Common use of Agreements Not to Institute Bankruptcy Proceedings; Additional Covenants Clause in Contracts

Agreements Not to Institute Bankruptcy Proceedings; Additional Covenants. (a) The Issuer shall not, without the unanimous consent of the board of directors of the Depositor (including each of its Independent Directors), voluntarily institute any proceedings to adjudicate the Issuer a bankrupt or insolvent, consent to the institution of bankruptcy or insolvency proceedings against the Issuer, file a petition seeking or consenting to reorganization or relief under any applicable federal or State law relating to bankruptcy, consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Issuer or a substantial part of its property or admit its inability to pay its debts generally as they become due or authorize any of the foregoing to be done or taken on behalf of the Issuer.

Agreements Not to Institute Bankruptcy Proceedings; Additional Covenants. (a) The Issuer shall not, without the unanimous consent of the board of directors of the Depositor (including each of its Independent Directors), only voluntarily institute any proceedings Proceedings to adjudicate the Issuer a as bankrupt or insolvent, consent to the institution of bankruptcy or insolvency proceedings Proceedings against the Issuer, file a petition seeking or consenting to reorganization or relief under any applicable federal or State law relating to bankruptcy, consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Issuer or a substantial part of its property or admit its inability to pay its debts generally as they become due or authorize any of the foregoing to be done or taken on behalf of the Issuer, in accordance with the terms of the Issuer Operating Agreement.