Common use of Attachment; Levy; Restraint on Business Clause in Contracts

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten (10) day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 3 contracts

Samples: Loan and Security Agreement (Alto Neuroscience, Inc.), Loan and Security Agreement (Alto Neuroscience, Inc.), Loan and Security Agreement (Alto Neuroscience, Inc.)

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Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any material portion of funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against the any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) 10 days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten (10) -day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.;

Appears in 3 contracts

Samples: Loan and Security Agreement (Metacrine, Inc.), Loan and Security Agreement (Metacrine, Inc.), Loan and Security Agreement (Metacrine, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten (10) day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 2 contracts

Samples: Loan and Security Agreement (89bio, Inc.), Loan and Security Agreement (Mind Medicine (MindMed) Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds in any Collateral Account of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) days Business Days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten (10) day Business Day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 2 contracts

Samples: Loan and Security Agreement (Surface Oncology, Inc.), Loan and Security Agreement (Surface Oncology, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any material portion of funds of the Loan Parties and their Subsidiaries, taken as a Loan Party or of any of its Subsidiarieswhole, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any the Loan Party or any of its Subsidiaries Parties and their Subsidiaries, taken as a whole, by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) days Business Days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten (10) day Business Day cure period; or or (i) Any any material portion of the assets of the Loan Parties and their Subsidiaries, taken as a Loan Party or any of its Subsidiaries whole, is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents the Loan Parties and their Subsidiaries, taken as a Loan Party or any of its Subsidiaries whole, from conducting all or any material part of its business.

Appears in 2 contracts

Samples: Loan and Security Agreement (Evelo Biosciences, Inc.), Loan and Security Agreement (Evelo Biosciences, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan any Credit Party or of any entity under the control of its Subsidiariesany Credit Party (including a Subsidiary) on deposit or otherwise maintained with any Lender or any Lender’s Affiliate, or (ii) a notice of Lien lien or levy is filed against any material portion of the Credit Party’s assets of any Loan Party or any of its Subsidiaries by any Governmental Authoritygovernment agency, and the same under clauses subclauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Credit Extensions shall be made during any ten (10) day cure period; or (i) Any material portion of the any Credit Party’s assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan any Credit Party or any of its Subsidiaries from conducting all or any material part of its business.;

Appears in 2 contracts

Samples: Loan and Security Agreement (Horizon Pharma, Inc.), Loan and Security Agreement (Horizon Pharma, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan Party Borrower or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party Borrower or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any such ten (10) day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (Allurion Technologies Holdings, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any a material portion of funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any a material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Credit Extensions shall be made during any ten (10) day cure period; or (i) Any any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (Vapotherm Inc)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee trustee, receiver or similar process, any funds of a Loan Party Borrower or of any entity under control of its SubsidiariesBorrower (including a Subsidiary), or (ii) a notice of Lien lien, levy, or levy assessment is filed against any a material portion of the Borrower’s assets of any Loan Party or any of its Subsidiaries by any Governmental Authoritygovernment agency, and the same under sub-clauses (i) and (ii) hereof are not, within ten twenty (1020) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Advances shall be made during any ten twenty (1020) day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries Party’s assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a such Loan Party or any of its Subsidiaries from conducting all or any material part of its business.;

Appears in 1 contract

Samples: Loan and Guaranty Agreement (Safeguard Scientifics Inc)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds in any Collateral Account of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten fifteen (1015) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten fifteen (1015) day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (Aptinyx Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof above are not, within ten (10) 10 days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Credit Extensions shall be made during any ten (10) 10 day cure period; oror (b) (i) Any any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (Pulmonx Corp)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten twenty (1020) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten twenty (1020) day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (TScan Therapeutics, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee trustee, receiver or similar process, any funds of a Loan Party Borrower or of any entity under control of its SubsidiariesBorrower (including a Subsidiary), or (ii) a notice of Lien lien, levy, or levy assessment is filed against any a material portion of the Borrower’s assets of any Loan Party or any of its Subsidiaries by any Governmental Authoritygovernment agency, and the same under sub-clauses (i) and (ii) hereof are not, within ten twenty (1020) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Advances shall be made during any ten twenty (1020) day cure period; or (b) (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries Party’s assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a such Loan Party or any of its Subsidiaries from conducting all or any material part of its business.;

Appears in 1 contract

Samples: Loan and Guaranty Agreement (Safeguard Scientifics Inc)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any material funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy xxxx is filed against any the material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten twenty (1020) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten twenty (1020) day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (Werewolf Therapeutics, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Credit Extensions shall be made during any ten (10) day cure period; or (i) Any any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (Minerva Surgical Inc)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any material portion of funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten (10) day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan, Guaranty, and Security Agreement (ASLAN Pharmaceuticals LTD)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a any Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien lien or levy is filed against any material portion of the assets of any Loan Party Party’s or any of its Subsidiaries Subsidiaries’ assets by any Governmental Authority, and the same under clauses subclauses (i) and (ii) hereof are not, within ten thirty (1030) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Term Loan Advances shall be made during any ten fifteen (1015) day cure period; or (b) (i) Any any material portion of the assets of a any Loan Party Party’s or any of its Subsidiaries Subsidiaries’ assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a any Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (COMPASS Pathways PLC)

