Common use of Compositions Clause in Contracts

Compositions. any steps are taken, or negotiations commenced, by any Relevant Party or by any of its creditors with a view to the general readjustment or rescheduling of all or part of its Indebtedness or to proposing any kind of composition, compromise or arrangement involving such company and any of its creditors; or

Compositions. any steps are taken, or negotiations commenced, by any Relevant Party the Borrower or by any of its creditors with a view to the general readjustment or rescheduling of all or part of its Indebtedness indebtedness or to proposing any kind of composition, compromise or arrangement involving such company and any of its creditors; or

Compositions. any steps are taken, or negotiations commenced, by any Relevant Party Material Subsidiary or Obligor or by any of its creditors with a view to the general readjustment or rescheduling of all or part of its Indebtedness or to proposing any kind of composition, compromise or arrangement involving such company and any its creditors generally, other than for the purposes of its creditorsa solvent reorganisation on terms previously approved by the Agent; or