Bankruptcy Default. (i) A Credit Party or any of its Subsidiaries shall commence any case, proceeding or other action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (B) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or a Credit Party or any of its Subsidiaries shall make a general assignment for the benefit of its creditors; or (ii) there shall be commenced against a Credit Party or any of its Subsidiaries any case, proceeding or other action of a nature referred to in clause (i) above which (A) results in the entry of an order for relief or any such adjudication or appointment or (B) remains undismissed, undischarged or unbonded for a period of sixty (60) days; or (iii) there shall be commenced against a Credit Party or any of its Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of their assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within sixty (60) days from the entry thereof; or (iv) a Credit Party or any of its Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i), (ii), or (iii) above; or (v) a Credit Party or any of its Subsidiaries shall generally not, or shall be unable to, or shall admit in writing their inability to, pay its debts as they become due; or
Bankruptcy Default. The Borrower shall (i) commence any case, proceeding or other action relating to seeking to have an order for relief entered with respect to it or its debts, or seeking reorganization, liquidation, dissolution, or other such relief with respect to it or its debts, or seeking appointment of a receiver or other similar official (each of the foregoing, a “Bankruptcy Action”); (ii) become the debtor named in any Bankruptcy Action which results in the entry of an order for relief or any such adjudication or appointment described in the immediately preceding clause (i); or (iii) make a general assignment for the benefit of its creditors. In each and every Event of Default under clause (a) or (b) of this Section 2, the Lender may, without limiting any other rights it may have at law or in equity, by written notice to the Borrower, declare the unpaid principal of and interest on this Note due and payable, whereupon the same shall be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which the Borrower hereby expressly waives, and the Lender may proceed to enforce payment of such principal and interest or any part thereof in such manner as it may elect in its discretion. In each and every Event of Default, the unpaid principal of and interest on this Note shall be immediately due and payable without presentment, demand, protest or notice of any kind, all of which the Borrower hereby expressly waives, and the Lender may proceed to enforce payment of such principal and interest or any part thereof in such manner as it may elect in its discretion.
Bankruptcy Default. Upon the occurrence of an Event of Default under Section 8.1.7, the unpaid balance of the Credit Obligations shall automatically become immediately due and payable.
Bankruptcy Default. For purposes of each Operative Agreement, the occurrence and continuance of a Bankruptcy Event shall not be deemed to prohibit the Borrower from taking any action or exercising any right that is conditioned on no Bankruptcy Default, Default or Event of Default having occurred and be continuing if such Bankruptcy Default, Default or Event of Default consists of the institution of reorganization proceedings with respect to Borrower under Chapter 11 of the Bankruptcy Code and the trustee or debtor-in-possession in such proceedings shall have entered into a Section 1110 Agreement and thereafter shall have continued to perform such obligations so that it is entitled to retain possession of the Aircraft in accordance with Section 1110.
Bankruptcy Default. There shall have been entered against the Company, Cyprus Amax, Cyprus Gold, or any Shareholder a decree or order by a court adjudging the Company, Cyprus Amax, Cyprus Gold, or such Shareholder bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company, Cyprus Amax or such Shareholder under any applicable law, or appointing a receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company, Cyprus Amax, Cyprus Gold, or such Shareholder or of any substantial part of its property or assets, or ordering the winding up or liquidation of its affairs; or the Company, Cyprus Amax, Cyprus Gold, or any Shareholder shall have instituted proceedings to be adjudicated bankrupt or insolvent, or consented to the institution of bankruptcy or insolvency proceedings against it, or filed a petition or answer or consent seeking reorganization or relief under any applicable law, or consented to the filing of any such petition or to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company, Cyprus Amax, Cyprus Gold, or such Shareholder or of any substantial part of its property, or made an assignment for the benefit of creditors, or admitted in writing its inability to pay its debts generally as they become due; or any other event shall have occurred which under any applicable law would have an effect analogous to any of the events listed in this subsection; provided that any such event in respect of a Russian Shareholder shall be an Event of Default only if it has a Material Adverse Effect.
