Common use of Continuing Enforceability Clause in Contracts

Continuing Enforceability. 15.1. The parties acknowledge and agree that the purpose of this Agreement and the mandatory certification of the Settlement Class with respect to Liggxxx xxx its Present Affiliates is to provide the Settlement Class with certain equitable and other relief, and a secure and ongoing source of recovery, subject to equitable allocation and distribution, while ensuring that Liggxxx xxx make its payments hereunder without risking bankruptcy or other insolvency; this Agreement is intended to be a mutually beneficial and equitable alternative to the prospect of bankruptcy. 15.2. Unless earlier terminated, as to the Settlement Class, this Agreement and each provision of or obligation arising from this Agreement shall continue and remain fully executory and enforceable if a Settling Defendant institutes or is subject to the institution against it of any proceeding or voluntary case under title 11 of the United States Code, or other proceeding seeking to adjudicate it insolvent or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief or protection of debtors or other proceeding seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any part of its property (each, a "Bankruptcy Proceeding"). Brooke Group has the right but not the obligation to cure and to perform any and all obligations of Liggxxx xxxer this Agreement notwithstanding the occurrence and continuation of any Bankruptcy Proceeding with respect to Liggxxx; xxovided, however, that until such time as Liggxxx xxxides whether to reject or assume this Agreement, Brooke Group shall have the obligation to pay the annual installments as provided by Section 7 hereof and any and all rights the Settlement Class may have not to accept such cure or performance in any Bankruptcy Proceeding are waived.

Continuing Enforceability. 15.112.1. The parties acknowledge and agree that the a primary purpose of this Agreement and the mandatory certification of the Settlement Class with respect to Liggxxx xxx its Present Affiliates is to provide the Settlement Class with certain equitable and other relief, relief made available by Settling Defendants and a secure and ongoing source their current Boards of recovery, subject to equitable allocation and distributionDirectors, while ensuring that Liggxxx xxx perform its obligations and make its payments hereunder hereunder, if any, without unduly risking insolvency, bankruptcy or other insolvencyliquidation; this Agreement is intended to be a mutually beneficial and equitable alternative to the prospect of bankruptcy. 15.212.2. Unless earlier terminated, as to the Settlement Class, this Agreement and each provision of or obligation arising from this Agreement shall continue and remain fully executory and enforceable if a Settling Defendant institutes or is subject to the institution against it of any proceeding or voluntary case under title 11 of the United States Code, or other proceeding seeking to adjudicate it insolvent or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief or protection of debtors or other proceeding seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any part of its property (each, a "Bankruptcy Proceeding"). Brooke Group has the right but not the obligation to cure and to perform any and all obligations of Liggxxx xxxer Liggxxx'x xxxetary obligations, if any, under this Agreement (calculated as if Liggxxx xxxe meeting such monetary obligations) notwithstanding the occurrence and continuation of any Bankruptcy Proceeding with respect to Liggxxx; xxovided, however, . Xxe Class agrees that until such time as Liggxxx xxxides whether it has no right to reject or assume terminate this Agreement, to call a default under this Agreement, or to compel Liggxxx xx take or not to take any action with respect to this Agreement during any period in which Brooke Group shall have the obligation to pay the annual installments as provided by Section 7 hereof and any and all rights the Settlement Class may have not to accept such cure or performance in any Bankruptcy Proceeding are waivedis performing Liggxxx'x xxxt-bankruptcy proceeding monetary obligations hereunder.

Continuing Enforceability. 15.114.1. The parties acknowledge and agree that the purpose of this Agreement and the mandatory certification of the Settlement Class with respect to Liggxxx xxx its Present Affiliates is to provide the Settlement Class with certain equitable and other reliefrelief made available by Settling Defendants and their current Boards of Directors, and a secure and ongoing source of recovery, subject to equitable allocation and distribution, while ensuring that Liggxxx xxx perform its obligations and make its payments hereunder without unduly risking insolvency, bankruptcy or other insolvencyliquidation; this Agreement is intended to be a mutually beneficial and equitable alternative to the prospect of bankruptcy. 15.214.2. Unless earlier terminated, as to the Settlement Class, this Agreement and each provision of or obligation arising from this Agreement shall continue and remain fully executory and enforceable if a Settling Defendant institutes or is subject to the institution against it of any proceeding or voluntary case under title 11 of the United States Code, or other proceeding seeking to adjudicate it insolvent or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief or protection of debtors or other proceeding seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any part of its property (each, a "Bankruptcy Proceeding"). Brooke Group has the right but not the obligation to cure and to perform any and all of Liggxxx'x xxxetary obligations of Liggxxx xxxer under this Agreement (calculated as if Liggxxx xxxe meeting such monetary obligations) notwithstanding the occurrence and continuation of any Bankruptcy Proceeding with respect to Liggxxx; xxovided, however, . Xxe Settlement Class agrees that until such time as Liggxxx xxxides whether it has no right to reject or assume terminate this Agreement, to call a default under this Agreement, or to compel Liggxxx xx take or not to take any action with respect to this Agreement during any period in which Brooke Group shall have the obligation to pay the annual installments as provided by Section 7 hereof and any and all rights the Settlement Class may have not to accept such cure or performance in any Bankruptcy Proceeding are waivedis performing Liggxxx'x xxxt-bankruptcy proceeding monetary obligations hereunder.

Continuing Enforceability. 15.114.1. The parties acknowledge and agree that the purpose of this Agreement and the mandatory certification of the Settlement Class with respect to Liggxxx xxx its Present Affiliates is to provide the Settlement Class with certain equitable and other relief, and a secure and ongoing source of recovery, subject to equitable allocation and distribution, while ensuring that Liggxxx xxx make its payments hereunder without risking bankruptcy or other insolvency; this Agreement is intended to be a mutually beneficial and equitable alternative to the prospect of bankruptcy. 15.214.2. Unless earlier terminated, as to the Settlement Class, this Agreement and each provision of or obligation arising from this Agreement shall continue and remain fully executory and enforceable if a Settling Defendant institutes or is subject to the institution against it of any proceeding or voluntary case under title 11 of the United UnIted States Code, or other proceeding seeking to adjudicate it insolvent or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief or protection of debtors or other proceeding seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any part of its property (each, a "Bankruptcy Proceeding"). Brooke Group has the right but not the obligation to cure and to perform any and all obligations of Liggxxx xxxer this Agreement notwithstanding the occurrence and continuation of any Bankruptcy Proceeding with respect to Liggxxx; xxovided, however, that until such time as Liggxxx xxxides whether to reject or assume this Agreement, Brooke Group shall have the obligation to pay the annual installments as provided by Section 7 hereof and any and all rights the Settlement Class may have not to accept such cure or performance in any Bankruptcy Proceeding are waived.