Voluntary Bankruptcy Event means, with respect to a Party, the occurrence of one or more of the following where such Party: (A) applies for or consents to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property; (B) admits in writing its inability, or is generally unable, to pay its debts as such debts become due; (C) makes a general assignment for the benefit of its creditors; (D) commences a voluntary case under any bankruptcy law; (E) files a petition seeking to take advantage of any other law relating to bankruptcy, insolvency, reorganization, winding up, or composition or readjustment of debts; (F) fails to controvert in a timely and appropriate manner, or acquiesces in writing to, any petition filed against such Party in an involuntary case under any bankruptcy law; (G) takes any action for the purpose of effecting any of the foregoing.
Voluntary Bankruptcy Event means, with respect to any Person, (i) the institution by such Person of a voluntary case seeking liquidation or reorganization under any Debtor Relief Law, (ii) the consent by such Person to the institution of an involuntary case against it under any Debtor Relief Law, (iii) the application by such Person for, or the consent or acquiescence of such Person to, the appointment of a receiver, liquidator, sequestrator, trustee or other officer with similar powers, (iv) the making by such Person of an assignment of its assets for the benefit of creditors or (v) the admission of such Person in writing of its inability to pay its debts generally as they become due.
Voluntary Bankruptcy Event means the taking of any of the following actions by any Loan Party with respect to any Bankruptcy Law: (A) commencing or joining in the commencement of a voluntary case, (B) commencing or joining in the commencement of an involuntary case against any other Loan Party, (C) consenting to the entry of an order for relief against it in an involuntary case, (D) seeking or consenting to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, examiner, magistrate, arbitrator, sequestrator (or other similar official) of such Loan Party or of any substantial part of its property, (E) making a general assignment for the benefit of its creditors, (F) colluding directly or indirectly with one or more creditors of it or any other Loan Party to cause any third party to commence an involuntary case against any Loan Party, or to seek the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, examiner, magistrate, conservator, arbitrator, sequestrator (or other similar official) of any Loan Party, Property Owner or any substantial part of its property, (G) admitting in writing its inability to pay its debts as they become due, or (H) the filing of, joinder in, or filing or filing a motion in support of, a motion for the substantive consolidation of any Loan Party or Property Owner with the estate of any other Loan Party, Property Owner or any other Person.
More Definitions of Voluntary Bankruptcy Event
Voluntary Bankruptcy Event means voluntary commencement (or consent to, including, without limitation, by failure to timely defend against, either involuntary commencement or entry of an order for relief in an involuntary case) of a bankruptcy case or similar proceeding (including, without limitation, appointment of a receiver or other custodian or general assignment for the benefit of creditors) with respect to the Company or any of its Material Subsidiaries.
Voluntary Bankruptcy Event means (a) an admission in writing by a Person of its inability to pay its debts generally or a general assignment by such Person for the benefit of creditors, (b) the filing of any assignment, petition or consent thereto or answer by such Person seeking to adjudicate itself as bankrupt or insolvent, or seeking for itself any liquidation, winding-up, reorganization, arrangement, adjustment, protection, relief or composition of such Person or its debts under any present or future bankruptcy, insolvency or similar Applicable Law, or seeking, consenting to or acquiescing in the entry of an order for relief in any case under any such Applicable Law, or the appointment of or taking possession by a trustee, monitor, custodian, inspector, receiver or liquidator of such Person or for any substantial part of such Person’s property, or (c) corporate or other action taken by such Person to authorize any of the actions set forth above. SCHEDULE “D” LITIGATION
Voluntary Bankruptcy Event means, with respect to aParty, the occurrence of one or more ofthe following where such Party: (A) applies for or consents to the appointment of, or the taking ofpossession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property; (B) admits in writing its inability, or is generally unable, to payits debts as such debts become due; (C) makes a general assignment for the benefit of its creditors; (D) commences a voluntary case under any bankruptcy law; (E) files a petition seeking to take advantage ofany other law relating to bankruptcy, insolvency, reorganization, winding up, or composition or readjustment of debts; (F) fails to controvert in a timely and appropriate manner, or acquiesces in writing to, anypetition filed against such Party in an involuntary case under any bankruptcy law; (G) takes any action for the purpose of effecting any ofthe foregoing. SECTION 2.
