Insolvency Applications. It acknowledges that its business and financial relationships with the Lender are unique, and that the Lender does not have a common interest with any of its other creditors; and it agrees that if it files any plan of arrangement under the Companies’ Creditors Arrangement Act or makes any proposal under the Bankruptcy and Insolvency Act, the Lender will be placed in its own class for voting and distribution purposes, and the Credit Party will not permit or acquiesce in, directly or indirectly, the classification of the Lender with any other creditor for any purpose of such plan or proposal or otherwise.
Insolvency Applications. Each Canadian Borrower, for itself and each of its Subsidiaries (if any), acknowledges that their business and financial relationships with the Lenders are unique, and that the Lenders do not have a common interest with any other of their creditors. Each Canadian Borrower, for itself and each of its Subsidiaries (if any), agrees that if any of them files any plan of arrangement under the Companies’ Creditors Arrangement Act or makes any proposal under the Bankruptcy and Insolvency Act, the Lenders will be placed in their own class for voting and distribution purposes, and that none of them will permit, directly or indirectly, the Lenders to be classified with any other creditor for any purpose of such plan or proposal or otherwise.
Insolvency Applications. The Borrowing Subsidiary, for itself and each of its Subsidiaries (if any), acknowledges that their business and financial relationships with the Lenders are unique, and that the Lenders do not have a common interest with any other of their creditors. The Borrowing Subsidiary, for itself and each of its Subsidiaries (if any), agrees that if any of them files any plan of arrangement under the Companies' Creditors Arrangement Act or makes any proposal under the Bankruptcy and Insolvency Act, the Lenders will be placed in their own class for voting and distribution purposes, and that none of them will permit, directly or indirectly, the Lenders to be classified with any other creditor for any purpose of such plan or proposal or otherwise.
Insolvency Applications. The Borrower acknowledges that its business and financial relationships with the Bank are unique and that the Bank does not have a common interest with any other of the Borrower’s creditors. The Borrower agrees that if it files any plan of arrangement under the Companies’ Creditors Arrangement Act (Canada) or makes any proposal under the Bankruptcy and Insolvency Act (Canada), the Bank will be placed in its own class for voting and distribution purposes, and the Borrower further agrees that it will not permit, directly or indirectly, the Bank to be classified with any other creditor for any purpose of such plan or proposal or otherwise.
