Common use of Death or Insolvency Clause in Contracts

Death or Insolvency. The dissolution or termination of Borrower's existence as a going business, the insolvency of Borrower or Grantor, the appointment of a receiver for any part of Borrower's or Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or Grantor. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor or by any governmental agency against any collateral securing the Indebtedness. This includes a garnishment of any of Borrower's or Grantors accounts, including deposit accounts, with Lenders. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lenders written notice of the creditor or forfeiture proceeding and deposits with Lenders monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lenders, in their sole discretion, as being an adequate reserve or bond for the dispute.

Death or Insolvency. The dissolution or termination of Borrower's ’s existence as a going business, ; the death of any one or more of the Guarantors; the insolvency of Borrower or Grantor, any Borrower; the appointment of a receiver for any part of Borrower's or Grantor's ’s property, ; any assignment by Borrower for the benefit of creditors, ; any type of creditor workout; or, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or GrantorBorrower. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor against any Collateral, or by any governmental agency against any collateral securing the Indebtednessagency. This includes a garnishment garnishment, attachment, or levy on or of any of Borrower's or Grantors accounts, including ’s deposit accounts, accounts with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding proceeding, and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders monies furnishes reserves or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lenders, in their sole discretion, as being an adequate reserve or bond for the disputeproceeding satisfactory to Lender.

Death or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's existence as a going businessbusiness or the death of any member, the insolvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of at Borrower's or Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower Borrower. DEFECTIVE COLLATERALIZATION. This Agreement or Grantorany of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for stay reason. Creditor or Forfeiture ProceedingsCREDITOR OR FORFEITURE PROCEEDINGS. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-self help, repossession or any other method, by any creditor of Borrower or Grantor or by any governmental agency against any collateral securing the IndebtednessLoan. This includes a garnishment of any of Borrower's or Grantors accounts, including deposit accounts, with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by LendersLender, in their its sole discretion, as being an adequate reserve or bond for the dispute.

Death or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's existence as a going businessbusiness or the death of any member, the insolvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of Borrower's or GrantorXxxxxxxx's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower Borrower. Defective Collateralization. This Agreement or Grantorany of the Related Documents ceases to be in full force and effect (Including failure of any collateral document to create a valid and perfected security Interest or lien) at any time and for any reason. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor or by any governmental agency against any collateral securing the IndebtednessLoan. This includes a garnishment of any of BorrowerXxxxxxxx's or Grantors accounts, including deposit accounts, with LendersLender. However, this Event of Default shall shell not apply if If there is Is a good faith dispute by Borrower or Grantor Xxxxxxxx as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lenders Xxxxxx written notice of the creditor or forfeiture proceeding and deposits with Lenders Lender monies or a surety bond for the creditor or forfeiture proceeding, in In an amount determined by LendersLender, in their its sole discretion, as being an adequate reserve or bond for the dispute. Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor dies or becomes Incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness.

Death or Insolvency. The dissolution (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's existence as a going businessbusiness or the death of any member, the insolvency Insolvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of Borrower's or Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or GrantorBorrower. Creditor or Forfeiture ProceedingsCREDITOR OR FORFEITURE PROCEEDINGS. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Borrower, any creditor of any Grantor or by any governmental agency against any collateral securing the Indebtedness, or by any governmental agency. This includes a garnishment garnishment, attachment, or levy on or of any of Borrower's or Grantors accounts, including deposit accounts, accounts with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor Grantor, as the case may be, as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding proceeding, and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders monies furnishes reserves or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lenders, in their sole discretion, as being an adequate reserve or bond for the disputeproceeding satisfactory to Lender.

Death or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's ’s existence as a going businessbusiness or the death of any member, the insolvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of Borrower's or Grantor's ’s property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower Borrower. Defective Collateralization. This Agreement or Grantorany of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor or by any governmental agency against any collateral securing the IndebtednessLoan. This includes a garnishment of any of Borrower's or Grantors ’s accounts, including deposit accounts, with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor Xxxxxxxx as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lenders Xxxxxx written notice of the creditor or forfeiture proceeding and deposits with Lenders Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by LendersLender, in their its sole discretion, as being an adequate reserve or bond for the dispute. Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor dies or becomes incompetent. or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness.

