Bankruptcy, Insolvency, etc. Any Loan Party or any Subsidiary of any Loan Party shall: (a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due; (b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for any Loan Party, any Subsidiary of any Loan Party, or any property of any thereof, or make a general assignment for the benefit of creditors; (c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, any Subsidiary of any Loan Party, or for any part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 days; (d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party or any Subsidiary of any Loan Party; provided, however, that if not commenced by any Loan Party or any Subsidiary of any Loan Party such proceeding shall be consented to or acquiesced in by such Loan Party or Subsidiary, or shall result in the entry of an order for relief or shall remain for 60 days undismissed; or (e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 3 contracts
Samples: Fifth Agreement Regarding Consents and Amendments (CatchMark Timber Trust, Inc.), Term a 4 Loan Credit Facility (CatchMark Timber Trust, Inc.), Credit Agreement (CatchMark Timber Trust, Inc.)
Bankruptcy, Insolvency, etc. Any Loan Party or any Subsidiary of any Loan Party its Subsidiaries shall:
(a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for any Loan Party, Party or any Subsidiary of any Loan Party, its Subsidiaries or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, Party or any Subsidiary of any Loan Party, its Subsidiaries or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement arrangement, or other case or proceeding under any Debtor Relief Laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party or any Subsidiary of any Loan Partyits Subsidiaries; provided, however, that if not commenced by any such Loan Party or any Subsidiary of any Loan Party its Subsidiaries such proceeding shall be consented to or acquiesced in by any such Loan Party or Subsidiaryany of its Subsidiaries, or shall result in the entry of an order for relief or shall remain for 60 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 3 contracts
Samples: Credit Agreement (GrubHub Inc.), Credit Agreement (GrubHub Inc.), Credit Agreement (GrubHub Inc.)
Bankruptcy, Insolvency, etc. Any Loan Party or any Subsidiary of any Loan Party its Subsidiaries shall:
(a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for any Loan Party, Party or any Subsidiary of any Loan Party, its Subsidiaries or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, Party or any Subsidiary of any Loan Party, its Subsidiaries or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 30 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement arrangement, or other case or proceeding under any Debtor Relief bankruptcy or insolvency Laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party or any Subsidiary of any Loan Partyits Subsidiaries; provided, however, that if not commenced by any such Loan Party or any Subsidiary of any Loan Party its Subsidiaries such proceeding shall be consented to or acquiesced in by any such Loan Party or Subsidiaryany of its Subsidiaries, or shall result in the entry of an order for relief or shall remain for 60 45 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 2 contracts
Samples: Credit Agreement (Applied Medical Corp), Credit Agreement (Applied Medical Corp)
Bankruptcy, Insolvency, etc. Any Loan Party or any Subsidiary of any Loan Party its Subsidiaries shall:
(a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for any Loan Party, Party or any Subsidiary of any Loan Party, its Subsidiaries or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, Party or any Subsidiary of any Loan Party, its Subsidiaries or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 sixty (60) days;; or
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement arrangement, or other case or proceeding under any Debtor Relief Laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party or any Subsidiary of any Loan Partyits Subsidiaries; provided, however, that if not commenced by any such Loan Party or any Subsidiary of any Loan Party its Subsidiaries such proceeding shall be consented to or acquiesced in by any such Loan Party or Subsidiaryany of its Subsidiaries, or shall result in the entry of an order for relief or shall remain for 60 sixty (60) days undismissed; or
(e) take any corporate action authorizing, undismissed or in furtherance of, any of the foregoingunstayed.
Appears in 2 contracts
Samples: Credit Agreement (Wayfair Inc.), Credit Agreement (Wayfair Inc.)
