Common use of Insolvency and Related Proceedings Clause in Contracts

Insolvency and Related Proceedings. Borrower or any Subsidiary of 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 or any Subsidiary of Borrower under U.S. federal bankruptcy laws (if against Borrower or any Subsidiary of Borrower the continuation of such proceeding for more than 30 days), or Borrower or any Subsidiary of Borrower shall make any offer of settlement, extension or composition to their respective unsecured creditors generally.

Insolvency and Related Proceedings. Borrower Borrower, any Guarantor or ---------------------------------- any Material Subsidiary of 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 Borrower, any Guarantor or any Material Subsidiary of Borrower under U.S. the federal bankruptcy laws (if against Borrower the Borrower, any Guarantor or any Subsidiary of Borrower Material Subsidiary, the continuation of such proceeding for more than 30 60 days), or Borrower Borrower, any Guarantor or any Material Subsidiary of Borrower shall make any offer of settlement, extension or composition to their respective unsecured creditors generally.

Insolvency and Related Proceedings. Any Borrower or any Subsidiary of 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 or any Subsidiary of any Borrower under U.S. federal bankruptcy laws (if against any Borrower or any Subsidiary of any Borrower the continuation of such proceeding for more than 30 days), or any Borrower or any Subsidiary of any Borrower shall make any offer of settlement, extension or composition to their respective unsecured creditors generally.