Common use of No Bankruptcy Petition Against the Lender Clause in Contracts

No Bankruptcy Petition Against the Lender. The Borrower hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of all outstanding Commercial Paper or other indebtedness of the Lenders, it will not institute against, or join any other Person in instituting against, any Lender any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States.

Appears in 2 contracts

Samples: Variable Funding Loan Agreement (Walter Industries Inc /New/), Variable Funding Loan Agreement (Walter Industries Inc /New/)

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No Bankruptcy Petition Against the Lender. The Borrower hereby covenants and agrees that, prior to the date which is one (1) year and one (1) day after the payment in full of all outstanding Commercial Paper or other indebtedness of the LendersLender, it will not institute against, or join any other Person in instituting against, any the Lender any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States.

Appears in 2 contracts

Samples: Variable Funding Loan Agreement (Walter Industries Inc /New/), Variable Funding Loan Agreement (Walter Industries Inc /New/)

No Bankruptcy Petition Against the Lender. The Borrower hereby covenants Each of the parties hereto covenant and agrees that, agree that prior to the date which is one year and one day after the payment in full of all outstanding Commercial Paper or other indebtedness of issued by the Lenders, Lender it will not institute against, or join any other Person in instituting against, any the Lender or the Borrower, any bankruptcy, reorganization, arrangement, insolvencyinsolvency or liquidation proceedings, or liquidation other proceedings under any federal or other state bankruptcy or similar proceeding under the laws of the United States or any state of the United Stateslaw.

Appears in 1 contract

Samples: Back Up Servicing Agreement (Credit Acceptance Corporation)

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No Bankruptcy Petition Against the Lender. The Borrower hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of all outstanding Commercial Paper or other indebtedness of the LendersLender, it will not institute against, or join any other Person in instituting against, any the Lender any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceedings or other similar proceeding under the laws of the United States or any state of the United States.

Appears in 1 contract

Samples: Variable Funding Loan Agreement (Walter Industries Inc /New/)

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