Common use of An Event of Bankruptcy is Clause in Contracts

An Event of Bankruptcy is. (a) Tenant’s, a Guarantor’s or any general partner (a “General Partner”) of Tenant’s becoming insolvent, as that term is defined in Title 11 of the United States Code (the “Bankruptcy Code”), or under the insolvency laws of any state (the “Insolvency Laws”); (b) appointment of a receiver or custodian for any property of Tenant, a Guarantor or a General Partner, or the institution of a foreclosure or attachment action upon any property of Tenant, a Guarantor or a General Partner; (c) filing of a voluntary petition by Tenant, a Guarantor or a General Partner under the provisions of the Bankruptcy Code or Insolvency Laws; (d) filing of any involuntary petition against Tenant, a Guarantor or a General Partner as the subject debtor under the Bankruptcy Code or Insolvency Laws, which either (1) is not dismissed within ninety (90) days after filing, or (2) results in the issuance of an order for relief against the debtor; or (e) Tenant’s, a Guarantor’s or a General Partner’s making or consenting to an assignment for the benefit of creditors or a composition of creditors.

Appears in 1 contract

Samples: Lease Agreement (Saflink Corp)

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An Event of Bankruptcy is. (a) Tenant’s's, a Guarantor’s 's or any general partner (a "General Partner") of Tenant’s 's becoming insolvent, as that term is defined in Title 11 of the United States Code (the "Bankruptcy Code"), or under the insolvency laws of any state (the "Insolvency Laws"); (b) appointment of a receiver or custodian for any property of Tenant, a Guarantor or a General Partner, or the institution of a foreclosure or attachment action upon any property of Tenant, a Guarantor or a General Partner; (c) filing of a voluntary petition by Tenant, a Guarantor or a General Partner under the provisions of the Bankruptcy Code or Insolvency Laws; (d) filing of any involuntary petition against Tenant, a Guarantor or a General Partner as the subject debtor under the Bankruptcy Code or Insolvency Laws, which either (1) is not dismissed within ninety thirty (9030) days after filing, or (2) results in the issuance of an order for relief against the debtor; or (e) Tenant’s's, a Guarantor’s 's or a General Partner’s 's making or consenting to an assignment for the benefit of creditors or a composition of creditors.

Appears in 1 contract

Samples: Lease Agreement (Arbinet Thexchange Inc)

An Event of Bankruptcy is. (a) Tenant’s's, a Guarantor’s 's or any general partner (a "General Partner") of Tenant’s 's becoming insolvent, as that term is defined in Title 11 of the United States Code code (the "Bankruptcy Code"), or under the insolvency laws of any state (the "Insolvency Laws'); (b) appointment of a receiver or custodian for any property of Tenant, a Guarantor or a General Partner, or the institution of a foreclosure or attachment action upon any property of Tenant, a Guarantor or a General Partner; (c) filing tiling of a voluntary petition by Tenant, a Guarantor or a General Partner under the provisions of the Bankruptcy Code or Insolvency Laws; (d) filing of any involuntary petition against Tenant, a Guarantor or a General Partner as the subject debtor under the Bankruptcy Code or Insolvency Laws, which either (1) is not dismissed within ninety thirty (9030) days after filing, or (2) results in the issuance of an order for relief against the debtor; or (e) Tenant’s's, a Guarantor’s 's or a General Partner’s 's making or consenting to an assignment for the benefit of creditors or a composition of creditors.

Appears in 1 contract

Samples: Lease Agreement (Ipix Corp)

An Event of Bankruptcy is. (a) Tenant’s's, a Guarantor’s 's or any general partner (a “"General Partner") of Tenant’s 's becoming insolvent, as that term is defined in Title 11 II of the United States Code (the "Bankruptcy Code"), or under the insolvency laws of any state (the "Insolvency Laws"); (b) appointment of a receiver or custodian for any property of Tenant, a Guarantor or a General Partner, or the institution of a foreclosure or attachment action upon any property of Tenant, a Guarantor or a General Partner; (c) filing of a voluntary petition by Tenant, a Guarantor or a General Partner under the provisions of the Bankruptcy Code or Insolvency Laws; (d) filing of any an involuntary petition against Tenant, a Guarantor or a General Partner as the subject debtor under the Bankruptcy Code or Insolvency Laws, which either (1) is not dismissed within ninety thirty (9030) days after filing, or (2) results in the issuance of an order for relief against the debtor; or (e) Tenant’s, 's a Guarantor’s 's or a General Partner’s 's making or consenting to an assignment for the benefit of creditors or a composition of creditors; or (f) a material and adverse change in the financial condition or status of Tenant, a General Partner or a Guarantor.

Appears in 1 contract

Samples: Lease Agreement (Electronic Retailing Systems International Inc)

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An Event of Bankruptcy is. (a) Tenant’s, a Guarantor’s Guarantor or any general partner (a “General Partner”) of Tenant’s Tenant becoming insolvent, as that term is defined in Title 11 of the United States Code (the “Bankruptcy Code”), or under the insolvency laws of any state (the “Insolvency Laws”); (b) appointment of a receiver or custodian for any property of Tenant, a Guarantor or a General Partner, or the institution of a foreclosure or attachment action upon any property of Tenant, a Guarantor or a General Partner; (c) filing of a voluntary petition by Tenant, a Guarantor or a General Partner under the provisions of the Bankruptcy Code or Insolvency Laws; (d) filing of any an involuntary petition against Tenant, a Guarantor or a General Partner as the subject debtor under the Bankruptcy Code or Insolvency Laws, which either (1) is not dismissed within ninety thirty (9030) days after filing, or (2) results in the issuance of an order for relief against the debtor; or (e) Tenant’s, a Guarantor’s or a General Partner’s making or consenting to an assignment for the benefit of creditors or a composition of creditors.

Appears in 1 contract

Samples: Lease Agreement

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