Common use of INDICTMENT - FORFEITURE Clause in Contracts

INDICTMENT - FORFEITURE. The indictment of, or institution of any legal process or proceeding against, any Obligor or any member of any Obligor’s senior management, under any federal, state, municipal, and other civil or criminal statute, rule, regulation, order, or other requirement having the force of law where the relief, penalties, or remedies sought or available include the forfeiture of any property of any Obligor and/or the imposition of any stay or other order, the effect of which could be to restrain in any material way the conduct by that Obligor of its business in the ordinary course.

INDICTMENT - FORFEITURE. The indictment of, or institution of any legal process or proceeding against, any Obligor the Borrower or any member of any Obligorthe Borrower’s senior management, under any federal, state, municipal, and other civil or criminal statute, rule, regulation, order, or other requirement having the force of law where the relief, penalties, or remedies sought or available include the forfeiture of any property of any Obligor the Borrower and/or the imposition of any stay or other order, the effect of which could be to restrain in any material way the conduct by that Obligor Borrower of its business in the ordinary course.

INDICTMENT - FORFEITURE. The indictment of, or institution of any legal process or proceeding against, any Obligor Borrower or any member of any Obligor’s Lead Borrower's senior management, under any federal, state, municipal, and other civil or criminal statute, rule, regulation, order, or other requirement having the force of law where the relief, penalties, or remedies sought or available include the forfeiture of any property of any Obligor Borrower and/or the imposition of any stay or other order, the effect of which could be to restrain in any material way the conduct by that Obligor Borrower of its business in the ordinary course.