Common use of Death or Insolvency Clause in Contracts

Death or Insolvency. The dissolution of Grantor’s (regardless of whether election to continue is made), any member withdraws from the limited liability company, or any other termination of Grantor’s existence as a going business or the death of any member, the insolvency of Grantor, the appointment of a receiver for any part of 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 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 Grantor or by any governmental agency against any property securing the Indebtedness. This includes a garnishment of any of Grantor’s accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.

Death or Insolvency. The dissolution of Grantor’s Borrower (regardless of whether election to continue is made), any member withdraws from the limited liability companyBorrower, or any other termination of GrantorBorrower’s existence as a going business or the death of any member, the insolvency of GrantorBorrower, the appointment of a receiver for any part of GrantorBorrower’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 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 Grantor Borrower or by any governmental agency against any property collateral securing the Indebtednessloan. This includes a garnishment of any of GrantorBorrower’s accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Grantor Borrower as to the validity or of reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Grantor Borrower gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.

Death or Insolvency. The dissolution of Grantor’s (regardless of whether election to continue is made), any member withdraws from the limited liability company, or any other termination of Grantor’s existence as a going business or the death of any member, . the insolvency of Grantor, Granter. the appointment of a receiver for any part of GrantorGxxxxxx’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 GrantorGranter. 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 Grantor or by any governmental agency against any property securing the Indebtedness. This includes a garnishment of any of Grantor’s accounts, including deposit accounts, . with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender Lxxxxx written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, . in its sole discretion, as being an adequate reserve or bond for the dispute.

Death or Insolvency. The dissolution of Grantor’s Borrower (regardless of whether election to continue is made), any member withdraws from the limited liability companyBorrower, or any other termination of GrantorBorrower’s existence as a going business or the death of any member, the insolvency of GrantorBorrower, the appointment of a receiver for any part of GrantorBorrower’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 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 Grantor Borrower or by any governmental agency against any property collateral securing the Indebtednessloan. This includes a garnishment of any of GrantorBorrower’s accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Grantor Borrower as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Grantor Borrower gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.

Death or Insolvency. The dissolution of GrantorTrustor’s (regardless of whether election to continue is made), any member withdraws from the limited liability company, or any other termination of GrantorTrustor’s existence as a going business or the death of any member, the insolvency of GrantorTrustor, the appointment of a receiver for any part of 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 laws by or against 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 Grantor Trustor or by any governmental agency against any property securing the Indebtedness. This includes a garnishment of any of GrantorTrustor’s accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Grantor Trustor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Grantor Trustor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.