Financial Instability; Material Changes Sample Clauses

Financial Instability; Material Changes. A Party: (i) files for bankruptcy, receivership, insolvency, reorganization, dissolution, liquidation or any similar proceeding; (ii) has a proceeding instituted against it and such proceeding is not dismissed within sixty (60) days; (iii) makes an assignment for the benefit of its creditors or an offer of settlement, extension or composition to its creditors generally; (iv) a trustee, conservator, receiver or similar fiduciary is appointed for that Party or substantially all of such Party’s assets; or (v) the occurrence of any material adverse change in the nature or conduct of any Party’s business as it exists on the Effective Date