Common use of Waiver of Automatic Stay Clause in Contracts

Waiver of Automatic Stay. Tenant agrees that in the event Tenant shall (a) file with any bankruptcy court of competent jurisdiction, or be the subject of, any petition under Title 11 of the U.S. Code; as amended (Bankruptcy Code"), (b) be the subject of any order for relief issued under the Bankruptcy Code, (c) file or be the subject of any petition seeking, or be the subject of any order, judgment, decree entered by any court of competent jurisdiction approving a petition filed against it for, any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency or other relief for debtors, or (d) have sought or consented to or acquiesced in the appointment of any trustee, receiver, conservator or liquidator, the Landlord shall thereupon be entitled and Tenant hereby irrevocably consents to immediate and unconditional relief from any automatic stay imposed by Section 362 of the Bankruptcy Code, or otherwise, on or against the exercise of the rights and remedies otherwise available to Landlord under this lease and as otherwise provided by law, and Tenant hereby irrevocably waivers any right to object to such relief and will not contest any motion by Landlord seeking relief from the automatic stay, and Tenant will cooperate with Landlord in any manner requested by Landlord in its efforts to obtain relief from any such stay or other prohibition. Tenant further hereby irrevocably waives any right to seek an extension of time within which to assume or reject this lease in any proceeding under the Bankruptcy Code.

Waiver of Automatic Stay. Tenant agrees that in In the event Tenant Grantor shall (a) file with at any bankruptcy court of competent jurisdiction, time while any Obligations are outstanding become a “debtor” or be the subject of, any petition under Title 11 of the U.S. Code; as amended (Bankruptcy Code"), (b) be the subject of any order for relief issued under the Bankruptcy Code, (c) file or be the subject of any petition seeking, or be the subject of any order, judgment, decree entered by any court of competent jurisdiction approving a petition filed against it for, any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief “debtor-in-possession” under any present or future federal or state act or law relating to bankruptcy, insolvency or other relief for debtors, or (d) have sought or consented to or acquiesced in the appointment of any trustee, receiver, conservator or liquidator, the Landlord shall thereupon be entitled and Tenant hereby irrevocably consents to immediate and unconditional relief from any automatic stay imposed by Section 362 provision of the Bankruptcy Code, whether by Grantor’s voluntary petition, or otherwisethrough the grant of an order for relief on an involuntary petition against Grantor, or otherwise on or against account of any other Insolvency Event affecting Grantor that constitutes an Event of Default, Grantor, to the exercise extent not expressly prohibited by applicable law (and, if so prohibited, then to the maximum extent permitted thereby), hereby unconditionally and expressly: (i) consents to the entry of an order granting Lender relief from the (so-called) “automatic stay” provisions of the Bankruptcy Code, upon Lender’s motion, complaint or other pleading pursuant to which Lender seeks to exercise its rights to foreclose on, realize upon and/or liquidate all or any part of the collateral or security for the Obligations and remedies otherwise available apply the proceeds thereof to Landlord under this lease reduction of the Obligations; and as otherwise provided by law, (ii) waives any and Tenant hereby irrevocably waivers any right all rights Grantor may have to object to and/or defend against such relief and will not contest any motion by Landlord seeking relief from the automatic staymotion, and Tenant will cooperate with Landlord in any manner requested by Landlord in its efforts to obtain relief from any such stay complaint or other prohibition. Tenant further hereby irrevocably waives pleading, including, without limitation, any right to seek an extension of time within which to assume assertion or reject this lease contention that Grantor, as a debtor or debtor-in-possession in any proceeding under the Bankruptcy Code, is able to provide adequate protection against any diminution in the value of any Collateral in any such proceeding. The foregoing consent to Lender’s relief from such automatic stay, and the waiver of Grantor’s rights to object, defend and/or offer any adequate protection response to any of Lender’s motions, complaints or other pleadings seeking relief from such automatic stay in any such proceeding under the Bankruptcy Code, (A) is subject to the approval of the bankruptcy court in which any such proceeding is then pending or before; and (B) each constitute material inducements to Lender to make and extend any Credit Accommodations, and which inducements and the materiality thereof Grantor hereby expressly acknowledges.

