Bankruptcy or Insolvency Event means any of the events set out in paragraphs 1, 2, 3 or 4 of subsection 40(1) of the Act;
Bankruptcy or Insolvency Event means, as applied to any Person, the declaration of bankruptcy, insolvency, falência declarada, autofalência, recuperação judicial or extrajudicial or other similar law now or hereafter in effect, including, but not limited to, any proceeding seeking the appointment of a trustee, receiver, administrador judicial, liquidator, administrator, custodian, assignee, sequestrator or other similar official of it or any substantial part of its assets, or the liquidation of such Person.
Bankruptcy or Insolvency Event means of any of the following: (i) the admission by the Custodian, Trustee or Sponsor of its inability to pay its debts when and as they become due; (ii) the execution by the Custodian, Trustee or Sponsor of a general assignment for the benefit of creditors; (iii) the filing by or against the Custodian, Trustee or Sponsor of a petition in bankruptcy or any petition for relief under any bankruptcy, insolvency, or debtor’s relief law, or the continuation of such petition without dismissal for a period of sixty (60) days or more, or, in the case of any involuntary filing of a petition against the Custodian, Trustee or Sponsor; (iv) the appointment of a receiver or trustee to take possession of the property or assets of the Custodian, Trustee or Sponsor; or (v) any action to liquidate, dissolve, transfer, or wind up the business of the Custodian, Trustee or Sponsor, in furtherance of the foregoing.
Examples of Bankruptcy or Insolvency Event in a sentence
Any Party may terminate this Agreement by giving not less than one hundred twenty (120) Business Days written notice to the other Parties; and this Agreement will terminate automatically, without notice or further action by any Party, upon a Bankruptcy or Insolvency Event.
Notwithstanding anything contained herein to the contrary, the balance of a Participant's Company Contribution Account shall become fully 13 vested and nonforfeitable upon the occurrence of a Change in Control Event or Bankruptcy or Insolvency Event affecting his Employer.
In the event that a Bankruptcy or Insolvency Event and a Trigger Event under clause (i) of the definition of Trigger Date occurs on the same date, then the Capital Infusion relating to such Trigger Event shall be fully satisfied as provided above prior to the making of a Capital Infusion pursuant to such Bankruptcy or Insolvency Event.
Notwithstanding the foregoing, the entire unpaid principal balance, any accrued interest, and all other amounts payable under this Note and the other Loan Document, shall without notice or demand and without the need for any action or election by Xxxxxx automatically become due and payable upon the occurrence of any Bankruptcy or Insolvency Event.
Notwithstanding the foregoing, the entire unpaid principal balance, any accrued interest, and all other amounts payable under this Note and the other Loan Document, shall without notice or demand and without the need for any action or election by Lender automatically become due and payable upon the occurrence of any Bankruptcy or Insolvency Event.
More Definitions of Bankruptcy or Insolvency Event
Bankruptcy or Insolvency Event has the meaning set forth in Section 12.1.(a). “Builder’s Risk Policy” has the meaning set forth in Exhibit P-1.
Bankruptcy or Insolvency Event has the meaning set forth in Section 12.1.(a).
Bankruptcy or Insolvency Event means of any of the following: (i) the admission by any Party of its inability to pay its debts when and as they become due; (ii) the execution by any Party of a general assignment for the benefit of creditors; (iii) the filing by or against any Party of a petition in bankruptcy or any petition for relief under any bankruptcy, insolvency, or debtor’s relief law, or the continuation of such petition without dismissal for a period of sixty (60) days or more, or, in the case of any involuntary filing of a petition against any Party; (iv) the appointment of a receiver or trustee to take possession of the property or assets of any Party; or (v) any action to liquidate, dissolve, transfer, or wind up the business of any Party, in furtherance of the foregoing.
Bankruptcy or Insolvency Event means of any of the following: (i) the admission by the Company or Borrower of its inability to pay its debts when and as they become due; (ii) the execution by the Company or Borrower of a general assignment for the benefit of creditors; (iii) the filing by or against the Company or Borrower of a petition in bankruptcy or any petition for relief under any bankruptcy, insolvency, or debtor’s relief law, or, in the case of any involuntary filing of a petition against the Company or Borrower, the continuation of such petition without dismissal for a period of sixty (60) days or more; (iv) the appointment of a receiver or trustee to take possession of the property or assets of the Company or Borrower; (v) any action to liquidate, dissolve, transfer, or wind up the business of the Company or Borrower under any applicable law; or (vi) any other corporate action, legal proceedings or other procedure or step is taken in relation to the suspension of payments, a moratorium of any indebtedness, dissolution, administration or reorganization (by way of voluntary arrangement, scheme of arrangement or otherwise) under any applicable law.
Bankruptcy or Insolvency Event means: (i) the making of a general assignment for the benefit of creditors by Borrower or any guarantor of the Indebtedness; (ii) the voluntary appointment (at the request of any such party or with the consent of any such party) of a receiver, custodian, liquidator or trustee in bankruptcy of the property of Borrower or any guarantor of the Indebtedness; (iii) the filing by Borrower or any guarantor of the Indebtedness of a petition in bankruptcy or an adjudication of Borrower or any guarantor of the Indebtedness as bankrupt or insolvent; (iv) the filing by Borrower or any guarantor of the Indebtedness of any petition or answer seeking or acquiescing in any relief under any present or future federal, state or other law or regulation relating to bankruptcy, insolvency or other relief for debtors; (v) Borrower or any guarantor of the Indebtedness admitting in writing its insolvency or inability to pay its debts generally as they become due; or (vi) the filing against Borrower or any guarantor of the Indebtedness of a petition seeking any relief under any present or future federal, state or other law or regulation relating to bankruptcy, insolvency or other similar relief for debtors, or the involuntary appointment of a receiver, custodian, liquidator or trustee in bankruptcy of the property of Borrower or any guarantor of the Indebtedness, if such petition or appointment is not vacated or discharged within thirty (30) days after the filing or making thereof.
Bankruptcy or Insolvency Event means of any of the following: (i) the admission by the Custodian, Trustee or Sponsor of its inability to pay its debts when and as they become due; (ii) the execution by the Custodian, Trustee or Sponsor of a general assignment for the benefit of creditors; (iii) the filing by or against the Custodian, Trustee or Sponsor of a petition in bankruptcy or any petition for relief under any bankruptcy, insolvency, or debtor’s relief law, or the continuation of such petition without dismissal for a period of sixty
Bankruptcy or Insolvency Event means any of the following events: (a) dissolution (other than pursuant to a consolidation, amalgamation or merger), (b) becoming insolvent or unable to pay its debts or failing to or admitting in writing its inability to pay its debts as they become due; (c) making a general assignment or arrangement with or for the benefit of its creditors; (d) institution against it of a Proceeding seeking a judgment of insolvency or bankruptcy under any bankruptcy or insolvency Law or other similar Law affecting creditors’ rights, or the presenting of a petition for its winding-up or liquidation that either (i) results in a judgment of insolvency or bankruptcy or the entry of an Order for relief or the making of an Order for its winding-up or liquidation or (ii) is not dismissed, discharged, stayed or restrained, including by virtue of a deposit of the claimed amount, in each case within 60 days of the institution or presentation thereof; (e) passing of a resolution for its winding-up, dissolution or liquidation (other than pursuant to a consolidation, amalgamation or merger); (f) seeking or becoming subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its assets; (g) having a secured party take possession of all or substantially all its assets or having a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains possession, or any such process is not dismissed, discharged, stayed or restrained, including by virtue of a deposit of the claimed amount, in each case within 60 days thereafter; or (h) taking any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing acts.