Limitation on Institution of Bankruptcy Proceedings. BNY shall not institute against or cause any other person to institute against, or join any other person in instituting against the Counterparty, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, under any of the laws of the United States or any other jurisdiction, for a period of one year and one day (or, if longer, the applicable preference period) following indefeasible payment in full of the Certificates.
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Samples: Rate Cap Transaction (RALI Series 2006-Qs9 Trust), Rate Cap Transaction (RALI Series 2006-Qo5 Trust), Rate Cap Transaction (RALI Series 2006-Qs4 Trust)
Limitation on Institution of Bankruptcy Proceedings. BNY shall not institute against or cause any other person to institute against, or join any other person in instituting against the Counterparty, Counterparty any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, under any of the federal or state bankruptcy or similar law or bankruptcy or similar laws of the United States or any other jurisdiction, for a period of one year and one day (or, if longer, the applicable preference period) following indefeasible payment in full of the Certificates. This provision shall survive the expiration of this Agreement.
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