Common use of a company or partnership Clause in Contracts

a company or partnership. a) entering into a voluntary arrangement; or b) making any formal or informal arrangement generally for the benefit of creditors; or c) any material part of income or assets being subject to seizure, distress, sequestration or other legal process; or enforcement of security rights; or d) making of any arrangement or composition or compounding with or for the benefit of creditors, or calling any meeting for the purpose of the same; or e) ceasing or threatening to cease to carry on business; or f) becoming unable to meet its debts within the meaning of s.123 IA 1986;