Insolvency Notice definition

Insolvency Notice means a notice served by the Security Trustee on the Issuer upon the occurrence of an Insolvency Acceleration Event pursuant to Clause 5.1 (Delivery of notice) of the Security Trust Deed;
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Insolvency Notice means the written notice delivered in original by Collateral Agent to Trustee, pursuant to the terms of the form attached hereto as Exhibit “E”, in which Collateral Agent (i) notifies that a competent judge has issued a Insolvency declaration, and (ii) conspicuously credits the foregoing, attaching copy of (A) the publication of the Insolvency Resolution by the corresponding court, in the courtroom or by legal gazette, (B) the personal notice of the Insolvency Resolution, conducted by the conciliator or liquidator, (C) the publication of the extract of the resolution in the Federal Official Gazette, or (D) any other form permitted by the CIL and other legal applicable provisions..
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Insolvency Notice means an Enforcement Notice served by the Security Trustee pursuant to Clause 3.3 (Mandatory Acceleration Events) of the Security Trust Deed specifying that a Mandatory Acceleration Event has occurred;
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Examples of Insolvency Notice in a sentence

  • If, in the reasonable opinion of the Directors, the Company is, or is likely to become, insolvent (whether or not a receiver, receiver and manager, provisional liquidator or liquidator has been appointed or mortgagee has taken possession of the property of Limited) the Directors must immediately give notice (Limited Insolvency Notice) to Plc of such fact.

  • Upon receipt of a Plc Insolvency Notice, the Company shall seek to ensure that the economic returns made or otherwise available to a holder of a Limited Ordinary Share relative to the economic returns available to a holder of a Plc Ordinary Share (or vice versa) are in due proportion having regard to the Equalisation Ratio ( Economic Equivalence) by taking the steps set out in paragraphs 141(1)(b) or (c).

  • If the Second Party elects to buy the Shares of the First Party, the Second Party shall within thirty (30) calendar days following receipt of the Shareholder Insolvency Notice serve a notice (an “Insolvency Call Notice”) on the First Party to buy all of the Shares held by the First Party at the Fair Value and specifying the Second Party’s determination of Fair Value.

  • As soon as practicable after service, or deemed service, of the Shareholder Insolvency Notice, and notwithstanding anything else to the contrary herein, the Second Party may, at its election, terminate this agreement pursuant to clause 16 and arrange for the dissolution and liquidation of the JV, or require the First Party to sell its Shares to the Second Party in an amount equal to the Fair Value determined by the Valuer in accordance with clause 14.

  • Revocation of Authorization; Notice of Insolvency; Notice of Change of Ownership 28R20-5-212.

  • Trustee shall be obliged to grant to the Persons that (i) before Trustee receives an Insolvency Notice, the Representative of Settlors and (ii) after Trustee receives an Insolvency Notification, Collateral Agent indicates in writing, the powers of attorney necessary to defend the Trust Estate.

  • Rate VolatilityAs of June 30, 20161) Market Value of Assets$119,049,9972) Payroll$1,320,8443) Asset Volatility Ration [(1) l (2)]90.14) Accrued Liability$106,974,6555) Liability Volatility Ratio [(4) l (2)]81.0 The volatility ratios for this plan are extremely high due to the closed nature of the plan.

  • If, in the reasonable opinion of the Directors, the Company is, or is likely to become, insolvent (whether or not a receiver, receiver and manager, provisional liquidator or liquidator has been appointed or mortgagee has taken possession of the property of the Company) the Directors must immediately give an Insolvency Notice (as defined in Article 141(3)) to Limited of such fact.

  • In the event that the Issuer does not duly deliver sucha notice, the Insolvency Redemption Date shall be the date which falls 30 days after the day on which the Insolvency Notice was delivered to the Issuer.

  • Revocation of Authorization; Notice of Insolvency; Notice of Change of OwnershipR20-5-212.


More Definitions of Insolvency Notice

Insolvency Notice has the meaning given in clause 12.2(a).
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Insolvency Notice has the meaning set forth in Section 8.2.6 hereof.
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Related to Insolvency Notice

  • Deficiency Notice has the meaning specified in Section 6.1(a);

  • Denial notice means a board notification denying an application for the issuance or renewal of a license as required by the Act.

  • Insolvency Filing means that a Share Issuer institutes, or has instituted against it by a court, regulator, supervisor, or any similar official with primary insolvency, rehabilitative, or regulatory jurisdiction over it in the jurisdiction of its incorporation or organization or the jurisdiction of its head or home office, or it consents to a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors' rights, or a petition is presented for its winding-up or liquidation by it or such regulator, supervisor, or similar official or it consents to such a petition, provided that proceedings instituted or petitions presented by creditors and not consented to by the Share Issuer shall not be deemed an Insolvency Filing.

  • 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.

  • Event of Insolvency means, for any Person:

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

  • Insolvency Proceeding means any proceeding commenced by or against any Person under any provision of the Bankruptcy Code or under any other state or federal bankruptcy or insolvency law, assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally with creditors, or proceedings seeking reorganization, arrangement, or other similar relief.

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • 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;

  • Step-In Notice has the meaning set out in Section 3.1;

  • Disagreement Notice has the meaning set forth in Section 2.2.3.1(b).

  • Change Notice means notice of a change to a Variable Provision given by the Distributor to the Retailer under clause 24.3;

  • Enforcement Notice means a written notice delivered, at a time when an ABL Default or Note Default has occurred and is continuing, by either the ABL Agent or the Notes Agent to the other announcing that an Enforcement Period has commenced, specifying the relevant event of default, stating the current balance of the ABL Obligations or the Note Obligations, as applicable, and requesting the current balance of the ABL Obligations or Note Obligations, as applicable, owing to the noticed party.

  • Rejection Notice has the meaning specified in Section 2.05(b)(v).

  • Repudiation/Moratorium Extension Notice means a notice from the Calculation Agent to the Issuer (which the Calculation Agent has the right but not the obligation to deliver) that describes a Potential Repudiation/Moratorium that occurred on or prior to the Scheduled Maturity Date. A Repudiation/Moratorium Extension Notice must contain a description in reasonable detail of the facts relevant to the determination that a Potential Repudiation/Moratorium has occurred and indicate the date of the occurrence. The Potential Repudiation/Moratorium that is the subject of the Repudiation/Moratorium Extension Notice need not be continuing on the date the Repudiation/Moratorium Extension Notice is effective.

  • Rejection Event means, in respect of the Benchmark, the relevant competent authority or other relevant official body rejects or refuses or will reject or refuse any application for authorisation, registration, recognition, endorsement, equivalence, approval or inclusion in any official register which, in each case, is required in relation to the Securities, the Benchmark or the administrator or sponsor of the Benchmark under any applicable law or regulation for the Issuer or any other entity to perform its obligations in respect of the Securities.

  • 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.

  • Publication Notice means the summary notice of proposed Settlement and hearing for publication substantially in the form attached as Tab 3 to Exhibit A.

  • Notice of Appeal means a notice given pursuant to Condition 6.2.

  • Selection Notice means a notice substantially in the form set out in Part II of Schedule 3 (Requests) given in accordance with Clause 9 (Interest Periods).

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Reminder Notice means a notice in writing issued in accordance with clause 7.1(1)(a).

  • Insolvent insurer means a member insurer which, after the effective date of this chapter, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency.

  • Rectification Notice means a notice in writing that identifies a defect in a work and requires rectification of the defect within a specified period of time.

  • Collection Notice means a notice, in substantially the form of Annex A to Exhibit VI, from the Agent to a Collection Bank.