Common use of Certain Bankruptcy Events Clause in Contracts

Certain Bankruptcy Events. If any of the following events shall occur and be continuing: (a) Parent, either Borrower or any Material Subsidiary shall commence any case, proceeding or other action (i) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, concurso mercantil, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (ii) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or Parent, either Borrower or any Material Subsidiaries shall make a general assignment for the benefit of its creditors; (b) there shall be commenced against Parent, either Borrower or any Material Subsidiary any case, proceeding or other action of a nature referred to in clause (a) above which (i) results in the entry of an order for relief or any such adjudication or appointment or (ii) remains undismissed, undischarged or unbonded for a period of 60 days; (c) there shall be commenced against Parent, either Borrower or any Material Subsidiary any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; (d) Parent, either Borrower or any Material Subsidiary shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (a), (b) or (c) above; or (e) Parent, either Borrower or any Material Subsidiary shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; then, and in any such event: (A) if such event is an Event of Default specified in clause (a) or (b) of this Section 7.01 with respect to Parent or either Borrower, the Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement (including all amounts of obligations under Letters of Credit, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) shall immediately become due and payable; and (B) if such event is any other Event of Default specified in this Section 7.01, any or all of the following actions may be taken: (i) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrowers, declare the Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; and (ii) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrowers, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing on account thereof under this Agreement (including all amounts due in respect of Letters of Credit, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and payable.

Certain Bankruptcy Events. If any of the following events shall ------------------------- occur and be continuing: (a) Parent, either the Guarantor or the Borrower or any of its Material Subsidiary Subsidiaries shall commence any case, proceeding or other action (i) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, concurso mercantil, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (ii) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or Parent, either the Guarantor or the Borrower or any of its Material Subsidiaries shall make a general assignment for the benefit of its creditors;; or (b) there shall be commenced against Parent, either the Guarantor or the Borrower or any of its Material Subsidiary Subsidiaries any case, proceeding or other action of a nature referred to in clause (a) above which (i) results in the entry of an order for relief or any such adjudication or appointment or (ii) remains undismissed, undischarged or unbonded for a period of 60 days;; or (c) there shall be commenced against Parent, either the Guarantor or the Borrower or any of its Material Subsidiary Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof;; or (d) Parent, either the Guarantor or the Borrower or any of its Material Subsidiary Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (a), (b) ), or (c) above; or (e) Parent, either the Guarantor or the Borrower or any of its Material Subsidiary Subsidiaries shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; then, and in any such event: (A) if such event is an Event of Default specified in clause (a) or (b) of this Section 7.01 subsection 16.1 with respect to Parent or either the Borrower, automatically the Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement (including including, without limitation, all amounts of obligations under Letters of CreditL/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) shall immediately become due and payable; and (B) if such event is any other Event of Default specified in this Section 7.01subsection 16.1, any or all of the following actions may be taken: (i) with the consent of the Required Majority Basic Lenders, the Administrative Agent may, or upon the request of the Required Majority Basic Lenders, the Administrative Agent shall, by notice to the Borrowers, Borrower declare the Revolving Credit Commitments and/or the Tranche A Commitments to be terminated forthwith, whereupon the Revolving Credit Commitments and/or the Tranche A Commitments (as the case may be) shall immediately terminate; and (ii) with the consent of the Required Majority Basic Lenders, the Administrative Agent may, or upon the request of the Required Majority Basic Lenders, the Administrative Agent shall, by notice to the BorrowersBorrower, declare the Swing Line Loans and/or the Revolving Credit Loans and/or the Tranche A Loans hereunder (with accrued interest thereon) and all other amounts owing on account thereof under this Agreement (including including, without limitation, all amounts due in respect of Letters of CreditL/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and payable; (iii) with the consent of the Majority Hybrid Lenders, the Administrative Agent may, or upon the request of the Majority Hybrid Lenders, the Administrative Agent shall, by notice to the Borrower declare the Tranche B Commitments and/or the Tranche C Commitments and/or the Tranche D Commitments to be terminated forthwith, whereupon the Tranche B Commitments and/or the Tranche C Commitments and/or the Tranche D Commitments (as the case may be) shall immediately terminate; and (iv) with the consent of the Majority Hybrid Lenders, the Administrative Agent may, or upon the request of the Majority Hybrid Lenders, the Administrative Agent shall, by notice to the Borrower, declare the Tranche B Loans and/or the Tranche C Loans and/or the Tranche D Loans (with accrued interest thereon) and all other amounts owing on account thereof under this Agreement to be due and payable forthwith, whereupon the same shall immediately become due and payable.

