Common use of Bankruptcy, Insolvency, etc Clause in Contracts

Bankruptcy, Insolvency, etc. The Company or any of its Significant Subsidiaries applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for the Company or any of its Significant Subsidiaries 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 the Company or any of its Significant Subsidiaries or for a substantial part of the property of any thereof and is not discharged within 90 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 the Company or any of its Significant Subsidiaries, and if such case or proceeding is not commenced by the Company or any of its Significant Subsidiaries, it is consented to or acquiesced in by the Company or such Subsidiary or remains for 90 days undismissed; or the Company or any of its Significant Subsidiaries takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The Company or any of its Significant Subsidiaries ceases to be Solvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or the Company or any of its Significant Subsidiaries applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for the Company or any of its Significant Subsidiaries 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 the Company or any of its Significant Subsidiaries or for a substantial part of the property of any thereof and is not discharged within 90 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 the Company or any of its Significant Subsidiaries, and if such case or proceeding is not commenced by the Company or any of its Significant Subsidiaries, it is consented to or acquiesced in by the Company or such Subsidiary or remains for 90 days undismissed; or the Company or any of its Significant Subsidiaries takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The Company or any of its Significant Subsidiaries ceases to be Solvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or the Company or any of its Subsidiaries applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for the Company or any of its Significant Subsidiaries 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 the Company or any of its Significant Subsidiaries or for a substantial part of the property of any thereof and is not discharged within 90 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceeding, is commenced in respect of the Company or any of its Significant Subsidiaries, and if such case or proceeding is not commenced by the Company or any of its Significant Subsidiaries, it is consented to or acquiesced in by the Company or such Subsidiary or remains for 90 days undismissed; or the Company or any of its Significant Subsidiaries takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The Company Borrower or any of Restricted Subsidiary becomes insolvent or is generally unable to pay, or admits in writing its Significant Subsidiaries inability or refusal to pay, debts as they become due; or the Borrower or any Restricted Subsidiary applies for, or consents in writing to, or acquiesces in the appointment of of, a trustee, receiver or other custodian for the Company Borrower or any of its Significant Subsidiaries Restricted Subsidiary 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 the Company Borrower or any of its Significant Subsidiaries Restricted Subsidiary or for a substantial part of the property of any thereof and is not discharged within 90 30 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceeding, proceeding is commenced in respect of the Company Borrower or any of its Significant Subsidiaries, Restricted Subsidiary and if such case or proceeding is not commenced by the Company Borrower or any of its Significant Subsidiariessuch Restricted Subsidiary, it is consented to or acquiesced in by the Company Borrower or such Subsidiary any Restricted Subsidiary, or remains for 90 30 days undismissed; or the Company Borrower or any of its Significant Subsidiaries Restricted Subsidiary takes any corporate action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The Company or any of Subsidiary becomes insolvent or generally fails to pay, or admits in writing its Significant Subsidiaries inability or refusal to pay, debts as they become due; the Company or any Subsidiary applies for, consents to, or acquiesces in the appointment of a trustee, receiver, receiver and manager, administrator, liquidator, provisional liquidator or other custodian for the Company or any of its Significant Subsidiaries such Subsidiary or any property thereof, or makes a general assignment for the benefit of creditors; creditors or, in the absence of such application, consent or acquiescence, a trustee, receiver, receiver and manager, administrator, liquidator, provisional liquidator or other custodian is appointed for the Company or any of its Significant Subsidiaries Subsidiary or for a substantial part of the property of any thereof and is not discharged within 90 60 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceedingproceeding (except the voluntary dissolution, not under any bankruptcy or insolvency law, of a Subsidiary), is commenced in respect of the Company or any of its Significant SubsidiariesSubsidiary, and if such case or proceeding is not commenced by the Company or any of its Significant Subsidiariessuch Subsidiary, it is consented to or acquiesced in by the Company or such Subsidiary Subsidiary, or remains for 90 60 days undismissed; or the Company or any of its Significant Subsidiaries Subsidiary takes any corporate action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The Company or any of Subsidiary or Subsidiaries which, individually or in the aggregate, constitute a Significant Subsidiary becomes insolvent or generally fails to pay, or admits in writing its Significant Subsidiaries inability or refusal to pay, debts as they become due; or the Company or any such Subsidiary applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for the Company or any of its Significant Subsidiaries such Subsidiary 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 the Company or any of its Significant Subsidiaries such Subsidiary or for a substantial part of the property of any thereof and is not discharged within 90 sixty (60) days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceeding, is commenced in respect of the Company or any of its Significant Subsidiariessuch Subsidiary, and if such case or proceeding is not commenced by the Company or any of its Significant Subsidiariessuch Subsidiary, it is consented to or acquiesced in by the Company or any such Subsidiary Subsidiary, or