APPOINTMENT OF RECEIVER OR LIQUIDATOR Sample Clauses

APPOINTMENT OF RECEIVER OR LIQUIDATOR. A receiver or liquidator has been appointed or allowed to be appointed of all or any part of the undertaking of the Borrower.
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APPOINTMENT OF RECEIVER OR LIQUIDATOR. A receiver or liquidator is appointed or allowed to be appointed of all or any part of the undertaking of the Company.
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APPOINTMENT OF RECEIVER OR LIQUIDATOR. It is hereby stipulated and agreed between the parties that in the event of the appointment of a receiver to the Lessee, whether provisional or permanent, and/or a pre-liquidator and/or liquidator and/or should a winding up order have been granted against it, and should such aforesaid appointment or order not have been cancelled within 90 days, the very fact of such appointment and/or the grant of such order and the non cancellation thereof within the period of time set out above shall amount to a fundamental breach of this Agreement, and it is hereby expressly agreed that in such circumstances the validity of this Agreement shall lapse and neither the Lessee, the receiver, the pre-liquidator and/or liquidator shall have any further rights in and to the Premises (save for the right to take therefrom the Lessee's property found therein) and such receiver, pre- liquidator and/or liquidator shall be obliged to vacate the Premises and to restore possession thereof to the Company within the 90 days referred to above.
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APPOINTMENT OF RECEIVER OR LIQUIDATOR. It is hereby agreed and declared that in any case where a receiver, interim or permanent, and/or a preliminary liquidator and/or a liquidator in appointed for the Lessee and/or the Company, and/or a winding up order is made against it, and such appointment or order is not revoked within 90 days the fact of such appointment and/or the making of such order and the non revocation thereof within the said period of time shall constitute a fundamental breach of this Agreement. It is hereby expressly agreed that in such circumstances the validity of this Lease Agreement shall terminate, this Lease Agreement shall be deemed to have been rescinded with effect from the date of the appointment of such receiver and/or preliminary liquidator and/or liquidator and/or from the date that the said winding up order was made, and in connection therewith all the provisions that apply in a case of rescission of the Lease Agreement as specified in clause 48 below, shall have effect. Where the validity of the Lease Agreement has been terminated as a result of the appointment of a receiver and/or a preliminary liquidator and/or a liquidator of the Lessee or as a result of the making of a winding up order against the Lessee as aforesaid, then with effect from the date of such termination as aforesaid of the Lease Agreement neither the Lessee not the receiver, preliminary liquidator and/or liquidator shall have any further rights at all in the demised premises.
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APPOINTMENT OF RECEIVER OR LIQUIDATOR. An encumbrancer takes possession or an administrative or other receiver or an administrator is appointed of the whole or (in the reasonable opinion of the Debenture Trustee) any substantial part of the property, assets or revenues of the Issuer (as the case may be) and is not discharged within 90 (Ninety) days.
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Related to APPOINTMENT OF RECEIVER OR LIQUIDATOR

  • Appointment of Receiver To the extent permitted by Applicable Law, the Administrative Agent and the Lenders shall be entitled to the appointment of a receiver for the assets and properties of the Borrower and its Subsidiaries, without notice of any kind whatsoever and without regard to the adequacy of any security for the Obligations or the solvency of any party bound for its payment, to take possession of all or any portion of the property and/or the business operations of the Borrower and its Subsidiaries and to exercise such power as the court shall confer upon such receiver.

  • Appointment of Liquidator Upon the Company’s dissolution, the Member will appoint a liquidator, who may but need not be the Member. The liquidator will wind up and liquidate the Company in an orderly, prudent and expeditious manner in accordance with this Article 6.02.

  • Appointment of Receiver, Etc (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries) in an involuntary case under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal or state law; or (ii) an involuntary case shall be commenced against Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries) under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or 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 Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries), or over all or a substantial part of its property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for sixty (60) days without having been dismissed, bonded or discharged; or

  • Appointment of receivers and managers any administrative or other receiver is appointed anywhere of any Security Party or any part of its assets and/or undertaking or any other steps are taken to enforce any Encumbrance over all or any part of the assets of any Security Party; or

  • Appointment of a Receiver To the extent permitted by applicable law, if an Event of Default shall have occurred and be continuing, and the Equipment Notes either shall have been accelerated pursuant to Section 4.02 or have become due at maturity, the Loan Trustee shall, as a matter of right, be entitled to the appointment of a receiver (who may be the Loan Trustee or any successor or nominee thereof) for all or any part of the Collateral, whether such receivership be incidental to a proposed sale of the Collateral or the taking of possession thereof or otherwise, and, to the extent permitted by applicable law, the Company hereby consents to the appointment of such a receiver and will not oppose any such appointment. Any receiver appointed for all or any part of the Collateral shall be entitled to exercise all the rights and powers of the Loan Trustee with respect to the Collateral.