Certain Bankruptcy Events. If any of the following events shall occur and be continuing: (a) Parent, either Borrower or any Material Subsidiary shall commence any case, proceeding or other action (i) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, concurso mercantil, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (ii) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or Parent, either Borrower or any Material Subsidiaries shall make a general assignment for the benefit of its creditors; (b) there shall be commenced against Parent, either Borrower or any Material Subsidiary any case, proceeding or other action of a nature referred to in clause (a) above which (i) results in the entry of an order for relief or any such adjudication or appointment or (ii) remains undismissed, undischarged or unbonded for a period of 60 days; (c) there shall be commenced against Parent, either Borrower or any Material Subsidiary any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; (d) Parent, either Borrower or any Material Subsidiary shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (a), (b) or (c) above; or (e) Parent, either Borrower or any Material Subsidiary shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; then, and in any such event: (A) if such event is an Event of Default specified in clause (a) or (b) of this Section 7.01 with respect to Parent or either Borrower, the Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement (including all amounts of obligations under Letters of Credit, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) shall immediately become due and payable; and (B) if such event is any other Event of Default specified in this Section 7.01, any or all of the following actions may be taken: (i) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrowers, declare the Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; and (ii) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrowers, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing on account thereof under this Agreement (including all amounts due in respect of Letters of Credit, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and payable.

Certain Bankruptcy Events. If any of the following events shall occur and be continuing: (ai) Parent, either The Borrower or any of its Domestic Subsidiaries or Material Subsidiary Foreign Subsidiaries shall commence any case, proceeding or other action (iA) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, concurso mercantil, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (iiB) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or Parent, either the Borrower or any of its Domestic Subsidiaries or Material Foreign Subsidiaries shall make a general assignment for the benefit of its creditors; ; or (bii) there shall be commenced against Parent, either the Borrower or any of its Domestic Subsidiaries or Material Subsidiary Foreign Subsidiaries any case, proceeding or other action of a nature referred to in clause (ai) above which (iA) results in the entry of an order for relief or any such adjudication or appointment or (iiB) remains undismissed, undischarged or unbonded for a period of 60 days; ; or (ciii) there shall be commenced against Parent, either the Borrower or any of its Domestic Subsidiaries or Material Subsidiary Foreign Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; ; or (div) Parent, either the Borrower or any of its Domestic Subsidiaries or Material Subsidiary Foreign Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (ai), (b) ii), or (ciii) above; or or (ev) Parent, either the Borrower or any of its Domestic Subsidiaries or Material Subsidiary Foreign Subsidiaries shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; then, and in any such event: (A) if such event is an Event of Default specified in clause (ai) or (bii) of paragraph (a) of this Section 7.01 subsection 9.1 with respect to Parent or either the Borrower, automatically the Revolving Credit Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement (including including, without limitation, all amounts of obligations under Letters of CreditL/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) shall immediately become due and payable; and (B) if such event is any other Event of Default specified in this Section 7.01subsection 9.1, any or all of the following actions may be taken: (i) with the consent of the Required Basic Lenders, the Administrative Agent may, or upon the request of the Required Basic Lenders, the Administrative Agent shall, by notice to the Borrowers, Borrower declare the Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; and (ii) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrowers, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing on account thereof under this Agreement (including all amounts due in respect of Letters of Revolving Credit, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and payable.

