Common use of Not Affected by Bankruptcy Clause in Contracts

Not Affected by Bankruptcy. Notwithstanding any modification, discharge or extension of any of the Obligations or any amendment, modification, stay or cure of any Secured Party’s rights which may occur in any bankruptcy or reorganization case or proceeding against any Loan Party or any other Guarantor, whether permanent or temporary, and whether or not assented to by any of the Secured Parties, each of the Guarantors hereby agrees that the Guarantors shall be obligated hereunder to pay and perform the Obligations and discharge their other obligations in accordance with the terms of the Obligations and the terms of this Guarantee. Each Guarantor understands and acknowledges that, by virtue of this Guarantee, it has specifically assumed any and all risks of a bankruptcy or reorganization case or proceeding with respect to any Loan Party or any other Guarantor. Without in any way limiting the generality of the foregoing, any subsequent modification of any of the Obligations in any reorganization case concerning any Loan Party shall not affect the obligation of any Guarantor to pay and perform the Obligations in accordance with the original terms thereof.

Appears in 3 contracts

Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP), Security Agreement (Sprague Resources LP)

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Not Affected by Bankruptcy. Notwithstanding any modification, discharge or extension of any of the Obligations or any amendment, modification, stay or cure of any the rights of the Secured Party’s rights Parties which may occur in any bankruptcy or reorganization case or proceeding against any Loan Party Borrower or any other Guarantor, Guarantor whether permanent or temporary, and whether or not assented to by the Collateral Agent or any of the other Secured PartiesParty, each of the Guarantors hereby agrees that the Guarantors shall be obligated hereunder to pay and perform the Obligations and discharge their other obligations in accordance with the terms of the Obligations and the terms of this GuaranteeAgreement. Each Guarantor understands and acknowledges that, by virtue of this GuaranteeAgreement, it has specifically assumed any and all risks of a bankruptcy or reorganization case or proceeding with respect to any Loan Party or any the Borrowers and each other Guarantor. Without in any way limiting the generality of the foregoing, any subsequent modification of any of the Obligations in any reorganization case concerning a Borrower or any Loan Party other Guarantor shall not EX A-11-000005 DB_000201 CONFIDENTIAL affect the obligation of any Guarantor to pay and perform the Obligations in accordance with the original terms thereof.

Appears in 1 contract

Samples: Guarantee Agreement

Not Affected by Bankruptcy. Notwithstanding any modification, discharge or extension of any of the Obligations Guaranteed Liabilities or any amendment, modification, stay or cure of the Collateral Agent's, the Administrative Agent's or any Secured Party’s Lender's rights which may occur in any bankruptcy or reorganization case or proceeding against the Borrower, any other Loan Party or any Guarantor or any other Guarantorguarantor, whether permanent or temporary, and whether or not assented to by any of the Secured PartiesCollateral Agent, the Administrative Agent or the Lenders, each of the Guarantors Guarantor hereby agrees that the Guarantors it shall be obligated hereunder to pay and perform the Obligations and discharge their other all of its obligations under this Parent Guarantee in accordance with the its terms (without regard to any such modification, discharge or extension of the Obligations and Guaranteed Liabilities of the terms of this Guarantee. Each Guarantor understands and acknowledges that, by virtue of this Guarantee, it has specifically assumed Borrower or any and all risks of a bankruptcy or reorganization case or proceeding with respect to any other Loan Party or any such other Guarantorguarantor thereunder). Without in any way limiting the generality of the foregoing, any subsequent modification of any of the Obligations Guaranteed Liabilities in any reorganization case concerning the Borrower or any other Loan Party (other than such Guarantor) shall not affect the obligation of any such Guarantor to pay and perform the Obligations Guaranteed Liabilities in accordance with the original terms thereof.

Appears in 1 contract

Samples: Parent Guarantee (Global Signal Inc)

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Not Affected by Bankruptcy. Notwithstanding any modification, discharge or extension of any of the Guaranteed Obligations or any amendment, modification, stay or cure of the Collateral Agent's, any Secured Party’s Administrative Agent' or any Lender's rights which may occur in any bankruptcy or reorganization case or proceeding against the Borrower, any other Loan Party or any Guarantor or any other Guarantorguarantor, whether permanent or temporary, and whether or not assented to by any of the Secured PartiesCollateral Agent, the Administrative Agents or the Lenders, each of the Guarantors Guarantor hereby agrees that the Guarantors it shall be obligated hereunder to pay and perform the Obligations and discharge their other all of its obligations under this Parent Guarantee in accordance with the its terms (without regard to any such modification, discharge or extension of the Guaranteed Obligations and of the terms of this Guarantee. Each Guarantor understands and acknowledges that, by virtue of this Guarantee, it has specifically assumed Borrower or any and all risks of a bankruptcy or reorganization case or proceeding with respect to any other Loan Party or any such other Guarantorguarantor thereunder). Without in any way limiting the generality of the foregoing, any subsequent modification of any of the Guaranteed Obligations in any reorganization case concerning the Borrower or any other Loan Party (other than such Guarantor) shall not affect the obligation of any such Guarantor to pay and perform the Guaranteed Obligations in accordance with the original terms thereof.

Appears in 1 contract

Samples: Global Signal Inc

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