Waiver of Automatic Stay. Tenant In consideration of the Lender's agreement to enter into the Loan and other accommodations being made to Borrower, the Borrower agrees that that, in the event Tenant the Borrower shall (ai) file with any bankruptcy court of competent jurisdiction, jurisdiction or be the subject of, any of a petition under Title 11 of the U.S. Code; , as amended (the "Bankruptcy Code"), (bii) be the subject of any order for relief issued under the Bankruptcy Code, (ciii) file or be the subject of any petition seeking, or be the subject of any order, judgment, decree entered by any court of competent jurisdiction approving a petition filed against it for, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency insolvency, or other relief for debtors, or (div) have sought or consented to or acquiesced in the appointment of any trustee, receiver, conservator or liquidator, or (v) be the Landlord subject of any order, judgment, or decree entered by any court of competent jurisdiction approving a petition filed against such party for any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency, or other relief for debtors, Lender shall thereupon be entitled entitled, and Tenant hereby the Borrower irrevocably consents consents, to the extent not otherwise prohibited by law, to immediate and unconditional relief from any automatic stay imposed by Section 362 of the Bankruptcy Code, or otherwise, on or against in addition to the exercise of the rights and remedies otherwise available to Landlord under this lease Lender, or any other documents or instruments executed and delivered in connection with the Loans and as otherwise provided by law, and Tenant hereby the Borrower irrevocably waivers waives any right to object to such relief and will not contest any motion by Landlord Lender seeking relief from the automatic stay, and Tenant will cooperate with Landlord in any manner requested by Landlord in its efforts to obtain relief from any such stay or other prohibition. Tenant further hereby irrevocably waives any right to seek an extension of time within which to assume or reject this lease in any proceeding under the Bankruptcy Code.

Waiver of Automatic Stay. Tenant As further consideration for Xxxxxx’s entry into this Agreement, each Borrower Party agrees that in the event Tenant shall that it shall: (a) file with any bankruptcy court of competent jurisdiction, or be the subject of, any petition under Title 11 of the U.S. Code; as amended (Bankruptcy Code"), (b) be the subject of any order for relief issued under the Bankruptcy Code, (c) file or be the subject of (i) any petition seeking, or be the subject of any order, judgment, decree entered by any court of competent jurisdiction approving a petition filed against it for, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, dissolution or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency or other relief for debtors, or (dii) any order for relief issued thereunder; (b) have sought or consented to or acquiesced in the appointment of any trustee, receiver, conservator or liquidator; or (c) be the subject of any order, judgment or decree entered by any court of competent jurisdiction approving a petition filed against such party for any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal or state law relating to bankruptcy, insolvency or relief for debtors (the Landlord foregoing “a” through “c” are referred to herein as “Bankruptcy Proceedings”), then Lender shall thereupon be entitled entitled, and Tenant Borrower Parties hereby irrevocably consents consent, to immediate and unconditional seek relief from any automatic stay imposed by Section 362 of the Bankruptcy Code, or otherwise, on or against the exercise of the rights and or remedies otherwise available to Landlord Lender as provided in the Loan Documents and/or in this Agreement solely to the extent permissible under this lease applicable statutes and as otherwise provided by law, court rules. Borrower Parties hereby further agree to take and/or consent to any and Tenant hereby irrevocably waivers any right all reasonable action necessary to object to effectuate such relief and will not contest any motion by Landlord seeking relief from the automatic stay, stay solely to the extent permissible under applicable statutes and Tenant will cooperate with Landlord in any manner requested by Landlord in its efforts to obtain relief from any such stay or other prohibition. Tenant further hereby irrevocably waives any right to seek an extension of time within which to assume or reject this lease in any proceeding under the Bankruptcy Codecourt rules.