Bankruptcy, Insolvency, etc. Any Loan Party Either Borrower or any Subsidiary of any other Loan Party shall:
(a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for either Borrower or any other Loan Party, any Subsidiary of any Loan Party, Party or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for either Borrower or any other Loan Party, any Subsidiary of any Loan Party, Party or for any part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 30 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement arrangement, or other case or proceeding under any Debtor Relief bankruptcy or insolvency Laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party either Borrower or any Subsidiary of any other Loan Party; provided, however, that if not commenced by any Loan Party either Borrower or any Subsidiary of any such other Loan Party such proceeding shall be consented to or acquiesced in by either Borrower or any such other Loan Party or SubsidiaryParty, or shall result in the entry of an order for relief or shall remain for 60 30 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 2 contracts
Samples: Credit Agreement (Wells Timberland REIT, Inc.), Credit Agreement (Wells Timberland REIT, Inc.)
Bankruptcy, Insolvency, etc. Any Loan Party Either Borrower or any Subsidiary of any other Loan Party shall:
(a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for either Borrower or any other Loan Party, any Subsidiary of any Loan Party, Party or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for either Borrower or any other Loan Party, any Subsidiary of any Loan Party, Party or for any part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 30 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party either Borrower or any Subsidiary of any other Loan Party; provided, however, that if not commenced by any Loan Party either Borrower or any Subsidiary of any such other Loan Party such proceeding shall be consented to or acquiesced in by either Borrower or any such other Loan Party or SubsidiaryParty, or shall result in the entry of an order for relief or shall remain for 60 30 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 2 contracts
Samples: Credit Agreement (CatchMark Timber Trust, Inc.), Credit Agreement (Wells Timberland REIT, Inc.)
Bankruptcy, Insolvency, etc. Any Loan Party or any Subsidiary of any Loan Party shall:
(a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for any Loan Party, any Subsidiary of any Loan Party, or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, any Subsidiary of any Loan Party, or for any part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 30 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party or any Subsidiary of any Loan Party; provided, however, that if not commenced by any Loan Party or any Subsidiary of any Loan Party such proceeding shall be consented to or acquiesced in by such Loan Party or Subsidiary, or shall result in the entry of an order for relief or shall remain for 60 30 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 2 contracts
Samples: Amendment Agreement (CatchMark Timber Trust, Inc.), Credit Agreement (CatchMark Timber Trust, Inc.)
Bankruptcy, Insolvency, etc. Any Loan Party or any Subsidiary of any Loan Party its Subsidiaries shall:
(a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for any Loan Party, Party or any Subsidiary of any Loan Party, its Subsidiaries or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, Party or any Subsidiary of any Loan Party, its Subsidiaries or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 30 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement arrangement, or other case or proceeding under any Debtor Relief bankruptcy or insolvency Laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party or any Subsidiary of any Loan Partyits Subsidiaries; provided, however, that if not commenced by any such Loan Party or any Subsidiary of any Loan Party its Subsidiaries such proceeding shall be consented to or acquiesced in by any such Loan Party or Subsidiaryany of its Subsidiaries, or shall result in the entry of an order for relief or shall remain for 60 30 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 1 contract
Samples: Credit Agreement (Lannett Co Inc)
Bankruptcy, Insolvency, etc. Any Loan Party The Company or any Subsidiary of any Loan Party --------------------------- its Subsidiaries shall:
(a) become insolvent or generally fail to pay debts as they become duepay, or admit in writing its inability or unwillingness to pay pay, debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, sequestrator or other custodian for the Company or any Loan Party, any Subsidiary of any Loan Party, its Subsidiaries or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for the Company or any Loan Party, any Subsidiary of any Loan Party, its Subsidiaries or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, of any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency law, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party respect of the Company or any Subsidiary of its Subsidiaries, and, if any Loan Party; provided, however, that if such case or proceeding is not commenced by any Loan Party the Company or any Subsidiary of any Loan Party such Subsidiary, such case or proceeding shall be consented to or acquiesced in by the Company or such Loan Party or Subsidiary, Subsidiary or shall result in the entry of an order for relief or shall remain for 60 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 1 contract
Samples: Credit Agreement (Mycogen Corp)
