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

No Proceedings; Limitation on Payments. Each of the Seller, the Servicer, the Administrator, each assignee of the Purchased Interest or any interest therein and each Person which enters into a commitment to purchase the Purchased Interest or interests therein hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, the 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 Issuer is paid in full.

No Proceedings; Limitation on Payments. Each of the Seller, the Servicer, the AdministratorAgent, each assignee of the Purchased Interest Participation or any interest therein therein, and each Person which enters into a commitment to purchase the Purchased Interest Participation or interests therein therein, hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, the Issuer any 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 any such Note Issuer is paid in full.

No Proceedings; Limitation on Payments. Each of the Seller, the Servicer, the Administrator, each assignee of the Purchased Interest or any interest therein therein, and each Person which enters into a commitment to purchase the Purchased Interest or interests therein therein, hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, the Issuer any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy provincial bankruptcy, insolvency or similar law, for one year and one day after the latest maturing Note issued by the Issuer is paid in full.