In Bankruptcy definition

In Bankruptcy. A Mortgage Loan as to which the related Mortgagor has sought relief under or has otherwise been subjected to the federal bankruptcy laws or any other similar laws of general application for the relief of debtors through the institution of appropriate proceedings, and such proceedings are continuing, but excluding any Mortgage Loan as to which the related Mortgagor is current under a bankruptcy plan. In Foreclosure: A Mortgage Loan as to which the first action necessary to be taken to commence proceedings in Foreclosure has been taken, and such proceedings are continuing.
Sample 1Sample 2Sample 3
In Bankruptcy. A Mortgage Loan as to which the related Mortgagor has sought relief under or has otherwise been subjected to the federal bankruptcy laws or any other similar laws of general application for the relief of debtors through the institution of appropriate proceedings, and such proceedings are continuing, but excluding any Mortgage Loan as to which the related Mortgagor is current under a bankruptcy plan. In Foreclosure: A Mortgage Loan as to which the first action necessary to be taken to commence proceedings in Foreclosure has been taken, and such proceedings are continuing. Index: With respect to each ARM Loan, the index, as specified in the related Mortgage Note, used to determine the Mortgage Interest Rate on each Adjustment Date on such ARM Loan.
Sample 1Sample 2Sample 3
In Bankruptcy means a Mortgage Loan with respect to which the Mortgagor (i) has made an assignment for the benefit of creditors or petitioned or applied to any tribunal for the appointment of a custodian, receiver or trustee for a substantial part of its assets, (ii) has commenced any proceedings under any bankruptcy, reorganization, readjustment of debt, dissolution or liquidation law or statute or similar law of any jurisdiction, whether now or hereafter in effect, or (iii) has pending against it any such petition, application or proceeding.
Sample 1

Examples of In Bankruptcy in a sentence

  • The "Who, What, When, Where, Why, And How" Of Appeals In Bankruptcy Proceedings -- Generally 97.

  • Creditor's Claims in Bankruptcy Proceedings -- The Debtor-Creditor Relationship In Bankruptcy -- Allowance and Payment of Claims 65.

  • SG's Guidelines For Direct Certified Appeals In Bankruptcy Cases 102.

  • Qualifications of the firm to provide the requested servicesA listing of all staff to be assigned to the engagement and their respective qualifications, past experience on engagements of this scope, and their role in those past engagements.

  • Official Trustee In Bankruptcy (1996) 71 FCR 418 where the Federal Court said at 422 that 'whilst "substantial", when it appears alone, might refer to a contribution of significance, here it derives its meaning from "the whole", the expression which it qualifies'.

  • Gerson, Another Look at Treatment and Use of Class Proofs of Claim and Class Actions In Bankruptcy, 27 AM.

  • Total Delinquent 1-180 days(a) In Bankruptcy (b) In Appeal(c) At Department of Justice(d) Referred for Cross Servicing(e) Other Status 4.

  • Mcintosh, Trustee In Bankruptcy, Estate of Bountiful Materials & Construction Company, Inc., B-446-65 v.

  • Otero, Jurisdictional Uncertainties Complicate Debtor Class Actions In Bankruptcy Court, N.

  • Steel, acquired Sartid a.d. (In Bankruptcy), an integrated steel company majority-owned by the Government of the Union of Serbia and Montenegro, and certain of its subsidiaries (collectively "Sartid") out of bankruptcy.


More Definitions of In Bankruptcy

In Bankruptcy. With respect to any Mortgage, a voluntary or involuntary petition under Title 11 of the United States Code, or a proceeding under similar laws for the relief of debtors, that has been filed by or against a mortgagor, guarantor or other person or entity who presently holds title to the Collateral. The status In Bankruptcy shall continue with respect to a Mortgage until the Collateral is released from the jurisdiction of the bankruptcy or other court in which the matter is pending, regardless of whether the proceeding has been dismissed or otherwise concluded.
Sample 1
In Bankruptcy means with respect to a Mortgage Loan that the related Mortgagor has sought relief under or has otherwise been subjected to the federal bankruptcy laws or any other similar laws of general application for the relief of debtors through the institution of appropriate proceedings, and such proceedings are continuing, and shall continue until the related Mortgaged Property is released from the jurisdiction of the bankruptcy or other court in which the matter is pending, regardless of whether such proceeding is dismissed, finally concluded, or otherwise. The term "In Foreclosure" shall mean, as to any Mortgage Loan, that the first action necessary to be taken to commence proceedings in foreclosure or a sale under power of sale under the law of the state wherein the Mortgage is to be enforced, has been taken. The term "In Litigation" shall mean a legal action in foreclosure of a Mortgage Loan, or for a deficiency thereunder, in which the sale of the Mortgaged Property in foreclosure (whether by action, power of sale, or otherwise) has been delayed by reason of the defense of such action by the Mortgagor, or any other action commenced or pending which involves the Mortgage Loan, including a formal complaint filed with a federal or state government or regulatory agency.
Sample 1
In Bankruptcy means with respect to a Mortgage Loan that the related Mortgagor has sought relief under or has otherwise been subjected to the federal bankruptcy laws or any other similar laws of general application for the relief of debtors through the institution of appropriate Proceedings, and such Proceedings are continuing, and shall continue until the related Mortgaged Property is released from the jurisdiction of the bankruptcy or other court in which the matter is pending, regardless of whether such Proceeding is dismissed, finally concluded, or otherwise. The term "IN FORECLOSURE" shall mean, as to any Mortgage Loan, that the first action necessary to be taken to commence Proceedings in foreclosure or a sale under power of sale under the law of the state wherein the Mortgage is to be enforced, has been taken, and such Proceedings are continuing, or should have been taken in accordance with applicable Investor standards. The term "IN LITIGATION" shall mean a legal action in foreclosure of a Mortgage Loan, or for a deficiency thereunder, in which the sale of the Mortgaged Property in foreclosure (whether by action, power of sale, or otherwise) has been delayed by reason of the defense of such action by the Mortgagor, or any other action commenced or pending which involves the Mortgage Loan. The term "REO
Sample 1
In Bankruptcy. Describes a Mortgage Loan with respect to which the Mortgagor: (i) has made an assignment for the benefit of creditors or petitioned or applied to any tribunal for the appointment of a custodian, receiver or trustee for him or for a substantial part of his assets; (ii) has commenced any proceeding under any bankruptcy, reorganization, readjustment of debt, dissolution, or liquidation law or statute of any jurisdiction, whether now or hereafter in effect; or (iii) has pending against him any such petition, application or proceeding. In Foreclosure: Describes a Mortgage Loan with respect to which a foreclosure proceeding, sale under power of sale proceedings, or other proceedings for the acquisition of title to the Mortgaged Property based upon a default by the Mortgagor, have been instituted and are pending or have been completed, or a deed in lieu of foreclosure has been accepted or is pending, or a Mortgage Loan that that has been referred to an attorney for the commencement of any such proceedings.
Sample 1

