Common use of Credit Default Clause in Contracts

Credit Default. One of the following credit defaults -------------- occurs: (i) Tenant commences any proceeding under any law relating to bankruptcy, insolvency, reorganization or relief of debts, or seeks appointment of a receiver, trustee, custodian or other similar official for the Tenant or for any substantial part of its property, or any such proceeding is commenced against Tenant and either remains undismissed for a period of thirty (30) days or results in the entry of an order for relief against Tenant which is not fully stayed within seven (7) days after entry; (ii) Tenant becomes insolvent or bankrupt, does not generally pay its debts as they become due, or admits in writing its inability to pay its debts, or makes a general assignment for the benefit of creditors; (iii) Any third party obtains a levy or attachment under process of law against Tenant's leasehold interest; and

Credit Default. One of the following credit defaults -------------- occurs: (i) Tenant commences any proceeding under any law relating to bankruptcy, insolvency, reorganization or relief of debts, or seeks appointment of a receiver, trustee, custodian or other similar official for the Tenant or for any substantial part of its property, or any such proceeding is commenced against Tenant and either remains undismissed for a period of thirty (30) days or results in the entry of an order for relief against Tenant which is not fully stayed within seven (7) days after entry; (ii) Tenant becomes insolvent or bankrupt, does not generally pay its debts as they become due, or admits in writing its inability to pay its debts, or makes a general assignment for the benefit of creditors;; or (iii) Any third party obtains a levy or attachment under process of law against Tenant's ’s leasehold interest; and.

Credit Default. One of the following credit defaults -------------- occurs: (ia) Tenant commences any proceeding under any law relating to bankruptcy, insolvency, reorganization or relief of debts, or seeks appointment of a receiver, trustee, custodian or other similar official for the Tenant or for any substantial part of its property, or any such proceeding is commenced against Tenant and either remains undismissed for a period of thirty (30) days or results in the entry of an order for relief against Tenant which is not fully stayed within seven (7) days after entry; (iib) Tenant becomes insolvent or bankrupt, does not generally pay its debts as they become due, or admits in writing its inability to pay its debts, or makes a general assignment for the benefit of creditors; (iiic) Any third party obtains a levy or attachment under process of law against Tenant's leasehold interest; and.

Credit Default. One of the following credit defaults -------------- occurs: (i1) Tenant commences any proceeding under any law relating to bankruptcy, insolvency, reorganization reorganization, or relief of debts, or seeks appointment of a receiver, trustee, custodian custodian, or other similar official for the Tenant or for any substantial part of its property, or any such proceeding is commenced against Tenant and either remains undismissed for a period of thirty sixty (3060) days or results in the entry of an order for relief against Tenant which is not fully stayed within seven fifteen (715) days after entry; (ii2) Tenant becomes insolvent or bankrupt, does not generally pay its debts as they become due, or admits in writing its inability to pay its debts, or makes a general assignment for the benefit of creditors; (iii3) Any third party obtains a levy or attachment under process of law against Tenant's ’s leasehold interest; andor (4) Tenant makes a general assignment for the benefit of creditors.

Credit Default. One of the following credit defaults -------------- occurs:: --------------- (i) Tenant commences any proceeding under any law relating to bankruptcy, insolvency, reorganization or relief of debts, or seeks appointment of a receiver, trustee, custodian or other similar official for the Tenant or for any substantial part of its property, or any such proceeding is commenced against Tenant and either remains undismissed for a period of thirty (30) days or results in the entry of an order for relief against Tenant which is not fully stayed within seven (7) days after entry; (ii) Tenant becomes insolvent or bankrupt, does not generally pay its debts as they become due, or admits in writing its inability to pay its debts, or makes a general assignment for the benefit of creditors; (iii) Any third party other than a permitted assignee obtains a levy or attachment under process of law against Tenant's leasehold interest; and.