Common use of Dissolution or Bankruptcy Clause in Contracts

Dissolution or Bankruptcy. Dissolution or termination of existence of any Borrower, liquidation, insolvency, business failure, appointment of receiver of any part of the property of, assignment for the benefit of creditors by, or the commencement of any proceeding under state or federal bankruptcy laws or other insolvency laws by any Borrower or the commencement of an involuntary proceeding against any Borrower under state or federal bankruptcy laws which is not dismissed within ninety (90) days after such commencement, or a merger or consolidation or sale of any Borrower’s assets other than as permitted hereunder.

Dissolution or Bankruptcy. Dissolution or termination or liquidation of existence of any Borrower, liquidation, either Obligor or insolvency, business failure, appointment of a receiver of any part of the property of, assignment for the benefit of creditors by, or the commencement of any proceeding under state or federal bankruptcy laws or other insolvency laws by any Borrower either Obligor or the commencement of an involuntary proceeding against any Borrower either Obligor under state or federal bankruptcy laws which is not dismissed within ninety thirty (9030) days after such commencement, or a merger or consolidation or sale of any Borrowereither Obligor’s assets other than as permitted hereunder.

Dissolution or Bankruptcy. Dissolution or termination or liquidation of existence of any Borrower, liquidation, Borrower or insolvency, business failure, appointment of a receiver of any part of the property of, assignment for the benefit of creditors by, or the commencement of any proceeding under state or federal bankruptcy laws or other insolvency laws by any Borrower or the commencement of an involuntary proceeding against any Borrower under state or federal bankruptcy laws which is not dismissed within ninety thirty (9030) days after such commencement, or a merger or consolidation or sale of any Borrower’s assets other than as permitted hereunder.