Common use of Parties Including Trustees; Bankruptcy Court Proceedings Clause in Contracts

Parties Including Trustees; Bankruptcy Court Proceedings. This Agreement, the other Credit Documents, and all Liens and other rights and privileges created hereby or pursuant hereto or to any other Credit Document shall be binding upon each Loan Party, the estate of each Loan Party, and any trustee, other estate representative or any successor in interest of any Loan Party in the Chapter 11 Cases or any subsequent case under Chapter 7 of the Bankruptcy Code. This Agreement and the other Credit Documents shall be binding upon, and inure to the benefit of, the Administrative Agent, the Lenders and their permitted assigns, transferees and endorsees. Until the Commitments have expired or have been terminated and the principal of and interest on each Loan and all other Obligations payable hereunder shall have been paid in full in cash, the Liens created by this Agreement and the other Credit Documents shall be and remain valid and perfected in the event of the substantive consolidation or conversion of any Chapter 11 Case or any other bankruptcy case of any Loan Party to a case under Chapter 7 of the Bankruptcy Code or in the event of dismissal of any Chapter 11 Case or the release of any Collateral from the jurisdiction of the Bankruptcy Court for any reason, without the necessity that the Administrative Agent file financing statements or otherwise perfect its Liens under applicable law. Any such purported assignment, transfer, hypothecation or other conveyance by any Loan Party without the prior express written consent of the Administrative Agent shall be void. The terms and provisions of this Agreement are for the purpose of defining the relative rights and obligations of each Loan Party, each Lender and the Administrative Agent with respect to the transactions contemplated hereby and no Person shall be a third party beneficiary of any of the terms and provisions of this Agreement or any of the other Credit Documents.

Appears in 1 contract

Samples: Secured Debtor in Possession Credit Agreement

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Parties Including Trustees; Bankruptcy Court Proceedings. This Agreement, the other Credit Documents, and all Liens and other rights and privileges created hereby or pursuant hereto or to any other Credit Document shall be binding upon each Loan Party, the estate of each Loan Party, and any trustee, other estate representative or any successor in interest of any Loan Party in the Chapter 11 Cases Case or any subsequent case commenced under Chapter 7 of the Bankruptcy Code. This Agreement and the other Credit Documents shall be binding upon, and inure to the benefit of, the Administrative Agent, the Lenders and their permitted assigns, transferees and endorsees. Until the Commitments have expired or have been terminated and the principal of and interest on each Loan and all other Obligations payable hereunder shall have been paid in full in cash, the Liens created by this Agreement and the other Credit Documents shall be and remain valid and perfected in the event of the substantive consolidation or conversion of any Chapter 11 Case or any other bankruptcy case of any Loan Party to a case under Chapter 7 of the Bankruptcy Code or in the event of dismissal of any Chapter 11 Case or the release of any Collateral from the jurisdiction of the Bankruptcy Court for any reason, without the necessity that the Administrative Agent file financing statements or otherwise perfect its Liens under applicable law. Any such purported assignment, transfer, hypothecation or other conveyance by any Loan Party without the prior express written consent of the Administrative Agent shall be void. The terms and provisions of this Agreement are for the purpose of defining the relative rights and obligations of each Loan Party, each Lender and the Administrative Agent with respect to the transactions contemplated hereby and no Person shall be a third party beneficiary of any of the terms and provisions of this Agreement or any of the other Credit Documents.

Appears in 1 contract

Samples: Secured Debtor in Possession Credit Agreement

Parties Including Trustees; Bankruptcy Court Proceedings. This Agreement, the other Credit Documents, Documents and all Liens and other rights and privileges created hereby by or pursuant hereto or to any other Credit Document shall be binding upon each Loan Credit Party, the estate of each Loan Credit Party, and any trustee, other estate representative or any successor in interest of any Loan Credit Party in the any Chapter 11 Cases Case or any subsequent case commenced under Chapter 7 of the Bankruptcy Code. This Agreement and the other Credit Documents shall be binding upon, and inure to the benefit of, the Administrative Agent, successors of Agents and the Lenders and their permitted respective assigns, transferees and endorsees. Until the Commitments have expired or have been terminated and the principal of and interest on each Loan and all other Obligations payable hereunder shall have been paid in full in cash, the The Liens created by this Agreement and the other Credit Documents shall be and remain valid and perfected in the event of the substantive consolidation or conversion of any Chapter 11 Case or any other bankruptcy case of any Loan Credit Party to a case under Chapter 7 of the Bankruptcy Code or in the event of dismissal of any Chapter 11 Case or the release of any Collateral from the jurisdiction of the Bankruptcy Court for any reason, without the necessity that the Administrative any Agent file financing statements or otherwise perfect its Liens under applicable law. No Credit Party may assign, transfer, hypothecate or otherwise convey its rights, benefits, obligations or duties hereunder or under any of the other Credit Documents without the prior express written consent of Agents and the Lenders. Any such purported assignment, transfer, hypothecation or other conveyance by any Loan Credit Party without the prior express written consent of Agents and the Administrative Agent Lenders shall be void. The terms and provisions of this Agreement are for the purpose of defining the relative rights and obligations of each Loan Credit Party, each Lender Agents and the Administrative Agent Lenders with respect to the transactions contemplated hereby and no Person shall be a third party beneficiary of any of the terms and provisions of this Agreement or of any of the other Credit Documents.

