Common use of NON-PETITION COVENANTS Clause in Contracts

NON-PETITION COVENANTS. Notwithstanding any prior termination of this Agreement, neither the Seller nor NBD shall, prior to the date which is one year and one day after the termination of this Agreement with respect to the Issuer or the Company, acquiesce, petition or otherwise invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuer under any Federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Issuer or the Company.

Appears in 3 contracts

Samples: Loan Sale Agreement (Usa Group Secondary Market Services Inc), Loan Sale Agreement (Usa Group Secondary Market Services Inc), Loan Sale Agreement (Usa Group Secondary Market Services Inc)

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NON-PETITION COVENANTS. Notwithstanding any prior termination of this Agreement, neither the Seller nor NBD [____________] shall, prior to the date which is one year and one day after the termination of this Agreement with respect to the Issuer or the Company, acquiesce, petition or otherwise invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuer under any Federal federal or state State bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Issuer or the Company.

Appears in 2 contracts

Samples: Loan Sale Agreement (Gs Mortgage Securities Corp), Loan Sale Agreement (Goldman Sachs Asset Backed Securities Corp)

NON-PETITION COVENANTS. Notwithstanding any prior termination of this Agreement, neither the Seller nor NBD Bank One shall, prior to the date which is one year and one day after the termination of this Agreement with respect to the Issuer or the Company, acquiesce, petition or otherwise invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuer under any Federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Issuer or the Company.

Appears in 2 contracts

Samples: Loan Sale Agreement (SMS Student Loan Trust 2000-A), Loan Sale Agreement (SMS Student Loan Trust 2000-B)

NON-PETITION COVENANTS. Notwithstanding any prior ---------------------- termination of this Agreement, neither the Seller nor NBD shallMaster Servicer shall not, prior to the date which is one year and one day after the termination of this Agreement with respect to the Issuer or the Company, acquiesce, petition or otherwise invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuer under any Federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Issuer or the CompanyIssuer.

Appears in 1 contract

Samples: Master Servicing Agreement (Signet Bank Maryland)

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NON-PETITION COVENANTS. Notwithstanding any prior termination of this Agreement, neither the Seller nor NBD FNBC shall, prior to the date which is one year and one day after the termination of this Agreement with respect to the Issuer or the Company, acquiesce, petition or otherwise invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuer under any Federal federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Issuer or the Company.

Appears in 1 contract

Samples: Loan Sale Agreement (Nellie Mae Education Loan Corp)

NON-PETITION COVENANTS. Notwithstanding any prior termination of this Agreement, neither the Seller nor NBD shall, prior to the date which is one year and one day after the termination of this Agreement with respect to the Issuer or the CompanyIssuer, acquiesce, petition or otherwise invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuer under any Federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Issuer or the CompanyIssuer.

Appears in 1 contract

Samples: Loan Sale Agreement (Usa Group Secondary Market Services Inc)

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