New Agreement if Rejected or Terminated in Bankruptcy Sample Clauses

New Agreement if Rejected or Terminated in Bankruptcy. In the event that this Agreement is rejected or terminated by a trustee or debtor-in-possession in any bankruptcy or insolvency proceeding of either Party and within one hundred-eighty (180) days after such rejection or termination, if any Lender for such Party authorized to do so under the terms of such Party’s Financing Documents (and any intercreditor arrangements related thereto), as such Lender so certifies to the other Party, or any of its respective designees or assignees, shall so request, the non-bankrupt Party shall execute and deliver to such Lender or such designee or assignee a new contract or contracts, as the case may be, which shall be for the balance of the obligations and services remaining to be performed under this Agreement before giving effect to such rejection or termination and shall contain the same conditions, agreements, terms, provisions and limitations as this Agreement. If the approval of any such trustee or debtor-in- possession or any regulatory approvals are necessary in order for the non-bankrupt Party to enter into or perform under any such new contract, such Party shall cooperate with the Lender or such designee or assignee in obtaining such approvals as rapidly as possible. The Lender or such designee or assignee shall not be liable for performing or be required to perform or cause to be performed any of the bankrupt Party’s obligations that were wholly or partially unperformed at the time of such rejection or termination, except as provided below in this Section 6.5. The Lender or such designee or assignee shall be liable only for any payments that are due but unpaid under the rejected or terminated Agreement and obligations arising or accruing on or after the date such new contract is entered into, and for the performance of obligations of the bankrupt Party to be performed while the Lender or such designee or assignee is performing under and seeking the benefit of such new contract. The Lender or such designee or assignee shall have the right to assign any interest it may acquire in such new contract so long as such assignment is consistent with the applicable terms of any consent to assignment or similar agreement that may exist between the non-bankrupt Party and the Financing Parties of the bankrupt Party.
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Related to New Agreement if Rejected or Terminated in Bankruptcy

  • Termination of Representative The services of a Representative may be terminated at any time by the affirmative vote of Holders holding a majority of the Notes, measured by the outstanding principal amount with respect to each such Note, but only if they simultaneously appoint a replacement Representative.

  • Termination of Recall Rights The layoff shall be a termination of employment and recall rights shall lapse if the layoff lasts for more than twenty-four (24) consecutive months without recall.

  • Application of Settlement Agreement 10.1 This Settlement Agreement shall apply to, be binding upon, and inure to the benefit of, CAG and the Releasees and Downstream Releasees identified in Section 2 above.

  • Termination/Cancellation/Rejection The State specifically reserves the right upon written notice to immediately terminate the contract or any portion thereof at no additional cost to the State, providing, in the opinion of its Commissioner of Buildings and General Services, the products supplied by Contractor are not satisfactory or are not consistent with the terms of this Contract. The State also specifically reserves the right upon written notice, and at no additional cost to the State, to immediately terminate the contract for convenience and/or to immediately reject or cancel any order for convenience at any time prior to shipping notification.

  • Contract Renegotiation, Suspension, or Termination Due to Change in Funding If the funds DSHS relied upon to establish this Contract or Program Agreement are withdrawn, reduced or limited, or if additional or modified conditions are placed on such funding, after the effective date of this contract but prior to the normal completion of this Contract or Program Agreement:

  • Termination of Collocation Arrangement CLEC may terminate a completed Collocation arrangement by a Collocation Decommission or a Collocation Transfer of Responsibility. A Collocation site is only eligible for Collocation Decommission or a Collocation Transfer of Responsibility after the site is built-out and accepted by CLEC. Abandoned equipment shall be handled as detailed in Section 8.2.1.22.3.

  • CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION 9.1 The Effective Date of this Settlement Agreement shall not occur unless and until each of the following events occurs and shall be the date upon which the last (in time) of the following events occurs:

  • Application of this Revenue Sharing Agreement to Notes The terms of this Revenue Sharing Agreement shall apply to each Note as if the terms of this Revenue Sharing Agreement were fully set forth in each Note.

  • Sale of Note; Change of Loan Servicer; Notice of Grievance The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the “Loan Servicer”) that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party’s actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20.

  • Effective Date Term Termination and Disconnection 3.1 Effective Date 3.2 Term of Agreement 3.3 Termination

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