Common use of Notice of Insolvency Clause in Contracts

Notice of Insolvency. Any notice of insolvency shall identify the manner in which the Transferring Holder is deemed insolvent (as defined in Section 13.2) and shall identify any trustee or fiduciary appointed with regard to the Transferring Holder. A copy of any petition for bankruptcy, petition for involuntary bankruptcy, order appointing a receiver, whether permanent or temporary, order creating an assignment for the benefit of the Transferring Holder's creditors, and/or any judgment against the Transferring Holder that has remained unsatisfied or unbonded for a period of thirty (30) days or longer shall be attached to the notice.

Appears in 2 contracts

Samples: Member Control Agreement (Lakes Gaming Inc), Member Control Agreement (Lakes Gaming Inc)

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Notice of Insolvency. Any notice of insolvency shall identify the manner in which the Transferring Holder is deemed insolvent Insolvent (as defined in paragraph (d) of Section 13.28.2) and shall identify any trustee or fiduciary appointed with regard to the Transferring Holder. A copy of any petition for bankruptcyBankruptcy, petition for involuntary bankruptcyInvoluntary Bankruptcy, order appointing a receiver, whether permanent or temporary, order creating an assignment for the benefit of the Transferring Holder's creditors, and/or any judgment against the Transferring Holder that has remained unsatisfied or unbonded for a period of thirty (30) days or longer shall be attached to the notice.

Appears in 1 contract

Samples: Member Control Agreement (Active Iq Technologies Inc)

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Notice of Insolvency. Any notice of insolvency shall identify the manner in which the Transferring Holder is deemed insolvent (as defined in Section 13.213.2(d)) and shall identify any trustee or fiduciary appointed with regard to the Transferring Holder. A copy of any petition for bankruptcy, petition for involuntary bankruptcy, order appointing a receiver, whether permanent or temporary, order creating an assignment for the benefit of the Transferring Holder's creditors, and/or any judgment against the Transferring Holder that has remained unsatisfied or unbonded for a period of thirty (30) days or longer shall be attached to the notice.

Appears in 1 contract

Samples: Member Control Agreement (Lakes Gaming Inc)

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