Insolvency and Related Proceedings. Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Bankruptcy Code (if against Borrower, the continuation of such proceeding for more than 60 days), or Borrower shall make any offer of settlement, extension or composition to its unsecured creditors generally.
Appears in 3 contracts
Samples: Loan and Security Agreement (Houston Wire & Cable CO), Loan and Security Agreement (Houston Wire & Cable CO), Loan and Security Agreement (Morgan Products LTD)
Insolvency and Related Proceedings. Borrower or Parent shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower or Parent under the Bankruptcy Code (if against BorrowerBorrower or Parent, the continuation of such proceeding for more than 60 sixty (60) days), or Borrower or Parent shall make any offer of settlement, extension or composition to its their respective unsecured creditors generally.
Appears in 2 contracts
Samples: Loan and Security Agreement (Home Products International Inc), Loan and Security Agreement (Home Products International Inc)
Insolvency and Related Proceedings. Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Bankruptcy Code (if against Borrower, the continuation of such proceeding for more than 60 30 days), or Borrower shall make any offer of settlement, extension or composition to its unsecured creditors generally.
Appears in 2 contracts
Samples: Loan and Security Agreement (Electronics Boutique Holdings Corp), Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)
Insolvency and Related Proceedings. Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian custodian, or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Bankruptcy Code (if against Borrower, the continuation of such proceeding for more than 60 sixty (60) days), or Borrower shall make any offer of settlement, extension extension, or composition to its unsecured creditors generally.
Appears in 2 contracts
Samples: Loan and Security Agreement (Meade Instruments Corp), Loan and Security Agreement (Meade Instruments Corp)
Insolvency and Related Proceedings. Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Bankruptcy Code (if against BorrowerBorrower or any Subsidiary, the continuation of such proceeding for more than 60 30 days), or Borrower or any Subsidiary shall make any offer of settlement, extension or composition to its unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)
Insolvency and Related Proceedings. Either Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against either Borrower under the Bankruptcy Code (if against a Borrower, the continuation of such proceeding for more than 60 45 days), or a Borrower shall make any offer of settlement, extension or composition to its unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Open Plan Systems Inc)
Insolvency and Related Proceedings. Any Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against any Borrower under the Bankruptcy Code (if against any Borrower, the continuation of such proceeding for more than 60 days), or any Borrower shall make any offer of settlement, extension or composition to its their respective unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (D & K Healthcare Resources Inc)
Insolvency and Related Proceedings. On or after the Closing Date, Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian custodian, or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Bankruptcy Code (if against Borrower, the continuation of such proceeding for more than 60 30 days), or Borrower shall make any offer of settlement, extension extension, or composition to its unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Peregrine Real Estate Trust)
Insolvency and Related Proceedings. Any Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against any Borrower under the Bankruptcy Code (if against any Borrower, the continuation of such proceeding for more than 60 30 days), or any Borrower shall make any offer of settlement, extension or composition to its their respective unsecured creditors generally.
Appears in 1 contract
Insolvency and Related Proceedings. Any Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian custodian, or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against any Borrower or under the Bankruptcy Code (if against any Borrower, the continuation of such proceeding for more than 60 45 days), or any Borrower shall make any offer of settlement, extension extension, or composition to its their respective unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Questron Technology Inc)
Insolvency and Related Proceedings. Any Borrower or Company shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against any Borrower or Company under the Bankruptcy Code (if against Borrowerany Borrower or Company, the continuation of such proceeding for more than 60 30 days), or any Borrower or Company shall make any offer of settlement, extension or composition to its their respective unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)
Insolvency and Related Proceedings. Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Bankruptcy Code (if against Borrower, the continuation of such proceeding for more than 60 thirty (30) days), or Borrower shall make any offer of settlement, extension or composition to its their respective unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Allied Healthcare Products Inc)
Insolvency and Related Proceedings. Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Bankruptcy Code (if against Borrower, the continuation of such proceeding for more than 60 sixty (60) days), or Borrower shall make any offer of settlement, extension or composition to its their respective unsecured creditors generally.
Appears in 1 contract
Samples: Equipment Loan Note (Pure World Inc)
Insolvency and Related Proceedings. Borrower shall cease to ----------------------------------- be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Bankruptcy Code (if against Borrower, the continuation of such proceeding for more than 60 45 days), or Borrower shall make any offer of settlement, extension or composition to its unsecured creditors generally.
Appears in 1 contract
Insolvency and Related Proceedings. Any Borrower shall cease to be Solvent (as defined in clause (ii) of the definition thereof) or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciaryfiduciary for all or any material part of its assets or Property, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against any Borrower under the Bankruptcy Code (if against Borrower, the continuation of such proceeding for more than and shall not be discharged within 60 days), or Borrower shall make any offer of settlement, extension or composition to its unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (United Industrial Corp /De/)
Insolvency and Related Proceedings. Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Federal Bankruptcy Code (if against Borrower, the continuation of such proceeding for more than 60 sixty (60) days), or Borrower shall make any offer of settlement, extension or composition to its unsecured creditors generally.
Appears in 1 contract
Samples: Loan Agreement (Fresh Foods Inc)
Insolvency and Related Proceedings. Any Borrower shall ---------------------------------- cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against any Borrower under the Bankruptcy Code (if against any Borrower, the continuation of such proceeding for more than 60 days), or any Borrower shall make any offer of settlement, extension or composition to its their respective unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (D & K Healthcare Resources Inc)
Insolvency and Related Proceedings. Any Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against any Borrower under the Bankruptcy Code (if against any Borrower, the continuation of such proceeding for more than 60 sixty (60) days), or any Borrower shall make any offer of settlement, extension or composition to its their respective unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Measurement Specialties Inc)
Insolvency and Related Proceedings. Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Bankruptcy Code (if against a Borrower, the continuation of such proceeding proceeding, unstayed, for more than 60 days), or Borrower shall make any offer of settlement, extension or composition to its unsecured creditors generally.
Appears in 1 contract
Samples: Loan Agreement (Syms Corp)
Insolvency and Related Proceedings. Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against Borrower under the Bankruptcy Code (if against Borrower, the continuation of such proceeding for more than 60 10 days), or Borrower shall make any offer of settlement, extension or composition to its unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Northwestern Steel & Wire Co)
Insolvency and Related Proceedings. Any Borrower shall cease to be Solvent or shall suffer the appointment of a receiver, trustee, custodian or similar fiduciary, or shall make an assignment for the benefit of creditors, or any petition for an order for relief shall be filed by or against such Borrower under the Bankruptcy Code (if against such Borrower, the continuation of such proceeding for more than 60 days), or any Borrower shall make any offer of settlement, extension or composition to its unsecured creditors generally.
Appears in 1 contract