Waiver of Automatic Stay. Tenant agrees that in In the event Tenant Borrower shall (a) file with at any bankruptcy court of competent jurisdiction, time while any Obligations are outstanding become a “debtor” or be the subject of, any petition under Title 11 of the U.S. Code; as amended (Bankruptcy Code"), (b) be the subject of any order for relief issued under the Bankruptcy Code, (c) file or be the subject of any petition seeking, or be the subject of any order, judgment, decree entered by any court of competent jurisdiction approving a petition filed against it for, any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief “debtor-in-possession” under any present or future federal or state act or law relating to bankruptcy, insolvency or other relief for debtors, or (d) have sought or consented to or acquiesced in the appointment of any trustee, receiver, conservator or liquidator, the Landlord shall thereupon be entitled and Tenant hereby irrevocably consents to immediate and unconditional relief from any automatic stay imposed by Section 362 provision of the Bankruptcy Code, whether by Borrower’s voluntary petition, or otherwisethrough the grant of an order for relief on an involuntary petition against Borrower, or otherwise on or against account of any other Insolvency Event affecting Borrower that constitutes an Event of Default hereunder, Borrower, to the exercise extent not expressly prohibited by Requirements of Law (and, if so prohibited, then to the maximum extent permitted thereby), hereby unconditionally and expressly: (i) consents to the entry of an order granting Lender relief from the so-called “automatic stay” provisions of the Bankruptcy Code, upon Lender’s motion, complaint or other pleading pursuant to which Lender seeks to exercise its rights to foreclose on, realize upon and/or liquidate all or any part of the collateral or security for the Obligations and remedies otherwise available apply the proceeds thereof to Landlord under this lease reduction of the Obligations; and as otherwise provided by law, (ii) waives any and Tenant hereby irrevocably waivers any right all rights Borrower may have to object to and/or defend against such relief and will not contest any motion by Landlord seeking relief from the automatic staymotion, and Tenant will cooperate with Landlord in any manner requested by Landlord in its efforts to obtain relief from any such stay complaint or other prohibition. Tenant further hereby irrevocably waives pleading, including, without limitation, any right to seek an extension of time within which to assume assertion or reject this lease contention that Borrower, as a debtor or debtor-in-possession in any proceeding under the Bankruptcy Code, is able to provide adequate protection against any diminution in the value of any Collateral in any such proceeding. The foregoing consent to Lender’s relief from such automatic stay, and the waiver of Borrower’s rights to object, defend and/or offer any adequate protection response to any of Lender’s motions, complaints or other pleadings seeking relief from such automatic stay in any such proceeding under the Bankruptcy Code, (A) is subject to the approval of the bankruptcy court in which any such proceeding is then pending or before; and (B) each constitute material inducements to Lender to make and extend to Borrower the Loan and/or any other financial accommodations that may be contemplated by the Loan Documents, and which inducements and the materiality thereof Borrower hereby expressly acknowledges.

Waiver of Automatic Stay. Tenant The Borrower agrees that that, in the event Tenant shall the Borrower, the Guarantor, any other guarantor of the Loan or any of the persons or parties constituting the Borrower, shall: (a) file with any bankruptcy court of competent jurisdiction, jurisdiction or be the subject of, any of a petition under Title 11 of the U.S. United States Code; , as amended (the "Bankruptcy Code"), ; (b) be the subject of any order for relief issued under the Bankruptcy Code, ; (c) file or be the subject of any petition seeking, or be the subject of any order, judgment, decree entered by any court of competent jurisdiction approving a petition filed against it for, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency insolvency, or other relief for debtors, or ; (d) have sought or consented to or acquiesced in the appointment of any trustee, receiver, conservator or liquidator; or (e) be the subject of any order, judgment, or decree entered by any court of competent jurisdiction approving a petition filed against such party for any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal or state act or law relating to bankruptcy, insolvency, or other relief for debtors; the Landlord Lender shall thereupon be entitled and Tenant hereby the Borrower irrevocably consents to immediate and unconditional relief from any automatic stay imposed by Section 362 of the Bankruptcy Code, or otherwise, on or against the exercise of the rights and remedies otherwise available to Landlord under this lease the Lender herein or in any other documents, instruments, writings or agreements executed and delivered in connection therewith and as otherwise provided by law, and Tenant hereby the Borrower irrevocably waivers waives any right to object to such relief and will not contest any motion by Landlord the Lender seeking relief from the automatic stay, and Tenant will cooperate with Landlord in any manner requested by Landlord in its efforts to obtain relief from any such stay or other prohibition. Tenant further hereby irrevocably waives any right to seek an extension of time within which to assume or reject this lease in any proceeding under the Bankruptcy Code.