Common use of Bankruptcy Acknowledgment Clause in Contracts

Bankruptcy Acknowledgment. If the Mortgaged Property or any portion thereof or any interest therein becomes property of any bankruptcy estate or subject to any state or federal insolvency proceeding, or in the event of the filing of any voluntary or involuntary petition under the Bankruptcy Code by or against Mortgagor then Mortgagee shall immediately become entitled, in addition to all other relief to which Mortgagee may be entitled under this Mortgage, to obtain (i) an order from any bankruptcy court or other appropriate court granting immediate relief from the automatic stay pursuant to § 362 of the Bankruptcy Code so as to permit Mortgagee to pursue its rights and remedies against Mortgagor as provided under this Mortgage and all other rights and remedies of Mortgagee at law and in equity under applicable state law, and (ii) an order from the Bankruptcy Court prohibiting Mortgagor’s use of all “cash collateral” as defined under § 363 of the Bankruptcy Code. Mortgagor shall not assert or request any other party to assert, that the automatic stay under § 362 of the Bankruptcy Code operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage, or any other rights that Mortgagee has, whether now or hereafter acquired, against any guarantor of the Debt. Mortgagor shall not seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to § 105 of the Bankruptcy Code or any other provision therein to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage against any guarantor of the Debt. Any bankruptcy petition or other action taken by Mortgagor to stay, condition, or inhibit Mortgagee from exercising its remedies are hereby admitted by Mortgagor to be in bad faith and Mortgagor further admits that Mortgagee would have just cause for relief from the automatic stay in order to take such actions authorized under state law.

Bankruptcy Acknowledgment. If the Mortgaged Property or any portion thereof or any interest therein becomes property of any bankruptcy estate or subject to any state or federal insolvency proceeding, or in the event of the filing of any voluntary or involuntary petition under the Bankruptcy Code by or against Mortgagor Trustor then Mortgagee Beneficiary shall immediately become entitled, in addition to all other relief to which Mortgagee Beneficiary may be entitled under this MortgageDeed of Trust, to obtain (i) an order from any bankruptcy court or other appropriate court granting immediate relief from the automatic stay pursuant to § ss. 362 of the Bankruptcy Code so as to permit Mortgagee Beneficiary to pursue its rights and remedies against Mortgagor Trustor as provided under this Mortgage Deed of Trust and all other rights and remedies of Mortgagee Beneficiary at law and in equity under applicable state law, and (ii) an order from the Bankruptcy Court any bankruptcy court prohibiting Mortgagor’s Trustor's use of all “"cash collateral” " as defined under § ss. 363 of the Bankruptcy Code. Mortgagor Trustor shall not assert or request any other party to assert, that the automatic stay under § ss. 362 of the Bankruptcy Code operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Mortgagee Beneficiary to enforce any rights it has by virtue of this MortgageDeed of Trust, or any other rights that Mortgagee Beneficiary has, whether now or hereafter acquired, against any guarantor of the Debt. Mortgagor Trustor shall not seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to § ss. 105 of the Bankruptcy Code or any other provision therein to stay, interdict, condition, reduce or inhibit the ability of Mortgagee Beneficiary to enforce any rights it has by virtue of this Mortgage Deed of Trust against any guarantor of the Debt. Any bankruptcy petition or other action taken by Mortgagor the Trustor to stay, condition, or inhibit Mortgagee Beneficiary from exercising its remedies are hereby admitted by Mortgagor Trustor to be in bad faith and Mortgagor Trustor further admits that Mortgagee Beneficiary would have just cause for relief from the automatic stay in order to take such actions authorized under state law.

Bankruptcy Acknowledgment. If In the event the Mortgaged Property or any portion thereof or any interest therein becomes property of any bankruptcy estate or subject to any state or federal insolvency proceeding, or in the event of the filing of any voluntary or involuntary petition under the Bankruptcy Code by or against Mortgagor then Mortgagee shall immediately become entitled, in addition to all other relief to which Mortgagee may be entitled under this Mortgage, to obtain (i) an order from any bankruptcy court the Bankruptcy Court or other appropriate court granting immediate relief from the automatic stay pursuant to § Section 362 of the Bankruptcy Code so as to permit Mortgagee to pursue its rights and remedies against Mortgagor as provided under this Mortgage and all other rights and remedies of Mortgagee at law and in equity under applicable state law, and (ii) an order from the Bankruptcy Court prohibiting Mortgagor’s 's use of all “"cash collateral” " as defined under § Section 363 of the Bankruptcy Code. In connection with such Bankruptcy Court orders, Mortgagor shall not assert contend or request allege in any other party to assert, pleading or petition filed in any court proceeding that Mortgagee does not have sufficient grounds for relief from the automatic stay under § 362 of the Bankruptcy Code operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage, or any other rights that Mortgagee has, whether now or hereafter acquired, against any guarantor of the Debt. Mortgagor shall not seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to § 105 of the Bankruptcy Code or any other provision therein to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage against any guarantor of the Debt. Any bankruptcy petition or other action taken by Mortgagor to stay, condition, or inhibit Mortgagee from exercising its remedies are hereby admitted by Mortgagor to be in bad faith and Mortgagor further admits that Mortgagee would have just cause for relief from the automatic stay in order to take such actions authorized under state law.