Death or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's existence as a going businessbusiness or the death of any member, the insolvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of Borrower's or Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower Borrower. Defective Collateralization. This Agreement or Grantorany of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor or by any governmental agency against any collateral securing the IndebtednessLoan. This includes a garnishment of any of Borrower's or Grantors accounts, including deposit accounts, with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by LendersLender, in their its sole discretion, as being an adequate reserve or bond for the dispute.

Death or Insolvency. The dissolution (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's existence as a going businessbusiness or the death of any xxxxxx, the insolvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of Borrower's or Grantor's propertyBorroxxx'x xxoperty, any assignment for the benefit of creditorscreditxxx, any xxx type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or GrantorBorrower. Creditor or Forfeiture ProceedingsCREDITOR OR FORFEITURE PROCEEDINGS. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Borrower, any creditor of any Grantor or by any governmental agency against any collateral securing the Indebtedness, or by any governmental agency. This includes a garnishment garnishment, attachment, or levy on or of any of Borrower's or Grantors accounts, including deposit accounts, accounts with LendersLender. However, this Event of Default Xxxxxlt shall not apply if there is thexx xx a good faith dispute by Borrower or Grantor Grantor, as the case may be, as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding proceeding, and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders monies proceedinx xxx furnishes reserves or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lenders, in their sole discretion, as being an adequate reserve or bond for the disputeproceeding satisfactory to Lender.

Death or Insolvency. The dissolution (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's existence as a going businessbusiness or the death of any member, the insolvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of Borrower's or Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or GrantorBorrower. Creditor or Forfeiture ProceedingsCREDITOR OR FORFEITURE PROCEEDINGS. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Borrower, any creditor of any Grantor or by any governmental agency against any collateral securing the Indebtedness, or by any governmental agency. This includes a garnishment garnishment, attachment, or levy on or of any of Borrower's or Grantors accounts, including deposit accounts, accounts with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor Grantor, as the case may be, as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding proceeding, and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders monies furnishes reserves or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lenders, in their sole discretion, as being an adequate reserve or bond for the disputeproceeding satisfactory to Lender.

Death or Insolvency. The death of Borrower or the dissolution or termination of Borrower's existence as a going business, the insolvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of Borrower's or Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or GrantorBorrower. Creditor or Forfeiture ProceedingsCREDITOR OR FORFEITURE PROCEEDINGS. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Borrower, any creditor of any Grantor or by any governmental agency against any collateral securing the Indebtednessindebtedness, or by any governmental agency. This includes a garnishment garnishment, attachment, or levy on or of any of Borrower's or Grantors accounts, including deposit accounts, accounts with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor Grantor, as the case may be, as to the validity or reasonableness of the claim calm which is the basis of the creditor or forfeiture proceeding proceeding, and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders monies furnishes reserves or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lenders, in their sole discretion, as being an adequate reserve or bond for the disputeproceeding satisfactory to Lender.

Death or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's existence as a going businessbusiness or the death of any member, the insolvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of Borrower's or Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower Borrower. DEFECTIVE COLLATERALIZATION. This Agreement or Grantorany of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. Creditor or Forfeiture ProceedingsCREDITOR OR FORFEITURE PROCEEDINGS. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor or by any governmental agency against any collateral securing the IndebtednessLoan. This includes a garnishment of any of Borrower's or Grantors accounts, including deposit accounts, with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor as to the validity or reasonableness reasonable ness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by LendersLender, in their its sole discretion, as being an adequate reserve or bond for the dispute.

Death or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's ’s existence as a going businessbusiness or the death of any member, the insolvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of Borrower's or Grantor's ’s property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower Borrower. BUSINESS LOAN AGREEMENT (ASSET BASED) Loan No: XXXXXXXXXX (Continued) Page 9 Defective Collateralization. This Agreement or Grantorany of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor or by any governmental agency against any collateral securing the IndebtednessLoan. This includes a garnishment of any of Borrower's or Grantors ’s accounts, including deposit accounts, with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by LendersLender, in their its sole discretion, as being an adequate reserve or bond for the dispute.