Bankruptcy, Insolvency, etc. Any Loan Party The Borrower or any of its Subsidiary of any Loan Party shall:
(a) generally fail to pay its debts as they become due, or admit in writing its inability to pay its debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for any Loan Party, any Subsidiary of any Loan Party, the Borrower or any property such Subsidiary or any Property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for the Borrower or any Loan Party, any such Subsidiary of any Loan Party, or for any a substantial part of the property Property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 sixty (60) days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement arrangement, or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party the Borrower or any Subsidiary of any Loan Party; providedsuch Subsidiary, however, provided that if not commenced by any Loan Party the Borrower or any Subsidiary of any Loan Party such Subsidiary, such proceeding shall be consented to or acquiesced in by the Borrower or any such Loan Party or Subsidiary, or shall result in the entry of an order for relief or shall remain undismissed for 60 days undismissedmore than sixty (60) days;
(e) with respect to the Borrower, permit or suffer to exist the commencement of any case, proceeding or other action seeking the issuance of a warrant of attachment, execution, distraint or similar process against all or any material part of its Property (except for any such attachment or similar process that would constitute a Permitted Lien); or
(ef) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 1 contract
Samples: Credit Agreement (Softech Inc)
Bankruptcy, Insolvency, etc. Any Loan Party or any Subsidiary of any Loan Party Relevant Person shall:
(a) become insolvent or generally fail to pay debts as they become duepay, or admit in writing its inability or unwillingness to pay pay, debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, sequestrator or other custodian for such Relevant Person or its property under any Loan Party, any Subsidiary of any Loan Party, bankruptcy or any property of any thereofinsolvency law, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, any Subsidiary of any Loan Party, Relevant Person or for any a substantial part of the property of such Relevant Person under any thereofbankruptcy or insolvency law, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 90 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, of any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency law, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party or any Subsidiary respect of any Loan Party; providedRelevant Person under any bankruptcy or insolvency law, howeverand, that if any such case or proceeding is not commenced by any Loan Party such Relevant Person, such case or any Subsidiary of any Loan Party such proceeding shall be consented to or acquiesced in by such Loan Party or Subsidiary, Relevant Person or shall result in the entry of an order for relief or shall remain for 60 90 days undismissed; or
(e) take any corporate action authorizing, or in furtherance futherance of, any of the foregoing.
Appears in 1 contract
Bankruptcy, Insolvency, etc. Any Loan Party The Company or any Subsidiary a Material Group of any Loan Party Subsidiaries shall:
(a) become insolvent or generally fail to pay debts as they become duepay, or admit in writing its inability to pay pay, debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, sequestrator or other custodian for the Company or any Loan Party, any Subsidiary Material Group of any Loan Party, Subsidiaries or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for the Company or any Loan Party, any Subsidiary Material Group of any Loan Party, Subsidiaries or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, of any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency law, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party respect of the Company or any Subsidiary Material Group of any Loan Party; providedSubsidiaries and, however, that if such case or proceeding is not commenced by any Loan Party the Company or any Subsidiary Material Group of any Loan Party Subsidiaries, such case or proceeding shall be consented to or acquiesced in by such Loan Party the Company or Subsidiary, or shall result in the entry of an order for relief or shall remain for 60 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.Material
Appears in 1 contract
Bankruptcy, Insolvency, etc. Any Loan Party The Borrower or any Subsidiary of any Loan Party shall:
other Obligor shall (a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due;
; (b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for the Borrower or any Loan Party, any Subsidiary of any Loan Party, other Obligor or any property of any thereof, or make a general assignment for the benefit of creditors;
; (c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for the Borrower or any Loan Party, any Subsidiary of any Loan Party, other Obligor or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 thirty (30) days;
; (d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement arrangement, or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceedingproceeding (except as expressly permitted pursuant to Section 7.2.7(b), in each case, by or against any Loan Party the Borrower or any Subsidiary of any Loan Party; providedother Obligor, however, provided that if not commenced by any Loan Party the Borrower or any Subsidiary of any Loan Party such other Obligor such proceeding shall be consented to or acquiesced in by the Borrower or any such Loan Party or Subsidiaryother Obligor, or shall result in the entry of an order for relief or shall remain for 60 thirty (30) days undismissed; or
