Common use of Cancellation of Indebtedness Owed to It Clause in Contracts

Cancellation of Indebtedness Owed to It. No Loan Party shall cancel, or permit any of its Subsidiaries to cancel, any claim or Indebtedness owed to it except for adequate consideration and in the ordinary course of business, except to the extent that such cancellation occurs in connection with the consummation of a plan of reorganization or liquidation of the obligor under such Indebtedness and such cancellation would not have a Material Adverse Effect.

Cancellation of Indebtedness Owed to It. No Loan Party shall The Borrower will not cancel, or and will not permit any of its Subsidiaries to cancel, any claim or Indebtedness owed to it except for (i) adequate consideration and in the ordinary course of business, except to business or (ii) the extent that such exchange or cancellation occurs in connection with the consummation of intercompany indebtedness of a plan of reorganization or liquidation of the obligor under such Indebtedness and such cancellation would not have a Material Adverse EffectLoan Party owing to another Loan Party.