Common use of Bankruptcy and Insolvency Clause in Contracts

Bankruptcy and Insolvency. In the event of the bankruptcy or insolvency of the Assured or any entity comprising the Assured, the Underwriter shall not be relieved thereby of the payment of any claims hereunder because of such bankruptcy or insolvency.

Bankruptcy and Insolvency. In the event of the bankruptcy or insolvency of the Named Insured, its Assured or any entity comprising the Assuredeither of them, the Underwriter shall not be relieved thereby of the payment of any claims hereunder because of such bankruptcy or insolvency.