or (e) take any corporate action authorizing, or in furtherance of, any of the foregoing.. SECTION
Appears in 1 contract
Bankruptcy, Insolvency, etc. Any Loan Party The Borrower or any Subsidiary of any Loan Party the Borrower shall:
(a) generally fail to pay its debts as they become due, or admit in writing its inability to pay its debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for any Loan Party, any Subsidiary of any Loan Party, the Borrower or any property such Subsidiary or any Property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for the Borrower or any Loan Party, any such Subsidiary of any Loan Party, or for any a substantial part of the property Property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 sixty (60) days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement arrangement, or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party the Borrower or any Subsidiary of any Loan Partysuch Subsidiary; provided, however, provided that if not commenced by any Loan Party the Borrower or any Subsidiary of any Loan Party such Subsidiary, such proceeding shall be consented to or acquiesced in by the Borrower or any such Loan Party or Subsidiary, or shall result in the entry of an order for relief or shall remain undismissed or shall not be stayed, bonded or vacated for 60 days undismissed; ormore than sixty (60) days;
(e) take permit or suffer to exist the commencement of any corporate case, proceeding or other action authorizingseeking the issuance of a warrant of attachment, execution, distraint or in furtherance of, similar process against all or any material part of the foregoing.its Property (except for any such attachment or similar process that would constitute a Permitted Lien); or
Appears in 1 contract
Bankruptcy, Insolvency, etc. Any Loan Party or any Subsidiary of any Loan Party shall:
(a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for any Loan Party, any Subsidiary of any Loan Party, or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, any Subsidiary of any Loan Party, or for any part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 30 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party or any Subsidiary of any Loan Party; provided, however, that if not commenced by any Loan Party or any Subsidiary of any Loan Party such proceeding shall be consented to or acquiesced in by such Loan Party or Subsidiary, or shall result in the entry of an order for relief or shall remain for 60 30 days undismissed; oror foregoing.
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.the
Appears in 1 contract
Samples: Joinder and Amendment Agreement (CatchMark Timber Trust, Inc.)
Bankruptcy, Insolvency, etc. Any Loan Party The Company or any Subsidiary a Material Group of any Loan Party Subsidiaries shall:
(a) become insolvent or generally fail to pay debts as they become duepay, or admit in writing its inability to pay pay, debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, sequestrator or other custodian for the Company or any Loan Party, any Subsidiary Material Group of any Loan Party, Subsidiaries or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for the Company or any Loan Party, any Subsidiary Material Group of any Loan Party, Subsidiaries or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, of any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency law, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party respect of the Company or any Subsidiary Material Group of any Loan Party; providedSubsidiaries and, however, that if such case or proceeding is not commenced by any Loan Party the Company or any Subsidiary Material Group of any Loan Party Subsidiaries, such case or proceeding shall be consented to or acquiesced in by such Loan Party the Company or Subsidiary, any Material Group of Subsidiaries or shall result in the entry of an order for relief or shall remain for 60 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 1 contract
Bankruptcy, Insolvency, etc. Any Loan Party or any Subsidiary of any Loan Party the Sponsor shall:
(a) become insolvent or generally fail to pay debts as they become duepay, or admit in writing its inability to pay pay, its debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, sequestrator or other custodian for any such Loan Party, any Subsidiary of any Loan Party, Party or any substantial part of its property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any such Loan Party, any Subsidiary of any Loan Party, Party or for any a substantial part of the property of any thereofits property, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 sixty (60) days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, of any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency law, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any with respect to such Loan Party or any Subsidiary of any Loan Party; providedthe Sponsor, howeverand, that if such case or proceeding is not commenced by any Loan Party it, such case or any Subsidiary of any Loan Party such proceeding shall be consented to or acquiesced in by such Loan Party or Subsidiary, the Sponsor or shall result in the entry of an order for relief or shall remain for 60 sixty (60) days undismissed; or
(e) take any corporate or company action authorizing, or in furtherance of, any of the foregoing.