Bankruptcy Acknowledgment. If In the event the Mortgaged Property or any portion thereof or any interest therein becomes property of any bankruptcy estate or subject to any state or federal insolvency proceeding, or in the event of the filing of any voluntary or involuntary petition under the Bankruptcy Code by or against Mortgagor then Mortgagee shall immediately become entitled, in addition to all other relief to which Mortgagee may be entitled under this Mortgage, to obtain (i) an order from any bankruptcy court the Bankruptcy Court or other appropriate court granting immediate relief from the automatic stay pursuant to § ss. 362 of the Bankruptcy Code so as to permit Mortgagee to pursue its rights and remedies against Mortgagor as provided under this Mortgage and all other rights and remedies of Mortgagee at law and in equity under applicable state law, and (ii) an order from the Bankruptcy Court prohibiting Mortgagor’s 's use of all “"cash collateral” " as defined under § ss. 363 of the Bankruptcy Code. In connection with such Bankruptcy Court orders, Mortgagor shall not assert contend or request allege in any other party to assert, pleading or petition filed in any court proceeding that Mortgagee does not have sufficient grounds for relief from the automatic stay under § 362 of the Bankruptcy Code operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage, or any other rights that Mortgagee has, whether now or hereafter acquired, against any guarantor of the Debt. Mortgagor shall not seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to § 105 of the Bankruptcy Code or any other provision therein to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage against any guarantor of the Debt. Any bankruptcy petition or other action taken by the Mortgagor to stay, condition, or inhibit Mortgagee from exercising its remedies are hereby admitted by Mortgagor to be in bad faith and Mortgagor further admits that Mortgagee would have just cause for relief from the automatic stay in order to take such actions authorized under state law.

Bankruptcy Acknowledgment. If the Mortgaged Property or any portion thereof or any interest therein becomes property of any bankruptcy estate or subject to any state or federal insolvency proceeding, or in the event of the filing of any voluntary or involuntary petition under the Bankruptcy Code by or against Mortgagor then Mortgagee shall immediately become entitled, in addition to all other relief to which Mortgagee may be entitled under this Mortgage, to obtain (i) an order from any bankruptcy court or other appropriate court granting immediate relief from the automatic stay pursuant to § ss. 362 of the Bankruptcy Code so as to permit Mortgagee to pursue its rights and remedies against Mortgagor as provided under this Mortgage and all other rights and remedies of Mortgagee at law and in equity under applicable state law, and (ii) an order from the Bankruptcy Court prohibiting Mortgagor’s 's use of all “"cash collateral” " as defined under § ss. 363 of the Bankruptcy Code. Mortgagor shall not assert or request any other party to assert, that the automatic stay under § ss. 362 of the Bankruptcy Code operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage, or any other rights that Mortgagee has, whether now or hereafter acquired, against any guarantor of the Debt. Mortgagor shall not seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to § ss. 105 of the Bankruptcy Code or any other provision therein to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage against any guarantor of the Debt. Any bankruptcy petition or other action taken by the Mortgagor to stay, condition, or inhibit Mortgagee from exercising its remedies are hereby admitted by Mortgagor to be in bad faith and Mortgagor further admits that Mortgagee would have just cause for relief from the automatic stay in order to take such actions authorized under state law.

