Common use of Insolvency Clause in Contracts

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 115 contracts

Samples: Loan and Security Agreement (Global Telecom & Technology, Inc.), Loan and Security Agreement (Document Sciences Corp), Loan and Security Agreement (Safeguard Scientifics Inc)

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Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 66 contracts

Samples: Loan and Security Agreement (U.S. Auto Parts Network, Inc.), Loan and Security Agreement (Numerex Corp /Pa/), Loan and Security Agreement (XRS Corp)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 44 contracts

Samples: Loan and Security Agreement (Borderfree, Inc.), Loan and Security Agreement (Homology Medicines, Inc.), Loan and Security Agreement (Brightcove Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 34 contracts

Samples: Loan Modification Agreement (Appian Corp), Loan and Security Agreement (Ariosa Diagnostics, Inc.), Loan and Security Agreement (Motus GI Holdings, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 30 contracts

Samples: Subordinated Loan and Security Agreement (Everyday Health, Inc.), Loan and Security Agreement (Axesstel Inc), Loan and Security Agreement (Hansen Medical Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 28 contracts

Samples: Loan and Security Agreement (Encision Inc), Loan and Security Agreement (Iteris, Inc.), Loan and Security Agreement (Interlink Electronics Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 24 contracts

Samples: Loan and Security Agreement (interCLICK, Inc.), Loan and Security Agreement (Kalobios Pharmaceuticals Inc), Loan and Security Agreement (Corium International, Inc.)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 22 contracts

Samples: Loan and Security Agreement (Genzyme Transgenics Corp), Loan and Security Agreement (Art Technology Group Inc), Loan and Security Agreement (Speechworks International Inc)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 15 contracts

Samples: Silicon Valley Bank Loan and Security Agreement (Insignia Solutions PLC), Loan and Security Agreement (Intrusion Inc), Loan and Security Agreement (Cognigen Networks Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 14 contracts

Samples: Loan and Security Agreement (Paradigm Holdings, Inc), Loan and Security Agreement (Cyoptics Inc), Loan and Security Agreement (GigOptix, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 12 contracts

Samples: Loan and Security Agreement (Audience Inc), Loan and Security Agreement (Dot Hill Systems Corp), Loan and Security Agreement (Ardea Biosciences, Inc./De)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) 30 days (but no Credit Extensions shall will be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 11 contracts

Samples: Loan and Security Agreement (Click2learn Com Inc), Loan and Security Agreement (Hearme), Loan and Security Agreement (Preview Systems Inc)

Insolvency. (a) Any Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) any Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against any Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 8 contracts

Samples: Loan and Security Agreement (Covad Communications Group Inc), Loan and Security Agreement (Xata Corp /Mn/), Loan and Security Agreement (Overland Storage Inc)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 7 contracts

Samples: Loan and Security Agreement (Aprimo, INC), Loan and Security Agreement (Infinera Corp), Loan and Security Agreement (Zoom Technologies Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 6 contracts

Samples: Loan and Security Agreement (Active Power Inc), Loan Modification Agreement (Cyoptics Inc), Loan and Security Agreement (Microfluidics International Corp)

Insolvency. (a) A Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) a Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against a Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 6 contracts

Samples: Loan and Security Agreement (Advanced Photonix Inc), Loan and Security Agreement (GOOD TECHNOLOGY Corp), Loan and Security Agreement (GOOD TECHNOLOGY Corp)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty sixty (3060) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 5 contracts

Samples: Loan and Security Agreement (Virage Logic Corp), Loan and Security Agreement (Sajan Inc), Loan and Security Agreement (Sajan Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);.

Appears in 5 contracts

Samples: Loan and Security Agreement (LTX Corp), Loan and Security Agreement (LTX Corp), Loan and Security Agreement (Physiometrix Inc)

Insolvency. (a) Borrower is unable fails to pay its debts (including trade debts) be solvent as they become due or otherwise becomes insolventdescribed under Section 5.6 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 4 contracts

Samples: Loan and Security Agreement (AltheaDx, Inc.), Loan and Security Agreement (AltheaDx, Inc.), Loan and Security Agreement (AltheaDx, Inc.)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower begins an ---------- Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) 30 days (but no Credit Extensions shall will be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 4 contracts

Samples: Loan and Security Agreement (Lantronix Inc), Loan and Security Agreement (Clarus Corp), Loan and Security Agreement (Lantronix Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 4 contracts

Samples: Loan and Security Agreement (Axsome Therapeutics, Inc.), Loan and Security Agreement (Apigee Corp), Loan and Security Agreement (Axsome Therapeutics, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);.