Appears in 1 contract

Samples: Senior Secured Super Priority Debtor in Possession Credit and Guaranty Agreement (California Coastal Communities Inc)

Parties Including Trustees; Bankruptcy Court Proceedings. This Agreement, the other Credit Loan Documents, and all Liens and other rights and privileges created hereby or pursuant hereto or to any other Credit Loan Document shall be binding upon each Loan Credit Party, the estate of each Loan PartyBorrower, and any trustee, other estate representative or any successor in interest of any Loan Party Borrower in the any Chapter 11 Cases Case or any subsequent case commenced under Chapter 7 of the Bankruptcy Code, and shall not be subject to Section 365 of the Bankruptcy Code. This Agreement and the other Credit Loan Documents shall be binding upon, and inure to the benefit of, the Administrative Agent, the successors of Agent and Lenders and their permitted respective assigns, transferees and endorsees. Until the Commitments have expired or have been terminated and the principal of and interest on each Loan and all other Obligations payable hereunder shall have been paid in full in cash, the The Liens created by this Agreement and the other Credit Loan Documents shall be and remain valid and perfected in the event of the substantive consolidation or conversion of any Chapter 11 Case or any other bankruptcy case of any Loan Credit Party to a case under Chapter 7 of the Bankruptcy Code or in the event of dismissal of any Chapter 11 Case or the release of any Collateral from the jurisdiction of the Bankruptcy Court for any reason, without the necessity that the Administrative Agent file financing statements or otherwise perfect its Liens under applicable law. No Credit Party may assign, transfer, hypothecate or otherwise convey its rights, benefits, obligations or duties hereunder or under any of the other Loan Documents without the prior express written consent of Agent and Lenders. Any such purported assignment, transfer, hypothecation or other conveyance by any Loan Credit Party without the prior express written consent of the Administrative Agent and Lenders shall be void. The terms and provisions of this Agreement are for the purpose of defining the relative rights and obligations of each Loan Credit Party, each Lender Agent and the Administrative Agent Lenders with respect to the transactions contemplated hereby and no Person shall be a third party beneficiary of any of the terms and provisions of this Agreement or any of the other Credit Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Caraustar Industries Inc)

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Parties Including Trustees; Bankruptcy Court Proceedings. This Agreement, the other Credit Loan Documents, and all Liens and other rights and privileges created hereby or pursuant hereto or to any other Credit Loan Document shall be binding upon each Loan Credit Party, the estate of each Loan PartyBorrowers, and any trustee, other estate representative or any successor in interest of Borrowers in any Loan Party in the Chapter 11 Cases Case or any subsequent case commenced under Chapter 7 of the Bankruptcy Code, and shall not be subject to Section 365 of the Bankruptcy Code. This Agreement and the other Credit Loan Documents shall be binding upon, and inure to the benefit of, the Administrative Agent, the Lenders successors of Agent and Xxxxxxx and their permitted respective assigns, transferees and endorsees. Until the Commitments have expired or have been terminated and the principal of and interest on each Loan and all other Obligations payable hereunder shall have been paid in full in cash, the The Liens created by this Agreement and the other Credit Loan Documents shall be and remain valid and perfected in the event of the substantive consolidation or conversion of any Chapter 11 Case or any other bankruptcy case of any Loan Credit Party to a case under Chapter 7 of the Bankruptcy Code or in the event of dismissal of any Chapter 11 Case or the release of any Collateral from the jurisdiction of the Bankruptcy Court for any reason, without the necessity that the Administrative Agent file financing statements or otherwise perfect its Liens under applicable law. No Credit Party may assign, transfer, hypothecate or otherwise convey its rights, benefits, obligations or duties hereunder or under any of the other Loan Documents without the prior express written consent of Agent and Lenders. Any such purported assignment, transfer, hypothecation or other conveyance by any Loan Credit Party without the prior express written consent of the Administrative Agent and Lenders shall be void. The terms and provisions of this Agreement are for the purpose of defining the relative rights and obligations of each Loan Credit Party, each Lender Agent and the Administrative Agent Lenders with respect to the transactions contemplated hereby and no Person shall be a third party beneficiary of any of the terms and provisions of this Agreement or any of the other Credit Loan Documents.

Appears in 1 contract

Samples: Debt Agreement

Parties Including Trustees; Bankruptcy Court Proceedings. This Agreement, the other Credit Loan Documents, and all Liens and other rights and privileges created hereby or pursuant hereto or to any other Credit Loan Document shall be binding upon each Loan Partythe Borrower, the estate estates of each Loan Partythe Borrower, and any trustee, other estate representative or any successor in interest of any Loan Party the Borrower in the Chapter 11 Cases Case or any subsequent case commenced under Chapter 7 of the Bankruptcy Code. This Agreement and the other Credit Loan Documents shall be binding upon, and inure to the benefit of, the Administrative Agent, the Lenders Lender and their permitted respective assigns, transferees and endorsees. Until the Commitments have Commitment has expired or have been terminated and the principal of and interest on each Loan and all other Obligations fees payable hereunder shall have been paid in full in cashfull, the Liens created by this Agreement and the other Credit Loan Documents shall be and remain valid and perfected in the event of the substantive consolidation or conversion of any Chapter 11 Case or any other bankruptcy case of any Loan Party the Borrower to a case under Chapter 7 of the Bankruptcy Code or in the event of dismissal of any Chapter 11 Case or the release of any Collateral from the jurisdiction of the Bankruptcy Court for any reason, without the necessity that any of the Administrative Agent Secured Parties file financing statements or otherwise perfect its their Liens under applicable law. Any such purported assignment, transfer, hypothecation or other conveyance by any Loan Party the Borrower without the prior express written consent of the Administrative Agent Lender shall be void. The terms and provisions of this Agreement are for the purpose of defining the relative rights and obligations of each Loan Partythe Borrower, each the Lender and the Administrative Agent other Secured Parties with respect to the transactions contemplated hereby and no Person shall be a third party beneficiary of any of the terms and provisions of this Agreement or any of the other Credit Loan Documents.

Appears in 1 contract

Samples: Senior Secured Superpriority Postpetition Credit Agreement

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