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

Consent to Relief from Automatic Stay. Each Loan Party ------------------------------------- hereby agrees that if (A) it shall (i) file with any bankruptcy court of competent jurisdiction or be the subject of any petition under Title 11 of the U.S. Code, as amended, (ii) be the subject of any order for relief issued under such Title 11 of the U.S. Code, as amended, (iii) 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, (iv) seek, consent to or acquiesce in the appointment of any trustee, receiver, conservator or liquidator, (v) a trustee, receiver, conservator or liquidator is appointed for such Loan Party or any substantial part of its assets, (vi) be the subject of any order, judgment or decree entered by any court of competent jurisdiction approving a petition filed against such Loan Party for 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 relief for debtors, then (B) the Collateral Agent and the Secured Parties shall thereupon be entitled to relief from any automatic stay imposed by Section 362 of Title 11 of the U.S. Code, as amended, or from any other stay or suspension of remedies resulting from any of the events listed in clauses (i) through (vi) above in this sentence, solely with respect to the exercise of the rights and remedies described in the preceding sentence (and not with respect to any other right or remedy). Each Loan Party acknowledges that the Collateral Agent and the Secured Parties are entitled to such relief as a result of good faith bargaining and as part of the consideration for the Secured Parties providing the Senior Debt.

Consent to Relief from Automatic Stay. Each Loan Party ------------------------------------- Borrower acknowledges and agrees that Lender’s forbearance and other accommodations have provided substantial benefits to Borrower and afforded Borrower time to rehabilitate its business and improve its prospects and cure the outstanding Defaults. Borrower hereby agrees that if (A) it shall (i1) file with any bankruptcy court of competent jurisdiction or be the subject of any petition under Title 11 of the U.S. Code as the same may be amended from time to time (the “Bankruptcy Code, as amended”), (ii2) be the subject of any order for relief issued under such Title 11 of the U.S. Bankruptcy Code, as amended, (iii3) 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, or other relief for debtorsdebtors (individually, an “Insolvency Proceeding” and, collectively, “Insolvency Proceedings”), (iv4) seek, consent to to, or acquiesce in the appointment of any trustee, receiver, conservator conservator, or liquidator, (v) a trustee, receiver, conservator or liquidator is appointed for such Loan Party or any substantial part of its assets, (vi5) be the subject of any order, judgment judgment, or decree entered by any court of competent jurisdiction approving a petition filed against such Loan Party for the Borrower in 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 relief for debtorsInsolvency Proceeding, then (B) the Collateral Agent and the Secured Parties Lender shall thereupon be entitled to relief from any automatic stay imposed by Section 362 of Title 11 of the U.S. Bankruptcy Code, as amended, or from any other stay or suspension of remedies resulting from imposed in any of the events listed in clauses (i) through (vi) above in this sentence, solely other manner with respect to the exercise of the rights and remedies described in otherwise available to the preceding sentence (and not with respect to Lender under the Master Agreement, the Note or any other right Loan Documents to realize upon the Collateral. Borrower hereby covenants and agrees not to assert any defense, oppose or remedy)otherwise contest any motion for relief from the automatic stay brought by or on behalf of Lender in connection with any Insolvency Proceeding. Each Loan Party Borrower acknowledges that the Collateral Agent agreements and the Secured Parties are entitled to such relief covenants set forth in this subparagraph (b) of this Section 14 served as a result of good faith bargaining material inducement for Lender’s willingness to forbear and as part of the consideration for the Secured Parties providing the Senior Debtenter into this Sixth Supplement.

Consent to Relief from Automatic Stay. Each Loan Party ------------------------------------- hereby agrees The Borrowers and Guarantors agree that if any of them shall: (A) it shall (ia) file with any bankruptcy court of competent jurisdiction or be the subject of any petition under Title 11 of the U.S. United States Code, as amended, (iib) be the subject of any order for relief issued under such Title 11 of the U.S. United States Code, as amended, (iiic) 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, or other relief for debtors, (ivd) seek, seek consent to or acquiesce in the appointment of any trustee, receiver, conservator conservator, or liquidator, (v) a trustee, receiver, conservator or liquidator is appointed for such Loan Party or any substantial part of its assets, (vie) be the subject of any order, judgment or decree entered by any court of competent jurisdiction approving a petition filed against such Loan Party him, her or it for any reorganization, arrangement, composition, readjustment, liquidation, dissolution disillusionment, or similar relief under any present or future federal or state act or law relating to bankruptcybankruptcy and insolvency, insolvency or relief for debtors, then (B) the Collateral Administrative Agent and the Secured Parties and/or Lenders shall thereupon thereupon, subject to court approval, be entitled to relief from any automatic stay imposed by Section 362 of Title 11 of the U.S. United States Code, as amended, or from any other stay or suspension of remedies resulting from imposed in any of the events listed in clauses (i) through (vi) above in this sentence, solely other manner with respect to the exercise of the rights and remedies described otherwise available to the Administrative Agent and Lenders under the terms of this Agreement and the Loan Documents, and the Borrowers and Guarantors shall consent to, and otherwise not oppose, any such relief sought by the Administrative Agent or Lenders. The Administrative Agent’s and/or the Lenders’ enforcement of this consent to relief from stay shall be effective only to the extent that it does not result, as of the Effective Date, in a breach of any fiduciary duty owed by the preceding sentence (and not with respect directors or officers of any Borrower or Guarantor as determined solely in response to any other right or remedy). Each Loan Party acknowledges that the Collateral Agent and the Secured Parties are entitled to such relief as inquiry raised by contesting third parties at a result of good faith bargaining and as part of the consideration for the Secured Parties providing the Senior Debtlater date.

