Petitions for or acquiesces. in the appointment of any receiver, trustee or similar officer to liquidate or conserve its business or any substantial part of its assets; commences any legal proceeding such as insolvency, bankruptcy, reorganization, readjustment of debt, dissolution or liquidation available for the relief of financially distressed debtors; or becomes the object of any such proceeding, unless such proceeding is dismissed or stayed within a reasonable period, not to exceed 60 days.
Appears in 4 contracts
Samples: Letter Agreement (Continental Airlines Inc /De/), Letter Agreement (Continental Airlines Inc /De/), Letter Agreement (Alaska Air Group Inc)