Bankruptcy; Insolvency; Dissolution. (i) The filing by Borrower, any Guarantor, any indemnitor, or any partner or member of Borrower of a petition for relief under the Bankruptcy Reform Act of 1978 (II USC Section 101-1330) as now or hereafter amended or recodified (“Bankruptcy Code”), or under any other present or future state or federal law regarding bankruptcy, reorganization or other debtor relief law; (ii) the filing against Borrower, Guarantor, any indemnitor, or any partner or member of Borrower of an involuntary proceeding under the Bankruptcy Code or other debtor relief law and the failure of Borrower to effect a full dismissal of such proceeding within 30 days after the date of filing such proceeding; (iii) a general assignment by Borrower, Guarantor, any indemnitor, or any partner or member of Borrower for the benefit of creditors; or (iv) Borrower, Guarantor, any indemnitor, or any partner or member of Borrower applying for, or the appointment of, a receiver, trustee, custodian or liquidator of Borrower or any of its property; or
Bankruptcy; Insolvency; Dissolution. (A) Any court of competent jurisdiction shall sign an order (1) adjudicating Mortgagor, its sole member, or any Guarantor (which term when used in this Mortgage shall mean any guarantor of payment of the indebtedness) bankrupt or insolvent, (2) appointing a receiver, trustee or liquidator of the Property or Collateral or of a substantial part of the property of Mortgagor, its sole member, or any Guarantor, or (3) approving a petition for, or effecting an arrangement in bankruptcy, or any other judicial modification or alteration of the rights of Mortgagee or of other creditors of Mortgagor, its sole member, or any Guarantor; or
(B) Mortgagor, its sole member, or any Guarantor shall (1) apply for or consent to the appointment of a receiver, trustee or liquidator for it or for any of its property, (2) as debtor, file a voluntary petition in bankruptcy, or petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or an answer admitting the material allegations of a petition filed against it and any proceeding under such law, (3) admit in writing an inability to pay its debts as they mature, or (4) make a general assignment for the benefit of creditors; or
(C) An involuntary petition in bankruptcy is filed against Mortgagor, its sole member, or any Guarantor and the same is not vacated or stayed within 90 days of the filing date.
Bankruptcy; Insolvency; Dissolution. (A) Any court of competent jurisdiction shall sign an order (i) adjudicating Trustor, or any person, partnership or corporation holding an ownership interest in Trustor or in any partnership comprising Trustor, or any guarantor (which term when used in this Deed of Trust shall mean guarantor of payment of the indebtedness) bankrupt or insolvent, (ii) appointing a receiver, trustee or liquidator of the Property or of a substantial part of the property of Trustor, or any person, partnership or corporation holding an ownership interest in Trustor, or in any partnership comprising Trustor, or any guarantor, or (iii) approving a petition for, or effecting an arrangement in bankruptcy, or any other judicial modification or alteration of the rights of Beneficiary or of other creditors of Trustor, or any person, partnership or corporation holding an ownership interest in Trustor, or in any partnership comprising Trustor or any guarantor; or
(B) Trustor, any person, partnership or corporation holding an ownership interest in Trustor or in any partnership comprising Trustor, shall (i) apply for or consent to the appointment of a receiver, trustee or liquidator for it or for any of its property, (ii) as debtor, file a voluntary petition in bankruptcy, or petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or an answer admitting the material allegations of a petition filed against it and any proceeding under such law, (iii) admit in writing an inability to pay its debts as they mature, or (iv) make a general assignment for the benefit of creditors; or
(C) An involuntary petition in bankruptcy is filed against Trustor, or any person, partnership or corporation holding an ownership interest in Trustor or in any partnership comprising Trustor and the same is not vacated or stayed within 30 days of the filing date.
Bankruptcy; Insolvency; Dissolution. (i) Any court of competent jurisdiction shall enter an order (A) adjudicating any Borrower or any general partner of any Borrower bankrupt or insolvent, (B) appointing a receiver, trustee or liquidator of any of the Portfolio Properties or of a substantial part of the property of any Borrower or any general partner of any Borrower, or (C) approving a petition for, or effecting an arrangement in bankruptcy, or any other judicial modification or alteration of the rights of Lender or of other creditors of any Borrower or any general partner of any Borrower, in each case unless such order is discharged, stayed or dismissed within one hundred and twenty (120) day; or
(ii) any Borrower or any general partner of any Borrower shall (A) apply for or consent to the appointment of a receiver, trustee or liquidator for it or for any of its property, (B) as debtor, file a voluntary petition in bankruptcy, or petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or an answer admitting the material allegations of a petition filed against it and any proceeding under such law, (C) admit in writing an inability to pay its debts as they mature, or (D) make a general assignment for the benefit of creditors; or
(iii) An involuntary petition in bankruptcy is filed against any Borrower or any general partner of Borrower and the same is not vacated or stayed within one hundred and twenty (120) days of the filing date.
