Insolvency and Related Proceedings. Any Loan Party 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 a Loan Party under the Bankruptcy Code (and if, with respect to any petition filed against any Loan Party, such proceeding shall continue for more than thirty (30) days), or any Loan Party shall make any offer of settlement, extension or compromise to such Loan Party's unsecured creditors generally.
Appears in 6 contracts
Samples: Loan and Security Agreement (Bayard Drilling Technologies Inc), Loan and Security Agreement (Black Warrior Wireline Corp), Loan and Security Agreement (Black Warrior Wireline Corp)
Insolvency and Related Proceedings. Any Loan Party shall cease to be Solvent Solvent; or United or any Loan Party 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 a any Loan Party or United under the Bankruptcy Code (and ifif against a Loan Party or United, with respect to any petition filed against any Loan Party, the continuation of such proceeding shall continue for more than thirty (30) 60 days), ; or any Loan Party shall make any offer of settlement, extension or compromise composition to such Loan Party's their respective unsecured creditors generally.
Appears in 2 contracts
Samples: Loan Agreement (Atlantic Coast Airlines Inc), Loan and Security Agreement (Atlantic Coast Airlines Holdings Inc)
Insolvency and Related Proceedings. Any Loan Party 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 a any Loan Party under the Bankruptcy Code (and if, with respect to any petition filed if against any a Loan Party, the continuation of such proceeding shall continue for more than thirty (30) 30 days), or any Loan Party shall make any offer of settlement, extension or compromise composition to such Loan Party's unsecured creditors generally.
Appears in 2 contracts
Samples: Loan and Security Agreement (Advanced Technical Products Inc), Loan and Security Agreement (Advanced Technical Products Inc)
Insolvency and Related Proceedings. Any Loan Party 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 a any Loan Party under the Bankruptcy Code (and ifif against Borrower, with respect to any petition filed against any Loan Party, the continuation of such proceeding shall continue for more than thirty (30) 45 days), or any Loan Party shall make any offer of settlement, extension or compromise composition to such Loan Party's its unsecured creditors generally.
Appears in 1 contract
Insolvency and Related Proceedings. Any Loan Party 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 a any Loan Party under the Bankruptcy Code (and if, with respect to any petition filed against any Loan Party, such proceeding shall continue for more than thirty (30) days), or any Loan Party shall make any offer of settlement, extension or compromise composition to such Loan Party's its unsecured creditors generally.
Appears in 1 contract
Samples: Guaranty Facility and Security Agreement (Aperian Inc)
Insolvency and Related Proceedings. Any Loan Party 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 a Loan Party under the Bankruptcy Code (and if, with respect to any petition filed against any Loan Party, such proceeding shall continue for more than thirty (30) days), or any Loan Party shall make any offer of settlement, extension or compromise to such Loan Party's unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Avalon Community Services Inc)
Insolvency and Related Proceedings. Any Loan Party 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 a any Loan Party under the Bankruptcy Code (and if, with respect to any petition filed against any Loan Party, such proceeding shall continue for more than thirty (30) 30 days), or any Loan Party shall make any offer of settlement, extension or compromise composition to such Loan Party's its unsecured creditors generally.
Appears in 1 contract
Insolvency and Related Proceedings. Any Loan Party ------------------------------------- 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 Insolvency Proceeding shall be filed commenced by or against a any Loan Party under the Bankruptcy Code (and if, with respect to any petition filed if against any an Loan Party, the continuation of such proceeding shall continue for more than thirty (30) 30 days), or any Loan Party shall make any offer of settlement, extension or compromise composition to such Loan Party's unsecured creditors generally.
Appears in 1 contract
Samples: Loan and Security Agreement (Litchfield Financial Corp /Ma)