remains for 90 thirty (30) days undismissed; or the Company or any of its Significant Subsidiaries such Subsidiary takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The Company A Designated Subsidiary --------------------------- becomes insolvent or any of admits in writing its Significant Subsidiaries inability to pay its debts or fails to pay its debts, generally as they become due; or the Designated Subsidiary applies for, consents to, or acquiesces in the appointment of of, a trustee, custodian or receiver or other custodian for the Company or any of its Significant Subsidiaries such Designated Subsidiary 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, custodian or receiver or other custodian is appointed for the Company or any of its Significant Subsidiaries Designated Subsidiary or for a substantial part of the property of any thereof and is not discharged within 90 60 days; or any bankruptcy, reorganization, debt arrangement, or other proceeding or case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceeding, proceeding is commenced in respect of the Company or any of its Significant SubsidiariesSubsidiary, and if such case or proceeding is not commenced by the Company or any of its Significant Subsidiariessuch Designated Subsidiary, it is consented to or acquiesced in by the Company or such Designated Subsidiary or remains for 90 60 days undismissed; or any corporate action is taken by the Company shareholder(s) or board of directors of any of its Significant Subsidiaries takes any action Designated Subsidiary to authorize, authorize or in furtherance of, further any of the foregoing.actions described in this Section 11.3.3. ------- ------

Bankruptcy, Insolvency, etc. The Company or any Subsidiary of ---------------------------- the Company becomes insolvent or generally fails to pay, or admits in writing its Significant Subsidiaries inability to pay, debts as they become due; or the Company or any Subsidiary of the Company applies for, consents to, or acquiesces in the appointment of of, a trustee, receiver or other custodian for the Company or any of its Significant Subsidiaries such Subsidiary 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 the Company or any Subsidiary of its Significant Subsidiaries the Company or for a substantial part of the property of any thereof and is not discharged within 90 60 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceeding, is commenced proceeding in respect of the Company or any Subsidiary of its Significant Subsidiaries, and if such case or proceeding is not commenced by the Company is voluntarily commenced or any of its Significant Subsidiaries, it is consented to or acquiesced in by the Company or such any Subsidiary of the Company; or any involuntary case or proceeding which is not consented to or acquiesced in is commenced against the Company or any Subsidiary of the Company and remains for 90 60 days undismissed; or the Company or any Subsidiary of its Significant Subsidiaries the Company takes any corporate action to authorize, or in furtherance of, any of the foregoing.; or

Bankruptcy, Insolvency, etc. The Company or any of Material Subsidiary becomes insolvent or generally fails to pay, or admits in writing its Significant Subsidiaries inability or refusal to pay, debts as they become due; or the Company or any Material Subsidiary applies for, consents to, or acquiesces in the appointment of a trustee, receiver, receiver and manager, administrator, liquidator, provisional liquidator or other custodian for the Company or any of its Significant Subsidiaries such Material Subsidiary 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, receiver and manager, administrator, liquidator, provisional liquidator or other custodian is appointed for the Company or any of its Significant Subsidiaries Material Subsidiary or for a substantial part of the property of any thereof and is not discharged within 90 60 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceedingproceeding (except the voluntary dissolution, not under any bankruptcy or insolvency law, of a Subsidiary), is commenced in respect of the Company or any of its Significant SubsidiariesMaterial Subsidiary, and if such case or proceeding is not commenced by the Company or any of its Significant Subsidiariessuch Material Subsidiary, it is consented to or acquiesced in by the Company or such Subsidiary Material Subsidiary, or remains for 90 60 days undismissed; or the Company or any of its Significant Subsidiaries Material Subsidiary takes any corporate action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. (a) The Company or any of --------------------------- Significant Affiliate becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; (b) the Company or any Significant Subsidiaries Affiliate applies for, consents to, or acquiesces in the appointment of a trustee, receiver receiver, sequestrator or other custodian for the Company or any Significant Affiliate or for a substantial part of its Significant Subsidiaries or the property of any property thereof, or makes a general assignment for the benefit of creditors; or, (c) in the absence of such application, consent or acquiescence, a trustee, receiver receiver, sequestrator or other custodian is appointed for the Company or any of its Significant Subsidiaries Affiliates or for a substantial part of the property of any thereof and is not discharged within 90 60 days; or (d) any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution dissolution, winding-up or liquidation proceeding, is commenced in respect of the Company or any of its Significant SubsidiariesAffiliates, and if such case or proceeding is not commenced by the Company or any of its Significant SubsidiariesAffiliates, it is consented to or acquiesced in by the Company or such Subsidiary Significant Affiliate or results in the entry of an order for relief or remains for 90 60 days undismissed; (e) any warrant of attachment or similar legal process is issued against any substantial part of the property of the Company or any of its Significant Subsidiaries Affiliates which is not released within 60 days after service; or (f) the Company or any Significant Affiliate takes any corporate or other action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The Company or any of Subsidiary becomes insolvent (it being understood that a Subsidiary shall not be deemed to be insolvent solely because it has negative net worth) or generally fails to pay, or admits in writing its Significant Subsidiaries inability to