Appears in 4 contracts

Samples: Loan and Security Agreement (ExactTarget, Inc.), Term Loan and Security Agreement (Cavium Networks), Loan and Security Agreement (ClearStory Systems, Inc.)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventmature; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);.

Appears in 4 contracts

Samples: Loan and Security Agreement (Cadence Pharmaceuticals Inc), Loan and Security Agreement (3PAR Inc.), Loan and Security Agreement (TorreyPines Therapeutics, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed)days;

Appears in 4 contracts

Samples: Loan and Security Agreement (Angie's List, Inc.), Loan and Security Agreement (Titan Pharmaceuticals Inc), Mezzanine Loan and Security Agreement (Xactly Corp)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventbreaches the representation and warranty set forth in Section 5.5 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 4 contracts

Samples: Loan and Security Agreement (Nupathe Inc.), Loan and Security Agreement (Nupathe Inc.), Loan and Security Agreement (Nupathe Inc.)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 4 contracts

Samples: Loan and Security Agreement (NMS Communications Corp), Loan and Security Agreement (Open Solutions Inc), Loan and Security Agreement (Stereotaxis, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (30) days 45)days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);.

Appears in 4 contracts

Samples: Term Loan and Security Agreement (A123 Systems Inc), Loan Modification Agreement (A123 Systems, Inc.), Loan Modification Agreement (A123 Systems, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty sixty (3060) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Forescout Technologies, Inc), Loan and Security Agreement (Forescout Technologies, Inc), Loan Agreement (Net Element International, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; insolvent (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Marin Software Inc), Loan and Security Agreement (Marin Software Inc), Loan and Security Agreement (Marin Software Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Ignyta, Inc.), Loan and Security Agreement (Anacor Pharmaceuticals Inc), Loan and Security Agreement (Ignyta, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventinsolvent (determined with reference to Section 5.5 hereof); (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Omeros Corp), Loan and Security Agreement (Omeros Corp), Loan and Security Agreement (Omeros Corp)

Insolvency. (a) Any Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) any Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against any Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (U S Wireless Data Inc), Loan and Security Agreement (Sunrise Telecom Inc), Loan and Security Agreement (Healthaxis Inc)

Insolvency. (a) Any Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (b) any Borrower voluntarily begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against such Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Ultra Clean Holdings Inc), Loan and Security Agreement (Ultra Clean Holdings Inc), Loan and Security Agreement (Ultra Clean Holdings Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Array Biopharma Inc), Loan and Security Agreement (Marin Software Inc), Loan and Security Agreement (Array Biopharma Inc)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Telular Corp), Loan and Security Agreement (A123 Systems Inc), Loan and Security Agreement (Infinera Corp)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty sixty (3060) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Glu Mobile Inc), Loan and Security Agreement (ChemoCentryx, Inc.), Loan and Security Agreement (Glu Mobile Inc)

Insolvency. (a) a Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) a Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against a Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Alphatec Holdings, Inc.), Loan and Security Agreement (Alphatec Holdings, Inc.), Loan and Security Agreement (Alphatec Holdings, Inc.)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) 45 days (but no Credit Extensions shall will be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Jamdat Mobile Inc), Loan and Security Agreement (Applied Imaging Corp), Loan and Security Agreement (Novacept Inc)

Insolvency. (a) Either Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) either Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against either Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 3 contracts

Samples: Loan and Security Agreement (Relm Wireless Corp), Loan and Security Agreement (BigBand Networks, Inc.), Loan and Security Agreement (GlobalOptions Group, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Luca Technologies Inc), Loan and Security Agreement (Luca Technologies Inc)

Insolvency. (a) Borrower is unable fails to pay its debts (including trade debts) be solvent as they become due or otherwise becomes insolventdescribed under Section 5.6 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Intersect ENT, Inc.), Loan Agreement (Harmonic Inc)

Insolvency. If (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventmature; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);.

