No Proceedings; Limitation on Payments. Each of the Servicer, each Purchaser, each Purchaser and each assignee of Capital or any Yield thereof or of any other Seller Obligations, hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, the Seller any Insolvency Proceeding until one year and one day after the Final Payout Date; provided, that the Administrative Agent may take any such action in its sole discretion following the occurrence of an Event of Termination. The provisions of this Section 13.05 shall survive any termination of this Agreement.
Appears in 4 contracts
Sources: Receivables Purchase Agreement (Centric Brands Inc.), Receivables Purchase Agreement (Centric Brands Inc.), Receivables Purchase Agreement (Centric Brands Inc.)
No Proceedings; Limitation on Payments. (a) Each of the Master Servicer, each Purchaser, each Purchaser and each assignee of Capital or any Yield thereof or of any other Seller Obligations, hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, the Seller any Insolvency Proceeding until one year and one day after the Final Payout Date; provided, that the Administrative Agent may take any such action in its sole discretion following the occurrence of an Event of Termination. .
(b) The provisions of this Section 13.05 14.05 shall survive any termination of this Agreement.
Appears in 4 contracts
Sources: Receivables Purchase Agreement (Nabors Industries LTD), Receivables Purchase Agreement (Nabors Industries LTD), Receivables Purchase Agreement (Nabors Industries LTD)
No Proceedings; Limitation on Payments. (a) Each of the Master Servicer, each Purchaser, each Purchaser and each assignee of Capital or any Yield thereof or of any other Seller Obligations, hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, the Seller any Insolvency Proceeding until one year and one day after the Final Payout Date; provided, that the Administrative Agent may take any such action in its sole discretion following the occurrence of an Event of Termination. .
(b) The provisions of this Section 13.05 14.05 shall survive any termination of this Agreement.
Appears in 2 contracts
Sources: Receivables Purchase Agreement (Moog Inc.), Receivables Purchase Agreement (Moog Inc.)
No Proceedings; Limitation on Payments. (a) Each of the Master Servicer, each Purchaser, each the Purchaser and each assignee of Capital or any Yield thereof thereon or of any other Seller Obligations, hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, the Seller any Insolvency Proceeding until one year and one day after the Final Payout Date; provided, provided that the Administrative Agent Purchaser may take any such action in its sole discretion following the occurrence of an Event of Termination. .
(b) The provisions of this Section 13.05 12.05 shall survive any termination of this Agreement.
Appears in 1 contract
No Proceedings; Limitation on Payments. (a) Each of the Administrative Agent, the Master Servicer, each Purchaser, each Purchaser and each assignee of Capital or any Yield thereof or of any other Seller Obligations, hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, the Seller any Insolvency Proceeding until one year and one day after the Final Payout Date; provided, that the Administrative Agent may take any such action in its sole discretion following the occurrence of an Event of Termination. .
(b) The provisions of this Section 13.05 shall survive any termination of this Agreement.
Appears in 1 contract
Sources: Receivables Purchase Agreement (MSC Industrial Direct Co Inc)
No Proceedings; Limitation on Payments. Each of the Servicer, each Purchaser, each Purchaser and each assignee of Capital or any Yield thereof or of any other Seller Obligations, hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, the Seller any Insolvency Proceeding until one year and one day after the Final Payout Date; provided, that the Administrative Agent may take any such action in its sole discretion following the occurrence of an Event of TerminationDefault. The provisions of this Section 13.05 shall survive any termination of this Agreement.
Appears in 1 contract
No Proceedings; Limitation on Payments. (a) Each of the Master Servicer, each Purchaserthe Administrative Agent, each Purchaser and each assignee of Capital or any Yield thereof or of any other Seller Obligations, hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, the Seller any Insolvency Proceeding until one year and one day after the Final Payout Date; provided, that the Administrative Agent may take any such action in its sole discretion following the occurrence of an Event of Termination. .
(b) The provisions of this Section 13.05 shall survive any termination of this Agreement.
Appears in 1 contract