Common use of Non-Petition Covenant Clause in Contracts

Non-Petition Covenant. Each of the parties hereto hereby agrees that it shall not institute against either Funding or the Mortgages Trustee any winding-up, administration, insolvency or similar proceedings so long as any sum is outstanding under any Intercompany Loan Agreement of any Issuer or for two years plus one day since the last day on which any such sum was outstanding.

Non-Petition Covenant. Each of the parties hereto hereby agrees that it shall not institute against either Funding or the Mortgages Trustee Funding, any winding-up, administration, insolvency or similar proceedings in any jurisdiction for so long as any sum is outstanding under any Intercompany Loan Agreement of any Issuer or for two years plus one day since the last day on which any such sum was outstandingoutstanding provided that the Security Trustee may prove or lodge a claim in the event of a liquidation initiated by any other person.

Non-Petition Covenant. Each of the parties hereto hereby agrees that it shall not institute against either Funding or Funding, the Mortgages Trustee or any Issuer any winding-up, administration, insolvency or similar proceedings in any jurisdiction for so long as any sum is outstanding under any Intercompany Loan Agreement of any Issuer or for two years plus one day since the last day on which any such sum was outstandingoutstanding provided that the Security Trustee may prove or lodge a claim in the event of a liquidation initiated by any other person.