Appears in 2 contracts

Samples: Loan and Security Agreement (Ikanos Communications), Loan and Security Agreement (Ikanos Communications)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Intellon Corp), Loan and Security Agreement (Intellon Corp)

Insolvency. (a) A Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) a Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against a Borrower and not dismissed or stayed within thirty (30) 45 days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Sciclone Pharmaceuticals Inc), Loan and Security Agreement (Sciclone Pharmaceuticals Inc)

Insolvency. (a) Borrower is unable fails to pay its debts (including trade debts) be solvent as they become due or otherwise becomes insolventdescribed under Section 5.5 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (TerraVia Holdings, Inc.), Loan and Security Agreement (TerraVia Holdings, Inc.)

Insolvency. (ai) Any Borrower is shall be generally unable to pay its debts (including trade debts) as they such debts become due or otherwise becomes insolventdue; (bii) any Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against any Borrower and not dismissed or stayed within thirty (30) 45 days (but no Credit Extensions shall will be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement by And (Kanbay International Inc), Loan and Security Agreement by And (Kanbay International Inc)

Insolvency. (a) Borrower is and its Subsidiaries, taken as a whole, are unable to pay its their debts generally (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Aerohive Networks, Inc), Loan and Security Agreement (Aerohive Networks, Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins initiates an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun initiated against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Us Dataworks Inc), Loan and Security Agreement (Us Dataworks Inc)

Insolvency. (a) Borrower or Guarantor is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower or Guarantor begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower or Guarantor and is not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan Agreement (Aquinox Pharmaceuticals (Usa) Inc), Loan Agreement (Aquinox Pharmaceuticals, Inc)

Insolvency. (a) Borrower is unable fails to pay its debts (including trade debts) be solvent as they become due or otherwise becomes insolventdescribed under Section 5.6 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (RingCentral Inc), Loan and Security Agreement (RingCentral Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty sixty (3060) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Enphase Energy, Inc.), Loan and Security Agreement (Enphase Energy, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (MAP Pharmaceuticals, Inc.), Loan and Security Agreement (Ibasis Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);.

Appears in 2 contracts

Samples: Loan and Security Agreement (Adaptive Insights Inc), Loan and Security Agreement (Adaptive Insights Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Yodlee Inc), Loan and Security Agreement (Yodlee Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun began against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Splunk Inc), Loan and Security Agreement (Splunk Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Twilio Inc), Loan and Security Agreement (Twilio Inc)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Axs One Inc), Loan and Security Agreement (Lynx Therapeutics Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventinsolvent or Borrower fails to be solvent as described under Section 5.5 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Chimerix Inc), Loan and Security Agreement (Chimerix Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower or any of its Subsidiaries begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower or any of its Subsidiaries and is not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Alpha Healthcare Acquisition Corp.), Loan and Security Agreement (Procore Technologies, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);” and inserting in lieu thereof the following:

Appears in 2 contracts

Samples: Subordinated Loan and Security Agreement (Mavenir Systems Inc), Senior Loan and Security Agreement (Mavenir Systems Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty five (3045) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Alimera Sciences Inc), Loan and Security Agreement (Anacor Pharmaceuticals, Inc.)

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Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) 30 days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Adept Technology Inc), Loan and Security Agreement (Adept Technology Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty five (3045) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Spire Corp), Loan and Security Agreement (Spire Corp)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty sixty (3060) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed)days;

Appears in 2 contracts

Samples: Loan and Security Agreement (Interpace Biosciences, Inc.), Loan and Security Agreement (AxoGen, Inc.)

Insolvency. (a) Borrower is and its Subsidiaries, taken as a whole, are unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Aspen Aerogels Inc), Loan and Security Agreement (Aspen Aerogels Inc)

Insolvency. (a) any Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) any Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against any Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Aviat Networks, Inc.), Loan and Security Agreement (Aviat Networks, Inc.)

Insolvency. (ai) Either Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) either Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against either Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Global Telecom & Technology, Inc.), Silicon Valley Bank Loan and Security Agreement (Global Telecom & Technology, Inc.)

