Common use of Insolvency Call Option Clause in Contracts

Insolvency Call Option. In the event any Shareholder is subject to an Insolvency Event (“Insolvent Party”), then the other Shareholder (“Non-Insolvent Party”) shall have the right, but not the obligation, at its sole discretion, to purchase the entire equity interest held by the Insolvent Party in the Company’s corporate capital and to require the Insolvent Party to sell all, but not less than all, of the Shares then held by the Insolvent Party, who shall be obliged to sell such interests as provided hereto (the “Insolvency Call Option”).

Insolvency Call Option. In the event any Shareholder is subject to an Insolvency Event (“Insolvent Party”), then the other Shareholder (“Non-Insolvent Party”) shall have the right, but not the obligation, at its sole discretion, to purchase all, but not less than all, of the entire equity interest Shares held by the Insolvent Party in the Company’s corporate capital and to require the Insolvent Party to sell all, but not less than all, of the Shares then held by the Insolvent Party, who shall be obliged to sell such interests interest at the corresponding [*], as provided hereto (the “Insolvency Call Option”).