pay, debts as they become due; or the Company or any Subsidiary applies for, consents to, to or acquiesces in the appointment of a trustee, receiver or other custodian for the Company or any of its Significant Subsidiaries such Subsidiary 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 the Company or any of its Significant Subsidiaries Subsidiary or for a substantial part of the its property of any thereof and is not discharged within 90 30 days; or any bankruptcy, reorganization, debt arrangement, arrangement or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceedingproceeding (except the voluntary dissolution, not under any bankruptcy or insolvency law, of a Subsidiary), is commenced in respect of the Company or any of its Significant SubsidiariesSubsidiary, and and, if such case or proceeding is not commenced by the Company or any of its Significant Subsidiariessuch Subsidiary, it is consented to or acquiesced in by the Company or such Subsidiary or remains for 90 30 days undismissed; or the Company or any of its Significant Subsidiaries Subsidiary takes any corporate action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The Company Either of the Borrowers or any Subsidiary becomes insolvent other than as a result of entering into a Guaranty or generally fails to pay, or admits in writing its Significant Subsidiaries inability or refusal to pay, debts as they become due; or either of the Borrowers any Subsidiary applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for either of the Company Borrowers or any of its Significant Subsidiaries such Subsidiary 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 either of the Company Borrowers or any of its Significant Subsidiaries Subsidiary or for a substantial part of the property of any thereof and is not discharged within 90 60 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceedingproceeding (except the voluntary dissolution, not under any bankruptcy or insolvency law, of a Subsidiary), is commenced in respect either of the Company Borrowers or any of its Significant SubsidiariesSubsidiary, and if such case or proceeding is not commenced by the Company such Borrower or any of its Significant SubsidiariesSubsidiary, it is consented to or acquiesced in by the Company such Borrower or such Subsidiary Subsidiary, or remains for 90 60 days undismissed; or the Company Borrowers or any of its Significant Subsidiaries Subsidiary takes any corporate action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The Company or any of Subsidiary becomes insolvent or generally fails to pay, or admits in writing its Significant Subsidiaries inability or refusal to pay, debts as they become due; the Company or any Subsidiary applies for, consents to, or acquiesces in the appointment of a trustee, receiver, receiver and manager, administrator, liquidator, provisional liquidator or other custodian for the Company or any of its Significant Subsidiaries such Subsidiary or any property thereof, or makes a general assignment for the benefit of creditors; creditors or, in the absence of such application, consent or acquiescence, a trustee, receiver, receiver and manager, administrator, liquidator, provisional liquidator or other custodian is appointed for the Company or any of its Significant Subsidiaries Subsidiary or for a substantial part of the property of any thereof and is not discharged within 90 30 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceedingproceeding (except the voluntary dissolution, not under any bankruptcy or insolvency law, of a Subsidiary), is commenced in respect of the Company or any of its Significant SubsidiariesSubsidiary, and if such case or proceeding is not commenced by the Company or any of its Significant Subsidiariessuch Subsidiary, it is consented to or acquiesced in by the Company or such Subsidiary Subsidiary, or remains for 90 30 days undismissed; or the Company or any of its Significant Subsidiaries Subsidiary takes any corporate action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The Any MPW Company becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due; or any of its Significant Subsidiaries MPW Company applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for the such MPW Company or any of its Significant Subsidiaries 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 the any MPW Company or any of its Significant Subsidiaries or for a substantial part of the property of any thereof and is not discharged within 90 60 days; or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceeding, is commenced in respect of the Company or any of its Significant SubsidiariesMPW Company, and if such case or proceeding is not commenced by the Company or any of its Significant Subsidiariessuch MPW Company, it is consented to or acquiesced in by the Company or such Subsidiary MPW Company, or remains for 90 60 days undismissed; or the any MPW Company or any of its Significant Subsidiaries takes any action to authorize, or in furtherance of, any of the foregoing.

Bankruptcy, Insolvency, etc. The occurrence of any of the --------------------------- following events: (i) the Company or any of Restricted Subsidiary becomes insolvent or generally fails to pay, or admits in writing its Significant Subsidiaries inability or refusal to pay, debts as they become due; or (ii) the Company or any Restricted Subsidiary applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for the Company or any of its Significant Subsidiaries such Restricted Subsidiary or any property thereof, or makes a general assignment for the benefit of creditors; or, (iii) in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for the Company or any of its Significant Subsidiaries Restricted Subsidiary or for a substantial part of the property of any thereof and is not discharged within 90 60 days; or (iv) any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Lawlaw, or any dissolution or liquidation proceedingproceeding (except the voluntary dissolution, not under any bankruptcy or insolvency law, of a Restricted Subsidiary), is commenced in respect of the Company or any of its Significant SubsidiariesRestricted Subsidiary, and if such case or proceeding is not commenced by the Company or any of its Significant Subsidiariessuch Restricted Subsidiary, it is consented to or acquiesced in by the Company or such Restricted Subsidiary or remains for 90 days undismissed; or the Company or any of its Significant Subsidiaries takes any action to authorize, or in furtherance of, any of the foregoing.60 days