Common use of DISAPPLICATION OF CERTAIN EVENTS OF DEFAULT Clause in Contracts

DISAPPLICATION OF CERTAIN EVENTS OF DEFAULT. (i) Section 5(a)(ii), Section 5(a)(iii), Section 5(a)(iv), Section 5(a)(v) and Section 5(a)(vii)(2), (7) and (9) will not apply in respect of Party B. Section 5(a)(vii)(3) will not apply in respect of Party B to any assignment, arrangement or composition in relation to Party B which is effected purely pursuant to a contractual right in the Relevant Documents. Section 5(a)(vii)(6) will not apply in respect of Party B to the extent that it refers to (i) any appointment that is effected by or pursuant to the Relevant Documents or (ii) any appointment that Party B has not become subject to. Section 5(a)(vii)(4) will not apply to Party B to the extent that it refers to proceedings or petitions instituted or presented by Party A or any of its Affiliates. Section 5(a)(vii)(8) will not apply to Party B to the extent that it applies to Section 5(a)(vii)(2), (7) and (9), or to 5(a)(vii)(3), (4) and (6) as amended above.