No Bankruptcies Clause Samples
The "No Bankruptcies" clause serves to confirm that neither party is currently involved in bankruptcy proceedings or subject to insolvency events. In practice, this clause requires each party to represent and warrant that they are financially stable and not undergoing liquidation, receivership, or similar financial distress. Its core function is to assure the other party of financial reliability, reducing the risk of contractual default due to insolvency and providing a basis for trust in the ongoing business relationship.
No Bankruptcies. No Obligor on any Receivable as of the related Cutoff Date was noted in the related Receivable File as being the subject of a bankruptcy proceeding.
No Bankruptcies. No Obligor on any Receivable was noted in the Servicer’s computer system as having filed for bankruptcy.
No Bankruptcies. No Obligor on any Receivable as of the related Cutoff Date was noted in the related Receivable File as being the subject of a bankruptcy proceeding. Receivable File CNH Computer System Information
i) Review the Receivable File and CNH’s Computer System Information and confirm the Obligor is not noted as the subject of a bankruptcy proceeding as of the Cut-off Date
No Bankruptcies. To the Seller’s knowledge, as of the Cutoff Date, the related Obligor on such Receivable is not currently the subject of a bankruptcy proceeding. Receivable File Data Tape
No Bankruptcies. The records of the Servicer did not reflect that the related Obligor on such Receivable being currently the subject of a verified bankruptcy proceeding.
No Bankruptcies. No Act of Insolvency has ever occurred with respect to any Seller Party.
No Bankruptcies. No Obligor on any Receivable as of the Cut-off Date was noted in the related Receivable File as having filed for bankruptcy. Data tape Receivable File
i) Review the data tape and confirm the Obligor is not the subject of a bankruptcy proceeding as of the Cut-off Date
ii) Review the Receivable File and confirm the Obligor is not the subject of a bankruptcy proceeding as of the Cut-off Date
iii) If (i) and (ii) are confirmed, then Test Pass
No Bankruptcies. No Obligor on any Receivable was noted in the related Receivable File as having filed for bankruptcy in a proceeding which remained undischarged as of the Cutoff Date.
No Bankruptcies. The records of the Servicer did not reflect that the related Obligor on such Receivable being currently the subject of a verified bankruptcy proceeding. Receivable File/Contract Data Tape
(i) Review the Data Tape and confirm that the Obligor was not the subject of a bankruptcy proceeding as of the Cutoff Date. If step (i) is confirmed, then Test Pass.
No Bankruptcies. The related Obligor was not noted in the related Receivable File as being the subject of a bankruptcy proceeding.