Common use of Insolvency; Voluntary Proceedings Clause in Contracts

Insolvency; Voluntary Proceedings. The Borrower or any of its Subsidiaries shall (a) have an order for relief entered with respect to it under the Federal or state bankruptcy laws as now or hereafter in effect, (b) make a general assignment for the benefit of creditors, (c) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (d) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (e) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.06, (f) fail to contest in good faith any appointment or proceeding described in Section 7.07 or (g) not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower Holdco or any of its Subsidiaries shall (ai) have an order for relief entered with respect to it under the Federal or state bankruptcy laws as now or hereafter in effect, (bii) make a general assignment for the benefit of creditors, (ciii) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (div) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (ev) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.067.6, (fvi) fail to contest in good faith any appointment or proceeding described in Section 7.07 7.7 or (gvii) not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower or any of its Subsidiaries shall (ai) have an order for relief entered with respect to it under the Federal or state bankruptcy laws as now or hereafter in effect, (bii) make a general an assignment for the benefit of creditors, (ciii) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (div) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (ev) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.067.6, (fvi) fail to contest in good faith any appointment or proceeding described in Section 7.07 7.7 or (gvii) not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower or any of its Subsidiaries shall (ai) have an order for relief entered with respect to it under the Federal or state bankruptcy laws Bankruptcy Laws as now or hereafter in effect, (bii) make a general an assignment for the benefit of creditors, (ciii) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (div) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws Bankruptcy Laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts debt under any law relating to bankruptcy, insolvency or reorganization or relief of debtors to fail or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (ev) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.067.01(f), (fvi) fail to contest in good faith any appointment or proceeding described in Section 7.07 7.01(g) or (gvii) become unable to pay, not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower Holdco or any of its Subsidiaries shall (a) have an order for relief entered with respect to it under the Federal or state bankruptcy laws as now or hereafter in effect, (b) make a general assignment for the benefit of creditors, (c) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (d) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (e) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.06, (f) fail to contest in good faith any appointment or proceeding described in Section 7.07 or (g) not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower or any of its Subsidiaries shall (ai) have an order for relief entered with respect to it under the Federal or state bankruptcy laws as now or hereafter in effect, (bii) make a general an assignment for the benefit of creditors, (ciii) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (div) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (ev) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.067.6, (fvi) fail to contest in good faith any appointment or proceeding described in Section 7.07 7.7 or (g) not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower Parent or any of its Subsidiaries shall (ai) have an order for relief entered with respect to it under the Federal or state bankruptcy laws as now or hereafter in effect, (bii) make a general an assignment for the benefit of creditors, (ciii) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (div) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts debt under any law relating to bankruptcy, insolvency or reorganization or relief of debtors to fail or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (ev) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.067.1(f), (fvi) fail to contest in good faith any appointment or proceeding described in Section 7.07 7.1(g) or (gvii) become unable to pay, not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower or any of its Material Domestic Subsidiaries shall (a) have an order for relief entered with respect to it under the Federal or state bankruptcy laws as now or hereafter in effect, (b) make a general assignment for the benefit of creditors, (c) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (d) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (e) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.06, (f) fail to contest in good faith any appointment or proceeding described in Section 7.07 or (g) not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower Any Credit Party or any of its --------------------------------- Subsidiaries shall (ai) have an order for relief entered with respect to it under the Federal or state bankruptcy laws as now or hereafter in effect, (bii) make a general an assignment for the benefit of creditors, (ciii) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (div) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (ev) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.067.6, (fvi) fail to contest in good faith any appointment or proceeding described in Section 7.07 7.7 or (g) not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower or any of its --------------------------------- Subsidiaries shall (ai) have an order for relief entered with respect to it under the Federal or state bankruptcy laws as now or hereafter in effect, (bii) make a general an assignment for the benefit of creditors, (ciii) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (div) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (ev) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.067.6, (fvi) fail to contest in good faith any appointment or proceeding described in Section 7.07 7.7 or (g) not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower or any of its Subsidiaries shall (a) have an order for relief entered with respect to it under the Federal or state bankruptcy laws as now or hereafter in effect, (b) make a general assignment for the benefit of creditors, (c) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (d) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (e) take any corporate or partnership action to 119 authorize or effect any of the foregoing actions set forth in this Section 7.06, (f) fail to contest in good faith any appointment or proceeding described in Section 7.07 or (g) not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower or any of its Material Subsidiaries shall (ai) have an order for relief entered with respect to it under the Federal or state bankruptcy laws Bankruptcy Laws as now or hereafter in effect, (bii) make a general an assignment for the benefit of creditors, (ciii) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (div) institute any proceeding seeking an order for relief under the Federal or state bankruptcy laws Bankruptcy Laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts debt under any law relating to bankruptcy, insolvency or reorganization or relief of debtors to fail or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (ev) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.067.01(f), (fvi) fail to contest in good faith any appointment or proceeding described in Section 7.07 7.01(g) or (gvii) become unable to pay, not pay, or admit in writing its inability to pay, its debts generally as they become due.

Insolvency; Voluntary Proceedings. The Borrower or any of its Subsidiaries shall Any Obligor (a) have has an order for relief entered with respect to it such Obligor under the Federal or state federal bankruptcy laws as now or hereafter in effect, ; (b) make a general makes an assignment for the benefit of creditors, ; (c) apply applies for, seekseeks, consent to, consents to or acquiesce in, acquiesces in the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it such Obligor or any Substantial Portion substantial portion of its Property, such Obligor's property; (d) institute institutes any proceeding Proceeding seeking an order for relief under the Federal or state federal bankruptcy laws as now or hereafter in effect effect, or seeking to adjudicate it a such Obligor as bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it such Obligor or its debts under any law relating to bankruptcy, insolvency or insolvency, reorganization or relief of debtors debtors, or fail fails to file an answer or other pleading denying the material allegations of any such proceeding Proceeding filed against it, ; (e) take takes any corporate or partnership entity action to authorize or effect any of the foregoing actions set forth in provisions of this Section 7.06, 11.6; or (f) fail fails to contest in good faith any appointment or proceeding Proceeding described in this Section 7.07 or (g) not pay, or admit in writing its inability to pay, its debts generally as they become due11.6.