No Bankruptcy Petition Against the Borrower. (a) Each of the parties hereto hereby agrees that it will not institute against, or join any other Person in instituting against any CP Conduit any Insolvency Proceeding so long as any commercial paper issued by such CP Conduit shall be outstanding and there shall not have elapsed one year and one day since the last day on which any such commercial paper shall have been outstanding.
Appears in 3 contracts
Samples: Backup Servicing Agreement (Credit Acceptance Corp), Backup Servicing Agreement (Credit Acceptance Corp), Backup Servicing Agreement (Credit Acceptance Corporation)
No Bankruptcy Petition Against the Borrower. (a) Each of the parties hereto hereby agrees that it will not institute against, or join any other Person in instituting against any CP Conduit Lender any Insolvency Proceeding so long as any commercial paper issued by such CP Conduit Lender shall be outstanding and there shall not have elapsed one year and one day since the last day on which any such commercial paper shall have been outstanding.
Appears in 1 contract
Samples: Backup Servicing Agreement (Credit Acceptance Corp)
