Insolvency and Rescheduling. A Borrower is unable to pay its debts as they fall due, commences negotiations with any one or more of its creditors with a view to the general readjustment or rescheduling of its indebtedness or makes a general assignment for the benefit of or a composition with its creditors.
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Samples: Multi Currency Credit Facility Agreement (Hungarian Telephone & Cable Corp)
Insolvency and Rescheduling. A The Borrower is unable to pay its debts as they fall due or admits inability to pay its debts as they fall due, commences negotiations with any one or more of its creditors with a view to the general readjustment or rescheduling of its indebtedness Indebtedness or makes a general assignment for the benefit of or a composition with its creditors.
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Insolvency and Rescheduling. A Borrower Any of the Borrower, the Parent or any Material Subsidiary is unable to pay its debts as they fall due, commences negotiations with any one or more of its creditors with a view to the general readjustment or rescheduling of its indebtedness or makes a general assignment for the benefit of or a composition with its creditors.
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Insolvency and Rescheduling. A The Borrower is unable to pay its debts as they fall due, commences negotiations with any one or more of its creditors with a view to the general readjustment or rescheduling of its indebtedness or makes a general assignment for the benefit of or a composition with its creditors.
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