An Obligor. (i) is unable or admits inability to pay its debts as they fall due; or (ii) suspends making payments on any of its debts due to it being unable to pay its debts.
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Samples: Facility Agreement, Facility Agreement (Teekay Corp), Facility Agreement (Teekay LNG Partners L.P.)
An Obligor. (i) is unable or admits inability to pay its debts as they fall due;
(ii) is deemed to, or is declared to, be unable to pay its debts under applicable law; or
(iiiii) suspends or threatens to suspend making payments on any of its debts due to it being unable to pay its debts.
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