Common use of Bankruptcy, Insolvency, etc Clause in Contracts

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property of any thereof and is not discharged within sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligor, and if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, or remains undismissed for sixty (60) days; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor Borrower becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; , or any Obligor Borrower applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor itself or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor Borrower or for a substantial part of the property of any thereof and is not discharged within sixty thirty (6030) days; , or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any ObligorBorrower, and if such case or proceeding is not commenced by such ObligorBorrower, it is consented to or acquiesced in by such ObligorBorrower, or remains undismissed for sixty thirty (6030) days; or any Obligor Borrower takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor Either Borrower becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor either Borrower applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor the Borrower or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor either Borrower or for a substantial part of the property of any thereof and is not discharged within sixty (60) 60 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligoreither Borrower, and if such case or proceeding is not commenced by such Obligorthe Borrower, it is consented to or acquiesced in by such Obligorthe Borrower, or remains undismissed for sixty (60) days30 days undismissed; or any Obligor either Borrower takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor Borrower becomes insolvent or ----------------------------- generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor Borrower applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor Borrower or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor Borrower or for a substantial part of the property of any thereof and is not discharged within sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any ObligorBorrower, and if such case or proceeding is not commenced by such ObligorBorrower, it is consented to or acquiesced in by such ObligorBorrower, or remains undismissed for sixty (60) days; or any Obligor Borrower takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor Borrower becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor Borrower applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor Borrower or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor Borrower or for a substantial part of the property of any thereof Borrower and is not discharged within sixty thirty (6030) days; or any bankruptcyBankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy Bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any ObligorBorrower, and if such case or proceeding is not commenced by such ObligorBorrower, it is consented to or acquiesced in by such ObligorBorrower, or remains undismissed for sixty thirty (6030) days; or any Obligor Borrower takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property of any thereof and is not discharged within sixty (60) daysthereof; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligor, and if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, or remains undismissed for sixty (60) days; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor The Borrower becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts pay Debts as they become due; or any Obligor the Borrower applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor the Borrower or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor the Borrower or for a substantial part of the property of any thereof and is not discharged within sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligorthe Borrower, and if such case or proceeding is not commenced by such Obligorthe Borrower, it is consented to or acquiesced in by such Obligorthe Borrower, or remains undismissed for sixty (60) days; or any Obligor the Borrower takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, its debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property of any thereof and is not discharged within sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligor, and if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, or remains undismissed for sixty (60) days; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property of any thereof and is not discharged within sixty one hundred and twenty (60120) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligor, and if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, or remains undismissed for sixty one hundred and twenty (60120) days; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property of any thereof and is not discharged within sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any ObligorObligor , and if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, or remains undismissed for sixty (60) days; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property of any thereof and is not discharged within sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligor, and if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, or remains undismissed un-dismissed for sixty (60) days; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor Borrower becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor Borrower applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor Borrower or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor Borrower or for a substantial part of the property of any thereof Borrower and is not discharged within sixty forty-five (6045) days; or any bankruptcyBankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy Bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any ObligorBorrower, and if such case or proceeding is not commenced by such ObligorBorrower, it is consented to or acquiesced in by such ObligorBorrower, or remains undismissed for sixty forty-five (6045) days; or any Obligor Borrower takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property of any thereof and is not discharged within sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligor, and if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, or remains undismissed for sixty (60) days]; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property of any thereof and is not discharged dismissed within sixty (60) daysdays after the appointment thereof; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligor, and if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, or remains undismissed for sixty (60) days; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property of any thereof Obligor and is not discharged within sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligor, and if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, or remains undismissed for sixty (60) days; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor The Borrower becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor the Borrower applies for, consents to, or acquiesces in the appointment of of, a trustee, . receiver or other custodian for such Obligor the Borrower or any property thereofof its property, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor the Borrower or for a substantial part of the its property of any thereof and is not discharged within sixty forty-five (6045) days; or any bankruptcy, bankruptcy reorganization, ' debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligorthe Borrower, and and, if such case or proceeding is not commenced by such Obligorthe Borrower, it is consented to or acquiesced in by such Obligor, the Borrower or remains undismissed for sixty forty- five (6045) daysdays undismissed; or any Obligor the Borrower takes any corporate action to authorize, or in furtherance of, any of the foregoing.;

Bankruptcy, Insolvency, etc. Any Obligor The Borrower becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, its debts as they become due; or any Obligor the Borrower applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor the Borrower or any property thereofof its property, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor the Borrower or for a substantial part of the property of any thereof the Borrower and is not discharged within sixty (60) 60 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligorthe Borrower, and if such case or proceeding is not commenced by such Obligorthe Borrower, it is consented to or acquiesced in by such Obligorthe Borrower, or remains undismissed for sixty (60) days60 days undismissed; or any Obligor the Borrower takes any action to authorize, or in furtherance of, authorize any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property Property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property Property of any thereof and is not discharged within sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligor, and and, if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, Obligor or remains undismissed for sixty (60) days; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor UNIOIL becomes insolvent or ---------------------------- generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor UNIOIL applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor UNIOIL or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor UNIOIL or for a substantial part of the property of any thereof and is not discharged within sixty thirty (6030) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, proceeding is commenced in respect of any Obligor, UNIOIL and if such case or proceeding is not commenced by such ObligorUNIOIL, it is consented to or acquiesced in by such ObligorUNIOIL, or is not dismissed or remains undismissed for sixty thirty (6030) days; days or any Obligor UNIOIL takes any action to authorize, or in the furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor Borrower becomes insolvent or generally fails to pay, or admits in writing its his inability or refusal to pay, debts as they become due; or any Obligor Borrower applies for, consents to, or acquiesces in the appointment of a trustee, receiver receiver, or other custodian for such Obligor Borrower or any property thereofof Borrower, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent consent, or acquiescence, a trustee, receiver receiver, or other custodian is appointed for any Obligor Borrower or for a substantial part of the property of any thereof Borrower and is not discharged within sixty (60) 30 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, law or any dissolution or liquidation proceeding, proceeding is commenced in respect of any ObligorBorrower, and if such case or proceeding is not commenced by such ObligorBorrower, it is consented to or acquiesced in by such ObligorBorrower, or remains undismissed for sixty (60) days30 days undismissed; or any Obligor Borrower takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor Borrower becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor Borrower applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor Borrower or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor Borrower or for a substantial part of the property of any thereof Borrower and is not discharged within sixty (60) days; or any bankruptcyBankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy Bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any ObligorBorrower, and if such case or proceeding is not commenced by such ObligorBorrower, it is consented to or acquiesced in by such ObligorBorrower, or remains undismissed for sixty (60) days; or any Obligor Borrower takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor (i) Borrower becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or (ii) any Obligor Borrower applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor Borrower or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor Borrower or for a substantial part of the property of any thereof and is not discharged within sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any ObligorBorrower, and if such case or proceeding is not commenced by such ObligorBorrower, it is consented to or acquiesced in by such ObligorBorrower, or remains undismissed for sixty (60) days; or any Obligor Borrower takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. Any Obligor becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any Obligor applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Obligor or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Obligor or for a substantial part of the property of any thereof and is not discharged within sixty ninety (6090) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Obligor, and if such case or proceeding is not commenced by such Obligor, it is consented to or acquiesced in by such Obligor, or remains undismissed for sixty ninety (6090) days; or any Obligor takes any action to authorize, or in furtherance of, any of the foregoing.