Common use of Cooperation and Noninterference, Ongoing and Bankruptcy-related Clause in Contracts

Cooperation and Noninterference, Ongoing and Bankruptcy-related. Provided KCCI and Lenders are in compliance with the terms of this Workout Agreement, none of Borrower Parties shall take any action of any kind or nature whatsoever, either directly or indirectly, to oppose, impede, enjoin or otherwise interfere with the exercise by KCCI of any of KCCI's rights and remedies against or with respect to the Projects, or any other rights or remedies of KCCI with respect to the Loans, the Credit Documents, this Agreement or the other Workout Documents or the Management Contracts. Without limiting the foregoing, in the event any transfer of title to any of the Projects to KCCI is set aside or otherwise voided by a bankruptcy court or trustee, Borrower Parties shall cooperate fully with KCCI as provided in Section 6.3(d), and further, Borrower Parties shall not oppose or attempt to enjoin KCCI's efforts to obtain relief from any stay imposed by a federal bankruptcy court against judicial or nonjudicial foreclosure or similar proceedings initiated by KCCI with respect to any of the Projects or seek to enjoin or oppose any effort by KCCI to foreclose or to obtain delivery of the Transfer Documents as contemplated by the Workout Documents.

Appears in 1 contract

Sources: Settlement Agreement (Alterra Healthcare Corp)

Cooperation and Noninterference, Ongoing and Bankruptcy-related. Provided KCCI and Lenders are in compliance with the terms of this Workout Agreement, none of Borrower Parties shall take any action of any kind or nature whatsoever, either directly or indirectly, to oppose, impede, enjoin or otherwise interfere with the exercise by KCCI of any of KCCI's rights and remedies against or with respect to the Projects, or any other rights or remedies of KCCI with respect to the Loans, the Credit Documents, this Agreement or the other Workout Documents or the Management Contracts. Without limiting the foregoing, in the event any transfer of title to any of the Projects to KCCI is set aside or otherwise voided by a bankruptcy court or trustee, Borrower Parties shall cooperate fully with KCCI as provided in Section 6.3(d), and further, Borrower Parties shall not oppose or attempt to enjoin KCCI's efforts to obtain relief from any stay imposed by a federal bankruptcy court against judicial or nonjudicial foreclosure or similar proceedings initiated by KCCI with respect to any of the Projects or seek to enjoin or oppose any effort by KCCI to foreclose or to obtain delivery of the Transfer Documents as contemplated by the Workout Documents.. -19-

Appears in 1 contract

Sources: Settlement Agreement (Alterra Healthcare Corp)