Appears in 1 contract
Bankruptcy, Insolvency, etc. Any Loan Party The Borrower or any Subsidiary of any Loan Party shall:
(a) become insolvent or generally fail to pay debts as they become duepay, or admit in writing its inability to pay pay, debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, sequestrator or other custodian for any Loan Party, the Borrower or any Subsidiary of any Loan Party, or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, the Borrower or any Subsidiary of any Loan Party, or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 thirty (30) days, provided that the Borrower and each Subsidiary hereby expressly authorizes each Bank Party to appear in any court conducting any relevant proceeding during such thirty (30) day period to preserve, protect and defend their rights under this Agreement and each other Loan Document;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, of any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency law, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party or any Subsidiary of any Loan Party; provided, however, that if not commenced by any Loan Party or any Subsidiary of any Loan Party such proceeding shall be consented to or acquiesced in by such Loan Party or Subsidiary, or shall result in the entry of an order for relief or shall remain for 60 days undismissed; orin
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
Appears in 1 contract
Bankruptcy, Insolvency, etc. Any Loan Party The Borrower or any Material Restricted Subsidiary of any Loan Party shall:
(a) become insolvent or generally fail to pay debts as they become duepay, or admit in writing its inability or unwillingness generally to pay pay, debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, sequestrator or other custodian for any Loan Party, any Subsidiary substantial part of any Loan Party, or any the property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, any Subsidiary of any Loan Party, or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, of any bankruptcy, reorganization, debt arrangement or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency law, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each caserespect thereof, by and, if any such case or against any Loan Party or any Subsidiary of any Loan Party; provided, however, that if proceeding is not commenced by any Loan Party the Borrower or any Subsidiary of any Loan Party such Subsidiary, such case or proceeding shall be consented to or acquiesced in by the Borrower or such Loan Party or Subsidiary, as the case may be, or shall result in the entry of an order for relief or shall remain for 60 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
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Samples: Credit Agreement (Regal Cinemas Inc)
Bankruptcy, Insolvency, etc. Any Loan Party Borrower or any Subsidiary of any Loan Party other Obligor shall:
(a) generally fail to pay debts as they become due, or admit in writing its inability to pay debts as they become due;
(b) apply for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator, or other custodian for any Loan Party, Borrower or any Subsidiary of any Loan Party, other Obligor or any property of any thereof, or make a general assignment for the benefit of creditors;
(c) in the absence of such application, consent or acquiescence, permit or suffer to exist the involuntary appointment of a trustee, receiver, sequestrator or other custodian for any Loan Party, Borrower or any Subsidiary of any Loan Party, other Obligor or for any a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within 60 30 days;
(d) permit or suffer to exist the involuntary commencement of, or voluntarily commence, any bankruptcy, reorganization, debt arrangement arrangement, or other case or proceeding under any Debtor Relief Lawsbankruptcy or insolvency laws, or permit or suffer to exist the involuntary commencement of, or voluntarily commence, any dissolution, winding up or liquidation proceeding, in each case, by or against any Loan Party Borrower or any Subsidiary of any Loan Party; providedother Obligor, however, provided that if not commenced by any Loan Party Borrower or any Subsidiary of any Loan Party other Obligor such proceeding shall be consented to or acquiesced in by such Loan Party any Borrower or Subsidiaryany Obligor, or shall result in the entry of an order for relief or shall remain for 60 30 days undismissed; or
(e) take any corporate action authorizing, or in furtherance of, any of the foregoing.
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