Certain Bankruptcy Events. If any of the following events shall occur and be continuing: (a) Parentthe Guarantor, either the Primary Borrower or any of its Material Subsidiary Subsidiaries (including, without limitation, prior to the German Term Loan Repayment Date, either German Borrower) shall commence any case, proceeding or other action (i) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, concurso mercantil, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (ii) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or Parent, either the Guarantor or the Primary Borrower or any of its Material Subsidiaries shall make a general assignment for the benefit of its creditors;; or (b) there shall be commenced against Parent, either the Guarantor or the Primary Borrower or any of its Material Subsidiary Subsidiaries (including, without limitation, prior to the German Term Loan Repayment Date, either German Borrower) any case, proceeding or other action of a nature referred to in clause (a) above which (i) results in the entry of an order for relief or any such adjudication or appointment or (ii) remains undismissed, undischarged or unbonded for a period of 60 days;; or (c) there shall be commenced against Parent, either the Guarantor or the Primary Borrower or any of its Material Subsidiary Subsidiaries (including, without limitation, prior to the German Term Loan Repayment Date, either German Borrower) any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof;; or (d) Parent, either the Guarantor or the Primary Borrower or any of its Material Subsidiary Subsidiaries (including, without limitation, prior to the German Term Loan Repayment Date, either German Borrower) shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (a), (b) ), or (c) above; or (e) Parent, either the Guarantor or the Primary Borrower or any of its Material Subsidiary Subsidiaries (including, without limitation, prior to the German Term Loan Repayment Date, either German Borrower) shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; then, and in any such event: (A) if such event is an Event of Default specified in clause (a) or (b) of this Section 7.01 subsection 15.1 with respect to Parent or either any Borrower, automatically the Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement (including including, without limitation, all amounts of obligations under Letters of CreditDomestic L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit Domestic L/Cs shall have presented the documents required thereunder) shall immediately become due and payable; and (B) if such event is any other Event of Default specified in this Section 7.01subsection 15.1, any or all of the following actions may be taken: (i) with the consent of the Required Majority Lenders, the Administrative Agent may, or upon the request of the Required Majority Lenders, the Administrative Agent shall, by notice to the Borrowers, Primary Borrower declare the Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; and (ii) with the consent of the Required Majority Lenders, the Administrative Agent may, or upon the request of the Required Majority Lenders, the Administrative Agent shall, by notice to the BorrowersPrimary Borrower, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing on account thereof under this Agreement (including including, without limitation, all amounts due in respect of Letters of CreditDomestic L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit Domestic L/Cs shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and payable.

Certain Bankruptcy Events. If any of the following events shall occur and be continuing: (ai) Parent, either The Borrower or any of its Domestic Subsidiaries or Material Subsidiary Foreign Subsidiaries shall commence any case, proceeding or other action (iA) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, concurso mercantil, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (iiB) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or Parent, either the Borrower or any of its Domestic Subsidiaries or Material Foreign Subsidiaries shall make a general assignment for the benefit of its creditors; ; or (bii) there shall be commenced against Parent, either the Borrower or any of its Domestic Subsidiaries or Material Subsidiary Foreign Subsidiaries any case, proceeding or other action of a nature referred to in clause (ai) above which (iA) results in the entry of an order for relief or any such adjudication or appointment or (iiB) remains undismissed, undischarged or unbonded for a period of 60 days; ; or (ciii) there shall be commenced against Parent, either the Borrower or any of its Domestic Subsidiaries or Material Subsidiary Foreign Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; ; or (div) Parent, either the Borrower or any of its Domestic Subsidiaries or Material Subsidiary Foreign Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (ai), (b) ii), or (ciii) above; or or (ev) Parent, either the Borrower or any of its Domestic Subsidiaries or Material Subsidiary Foreign Subsidiaries shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; then, and in any such event: (A) if such event is an Event of Default specified in clause (ai) or (bii) of paragraph (a) of this Section 7.01 subsection 9.1 with respect to Parent or either the Borrower, automatically the Revolving Credit Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement (including including, without limitation, all amounts of obligations under Letters of CreditL/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) shall immediately become due and payable; and (B) if such event is any other Event of Default specified in this Section 7.01subsection 9.1, any or all of the following actions may be taken: (i) with the consent of the Required Basic Lenders, the Administrative Agent may, or upon the request of the Required Basic Lenders, the Administrative Agent shall, by notice to the Borrowers, Borrower declare the Revolving Credit Commitments and/or the Tranche A Term Loan Commitments to be terminated forthwith, whereupon the Revolving Credit Commitments and/or the Tranche A Term Loan Commitments (as the case may be) shall immediately terminate; and (ii) with the consent of the Required Basic Lenders, the Administrative Agent may, or upon the request of the Required Basic Lenders, the Administrative Agent shall, by notice to the BorrowersBorrower, declare the Revolving Credit Loans and/or the Tranche A Loans hereunder (with accrued interest thereon) and all other amounts owing on account thereof under this Agreement (including including, without limitation, all amounts due in respect of Letters of CreditL/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and payable; (iii) with the consent of the Required Tranche B Term Loan Lenders, the Administrative Agent may, or upon the request of the Required Tranche B Term Loan Lenders, the Administrative Agent shall, by notice to the Borrower declare the Tranche B Term Loan Commitments to be terminated forthwith, whereupon the Tranche B Term Loan Commitments shall immediately terminate; and (iv) with the consent of the Required Tranche B Term Loan Lenders, the Administrative Agent may, or upon the request of the Required Tranche B Term Loan Lenders, the Administrative Agent shall, by notice to the Borrower, declare the Tranche B Loans (with accrued interest thereon) and all other amounts owing on account thereof under this Agreement to be due and payable forthwith, whereupon the same shall immediately become due and payable.