Common use of Bankruptcy or Reorganization of Tenant Clause in Contracts

Bankruptcy or Reorganization of Tenant. In the event of any proceeding by or against Tenant, a composition, extension or reorganization under any provision of the Bankruptcy Code, or any other bankruptcy, insolvency, receivership, reorganization or similar proceeding, Guarantor expressly waives the extension of the Obligations of this Guaranty under any provision of the Bankruptcy Code or any law or rule applicable to such proceedings and hereby agrees that Landlord may proceed immediately to collect any amount due under the terms of this Guaranty and to otherwise enforce this Guaranty.

Bankruptcy or Reorganization of Tenant. In the event of any proceeding by or against Tenant, a composition, extension or reorganization under any provision of the Bankruptcy Code, or any other bankruptcy, insolvency, receivership, reorganization or similar proceeding, Guarantor expressly waives the extension of the Obligations obligations of this Guaranty under any provision of the Bankruptcy Code or any law taw or rule applicable to such proceedings and hereby agrees that Landlord may proceed immediately to collect any amount due under the terms tarns of this Guaranty and to otherwise enforce this Guaranty.