Bankruptcy; Insolvency; Dissolution. (i) The filing by Borrower, any partner, manager, member, or joint venturer of Borrower, any Guarantor or any Indemnitor of a petition for relief under the Bankruptcy Code, or under any other present or future state or federal law regarding bankruptcy, reorganization or other debtor relief law; (ii) the filing against Borrower, any partner, manager or member of Borrower, any Guarantor or any Indemnitor, of an involuntary proceeding under the Bankruptcy Code or other debtor relief law and the failure of Borrower to effect a full dismissal of such proceeding within thirty (30) days after the date of filing such proceeding; (iii) a general assignment by Borrower, any partner, manager or member of Borrower, any Guarantor or any Indemnitor for the benefit of creditors; or (iv) Borrower, any partner, manager or member of Borrower, any Guarantor or any Indemnitor applying for, or the appointment of, a receiver, trustee, custodian or liquidator of Borrower or any of its property; or
Bankruptcy; Insolvency; Dissolution. (i) The filing by Borrower, any Guarantor, any partner or member of Borrower, or any Indemnitor of a petition for relief under the Bankruptcy Code, or under any other present or future state or federal law regarding bankruptcy, reorganization or other debtor relief law; (ii) the filing against Borrower, any Guarantor, any partner or member of Borrower, or any Indemnitor of an involuntary proceeding under the Bankruptcy Code or other debtor relief law and the failure of Borrower to effect a full dismissal of such proceeding within thirty (30) days after the date of filing such proceeding ; (iii) a general assignment by Borrower, any Guarantor, any partner or member of Borrower, or any Indemnitor for the benefit of creditors; or (iv) Borrower, any Guarantor, any partner or member of Borrower, or any Indemnitor applying for, or the appointment of, a receiver, trustee, custodian or liquidator of Borrower or any of its property; or
Bankruptcy; Insolvency; Dissolution. (i) The filing by Borrower, any of Lxxx Lakes Owner, and/or Maple Grove Owner, or the general partner of Borrower of a petition for relief under the Bankruptcy Reform Act of 1978 (11 U.S.C. Sections 101-1330) as now or hereafter amended or recodified ("Bankruptcy Code"), or under any other present or future state or federal law regarding bankruptcy, reorganization or other debtor relief law; (ii) the filing against Borrower, Lxxx Lakes Owner, and/or Maple Grove Owner, or the general partner of Borrower of an involuntary proceeding under the Bankruptcy Code or other debtor relief law and the failure of such entity to effect a full dismissal of such proceeding within 90 days after the date of filing such proceeding; (iii) a general assignment by Borrower, any of Lxxx Lakes Owner, Maple Grove Owner and/or Omaha, or the general partner of Borrower for the benefit of creditors; or (iv) Borrower, any of Lxxx Lakes Owner, Maple Grove Owner and/or Omaha or the general partner of Borrower applying for, or the appointment of, a receiver, trustee, custodian or liquidator of Borrower or any of its property; or
Bankruptcy; Insolvency; Dissolution. (i) The filing by Borrower, any Guarantor, or any general partner of Borrower, of a petition for relief under the Bankruptcy Code, or under any other present or future state or federal law regarding bankruptcy, reorganization or other debtor relief law; (ii) the filing against Borrower, any Guarantor, or any general partner of Borrower, of an involuntary proceeding under the Bankruptcy Code or other debtor relief law and the failure of Borrower to effect a full dismissal of such proceeding within thirty (30) days after the date of filing such proceeding; (iii) a general assignment by Borrower, any Guarantor, or any general partner of Borrower for the benefit of creditors; or (iv) Borrower, any partner, manager or member of Borrower, or any Guarantor, applying for, or the appointment of, a receiver, trustee, custodian or liquidator of Borrower or any of its property; or
Bankruptcy; Insolvency; Dissolution. Any court of competent jurisdiction shall sign an order (a) adjudicating BORROWER, or any general partner of BORROWER, or any guarantor (which term when used in this Security Deed shall mean guarantor of payment of the indebtedness) bankrupt or insolvent, (b) appointing a receiver, trustee or liquidator of the Subject Property or of a substantial part of the property of BORROWER, or any general partner of BORROWER, or any guarantor, or (c) approving a petition for, or effecting an arrangement in bankruptcy, or any other judicial modification or alteration of the rights of LENDER or of other creditors of BORROWER, or any general partner of BORROWER, or any guarantor; or BORROWER, any general partner of BORROWER or any guarantor, shall (i) apply for or consent to the appointment of a receiver, trustee or liquidator for it or for any of its property, (ii) as debtor, file a voluntary petition in bankruptcy, or petition or answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or an answer admitting the material allegations of a petition filed against it and any proceeding under such law, (iii) admit in writing an inability to pay its debts as they mature, or (iv) make a general assignment for the benefit of creditors.
Bankruptcy; Insolvency; Dissolution. (i) The filing by Borrower or any Guarantor (the "Specified Persons") of a petition for relief under the Bankruptcy Code, or under any other present or future state or federal law regarding bankruptcy, reorganization or other debtor relief law; (ii) the filing against any of the Specified Persons of an involuntary proceeding under the Bankruptcy Code or other debtor relief law and the failure of any of the Specified Persons to effect a full dismissal of such proceeding within sixty (60) days after the date of filing such proceeding; (iii) a general assignment by any of the Specified Persons for the benefit of creditors; or (iv) any of the Specified Persons applying for, or the appointment of, a receiver, trustee, custodian or liquidator of any of the Specified Persons or any of their respective property; or
