Common use of No Voluntary Bankruptcy Clause in Contracts

No Voluntary Bankruptcy. Neither Investors nor the Trust shall, nor shall Investors cause the Trust to (i) commence any case, proceeding or other action under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization, arrangement, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (ii) seek appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial benefit of its creditors; and neither the Investor nor the Trust shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in this paragraph.

Appears in 1 contract

Samples: Participation Agreement (Kindercare Learning Centers Inc /De)

AutoNDA by SimpleDocs

No Voluntary Bankruptcy. Neither the Investors nor the Trust shall, nor ----------------------- shall Investors cause the Trust to (i) commence any case, proceeding or other action under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization, arrangement, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (ii) seek appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial benefit of its creditors; and neither the Investor Investors nor the Trust shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in this paragraph.

Appears in 1 contract

Samples: Participation Agreement (Sailors Inc)

No Voluntary Bankruptcy. Neither Investors the Owner Trustee nor the Trust shall, nor Investor shall Investors cause the Trust to (i) commence any case, proceeding or other action under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization, arrangement, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (ii) seek appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial benefit of its creditors; and neither the Investor nor the Trust Owner Trustee shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in this paragraph.. 34

Appears in 1 contract

Samples: Participation Agreement (Borders Group Inc)

No Voluntary Bankruptcy. Neither Investors the Investor nor the Trust shall, nor Trustee shall Investors cause the Trust to (i) commence any case, proceeding or other action under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization, arrangement, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (ii) seek appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial benefit of its creditors; and neither the Investor nor the Trust Trustee shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in this paragraph.

Appears in 1 contract

Samples: Participation Agreement (Safeskin Corp)

AutoNDA by SimpleDocs

No Voluntary Bankruptcy. Neither the Investors nor the Trust shall, nor Lessor shall Investors cause the Trust to (i) commence any case, proceeding or other action under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization, arrangement, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (ii) seek appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial benefit of its creditors; and neither the Investor Investors nor the Trust Lessor shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in this paragraph.

Appears in 1 contract

Samples: Participation Agreement (Genentech Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!