INSOLVENCY ACT. 31.1 If this sale is before the second meeting of creditors then the Trustee in the insolvent estate warrants that he shall recommend the sale to the Master of the High Court in order for the Conveyancers to obtain the necessary consent by the Master in terms of section 80 bis of the Insolvency Act, Act 24 of 1936. This agreement will lapse and be of no effect if the Master of the relevant High Court do not consent to the sale within 30 days after the acceptance of the offer.
INSOLVENCY ACT to exercise all rights set out in Schedule 1 of the Insolvency Act as in force at the date of this Deed (whether or not in force at the date of exercise) and all other powers conferred by law, at the time of exercise, on Receivers;
INSOLVENCY ACT. No floating charge granted by any Chargor shall, either by notice given by the Security Agent under Subclause 3.5 (Conversion of Floating Charge by Notice) or automatically under Subclause 3.6 (Automatic Conversion of Floating Charge), be converted into a fixed charge over any Floating Charge Asset or otherwise crystallise solely as a result of:
INSOLVENCY ACT. The execution of this Agreement and the consummation of the transactions contemplated hereby (a) are not being undertaken with the intent of hindering, delaying or defrauding creditors; (b) will result in Seller receiving reasonably equivalent value or fair consideration for the Included Assets; (c) are not being undertaken at a time when Seller is insolvent; (d) will not render Seller insolvent; (e) will not result in Seller being engaged in a business for which its remaining assets constitute unreasonably small capital; and (f) will not result in Seller having debts beyond its ability to pay as they mature (as the foregoing terms are defined in or interpreted under the Insolvency Act [Chapter 6:04] or similar laws.)
INSOLVENCY ACT the United Kingdom Insolvency Xxx 0000, or any applicable bankruptcy, insolvency or other similar law now or hereafter in effect. Insolvency Proceeding: any case or proceeding commenced by or against a Person under any state, federal or foreign law for, or any agreement of such Person to, (a) the entry of an order for relief under the Bankruptcy Code, the Insolvency Act or any other insolvency, debtor relief or debt adjustment law; (b) the appointment of a receiver, trustee, liquidator, administrator, conservator or other custodian or similar officer for such Person or any part of its Property; or (c) a general assignment or trust mortgage for the benefit of creditors.
INSOLVENCY ACT to exercise all powers set out in Schedule 1, Schedule B1 or (in the case of a Scottish Receiver) Schedule 2 to the Insolvency Act as now in force (whether or not in force at the date of exercise and whether or not the Receiver is an administrative receiver) and any powers added to Schedule 1 or Schedule 2, as the case may be, after the date of this Deed; and
INSOLVENCY ACT to exercise all rights set out in Schedule 1 of the Insolvency Act as in force at the date of this Deed (whether or not in force at the date of exercise) and all other powers conferred by law, at the time of exercise, on Receivers; (c) Raise or borrow money: to raise or borrow money, either unsecured or on the security of any Secured Asset (either in priority to the Security or otherwise) for any purpose whatsoever, including, without limitation, for the purpose of exercising any of the Rights conferred upon the Receiver by or pursuant to this Deed or of defraying any costs, charges, Losses, liabilities or expenses (including his remuneration) incurred by or due to the Receiver in the exercise thereof, in each case and at all times, in accordance with its express power to raise or borrow money pursuant to Schedule 1 of the Insolvency Act; (d)
