Default for Insolvency Sample Clauses

Default for Insolvency. COUNTY may terminate this Contract for default for insolvency in the event of the occurrence of any of the following:
Sample 1Sample 2Sample 3See All (29)
AutoNDA by SimpleDocs
Default for Insolvency. Franchisee will be in default if Franchisee becomes insolvent or makes an assignment for the benefit of creditors; if a petition in bankruptcy is filed by Franchisee or if such a petition is filed against and consented to by Franchisee or is not dismissed within thirty (30) days; if Franchisee is adjudicated as bankrupt; if a bill in equity or other proceeding for the appointment of a receiver of Franchisee or other custodian for Franchisee’s business or assets is filed and is consented to by Franchisee or is not dismissed within thirty (30) days; if a receiver or other custodian is appointed, or if proceeding for composition with the creditors under any state or federal law is instituted by or against Franchisee; or if the real or personal property of Franchisee is sold at levy thereupon by any sheriff, marshal, or constable. Each of the foregoing is an “Insolvency Event.”
Sample 1Sample 2
Default for Insolvency. 18.1 COUNTY may cancel this Contract f or default in the event of the occurrence of any of the following:
Sample 1
Default for Insolvency. 20.01 City, through its Director of the Park, Recreation or Community Services Department or his designee, may immediately terminate this Agreement for default in the event of the occurrence of any of the following:
Sample 1
Default for Insolvency. 26 COUNTY may cancel this AGREEMENT for default in the event of:
Sample 1

Related to Default for Insolvency

  • Termination for Insolvency The Procuring Entity may at any time terminate the Contract by giving notice to the Supplier if the Supplier becomes bankrupt or otherwise insolvent. In such event, termination will be without compensation to the Supplier, provided that such termination will not prejudice or affect any right of action or remedy that has accrued or will accrue thereafter to the Procuring Entity

  • Bankruptcy or Insolvency If the Borrower, Grantor or any Guarantor: (i) becomes insolvent, or makes a transfer in fraud of creditors, or makes an assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due; (ii) generally is not paying its debts as such debts become due; (iii) has a receiver, trustee or custodian appointed for, or take possession of, all or substantially all of the assets of such party or any of the Collateral, either in a proceeding brought by such party or in a proceeding brought against such party and such appointment is not discharged or such possession is not terminated within sixty (60) days after the effective date thereof or such party consents to or acquiesces in such appointment or possession; (iv) files a petition for relief under the United States Bankruptcy Code or any other present or future federal or state insolvency, bankruptcy or similar laws (all of the foregoing hereinafter collectively called "Applicable Bankruptcy Law") or an involuntary petition for relief is filed against such party under any Applicable Bankruptcy Law and such involuntary petition is not dismissed within sixty (60) days after the filing thereof, or an order for relief naming such party is entered under any Applicable Bankruptcy Law, or any composition, rearrangement, extension, reorganization or other relief of debtors now or hereafter existing is requested or consented to by such party; (v) fails to have discharged within a period of sixty (60) days any attachment, sequestration or similar writ levied upon any property of such party; or (vi) fails to pay within thirty (30) days any final money judgment against such party.

Time is Money Join Law Insider Premium to draft better contracts faster.