Bankruptcy of Borrower. In any bankruptcy or other proceeding in which the filing of claims is required by law, Guarantor shall file all claims which Guarantor may have against Borrower relating to any indebtedness of Borrower to Guarantor and shall assign to Lender all rights of Guarantor thereunder. If Guarantor does not file any such claim, Lender, as attorney-in-fact for Guarantor, is hereby authorized to do so in the name of Guarantor or, in Lender’s discretion, to assign the claim to a nominee and to cause proof of claim to be filed in the name of Lender’s nominee. The foregoing power of attorney is coupled with an interest and cannot be revoked. Lender or its nominee shall have the right, in its reasonable discretion, to accept or reject any plan proposed in such proceeding and to take any other action which a party filing a claim is entitled to do. In all such cases, whether in administration, bankruptcy or otherwise, the person or persons authorized to pay such claim shall pay to Lender the amount payable on such claim and, to the full extent necessary for that purpose, Guarantor hereby assigns to Lender all of Guarantor’s rights to any such payments or distributions; provided, however, Guarantor’s obligations hereunder shall not be satisfied except to the extent that Lender receives cash by reason of any such payment or distribution. If Lender receives anything hereunder other than cash, the same shall be held as collateral for amounts due under this Guaranty. If all or any portion of the obligations guaranteed hereunder are paid or performed, the obligations of Guarantor hereunder shall continue and shall remain in full force and effect in the event that all or any part of such payment or performance is avoided or recovered directly or indirectly from Lender as a preference, fraudulent transfer or otherwise under the Bankruptcy Code or other similar laws, irrespective of (a) any notice of revocation given by Guarantor prior to such avoidance or recovery, or (b) full payment and performance of all of the indebtedness and obligations evidenced and secured by the Loan Documents.
Bankruptcy of Borrower. Notwithstanding any modification, discharge or extension of the Obligations or any amendment, modification, stay or cure of the Lender’s rights which may occur in any bankruptcy or reorganization case or proceeding concerning the Borrower, whether permanent or temporary, and whether assented to by the Lender, the Guarantor hereby agrees that it shall be obligated hereunder to pay and perform the Obligations and discharge its other obligations in accordance with the terms of the Obligations and the terms of this Guaranty in effect on the date hereof. The Guarantor understands and acknowledges that by virtue of this Guaranty, it has specifically assumed any and all risks of a bankruptcy or reorganization case or proceeding with respect to the Borrower. As an example and not in any way of limitation, a subsequent modification of the Obligations in any reorganization case concerning the Borrower shall not affect the obligation of the Guarantor to pay and perform the Obligations in accordance with their original terms.
Bankruptcy of Borrower. In the event of a bankruptcy by the Borrower, the Lenders shall act through Administrative Agent to petition the court, make any motion for relief from the automatic stay, participate in any appropriate creditors' committee, vote on a plan of reorganization or pursue other remedies or actions in accordance with the approval of the Requisite Lenders.
Bankruptcy of Borrower. Guarantor expressly agrees that Guarantor’s liability and obligations under this Guaranty will not in any way be affected by the institution by or against Borrower or any other person or entity of any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or any other similar proceedings for relief under any bankruptcy law or similar law for the relief of debtors and that any discharge of any of the Guaranteed Obligations pursuant to any such bankruptcy or similar law or other law will not discharge or otherwise affect in any way the liabilities and obligations of Guarantor under this Guaranty, and that upon the institution of any of the above actions, at the sole discretion of Lender, such liabilities and obligations will be enforceable against Guarantor.
Bankruptcy of Borrower. Notwithstanding any modification, discharge or extension of the Guaranteed Liabilities, the Note or the other Obligations, the termination or modification of the Note or any of the Loan Documents as a result of the rejection or disaffirmance thereof by any trustee, receiver, liquidator, agent or other representative of Borrower or any amendment, modification, stay or cure of Lender’s rights which may occur in any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar case or proceeding concerning Borrower whether permanent or temporary, and whether assented to by Lender, Guarantor hereby agrees that it shall be obligated hereunder to pay and perform the Guaranteed Liabilities and discharge its other obligations in accordance with the terms of the Guaranteed Liabilities and the terms of this Guaranty in effect on the date hereof. Guarantor understands and acknowledges that by virtue of this Guaranty, it has specifically assumed any and all risks of a bankruptcy or reorganization case or proceeding with respect to the Borrower. As an example and not in any way of limitation, a subsequent modification of the Obligations, the Note or the other Obligations, in any reorganization case concerning Borrower shall not affect the obligation of Guarantor to pay and perform the Guaranteed Liabilities in accordance with their original terms.
