INSOLVENCY, BANKRUPTCY OR RECEIVERSHIP a. You shall immediately notify the DOE of the occurrence of any of the following events: (i) you or your parent's filing of a voluntary case seeking liquidation or reorganization under the Bankruptcy Act; (ii) your consent to the institution of an involuntary case under the Bankruptcy Act against you or your parent; (iii) the filing of any similar proceeding for or against you or your parent, or its consent to, the dissolution, winding-up or readjustment of your debts, appointment of a receiver, conservator, trustee, or other officer with similar powers over you, under any other applicable state or federal law; or (iv) your insolvency due to your inability to pay your debts generally as they become due.
INSOLVENCY, BANKRUPTCY OR RECEIVERSHIP. A. The Recipient shall immediately, but no later than five days, notify EERE of the occurrence of any of the following events: (1) the Recipient or the Recipient’s parent’s filing of a voluntary case seeking liquidation or reorganization under the Bankruptcy Act; (2) the Recipient’s consent to the institution of an involuntary case under the Bankruptcy Act against the Recipient or the Recipient’s parent; (3) the filing of any similar proceeding for or against the Recipient or the Recipient’s parent, or the Recipient’s consent to the dissolution, winding-up or readjustment of its debts, appointment of a receiver, conservator, trustee, or other officer with similar powers over the Recipient, under any other applicable state or Federal law; or (4) the Recipient’s insolvency due to its inability to pay debts generally as they become due.
INSOLVENCY, BANKRUPTCY OR RECEIVERSHIP. 24.01 Recipient shall immediately notify the DOE Administrator identified in Block 26 of this Agreement cover page of the occurrence of any of the following events: (i) Recipient or Recipient’s parent’s filing of a voluntary case seeking liquidation or reorganization under the Bankruptcy Act; (ii) Recipient’s consent to the institution of an involuntary case under the Bankruptcy Act against Recipient or Recipient’s parent; (iii) the filing of any similar proceeding for or against Recipient or Recipient’s parent, or its consent to, the dissolution, winding-up or readjustment of Recipient’s debts, appointment of a receiver, conservator, trustee, or other officer with similar powers over Recipient, under any other applicable state or federal law; or (iv) Recipient’s insolvency due to Recipient’s inability to pay Recipient’s debts generally as they become due.
INSOLVENCY, BANKRUPTCY OR RECEIVERSHIP a. The Awardee shall immediately notify the DOE Administrator identified on the Assistance Agreement Cover Page of the occurrence of any of the following events: (i) the Awardee, or the Awardee’s parent’s filing of a voluntary case seeking liquidation or reorganization under the Bankruptcy Act; (ii) the Awardee’s consent to the institution of an involuntary case under the Bankruptcy Act against the Awardee or its parent; (iii) the filing of any similar proceeding for or against the Awardee or its parent, or its consent to, the dissolution, winding-up or readjustment of its debts, appointment of a receiver, conservator, trustee, or other officer with similar powers over the Awardee, under any other applicable state or federal law; or (iv) the Awardee’s insolvency due to its inability to pay its debts generally as they become due.
INSOLVENCY, BANKRUPTCY OR RECEIVERSHIP. The Recipient shall immediately notify DOE of: (i) its intent to, or its parent’s intent to, institute a voluntary case seeking liquidation or reorganization under the Bankruptcy Act; (ii) its consent to the institution of an involuntary case under the Bankruptcy Act against it; (iii) the filing of any similar proceeding for or against the Recipient or its parent, or its consent to, the dissolution, winding-up, or readjustment of Recipient’s debts, appointment of a receiver, conservator, trustee, or other officer with similar powers over the Recipient, under any other applicable state or Federal law; or (iv) the insolvency of the Recipient due to its inability to pay its debts generally as they become due. DOE can unilaterally suspend payments under this Award, or if determined necessary, can unilaterally terminate this Award if reasonable cause exists for DOE to believe that the Recipient is insolvent due to facts which indicate the Recipient is unable to pay its obligations as they mature in the ordinary course of business, or if the Recipient, its parent, or creditors of the recipient, files a petition in bankruptcy against it, or if a court of competent jurisdiction appoints a receiver, trustee, liquidator or conservator with control over the business affairs of the recipient. In such instances, DOE may terminate the award in whole or in part, or suspend payments, if it is determined in the best interests of DOE to do so.
