Common use of Financial Difficulties Clause in Contracts

Financial Difficulties. If the Borrower shall be involved in financial difficulties as evidenced. (a) by its admission in writing of its inability to pay its debts generally as they become due or of its ceasing to be Solvent; (b) by its filing a petition in bankruptcy or for reorganization or for the adoption of an arrangement under the U.S. Bankruptcy Code (as now or in the future amended) or any similar law regarding debtors' rights and remedies or an admission seeking the relief therein provided; (c) by its making a general assignment for the benefit of its creditors; (d) by its consenting to the appointment of a receiver for all or a substantial part of its property; (e) by its being adjudicated a bankrupt; (f) by the entry of a court order appointing a receiver or trustee for all or a substantial part of its property without its consent, which order shall not be vacated, set aside or stayed within ninety (90) days from the date of entry; or (g) by the assumption of custody or sequestration by a court of competent jurisdiction of all or substantially all of its property, which custody or sequestration shall not be suspended or terminated within 60 days from its inception; or

Financial Difficulties. If the Borrower shall be involved in ---------------------- financial difficulties as evidenced.evidenced - (a) by its admission in writing of its inability to pay its debts generally as they become due or of its ceasing to be Solvent; (b) by its filing a petition in bankruptcy or for reorganization or for the adoption of an arrangement under the U.S. Bankruptcy Code (as now or in the future amended) or any similar law regarding debtors' debtors rights and remedies or an admission seeking the relief therein provided; (c) by its making a general assignment for the benefit of its creditors; (d) by its consenting to the appointment of a receiver for all or a substantial part of its property; (e) by its being adjudicated a bankrupt; (f) by the entry of a court order appointing a receiver or trustee for all or a substantial part of its property without its consent, which order shall not be vacated, set aside or stayed within ninety (90) days from the date of entry; or (g) by the assumption of custody or sequestration by a court of competent jurisdiction of all or substantially all of its property, which custody or sequestration shall not be suspended or terminated within 60 days from its inception; or

Financial Difficulties. If the Borrower shall be involved in financial difficulties as evidenced.: (ai) by its admission in writing of its inability to pay its debts generally as they become due or of its ceasing to be Solvent; (bii) by its filing a petition in bankruptcy or for reorganization or for the adoption of an arrangement under the U.S. Bankruptcy Code (as now or in the future amended) or any similar law regarding debtors' debtors rights and remedies or an admission seeking the relief therein provided; (ciii) by its making a general assignment for the benefit of its creditors; (div) by its consenting to the appointment of a receiver for all or a substantial part of its property; (ev) by its being adjudicated a bankrupt; (fvi) by the entry of a court order appointing a receiver or trustee for all or a substantial part of its property without its consent, which order shall not be vacated, set aside or stayed within ninety (90) days from the date of entry; or (gvii) by the assumption of custody or sequestration by a court of competent jurisdiction of all or substantially all of its property, which custody or sequestration shall not be suspended or terminated within 60 days from its inception; or

Financial Difficulties. If the Borrower any Obligor shall be involved in financial difficulties as evidenced.; or (a) by its admission in writing of its inability to pay its debts generally as they become due or of its ceasing to be Solvent;; or (b) by its filing a petition in bankruptcy Bankruptcy or for reorganization or for the adoption of an arrangement under the U.S. Bankruptcy Code (as now or in the future amended) or any similar law regarding debtors' debtors rights and remedies or an admission seeking the relief therein provided;; or (c) by its making a general assignment for the benefit of its creditors;; or (d) by its consenting to the appointment of a receiver for all or a substantial part of its property;; or (e) by its being adjudicated a bankrupt;; or (f) by the entry of a court order appointing a receiver or trustee for all or a substantial part of its property without its consent, which order shall not be vacated, set aside or stayed within ninety (90) days from the date of entry; or (g) by the assumption of custody or sequestration by a court of competent jurisdiction of all or substantially all of its property, which custody or sequestration shall not be suspended or terminated within 60 sixty (60) days from its inception; or.

Financial Difficulties. If the any Borrower shall be involved in financial difficulties as evidenced.evidenced- (a) by its admission in writing of its inability to pay its debts generally as they become due or of its ceasing to be Solvent; (b) by its filing a petition in bankruptcy or for reorganization or for the adoption of an arrangement under the U.S. Bankruptcy Code (as now or in the future amended) or any similar law regarding debtors' debtors rights and remedies or an admission seeking the relief therein provided; (c) by its making a general assignment for the benefit of its creditors; (d) by its consenting to the appointment of a receiver for all or a substantial part of its property; (e) by its being adjudicated a bankrupt; (f) by the entry of a court order appointing a receiver or trustee for all or a substantial part of its property without its consent, which order shall not be vacated, set aside or stayed within ninety (90) days from the date of entry; or (g) by the assumption of custody or sequestration by a court of competent jurisdiction of all or substantially all of its property, which custody or sequestration shall not be suspended or terminated within 60 days from its inception; or

Financial Difficulties. If the Borrower shall be involved in financial difficulties as evidenced.evidenced - (a) by its admission in writing of its inability to pay its debts generally as they become due or of its ceasing to be Solvent; (b) by its filing a petition in bankruptcy or for reorganization or for the adoption of an arrangement under the U.S. Bankruptcy Code (as now or in the future amended) or any similar law regarding debtors' debtors rights and remedies or an admission seeking the relief therein provided; (c) by its making a general assignment for the benefit of its creditors; (d) by its consenting to the appointment of a receiver for all or a substantial part of its property; (e) by its being adjudicated a bankrupt; (f) by the entry of a court order appointing a receiver or trustee for all or a substantial part of its property without its consent, which order shall not be vacated, set aside or stayed within ninety (90) days from the date of entry; or (g) by the assumption of custody or sequestration by a court of competent jurisdiction of all or substantially all of its property, which custody or sequestration shall not be suspended or terminated within 60 sixty (60) days from its inception; or

Financial Difficulties. If any of the Borrower Obligors shall be involved in financial difficulties as evidenced.evidenced by the following: (aA) by its admission in writing of its inability to pay its debts generally as they become due or of its ceasing to be Solvent; (bB) by its filing a petition in bankruptcy or for reorganization or for the adoption of an arrangement under the U.S. Bankruptcy Code (as now or in the future amended) or any similar law regarding debtors' debtors rights and remedies or an admission seeking the relief therein provided; (cC) by its making a general assignment for the benefit of its creditors; (dD) by its consenting to the appointment of a receiver for all or a substantial part of its property; (eE) by its being adjudicated a bankrupt; (fF) by the entry of a court order appointing a receiver or trustee for all or a substantial part of its property without its consent, which order shall not be vacated, set aside or stayed within ninety (90) days from the date of entry; or (gG) by the assumption of custody or sequestration by a court of competent jurisdiction of all or substantially all of its property, which custody or sequestration shall not be suspended or terminated within 60 ninety (90) days from its inception; or