Common use of Administration and receivership Clause in Contracts

Administration and receivership. No Person has taken any step, legal proceeding or other procedure with a view to the appointment of an administrator, manager, custodian or other similar official, whether out of court or otherwise, in relation to such Party in respect of the whole or any part of any of the Assets and/or undertaking of such Party’s Contributed Business nor has any Order been made (including, in any relevant jurisdiction, any other Order by which, during the period it is in force, the affairs, business and Assets of the company concerned are managed by a Person appointed for the purpose by a Governmental Authority).