Examples of Insolvency Action in a sentence
The parties agree that this provision will survive the termination of this Agreement, whether terminated in a Bankruptcy or Insolvency Action or otherwise.
In addition, the Advisor agrees that for any obligations due and owing to it by the Company, the Advisor will look solely and exclusively to the assets of the Company or the Administrator, if it has liability in its capacity as Administrator, to satisfy its claims and will not seek to attach or otherwise assert a claim against the assets of any Member, whether there is a Bankruptcy or Insolvency Action taken.
For purposes of this Note, the term "Insolvency Action" shall mean any case or proceeding, or petition relating thereto, that arises under any state or Federal laws relating to bankruptcy or insolvency, whether now existing or subsequently enacted, and that seeks reorganization, liquidation or other relief with respect to the debts, assets or businesses of the Maker.
The Maker shall pay all costs, including but not limited to reasonable legal fees and expenses, whether arising in connection with an Insolvency Action or otherwise, that may be incurred by the Holder to enforce this Note or to collect the amounts due under this Note ("Enforcement Costs").
In addition, the Trading Advisor agrees that for any obligations due and owing to it by the Trust, the Trading Advisor will look solely and exclusively to the assets of the Trading Company or to the assets of the Managing Owner, if it has liability in its capacity as Managing Owner, to satisfy its claims and will not seek to attach or otherwise assert a claim against the other assets of the Trust, whether there is a Bankruptcy or Insolvency Action taken or otherwise.