Company Bankruptcy Sample Clauses

Company Bankruptcy. Notwithstanding anything herein to the contrary, in the event that a petition for adjudication of either Sutter or the Company (or any successor or assignee of either entxxx), as a voluntary or involuntary debtor shall be filed under the laws relating to bankruptcy and said petition is not dismissed within thirty (30) days of filing, then the restrictions and covenants of Sections 12 and 14 shall immediately be null and void.
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Company Bankruptcy. The Trustee agrees, and each Holder of the Notes by its acceptance of any note shall be deemed to agree, that it will not join in any proceeding to commence a case against the Company or a Seller under the Federal Bankruptcy Code or any other applicable bankruptcy, insolvency or similar federal or state law without the consent of the Holders of more than 66 2/3% of the aggregate Outstanding Note Balance of the Notes.
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Company Bankruptcy. The Company files a voluntary petition for debt relief under any applicable bankruptcy, insolvency, debtor relief, or other similar law now or hereafter in effect, or consents to the appointment of or taking of possession by a receiver, liquidator, assignee (other than as a part of a transfer of equipment no longer useful to the company or necessary for this Agreement), trustee (other than as security for an obligation under a deed of trust), custodian, sequestrator (or similar official) of the company for a part of the Company’s operating assets or any substantial part of the Company’s property, or shall make any general assignment for the benefit of the Company’s creditors, or shall fail generally to pay the Company’s debts as they become due.
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Company Bankruptcy. (a) If the Company becomes insolvent, files for or becomes subject to bankruptcy or a similar proceeding in state or federal court, the Company will notify the Trustee in writing as soon as possible. The notification will include confirmation of the individual(s) who will direct the Trustee. If, within sixty (60) (b) Notwithstanding any provision hereof to the contrary, in the case of bankruptcy, insolvency, or dissolution of the Company, the Trustee will have the right to petition a court of competent jurisdiction to appoint a new Trustee, the costs of such action being payable from the Trust Fund. (c) In the case of dissolution of the Company, or at any other time that the Company does not respond to requests from the Trustee for confirmation of the individuals who will provide direction to the Trustee, the Trustee may, in its sole discretion, assume the Plan has been terminated and distribute assets according to applicable law. Before the Trustee may make such assumption, however, the Trustee will send to the last known address of the Company, and the individuals who last had authority for providing direction to the Trustee, via certified mail, a written notice of the Trustee’s intent to begin such action. The Trustee will then wait at least thirty (30) days before beginning such action. (d) If the Trustee receives notice of the Company’s bankruptcy, insolvency or dissolution (either by the Company or a court of competent jurisdiction), or if the Plan has been deemed abandoned as described in Section 9.05(c) above, any fees and other expenses relating to the provision of services under this Trust Agreement (whether current or overdue) may be immediately deducted from the Trust Fund.
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Company Bankruptcy. The Sponsor will not consent to, vote for, or otherwise cause or permit (or permit any of its Affiliates, to consent to, or vote for, or otherwise cause or permit) the Company voluntarily to take any action that would result in the voluntary bankruptcy of the Company.
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Company Bankruptcy. COMPANY and LICENSEE agree that in the event a proceeding is commenced by or against COMPANY under the United States Bankruptcy Code (the "Code"), Section 365(n) of the Code will be applicable to this Agreement, and LICENSEE may, pursuant to 11 U.S.C. Sections 365(n)(1) and (2), retain any and all of LICENSEE's rights hereunder and thereunder, to the maximum extent permitted by law, subject to the payments specified herein and the conditions specified therein.
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Company Bankruptcy. If during the term of this Agreement, Company enters into bankruptcy proceedings as defined in paragraph 23.13 of the Agreement, Contractor may petition the appropriate judicial body to acquire Provided Equipment at a then negotiated Fair Market Value Purchase Price. If Contractor chooses not to petition to acquire Provided Equipment, Provided Equipment shall, at Company’s sole expense, be de-installed from Contractor’s facility, crated or otherwise prepared for shipment, and shipped to Company’s, or another otherwise designated facility. Company shall pay any customs fees necessary.
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Related to Company Bankruptcy

  • Borrower Bankruptcy To the Mortgage Loan Seller's knowledge, no Borrower under a Mortgage Loan is a debtor in any state or federal bankruptcy, insolvency or similar proceeding. To the Mortgage Loan Seller's knowledge, as of the origination of the Mortgage Loan, none of (x) the nonrecourse carveout guarantors or nonrecourse carveout indemnitors under the Mortgage Loan, (y) any tenant with respect to more than 75% of the net rentable area at the related Mortgaged Property that is an Affiliate of the Borrower or (z) the sole tenant at the Mortgaged Property (in the case of this clause (z), if substantially all of the Mortgaged Property is leased to a single tenant and the tenant was the owner of the Mortgaged Property immediately prior to the origination of the Mortgage Loan) was a debtor in any state or federal bankruptcy, insolvency or similar proceeding.

