Common use of Reliance on Judicial Order Clause in Contracts

Reliance on Judicial Order. Upon any payment or distribution of assets of the Guarantor referred to in this Section 3, the holders of the Guarantees shall be entitled to rely upon any final, nonappealable order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, liquidating trustee, Custodian, receiver, assignee for the benefit of creditors, agent or other Person making such payment or distribution, delivered to the holders of Guarantees, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Guarantor, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 3.

Reliance on Judicial Order. or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the Guarantor Kingsway America referred to in this Section 3Article, the holders holder of the Guarantees this Subordinated Note shall be entitled to conclusively rely upon any final, nonappealable order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, liquidating trustee, Custodiancustodian, receiver, assignee for the benefit of creditors, agent or other Person person making such payment or distribution, delivered to the holders holder of Guaranteesthis Subordinated Note, for the purpose of ascertaining the Persons persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness Debt and other indebtedness Indebtedness of the GuarantorKingsway America, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 3Article.

Reliance on Judicial Order. or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the Guarantor Parent referred to in this Section 3Article VI, the holders of Trustee and the Guarantees Securityholders shall be entitled to conclusively rely upon any final, nonappealable order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, liquidating trustee, Custodiancustodian, receiver, assignee for the benefit of creditors, agent or other Person person making such payment or distribution, delivered to the holders of GuaranteesTrustee or to the Securityholders, for the purpose of ascertaining the Persons persons entitled to participate in such payment or distribution, the holders of the Parent Senior Indebtedness and other indebtedness of the GuarantorParent, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 3Article VI.

Reliance on Judicial Order. or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the Guarantor referred in connection with the occurrence of an Event of Default under the Declaration of Trust, the Guarantee Trustee, subject to in this Section the provisions of Article 3, and the holders of the Guarantees Holders shall be entitled to rely upon any final, nonappealable order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding a Proceeding is pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, Custodian, receivercustodian, assignee for the benefit of creditors, agent or other Person making such payment or distribution, delivered to the holders of GuaranteesGuarantee Trustee or to the Holders, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Guarantor, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 3Article.

Reliance on Judicial Order. or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the Guarantor Parent referred to in this Section 3Article VI, the holders of Trustee and the Guarantees Debentureholders shall be entitled to conclusively rely upon any final, nonappealable order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, liquidating trustee, Custodiancustodian, receiver, assignee for the benefit of creditors, agent or other Person person making such payment or distribution, delivered to the holders of GuaranteesTrustee or to the Debentureholders, for the purpose of ascertaining the Persons persons entitled to participate in such payment or distribution, the holders of the Parent Senior Indebtedness Obligations and other indebtedness of the GuarantorParent, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 3Article VI.

Reliance on Judicial Order. or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the Guarantor Company referred to in this Section 3Article, the holders Trustee and the Holders of the Guarantees Notes shall be entitled to rely upon any final, nonappealable order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, Custodian, receivercustodian, assignee for the benefit of creditors, agent or other Person person making such payment or distribution, delivered to the holders Trustee or to the Holders of GuaranteesNotes, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the GuarantorCompany, the amount thereof or payable thereon, the amount or of amounts paid or distributed thereon and all other facts pertinent thereto or to this Section 3Article, provided that the foregoing shall apply only if such court has been fully apprised of the provisions of this Article.