Dissolution/Bankruptcy Sample Clauses

Dissolution/Bankruptcy a) If WP shall take any steps to dissolve itself as a corporation, or if a Bankruptcy Event (as defined below) shall occur with respect to WP, the City may, at its option: (i) take an assignment of WP’s rights and obligations under the Network Agreement; or (ii) assign WP’s rights and obligations under the Network Agreement to a third party; provided that any such third party assignee shall be (A) a City-controlled authority or quasi-governmental entity or (B) a recognized organization qualified or capable of being qualified under Section 501(c)(3) of the Code.

Dissolution/Bankruptcy. Dissolution, termination of existence, insolvency (failure to pay its debts as they mature or the failure to maintain the fair market value of its assets in an amount greater than its liabilities on a consolidated basis for purposes herein, whichever shall first occur), a business failure, appointment of a receiver, assignment for the benefit of creditors or the commencement of any proceedings under any bankruptcy or insolvency law by or against Borrower or any guarantor or the making by either Borrower or any guarantor of any offer or settlement, exchange or composition to their respective unsecured creditors generally ;

Dissolution/Bankruptcy. The Committee shall terminate the Plan within 12 months following a dissolution of the Company or successor Company taxable under Code §331 or with approval of a bankruptcy court under 11 U.S.C. §503(b)(1)(A), provided that the Deferred Compensation is paid to the Participants and is included in the Participants’ gross income in the latest calendar year: (i) in which the plan termination occurs; (ii) in which the amounts are no longer subject to a Substantial Risk of Forfeiture; or (iii) in which the payment is administratively practicable.

Dissolution/Bankruptcy. 15.1. The Company shall be dissolved and its affairs wound up upon the earliest to occur of the following: (i) the termination of the legal existence of the last remaining Member of the Company or the occurrence of any other event which terminates the continued membership of the last remaining Member of the Company unless the Company is continued without dissolution in a manner permitted by this Agreement or the DLLCA; or (ii) the entry of a decree of judicial dissolution of the Company under the DLLCA; or (iii) subject Section 15.2, upon the written determination of the Members. Upon the occurrence of any event that causes the last remaining Member of the Company to cease to be a member of the Company, to the fullest extent permitted by law, the personal representative of such Member is hereby authorized to, and shall, within 90 days after the occurrence of the event that terminated the continued membership of such Member in the Company, agree in writing (A) to continue the Company and (B) to the admission of the personal representative or its nominee or designee, as the case may be, as a substitute Member of the Company, effective as of the occurrence of the event that terminated the continued membership of the last remaining Member of the Company. 15.2. Notwithstanding any other provision of this Agreement, for so long as any Obligations remain outstanding, the Company will not, and the Members (their officers or directors) or any other person will not cause the Company to, voluntarily commence a case with respect to itself, as debtor, under the Federal Bankruptcy Code or any similar federal or state statute without the prior written consent of the Members.

Dissolution/Bankruptcy. Dissolution, termination of existence, insolvency (failure to pay its debts as they mature or the failure to maintain the fair saleable value of its assets in an amount greater than its liabilities, whichever shall first occur), a business failure, appointment of a receiver, assignment for the benefit of creditors or the commencement of any proceedings under any bankruptcy or insolvency law by or against Borrower or any guarantor or the making by either Borrower or any guarantor of any offer or settlement, exchange or composition to their respective unsecured creditors generally. For purposes of this Agreement, any guarantor shall mean any party required by this Agreement to guaranty Obligations and any party whose guaranty of Obligations is tendered to Lender to induce Lender to make this loan;

Dissolution/Bankruptcy. If either Member (i) is dissolved and wound up, or (ii) becomes Bankrupt, the affected Member shall notify the other Member in writing, or if the affected Member fails to provide such notice within five Business Days, the Company shall have the right to provide such notice to the other Member (and such notice shall be deemed an Offer Notice for purposes of Section 3.7(e)(i)) and the entire Membership Interest owned by the affected Member shall be deemed to be the subject of a proposed Transfer and, therefore, a Subject ROFR Interest offered to the other Member at a price equal to the Fair Market Value of such Membership Interest, and the affected Member shall be obligated to sell its Membership Interest in accordance with Section 3.7(e) and this Section 3.7(g). In the case of the application of this Section 3.7(g) to the Rangeland Member, Section 3.7(e) shall apply to the Rangeland Member in the same manner and to the same extent such Section would otherwise apply to the Delek Member.

Dissolution/Bankruptcy the Customer and the Security Party (if a natural person) has not committed any act of bankruptcy, no step has been taken by the Customer or any Security Party (if body corporate) or their respective shareholders nor have any legal proceedings been started or threatened for the dissolution of the Customer or any Security Party or for the appointment of a receiver, trustee nominee, supervisor, judicial manager or similar officer of the Customer or any Security Party, their assets or any of them, and no demand under Section 466(1)(a) of the Companies Act, 2016 and no enquiry under Section 511(1) of the Companies Act, 2016 has been received by the Customer or any Security Party;

Dissolution/Bankruptcy. The Company has not taken any action nor, to the best of its knowledge, have any other steps been taken or legal proceedings started against the Company for its winding-up or dissolution or for it to enter into any arrangement or composition for the benefit of creditors, nor, to the Company's knowledge, have any steps been taken for the appointment of a receiver, administrator, administrative receiver, trustee or similar officer of it or any of its properties or other assets.

Dissolution/Bankruptcy. This Agreement shall terminate automatically without notice to the Academy if a petition in Bankruptcy Court is filed by or against the Academy, shall have been voluntarily or involuntarily adjudicated bankrupt by any court of competent jurisdiction, or if a petition is filed for reorganization of the Academy, or if a receiver has been appointed for all or a substantial part of the Academy’s business.