Bankruptcy Acknowledgment. If In the event the Mortgaged Property or any portion thereof or any interest therein becomes property of any bankruptcy estate or subject to any state or federal insolvency proceeding, or in the event of the filing of any voluntary or involuntary petition under the Bankruptcy Code by or against Mortgagor then Mortgagee shall immediately become entitled, in addition to all other relief to which Mortgagee may be entitled under this Mortgage, to obtain (i) an order from any bankruptcy court the Bankruptcy Court or other appropriate court granting immediate relief from the automatic stay pursuant to § Section 362 of the Bankruptcy Code so as to permit Mortgagee to pursue its rights and remedies against Mortgagor Xxxxxxxxx as provided under this Mortgage and all other rights and remedies of Mortgagee at law and in equity under applicable state law, and (ii) an order from the Bankruptcy Court prohibiting Mortgagor’s Xxxxxxxxx's use of all “"cash collateral” " as defined under § Section 363 of the Bankruptcy Code. Mortgagor In connection with such Bankruptcy Court orders, Xxxxxxxxx shall not assert contend or request allege in any other party to assert, pleading or petition filed in any court proceeding that Mortgagee does not have sufficient grounds for relief from the automatic stay under § 362 of the Bankruptcy Code operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage, or any other rights that Mortgagee has, whether now or hereafter acquired, against any guarantor of the Debt. Mortgagor shall not seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to § 105 of the Bankruptcy Code or any other provision therein to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage against any guarantor of the Debt. Any bankruptcy petition or other action taken by Mortgagor Xxxxxxxxx to stay, condition, or inhibit Mortgagee from exercising its remedies are hereby admitted by Mortgagor Xxxxxxxxx to be in bad faith and Mortgagor Xxxxxxxxx further admits that Mortgagee would have just cause for relief from the automatic stay in order to take such actions authorized under state law.

Bankruptcy Acknowledgment. If In the event the Mortgaged Property or any portion thereof or any interest therein becomes property of any bankruptcy estate or subject to any state or federal insolvency proceeding, or in then to the event of the filing of any voluntary or involuntary petition extent permitted under the Bankruptcy Code by or against Mortgagor then Code, Mortgagee shall immediately become entitled, in addition to all other relief to which Mortgagee may be entitled under this Mortgage, to obtain (i) an order from any bankruptcy court the Bankruptcy Court or other appropriate court granting immediate relief from the automatic stay pursuant to § Sec. 362 of the Bankruptcy Code so as to permit Mortgagee to pursue its rights and remedies against Mortgagor Xxxxxxxxx as provided under this Mortgage and all other rights and remedies of Mortgagee at law and in equity under applicable state law, and (ii) an order from the Bankruptcy Court prohibiting Mortgagor’s Xxxxxxxxx's use of all “"cash collateral” " as defined under § Sec. 363 of the Bankruptcy Code. Mortgagor In connection with such Bankruptcy Court orders, Xxxxxxxxx shall not assert contend or request allege in any other party to assert, pleading or petition filed in any court proceeding that Mortgagee does not have sufficient grounds for relief from the automatic stay under § 362 of the Bankruptcy Code operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage, or any other rights that Mortgagee has, whether now or hereafter acquired, against any guarantor of the Debt. Mortgagor shall not seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to § 105 of the Bankruptcy Code or any other provision therein to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage against any guarantor of the Debt. Any bankruptcy petition or other action taken by Mortgagor Xxxxxxxxx to stay, condition, or inhibit Mortgagee from exercising its remedies are hereby admitted by Mortgagor Xxxxxxxxx to be in bad faith and Mortgagor Xxxxxxxxx further admits that Mortgagee would have just cause for relief from the automatic stay in order to take such actions authorized under state law. The terms and provisions of this subsection shall be effective only to the extent permitted under the Bankruptcy Code.

Bankruptcy Acknowledgment. If the Mortgaged Property or ------------------------- any portion thereof or any interest therein becomes property of any bankruptcy estate or subject to any state or federal insolvency proceeding, or in the event of the filing of any voluntary or involuntary petition under the Bankruptcy Code by or against Mortgagor then Mortgagee shall immediately become entitled, in addition to all other relief to which Mortgagee may be entitled under this Mortgage, to obtain (i) an order from any bankruptcy court or other appropriate court exercising jurisdiction over the bankruptcy case granting immediate relief from the automatic stay pursuant to § ss. 362 of the Bankruptcy Code so as to permit Mortgagee to pursue its rights and remedies against Mortgagor as provided under this Mortgage and all other rights and remedies of Mortgagee at law and in equity under applicable state law, and (ii) an order from the Bankruptcy Court any bankruptcy court prohibiting Mortgagor’s 's use of all “"cash collateral” " (as defined under § ss. 363 of the Bankruptcy Code). Mortgagor shall not assert or request any other party to assert, that the automatic stay under § ss. 362 of the Bankruptcy Code operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage, or any other rights that Mortgagee has, whether now or hereafter acquired, against any guarantor of the Debt. Mortgagor shall not seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to § ss. 105 of the Bankruptcy Code or any other provision therein to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage against any guarantor of the Debt. Any bankruptcy petition or other action taken by Mortgagor to stay, condition, or inhibit Mortgagee from exercising its remedies are hereby admitted by Mortgagor to be in bad faith and Mortgagor further admits that Mortgagee would have just cause for relief from the automatic stay in order to take such actions authorized under state law.

