Bankruptcy or Dissolution. The General Partner, by agreeing to be bound by this Agreement, shall be deemed to resign as the General Partner upon its bankruptcy, insolvency, dissolution, liquidation or winding-up or upon the commencement of any act or proceeding in connection therewith which is not contested in good faith by the General Partner, or the appointment of a trustee in bankruptcy, receiver or receiver-manager of the affairs of the General Partner.
Bankruptcy or Dissolution. Grantee shall immediately report to the City, as soon as it becomes known, the initiation of bankruptcy proceedings, or corporate or partnership dissolution.
Bankruptcy or Dissolution. The occurrence of any Bankruptcy/ Dissolution Event with respect to Owner. For purposes of this Section 6.2(c), a “Bankruptcy/Dissolution Event with respect to Owner” shall mean the commencement or occurrence of any of the following: if Owner shall apply for or consent to the appointment of a receiver, trustee, or liquidator of all or a substantial part of Owner’s assets, file a voluntary petition in bankruptcy, make a general assignment for the benefit of creditors, file a petition or any answer seeking reorganization or arrangement with creditors, or take advantage of any insolvency law, or if an order, judgment, or decree shall be entered by a court of competent jurisdiction, on the application of a creditor, adjudicating Owner as bankrupt or appointing a receiver, trustee, or liquidator of Owner with respect to all or a substantial part of Owner’s assets, and such order, judgment or decree shall continue in effect for any period of ninety (90) consecutive days.
Bankruptcy or Dissolution. Manager may terminate this Agreement upon the occurrence of any Bankruptcy/ Dissolution Event with respect to Tenant. For purposes of this clause (ii), a “Bankruptcy/Dissolution Event with respect to Tenant” shall mean the commencement or occurrence of any of the following: If Tenant shall apply for or consent to the appointment of a receiver, trustee, or liquidator of all or a substantial part of Tenant’s assets, file a voluntary petition in bankruptcy, make a general assignment for the benefit of creditors, file a petition or any answer seeking reorganization or arrangement with creditors, or take advantage of any insolvency law, or if an order, judgment, or decree shall be entered by a court of competent jurisdiction on the application of a creditor adjudicating Tenant as bankrupt or appointment a receiver, trustee, or liquidator of Tenant with respect to all or a substantial part of Tenant’s assets, and such order, judgment or decree shall continue in effect for any period of ninety (90) consecutive days.
Bankruptcy or Dissolution. Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings for relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against a Borrower or any order, judgment or decree decreeing a party’s dissolution or division, which is not discharged within thirty (30) days thereafter (provided that Lender shall not be obligated to extend any Loans to such Borrower during such period) shall be entered against a Borrower.
Bankruptcy or Dissolution. The bankruptcy, dissolution, liquidation or termination of a Member shall not cause the termination or dissolution of the Company and the business of the Company shall continue. Upon the occurrence of a bankruptcy or the dissolution (without reconstitution within sixty (60) days thereafter) of any Member, the membership of such Member shall terminate, and the trustee, receiver, or legal representative of such Member shall have all the rights of such Member for the purpose of settling or managing its estate or property, subject to satisfying conditions precedent to the admission of such assignee as a substitute Member including the same right (subject to the same limitations) as the terminated Members would have had to transfer. its interest in the Company, subject to certain substitution rules and other provisions of this Agreement. The transfer by such trustee, receiver, of any Company Interest shall be subject to all of the restrictions, to which such transfer would have been subject if such transfer had been made by such terminated Member.
Bankruptcy or Dissolution. Either party may terminate this Agreement immediately upon written notice in the event the other files or has an action filed against it for bankruptcy which is not withdrawn or stayed within sixty (60) days. The CCDA may terminate this Agreement immediately upon written notice in the event of the dissolution of BLD Clay County.
Bankruptcy or Dissolution. In the event that either party dissolves or becomes insolvent, or if any petition under federal or State law pertaining to bankruptcy or insolvency or for a reorganization or arrangement or other relief from creditors shall be filed by or against either party, or if a receiver, trustee or similar officer or creditor's committee shall be appointed to take charge of any property of or to operate or wind up the affairs of either party, then the other party may by written notice terminate this Agreement.
Bankruptcy or Dissolution. Membership or participation shall terminate upon the bankruptcy, insolvency or dissolution of a Promoter Member or Participant.
Bankruptcy or Dissolution. The General Partner shall cease to be qualified to act as General Partner upon:
(a) making an assignment for the benefit of creditors;
(b) filing a voluntary petition in bankruptcy;
(c) being adjudicated a bankrupt or insolvent;
(d) filing a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any statute, law, or regulation;
(e) filing an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of the nature referred to in Section 8.3(d) above;
(f) seeking, consenting to, or acquiescing in the appointment of a trustee, receiver or liquidator of the General Partner or of all or any substantial part of its properties;
(g) failure to dismiss any proceeding commenced against the General Partner to attach or charge its partnership interest or seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any statute, law or regulation within 120 days after its commencement; or
(h) failure to vacate or stay a court order attaching or charging the General Partner's partnership interest or the appointment without the General Partner's consent or acquiescence of a trustee, receiver or liquidator of the General Partner or of all or any substantial part of its properties, within 90 days after such order or appointment. Upon the General Partner ceasing to be qualified to act as such as set forth above or as otherwise provided under the Partnership Act, the General Partner shall be removed as General Partner effective upon the appointment of a new General Partner by the Partners made by Ordinary Resolution, which appointment shall be made within 90 days following the occurrence of the event giving rise to the disqualification of the General Partner. The General Partner agrees to provide notice to the Limited Partners of the occurrence of any of the foregoing events forthwith after the occurrence of the event.