Voluntary Bankruptcy Event means, with respect to a Party, the occurrence of one or more of the following where such Party: (A) applies for or consents to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property; (B) admits in writing its inability, or is generally unable, to pay its debts as such debts become due; (C) makes a general assignment for the benefit of its creditors;
Voluntary Bankruptcy Event means (a) an admission in writing by a Person of its inability to pay its debts generally or a general assignment by such Person for the benefit of creditors, (b) the filing of any assignment, petition or consent thereto or answer by such Person seeking to adjudicate itself as bankrupt or insolvent, or seeking for itself any liquidation, winding-up, reorganization, arrangement, adjustment, protection, relief or composition of such Person or its debts under any present or future bankruptcy, insolvency or similar Applicable Law, or seeking, consenting to or acquiescing in the entry of an order for relief in any case under any such Applicable Law, or the appointment of or taking possession by a trustee, monitor, custodian, inspector, receiver or liquidator of such Person or for any substantial part of such Person’s property, or (c) corporate or other action taken by such Person to authorize any of the actions set forth above. SCHEDULE “B” [reserved] SCHEDULE “C” FORM OF REPAYMENT NOTICE [Date] Phoenix Capital Group Holdings, LLC <> Attention: <> Dear Ladies and Gentlemen: We refer to the Amended and Restated Credit Agreement entered into as of <>, 2023, by and among Phoenix Capital Group Holdings, LLC (the “Borrower”), Cortland Credit Lending Corporation (as Agent for and on behalf of the Lenders), the Lenders described therein and the Guarantors described therein, with respect to the Credit Facility in the aggregate principal amount of the Total Commitment (that agreement as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used and not defined herein have the meanings given to them in the Credit Agreement. We hereby require and demand that you make repayment of [all Obligations] [a portion of the Outstanding Principal Obligations in an amount of_________________ ] owing under the Credit Facility by no later than [____], 20[____]. Failure to make such payment in a timely fashion will entitle the Agent to exercise any and all remedies available to it under the Credit Documents or at law. Yours truly, CORTLAND CREDIT LENDING CORPORATION, as Agent Per:_____________________________________ Name: Title: SCHEDULE “D” FORM OF COMPLIANCE CERTIFICATE [Date] Cortland Credit Lending Corporation, as Agent Royal Bank Plaza, South Tower 000 Xxx Xxxxxx, Xxxxx 0000 Toronto, Ontario M5J 2J2 Attention: Xxxx Xxxxxxxx, CEO Dear Sirs: We refer to the Amended and Restated Credit Agreement entered into as of April _...
Voluntary Bankruptcy Event means (a) an admission in writing by a Person of its inability to pay its debts generally or a general assignment by such Person for the benefit of creditors, (b) the filing of any assignment, petition or consent thereto or answer by such Person seeking to adjudicate itself as bankrupt or insolvent, or seeking for itself any liquidation, winding-up, reorganization, arrangement, adjustment, protection, relief or composition of such Person or its debts under any present or future bankruptcy, insolvency or similar Applicable Law, or seeking, consenting to or acquiescing in the entry of an order for relief in any case under any such Applicable Law, or the appointment of or taking possession by a trustee, monitor, custodian, inspector, receiver or liquidator of such Person or for any substantial part of such Person’s property, or (c) corporate or other action taken by such Person to authorize any of the actions set forth above. 4 NTD: broad definition intentional.
Voluntary Bankruptcy Event means (a) an admission in writing by a Person of its inability to pay its debts generally or a general assignment by such Person for the benefit of creditors, (b) the filing of any assignment, petition or consent thereto or answer by such Person seeking to adjudicate itself as bankrupt or insolvent, or seeking for itself any liquidation, winding-up, reorganization, arrangement, adjustment, protection, relief or composition of such Person or its debts under any present or future bankruptcy, insolvency or similar Applicable Law, or seeking, consenting to or acquiescing in the entry of an order for relief in any case under any such Applicable Law, or the appointment of or taking possession by a trustee, monitor, custodian, inspector, receiver or liquidator of such Person or for any substantial part of such Person’s property, or (c) corporate or other action taken by such Person to authorize any of the actions set forth above. Phoenix Capital Group Holdings, LLC NATDOCS\70362498\V-8 SCHEDULE “B” [reserved] Phoenix Capital Group Holdings, LLC NATDOCS\70362498\V-8 SCHEDULE “C” FORM OF REPAYMENT NOTICE [Date] Phoenix Capital Group Holdings, LLC <> Attention: <> Dear Ladies and Gentlemen: We refer to the Amended and Restated Credit Agreement entered into as of <>, 2023, by and among Phoenix Capital Group Holdings, LLC (the “Borrower”), Cortland Credit Lending Corporation (as Agent for and on behalf of the Lenders), the Lenders described therein and the Guarantors described therein, with respect to the Credit Facility in the aggregate principal amount of the Total Commitment (that agreement as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used and not defined herein have the meanings given to them in the Credit Agreement. We hereby require and demand that you make repayment of [all Obligations] [a portion of the Outstanding Principal Obligations in an amount of ] owing under the Credit Facility by no later than [], 20[]. Failure to make such payment in a timely fashion will entitle the Agent to exercise any and all remedies available to it under the Credit Documents or at law. Yours truly, CORTLAND CREDIT LENDING CORPORATION, as Agent Per: Name: Title: Phoenix Capital Group Holdings, LLC NATDOCS\70362498\V-8 SCHEDULE “D” FORM OF COMPLIANCE CERTIFICATE [Date] Cortland Credit Lending Corporation, as Agent Royal Bank Plaza, South Tower 000 Xxx Xxxxxx, Xxxxx 0000 Xxxxxxx, Xxxxxxx X0X 0X0 Attention: X...