INSOLVENCY, BANKRUPTCY OR RECEIVERSHIP. In the event that either party: (i) makes an assignment for the benefit of creditors; or (ii) has a petition initiating a proceeding under the Bankruptcy Code or its amendments filed by or against it, and such petition is not set aside or dismissed within one hundred twenty (120) days after such filing; or (iii) files any proceedings for liquidation or dissolution or has a receiver, trustee or custodian appointed for all or part of its assets, the other party may terminate this Agreement immediately upon written notice to the financially troubled party effective on the date of such notice. The parties acknowledge and agree that, in the event of a bankruptcy by either party, cause exists under the terms and circumstances of this Agreement for the court to require debtor under Section 365(d) of the Bankruptcy Code to make a decision to assume or reject this Agreement within one hundred twenty (120) days of the petition date. The parties also agree that the intent of the parties pursuant to this agreement is that any debts owed by any debtor in a Chapter 11 reorganization cannot be bifurcated and assigned to certain assets or stores. The entire estate in any reorganization pursuant to the bankruptcy code or any assets placed into receivership shall be indivisibly bound by MBM’s credit terms and the terms of this agreement.
INSOLVENCY, BANKRUPTCY OR RECEIVERSHIP. In the event that the Licensee fails to make payment when due or enters into a state of insolvency, bankruptcy or receivership, or allows the insurance required under provision #8 above to cancel, this license agreement will be in default. The Studio may terminate this license agreement and immediately repossess the “Equipment” and demand that Licensee vacate the facility premises without any prior notice to the Licensee, the receiver, bankruptcy trustee, assignee for the benefit of the creditors, or levying officer. The Studio is granted permission to enter the premises where the “EQUIPMENT” is located when a bankruptcy or default occurs for the purpose of repossessing the “EQUIPMENT” without liability of trespass or any damage that might occur as a result of such entry.
INSOLVENCY, BANKRUPTCY OR RECEIVERSHIP. 24.01 You shall immediately notify the DOE Administrator identified in Block 12 of the Notice of Financial Assistance Award of the occurrence of any of the following events: (i) you or your parent’s filing of a voluntary case seeking liquidation or reorganization under the Bankruptcy Act; (ii) your consent to the institution of an involuntary case under the Bankruptcy Act against you or your parent; (iii) the filing of any similar proceeding for or against you or your parent, or its consent to, the dissolution, winding-up or readjustment of your debts, appointment of a receiver, conservator, trustee, or other officer with similar powers over you, under any other applicable state or federal law; or (iv) your insolvency due to your inability to pay your debts generally as they become due.
INSOLVENCY, BANKRUPTCY OR RECEIVERSHIP a. You shall immediately notify the DOE of the occurrence of any of the following events: (i) you or your parent's filing of a voluntary case seeking liquidation or reorganization under the Bankruptcy Act; (ii) your consent to the institution of an involuntary case under the Bankruptcy Act against you or your parent;
INSOLVENCY, BANKRUPTCY OR RECEIVERSHIP a. The Borrower shall immediately notify the Lender of any of the following events: (i) the Borrower filing of a voluntary case seeking liquidation or reorganization under the Bankruptcy Act; (ii) the Borrower’s consent to the institution of an involuntary case under the Bankruptcy Act against the Borrower; (iii) the filing of any similar proceeding for or against the Borrower, or the Borrower’s consent to, the dissolution, winding-up or readjustment of your debts, appointment of a receiver, conservator, trustee, or other officer with similar powers over the Borrower, under any other applicable state or federal law; or (iv) the Borrower’s insolvency due to the Borrower’s inability to pay its debts generally as they become due. Borrower shall initial each page here [______] [______]