Bankruptcy Default. Subject to the proviso below, (i) any Credit Party or any Restricted Subsidiary institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors generally; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its Property, (ii) any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed under any Debtor Relief Law without the application or consent of the Credit Parties or any Restricted Subsidiary, or any proceeding under any Debtor Relief Law relating to any Credit Party or any Restricted Subsidiary, or to all or any material part of its Property, is instituted without the consent of such Person, and such appointment or proceeding shall remain undismissed and unstayed for a period of 60 consecutive days, (iii) any Credit Party or any Restricted Subsidiary becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (iv) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the Property of any such Person and is not released, vacated or fully bonded within 60 days after its issue or levy; provided, however, that any of the foregoing events, circumstances or occurrences which relate to an Immaterial Subsidiary shall not result in an Event of Default under this (e); or
Bankruptcy Default. Any Credit Party or any of its material Subsidiaries shall generally not pay its debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against any Credit Party or any of its material Subsidiaries seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee or other similar official for it or for any substantial part of its property and, in the case of any such proceeding instituted against it (but not instituted by it) that is being diligently contested by it in good faith, either such proceeding shall remain undismissed or unstayed for a period of 30 days or any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or any substantial part of its property) shall occur; or any Credit Party or any of its material Subsidiaries shall take any corporate action to authorize any of the actions set forth above in this subsection (e); or
Bankruptcy Default. Any Credit Party or any of its Subsidiaries shall generally not pay its debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against any Credit Party or any of its Subsidiaries (other than an Immaterial Subsidiary) seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, the appointment of an administrator, winding up, reorganization, arrangement, adjustment, protection, relief, moratorium or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property and, in the case of any such proceeding instituted against it (but not instituted by it) that is being diligently contested by it in good faith, either such proceeding shall remain undismissed or unstayed for a period of 60 days or any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or any substantial part of its property) shall occur; or any German Credit Party becomes illiquid (zahlungsunfähig) within the meaning of section 17 German Insolvency Code (Insolvenzordnung), its illiquidity is imminent (drohende Zahlungsunfähigkeit) within the meaning of section 18 German Insolvency Code (Insolvenzordnung) or it is over-indebted (überschuldet) within the meaning of section 19 German Insolvency Code (Insolvenzordnung); or any Luxembourg Credit Party is in cessation of payments (cessation de paiement) within the meaning of article 437 of the Luxembourg Commercial Code, enters an application to be admitted to the regime of suspension of payment (sursis de paiement), or controlled management (gestion contrôlee) or bankruptcy (faillite), or becomes subject to any of the foregoing or enters into a composition (concordat) with its creditors; in respect of any U.K. Credit Party, the value of its assets is less than its liabilities (taking into account contingent and prospective liabilities); or any Credit Party or any of its Subsidiaries (other than any Immaterial Subsidiary) shall take any corporate action to authorize any of the actions set forth above in this subsecti...
Bankruptcy Default. 11.2.1 If a petition is filed by, or an order for relief is entered against the Lessee under Chapter 7 of the United States Bankruptcy Code (the “Bankruptcy Code”) and the trustee of the Lessee elects to assume this Lease for the purpose of assigning it, the election or assignment, or both, and subject to limitations then in force under the Bankruptcy Code, the same may be made only if all of the terms and conditions of Sections 11 of this Lease are satisfied. If the trustee fails to elect to assume this Lease for the purpose of assigning it within ninety (90) days after his appointment, this Lease will be deemed to have been rejected. The Lessor shall then immediately be entitled to possession of the Leased Premises without further obligation to the Lessee or the trustee, and this Lease will be terminated. The Lessor's right to be compensated for damages in such bankruptcy proceeding, however, shall survive.
11.2.2 If the Lessee files a petition for reorganization under Chapters 11 or 13 of the Bankruptcy Code or a proceeding that is filed by or against the Lessee under any other chapter of the Bankruptcy Code is converted to a Chapter 11 or 13 proceeding.
Bankruptcy Default the Company or any of the Subsidiaries ------------------- shall fail to pay or shall admit in writing its inability to pay its debts as they become due, shall become insolvent, howsoever evidenced, or shall make a general assignment for the benefit of creditors; (ii) any proceeding shall be instituted by or against the Company or any of the Subsidiaries under any law relating to bankruptcy, insolvency, reorganization or relief of debtors or any similar law or seeking appointment of a receiver, trustee, or other similar person for it or for any Substantial Part of its property and, if such proceeding is not commenced by the Company or any of the Subsidiaries, it is consented to or acquiesced in by the Company or any of the Subsidiaries or remains undismissed for forty-five (45) days after initiation; (iii) all or a Substantial Part of the Company's or any Subsidiary's property is attached, seized, levied upon or comes within the possession of any receiver, trustee or similar person for the benefit of creditors; (iv) any action is taken or any proceeding is filed or commenced with respect to the Company's or Tomato Associates' liquidation, dissolution or termination of existence; or (v) the Company or Tomato Associates shall take any corporate action to authorize any of the actions described in this subsection (h).
