Liquidation Proceedings. In the event the Cedent is placed in liquidation, Reinsurer shall (i) issue assumption certificates to the named insureds or reinsureds (including principals, as applicable) of any Reinsured Contracts which are in force (namely, those Reinsured Contracts whose contract term has not expired or been terminated) on the date such order of liquidation is issued pursuant to which the Reinsurer will assume all of the obligations arising under such in-force Reinsured Contracts, (ii) assume the responsibility, if necessary, for complying with any relevant state assumption reinsurance requirements and (iii) issue notifications to claimants under all other Reinsured Contracts that, until further notice, all claims under such Reinsured Contracts shall continue to be presented to the Reinsurer, in its capacity as Administrator, under the Administrative Services Agreement.
Liquidation Proceedings. The Borrower has admitted in writing its inability to pay its debts as they mature or any proceeding is initiated, order is made, resolution passed or other action taken (or any other process, which in the opinion of the Lender, is analogous thereto is initiated) for the suspension of payment or dissolution, termination of existence, liquidation, winding-up or bankruptcy of any of the Borrower.
Liquidation Proceedings. 24.3.1 The liquidation of the JV Company shall be handled in accordance with the applicable PRC Laws. The liquidation committee shall be composed of three (3) persons. One (1) shall be appointed by BRILLIANCE from the Directors it has appointed to the Board, one (1) shall be appointed by BMW from the Directors it has appointed to the Board, and the third shall be a person agreed upon by the first two (2) nominees and shall be an accountant or a lawyer registered in China. In case any Director so appointed cannot serve, a replacement shall be appointed within ten (10) days (from the date of the initial appointment) by the Party that originally appointed the Director who cannot serve.
Liquidation Proceedings other than as notified in writing to the Supervisor or as permitted by the Transaction Documents, it has not taken any corporate action, nor have any other steps been taken by it or any proceedings been started by any person (other than those which are being defended in good faith by appropriate proceedings and the existence of which has been disclosed in writing to the Supervisor promptly after the Guarantor first became aware of the same) for its liquidation or for the appointment of a Controller, receiver, statutory manager, liquidator or similar officer of it or any material part of its assets;
Liquidation Proceedings. Vendor will not permit the Company to, or to direct a Group Undertaking to propose any resolution for its Winding-up.
Liquidation Proceedings. Any dissolution or liquidation proceeding shall be instituted by or against the Borrower or any other Credit Party, and, if instituted against the Borrower shall be consented to or acquiesced in by the Borrower or shall remain pending for forty-five (45) days; or
Liquidation Proceedings. 22.2.1 The liquidation committee (“Liquidation Committee”) shall consist of five (5) members, of which HT shall appoint three (3) members and RP shall appoint two (2) members.
