hereunder, Borrower hereby covenants not to impede the Agent and each Lender's rightful exercise of its rights under the Loan Documents by seeking protection under Title 11 of the United States Bankruptcy Code. Borrower hereby agrees that in consideration of the mutual covenants and promises contained herein and the other Loan Documents, Borrower will not seek protection under Title 11 of the United States Bankruptcy Code. In the event that an order for relief pursuant to Title 11 of the United States Bankruptcy Code is entered against Borrower, Borrower hereby consents to relief from the automatic stay pursuant to 11 U.S.C. ss. 362 and hereby irrevocably waives all defenses or objections thereto, in order to permit the Agent and each Lender to pursue its respective rights under general law.
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SUBSEQUENT BANKRUPTCY. In the event Borrower becomes the subject of any insolvency, bankruptcy, receivership, dissolution, reorganization or similar proceeding, federal or state, voluntary or involuntary, under any present or future law or act, Lender shall be entitled to immediate and absolute lifting of any automatic stay as to the enforcement of its remedies under the Loan and Modification Documents against the Project, including specifically, but not limited to, the stay imposed by Section 362 of the United States Federal Bankruptcy Code, as amended. Borrower hereby irrevocably consents to the lifting of any such automatic stay and will not contest any motion by Lender to lift such stay. Borrower expressly acknowledges and, agrees not to take any contrary position in any subsequent bankruptcy proceeding, that: (i) the Project is not now and never will be necessary to any plan of reorganization of any type; (ii) Borrower is a single asset entity with no employees; (iii) Borrower has no creditors other than
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SUBSEQUENT BANKRUPTCY. In the event that this Lease is assumed by a trustee appointed for Tenant or by Tenant as debtor-in-possession and thereafter Tenant is liquidated or files a subsequent petition for reorganization or adjustment of debts under Chapter 11 or 13 of the Code, then, and in either of such events, Landlord may, at its option, terminate this Lease and all rights of Tenant hereunder, by giving Tenant written notice of its election to so terminate, by no later than thirty (30) days after the occurrence of either of such events.
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SUBSEQUENT BANKRUPTCY. In the event of Borrower’s subsequent default hereunder, Borrower hereby covenants not to impede the Agent and each Lender’s rightful exercise of its rights under the Loan Documents by seeking protection under Title 11 of the United States Bankruptcy Code or other applicable law, of similar application. Borrower hereby agrees that in consideration of the mutual covenants and promises contained herein and the other Loan Documents, Borrower will not seek protection under Title 11 of the United States Bankruptcy Code or other applicable law, of similar application, including without limitation Canadian bankruptcy laws. In the event that an order for relief pursuant to Title 11 of the United States Bankruptcy Code or other applicable law, of similar application is entered against Borrower, Borrower hereby consents to relief from the automatic stay pursuant to 11 U.S.C. § 362 or otherwise to ensure that the Agent and Lenders shall be “unaffected creditors” and not subject to any stay of proceedings and hereby irrevocably waives all defenses or objections thereto, in order to permit the Agent and each Lender to pursue its respective rights under general law.
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SUBSEQUENT BANKRUPTCY. In the event Borrower becomes the subject of any insolvency, bankruptcy, receivership, dissolution, reorganization or similar proceeding, federal or state, voluntary or involuntary, under any present or future law or act, Lender shall be entitled to immediate and absolute lifting of any automatic stay as to the enforcement of its remedies under the Loan Documents against the Project, including specifically, but not limited to, the stay imposed by Section 362 of the United States Federal Bankruptcy Code, as amended. Borrower hereby irrevocably consents to the lifting of any such automatic stay and will not contest any motion by Lender to lift such stay. Borrower expressly acknowledges, and agrees not to take any contrary position in any subsequent bankruptcy proceeding, that: (i) the Project is not now and never will be necessary to any plan of reorganization of any type; (ii) Borrower is a single asset entity with no employees; (iii) Borrower has no creditors other than Lender (except for a few creditors small in relation to Lender which relate to operating expenses being paid as they come due); and (iv) any subsequent bankruptcy filing by the Borrower to this loan extension will be in bad faith for the sole purpose of delaying and frustrating the legitimate efforts of Lender to enforce its rights. The provisions of this paragraph are essential elements of Lender's consideration for entering into this Amendment.
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Related to SUBSEQUENT BANKRUPTCY

  • Action if Bankruptcy If any Event of Default described in clauses (i) through (iv) of Section 9.1(h) with respect to the Borrower shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of the Loans and all other Obligations shall automatically be and become immediately due and payable, without notice or demand to any Person.

