Bankruptcy Action. General Partner agrees not to take any Bankruptcy Action with respect to Borrower without each Lender’s consent.
Bankruptcy Action. Each of the Depositor, the Board of Managers, the Owners and the Owner Trustee hereby covenants that for so long as any Secured Obligations remain outstanding and the lien of the Loan Agreement has not been released, it shall not instruct or authorize the Trust to take any Bankruptcy Action with respect to the Trust or to take any action that might cause the Trust to become insolvent.
Bankruptcy Action. The Junior Creditors shall not, at any time, take any Bankruptcy Action in respect of the Junior Debt.
Bankruptcy Action. Guarantor agrees to repay all monies, including but not limited to reasonable attorneys’ fees, paid by Lender in defense of any action asserted against Lender by the Borrower, as a debtor-in-possession, or by a trustee in bankruptcy in a proceeding brought under 11 U.S.C. Section 547 of the United States Bankruptcy Code for the recovery of monies received by Lender from the Borrower as a result of Guarantor’s obligations hereunder. Guarantor further agrees to repay any monies paid by Lender in settlement of any such action or in satisfaction of any judgment rendered against Lender in such an action.
Bankruptcy Action. As a material inducement to the agreements of City and CRA in this Agreement, Subtenant hereby stipulates and agrees that if Subtenant becomes a party in any bankruptcy or insolvency proceeding, then City will be entitled to immediate relief from the automatic stay granted under the Bankruptcy Code in order to enforce its rights to possession of the Premises and Operational Property.
Bankruptcy Action. (a) Sellers shall comply in all material respects with all of the obligations of Sellers under the Bid Procedures Order and the Sale Order.
(b) Sellers shall use commercially reasonable efforts to comply (or obtain an Order from the Bankruptcy Court waiving compliance) with all requirements under the Bankruptcy Code and the Bankruptcy Rules in connection with obtaining approval of the Transactions.
(c) Sellers shall seek entry of the Sale Order in the form attached hereto as Exhibit D.
Bankruptcy Action. 2 1.5 Certificate................................................................................. 3 1.6
Bankruptcy Action. (a) This Agreement shall be subject to the consideration of higher or better offers submitted at an auction (the “Auction”) to be conducted in the Bankruptcy Case in accordance with sale procedures set forth in the Sale Procedure Motion attached as Exhibit B, which Seller and Parent shall promptly submit to the Bankruptcy Court for approval upon commencement of the Bankruptcy Case. Any competing offer (a “Competing Offer”) must be submitted to Seller, in writing, in accordance with the sale procedures set forth in the Sale Procedure Motion. No Competing Offer shall qualify as a bid at the Auction unless, among other things, any requested changes in the terms and conditions from those contained in this Agreement shall have been approved by Seller in writing prior to the Auction.
(b) Purchaser hereby confirms an Approval Order containing the provisions annexed hereto as Exhibit A is acceptable to Purchaser. Seller and Parent shall use all reasonable efforts to obtain entry of the Sale Procedures Order and the Approval Order and approval of the Expense Reimbursement and Break-Up Fee.
(c) Seller and Parent shall give appropriate notice, and provide appropriate opportunity for hearing, to all parties entitled thereto, of all motions, orders, hearings or other proceedings relating to this Agreement or the transactions contemplated thereby.
Bankruptcy Action. For so long as the Loan remains outstanding and not discharged in full, notwithstanding any other provision of this Agreement, the Partnership shall not take any Bankruptcy Action (as hereinafter defined) without the prior unanimous written consent of its General Partner and the sole member of the SPE Component Entity (as hereinafter defined), including the Independent Director (as hereinafter defined). As used herein, “Bankruptcy Action” means the taking of any action to: consolidate or merge the Partnership with or into any Person, or sell all or substantially all of the assets of the Partnership, or to institute proceedings to have the Partnership be adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Partnership or file a petition seeking, or consent to, reorganization or relief with respect to the Partnership under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Partnership or a substantial part of its property, or make any assignment for the benefit of creditors of the Partnership, or admit in writing the Partnership’s inability to pay its debts generally as they become due, or take action in furtherance of any such action, or, to the fullest extent permitted by law, dissolve or liquidate the Partnership.
Bankruptcy Action. The Guarantor agrees to repay all monies, including but not limited to attorneys' fees, paid by Ocwen in defense of any action asserted against Ocwen by the Borrower, as debtors-in-possession, or by a trustee in bankruptcy in a proceeding brought under 11 U.S.C. Section 547 of the United States Bankruptcy Code for the recovery of monies received by Ocwen from the Borrower. The Guarantor further agrees to repay any monies paid by Ocwen in settlement of any such action or in satisfaction of any judgment rendered against Ocwen in such an action.
