Common use of Appointment of Receiver, Etc Clause in Contracts

Appointment of Receiver, Etc. A court shall enter a decree or order for relief in respect of the Borrower or the Guarantors in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted and remain unstayed under any applicable federal or state law; or (ii) an involuntary case is commenced against the Borrower or the Guarantors under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over the Borrower, the Guarantors or over all or a substantial part of any of their assets and properties, shall have been entered; or an interim receiver, trustee or other custodian of the Borrower, the Guarantors for all or a substantial part of their assets and properties is involuntarily appointed; or a warrant of attachment, execution or similar process is issued against any substantial part of the assets and properties of the Borrower or the Guarantors and the continuance of any such events in this clause (ii) for thirty (30) days unless dismissed, bonded, stayed, vacated or discharged; or

Appointment of Receiver, Etc. A court shall enter a decree or order for relief in respect of the Borrower or the Guarantors Guarantor in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted and remain unstayed under any applicable federal or state law; or (ii) an involuntary case is commenced against the Borrower or the Guarantors Guarantor under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over the Borrower, the Guarantors Guarantor or over all or a substantial part of any of their its assets and properties, shall have been entered; or an interim receiver, trustee or other custodian of the Borrower, Borrower or the Guarantors Guarantor for all or a substantial part of their assets and properties is involuntarily appointed; or a warrant of attachment, execution or similar process is issued against any substantial part of the assets and properties of the Borrower or the Guarantors Guarantor and the continuance of any such events in this clause (ii) for thirty (30) days unless dismissed, bonded, stayed, vacated or discharged; or

Appointment of Receiver, Etc. A court shall enter a decree or order for relief in respect of the Borrower or the Guarantors Buyer in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted and remain unstayed under any applicable federal or state law; or (ii) an involuntary case is commenced against the Borrower or the Guarantors Buyer under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over the Borrower, the Guarantors Buyer or over all or a substantial part of any of their its assets and properties, shall have been entered; or an interim receiver, trustee or other custodian of the Borrower, the Guarantors Buyer for all or a substantial part of their assets and properties is involuntarily appointed; or a warrant of attachment, execution or similar process is issued against any substantial part of the assets and properties of the Borrower or the Guarantors Buyer and the continuance of any such events in this clause (ii) for thirty (30) days unless dismissed, bonded, stayed, vacated or discharged; or