Bankruptcy and Insolvency Matters. No action or proceeding has been commenced or filed by or against the Buyer which seeks or may lead to bankruptcy or any other similar proceeding in respect of the Buyer. No such action or proceeding has been authorized or is being considered by or on behalf of the Buyer and no creditor or equity security holder of the Buyer has, to the knowledge of the Buyer, threatened to commence or advise that it may commence, any such action or proceeding;
Bankruptcy and Insolvency Matters. (a) Company and each Seller Subsidiary shall commence the Chapter 11 Case, file the U.S. Sale Motion, the Bid Procedures Motion, commence the Cayman Insolvency Case and file the Cayman Sale Motion no later than January 4, 2012;
Bankruptcy and Insolvency Matters. No action or proceeding has been commenced or filed by or against BVT which seeks or may lead to receivership, bankruptcy, a consumer proposal or any other similar proceeding in respect of BVT, the adjustment, compromise or composition of claims against BVT or the appointment of a trustee, receiver, liquidator, custodian, or other similar officer for BVT of any portion of its assets. No such action or proceeding has been authorized or is being considered by or on behalf of BVT and, to the knowledge of BVT, no creditor or equity security holder of BVT has threatened to commence or advised that it may commence, any such action or proceeding. BVT has not made nor is it considering making an assignment for the benefit of its creditors, and it has not requested nor is it considering requesting a meeting of its creditors to seek a reduction, compromise, composition, or other accommodation with respect to its indebtedness.
Bankruptcy and Insolvency Matters. Seller is not Bankrupt and there are no proceedings pending or being contemplated by it or, to the best of Seller’s Knowledge, threatened against it, in each case, which could reasonably be expected to result in it being or, after giving effect to the consummation of the Transactions, becoming Bankrupt. After giving effect to the consummation of the Transactions, the fair value of the assets of Seller exceed its liabilities and the capital of Seller will not be impaired.
Bankruptcy and Insolvency Matters. No action or proceeding has been commenced or filed by or against Pengrowth which seeks or could reasonably be expected to lead to: (i) receivership, bankruptcy, a commercial proposal or similar proceeding of Pengrowth; (ii) the adjustment or compromise of claims against Pengrowth; or (iii) the appointment of a trustee, receiver, liquidator, custodian or other similar officer for Pengrowth or any portion of its assets, and no such action or proceeding has been authorized or is being considered by or on behalf of Pengrowth and no creditor or securityholder has threatened to commence or advised that it may commence, any such action or proceeding; and Pengrowth has not made, or is considering making, an assignment for the benefit of its creditors.
Bankruptcy and Insolvency Matters. No action or proceeding has been commenced or filed by or against UQ or which seek or may lead to receivership, bankruptcy, a consumer proposal or any other similar proceeding in respect of UQ, the adjustment, compromise or composition of claims against UQ or the appointment of a trustee, receiver, liquidator, custodian, or other similar officer for UQ of any portion of its assets. No such action or proceeding has been authorized or is being considered by or on behalf of UQ and, to the knowledge of UQ, no creditor or equity security holder of UQ has threatened to commence or advised that it may commence, any such action or proceeding. UQ has not made nor is considering making an assignment for the benefit of its creditors, and it has not requested nor is considering requesting a meeting of its creditors to seek a reduction, compromise, composition, or other accommodation with respect to its indebtedness.
Bankruptcy and Insolvency Matters. (a) No action or proceeding has been commenced or filed by or against Profound or which seeks or may lead to receivership, bankruptcy, a commercial proposal or similar proceeding of Profound, the adjustment or compromise of claims against it or the appointment of a trustee, receiver, liquidator, custodian or other similar officer for Profound or any portion of its assets. No such action or proceeding has been authorized or is being considered by or on behalf of Profound and no creditor or equity securityholder of Profound has threatened to commence or advised that it may commence, any such action or proceeding.
Bankruptcy and Insolvency Matters. To the knowledge of Target: (i) no action or proceeding has been commenced or filed by or against Target which seeks or may lead to: (A) receivership, bankruptcy, a commercial proposal or similar proceeding of Target; (B) the adjustment or compromise of claims against Target; or (C) the appointment of a trustee, receiver, liquidator, custodian or other similar officer for Target, and no such action or proceeding has been authorized or is being considered by or on behalf of Target and no creditor or securityholder of Target has threatened to commence or advised that it may commence, any such action or proceeding; and (ii) Target has not: (A) made, and is not considering making, an assignment for the benefit of its creditors; and
Bankruptcy and Insolvency Matters. No action or proceeding has been commenced or filed by or against Loon or which seek or may lead to receivership, bankruptcy, a consumer proposal or any other similar proceeding in respect of Xxxx, the adjustment, compromise or composition of claims against Loon or the appointment of a trustee, receiver, liquidator, custodian, or other similar officer for Loon of any portion of the Loon Assets. No such action or proceeding has been authorized or is being considered by or on behalf of Loon and no creditor or equity security holder of Loon has threatened to commence or advise that it may commence, any such action or proceeding. Xxxx has not made nor is considering making an assignment for the benefit of its creditors, and it has not requested nor is considering requesting a meeting of its creditors to seek a reduction, compromise, composition, or other accommodation with respect to its indebtedness.
Bankruptcy and Insolvency Matters. Neither Seller nor Dynegy is Bankrupt and there are no claims or proceedings pending or being contemplated by either of them or, to Seller’s Knowledge, threatened against either of them which could reasonably be expected to result in it being or, after giving effect to the consummation of the Transactions, becoming Bankrupt. After giving effect to the consummation of the Transactions, the Fair Value and Present Fair Salable Value of the assets of each of Seller and Dynegy exceed their respective Stated Liabilities and Identified Contingent Liabilities, and the capital of each of Seller and Dynegy shall not be impaired. Each of Seller and Dynegy, after giving effect to the consummation of the Transactions, (i) has sufficient assets and cash flow to pay its Stated Liabilities and Identified Contingent Liabilities as those liabilities mature or otherwise become payable, (ii) will not be insolvent, (iii) will not be left with unreasonably small capital, and (iv) will not have incurred debts beyond its ability to pay such debts as they mature or otherwise become payable.
