Common use of Compromises Clause in Contracts

Compromises. No voluntary arrangement, compromise, composition, scheme of arrangement, standstill agreement, deferral, rescheduling or other readjustment or reorganisation or other arrangement between any Group Company and its creditors and/or its members (or any class of either of them) has been approved by or proposed in respect of any Group Company.

Compromises. No voluntary arrangement, compromise, composition, scheme of arrangement, standstill agreement, deferral, rescheduling or other readjustment or reorganisation or other arrangement between any Group Company and its creditors and/or its members (or any class of either of them) (or any equivalent or similar procedure under the Laws of any jurisdiction in which a Group Company is incorporated or carries on the Business or has assets) has been proposed or approved by or proposed in respect of any Group Company.