Bankrupt or Insolvent definition

Bankrupt or Insolvent means, with respect to a Person:
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Bankrupt or Insolvent or "Bankruptcy or Insolvency" shall have occurred or exist with respect to any Person if:
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Bankrupt or Insolvent means, with respect to a Person (which, the case of the Seller, includes the General Partner):
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Examples of Bankrupt or Insolvent in a sentence

  • Duly filled and signed Schedule N Declaration Form for Bankrupt or Insolvent and Debarment.

  • Notwithstanding the foregoing, the Trust Fund shall at all times remain subject to the claims of creditors of the Company in the event the Company becomes Bankrupt or Insolvent.

  • In addition, if the whole or any portion of the Interest of any Member in the Company is subject to levy or attachment, and such levy or attachment is not released or discharged within ninety (90) days, such Member or other Person shall be deemed Bankrupt or Insolvent for purposes of this Agreement.

  • The Seller will notify the Buyer promptly if the Seller is Bankrupt or Insolvent or if there is a material risk that the Seller will become Bankrupt or Insolvent or if the Seller has defaulted under any agreement with a Facility Lender or if any Permit for the Seller’s Plant is terminated or expires.

  • The Trustee may independently determine that the Employer or Participating Subsidiary is Bankrupt or Insolvent based upon written notice from a creditor of Employer or Participating Subsidiary.

  • Should any one employer-party to a Plan become Bankrupt or Insolvent, only that portion of the Trust Fund with a value equal to the Plan Benefits of the Participants employed by the Bankrupt or Insolvent employer-party shall be subject to the suspension of payment rules set forth in Section 2.2.

  • The focus of this research was based on the importance of lively neighbourhoods and inviting public spaces.

  • Further views analysis and building height modelling around the World Heritage Site is being developed and will inform the World Heritage Site Management Plan and the approach to significant growth within the vicinity of the site.

  • Notwithstanding the provisions contained in this Section 6.8, the Trustee shall be prohibited from transferring Trust Fund assets to the Company in the manner described therein if the Company is then Bankrupt or Insolvent.

  • If he is adjudged Bankrupt or Insolvent, or ap- plies for the Benefit of any Law relating to Insol- vent Debtors, or becomes a public Defaulter;4.


More Definitions of Bankrupt or Insolvent

Bankrupt or Insolvent means, for a Person:
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Bankrupt or Insolvent means, with respect to a Person (which in the case of the Seller includes either or both of the Seller or the General Partner):
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Bankrupt or Insolvent and "Bankruptcy or Insolvency" shall have the meaning for such term set forth in the Indenture.
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Related to Bankrupt or Insolvent

  • Insolvent pertaining to a condition of Insolvency.

  • Bankrupt means with respect to any entity, such entity that (a) files a petition or otherwise commences, authorizes or acquiesces in the commencement of a proceeding or cause of action under any bankruptcy, insolvency, reorganization or similar Law, or has any such petition filed or commenced against it and such case filed against it is not dismissed in ninety (90) days, (b) makes an assignment or any general arrangement for the benefit of creditors, (c) otherwise becomes bankrupt or insolvent (however evidenced), (d) has a liquidator, administrator, receiver, trustee, conservator or similar official appointed with respect to it or any substantial portion of its property or assets, or (e) is generally unable to pay its debts as they fall due.

  • Bankruptcy As to any Person, the making of an assignment for the benefit of creditors, the filing of a voluntary petition in bankruptcy, adjudication as a bankrupt or insolvent, the entry of an order for relief in a bankruptcy or insolvency proceeding, the seeking of reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief, or seeking, consenting to or acquiescing in the appointment of a trustee, receiver or liquidator, dissolution, or termination, as the case may be, of such Person pursuant to the provisions of either the Bankruptcy Code or any other similar state laws.

  • Bankruptcy Event means, with respect to any Person:

  • 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.

  • Insolvency with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of Section 4245 of ERISA.

  • Insolvency Event means, with respect to a specified Person, (a) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing.

  • Danish Bankruptcy Act means the Danish Bankruptcy Act (Consolidated Act No. 11 of 6 January 2014, as amended);

  • Insolvency Proceedings means bankruptcy, liquidation or other collective judicial or administrative proceedings, including interim proceedings, in which the assets and affairs of the debtor are subject to control or supervision by a court for the purposes of reorganisation or liquidation;