Bankruptcy of Borrower. Neither the Guarantor's Obligations under this Guaranty Agreement nor any remedy for the enforcement hereof shall be impaired, modified, changed, released or limited in any manner whatsoever by the bankruptcy of the Borrower or by any impairment, modification, change, release or limitation of (i) the liability of the Borrower under any of the Loan Documents, any party assuming the obligations of the Borrower under any of the Loan Documents or the Borrower's estate in bankruptcy, or (ii) any remedy for the enforcement of the Credit Agreement or any other Loan Document which results from the operation of any present or further provision of any bankruptcy act, state or Federal law, common law or equitable cause or from the decision of any court. The Guarantor agrees that to the extent that the Borrower or any other Person liable for all or any part of the Lender Indebtedness makes a payment or payments to the Lenders, which payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be paid to a trustee, receiver or any other party under any bankruptcy act, state or Federal law, common law or equitable cause, then to the extent of such payment the Guarantor's Obligations or part thereof intended to be satisfied shall be revived and continued in full force and effect as if said payment had not been made notwithstanding the termination of this Guaranty Agreement.
Bankruptcy of Borrower. In the event a bankruptcy or other insolvency proceeding is commenced by or against the Borrower or any Guarantor, Administrative Agent shall have the sole and exclusive right to file and pursue a joint proof of claim on behalf of the Lenders. Each Lender irrevocably waives its right to file or pursue a separate proof of claim in any such proceedings.
Bankruptcy of Borrower. Notwithstanding that the Guarantee may have been cancelled under paragraph 3, and/or returned to Guarantor, to the extent Borrower has made any payments to Lenders within the one (1) year period following the date this Guarantee was so cancelled, and Guarantor was obligated under this Guarantee for said payments, the liability of Guarantor hereunder shall at all times continue for the amounts so paid by Borrower to Lenders. If, for any reason (e.g. bankruptcy, or otherwise), Lenders are not permitted to retain the payments so made by Borrower during said one (1) year period, Guarantor shall be liable under this Guarantee for the amount of such payments as if this Guarantee had never been cancelled and Lenders shall be entitled to recover said amount so paid by Borrower within said one (1) year period. Anything in this Guarantee to the contrary notwithstanding, if at any time this Guarantee is to be cancelled under the provisions of paragraph 3, Lenders may retain this Guarantee for a period of one hundred twenty (120) days after the date said Guarantee is to be so cancelled and in the event no bankruptcy petition has been filed by or against Borrower for the one (1) year period following the date the Guarantee is to be cancelled, then, in that event, the Guarantee shall be returned to Guarantor. If, however, a bankruptcy petition has been filed by or against Borrower during the one (1) year period, and Borrower has made payments to Lenders during the one (1) year period, this Guarantee shall not be cancelled and/or returned to Guarantor unless and until a decision by a court of competent jurisdiction, or other agreement has been entered or reached, pursuant to which Lenders shall be entitled to retain all such monies paid during the one (1) year period. If, as set forth above, Lenders are obligated to return to Borrower any monies so paid during the one (1) year period, this Guarantee shall not be cancelled (notwithstanding it being marked "Cancelled" and returned to Guarantor) and Guarantor shall continue to be liable to Lenders for all monies paid during the one (1) year period. If Lenders shall have marked this Guarantee "Cancelled" and/or returned this Guarantee to Guarantor, and under the provisions of this paragraph 4 or paragraph 3, Guarantor has continuing liability to Lenders for certain amounts which Lenders have or are obligated to return to Borrower, then, in such case, Lenders may enforce their rights under this Guarantee upon any copy of this...
Bankruptcy of Borrower. The Borrower shall fail to pay its debts as they become due, or shall make an assignment for the benefit of its creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file a petition under any chapter of the Federal Bankruptcy Code or any similar law, state or federal, now or hereafter existing, or shall become “insolvent” as that term is generally defined under the Federal Bankruptcy Code, or shall in any involuntary bankruptcy case commenced against it file an answer admitting insolvency or inability to pay its debts as they become due, or shall fail to obtain a dismissal of such case within one hundred twenty (120) days after its commencement or convert the case from one chapter of the Federal Bankruptcy Code to another chapter, or be the subject of an order for relief in such bankruptcy case, or be adjudged a bankrupt or insolvent, or shall have a custodian, trustee or receiver appointed for, or have any court take jurisdiction of its property, or any part thereof, in any voluntary proceeding for the purpose of reorganization, arrangement, dissolution or liquidation and such custodian, trustee or receiver shall not be discharged, or such jurisdiction shall not be relinquished, vacated or stayed within one hundred twenty (120) days of the appointment; or
Bankruptcy of Borrower. Borrower shall (i) apply for, consent to or suffer the appointment of, or the taking of possession by, a receiver, custodian, trustee, liquidator or similar fiduciary of itself or of all or a substantial part of its property, (ii) make a general assignment for the benefit of creditors, (iii) commence a voluntary case under any state or Federal bankruptcy laws (as now or hereafter in effect), (iv) be adjudicated a bankrupt or insolvent, (v) file a petition seeking to take advantage of any other law providing for the relief of debtors, (vi) acquiesce to, or fail to have dismissed, within thirty (30) days, any petition filed against it in any involuntary case under such bankruptcy laws, or (vii) take any action for the purpose of effecting any of the foregoing;
