Common use of No Commencement of Any Proceedings Clause in Contracts

No Commencement of Any Proceedings. Each Subordinated Creditor agrees that, so long as any of the Obligations shall remain unpaid, it will not in its capacity as such a creditor of the Borrower commence, or join (in such capacity) with any creditor (in such capacity) other than Banks and the Agents in commencing, any proceeding in respect of the Borrower of the nature referred to in Section 3(a).

No Commencement of Any Proceedings. Each Subordinated Creditor agrees that, so long as any of the Obligations shall remain unpaid, it will not in its capacity as such a creditor of the Borrower Company commence, or join (in such capacity) with any creditor (in such capacity) other than Banks and the Agents (as such terms are defined in the Original Subordination Agreement) in commencing, any proceeding in respect of the Borrower Company of the nature referred to in Section 3(a).

No Commencement of Any Proceedings. Each Subordinated Creditor agrees that, so long as any of the Obligations shall remain unpaid, it will not in its capacity as such a creditor of the Borrower Company commence, or join (in such capacity) with any creditor (in such capacity) other than Banks the Lenders and the Agents (as such terms are defined in the Original Subordination Agreement) in commencing, any proceeding in respect of the Borrower Company of the nature referred to in Section 3(a).