Common use of Insolvency; Assignments Clause in Contracts

Insolvency; Assignments. If the Licensee becomes insolvent or is adjudicated a bankrupt; or any action is taken by the Licensee, or by others against the Licensee under any insolvency, bankruptcy or reorganization act, or if the Licensee makes an assignment for the benefit of creditors, or a receiver is appointed by the Licensee;

Insolvency; Assignments. If the Licensee becomes insolvent or is adjudicated a bankrupt; or any action is taken by the Licensee, or by others against the Licensee under any insolvency, bankruptcy or reorganization act, (this provision may not be enforceable under federal bankruptcy law, or if the Licensee makes an assignment for the benefit of creditors, or a receiver is appointed by the Licensee;