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Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan Party or of any of its SubsidiariesSubsidiaries with a value individually or in the aggregate in excess of Five Hundred Thousand Dollars ($500,000.00), or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries with a value individually or in the aggregate in excess of Five Hundred Thousand Dollars ($500,000.00) by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten (10) day cure period; oror (b) (i) Any any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (Acumen Pharmaceuticals, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any material funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any the material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten twenty (1020) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten twenty (1020) day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business, and, in case such court order applies to other businesses in the same geographic location, in the same or similar line of business or otherwise to similarly situated businesses generally, such court order is not vacated or modified to avoid such restriction on the operation of the business within twenty (20) days following the entry thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Molecular Templates, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within 274337441 v12 ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Credit Extensions shall be made during any ten (10) day cure period; or (i) Any any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (PROCEPT BioRobotics Corp)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a any Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien lien or levy is filed against any material portion of the assets of any Loan Party Party’s or any of its Subsidiaries Subsidiaries’ assets by any Governmental Authority, and the same under clauses subclauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Advances shall be made during any ten (10) day cure period; or (i) Any any material portion of the assets of a any Loan Party Party’s or any of its Subsidiaries Subsidiaries’ assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a any Loan Party or any of its Subsidiaries from conducting all or any material part of its business.; or |

Appears in 1 contract

Samples: Working Capital Facility Agreement (Heron Therapeutics, Inc. /De/)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a any Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien lien or levy is filed against any material portion of the assets of any Loan Party Party’s or any of its Subsidiaries Subsidiaries’ assets by any Governmental Authority, and the same under clauses subclauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Advances shall be made during any ten (10) day cure period; or (b) (i) Any any material portion of the assets of a any Loan Party Party’s or any of its Subsidiaries Subsidiaries’ assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a any Loan Party or any of its Subsidiaries from conducting all or any material part of its business., in each case, and such attachment, seizure, order or judgement remains unsatisfied, unvacated or unstayed for a period of thirty (30) days after the occurrence of such event thereof;

Appears in 1 contract

Samples: Loan and Security Agreement (Senseonics Holdings, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a any Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien lien or levy is filed against any material portion of the assets of any Loan Party Party’s or any of its Subsidiaries Subsidiaries’ assets by any Governmental Authority, and the same under clauses subclauses (i) and (ii) hereof are not, within ten twenty (1020) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Advances shall be made during any ten twenty (1020) day cure period; or (b) (i) Any any material portion of any the assets of a Loan Party or any of its Subsidiaries Collateral is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a any Loan Party or any of its Subsidiaries from conducting all or any material part of its business.; or

Appears in 1 contract

Samples: Loan and Security Agreement (Sight Sciences, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan Party or of any of its Subsidiaries, or (ii) a notice of Lien or levy is filed against any material portion of the assets of any Loan Party or any of its Subsidiaries by any Governmental Authority, and the same under clauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten (10) day cure period; or (i) Any material portion of the assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan Party or any of its Subsidiaries from conducting all or any material part of its business.

Appears in 1 contract

Samples: Loan and Security Agreement (Porch Group, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a Loan any Note Party or of any entity under control of its Subsidiariessuch Note Party (including a Subsidiary) on deposit with Note Agent or one of Note Agent’s Affiliates, or (ii) a notice of Lien Lien, levy, or levy assessment is filed against any material portion of the assets of any Loan Party Note Party’s or any of its Subsidiaries assets by any Governmental Government Authority, and the same under clauses subclauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans shall be made during any ten (10) day cure period; or (b) (i) Any any material portion of the assets of a Loan Party any Note Party’s or any of its Subsidiaries Subsidiaries’ assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a Loan any Note Party or any of its Subsidiaries from conducting all or any material part of its business.;

Appears in 1 contract

Samples: Note Purchase and Security Agreement (Comverge, Inc.)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a any Loan Party or of any entity under the control of its Subsidiariessuch Loan Party (including a Subsidiary), or (ii) a notice of Lien lien or levy (other than a Permitted Lien) is filed against any material portion Property, the Project or any of the assets of any Loan Party by a Governmental Authority or any of its Subsidiaries by any Governmental Authorityother party, and the same under sub-clauses (i) and (ii) hereof are not, within ten thirty (1030) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Term Loan shall be made funded during any ten thirty (1030) day cure period; or (b) (i) Any any material portion of the any Loan Party’s assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a such Loan Party or any of its Subsidiaries from conducting all or any material part of its business.;

Appears in 1 contract

Samples: Loan Agreement (Aspen Aerogels Inc)

Attachment; Levy; Restraint on Business. (a) (i) The service of process seeking to attach, by trustee or similar process, any funds of a any Loan Party or of any entity under the control of its Subsidiariessuch Loan Party (including a Subsidiary), or (ii) a notice of Lien lien or levy (other than a Permitted Lien) is filed against any material portion Property, the Project or any of the assets of any Loan Party by a Governmental Authority or any of its Subsidiaries by any Governmental Authorityother party, and the same under sub-clauses (i) and (ii) hereof are not, within ten thirty (1030) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise); provided, however, no Loans Term Loan shall be made funded during any ten thirty (1030) day cure period; or (i) Any any material portion of the any Loan Party’s assets of a Loan Party or any of its Subsidiaries is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents a such Loan Party or any of its Subsidiaries from conducting all or any material part of its business.;

Appears in 1 contract

Samples: Loan Agreement (Aspen Aerogels Inc)

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