Consent to Relief from Automatic Stay. Each Loan Party ------------------------------------- Borrower acknowledges and agrees that Lender’s forbearance and other accommodations have provided substantial benefits to Borrower and afforded Borrower time to rehabilitate its business and improve its prospects and cure the outstanding Defaults. Borrower hereby agrees that if (A) it shall (i1) file with any bankruptcy court of competent jurisdiction or be the subject of any petition under Title 11 of the U.S. Code as the same may be amended from time to time (the “Bankruptcy Code, as amended”), (ii2) be the subject of any order for relief issued under such Title 11 of the U.S. Bankruptcy Code, as amended, (iii3) 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, or other relief for debtorsdebtors (individually, an “Insolvency Proceeding” and, collectively, “Insolvency Proceedings”), (iv4) seek, consent to to, or acquiesce in the appointment of any trustee, receiver, conservator conservator, or liquidator, (v) a trustee, receiver, conservator or liquidator is appointed for such Loan Party or any substantial part of its assets, (vi5) be the subject of any order, judgment judgment, or decree entered by any court of competent jurisdiction approving a petition filed against such Loan Party for the Borrower in 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 relief for debtorsInsolvency Proceeding, then (B) the Collateral Agent and the Secured Parties Lender shall thereupon be entitled to relief from any automatic stay imposed by Section 362 of Title 11 of the U.S. Bankruptcy Code, as amended, or from any other stay or suspension of remedies resulting from imposed in any of the events listed in clauses (i) through (vi) above in this sentence, solely other manner with respect to the exercise of the rights and remedies described in otherwise available to the preceding sentence (and not with respect to Lender under the Master Agreement, the Note or any other right Loan Documents to realize upon the Collateral. Borrower hereby covenants and agrees not to assert any defense, oppose or remedy)otherwise contest any motion for relief from the automatic stay brought by or on behalf of Lender in connection with any Insolvency Proceeding. Each Loan Party Borrower acknowledges that the Collateral Agent agreements and the Secured Parties are entitled to such relief covenants set forth in this subparagraph (b) of this Section 14 served as a result of good faith bargaining material inducement for Lender’s willingness to forbear and as part of the consideration for the Secured Parties providing the Senior Debtenter into this Seventh Supplement.

Consent to Relief from Automatic Stay. Each Loan Party ------------------------------------- Borrower hereby agrees that if that, in consideration of the recitals and covenants contained herein, and for other good and valuable consideration, in the event either Borrower (Aby its own action, or the action of any of its creditors) it shall shall, on or before the Satisfaction Date, (i1) file with any bankruptcy court of competent jurisdiction or be the subject of any petition for relief under Title 11 of the U.S. United States Code, as amended, (ii2) be the subject of any order for relief issued under such Title 11 of the U.S. United States Code, as amended, (iii3) 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, or other relief for debtors, (iv4) seek, consent have sought or consented to or acquiesce acquiesced in the appointment of any trustee, receiver, conservator conservator, or liquidator, or (v) a trustee, receiver, conservator or liquidator is appointed for such Loan Party or any substantial part of its assets, (vi5) be the subject of any order, judgment judgment, or decree entered by any court of competent jurisdiction jurisdiction, approving a petition filed against such Loan Party party for 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 relief for debtors, then (B) the Collateral Agent and the Secured Parties Simplot shall thereupon be entitled to relief from any automatic stay imposed by Section 362 of Title 11 of the U.S. United States Code, as amended, or from any other stay otherwise, on or suspension of remedies resulting from any of the events listed in clauses (i) through (vi) above in this sentence, solely with respect to against the exercise of the rights and remedies described otherwise available to Simplot as provided in the preceding sentence (Loan Documents, and not with respect as otherwise provided by law, and each Borrower hereby waives the benefits of such automatic stay and consents and agrees to any other right or remedy). Each Loan Party acknowledges that the Collateral Agent and the Secured Parties are entitled raise no objection to such relief as a result of good faith bargaining and as part of the consideration for the Secured Parties providing the Senior Debtrelief.