Act of Insolvency definition

Act of Insolvency means any act as such as defined by the Presidency Towns Insolvency Act or in Provincial Insolvency act or any amending status.

Act of Insolvency means any act of insolvency as desired by the Presidency Towns Insolvency Act or the Provincial Insolvency Act or any amending statutes.

Act of Insolvency means as it is designed by Presidency Town Insolvency Act or Provincial Insolvency Act or any act amending such originals.

Examples of Act of Insolvency in a sentence

• In the event of termination arising out of an Act of Insolvency, the Recipient’s ownership rights in any Intellectual Property and other Project Outputs funded by Centre Funds and developed in pursuit of the Project Objectives shall be deemed to have automatically transferred to the Centre the date immediately preceding the actual Act of Insolvency.

• However, no Close-out Notice is required to be given following the occurrence of an Event of Default described in Clause 12.3 (Act of Insolvency) in order for the provisions of Clauses 9.2 (No Further Payments) and 9.3 (Amounts Determined) to apply.

• Where the Client is a partnership, an Act of Insolvency or an Event of Default occurs in respect of one or more of the Client or its partners.

• Both Agent and its Principal or Principals shall be deemed “parties” to the Agreement and all references to a “party” or “either party” in the Agreement shall be deemed revised accordingly (and any Act of Insolvency with respect to Agent or any other Event of Default by Agent under Paragraph 11 of the Agreement shall be deemed an Event of Default by Seller or Buyer, as the case may be).

• In the event of our insolvency, winding up or other Act of Insolvency, these funds will be subject to the DFSA’s ‘Client Money Distribution Rules’ as provided for under the DFSA Rules.

More Definitions of Act of Insolvency

Act of Insolvency means any act of Insolvency defined by the Presidency Towns Insolvency Act, or the Provincial Insolvency Act or any Act amending such original act/s.

Act of Insolvency means, with respect to any party, (a) the commencement by such party as debtor of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, moratorium, dissolution, delinquency or similar law, or such party’s seeking the appointment or election of a receiver, conservator, trustee, custodian or similar official for such party or any substantial part of its property, or the convening of any meeting of creditors for purposes of commencing any such case or proceeding or seeking such an appointment or election, (b) the commencement of any such case or proceeding against such party, or another seeking such an appointment or election, or the filing against a party of an application for a protective decree under the provisions of the Securities Investor Protection Act of 1970, which (i) is consented to or not timely contested by such party, (ii) results in the entry of an order for relief, such an appointment or election, the issuance of such a protective decree or the entry of an order having a similar effect, or (iii) is not dismissed within 15 days, (c) the making by such party of a general assignment for the benefit of creditors, or (d) the admission in writing by such party of such party’s inability to pay such party’s debts as they become due.

Act of Insolvency means any Act of insolvency as defined by the

Act of Insolvency means, with respect to any Person or its Affiliates, (i) the filing of a petition, commencing, or authorizing the commencement of any case or proceeding, or the voluntary joining of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, dissolution or similar law relating to the protection of creditors, or suffering any such petition or proceeding to be commenced by another which is consented to, not timely contested or results in entry of an order for relief; (ii) the seeking of the appointment of a receiver, trustee, custodian or similar official for such party or an Affiliate or any substantial part of the property of either; (iii) the appointment of a receiver, conservator, or manager for such party or an Affiliate by any governmental agency or authority having the jurisdiction to do so; (iv) the making or offering by such party or an Affiliate of a composition with its creditors or a general assignment for the benefit of creditors; (v) the admission by such party or an Affiliate of such party of its inability to pay its debts or discharge its obligations as they become due or mature; or (vi) that any governmental authority or agency or any person, agency or entity acting or purporting to act under governmental authority shall have taken any action to condemn, seize or appropriate, or to assume custody or control of, all or any substantial part of the property of such party or of any of its Affiliates, or shall have taken any action to displace the management of such party or of any of its Affiliates or to curtail its authority in the conduct of the business of such party or of any of its Affiliates.

Act of Insolvency means in relation to either Party

Act of Insolvency means any act as defined by the Presidency Town Insolvency Act, 1909, or in the Provincial Insolvency Act, 1920 (enactments) or any amending statutes.

Act of Insolvency means any Act of Insolvency as defined by the provincial Insolvency Act or any Act amending such original.