LIMITED RECOURSE; NO BANKRUPTCY PETITION. The obligations of the Pledgor are solely corporate obligations of the Pledgor and no action shall be taken against the members or officers of the Pledgor in connection with such obligations. The parties hereto agree that they shall not institute against, or join any other Person in instituting against the Pledgor, any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or state bankruptcy laws or any similar laws until at least one year and one day after payment in full of the Advances. This Section 14 shall survive the expiration or termination of this Agreement.
Appears in 4 contracts
Samples: Securities Account Control Agreement (FS Investment Corp III), Securities Account Control Agreement (FS Energy & Power Fund), Securities Account Control Agreement (FS Investment Corp II)
LIMITED RECOURSE; NO BANKRUPTCY PETITION. The obligations of the Pledgor are solely corporate obligations of the Pledgor and no action shall be taken against the members or officers of the Pledgor in connection with such obligations. The parties hereto agree that they shall not institute against, or join any other Person in instituting against the Pledgor, any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings or other proceedings under U.S. federal or state bankruptcy laws or any similar laws until at least one year two years and one day after payment in full of the Advances. This Section 14 shall survive the expiration or termination of this Agreement.
Appears in 1 contract
Samples: Securities Account Control Agreement (Business Development Corp of America)