Bankruptcy Acknowledgment. If the Mortgaged Property or ------------------------- any portion thereof or any interest therein becomes property of any bankruptcy estate or subject to any state or federal insolvency proceeding, or in the event of the filing of any voluntary or involuntary petition under the Bankruptcy Code by or against Mortgagor Trustor then Mortgagee Beneficiary shall immediately become entitled, in addition to all other relief to which Mortgagee Beneficiary may be entitled under this MortgageDeed of Trust, to obtain (i) an order from any bankruptcy court or other appropriate court exercising jurisdiction over the bankruptcy case granting immediate relief from the automatic stay pursuant to § ss. 362 of the Bankruptcy Code so as to permit Mortgagee Beneficiary to pursue its rights and remedies against Mortgagor Trustor as provided under this Mortgage Deed of Trust and all other rights and remedies of Mortgagee Beneficiary at law and in equity under applicable state law, and (ii) an order from the Bankruptcy Court any bankruptcy court prohibiting Mortgagor’s Trustor's use of all “"cash collateral” " (as defined under § ss. 363 of the Bankruptcy Code). Mortgagor Trustor shall not assert or request any other party to assert, that the automatic stay under § ss. 362 of the Bankruptcy Code operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Mortgagee Beneficiary to enforce any rights it has by virtue of this MortgageDeed of Trust, or any other rights that Mortgagee Beneficiary has, whether now or hereafter acquired, against any guarantor of the Debt. Mortgagor Trustor shall not seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to § ss. 105 of the Bankruptcy Code or any other provision therein to stay, interdict, condition, reduce or inhibit the ability of Mortgagee Beneficiary to enforce any rights it has by virtue of this Mortgage Deed of Trust against any guarantor of the Debt. Any bankruptcy petition or other action taken by Mortgagor to stay, condition, or inhibit Mortgagee from exercising its remedies are hereby admitted by Mortgagor to be in bad faith and Mortgagor further admits that Mortgagee would have just cause for relief from the automatic stay in order to take such actions authorized under state law.

Bankruptcy Acknowledgment. If the Mortgaged Property or any portion thereof or any interest therein becomes property of any bankruptcy estate or subject to any state or federal insolvency proceeding, or in the event of the filing of any voluntary or involuntary petition under the Bankruptcy Code by or against Mortgagor then Mortgagee shall immediately become entitled, in addition to all other relief to which Mortgagee may be entitled under this Mortgage, to obtain (i) an order from any bankruptcy court or other appropriate court granting immediate relief from the automatic stay pursuant to § 362 of the Bankruptcy Code so as to permit Mortgagee to pursue its rights and remedies against Mortgagor as provided under this Mortgage and all other rights and remedies of Mortgagee at law and in equity under applicable state law, and (ii) an order from the Bankruptcy Court prohibiting Mortgagor’s use of all “cash collateral” as defined under § 363 of the Bankruptcy Code. Mortgagor shall not assert or request any other party to assert, that the automatic stay under § 362 of the Bankruptcy Code operate or be interpreted to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage, or any other rights that Mortgagee has, whether now or hereafter acquired, against any guarantor of the DebtLiabilities. Mortgagor shall not seek a supplemental stay or any other relief, whether injunctive or otherwise, pursuant to § 105 of the Bankruptcy Code or any other provision therein to stay, interdict, condition, reduce or inhibit the ability of Mortgagee to enforce any rights it has by virtue of this Mortgage against any guarantor of the DebtLiabilities. Any bankruptcy petition or other action taken by Mortgagor Xxxxxxxxx to stay, condition, or inhibit Mortgagee from exercising its remedies are hereby admitted by Mortgagor Xxxxxxxxx to be in bad faith and Mortgagor Xxxxxxxxx further admits that Mortgagee would have just cause for relief from the automatic stay in order to take such actions authorized under state law.