Common use of Insolvency and Bankruptcy Clause in Contracts

Insolvency and Bankruptcy. The Grantor ceases to carry on its enterprise or an important part thereof, becomes insolvent or becomes subject to proceedings, makes an assignment or files a notice to file a proposal under any law relating to insolvency, bankruptcy, reorganization or to arrangements with creditors or any petition in bankruptcy is taken against the Grantor.

Appears in 4 contracts

Samples: Deed of Hypothec (SLM International Inc /De), Deed of Hypothec (SLM International Inc /De), Deed of Hypothec (SLM International Inc /De)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!