Common use of Consent to Relief from Automatic Stay Clause in Contracts

Consent to Relief from Automatic Stay. The Company agrees that if it shall (a) file with any bankruptcy court of competent jurisdiction or be the subject of any petition under Title 11 of the United States Code, as amended, (b) be the subject of any order for relief issued under such Title 11 of the United States Code, as amended, (c) file or be the subject of any petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency or other relief for debtors, (d) seek consent to or acquiesce in the appointment of any trustee, receiver, conservator or liquidator, (e) be the subject of any order, judgment or decree entered by any court of competent jurisdiction approving a petition filed against it for any reorganization, arrangement, composition, readjustment, liquidation, disillusionment or similar relief under any present or future federal or state act or law relating to bankruptcy and insolvency, or relief for debtors, the Bank shall thereupon be entitled to relief from any automatic stay imposed by Section 362 of Title 11 of the United States Code, as amended, or from any other stay or suspension of remedies imposed in any other manner with respect to the exercise of the rights and remedies otherwise available to the Bank under the terms of this Agreement and the Loan Documents, and the Company shall consent to any such relief sought by the Bank. The Company agrees that upon the occurrence of a Default, the Bank shall be entitled to appointment of a receiver for the Collateral on an ex parte basis, without notice to the Company, and without regard to the value of the Collateral.

Consent to Relief from Automatic Stay. The Company Each Borrower and Guarantor hereby agrees that if it any such party, individually or jointly, shall (ai) file with any bankruptcy court of competent jurisdiction or be the subject of any petition under Title 11 of the United States Code, as amended, (bii) be the subject of any order for relief issued under such Title 11 of the United States U.S. Code, as amended, (ciii) file or be the subject of any petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency insolvency, or other relief for debtors, (div) seek consent to or acquiesce in the appointment of any trustee, receiver, conservator conservator, or liquidator, (ev) be the subject of any order, judgment or decree entered by any court of competent jurisdiction approving a petition filed against it any Borrower or Guarantor for any reorganization, arrangement, composition, readjustment, liquidation, disillusionment dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy and insolvency, or relief for debtors, the Bank Lender shall thereupon be entitled to relief from any automatic stay imposed by Section 362 of Title 11 of the United States Code, as amended, or from any other stay or suspension of remedies imposed in any other manner with respect to the exercise of the rights and remedies otherwise available to the Bank Lender under the terms of this Agreement and the Notes and the Loan Documents, and the Company shall consent to any such relief sought by the Bank. The Company Each Borrower agrees that upon the occurrence of a Default, the Bank Forbearance Default hereunder Lender shall be entitled to appointment of a receiver for the Collateral on an ex parte basis, without notice to the Company, and without regard to the value of the any Collateral.

Consent to Relief from Automatic Stay. The Company Each Loan Party hereby agrees that if it any such party, individually or jointly, shall (ai) file with any bankruptcy court of competent jurisdiction or be the subject of any petition under Title 11 of the United States Bankruptcy Code, as amended, (bii) be the subject of any order for relief issued under such Title 11 of the United States Bankruptcy Code, as amended, (ciii) file or be the subject of any petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency insolvency, or other relief for debtors, (div) seek consent to or acquiesce in the appointment of any trustee, receiver, conservator conservator, or liquidator, (ev) be the subject of any order, judgment or decree entered by any court of competent jurisdiction approving a petition filed against it any Loan Party for any reorganization, arrangement, composition, readjustment, liquidation, disillusionment dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy and insolvency, or relief for debtors, the Bank Lender shall thereupon be entitled to relief from any automatic stay imposed by Section 362 of Title 11 of the United States Bankruptcy Code, as amended, or from any other stay or suspension of remedies imposed in any other manner with respect to the exercise of the rights and remedies otherwise available to the Bank Lender under the terms of this Agreement and the Notes and the Loan Documents, and the Company shall consent to any such relief sought by the Bank. The Company Each Loan Party agrees that upon the occurrence of a Default, the Bank Forbearance Default hereunder Lender shall be entitled to appointment of a receiver for the Collateral on an ex parte basis, without notice to the Company, and without regard to the value of the any Collateral.

Consent to Relief from Automatic Stay. The Company Borrower hereby agrees that if during the Forbearance Period it shall (ai) file with any bankruptcy court of competent jurisdiction or be the subject of any petition under Title 11 of the United States U.S. Code, as amended, (b) be the subject of any order for relief issued under such Title 11 of the United States Code, as amended, (ciii) file or be the subject of any petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency insolvency, or other relief for debtors, (div) seek seek, consent to or acquiesce in the appointment of any trustee, receiver, conservator or liquidatorliquidation, (ev) be the subject of any order, judgment or decree entered by any court of competent jurisdiction approving a petition filed against it Borrower for any reorganization, arrangement, composition, readjustment, liquidation, disillusionment dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy and bankruptcy, insolvency, or relief for debtorsdebtors without providing Lender 24 hours advance written notice thereof (excluding involuntary actions or proceedings against the Borrower which are not in the control of the Borrower), the Bank Lender shall thereupon be entitled to relief from any automatic stay imposed by Section 362 of Title 11 of the United States U.S. Code, as amended, or from any other stay or suspension of remedies imposed in any other manner with respect to the exercise of the rights and remedies otherwise available to the Bank Lender under the terms of this Security Agreement and the Loan Documents, and the Company shall consent to any such relief sought by the Bank. The Company agrees that upon the occurrence of a Default, the Bank shall be entitled to appointment of a receiver for the Collateral on an ex parte basis, without notice to the Company, and without regard to the value of the CollateralRelated Documents.

Consent to Relief from Automatic Stay. The Company Borrower hereby agrees that if during the Forbearance Period it shall (ai) file with any bankruptcy court of competent jurisdiction or be the subject of any petition under Title 11 of the United States U.S. Code, as amended, (b) be the subject of any order for relief issued under such Title 11 of the United States Code, as amended, (ciii) file or be the subject of any petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency insolvency, or other relief for debtors, (div) seek seek, consent to or acquiesce in the appointment of any trustee, receiver, conservator or liquidatorliquidation, (ev) be the subject of any order, judgment or decree entered by any court of competent jurisdiction approving a petition filed against it Borrower for any reorganization, arrangement, composition, readjustment, liquidation, disillusionment dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy and bankruptcy, insolvency, or relief for debtors, the Bank . Lender shall thereupon be entitled to relief from any automatic stay imposed by Section 362 of Title 11 of the United States U.S. Code, as amended, or from any other stay or suspension of remedies imposed in any other manner with respect to the exercise of the rights and remedies otherwise available to the Bank Lender under the terms of this Security Agreement and the Loan Documents, and the Company shall consent to any such relief sought by the Bank. The Company agrees that upon the occurrence of a Default, the Bank shall be entitled to appointment of a receiver for the Collateral on an ex parte basis, without notice to the Company, and without regard to the value of the CollateralRelated Documents.