Common use of Non-petition Clause Clause in Contracts

Non-petition Clause. By its acceptance of the Series 2002-A Note on behalf of the Purchasers, the Agent on behalf of itself and the Purchasers shall be deemed to have agreed that prior to the date which is one year and one day after the termination of the Master Agreement, such Person shall not acquiesce, petition or otherwise invoke or cause the Obligor or the Obligors’ Agent to invoke the process of any Governmental Authority for the purpose of commencing or sustaining a case against the Obligor under any Federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of or for the Obligor or the Obligors’ Agent or any substantial part of its property or ordering the winding-up or liquidation of the affairs of the Obligor or the Obligors’ Agent.

Appears in 1 contract

Samples: Backed Financing Facility Agreement (Marlin Business Services Corp)

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Non-petition Clause. By its acceptance of the Series 2002-A Note on behalf of the Purchasers, the Agent on behalf of itself and the Purchasers shall be deemed to have agreed that prior to the date which is one year and one day after the termination of the Master Agreement, such Person shall not acquiesce, petition or otherwise invoke or cause the Obligor or the Obligors' Agent to invoke the process of any Governmental Authority for the purpose of commencing or sustaining a case against the Obligor under any Federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of or for the Obligor or the Obligors' Agent or any substantial part of its property or ordering the winding-up or liquidation of the affairs of the Obligor or the Obligors' Agent.

Appears in 1 contract

Samples: Financing Facility Agreement (Marlin Business Services Inc)

Non-petition Clause. By its acceptance of the Series 20022000-A Note on behalf of the Purchasers, the Agent on behalf of itself and the Purchasers shall be deemed to have agreed that prior to the date which is one year and one day after the termination of the Master Agreement, such Person shall not acquiesce, petition or otherwise invoke or cause the Obligor or the Obligors’ Agent to invoke the process of any Governmental Authority for the purpose of commencing or sustaining a case against the Obligor under any Federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of or for the Obligor or the Obligors’ Agent or any substantial part of its property or ordering the winding-up or liquidation of the affairs of the Obligor or the Obligors’ Agent.

Appears in 1 contract

Samples: Financing Facility Agreement (Marlin Business Services Corp)

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Non-petition Clause. By its acceptance of the Series 2002-A ________________ Note on behalf of the Purchasers, the Agent on behalf of itself and the Purchasers Purchasers, together with the Agent shall be deemed to have agreed that prior to the date which is one year and one day after the termination of the Master Agreement, such Person shall not acquiesce, petition or otherwise invoke or cause the Obligor or the Obligors’ Agent Series Obligors to invoke the process of any Governmental Authority for the purpose of commencing or sustaining a case against the Obligor Series Obligors under any Federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of or for the Obligor or the Obligors’ Agent Series Obligors or any substantial part of its property or ordering the winding-up or liquidation of the affairs of the Obligor or the Series Obligors’ Agent.

Appears in 1 contract

Samples: Advanta Business Services Corp

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