No Bankruptcy Intent. Borrower represents, covenants and agrees that none of Borrower, First Mortgage Borrower or Guarantor has any intent (a) to file any voluntary petition in bankruptcy under any Chapter of the Bankruptcy Code or in any manner to. seek relief, protection, reorganization, liquidation, dissolution or similar relief for debtors under any local, state, federal or other insolvency laws or laws providing for relief of debtors, or in equity, or directly or indirectly to cause any of the other of such Persons to file any such petition or to seek any such relief, either at the present time, or at any time hereafter, or (b) directly or indirectly to cause any involuntary petition under any Chapter of the Bankruptcy Code to be filed against any of such Persons or directly or indirectly to cause any of such Persons to become the subject of any dissolution, liquidation or insolvency proceeding or any other proceeding pursuant to any local, state, federal, or other insolvency laws or laws providing for relief of debtors, or in equity, either at the present time, or at any time hereafter, or (c) directly or indirectly to cause the Mortgaged Property, the Collateral or any portion thereof or any interest of such Persons in the Mortgaged Property or the Collateral to become the property of any bankruptcy estate or the subject of any local, state, federal or other bankruptcy, dissolution, liquidation or insolvency proceedings, either at the present time or at any time hereafter.
No Bankruptcy Intent. Each of the Borrowers represents and warrants that it has no present intent (i) to file any voluntary petition under any chapter of the Bankruptcy Code, title 11 U.S.C., or in any manner seek relief, protection, reorganization, liquidation or dissolution, or similar relief for borrowers under any other state, local, federal or other insolvency laws, either at the present time, or at any time hereafter, or (ii) directly or indirectly to cause any involuntary petition to be filed against any Borrower, or directly or indirectly to cause any Borrower to become the subject of any proceedings pursuant to any other state, federal or other insolvency law providing for the relief of borrowers, either at the present time, or at any time hereafter, or (iii) directly or indirectly to cause any interest of any Borrower to become the property of any bankrupt estate or the subject of any state, federal or other bankruptcy, dissolution, liquidation or insolvency proceedings.
No Bankruptcy Intent. The Board of Directors has no intent to initiate the filing of a bankruptcy petition by the Company or any of its subsidiaries, and is not aware of any such intent by any of the Company's or its subsidiaries creditors.
No Bankruptcy Intent. None of Borrower or Guarantors (collectively, "Borrower Parties") presently intend to (a) file a voluntary petition with any bankruptcy court of competent jurisdiction or be the subject of any petition under Title 11 of the U.S. Code, as amended (the "Bankruptcy Code"); (b) be the subject of any order for relief issued under the Bankruptcy Code; (c) file or be the subject of any petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency, or other relief for debtors; (d) have sought or consented to or acquiesced in the appointment of any trustee, receiver, conservator, liquidator or assignee for the benefit of creditors; or (e) be the subject of any order, judgment, or decree entered by any court of competent jurisdiction approving a petition filed against such party in connection with any Debtor Proceeding.
No Bankruptcy Intent. None of Borrower, Maryland Loan Guarantor or Guarantor (collectively, “Borrower Parties”) has been a party to any Debtor Proceeding within ten (10) years prior to the Effective Date. No Borrower Party has any intent to (a) file a voluntary petition with any bankruptcy court of competent jurisdiction or be the subject of any petition under the Bankruptcy Code; (b) be the subject of any order for relief issued under the Bankruptcy Code; (c) file or be the subject of any petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency, or other relief for debtors; (d) seek or consent to or acquiesce in the appointment of any trustee, receiver, conservator, liquidator or assignee for the benefit of creditors; or (e) be the subject of any order, judgment, or decree entered by any court of competent jurisdiction approving a petition filed against such party in connection with any Debtor Proceeding.
No Bankruptcy Intent. None of Borrower, Glimcher LP or Glimcher Corp. has any intent (a) to file or cause Borrower to file any voluntary petition under any Chapter of the United States Bankruptcy Code, Title 11, U.S.C.A. ("Bankruptcy Code"), or in any manner to seek or cause Borrower to seek any Debtor Proceeding or to file or cause Borrower to file any such petition or any Debtor Proceeding at any subsequent time, or (b) directly or indirectly to cause any involuntary petition under any Chapter of the Bankruptcy Code to be filed against Borrower, or (c) directly or indirectly to cause the Project or any portion or any interest of Borrower in the Project to become the property of any bankrupt estate or the subject of any Debtor Proceeding at any subsequent time. Borrower acknowledges that the filing of any petition or the seeking of any relief in a Debtor Proceeding by any of Borrower, Glimcher LP or Glimcher Corp., would be in bad faith and solely for purposes of delaying, inhibiting or otherwise impeding the exercise by Lender of Lender's rights, and whether directly or indirectly, would be in bad faith and solely for purposes of delaying, inhibiting or otherwise impeding the exercise by Lender of Lender's rights and remedies against Borrower and the Project pursuant to the Loan Documents or at law.
