Common use of Voluntary Debtor Relief Clause in Contracts

Voluntary Debtor Relief. Any Obligor or any of its Subsidiaries shall (i) execute an assignment for the benefit of creditors, or (ii) admit in writing its inability, or be generally unable, to pay its debts generally as they become due, or (iii) voluntarily seek the benefit or benefits of any Debtor Relief Law, or (iv) voluntarily become a party to any proceeding provided for by any Debtor Relief Law that would suspend or otherwise affect any of the rights of Lender granted in the Loan Documents;

Appears in 3 contracts

Samples: Credit Agreement (Hallmark Financial Services Inc), Credit Agreement (Hallmark Financial Services Inc), Credit Agreement (Hallmark Financial Services Inc)

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Voluntary Debtor Relief. Any Obligor or any of its Subsidiaries shall (i) execute an assignment for the benefit of creditors, or (ii) admit in writing its inability, or be generally unable, to pay its debts generally as they become due, or (iii) voluntarily seek the benefit or benefits of any Debtor Relief Law, or (iv) voluntarily become a party to any proceeding provided for by any Debtor Relief Law that would suspend or otherwise affect any of the rights of Administrative Agent, L/C Issuer or any Lender granted in the Loan Documents;

Appears in 1 contract

Samples: Credit Agreement (Affirmative Insurance Holdings Inc)

Voluntary Debtor Relief. Any Obligor Borrower or any of its Subsidiaries Subsidiary shall (ia) execute an assignment for the benefit of creditors, or (iib) admit in writing its inability, or be generally unable, inability to pay its debts generally as they become due, or (iiic) voluntarily seek the benefit or benefits of any Debtor Relief Law, Law or (iv) voluntarily become a party to any proceeding provided for by any Debtor Relief Law that would could suspend or otherwise affect any of the rights Rights of Lender Bank granted in the Loan Documents;.

Appears in 1 contract

Samples: Loan Agreement (Citizens Inc)

Voluntary Debtor Relief. Any Obligor or any of its Subsidiaries Subsidiary shall (i) execute an assignment for the benefit of creditors, or (ii) admit in writing its inability, or be generally unable, to pay its debts generally as they become due, or (iii) voluntarily seek the benefit or benefits of any Debtor Relief Law, or (iv) voluntarily become a party to any proceeding provided for by any Debtor Relief Law that would could suspend or otherwise affect any of the rights granted to or for the benefit of Lender granted in any of the Loan Documents;

Appears in 1 contract

Samples: Credit Agreement (Republic Companies Group, Inc.)

Voluntary Debtor Relief. Any Obligor Borrower or any of its Subsidiaries Subsidiary shall (ia) execute an assignment for the benefit of creditors, or (iib) admit in writing its inability, or be generally unable, inability to pay its debts generally as they become due, or (iiic) voluntarily seek the benefit or benefits of any Debtor Relief Law, Law or (iv) voluntarily become a party to any proceeding provided for by any Debtor Relief Law that would could suspend or otherwise affect any of the rights Rights of Lender Administrative Agent or any Bank granted in the Loan Documents;.

Appears in 1 contract

Samples: Loan Agreement (Citizens Inc)

Voluntary Debtor Relief. Any Obligor or any of its Subsidiaries Borrower shall (i) execute an assignment for the benefit of creditors, or (ii) admit in writing its inability, or be generally unable, to pay its debts generally as they become due, or (iii) voluntarily seek the benefit or benefits of any Debtor Relief Law, or (iv) voluntarily become a party to any proceeding provided for by any Debtor Relief Law that would could suspend or otherwise affect any of the rights of Lender granted in the Loan Documents;Papers.

Appears in 1 contract

Samples: Construction Loan Agreement (Newmark Homes Corp)

Voluntary Debtor Relief. Any Obligor or any of its Subsidiaries shall (i) execute an assignment for the benefit of creditors, or (ii) admit in writing its inability, or be generally unable, to pay its debts generally as they become due, or (iii) voluntarily seek the benefit or benefits of any Debtor Relief Law, or (iv) voluntarily become a party to any proceeding provided for by any Debtor Relief Law that would suspend or otherwise affect any of the rights of Lender granted in the Loan Documents;.

Appears in 1 contract

Samples: Credit Agreement (Gainsco Inc)

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Voluntary Debtor Relief. Any Obligor or any of its Subsidiaries shall (ia) execute an assignment for the benefit of creditors, or (iib) admit in writing its inability, or be generally unable, inability to pay its debts generally as they become due, or (iiic) voluntarily seek the benefit or benefits of any Debtor Relief Law, Law or (ivd) voluntarily become a party take any corporate or partnership action to any proceeding provided for by any Debtor Relief Law that would suspend or otherwise affect authorize any of the rights of Lender granted in the Loan Documents;foregoing.

Appears in 1 contract

Samples: Credit Agreement (SFX Broadcasting Inc)

Voluntary Debtor Relief. Any Obligor or any of its Subsidiaries shall (i) execute an assignment for the benefit of creditors, or (ii) admit in writing its inability, or be generally unable, to pay its debts generally as they become due, or (iii) voluntarily seek the benefit or benefits of any Debtor Relief Law, or (iv) voluntarily become a party to any proceeding provided for by any Debtor Relief Law that would suspend or otherwise affect any of the rights of Lender granted in the Loan Documents;; or

Appears in 1 contract

Samples: Term Loan Agreement (Craftmade International Inc)

Voluntary Debtor Relief. Any Obligor or any of its Subsidiaries shall (i) execute an assignment for the benefit of creditors, or (ii) admit in writing its inability, or be generally unable, to pay its debts generally as they become due, or (iii) voluntarily seek the benefit or benefits of any Debtor Relief Law, or (iv) voluntarily become a party to any proceeding provided for by any Debtor Relief Law that would suspend or otherwise affect any of the rights of Administrative Agent or any Lender granted in the Loan Documents;

Appears in 1 contract

Samples: Loan Agreement (Craftmade International Inc)

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