Common use of INDICTMENT - FORFEITURE Clause in Contracts

INDICTMENT - FORFEITURE. The indictment of, or institution of any legal process or proceeding against, the Borrower or any member of the 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 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 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 Obligor or any member of the Borrowerany 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 the Borrower 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 Borrower Obligor of its business in the ordinary course.

INDICTMENT - FORFEITURE. The indictment of, or institution of any legal process or proceeding against, the any Borrower or any member of the Lead Borrower’s '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 the any 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 Borrower of its business in the ordinary course.