  • Involuntary Bankruptcy; Appointment of Receiver, Etc (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of Borrower or any of its Subsidiaries (other than any Immaterial Subsidiaries) in an involuntary case under any Insolvency Law, which decree or order is not stayed; or any other similar relief shall be granted under any Applicable Law; or (ii) an involuntary case or proceeding (including the filing of any notice of intention in respect thereof) shall be commenced against Borrower or any of its Subsidiaries (other than any Immaterial Subsidiaries) under any Insolvency 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, receiver-manager, administrative receiver, administrator, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Borrower or any of its Subsidiaries (other than any Immaterial Subsidiaries), or over all or a substantial part of its property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee, custodian or similar officer of Borrower or any of its Subsidiaries (other than any Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Borrower or any of its Subsidiaries (other than any Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for sixty days without having been dismissed, bonded or discharged; or

  • Appoint Receiver Lender shall have the right to have a receiver appointed to take possession of all or any part of the Collateral, with the power to protect and preserve the Collateral, to operate the Collateral preceding foreclosure or sale, and to collect the rents from the Collateral and apply the proceeds, over and above the cost of the receivership, against the Obligations. The receiver may serve without bond if permitted by law. Xxxxxx’s right to the appointment of a receiver shall exist whether or not the apparent value of the Collateral exceeds the Obligations by a substantial amount. Employment by Xxxxxx shall not disqualify a person from serving as a receiver.

  • Liquidator Upon dissolution of the Company, the Manager shall select one or more Persons to act as Liquidator. In the case of a dissolution of the Company, (i) the Liquidator (if other than the Manager) shall be entitled to receive such compensation for its services as may be separately approved by the affirmative vote of the holders of not less than a majority of the Common Shares then Outstanding entitled to vote on such liquidation; (ii) the Liquidator (if other than the Manager) shall agree not to resign at any time without 15 days’ prior notice and may be removed at any time, with or without cause, by notice of removal separately approved by the affirmative vote of the holders of not less than a majority of the Common Shares then Outstanding entitled to vote on such liquidation; (iii) upon dissolution, death, incapacity, removal or resignation of the Liquidator, a successor and substitute Liquidator (who shall have and succeed to all rights, powers and duties of the original Liquidator) shall within 30 days thereafter be separately approved by the affirmative vote of the holders of not less than a majority of the Common Shares then Outstanding entitled to vote on such liquidation. The right to approve a successor or substitute Liquidator in the manner provided herein shall be deemed to refer also to any such successor or substitute Liquidator approved in the manner herein provided. Except as expressly provided in this Article VIII, the Liquidator approved in the manner provided herein shall have and may exercise, without further authorization or consent of any of the parties hereto, all of the powers conferred upon the Manager and its officers under the terms of this Agreement (but subject to all of the applicable limitations, contractual and otherwise, upon the exercise of such powers) necessary or appropriate to carry out the duties and functions of the Liquidator hereunder for and during the period of time required to complete the winding up and liquidation of the Company as provided for herein. In the case of a termination of the Company, other than in connection with a dissolution of the Company, the Manager shall act as Liquidator.

  • Voluntary Bankruptcy; Appointment of Receiver, Etc (i) Holdings or any of its Subsidiaries shall have an order for relief entered with respect to it or shall commence a voluntary case under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, or shall consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; or Holdings or any of its Subsidiaries shall make any assignment for the benefit of creditors; or (ii) Holdings or any of its Subsidiaries shall be unable, or shall fail generally, or shall admit in writing its inability, to pay its debts as such debts become due; or the board of directors (or similar governing body) of Holdings or any of its Subsidiaries (or any committee thereof) shall adopt any resolution or otherwise authorize any action to approve any of the actions referred to herein or in Section 8.1(f); or

  • Powers of Receiver Subject to any restriction imposed by the Lender, every Receiver shall (in addition to any powers vested in them at law) have all the rights conferred on the Lender under clause 11.3.

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