Event of Insolvency. Neither Seller nor any of its Affiliates or Subsidiaries, shall take any corporate action in furtherance of, or any action which would result in any an Event of Insolvency.
Event of Insolvency. An Event of Insolvency shall have occurred with respect to a Seller Party or any Affiliate.
Event of Insolvency. Event of Insolvency" means (a) the filing of a voluntary petition by Consultant under the Federal Bankruptcy Code or any similar state or federal law; or (b) the filing of an involuntary petition against Consultant under the Federal Bankruptcy Code or any similar state or federal law which remains undismissed for a period of forty-five (45) days; or (c) Consultant's making of an assignment for the benefit of creditors; or (d) the appointment of a receiver for Consultant or for the property or assets of Consultant, if such appointment is not vacated within forty-five (45) days thereafter; or (e) any other proceeding under any bankruptcy or insolvency law or liquidation law, voluntary or otherwise.
Event of Insolvency. An Event of Insolvency shall have occurred with respect to the Borrower.
Event of Insolvency. Event of Insolvency" shall mean that, with respect to an entity, such entity shall (a) become insolvent, (b) make a general assignment for the benefit of creditors or to an agent authorized to liquidate any substantial amount of its assets, (c) become the subject of an "order for relief" within the meaning of the United States Bankruptcy Code, (d) file a petition in bankruptcy or for reorganization or to effect a plan or other arrangement with creditors, (e) file an answer to a creditor's petition, admitting the material allegations thereof, for involuntary bankruptcy or for reorganization or to effect a plan or other arrangement with creditors, (f) apply to a court for the appointment of a receiver or custodian for any of its assets or properties, with or without consent, and such receiver shall not be discharged within sixty (60) days after appointment, or (g) adopt a plan of complete liquidation of its assets.
Event of Insolvency. The Licensee commits an Event of Insolvency.
Event of Insolvency. 1.1 An Event of Insolvency occurs if, in relation to any person:
(a) that person is a company and:
(i) it enters into a voluntary arrangement under Part I of the 1986 Act or it enters into a scheme of arrangement with its creditors in satisfaction or composition of its debt;
(ii) it goes into administration under Part II of the 1986 Act;
(iii) a receiver or manager, including an administrative receiver, is appointed whether under Part III of the 1986 Act, under the 1925 Act or otherwise;
(iv) a resolution to wind-up is passed or a provisional liquidator is appointed or a winding- up order is made under Part IV of the 1986 Act unless for the purpose of a solvent amalgamation or reconstruction of the company;
(v) a scheme of arrangement is made under section 425 Companies Act 1985 (other than for the purposes of a solvent reorganisation); or
(vi) it is struck off the register of companies or otherwise ceases to exist;
(b) that person is an individual and:
(i) an interim order or voluntary arrangement is made under Part VIII of the 1986 Act in respect of that individual;
(ii) a trustee in bankruptcy is appointed or the individual is otherwise declared to be bankrupt;
(iii) the individual enters into a deed of arrangement or composition with his or her creditors;
(iv) a receiver is appointed under the Mental Health Xxx 0000 or the individual becomes incapable of managing his or her affairs; or
(v) the individual dies;
(c) that person is a member of a partnership and:
(i) the partnership enters into a voluntary arrangement under Part II of the 1994 Order;
(ii) an administration order is made under Part III of the 1994 Order in respect of the partnership; or
(iii) a winding up order is made under Parts IV or V of the 1994 Order in respect of the partnership; or
(iv) that person is incorporated or resident in a jurisdiction outside England and Wales and any event or circumstance occurs which under the laws of that jurisdiction has an analogous or equivalent effect to any of the events in this Schedule 6.
Event of Insolvency. Bankruptcy - The occurrence or threat of any one of the following events:
(i) Involuntary Insolvency - If a judgment, decree or order of a court of competent jurisdiction is entered against the Borrower, (i) adjudging it bankrupt or insolvent, or approving a petition seeking its reorganization or winding-up under the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada), or any other bankruptcy, insolvency or analogous Law in any applicable jurisdiction, or (ii) appointing a receiver, trustee, liquidator, or other person with like powers, over the Borrower, any portion of the Pipeline, or all, or substantially all, of the Property of the Borrower, unless such appointment is stayed or dismissed within 30 days, or (iii) ordering the involuntary winding up or liquidation of the affairs of such party;
Event of Insolvency. An Event of Insolvency shall have occurred with respect to any Seller or any of its Subsidiaries.
