Limitation on Borrowing. Except as contemplated by Section 9.12 hereof, the Depositor shall not incur, assume or guarantee any indebtedness of any Person, except for indebtedness that: (i) by its terms is completely subordinated to indebtedness of the Depositor; (ii) is non-recourse other than with respect to proceeds in excess of the proceeds necessary to pay the Bonds of any Series; (iii) does not constitute a claim against the Depositor to the extent that such excess proceeds are insufficient to pay such debt; (iv) by its terms provides that the holder thereof may not cause the filing of a petition in bankruptcy or take any similar action against the Depositor until at least [___ days] after all indebtedness represented by each Outstanding Bond is paid in full; and (v) will not adversely affect or result in a withdrawal of the rating of the Bonds by any Rating Agency.
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Limitation on Borrowing. Except as contemplated by Section 9.12 hereof, the Depositor shall not incur, assume or guarantee any indebtedness of any Person, except for indebtedness that: (i) by its terms is completely subordinated to indebtedness of the Depositor; (ii) is non-recourse other than with respect to proceeds in excess of the proceeds necessary to pay the Bonds of any Series; (iii) does not constitute a claim against the Depositor to the extent that such excess proceeds are insufficient to pay such debt; (iv) by its terms provides that the holder thereof may not cause the filing of a petition in bankruptcy or take any similar action against the Depositor until at least [___ days] 121 days after all indebtedness represented by each Outstanding Bond is paid in full; and (v) will not adversely affect or result in a withdrawal of the rating of the Bonds by any Rating Agency.
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