Common use of Distributions in Liquidation and Bankruptcy Clause in Contracts

Distributions in Liquidation and Bankruptcy. In the event of any ------------------------------------------- distribution, division or application, partial or complete, voluntary or involuntary, by operation of law or otherwise, of all or any part of the assets of the Company or the proceeds thereof (including any assets now or hereafter securing any Management Fees) to creditors of the Company or upon any indebtedness of the Company, by reason of the liquidation, dissolution or other winding up, partial or complete, of the Company, or any receivership, insolvency or bankruptcy proceeding, or assignment for the benefit of creditors or marshalling of assets, or any proceeding by or against the Company for any relief under any bankruptcy or insolvency law or laws relating to the relief of debtors, readjustment of indebtedness, arrangements, reorganizations, compositions or extensions (each of the foregoing, a "Liquidation Event"), then and in any such event:

Distributions in Liquidation and Bankruptcy. In the event of any ------------------------------------------- distribution, division or application, partial or complete, voluntary or involuntary, by operation of law or otherwise, of all or any part of the assets of the Company or the proceeds thereof (including any assets now or hereafter securing any Management FeesSubordinated Obligations) to creditors of the Company or upon any indebtedness of the Company, by reason of the liquidation, dissolution or other winding up, partial or complete, of the Company, or any receivership, insolvency or bankruptcy proceeding, or assignment for the benefit of creditors or marshalling of assets, or any proceeding by or against the Company for any relief under any bankruptcy or insolvency law or laws relating to the relief of debtors, readjustment of indebtedness, arrangements, reorganizations, compositions or extensions (each extensions, or sale of all or substantially all of the foregoing, a "Liquidation Event")assets of the Company, then and in any such event:

Distributions in Liquidation and Bankruptcy. In the event of any ------------------------------------------- distribution, division or application, partial or complete, voluntary or involuntary, by operation of law or otherwise, of all or any part of the assets of the Company or the proceeds thereof (including any assets now or hereafter securing any Management Fees) to for the benefit of creditors of the Company or upon to satisfy any indebtedness of the Company, by reason of the liquidation, dissolution or other winding winding-up, partial or complete, of the Company, or any receivership, insolvency or bankruptcy proceeding, or assignment for the benefit of creditors or marshalling of assets, or any proceeding by or against the Company for any relief under any bankruptcy or insolvency law or laws relating to the relief of debtors, readjustment of indebtedness, arrangements, reorganizations, compositions or extensions (each of the foregoing, a "Liquidation Event"), then and in any such event:

Distributions in Liquidation and Bankruptcy. In the event of any ------------------------------------------- distribution, division or application, partial or complete, voluntary or involuntary, by operation of law or otherwise, of all or any part of the assets of the Company or the proceeds thereof (including any assets now or hereafter securing any Management FeesSubordinated Obligations) to creditors of the Company or upon any indebtedness of the Company, by reason of the liquidation, dissolution or other winding up, partial or complete, of the Company, or any receivership, insolvency or bankruptcy proceeding, or assignment for the benefit of creditors or marshalling of assets, or any proceeding by or against the Company for any relief under any bankruptcy or insolvency law or laws relating to the relief of debtors, readjustment of indebtedness, arrangements, reorganizations, compositions or extensions (each extensions, or sale of all or substantially all of the foregoing, a "Liquidation Event")assets of Borrower, then and in any such event: