Bankruptcy; Receivership. Subtenant agrees that if Subtenant shall make any assignments for the benefit of creditors or shall be adjudged bankrupt, or if a receiver is appointed for Subtenant, its assets, or Subtenant’s interest under this Sublease, and if the appointment of such receiver, if involuntary, is not vacated within thirty (30) days, or if Subtenant shall file or have filed against it a petition under any of the provisions of the U. S. Bankruptcy Code or any amendment thereof, and such petition, if involuntary, is not vacated within thirty (30) days, then Sublandlord may, upon giving Subtenant ten (10) days’ notice, terminate this Sublease.
Bankruptcy; Receivership. Notwithstanding the cure periods set forth in Sections 8.2 and 8.3 above, LICENSOR may terminate this Agreement immediately if LICENSEE ceases or suspends doing business or becomes subject to any proceeding under applicable liquidation, insolvency, bankruptcy, reorganization or similar laws or LICENSEE makes a conveyance or assignment for the benefit of its creditors.
Bankruptcy; Receivership. Notwithstanding any other provision in this Agreement, Developer shall be considered in default and the City may, at its sole discretion, suspend its obligations or may determine this Agreement to have immediately terminated for all parties, with or without notice, upon the appointment of a receiver of Developer, or of all or any substantial part of the Property or the Project, and the failure of such receiver to be discharged within sixty (60) days thereafter.
Bankruptcy; Receivership. (a) Any governmental authority shall: (i) adjudicate Seller a debtor in bankruptcy; (ii) appoint a trustee or receiver for all or a substantial part of the property of Seller; (iii) approve a petition for bankruptcy or reorganization pursuant to federal bankruptcy law for Seller; (b) Seller shall make an assignment for the benefit of creditors, or make an admission of inability to pay its debts generally as they become due; or (c) the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation or any other governmental authority having jurisdiction over Seller shall assume control of or appoint a conservator or receiver for all or substantially all of the assets of Seller;
Bankruptcy; Receivership. (A) Any Governmental Authority shall: (1) adjudicate Subservicer a debtor in bankruptcy; (2) appoint a trustee or receiver for all or a substantial part of the property of Subservicer; or (3) approve a petition for bankruptcy or reorganization pursuant to applicable federal or state bankruptcy law for Subservicer;
Bankruptcy; Receivership. Either Licensee or Licensor may terminate this Agreement upon notice to the other if the other party is adjudged bankrupt, applies for judicial or extra-judicial settlement with its creditors, makes an assignment for the benefit of its creditors, voluntarily files for bankruptcy or has a receiver or trustee (or the like) in bankruptcy appointed by reason of its insolvency, or if the other party becomes the subject of liquidation or dissolution proceedings or otherwise discontinues business, provided that with respect to all involuntary proceedings or appointments or actions filed against a party, such proceeding is not dismissed within ninety (90) days.
Bankruptcy; Receivership. By Buyer, if any of the following ------------------------ events shall have occurred with respect to Company or Shareholder: (i) it has been adjudicated a bankrupt or insolvent or has admitted in writing its inability to pay its debts as they mature or has made an assignment for the benefit of creditors, or has applied for or consented to the appointment of a trustee or receiver for it or for the major part of its property; (ii) a trustee or receiver has been appointed for it or for any part of its property without its consent; or (iii) bankruptcy, reorganization, arrangement or insolvency proceedings, or other proceedings for relief under any bankruptcy or similar law or laws for the relief of creditors, have been instituted by or against it and remain undismissed for 10 days or longer.
Bankruptcy; Receivership. Either Party: (i) files for bankruptcy, receivership, insolvency, reorganization, dissolution, liquidation or any similar Proceeding; (ii) has a bankruptcy, receivership, insolvency, reorganization, dissolution, liquidation or other similar proceeding instituted against it and such proceeding is not dismissed within 60 days; (iii) makes an assignment for the benefit of its creditors or an offer of settlement, extension or composition to its creditors generally; or (iv) a trustee, conservator, receiver or similar fiduciary is appointed for that Party or substantially all of that Party’s assets.
Bankruptcy; Receivership. By Buyer, if any of the following events shall have occurred with respect to Company: (i) it has been adjudicated a bankrupt or insolvent or has admitted in writing its inability to pay its debts as they mature or has made an assignment for the benefit of creditors, or has applied for or consented to the appointment of a trustee or receiver for it or for the major part of its property; (ii) a trustee or receiver has been appointed for it or for any part of its property without its consent and such action is not resolved or canceled within sixty (60) days; or (iii) bankruptcy, reorganization, arrangement or insolvency proceedings, or other proceedings for relief under any bankruptcy or similar law or laws for the relief of creditors, have been instituted by or against it and remain undismissed for 60 days or longer.
Bankruptcy; Receivership. In the event that a Receiver is appointed to, or one or more creditors take possession of all. or substantially all, of the assets of the Licensee, or if Licensee shall make a general assignment for the benefit of creditors. or if any action is taken or suffered by Licensee under any state or Federal insolvency or bankruptcy act, then this Agreement and all of the rights and obligations hereunder (except as otherwise expressly provided by this Agreement) shall immediately, and without notice or need of any further action by any party hereto, terminate.
