Stay Relief Sample Clauses

Stay Relief. The Bankruptcy Court shall enter an order or orders granting relief from the automatic stay applicable under Section 362 of the Bankruptcy Code to the holder or holders of any security interest to (i) permit foreclosure (or the granting of a deed in lieu of foreclosure or the like) on any assets of any of the Debtors which have a value in excess of $50,000,000 in the aggregate or (ii) permit other actions that would have a Material Adverse Effect on the DIP Debtors or their estates (taken as a whole); or
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Stay Relief. Until the Discharge of First Lien Obligations has occurred, the Collateral Agent (on behalf of the Second Lien Secured Parties and the Third Lien Secured Parties), the Second Lien Administrative Agent, for itself and on behalf of the other Second Lien Secured Parties, and the Trustee, for itself and on behalf of the other Third Lien Secured Parties, agree that none of them shall: (i) seek (or support any other Person seeking) relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Collateral, without the prior written consent of the First Lien Secured Parties (except to the extent that the First Lien Secured Parties seek relief from the automatic stay) or (ii) oppose (or support any other Person in opposing) any request by the First Lien Secured Parties for relief from such stay. After the Discharge of First Lien Obligations and until the Discharge of Second Lien Obligations has occurred, the Collateral Agent (on behalf of the Third Lien Secured Parties) and the Trustee, for itself and on behalf of the other Third Lien Secured Parties, agree that none of them shall: (i) seek (or support any other Person seeking) relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Collateral, without the prior written consent of the Second Lien Secured Parties (except to the extent that the Second Lien Secured Parties seek relief from the automatic stay), or (ii) oppose (or support any other Person in opposing) any request by the Second Lien Secured Parties for relief from such stay.
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Stay Relief. Each Obligor Party hereby covenants and agrees that, if any Obligor Party or the managing member of Borrower shall file or be the subject of any other petition under the Bankruptcy Code or any other present or future law relating to bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution, conservatorship, receivership or similar relief for debtors (the Bankruptcy Code and any such other law being referred to herein as an "INSOLVENCY LAW"), or if any Obligor Party or the managing member of Borrower shall otherwise commence or be the subject of any other case or proceeding under any Insolvency Law, Lender shall be entitled to relief from any stay or other restraint (including, without limitation, the automatic stay under Section 362 of the Bankruptcy Code) imposed by any such Insolvency Law on or against the exercise of any rights, powers or remedies otherwise available to Lender and to the entry of an order of any court having jurisdiction granting such relief to Lender. Each Obligor Party hereby irrevocably consents to such relief and to the entry of any such order. Each Obligor Party hereby irrevocably waives, relinquishes and releases its rights and entitlements to, and covenants and agrees that no Obligor Party shall object to, attempt to enjoin or otherwise interfere with any such relief, the entry of any such order or the exercise by Lender of any of the aforesaid rights, powers, or remedies, and each Obligor Party further covenants and agrees that, in any such event, each Obligor Party shall, immediately upon request of Lender, take any and all actions necessary or desirable to afford such relief to Lender, including, without limitation, cooperation with Lender to obtain an agreed order or stipulation granting such relief to Lender. Without limiting the generality of anything set forth in this 99 Agreement, each Obligor Party hereby irrevocably consents and agrees to immediate relief from any such stay or other restraint to enable Lender, at Lender's option, to exercise any of the aforesaid rights, powers or remedies, including, without limitation, foreclosure of any security for all or any part of the indebtedness secured by the Loan Documents.
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Stay Relief. (a) As consideration for Successor's forbearance in accordance with this Agreement, should IPRC be the subject of a Bankruptcy Proceeding, then IPRC irrevocably consents and agrees that Successor shall be granted immediate relief from the automatic stay provided by section 362(a) of the United States Bankruptcy Code, 11 U.S.C. ss. 362(a), or any similar stay or injunctive relief provided for under any other form of Bankruptcy Proceeding (the "Stay"), so that Successor may exercise its rights and remedies in and to the Collateral and otherwise under this Agreement without further order of any court, and IPRC shall not contest Successor 's entitlement to such relief.
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Stay Relief. The first lien lender may include a provision that prohibits the second lien lender from seeking stay relief or opposing stay relief sought by the first lien lender. In response to this request, the second lien lender may seek certain limitations, including a reservation of the right to seek relief from the stay if the first lien lender receives relief from the stay themselves.
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Related to Stay Relief

  • Emergency Relief Notwithstanding anything in this Section 8.5 to the contrary, either party may seek from a court any provisional remedy that may be necessary to protect any rights or property of such party pending the establishment of the arbitral tribunal or its determination of the merits of the controversy.

