Bankruptcy or Dissolution Sample Clauses

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. 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. 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. 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. In the event any of the following circumstances shall occur with respect to either Owner or Manager, the other party may, by Notice to the party suffering such circumstances, terminate this Agreement on the fifth (5th) day following the date on which such Notice of termination is delivered to the party suffering such circumstances: (a) a general assignment by a party for the benefit of creditors; (b) the appointment of a receiver, trustee or custodian for all or any substantial part of a party’s property and assets, which appointment is not thereafter terminated within ninety (90) days; (c) the entry of any “order for relief” against a party in, or the commencement by a party of, a voluntary proceeding under present or future federal bankruptcy laws or under any other bankruptcy, insolvency or other laws respecting debtors’ rights; (d) the entry against a party of any “order for relief” or of any other judgment or decree by any court of competent jurisdiction in any involuntary proceeding against such party under present or future federal bankruptcy laws or under any other bankruptcy, insolvency or other laws respecting debtors’ rights, but only if such order, judgment or decree continues unstated and in effect for a period of sixty (60) consecutive days. In the event of a termination pursuant to this Section 11.2, Owner shall promptly pay to Manager all sums earned and unpaid through the date of termination under this Agreement, including but not limited to those amounts set forth in Section 5.12 hereof, and each party shall be entitled to pursue a claim for any amounts it is owed hereunder, including any actual damages arising therefrom. Owner shall not be required pay to Manager a termination fee if this Agreement is terminated by Manager pursuant to this Section 11.2. ​

Bankruptcy or Dissolution. Any bankruptcy, insolvency, reorganization, liquidation or winding-up proceeding in respect of the Borrower or the Company other proceeding for relief by the Borrower or the Company under any bankruptcy, insolvency, relief of debtors or other similar legislation, whether now or hereafter in effect, is instituted by or against the Borrower or the Company, unless such proceeding is terminated within 20 days after its institution, or any order, judgment or decree is entered in respect of the Borrower or the Company decreeing its liquidation, dissolution, division or winding-up or other similar action, or a meeting is called of or a proposal is made to a substantial portion of the creditors of the Borrower or the Company for the purpose of effecting a composition, moratorium or extension of debt.

Bankruptcy or Dissolution. The occurrence of any of the following with respect to Manager: (1) the commencement of a case under Title 11 of the U.S. Code, as now 17 constituted or hereafter amended, or under any other applicable federal or state bankruptcy law or other similar law (which, in the case of an involuntary proceeding, is not contested or is not dismissed within 90 days); (2) the appointment of a trustee or receiver of any property interest (which, in the case of an involuntary appointment, is not contested or is not set aside within 90 days); (3) an assignment for the benefit of creditors; (4) an attachment, execution or other judicial seizure of a substantial property interest (which is not contested or is not set aside within 90 days); (5) the taking of, failure to take, or submission to any action indicating (after reasonable investigation) an inability to meet its financial obligations as they accrue; or (6) a dissolution or liquidation.

Bankruptcy or Dissolution. Membership or participation shall terminate upon the bankruptcy, insolvency or dissolution of a Promoter Member or Participant.