Common use of Bankruptcy Related Covenants Clause in Contracts

Bankruptcy Related Covenants. (a) To the extent permitted by applicable law and not inconsistent with Borrower’s discharge of compliance with its fiduciary duty, as advised by counsel, Borrower shall not, nor shall Borrower cause or permit any Significant Party, Sponsor or Affiliated Manager, or any Related Party (as defined in the Guaranty) of any Significant Party, Sponsor or Affiliated Manager, to, seek substantive consolidation in connection with a proceeding under the Bankruptcy Code or any other Creditors’ Rights Laws of any Loan Party (other than the substantive consolidation of an Affiliated Manager with any other Person which is not a Loan Party).