  • Insolvency or Bankruptcy The death, dissolution or insolvency of, appointment of a receiver by or on behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against me or any co-signer, endorser, surety or guarantor of this Agreement or any other obligations I have with you.

  • Obligor Bankruptcy At the Cutoff Date no Obligor had been identified on the records of AmeriCredit as being the subject of a current bankruptcy proceeding.

  • No Bankruptcy There are no bankruptcy proceedings pending, being contemplated by or, to the knowledge of Seller, threatened against Seller by any third party.

  • Borrower Bankruptcy To the Mortgage Loan Seller's knowledge, no Borrower under a Mortgage Loan is a debtor in any state or federal bankruptcy, insolvency or similar proceeding. To the Mortgage Loan Seller's knowledge, as of the origination of the Mortgage Loan, none of (x) the nonrecourse carveout guarantors or nonrecourse carveout indemnitors under the Mortgage Loan, (y) any tenant with respect to more than 75% of the net rentable area at the related Mortgaged Property that is an Affiliate of the Borrower or (z) the sole tenant at the Mortgaged Property (in the case of this clause (z), if substantially all of the Mortgaged Property is leased to a single tenant and the tenant was the owner of the Mortgaged Property immediately prior to the origination of the Mortgage Loan) was a debtor in any state or federal bankruptcy, insolvency or similar proceeding.

  • Mortgagor Bankruptcy On or prior to the date 60 days after the related Closing Date, the Mortgagor has not filed and will not file a bankruptcy petition or has not become the subject and will not become the subject of involuntary bankruptcy proceedings or has not consented to or will not consent to the filing of a bankruptcy proceeding against it or to a receiver being appointed in respect of the related Mortgaged Property;

  • Termination Upon Bankruptcy Either Party may terminate this Agreement if, at any time, the other Party shall (a) file in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of that Party or of its assets, (b) propose a written agreement of composition or extension of its debts, (c) be served with an involuntary petition against it, filed in any insolvency proceeding, and such petition has not been dismissed within sixty (60) days after the filing thereof, (d) propose or be a party to any dissolution or liquidation, (e) make an assignment for the benefit of its creditors or (f) admit in writing its inability generally to meet its obligations as they fall due in the general course.

  • Termination for Bankruptcy/Insolvency Either Party may terminate this Agreement immediately following written notice to the other Party if the other Party (i) ceases to do business in the normal course, (ii) becomes or is declared insolvent or bankrupt, (iii) is the subject of any proceeding related to its liquidation or insolvency (whether voluntary or involuntary) which is not dismissed within ninety (90) calendar days or (iv) makes an assignment for the benefit of creditors.

  • Bankruptcy Subject to Section 5(c), each Note Holder hereby covenants and agrees that only the Lead Securitization Note Holder has the right to institute, file, commence, acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any Person in any such petition or otherwise invoke or cause any other Person to invoke an Insolvency Proceeding with respect to or against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official with respect to the Mortgage Loan Borrower or all or any part of its property or assets or ordering the winding-up or liquidation of the affairs of the Mortgage Loan Borrower. Each Note Holder further agrees that only the Lead Securitization Note Holder, and not the Non-Lead Securitization Note Holder, can make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application or take any other action in any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding. The Note Holders hereby appoint the Lead Securitization Note Holder as their agent, and grant to the Lead Securitization Note Holder an irrevocable power of attorney coupled with an interest, and their proxy, for the purpose of exercising any and all rights and taking any and all actions available to the Non-Lead Securitization Note Holder in connection with any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding, including, without limitation, the right to file and/or prosecute any claim, vote to accept or reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage Loan, and to file a motion to modify, lift or terminate the automatic stay with respect to the Mortgage Loan. The Note Holders hereby agree that, upon the request of the Lead Securitization Note Holder, the Non-Lead Securitization Note Holder shall execute, acknowledge and deliver to the Lead Securitization Note Holder all and every such further deeds, conveyances and instruments as the Lead Securitization Note Holder may reasonably request for the better assuring and evidencing of the foregoing appointment and grant. All actions taken by the Servicer in connection with any Insolvency Proceeding are subject to and must be in accordance with the Servicing Standard.

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