Debtor Relief Law Clause Samples
A Debtor Relief Law clause defines how the contract will be affected if laws are enacted that provide relief or protection to debtors, such as bankruptcy or insolvency statutes. Typically, this clause states that the parties' obligations under the agreement will not be diminished or altered by such laws, ensuring that the creditor's rights remain enforceable even if the debtor seeks legal protection. Its core function is to protect the creditor from losing contractual rights or remedies due to changes in debtor protection laws, thereby allocating risk and maintaining the enforceability of the agreement.
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Debtor Relief Law. The Bankruptcy Code of the United States of America, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect. Default. See §12.1.
Debtor Relief Law. Debtor Relief Law" shall have the meaning set forth in Section 11.2.1
Debtor Relief Law appointment of a receiver, receiver manager or receiver and manager of any part of the property of the Debtor or commencement of any proceeding under any bankruptcy, arrangement, reorganization, dissolution, liquidation, insolvency or similar law for the relief of or otherwise affecting creditors of the Debtor which appointment continues undischarged or unstayed for 60 calendar days; or
Debtor Relief Law the Bankruptcy Code of the United States, the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada), the Winding-Up and Restructuring Act (Canada), in each case as amended, and any other applicable state, provincial, territorial or federal bankruptcy laws and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States, Canada or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally, including any corporate law of any jurisdiction permitting a debtor to obtain a stay or a compromise of the claims of its creditors against it and including any rules and regulations pursuant thereto.
Debtor Relief Law the Bankruptcy Code of the United States, the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada), and the Winding‑Up and Restructuring Act (Canada), in each case as amended, and any other applicable state, provincial, territorial or federal bankruptcy laws and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States, Canada or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally, including any corporate law of any jurisdiction permitting a debtor to obtain a stay or a compromise of the claims of its creditors against it and including any rules and regulations pursuant thereto. Default: any condition or event which, with notice or lapse of time or both, would become an Event of Default.