Common use of No Proceedings; Limitation on Payments Clause in Contracts

No Proceedings; Limitation on Payments. (a) Each of the Seller,the Servicer, the Collateral Agent, each Funding Agent, each assignee of thePurchased Interest or any interest therein, hereby covenants and agrees that itwill not institute against, or join any other Person in instituting against, any CP Conduit Purchaser any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, for one year and one day after the latest maturing Note issued by such CP Conduit Purchaser is paid in full. The provision of this Section 6.5 shall survive any termination of this Agreement. (b) Notwithstanding any provisions contained in this Agreement to the contrary, no CP Conduit Purchaser shall, or shall be obligated to, pay any amount, if any, payable by it pursuant to this Agreement or any other Transaction Document unless (i) such CP Conduit Purchaser has received funds which may be used to make such payment and which funds are not required to repay Notes when due and (ii) after giving effect to such payment, either (x) such CP Conduit Purchaser could issue Notes to refinance all outstanding Notes (assuming such outstanding Notes matured at such time) in accordance with the program documents governing such CP Conduit Purchaser's securitization program or (y) all Notes of such CP Conduit Purchaser are paid in full. Any amount that such CP Conduit Purchaser does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in 101 of the Bankruptcy Code) against or company obligation of such CP Conduit Purchaser for any such insufficiency unless and until such CP Conduit Purchaser satisfies the provisions of clauses (i) and (ii) of this Section 6.5(b).

No Proceedings; Limitation on Payments. (a) Each of the Seller,the Servicer-------------------------------------- Originator, the Collateral Transferor, the Agent, each Funding AgentTransferee, each assignee of thePurchased Interest a Receivable or any interest therein, therein and each entity which enters into a commitment to acquire Receivables or interests therein hereby covenants and agrees that itwill it will not institute against, or join any other Person person in instituting against, the Issuer any CP Conduit Purchaser proceeding of the type referred to in paragraph (h) of Exhibit V so long as any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, for commercial paper issued by the Issuer shall be outstanding and there shall not have elapsed one year and plus one day after since the latest maturing Note issued by last day on which any such CP Conduit Purchaser is paid in full. The provision of this Section 6.5 commercial paper shall survive any termination of this Agreementhave been outstanding. (b) Notwithstanding any provisions contained anything in this Agreement to the contrary, no CP Conduit Purchaser shall, or shall be obligated to, pay any amount, if any, payable by it pursuant to this Agreement or any other Transaction Document unless (i) such CP Conduit Purchaser has received funds which may be used to make such payment and which funds are not the contrary, the Issuer shall have no obligation to pay any amount required to repay Notes when due and (ii) after giving effect to such payment, either (x) such CP Conduit Purchaser could issue Notes to refinance all outstanding Notes (assuming such outstanding Notes matured at such time) be paid by it hereunder or thereunder in accordance with the program documents governing such CP Conduit Purchaser's securitization program or (y) all Notes excess of such CP Conduit Purchaser are paid in full. Any any amount that such CP Conduit Purchaser does not pay pursuant available to the operation Issuer after paying or making provision for the payment of its commercial paper notes. All payment obligations of the preceding sentence Issuer hereunder are contingent on the availability of funds in excess of the amounts necessary to pay its commercial paper notes; and each of the Transferor, the Collection Agent, the Agent and the Transferees agree that they shall not constitute have a claim (as defined in 101 under Section 101(5) of the Bankruptcy Code) against or company obligation of such CP Conduit Purchaser for Code if and to the extent that any such insufficiency unless and until payment obligation exceeds the amount available to the Issuer to pay such CP Conduit Purchaser satisfies amount after paying or making provision for the payment of its commercial paper notes. (c) The provisions of clauses (i) and (ii) of this Section 6.5(b)5.05 shall survive any termination of ------------ this Agreement.

