Common use of Nonpetition Clause in Contracts

Nonpetition. Lienholder hereby agrees that it will not institute against, or join any other person or entity in instituting against Borrower any proceeding under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction until one year and one day shall have elapsed since the payment in full of all indebtedness and other obligations owed by Borrower to the Lender, Lender’s Bank and Collateral Agent with respect to the Loan Transactions.

Nonpetition. Lienholder hereby agrees that it will not institute against, or join any other person or entity in instituting against Borrower any proceeding under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction until one year two years and one day shall have elapsed since the payment in full of all indebtedness and other obligations owed by Borrower to the LenderLenders, Lender’s Lenders’ Bank and Collateral Agent with respect to the Loan Transactions.