No Bankruptcy Intent. The Borrower and each Guarantor hereby represents that each has no present intent (a) to file any voluntary petition under any chapter of the Bankruptcy Code, title 11 U.S.C., or in any manner seek relief, protection, reorganization, liquidation or dissolution, or similar relief under any other state, local, federal or other insolvency laws, either at the present time, or at any time hereafter, or (b) directly or indirectly to cause any involuntary petition to be filed against the Borrower or any Guarantor, or directly or indirectly cause the Borrower or any Guarantor to become the subject of any proceedings pursuant to any other state, federal or other insolvency law providing for the relief of the Borrower or any Guarantor, either at the present time, or at any time hereafter, or (c) directly or indirectly to cause any interest of the Borrower or any Guarantor to become property of any bankrupt estate or the subject of any state, federal or other bankruptcy, dissolution, liquidation or insolvency proceedings.
No Bankruptcy Intent. Each of the Borrower, the undersigned Guarantor, the Member and the Manager, jointly and severally, hereby represents, covenants and agrees that none of the Borrower, the Property Owner, the Guarantor, the Member or the Manager has any intent (1) to file any voluntary petition in bankruptcy under any Chapter of the Bankruptcy Code or in any manner to seek relief, protection, reorganization, liquidation, dissolution or similar relief for debtors under any local, state, federal or other insolvency laws or laws providing for relief of debtors, or in equity, or directly or indirectly to cause any of the other of such Persons to file any such petition or to seek any such relief, either at the present time, or at any time hereafter, or (2) directly or indirectly to cause any involuntary petition under any Chapter of the Bankruptcy Code to be filed against any of such Persons or directly or indirectly to cause any of such Persons to become the subject of any dissolution, liquidation or insolvency proceeding or any other proceeding pursuant to any local, state, federal, or other insolvency laws or laws providing for relief of debtors, or in equity, either at the present time, or at any time hereafter, or (3) directly or indirectly to cause the Mezzanine Property, the Mezzanine Collateral, any other Collateral or any portion thereof or any interest of such Persons in the Mezzanine Property, the Mezzanine Collateral or any other Collateral to become the property of any bankruptcy estate or the subject of any local, state, federal or other bankruptcy, dissolution, liquidation or insolvency proceedings, either at the present time or at any time hereafter.
No Bankruptcy Intent. That Borrower has no present intent to file any voluntary petition under any Chapter of the Bankruptcy Code, or in any manner to seek relief, protection, reorganization, liquidation, dissolution or similar relief for debtors under any other local, state, federal or other insolvency laws or laws providing for relief of debtors at law or in equity; and that the filing of any such petition, or the seeking of any such relief by Borrower in breach of this representation, would be in bad faith and solely for purposes of delaying, inhibiting or otherwise impeding the exercise by KCCI of KCCI's rights and remedies against Borrower or the Projects pursuant to this Agreement and the Workout Documents, the Credit Documents or at law or in equity; that the indebtedness outstanding under the Loans as of the Effective Date, as referred to in Section 3.2(c), is materially greater than the fair and true market value of the Projects as of the Effective Date; and that, in the event that the Projects or any portion thereof were to become the property of any bankruptcy estate or the subject of any state, federal or other bankruptcy dissolution, liquidation or insolvency proceeding, neither the Projects, nor any one or more of the Projects, is necessary for an effective reorganization of Borrower or of Company, nor would Borrower have any reasonable likelihood to successfully reorganize its financial affairs in a bankruptcy. -14- (d)
No Bankruptcy Intent. Neither UBHC nor its subsidiary, Universal -------------------- Beverages, Inc., has any intent to (i) file any petition under any chapter of the Federal bankruptcy Code, or in any manner to seek relief, protection, reorganization, liquidation, dissolution or similar relief for debtors under any other local, state, federal, or other insolvency law or laws providing for the relief of debtors or in equity, or directly or indirectly cause any other Borrower to file any such petition or to seek any such relief, either at the present time or any time hereafter, or (ii) directly or indirectly cause any involuntary petition under any chapter of the Federal Bankruptcy Code to be filed against it, either at the present time, or at any time hereafter.