  • No Bankruptcy Developer is not now nor has it ever been in bankruptcy or receivership.

  • Obligor Bankruptcy At the Cutoff Date no Obligor had been identified on the records of AmeriCredit as being the subject of a current bankruptcy proceeding.

  • Mortgagor Bankruptcy On or prior to the date 60 days after the related Closing Date, the Mortgagor has not filed and will not file a bankruptcy petition or has not become the subject and will not become the subject of involuntary bankruptcy proceedings or has not consented to or will not consent to the filing of a bankruptcy proceeding against it or to a receiver being appointed in respect of the related Mortgaged Property;

  • Involuntary Bankruptcy If any involuntary petition is filed under any bankruptcy or similar law or rule against Investor, and such petition is not dismissed within sixty (60) days, or a receiver, trustee, liquidator, assignee, custodian, sequestrator or other similar official is appointed to take possession of any of the assets or properties of Investor.

  • Action if Bankruptcy If any Event of Default described in clauses (i) through (iv) of Section 9.1(h) with respect to the Borrower shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of the Loans and all other Obligations shall automatically be and become immediately due and payable, without notice or demand to any Person.

  • Insolvency or Bankruptcy The death, dissolution or insolvency of, appointment of a receiver by or on behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against me or any co-signer, endorser, surety or guarantor of this Agreement or any other obligations I have with you.

  • Involuntary Bankruptcy, etc If an Insolvency Proceeding is commenced against a Loan Party or any of its Subsidiaries and any of the following events occur: (a) such Loan Party or such Subsidiary consents to the institution of such Insolvency Proceeding against it, (b) the petition commencing the Insolvency Proceeding is not timely controverted, (c) the petition commencing the Insolvency Proceeding is not dismissed within 60 calendar days of the date of the filing thereof, (d) an interim trustee is appointed to take possession of all or any substantial portion of the properties or assets of, or to operate all or any substantial portion of the business of, such Loan Party or its Subsidiary, or (e) an order for relief shall have been issued or entered therein;

  • Bankruptcy Subject to Section 5(c), each Note Holder hereby covenants and agrees that only the Lead Securitization Note Holder has the right to institute, file, commence, acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any Person in any such petition or otherwise invoke or cause any other Person to invoke an Insolvency Proceeding with respect to or against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official with respect to the Mortgage Loan Borrower or all or any part of its property or assets or ordering the winding-up or liquidation of the affairs of the Mortgage Loan Borrower. Each Note Holder further agrees that only the Lead Securitization Note Holder, and not the Non-Lead Securitization Note Holder, can make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application or take any other action in any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding. The Note Holders hereby appoint the Lead Securitization Note Holder as their agent, and grant to the Lead Securitization Note Holder an irrevocable power of attorney coupled with an interest, and their proxy, for the purpose of exercising any and all rights and taking any and all actions available to the Non-Lead Securitization Note Holder in connection with any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding, including, without limitation, the right to file and/or prosecute any claim, vote to accept or reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage Loan, and to file a motion to modify, lift or terminate the automatic stay with respect to the Mortgage Loan. The Note Holders hereby agree that, upon the request of the Lead Securitization Note Holder, the Non-Lead Securitization Note Holder shall execute, acknowledge and deliver to the Lead Securitization Note Holder all and every such further deeds, conveyances and instruments as the Lead Securitization Note Holder may reasonably request for the better assuring and evidencing of the foregoing appointment and grant. All actions taken by the Servicer in connection with any Insolvency Proceeding are subject to and must be in accordance with the Servicing Standard.

  • Involuntary Bankruptcy or Insolvency Proceedings Proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Company or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Company or the debts thereof under any bankruptcy, insolvency or other similar law or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within thirty (30) days of commencement.

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