Common use of Bankruptcy, Insolvency and Reorganization Clause in Contracts

Bankruptcy, Insolvency and Reorganization. The Buyer is not an insolvent person or insolvent within the meaning of the Bankruptcy and Insolvency Act (Canada) nor has the Buyer made an assignment in favour of its creditors nor a proposal in bankruptcy to its creditors or any class thereof nor had any petition for a receiving order presented in respect of it. The Buyer has not initiated proceedings with respect to a compromise or arrangement with its creditors or for its discontinuance, dissolution, bankruptcy, insolvency, winding up, liquidation or dissolution. No receiver has been appointed in respect of the Buyer or any of its property or assets and no execution or distress has been levied upon any of its property or assets. Except in connection with the transactions contemplated by this Agreement, no act or proceeding has been taken or authorized by or against the Buyer with respect to any amalgamation, merger, consolidation, arrangement or reorganization of, or relating to, the Buyer nor have any such proceedings been authorized by any other person.

Bankruptcy, Insolvency and Reorganization. The Buyer Purchaser is not an insolvent person or insolvent within the meaning of the Bankruptcy and Insolvency Act (Canada) nor has the Buyer Purchaser made an assignment in favour of its creditors nor a proposal in bankruptcy to its creditors or any class thereof nor had any petition for a receiving order presented in respect of it. The Buyer Purchaser has not initiated proceedings with respect to a compromise or arrangement with its creditors or for its discontinuance, dissolution, bankruptcy, insolvency, winding up, liquidation or dissolution. No receiver has been appointed in respect of the Buyer Purchaser or any of its property or assets Purchaser Assets and no execution or distress has been levied upon any of its property or assetsPurchaser Assets. Except in connection with the transactions contemplated by this Agreement, no No act or proceeding has been taken or authorized by or against the Buyer Purchaser with respect to any amalgamation, merger, consolidation, arrangement or reorganization of, or relating to, the Buyer Purchaser, nor have any such proceedings been authorized by any other personPerson.

Bankruptcy, Insolvency and Reorganization. The Buyer None of the Vendor, the Corporation or XX Xxxxx is not an insolvent person or insolvent within the meaning of the Bankruptcy and Insolvency Act (Canada) nor has the Buyer Vendor, the Corporation or XX Xxxxx made an assignment in favour of its creditors nor a proposal in bankruptcy to its creditors or any class thereof nor had any petition for a receiving order presented in respect of it. The Buyer None of the Vendor, the Corporation or XX Xxxxx has not initiated proceedings with respect to a compromise or arrangement with its creditors or for its discontinuance, dissolution, bankruptcy, insolvency, winding up, liquidation or dissolution. No receiver has been appointed in respect of the Buyer Vendor, the Corporation or XX Xxxxx or any of its their respective property or assets and no execution or distress has been levied upon any of its their respective property or assets. Except in connection with the transactions contemplated by this Agreement, no No act or proceeding has been taken or authorized by or against the Buyer Vendor, the Corporation or XX Xxxxx with respect to any amalgamation, merger, consolidation, arrangement or reorganization of, or relating to, the Buyer Vendor, the Corporation or XX Xxxxx nor have any such proceedings been authorized by any other personPerson.

Bankruptcy, Insolvency and Reorganization. The Buyer Company is not an insolvent person or insolvent within the meaning of the Bankruptcy and Insolvency Act (Canada) nor has the Buyer Company made an assignment in favour of its creditors nor a proposal in bankruptcy to its creditors or any class thereof nor had any petition for a receiving order presented in respect of it. The Buyer Company has not initiated proceedings with respect to a compromise or arrangement with its creditors or for its discontinuance, dissolution, bankruptcy, insolvency, winding up, liquidation or dissolution. No receiver has been appointed in respect of the Buyer Company or any of its property or assets and no execution or distress has been levied upon any of its property or assets. Except in connection with the transactions contemplated by this Agreement, no act or proceeding has been taken or authorized by or against the Buyer Company with respect to any amalgamation, merger, consolidation, arrangement or reorganization of, or relating to, the Buyer Company nor have any such proceedings been authorized by any other person.. SCHEDULE D FORM OF ARRANGEMENT RESOLUTION

Bankruptcy, Insolvency and Reorganization. The Buyer Neither the Purchaser nor any of the Purchaser Subsidiaries is not an insolvent person or insolvent within the meaning of the Bankruptcy and Insolvency Act (Canada) nor has the Buyer Purchaser or any Purchaser Subsidiary made an assignment in favour of its creditors nor a proposal in bankruptcy to its creditors or any class thereof nor had any petition for a receiving order presented in respect of it. The Buyer Neither the Purchaser nor any Purchaser Subsidiary has not initiated proceedings with respect to a compromise or arrangement with its creditors or for its discontinuance, dissolution, bankruptcy, insolvency, winding up, liquidation or dissolution. No receiver has been appointed in respect of the Buyer Purchaser, a Purchaser Subsidiary or any of its their respective property or assets and no execution or distress has been levied upon any of its property or assets. Except in connection with the transactions contemplated by this Agreement, no No act or proceeding has been taken or authorized by or against the Buyer Purchaser or Purchaser Subsidiary with respect to any amalgamation, merger, consolidation, arrangement or reorganization of, or relating to, the Buyer Purchaser nor have any such proceedings been authorized by any other personPerson.