Common use of Effects of Insolvency Clause in Contracts

Effects of Insolvency. Upon receipt prior to a Change of Control of any written allegation of the Insolvency of the Company or any Subsidiary which has an interest in the Trust, the Trustee shall suspend the making of any distribution from the Trust and shall immediately notify the Company and any affected Subsidiary in writing of such allegation. Within 30 days of receipt of such an allegation, the Trustee shall determine whether the Company or the relevant Subsidiary is Insolvent. If the Trustee determines the Company or the relevant Subsidiary to be Insolvent, or if the Trustee otherwise has actual knowledge that the Company or the relevant Subsidiary is Insolvent, the Trustee shall cease making distributions hereunder and shall hold the portion of the Trust held for the benefit of such entity for the benefit of its Creditors until otherwise instructed by a court of competent jurisdiction. If the Trustee determines that the Company or the relevant Subsidiary is not Insolvent, the Trustee shall resume making appropriate distributions from the Trust to Participants and Beneficiaries in accordance with this Agreement. Notwithstanding the foregoing, if the Board, the Chief Executive Officer or the Chief Financial Officer of the Company or the relevant Subsidiary delivers to the Trustee a sworn statement that the Company or such Subsidiary is Insolvent, the Trustee shall make distributions from the portion of the Trust held for the benefit of such entity only as directed by a court of competent jurisdiction, until such time as the Trustee determines that the Company or the relevant Subsidiary, as the case may be, is not Insolvent.

Effects of Insolvency. Upon receipt prior to a Change of Control of any written allegation of the Insolvency of the Company or any Subsidiary which has an interest in the Trust, the Trustee shall suspend the making of any distribution from the Trust and shall immediately notify the Company and any affected Subsidiary in writing of such allegation. Within 30 days of receipt of such an allegation, the Trustee shall determine whether the Company or the relevant Subsidiary is Insolvent. If the Trustee determines the Company or the relevant Subsidiary to be Insolvent, or if the Trustee otherwise has actual knowledge that the Company or the relevant Subsidiary is Insolvent, the Trustee shall cease making distributions hereunder and shall hold the portion of the Trust held for the benefit of such entity for the benefit of its Creditors until otherwise instructed by a court of competent jurisdiction. If the Trustee determines that the Company or the relevant Subsidiary is not Insolvent, the Trustee shall resume making appropriate distributions from the Trust to Participants and Beneficiaries in accordance with this Agreement. Notwithstanding the foregoing, if prior to a Change of Control the Board, the Chief Executive Officer or the Chief Financial Officer of the Company or the relevant Subsidiary delivers to the Trustee a sworn statement that the Company or such Subsidiary is Insolvent, the Trustee shall make distributions from the portion of the Trust held for the benefit of such entity only as directed by a court of competent jurisdiction, until such time as the Trustee determines that the Company or the relevant Subsidiary, as the case may be, is not Insolvent.

Effects of Insolvency. Upon receipt prior to a Change of Control of any written allegation of the Insolvency of ASCI, the Company or any Subsidiary which has an interest in the Trust, the Trustee shall suspend the making of any distribution from the Trust and shall immediately notify ASCI, the Company and any affected Subsidiary in writing of such allegation. Within 30 days of receipt of such an allegation, the Trustee shall determine whether ASCI, the Company or the relevant Subsidiary is Insolvent. If the Trustee determines ASCI, the Company or the relevant Subsidiary to be Insolvent, or if the Trustee otherwise has actual knowledge that ASCI, the Company or the relevant Subsidiary is Insolvent, the Trustee shall cease making distributions hereunder and shall hold the portion of the Trust held for the benefit of such entity for the benefit of its Creditors until otherwise instructed by a court of competent jurisdiction. If the Trustee determines that ASCI, the Company or the relevant Subsidiary is not Insolvent, the Trustee shall resume making appropriate distributions from the Trust to Participants and Beneficiaries in accordance with this Agreement. Notwithstanding the foregoing, if the ASCI Board, the ASI Board, the Chief Executive Officer or the Chief Financial Officer of ASCI, the Company or the relevant Subsidiary delivers to the Trustee a sworn statement that ASCI, the Company or such Subsidiary is Insolvent, the Trustee shall make distributions from the portion of the Trust held for the benefit of such entity only as directed by a court of competent jurisdiction, until such time as the Trustee determines that ASCI, the Company or the relevant Subsidiary, as the case may be, is not Insolvent.