Common use of Bankruptcy, Receivership, Insolvency, Etc Clause in Contracts

Bankruptcy, Receivership, Insolvency, Etc. (i) If Borrower shall (A) apply for or consent to the appointment of a receiver, trustee or liquidator for it or any of its Property, (B) be unable to pay its debts as they mature, (C) make a general assignment for the benefit of creditors, (D) be adjudicated a bankrupt or insolvent or (E) file a voluntary petition in bankruptcy, or a petition or an answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or file an answer admitting the material allegations of a petition filed against it in any proceeding under any such law, or if action shall be taken by Borrower for the purpose of effecting any of the foregoing, or (ii) If any Governmental Body of competent jurisdiction shall enter an order appointing, without consent of Borrower, a custodian, receiver, trustee or other officer with similar powers with respect to Borrower or with respect to any substantial part of the Property belonging to Borrower, or if an order for relief shall be entered in any case or proceeding for liquidation or reorganization or otherwise to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of Borrower, or if any petition for any such relief shall be filed against Borrower, and such petition shall not be dismissed within 45 days.

Bankruptcy, Receivership, Insolvency, Etc. (i) If Borrower or Guarantor shall (A) apply for or consent to the appointment of a receiver, trustee or liquidator for it or any of its Property, (B) be unable to pay its debts as they mature, (C) make a general assignment for the benefit of creditors, (D) be adjudicated a bankrupt or insolvent or (E) file a voluntary petition in bankruptcy, or a petition or an answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or file an answer admitting the material allegations of a petition filed against it in any proceeding under any such law, or if action shall be taken by Borrower or Guarantor for the purpose of effecting any of the foregoing, or (ii) If any Governmental Body of competent jurisdiction shall enter an order appointing, without consent of BorrowerBorrower or Guarantor, a custodian, receiver, trustee or other officer with similar powers with respect to Borrower or Guarantor or with respect to any substantial part of the Property belonging to BorrowerBorrower or Guarantor, or if an order for relief shall be entered in any case or proceeding for liquidation or reorganization or otherwise to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of BorrowerBorrower or Guarantor, or if any petition for any such relief shall be filed against BorrowerBorrower or Guarantor, and such petition shall not be dismissed within 45 days.

Bankruptcy, Receivership, Insolvency, Etc. (i) If Borrower or Guarantor shall (A) apply for or consent to the appointment of a receiver, trustee or liquidator for it or any of its Property, (B) be unable to pay its debts as they mature, (C) make a general assignment for the benefit of creditors, (D) be adjudicated a bankrupt or insolvent or (E) file a voluntary petition in bankruptcy, or a petition or an answer seeking reorganization or an arrangement with creditors or to take advantage of any bankruptcy, reorganization, insolvency, readjustment of debt, debt dissolution or liquidation law or statute, or file an answer admitting the material allegations of a petition filed against it in any proceeding under any such law, or if action shall be taken by Borrower or Guarantor for the purpose of effecting any of the foregoing, or (ii) If any Governmental Body of competent jurisdiction shall enter an order appointing, without consent of BorrowerBorrower or Guarantor, a custodian, receiver, trustee or other officer with similar powers with respect to Borrower or Guarantor, or with respect to any substantial part of the Property belonging to BorrowerBorrower or Guarantor, or if an order for relief shall be entered in any case or proceeding for liquidation or reorganization or otherwise to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of Borrowerof' Borrower or Guarantor, or if any petition for any such relief shall be filed against BorrowerBorrower or Guarantor, and such petition shall not be dismissed within 45 days.