Insolvency. (a) Borrower is unable shall fail to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Tubemogul Inc), Loan and Security Agreement (Tubemogul Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; , (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (Cardiac Science CORP), Loan and Security Agreement (Cardiac Science CORP)

Insolvency. (a) A Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) A Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against a Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Loan and Security Agreement (TrueCar, Inc.), Loan and Security Agreement (TrueCar, Inc.)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventmature; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);.

Appears in 2 contracts

Samples: Loan and Security Agreement (Acclarent Inc), Loan and Security Agreement (Hansen Medical Inc)

Insolvency. (ai) Borrower Debtor is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower Debtor begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower Debtor and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 2 contracts

Samples: Security Agreement (Reval Holdings Inc), Security Agreement (GlobalOptions Group, Inc.)

Insolvency. (a) Any Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b25) any Borrower begins an Insolvency Proceeding; or (c26) an Insolvency Proceeding is begun against any Borrower and not dismissed or stayed within thirty forty five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (EnergyConnect Group Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Exa Corp)

Insolvency. As to any Borrower: (a) such Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) such Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against such Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (WaferGen Bio-Systems, Inc.)

Insolvency. (a) Borrower is unable shall fail to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding Proceeding, is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Bluearc Corp)

Insolvency. (a) A Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) a Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against a Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (MRV Communications Inc)

Insolvency. (a) a Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) a Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against a Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Internet Brands, Inc.)

Insolvency. (a) A Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (GOOD TECHNOLOGY Corp)

Insolvency. (a) Borrower or Guarantor is unable to pay its debts (including trade debts) generally as they become due or otherwise becomes insolvent; (b) Borrower or Guarantor begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower or Guarantor and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Zalicus Inc.)

Insolvency. (a) Borrower Guarantor is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower Guarantor begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower Guarantor and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Security Agreement (Global Telecom & Technology, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions Loans shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Energy Recovery, Inc.)

Insolvency. (a) Borrower Debtor is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower Debtor begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower Debtor and not dismissed or stayed within thirty (30) days [**] (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Security Agreement (Akebia Therapeutics, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventinsolvent as described in Section 5.5 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Sunesis Pharmaceuticals Inc)

Insolvency. (a) A Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) A Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against a Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Sequenom Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within thirty (30) 45 days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Imunon, Inc.)

Insolvency. (a) Any Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) 11.5.1.2 any Borrower begins an Insolvency Proceeding; or (c) 11.5.1.3 an Insolvency Proceeding is begun against any Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Comverge, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);days.

Appears in 1 contract

Samples: Loan and Security Agreement (Ecoark Holdings, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due mature or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (GPS Industries, Inc.)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty sixty (3060) days (but no Credit Extensions Advances shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Peerless Systems Corp)

Insolvency. (a) Borrower Debtor is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower Debtor begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower Debtor and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Security Agreement (Alimera Sciences Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Tranzyme Inc)

Insolvency. (a) Borrower is unable fails to pay its debts (including trade debts) be solvent as they become due or otherwise becomes insolventdescribed in Section 5.5 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (aTYR PHARMA INC)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; or Borrower fails to be solvent as described under Section 5.6 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (MiddleBrook Pharmaceuticals, Inc.)

Insolvency. (ai) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventdue; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty sixty (3060) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);.

Appears in 1 contract

Samples: Loan and Security Agreement (Poniard Pharmaceuticals, Inc.)

Insolvency. (a) A Borrower is unable generally to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) a Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against a Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Ligand Pharmaceuticals Inc)

Insolvency. (ai) Borrower is becomes unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventmature; (bii) Borrower begins an Insolvency Proceeding; or (ciii) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until before any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan Modification Agreement (Athenahealth Inc)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower or any of its Subsidiaries begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower or any of its Subsidiaries and is not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Radisys Corp)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventfails to be solvent as described under Section 5.5 hereof; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within thirty forty-five (3045) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (Augmedix, Inc.)

Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolventinsolvent (as determined pursuant to Section 5.6); (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and is not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);

Appears in 1 contract

Samples: Loan and Security Agreement (ShockWave Medical, Inc.)

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