Death or Insolvency. The dissolution (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's existence as a going businessbusiness or the death of any member, the insolvency xxx xxxxlvency of Borrower or GrantorBorrower, the appointment of a receiver for any part of Borrower's or Grantor's propertyprxxxxxx, any assignment for the benefit of creditors, any type of xxxx xx creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or GrantorBorrower. Creditor or Forfeiture ProceedingsCREDITOR OR FORFEITURE PROCEEDINGS. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Borrower, any creditor of any Grantor or by any governmental agency against any collateral securing the Indebtedness, or by any governmental agency. This includes a garnishment garnishment, attachment, or levy on or of any of Borrower's or Grantors accounts, including deposit accounts, accounts with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor Grantor, as the case may be, as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding proceeding, and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders monies fuxxxxxxs reserves or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lenders, in their sole discretion, as being an adequate reserve or bond for the disputeproceeding satisfactory to Lender.

Death or Insolvency. The dissolution or termination of Borrower's Borrowers existence as a going business, ; the death of any one or more of the Guarantors; the insolvency of Borrower or Grantor, any Borrower; the appointment of a receiver for any part of Borrower's or Grantor's property, ; any assignment by Borrower for the benefit of creditors, ; any type of creditor workout; or, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower or GrantorBorrower. Creditor or Forfeiture ProceedingsCREDITOR OR FORFEITURE PROCEEDINGS. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-self help, repossession or any other method, by any creditor of Borrower or Grantor against any Collateral, or by any governmental agency against any collateral securing the Indebtednessagency. This includes a garnishment garnishment, attachment, or levy on or of any of Borrower's or Grantors accounts, including deposit accounts, accounts with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding proceeding, and if Borrower or Grantor gives Lenders Lender written notice of the creditor or forfeiture proceeding and deposits with Lenders monies furnishes reserves or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lenders, in their sole discretion, as being an adequate reserve or bond for the disputeproceeding satisfactory to Lender.

Death or Insolvency. The dissolution of Trustor's (regardless of whether election to continue is made), or any other termination of BorrowerTrustor's existence as a going businessbusiness or the death of any member, the insolvency of Borrower or GrantorTrustor, the appointment of a receiver for any part of Borrower's or GrantorTrustor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency Insolvency laws by or against Borrower or GrantorTrustor. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self---help, repossession or any other method, by any creditor of Borrower or Grantor Trustor or by any governmental agency against any collateral property securing the Indebtednessindebtedness. This includes a garnishment of any of BorrowerTrustor's or Grantors accounts, including deposit accounts, with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor Trustor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor Trustor gives Lenders Xxxxxx written notice of the creditor or forfeiture proceeding and deposits with Lenders Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by LendersLender, in their its sole discretion, as being an adequate reserve or bond for the dispute. Breach of Other Agreement. Any breach by Trustor under the terms of any other agreement between Trustor and Lender that is not remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Trustor to Lender, whether existing now or later. Adverse Change. A material adverse change occurs in Trustor's financial condition, or Xxxxxx believes the prospect of payment or performance of the indebtedness is impaired.

Death or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's ’s existence as a going businessbusiness or the death of any member, the insolvency of Borrower or GrantorXxxxxxxx, the appointment of a receiver for any part of Borrower's or Grantor's Xxxxxxxx’s property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower Xxxxxxxx. Defective Collateralization. This Agreement or Grantorany of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower or Grantor or by any governmental agency against any collateral securing the IndebtednessLoan. This includes a garnishment of any of Borrower's or Grantors ’s accounts, including deposit accounts, with LendersLender. However, this Event of Default shall not apply if there is a good faith dispute by Borrower or Grantor Xxxxxxxx as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower or Grantor gives Lenders Xxxxxx written notice of the creditor or forfeiture proceeding and deposits with Lenders Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by LendersLender, in their its sole discretion, as being an adequate reserve or bond for the dispute. Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the Indebtedness or any Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness.