Death, Bankruptcy or Insolvency Sample Clauses

Death, Bankruptcy or Insolvency the death, bankruptcy or insolvency of an Obligor, the Guarantor will, as an independent obligation, pay to the Lender on demand the amount which the Lender would otherwise have been able to recover (on a full indemnity basis). This means the Guarantor agrees to be personally liable for repayment of the Loan even if the Lender is prevented, for some technical reason, from enforcing its rights under this Agreement.
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Death, Bankruptcy or Insolvency the death, bankruptcy or insolvency of an Obligor, the Guarantor will, as an independent obligation, pay to NBS on demand the amount which we would otherwise have been able to recover (on a full indemnity basis). This means the Guarantor agrees to be personally liable for repayment of the Loan even if NBS is prevented, for some technical reason, from enforcing its rights under the Agreement.
Sample 1

Related to Death, Bankruptcy or Insolvency

  • Bankruptcy; Insolvency The Lessee agrees that in the event all or a substantial portion of the Lessee’s assets are placed in the hands of a receiver or a Trustee, and such status continues for a period of 30 days, or should the Lessee make an assignment for the benefit of creditors or be adjudicated bankrupt; or should the Lessee institute any proceedings under the bankruptcy act or any amendment thereto, then such Lease or interest in and to the leased Premises shall not become an asset in any such proceedings and, in such event, and in addition to any and all other remedies of the Lessor hereunder or by law provided, it shall be lawful for the Lessor to declare the term hereof ended and to re-enter the leased land and take possession thereof and all improvements thereon and to remove all persons therefrom and the Lessee shall have no further claim thereon.

  • Death, Incompetency, or Bankruptcy of Member On the death, adjudicated incompetence, or bankruptcy of a Member, unless the Company exercises its rights under Section 8.5, the successor in interest to the Member (whether an estate, bankruptcy trustee, or otherwise) will receive only the economic right to receive distributions whenever made by the Company and the Member's allocable share of taxable income, gain, loss, deduction, and credit (the "Economic Rights") unless and until a majority of the other Members determined on a per capita basis admit the transferee as a fully substituted Member in accordance with the provisions of Section 8.3.

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