Common use of Condition of Borrowers or Guarantors Clause in Contracts

Condition of Borrowers or Guarantors. The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of any Borrower, either or both Guarantors or any other Person at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of any Borrower or either or both Guarantors or any sale, lease or transfer of any or all of the assets of any Borrower or either or both Guarantors or any changes in the direct or indirect shareholders, partners or members, as applicable, of any Borrower or either or both Guarantors; or any reorganization of any Borrower or either or both Guarantors.

Condition of Borrowers or Guarantors. The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of any Borrower, either or both Guarantors any Guarantor or any other Person party at any time liable for the payment or performance of all or part of the Guaranteed Obligations; or any dissolution of any Borrower or either or both Guarantors any Guarantor or any sale, lease or transfer of any or all of the assets of any Borrower or either or both Guarantors any Guarantor or any changes in the direct or indirect shareholders, partners or members, as applicable, members of any Borrower or either or both Guarantorsany Guarantor; or any reorganization of any Borrower or either or both Guarantorsany Guarantor.