Common use of INDICTMENT - FORFEITURE Clause in Contracts

INDICTMENT - FORFEITURE. The indictment of, or institution of any legal process or proceeding against, the Borrower, any Executive Officer or any guarantor of the Liabilities 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 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 the Borrower of its business in the ordinary course.

INDICTMENT - FORFEITURE. The indictment of, or institution of any legal process or proceeding against, the any Borrower, any Executive Officer or any guarantor of the Liabilities 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 the such 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 the such Borrower of its business in the ordinary course.

INDICTMENT - FORFEITURE. The indictment of, or institution of any ----------------------- legal process or proceeding against, the Borrower, any Executive Officer or any guarantor of the Liabilities under any federal, state, municipal, and other civil or criminal statutestatutem, 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 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 the Borrower of its business in the ordinary course.