  • Other Relief The remedies provided for in the Lease are in addition to any other remedies available to Landlord at law or in equity by statute or otherwise.

  • Injunctive Relief and Additional Remedy The Executive acknowledges that the injury that would be suffered by the Employer as a result of a breach of the provisions of this Agreement (including any provision of Sections 7 and 8) would be irreparable and that an award of monetary damages to the Employer for such a breach would be an inadequate remedy. Consequently, the Employer will have the right, in addition to any other rights it may have, to obtain injunctive relief to restrain any breach or threatened breach or otherwise to specifically enforce any provision of this Agreement, and the Employer will not be obligated to post bond or other security in seeking such relief. Without limiting the Employer's rights under this Section 9 or any other remedies of the Employer, if the Executive breaches any of the provisions of Section 7 or 8, the Employer will have the right to cease making any payments otherwise due to the Executive under this Agreement.

  • Debtor Relief Any Company (a) is not Solvent, (b) fails to pay its Liabilities generally as they become due, (c) voluntarily seeks, consents to, or acquiesces in the benefit of any Debtor Relief Law, or (d) becomes a party to or is made the subject of any proceeding provided for by any Debtor Relief Law, other than as a creditor or claimant, that could suspend or otherwise adversely affect the Rights of any Credit Party granted in the Loan Documents (unless, if the proceeding is involuntary, the applicable petition is dismissed within sixty (60) days after its filing).

  • Relief The Executive agrees that it would be difficult to measure any damages caused to the Company which might result from any breach by the Executive of the Continuing Obligations, and that in any event money damages would be an inadequate remedy for any such breach. Accordingly, the Executive agrees that if the Executive breaches, or proposes to breach, any portion of the Continuing Obligations, the Company shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such breach without showing or proving any actual damage to the Company.

  • Damages; Relief Termination of this Agreement shall not preclude either Party from claiming any other damages, compensation or relief that it may be entitled to upon such termination.

  • Equitable Relief The parties hereto agree and declare that legal remedies may be inadequate to enforce the provisions of this Agreement and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this Agreement.

  • Injunctive Relief; Other Remedies Executive acknowledges that a breach by Executive of Section 3.1 would cause immediate and irreparable harm to the Company for which an adequate monetary remedy does not exist; hence, Executive agrees that, in the event of a breach or threatened breach by Executive of the provisions of Section 3.1, the Company will be entitled to injunctive relief restraining Executive from such violation without the necessity of proof of actual damage or the posting of any bond, except as required by non waivable, applicable law. Nothing herein, however, will be construed as prohibiting the Company from pursuing any other remedy at law or in equity to which the Company may be entitled under applicable law in the event of a breach or threatened breach of this Agreement by Executive, including without limitation the recovery of damages and/or costs and expenses, such as reasonable attorneys’ fees, incurred by the Company as a result of any such breach or threatened breach. In addition to the exercise of the foregoing remedies, the Company will have the right upon the occurrence of any such breach to offset the damages of such breach as determined by the Company, against any unpaid salary, bonus, commissions, or reimbursements otherwise owed to Executive. In particular, Executive acknowledges that the payments provided under Article II are conditioned upon Executive fulfilling the nondisclosure agreements contained in this Article III. If Executive at any time materially breaches nondisclosure agreements contained in this Article III, then the Company may offset the damages of such breach, as determined solely by the Company, against payments otherwise due to Executive under Article II or, at the Company’s option, suspend payments otherwise due to Executive under Article II during the period of such breach. Executive acknowledges that any such offset or suspension of payments would be an exercise of the Company’s right to offset or suspend its performance hereunder upon Executive’s breach of this Agreement; such offset or suspension of payments would not constitute, and shall not be characterized as, the imposition of liquidated damages.

  • Right to Injunctive Relief Each Party agrees that breaches of this Section 9 may cause irreparable harm to the other Party and shall entitle such other Party, in addition to any other remedies available to it (subject to the terms of this Agreement), the right to seek injunctive relief enjoining such action.

  • Injunctive Relief The Borrower recognizes that, in the event the Borrower fails to perform, observe or discharge any of its obligations or liabilities under this Agreement, any remedy of law may prove to be inadequate relief to the Lenders. Therefore, the Borrower agrees that the Lenders, at the Lenders’ option, shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of proving actual damages.

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