Common use of Waiver by Indemnitor Clause in Contracts

Waiver by Indemnitor. Indemnitor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Borrower, Indemnitor shall not seek a supplemental stay or otherwise seek, pursuant to 11 U.S.C. §105 or any other provision of the Bankruptcy Reform Act of 1978, as amended, or any other debtor relief law (whether statutory, common law, case law, or otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Lender to enforce any rights of Lender against Indemnitor by virtue of this Agreement or otherwise.

Waiver by Indemnitor. Indemnitor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Borrowerany Indemnitor, no Indemnitor shall not seek a supplemental stay or otherwise seek, pursuant to 11 U.S.C. §105 or any other provision of the Bankruptcy Reform Act of 1978, as amended, or any other debtor relief law (whether statutory, common law, case law, or otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Lender the Beneficiaries to enforce any rights of Lender the Beneficiaries against Indemnitor by virtue of this Agreement or otherwise.