Common use of Relief From Stay Clause in Contracts

Relief From Stay. In the event that Borrower commences a case under the Code or is the subject of an involuntary case that results in an order for relief under the Code, subject to court approval, Lender shall thereupon be entitled and Borrower irrevocably consents to relief from any stay imposed by Section 362 of the Code on or against the exercise of the rights and remedies otherwise available to Lender as provided in the Loan Documents and Borrower hereby irrevocably waives its rights to object to such relief. In the event Borrower shall commence a case under the Code or is the subject of an involuntary case that results in an order for relief under the Code, Borrower hereby agrees that no injunctive relief against Lender shall be sought under Section 105 or other provisions of the Code by Borrower or other person or entity claiming through Borrower, nor shall any extension be sought of the stay provided by Section 362 of the Code.

Relief From Stay. In the event that Borrower Debtor commences a case under the Code or is the subject of an involuntary case that results in an order for relief under the Code, subject to court approval, Lender Mortgagee shall thereupon be entitled and Borrower Debtor irrevocably consents to relief from any stay imposed by Section 362 of the Code on or against the exercise of the rights and remedies otherwise available to Lender Mortgagee as provided in the Loan Documents and Borrower Debtor hereby irrevocably waives its rights to object to such relief. In the event Borrower Debtor shall commence a case under the Code or is the subject of an involuntary case that results in an order for relief under the Code, Borrower Debtor hereby agrees that no injunctive relief against Lender Mortgagee shall be sought under Section 105 or other provisions of the Code by Borrower Debtor or other person or entity claiming through BorrowerDebtor, nor shall any extension be sought of the stay provided by Section 362 of the Code.