Common use of Voluntary Bankruptcy; Appointment of Receiver Clause in Contracts

Voluntary Bankruptcy; Appointment of Receiver. (i) Holdings or any of its Subsidiaries shall have an order for relief entered with respect to it or shall commence a voluntary case under any Debtor Relief Law, or shall consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, or shall consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; or Holdings or any of its Subsidiaries shall make any assignment for the benefit of creditors; or (ii) Holdings or any of its Subsidiaries shall be unable, or shall fail generally, or shall admit in writing its inability, to pay its debts as such debts become due; or the Board of Directors of Holdings or any of its Subsidiaries (or any committee thereof) shall adopt any resolution or otherwise authorize any action to approve any of the actions referred to herein or in Section 8.1(f); or

Voluntary Bankruptcy; Appointment of Receiver. (i) Holdings or any of its Subsidiaries shall have an order for relief entered with respect to it or shall commence a voluntary case under any Debtor Relief Law, or shall consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, or shall consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; or Holdings or any of its Subsidiaries shall make any assignment for the benefit of creditors; or (ii) Holdings or any of its Subsidiaries shall be unable, or shall fail generally, or shall admit in writing its inability, to pay its debts as such debts become due; or the Board of Directors of Holdings or any of its Subsidiaries (or any committee thereof) shall adopt any resolution or otherwise authorize any action to approve any of the actions referred to herein or in Section 8.1(f), in each case of the foregoing, other than a Consensual Proceeding; oror (h)

Voluntary Bankruptcy; Appointment of Receiver. (i) Holdings or any of its Subsidiaries Borrower shall --------------------------------------------- have an order for relief entered with respect to it or shall commence a voluntary case under any Debtor Relief Lawapplicable bankruptcy, insolvency or other similar law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case, or to the conversion of to an involuntary case to a voluntary case, under any such law, or shall consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; or Holdings or any the making by Borrower of its Subsidiaries shall make any assignment for the benefit of creditors; or (ii) Holdings the inability or any failure of its Subsidiaries shall be unableBorrower, or shall fail generally, or shall admit the admission by Borrower in writing of its inability, to pay its debts as such debts become due; due or the Board board of Directors directors of Holdings or any of its Subsidiaries Borrower (or any committee thereof) shall adopt any resolution or otherwise authorize any authorizes action to approve any of the actions referred to herein or in Section 8.1(f)foregoing; or