Examples of Act of Bankruptcy in a sentence
In addition, the Borrower hereby covenants to advise the Authority, the Oversight Agent and the Trustee promptly in writing of the occurrence of any default under the Loan or of the occurrence of an Act of Bankruptcy.
If either Party commits an Act of Bankruptcy, the other Party may terminate this Agreement in its entirety by promptly delivering written notice of termination to the bankrupt Party.
In the event that either Party is unable to pay its debts when they become due, declares bankruptcy or insolvency, or makes an assignment for the benefit of creditors (“Act of Bankruptcy”), the other Party may terminate this Agreement upon written notice to the Party to whom the Act of Bankruptcy occurred.
In addition, the Borrower hereby covenants to advise the Issuer and the Bondowner Representative promptly in writing of the occurrence of any Act of Bankruptcy.
In addition, the Borrower hereby covenants to advise the Governmental Lender and the Funding Lender promptly in writing of the occurrence of any Act of Bankruptcy.