Common use of Involuntary Insolvency Proceedings Clause in Contracts

Involuntary Insolvency Proceedings. A proceeding or case shall be commenced, without the application or consent of a Grantor (that is not an Inactive Subsidiary) in any court of competent jurisdiction, seeking (i) liquidation, reorganization, dissolution, winding-up or composition or adjustment of debts of a Grantor, (ii) the appointment of a trustee, receiver, liquidator, custodian or the like of a Grantor, or of all or any part of any of their assets, (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts, and such proceeding or case shall continue undismissed, for a period of forty five (45) days; or (iv) any order for relief against a Grantor, shall be entered in an involuntary case under bankruptcy laws of the United States of America, or any similar foreign law, and shall continue undismissed for a period of forty five (45) days; or

Involuntary Insolvency Proceedings. A proceeding or case shall be commenced, without the application or consent of a Grantor (that is not an Inactive Subsidiary) Buyer in any court of competent jurisdiction, seeking (i) liquidation, reorganization, dissolution, winding-up or composition or adjustment of debts of a GrantorBuyer, (ii) the appointment of a trustee, receiver, liquidator, custodian or the like of a GrantorBuyer, or of all or any part of any of their assets, (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts, and such proceeding or case shall continue undismissed, for a period of forty five (45) days; or (iv) any order for relief against a GrantorBuyer or Seller, shall be entered in an involuntary case under bankruptcy laws of the United States of America, or any similar foreign law, and shall continue undismissed for a period of forty five (45) days; or;

Involuntary Insolvency Proceedings. A proceeding or case shall be commenced, without the application or consent of a Grantor (that is not an Inactive Subsidiary) the Borrower or any Guarantor in any court of competent jurisdiction, seeking (i) liquidation, reorganization, dissolution, winding-up or composition or adjustment of debts of a Grantorthe Borrower or any Guarantor, (ii) the appointment of a trustee, receiver, liquidator, custodian or the like of a Grantorthe Borrower or any Guarantor, or of all or any part of any of their assets, (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts, and such proceeding or case shall continue undismissed, for a period of forty five (45) days; or (iv) any order for relief against a Grantorthe Borrower or any Guarantor, shall be entered in an involuntary case under bankruptcy laws of the United States of America, or any similar foreign law, and shall continue undismissed for a period of forty five (45) days; or

Involuntary Insolvency Proceedings. A proceeding or case shall be commenced, without the application or consent of a Grantor (that is not an Inactive Subsidiary) in any court of competent jurisdiction, seeking (i) liquidation, reorganization, dissolution, winding-up or composition or adjustment of debts of a Grantor, (ii) the appointment of a trustee, receiver, liquidator, custodian or the like of a Grantor, or of all or any part of any of their assets, (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts, and such proceeding or case shall continue undismissed, for a period of forty five (45) days; or (iv) any order for relief against a Grantor, shall be entered in an involuntary case under bankruptcy laws of the United States of America, or any similar foreign law, and shall continue undismissed for a period of forty five (45) days; or

Involuntary Insolvency Proceedings. A proceeding or case shall be commenced, without the application or consent of a Grantor (that is not an Inactive Subsidiary) the non-Breaching Party in any court of competent jurisdiction, seeking (i) liquidation, reorganization, dissolution, winding-up or composition or adjustment of debts of a Grantorthe Breaching Party, (ii) the appointment of a trustee, receiver, liquidator, custodian or the like of a Grantorthe Breaching Party, or of all or any part of any of their assets, (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts, and such proceeding or case shall continue undismissed, for a period of forty five ninety (4590) days; or (iv) any order for relief against a Grantorthe Breaching Party, shall be entered in an involuntary case under bankruptcy laws of the United States of America, or any similar foreign law, and shall continue undismissed for a period of forty five ninety (4590) days; or,

Involuntary Insolvency Proceedings. A proceeding or case shall be commenced, without the application or consent of a Grantor (that is not an Inactive Subsidiary) the non-Breaching Party in any court of competent jurisdiction, seeking (i) liquidation, reorganization, dissolution, winding-up or composition or adjustment of debts of a Grantorthe Breaching Party, (ii) the appointment of a trustee, receiver, liquidator, custodian or the like of a Grantorthe Breaching Party, or of all or any part of any of their assets, (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts, and such proceeding or case shall continue undismissed, for a period of forty five ninety (4590) days; or (iv) any order for relief against a Grantorthe Breaching Party, shall be entered in an involuntary case under bankruptcy laws of the United States of America, or any similar foreign law, and shall continue undismissed for a period of forty five ninety (4590) days; or;