Common use of Involuntary Bankruptcy Clause in Contracts

Involuntary Bankruptcy. If, within 60 days after the filing of a bankruptcy petition or the commencement of any proceeding against the Borrower seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, the proceeding shall not have been dismissed, or, if within 30 days after the appointment, without the consent or acquiescence of the Borrower, of any trustee, receiver or liquidator of the Borrower or all or any substantial part of the properties of the Borrower, the appointment shall not have been vacated;

Appears in 8 contracts

Samples: Term Loan and Security Agreement (AeroGrow International, Inc.), Term Loan and Security Agreement (AeroGrow International, Inc.), Term Loan and Security Agreement (AeroGrow International, Inc.)

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Involuntary Bankruptcy. If, within 60 sixty (60) days after the filing of a bankruptcy petition or the commencement of any proceeding against the Borrower seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, the proceeding shall not have been dismissed, or, if within 30 days sixty (60) days, after the appointment, without the consent or acquiescence of the Borrower, of any trustee, receiver or liquidator of the Borrower or all or of any substantial part of the properties of the Borrower, the appointment shall not have been vacated;

Appears in 1 contract

Samples: Loan Agreement (FRP Holdings, Inc.)

Involuntary Bankruptcy. If, within 60 sixty (60) days after the filing of a bankruptcy petition or the commencement of any proceeding against the Borrower Maker seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, the proceeding shall not have been dismissed, or, if within 30 days sixty (60) days, after the appointment, without the consent or acquiescence of the Borrower, Maker of any trustee, receiver or liquidator of the Borrower Maker or all or any substantial part of the properties of the BorrowerMaker, the appointment shall not have been vacated;.

Appears in 1 contract

Samples: Asset Purchase and Sale Agreement (Transnational Financial Network Inc)

Involuntary Bankruptcy. If, within 60 days after the filing of a bankruptcy petition or the commencement of any proceeding against the any Borrower seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, the proceeding shall not have been dismissed, or, if within 30 days 60 days, after the appointment, without the consent or acquiescence of the such Borrower, of any trustee, receiver or liquidator of the any Borrower or all or any substantial part of the properties of the such Borrower, the appointment shall not have been vacated;

Appears in 1 contract

Samples: Loan Agreement (American Defense Systems Inc)

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Involuntary Bankruptcy. If, within 60 days after the filing of a bankruptcy petition or the commencement of any proceeding against the Borrower seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, the proceeding shall not have been dismissed, or, if within 30 60 days after the appointment, without the consent or acquiescence of the Borrower, of any trustee, receiver or liquidator of the Borrower or all or any substantial part of the properties of the Borrower, the appointment shall not have been vacated;; or

Appears in 1 contract

Samples: Virginia Gas Co

Involuntary Bankruptcy. If, within 60 days after the filing of a bankruptcy petition or the commencement of any proceeding against the Borrower seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, the proceeding shall not have been dismissed, or, if within 30 days after the appointment, without the consent or acquiescence of the 12 Borrower, of any trustee, receiver or liquidator of the Borrower or all or any substantial part of the properties of the Borrower, the appointment shall not have been vacated;; (g)

Appears in 1 contract

Samples: Term Loan and Security Agreement

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