Common use of Host Default Clause in Contracts

Host Default. The following events shall be defaults with respect to Host so long as continuing (each, a “Host Default”): i. Host shall (A) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property; (B) admit in writing its inability, or be generally unable, to pay its debts as such debts become due;