Common use of Company Insolvency Clause in Contracts

Company Insolvency. Section 21.1. The Company shall have the duty to inform the Trustee in writing if the Company becomes insolvent, as hereinafter defined. When so informed, the Trustee shall immediately discontinue payments of Benefits to Trust Beneficiaries, and shall hold the assets of the Trust for the benefit of the Company's general creditors. The Company shall be considered "insolvent" for purposes of this Trust Agreement in the event of the following: A. the Company's inability to pay debts as they mature; B. a general assignment for the benefit of the Company's creditors;

Company Insolvency. Section 21.1. The Company shall have the duty to inform the Trustee in ------------- writing if the Company becomes insolvent, as hereinafter defined. When so informed, the Trustee shall immediately discontinue payments of Benefits to Trust Beneficiaries, and shall hold the assets of the Trust for the benefit of the Company's general creditors. The Company shall be considered "insolvent" for purposes of this Trust Agreement in the event of the following: A. the Company's inability to pay debts as they mature; B. a general assignment for the benefit of the Company's creditors;

Company Insolvency. Section 21.1. The Company shall have the duty to inform the Trustee in ------------- writing if the Company becomes insolvent, as hereinafter defined. When so informed, the Trustee shall immediately discontinue payments of Supplemental Benefits to Trust Beneficiaries, and shall hold the assets of the Trust for the benefit of the Company's general creditors. The Company shall be considered "insolvent" for purposes of this Trust Agreement in the event of the following: A. the Company's inability to pay debts as they mature; B. a general assignment for the benefit of the Company's creditors;

Company Insolvency. Section 21.1. The Company shall have the duty to inform the Trustee in ------------ writing if the Company becomes insolvent, as hereinafter defined. When so informed, the Trustee shall immediately discontinue payments of Supplemental Benefits to Trust Beneficiaries, and shall hold the assets of the Trust for the benefit of the Company's general creditors. The Company shall be considered "insolvent" for purposes of this Trust Agreement in the event of the following: A. the Company's inability to pay debts as they mature; B. a general assignment for the benefit of the Company's creditors;