Common use of Creditors’ process Clause in Contracts

Creditors’ process. The Issuer or any Material Subsidiary has a substantial portion of its assets impounded, confiscated, attached or subject to distraint, or is subject to enforcement of any security over any substantial portion of its assets.

Appears in 7 contracts

Sources: Bond Agreement (Teekay LNG Partners L.P.), Bond Agreement (Teekay Offshore Partners L.P.), Bond Agreement (Teekay LNG Partners L.P.)

Creditors’ process. The Issuer or any Material Subsidiary has a substantial portion proportion of its the assets impounded, confiscated, attached or subject to distraint, or is subject to enforcement of any security over any substantial portion of its assets.

Appears in 4 contracts

Sources: Bond Agreement (Ship Finance International LTD), Bond Agreement (Ship Finance International LTD), Bond Agreement

Creditors’ process. The Issuer or any Material Subsidiary has a substantial portion proportion of its the assets impounded, confiscated, attached or subject to distraint, or is subject to enforcement of any security Security over any substantial portion of its assets.

Appears in 3 contracts

Sources: Bond Agreement, Bond Agreement (Ship Finance International LTD), Bond Agreement (Ship Finance International LTD)

Creditors’ process. The Issuer or any Material Subsidiary has a substantial portion proportion of its the assets impounded, confiscated, attached or subject to distraint, or is subject to enforcement of any security over any substantial portion of its assets.

Appears in 2 contracts

Sources: Bond Agreement, Bond Agreement (Pacific Drilling S.A.)

Creditors’ process. The Issuer or any Material Subsidiary has a substantial portion proportion of its the assets impounded, confiscated, attached or subject to distraint, or is subject to enforcement of any security Security over any substantial portion of its assets.

Appears in 1 contract

Sources: Bond Agreement (Ocean Rig UDW Inc.)

Creditors’ process. The Issuer or any Material Subsidiary has a substantial portion proportion of its the assets impounded, confiscated, attached or subject to distraint, or is subject to enforcement of any security over any substantial portion of its assetsassets based on a monetary claim exceeding NOK 100 million or its equivalent in other currencies and is not discharged within 60 days.

Appears in 1 contract

Sources: Bond Agreement

Creditors’ process. The Issuer or any Material Subsidiary has a substantial portion proportion of its assets impounded, confiscated, attached or subject to distraint, or is subject to enforcement of any security over any substantial portion of its assets.

Appears in 1 contract

Sources: Bond Agreement (North Atlantic Drilling Ltd.)

Creditors’ process. The Issuer or any Material Restricted Subsidiary has a substantial portion of its assets impounded, confiscated, attached or subject to distraint, or is subject to enforcement of any security over any substantial portion of its assets.

Appears in 1 contract

Sources: Bond Agreement (Teekay Corp)