Related to In Bankruptcy

  • Debtor in bankruptcy means a person that is the subject of:

  • Involuntary Bankruptcy has the meaning set forth in the definition of Bankruptcy.

  • Voluntary Bankruptcy means, with respect to any Person, the inability of such Person generally to pay its debts as such debts become due, or an admission in writing by such Person of its inability to pay its debts generally or a general assignment by such Person for the benefit of creditors; the filing of any petition or answer by such Person seeking to adjudicate it a bankrupt or insolvent, or seeking for itself any liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of such Person or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking, consenting to, or acquiescing in the entry of an order for relief or the appointment of a receiver, trustee, custodian, or other similar official for such Person or for any substantial part of its property, or corporate action taken by such Person to authorize any of the actions set forth above. An "Involuntary Bankruptcy" means, with respect to any Person, without the consent or acquiescence of such Person, the entering of an order for relief or approving a petition for relief or reorganization or any other petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or other similar relief under any present or future bankruptcy, insolvency or similar statute, law, or regulation, or the filing of any such petition against such Person which petition shall not be dismissed within ninety (90) days, or, without the consent or acquiescence of such Person, the entering of an order appointing a trustee, custodian, receiver, or liquidator of such Person or of all or any substantial part of the property of such Person which order shall not be dismissed within sixty (60) days.

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

  • U.S. Bankruptcy Code means Title 11 of the United States Code, as amended, or any similar federal or state law for the relief of debtors.

  • Bankruptcy means, with respect to any Person, if such Person (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections 18-101(1) and 18-304 of the Act.

  • Chapter 11 means Chapter 11 of the Bankruptcy Code.

  • 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.

  • Receivership means a proceeding in which a receiver is appointed.

  • United States Bankruptcy Code means the Bankruptcy Reform Act of 1978, as amended and as codified in Title 11 of the United States Code, as amended from time to time hereafter, or any successor federal bankruptcy law.

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

  • Write-in ballot means a ballot containing any write-in votes.

  • Bankruptcy Act means the Bankruptcy Act or Title 11 of the United States Code.

  • Excess Bankruptcy Loss Any Bankruptcy Loss, or portion thereof, which exceeds the then applicable Bankruptcy Amount.

  • Bankruptcy Proceeding means any bankruptcy, reorganization, insolvency, composition, restructuring, dissolution, liquidation, receivership, assignment for the benefit of creditors, or custodianship action or proceeding under any federal or state law with respect to Borrower, any guarantor of any of the Senior Indebtedness, any of their respective properties, or any of their respective partners, members, officers, directors, or shareholders.

  • Federal Bankruptcy Act means the Bankruptcy Act or Title 11 of the United States Code.

  • Conservator means a person who is appointed by a court to manage the estate of a protected person.

  • Federal Bankruptcy Code means the Bankruptcy Act of Title 11 of the United States Code, as amended from time to time.

  • Receivership court means the court in the insolvent or impaired insurer's state having jurisdiction over the conservation, rehabilitation, or liquidation of the member insurer.

  • Liquidator has the meaning set forth in Section 13.2.A hereof.

  • Bankruptcy Party has the meaning assigned in Section 9.7.

  • Bankruptcy Custodian means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

  • Local Bankruptcy Rules means the Local Rules of Bankruptcy Practice and Procedure of the United States Bankruptcy Court for the District of Delaware.

  • Bankruptcy Laws has the meaning specified in Section 10.9.

  • Curator means any person who is authorized to act under letters of curatorship granted or signed and sealed by a Master, or under an endorsement made under section seventy-two;

  • Bankruptcy Amount As of any date of determination prior to the first anniversary of the Cut-off Date, an amount equal to the excess, if any, of (A) $100,000 over (B) the aggregate amount of Bankruptcy Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05