Common use of In liquidation Clause in Contracts

In liquidation. a. If FCIC has expended funds to keep the Company operational, including the payment of expenses already included in the A&O subsidy, or to pay other expenses not included in the A&O subsidy, when the Company was in supervision, rehabilitation, liquidation, or any equivalent situation, with respect to the repayment of such funds, FCIC shall have priority over all other creditors except for expenses of the state supervisor, rehabilitator, liquidator or equivalent person; and

In liquidation. a. If FCIC has expended funds to keep the Company operational, including the payment of expenses already included in the A&O subsidy, or to pay other expenses not included in the A&O subsidy, when the Company was in supervision, rehabilitation, rehabilitation or liquidation, or any equivalent situation, with respect to the repayment of such funds, FCIC shall have priority over all other creditors except for expenses of the state supervisor, rehabilitator, liquidator or equivalent personliquidator; and