Common use of Restrictions Regarding Bankruptcy Clause in Contracts

Restrictions Regarding Bankruptcy. Neither the Depositor nor the Depositor Eligible Lender Trustee shall, for any reason, institute proceedings for the Seller to be adjudicated as bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Seller, or file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to the bankruptcy of the Seller, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Seller or a substantial part of the property of the Seller or cause or permit the Seller to make any assignment for the benefit of creditors, or admit in writing the inability of the Seller to pay its debts generally as they become due, or declare or effect a moratorium on the debt of the Seller or take any action in furtherance of any such action.