Common use of If Pledgor Clause in Contracts

If Pledgor. (i) dies; or (ii) makes an assignment for the benefit of, or enters into any composition or arrangement with, creditors; or (iii) generally does not pay his debts as such debts become due; or (iv) conceals, removes, or permits to be concealed or removed, any part of his property, with intent to hinder, delay or defraud his creditors or any of them, or makes or suffers a transfer of any of his property which may be fraudulent under any bankruptcy, fraudulent conveyance or similar law, or makes any transfer of his property to or for the benefit of a creditor at a time when other creditors similarly situated have not been paid; or