No Proceedings; Limitation on Payments. (a) Each of the Seller,the Servicer, the Collateral Agent, each Funding Agent, each assignee of thePurchased Interest the Participation or any interest therein, and each Person which enters into a commitment to purchase the Participation or interests therein, hereby covenants and agrees that itwill it will not institute against, or join any other Person in instituting against, the Purchaser or any CP Conduit Purchaser other Note Issuer, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, for one year and one day after the latest maturing Note issued by the Purchaser or any such CP Conduit Purchaser Note Issuer is paid in full. The provision of this Section 6.5 shall survive any termination of this Agreement. (b) Notwithstanding any provisions contained in this Agreement to the contrary, no CP Conduit the Purchaser shallshall not, or and shall not be obligated to, pay any amount, if any, amount payable by it pursuant to this Agreement or any other Transaction Document unless (i) such CP Conduit the Purchaser has received funds which may be used to make such payment and which funds are not required to repay the Notes when due and (ii) after giving effect to such payment, either (x) such CP Conduit the Purchaser could issue Notes to refinance all outstanding Notes (assuming such outstanding Notes matured at such time) in accordance with the program documents governing such CP Conduit the Purchaser's ’s securitization program or (y) all Notes of such CP Conduit Purchaser are paid in full. Any amount that such CP Conduit which the Purchaser does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in § 101 of the Bankruptcy Code) against or company corporate obligation of such CP Conduit the Purchaser for any such insufficiency unless and until such CP Conduit the Purchaser satisfies the provisions of clauses subclauses (i) and (ii) of this Section 6.5(b)above.

No Proceedings; Limitation on Payments. (a) Each of the Seller,, the Servicer, the Collateral Agent, each Funding Agent, each assignee of thePurchased Interest the Purchased Assets, the Pool Assets or the Capital or any interest therein, and each Person which enters into a commitment to make purchases, Investments or Reinvestments hereunder, hereby covenants and agrees that itwill it will not institute against, or join any other Person in instituting against, the Purchaser or any CP Conduit Purchaser other Note Issuer, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, for one year and one day after the latest maturing Note issued by the Purchaser or any such CP Conduit Purchaser Note Issuer is paid in full. The provision of this Section 6.5 shall survive any termination of this Agreement. (b) Notwithstanding any provisions contained in this Agreement to the contrary, no CP Conduit the Purchaser shallshall not, or and shall not be obligated to, pay any amount, if any, payable by it pursuant to this Agreement or any other Transaction Document unless (i) such CP Conduit the Purchaser has received funds which may be used to make such payment and which funds are not required to repay the Notes when due and (ii) after giving effect to such payment, either (x) such CP Conduit the Purchaser could issue Notes to refinance all outstanding Notes (assuming such outstanding Notes matured at such time) in accordance with the program documents governing such CP Conduit the Purchaser's ’s securitization program or (y) all Notes of such CP Conduit Purchaser are paid in full. Any amount that such CP Conduit which the Purchaser does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the Bankruptcy Code) against or company corporate obligation of such CP Conduit the Purchaser for any such insufficiency unless and until such CP Conduit the Purchaser satisfies the provisions of clauses (i) and (ii) of this Section 6.5(b)above.

No Proceedings; Limitation on Payments. (a) Each of the Seller,, the Servicer, the Collateral Agent, each Funding Agent, each assignee of thePurchased Interest the Participation or any interest therein, and each Person which enters into a commitment to purchase the Participation or interests therein, hereby covenants and agrees that itwill it will not institute against, or join any other Person in instituting against, the Purchaser or any CP Conduit Purchaser other Note Issuer, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, for one year and one day after the latest maturing Note issued by the Purchaser or any such CP Conduit Purchaser Note Issuer is paid in full. The provision of this Section 6.5 shall survive any termination of this Agreement. (b) Notwithstanding any provisions contained in this Agreement to the contrary, no CP Conduit the Purchaser shallshall not, or and shall not be obligated to, pay any amount, if any, payable by it pursuant to this Agreement or any other Transaction Document unless (i) such CP Conduit the Purchaser has received funds which may be used to make such payment and which funds are not required to repay the Notes when due and (ii) after giving effect to such payment, either (x) such CP Conduit the Purchaser could issue Notes to refinance all outstanding Notes (assuming such outstanding Notes matured at such time) in accordance with the program documents governing such CP Conduit the Purchaser's ’s securitization program or (y) all Notes of such CP Conduit Purchaser are paid in full. Any amount that such CP Conduit which the Purchaser does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in §101 of the Bankruptcy Code) against or company corporate obligation of such CP Conduit the Purchaser for any such insufficiency unless and until such CP Conduit the Purchaser satisfies the provisions of clauses (i) and (ii) of this Section 6.5(b)above.