Common use of Dissolution Proceedings Clause in Contracts

Dissolution Proceedings. Proceedings are commenced for the dissolution, liquidation or winding-up of either of the Borrowers, their Material Subsidiaries or the General Partner unless such proceedings are being actively and diligently contested in good faith by such Borrower, Material Subsidiary or General Partner and such proceedings are stayed within 30 days of being commenced;

Dissolution Proceedings. Proceedings are commenced for the dissolution, liquidation or winding-up of either of the Borrowers, their any of the Material Subsidiaries or the either General Partner Partner, unless such proceedings are being actively and diligently contested in good faith by such Borrower, Material Subsidiary or General Partner thereby and such proceedings are stayed within 30 days of being commenced;