FILING OF PRE-PACKAGED BANKRUPTCY Sample Clauses

FILING OF PRE-PACKAGED BANKRUPTCY. (a) As soon as practicable following the First Measurement Date, the Partnership shall file (the "BANKRUPTCY FILING") a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the "BANKRUPTCY CODE") with the United States Bankruptcy Court for the Southern District of New York (the "BANKRUPTCY COURT") commencing a chapter 11 case (the "BANKRUPTCY PROCEEDING") and seeking the Bankruptcy Court's approval, pursuant to a pre-packaged chapter 11 plan, of the transactions contemplated by this Agreement, a draft of which is in the form annexed hereto as EXHIBIT 14.2(a) (the "PLAN"). Subject to the Fiduciary Obligations, the Partnership, Astor and Equitable shall support the Plan and seek the confirmation and consummation thereof. The Partnership may amend the Plan at any time after the Execution Date, however, (x) the Partnership shall deliver copies of any such amended Plan to Investor prior to submitting same to the Bankruptcy Court and (y) any material changes thereto shall be subject to the prior approval of Investor, which approval shall not be unreasonably withheld or conditioned (and shall be deemed granted if not denied within three (3) business days following request therefor); PROVIDED, HOWEVER, such consent may be withheld in Investor's sole discretion if such amendment to the Plan shall materially and adversely affect Investor's rights or obligations under this Agreement. The confirmation order of the Bankruptcy Court approving the Plan shall be referred to herein as the "CONFIRMATION ORDER." (b) Concurrently with the Bankruptcy Filing, the Partnership shall file with the Bankruptcy Court the Plan, the Disclosure Statement and all other documents contemplated to be attached to the Disclosure Statement (collectively, the "PLAN DOCUMENTS") on substantially the terms and conditions set forth herein, it being agreed that all submissions to the Bankruptcy Court (including, without limitation, all Plan Documents) shall be subject to (A) the approval of Equitable in all respects and (B) to the extent materially inconsistent with the Plan or this Agreement, the approval of Investor, which approval shall not be unreasonably withheld or conditioned (and shall be deemed granted if not denied within three (3) business days following request therefor); PROVIDED, HOWEVER, such consent may be withheld in Investor's sole discretion 68 if the Plan Documents to be submitted shall materially and adversely affect Investor's rights or obligati...
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Related to FILING OF PRE-PACKAGED BANKRUPTCY

  • No Bankruptcy Filing The Borrower is not contemplating either the filing of a petition by it under any state or federal bankruptcy or insolvency laws of any jurisdiction or the liquidation of all or a major portion of its assets or property, and it has no knowledge of any Person contemplating the filing of any such petition against it.

  • Action if Bankruptcy If any Event of Default described in clauses (i) through (iv) of Section 9.1(h) with respect to the Borrower shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of the Loans and all other Obligations shall automatically be and become immediately due and payable, without notice or demand to any Person.

  • No Bankruptcy Proceedings No Person shall have commenced a proceeding against the Company pursuant to or within the meaning of any Bankruptcy Law. The Company shall not have, pursuant to or within the meaning of any Bankruptcy Law, (a) commenced a voluntary case, (b) consented to the entry of an order for relief against it in an involuntary case, (c) consented to the appointment of a Custodian of the Company or for all or substantially all of its property, or (d) made a general assignment for the benefit of its creditors. A court of competent jurisdiction shall not have entered an order or decree under any Bankruptcy Law that (I) is for relief against the Company in an involuntary case, (II) appoints a Custodian of the Company or for all or substantially all of its property, or (III) orders the liquidation of the Company or any of its Subsidiaries.

  • Bankruptcy Proceedings The commencement of any proceedings by or against Guarantor under any applicable bankruptcy, reorganization, liquidation, insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, trustee or other similar official is sought to be appointed for it;

  • Notice of Dissolution In the event a Liquidating Event occurs or an event occurs that would, but for the provisions of an election or objection by one or more Partners pursuant to Section 13.1, result in a dissolution of the Partnership, the General Partner shall, within thirty (30) days thereafter, provide written notice thereof to each of the Partners.

  • Voluntary Bankruptcy or Insolvency Proceedings The Company shall (i) apply for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, (ii) admit in writing its inability to pay its debts generally as they mature, (iii) make a general assignment for the benefit of its or any of its creditors, (iv) be dissolved or liquidated, (v) commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it, or (vi) take any action for the purpose of effecting any of the foregoing; or

  • No Bankruptcy Developer is not now nor has it ever been in bankruptcy or receivership.

  • Borrower Bankruptcy To the Mortgage Loan Seller's knowledge, no Borrower under a Mortgage Loan is a debtor in any state or federal bankruptcy, insolvency or similar proceeding. To the Mortgage Loan Seller's knowledge, as of the origination of the Mortgage Loan, none of (x) the nonrecourse carveout guarantors or nonrecourse carveout indemnitors under the Mortgage Loan, (y) any tenant with respect to more than 75% of the net rentable area at the related Mortgaged Property that is an Affiliate of the Borrower or (z) the sole tenant at the Mortgaged Property (in the case of this clause (z), if substantially all of the Mortgaged Property is leased to a single tenant and the tenant was the owner of the Mortgaged Property immediately prior to the origination of the Mortgage Loan) was a debtor in any state or federal bankruptcy, insolvency or similar proceeding.

  • Involuntary Bankruptcy or Insolvency Proceedings Proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Company or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Company or the debts thereof under any bankruptcy, insolvency or other similar law or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within thirty (30) days of commencement.

  • Events of Default Other Than Bankruptcy, Insolvency or Reorganization Proceedings If an Event of Default specified under Sections 9.1.1 through 9.1.10 shall occur and be continuing, the Lenders and the Administrative Agent shall be under no further obligation to make Loans and the Issuing Lender shall be under no obligation to issue Letters of Credit and the Administrative Agent may, and upon the request of the Required Lenders, shall (i) by written notice to the Borrower, declare the unpaid principal amount of the Notes then outstanding and all interest accrued thereon, any unpaid fees and all other Indebtedness of the Borrower to the Lenders hereunder and thereunder to be forthwith due and payable, and the same shall thereupon become and be immediately due and payable to the Administrative Agent for the benefit of each Lender without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, and (ii) require the Borrower to, and the Borrower shall thereupon, deposit in a non-interest-bearing account with the Administrative Agent, as cash collateral for its Obligations under the Loan Documents, an amount equal to the maximum amount currently or at any time thereafter available to be drawn on all outstanding Letters of Credit, and the Borrower hereby pledges to the Administrative Agent and the Lenders, and grants to the Administrative Agent and the Lenders a security interest in, all such cash as security for such Obligations; and

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