Liquidation or Bankruptcy Sample Clauses

Liquidation or Bankruptcy. All obligations (principal, interest, fees, indemnities, costs, expenses and otherwise) under the Credit Agreement shall be paid in full before any payments are made with respect to the Notes.
Sample 1
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Liquidation or Bankruptcy. This Agreement shall terminate immediately upon either party passing a resolution for the winding-up or liquidation of such party or instituting proceedings to be adjudicated bankrupt or making an assignment for the benefit of creditors, or upon a receiver or trustee in bankruptcy being appointed for either party, or upon any proceeding in bankruptcy, receivership, or liquidation being instituted against a party and continuing for 30 days without being dismissed, or upon a party otherwise ceasing to exist; provided that any right of termination set out above shall be in addition to all other rights and remedies available to the parties, if any, for default or wrong-doing by each other.
Sample 1
Liquidation or Bankruptcy. In the event of a compulsory or voluntary liquidation, the appointment of a receiver, an assignment for the benefit of creditors, or the filing of a voluntary or involuntary petition for bankruptcy by or for a party to this agreement, this agreement shall be terminated without notice.
Sample 1
Liquidation or Bankruptcy. Upon a liquidation, dissolution or winding up of Delta or Purchaser, or a Bankruptcy of Delta or Purchaser, Delta shall pay an Accelerated Earnout Amount to the Company (or its assignee(s)); provided, however, that in the event of a liquidation, dissolution, winding up or Bankruptcy of Purchaser in Periods 2, 3, or 4 (otherwise than in connection with a Bankruptcy of Delta), such right shall be exerciseable only if the actual EBIT of the Business during the immediately preceding Period was equal to or exceeded the Low EBIT for such Period. Delta shall pay to the Company by wire transfer of immediately available funds the Accelerated Earnout Amount within ten (10) days after the earlier of (A) the approval by the Purchaser's board of directors or shareholders of a liquidation, dissolution or winding up of Purchaser or (B) a Bankruptcy of Delta or Purchaser.
Sample 1
Liquidation or Bankruptcy. The Borrower is in the process of suspension of business, liquidation, reorganization, dismissing, bankruptcy (except the reorganization in which the liability would be repaid with the consent of the lender), being taken over or entrusted, revocation or cancelation of its business license; or any of such proceedings have commenced, or such administrative orders have been made, or such valid resolutions have been passed; or the liquidator, bankruptcy administrator, receiver, trustee or any other similar personnel have been designated or appointed to the business or asset, in part or in whole, of the lender or its controlling shareholders or its actual controller or its affiliates.
Sample 1
Liquidation or Bankruptcy. In the event Account Holder ceases to do business under the current business name, or files an order for bankruptcy proceedings, this Charge Account Agreement shall terminate.
Sample 1

Related to Liquidation or Bankruptcy

  • Liquidation; Dissolution; Bankruptcy Upon any payment or distribution of the assets of the Company to creditors upon a total or partial liquidation or a total or partial dissolution of the Company or in a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property:

  • Liquidation or Dissolution In the event the Company is liquidated or dissolved, the assets of the Company shall be distributed to the Members in accordance with the provisions of Section 11.

  • Insolvency or Bankruptcy The death, dissolution or insolvency of, appointment of a receiver by or on behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against me or any co-signer, endorser, surety or guarantor of this Agreement or any other obligations I have with you.

  • Obligor Bankruptcy At the Cutoff Date no Obligor had been identified on the records of AmeriCredit as being the subject of a current bankruptcy proceeding.

  • Dissolution or Liquidation To the extent not previously exercised or settled, Options, SARs and Stock Units shall terminate immediately prior to the dissolution or liquidation of the Company.

  • Liquidation, Dissolution or Winding Up (A) Upon any liquidation (voluntary or otherwise), dissolution or winding up of the Corporation, no distribution shall be made to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Junior Participating Preferred Stock unless, prior thereto, the holders of shares of Series A Junior Participating Preferred Stock shall have received an amount equal to $1,000 per share of Series A Junior Participating Preferred Stock, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment (the “Series A Liquidation Preference”). Following the payment of the full amount of the Series A Liquidation Preference, no additional distributions shall be made to the holders of shares of Series A Junior Participating Preferred Stock unless, prior thereto, the holders of shares of Common Stock shall have received an amount per share (the “Common Adjustment”) equal to the quotient obtained by dividing (i) the Series A Liquidation Preference by (ii) 1,000 (as appropriately adjusted as set forth in subparagraph (C) below to reflect such events as stock splits, stock dividends and recapitalizations with respect to the Common Stock) (such number in clause (ii), the “Adjustment Number”). Following the payment of the full amount of the Series A Liquidation Preference and the Common Adjustment in respect of all outstanding shares of Series A Junior Participating Preferred Stock and Common Stock, respectively, holders of Series A Junior Participating Preferred Stock and holders of shares of Common Stock shall receive their ratable and proportionate share of the remaining assets to be distributed in the ratio of the Adjustment Number to 1 with respect to such Preferred Stock and Common Stock, on a per share basis, respectively.

  • Mortgagor Bankruptcy On or prior to the date 60 days after the related Closing Date, the Mortgagor has not filed and will not file a bankruptcy petition or has not become the subject and will not become the subject of involuntary bankruptcy proceedings or has not consented to or will not consent to the filing of a bankruptcy proceeding against it or to a receiver being appointed in respect of the related Mortgaged Property;

  • Borrower Bankruptcy To the Mortgage Loan Seller's knowledge, no Borrower under a Mortgage Loan is a debtor in any state or federal bankruptcy, insolvency or similar proceeding. To the Mortgage Loan Seller's knowledge, as of the origination of the Mortgage Loan, none of (x) the nonrecourse carveout guarantors or nonrecourse carveout indemnitors under the Mortgage Loan, (y) any tenant with respect to more than 75% of the net rentable area at the related Mortgaged Property that is an Affiliate of the Borrower or (z) the sole tenant at the Mortgaged Property (in the case of this clause (z), if substantially all of the Mortgaged Property is leased to a single tenant and the tenant was the owner of the Mortgaged Property immediately prior to the origination of the Mortgage Loan) was a debtor in any state or federal bankruptcy, insolvency or similar proceeding.

  • No Bankruptcy There are no bankruptcy proceedings pending, being contemplated by or, to the knowledge of Seller, threatened against Seller by any third party.

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