Common use of Insolvency Event Clause in Contracts

Insolvency Event. the Purchaser is or becomes subject to one or more of the following events: (a) it suspends or threatens to suspend payment of its debts or becomes unable to pay its debts when they are due; (b) its financial position deteriorates to such an extent that, in Xxxxxxx’x opinion, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to court, or an order is made, for the appointment of an administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser or a receiver is appointed over the assets of the Purchaser; (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Days; (i) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik (including the Security Interest) in relation to the Purchaser is revoked or becomes unenforceable.

Insolvency Event. the Purchaser An Insolvency Event occurs if: (a) for any person that is or becomes subject to a body corporate, any one or more of the following events: events occurs in relation to it: (ai) except for the purpose of a solvent reconstruction or amalgamation which has our prior written consent: a. process is filed in a court seeking an order that it suspends be wound up or threatens that a Controller be appointed to suspend payment it or any of its debts assets, unless the application is withdrawn, struck out or becomes unable dismissed within 7 days of it being filed, b. an order is made that it be wound up or that a Controller be appointed to pay it or any of its debts when they are due; assets, or c. a resolution that it be wound up is passed or proposed, (bii) its financial position deteriorates to such an extent thata liquidator, in Xxxxxxx’x opinionprovisional liquidator, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with Controller or any similar official is appointed to, or takes possession or control of, all or any of its assets or undertaking, (iii) an administrator is appointed to it, a resolution that an administrator be appointed to it is passed or proposed, or any other steps are taken to appoint an administrator to it, (iv) it enters into, or resolves to enter into, an arrangement, compromise or composition with any of, or any class of, its creditors or members, or an assignment for the benefit of any of, or any class of, its creditors, or process is filed in a court seeking approval of any such arrangement, compromise or composition, (v) a reorganisation, moratorium, deed of company arrangement or other administration involving one or more of its creditors is proposed or effected, (vi) any action is taken by the Australian Securities and Investments Commission with a view to rescheduling any of its debtsderegistration or its dissolution, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to court, or an order the Australian Securities and Investments Commission that any such action be taken, (vii) it is made, for insolvent within the appointment meaning of an administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets section 95A of the Purchaser Corporations Act, as disclosed in its accounts or a receiver is appointed over the assets of the Purchaser; otherwise, (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Days; (iviii) it informs is unable to pay any person that it is, of its debts as they are due or is presumed to be, insolvent; be insolvent under any applicable law, (jix) it ceases stops or suspends or threatens to cease to carry on stop or suspend: a. the payment of all or a class of its debts, or b. the conduct of all or a substantial part of its business; or , (kx) any guarantee event or security given to Sandvik circumstance set out in section 461 (including General grounds on which company may be wound up by the Security InterestCourt) of the Corporations Act occurs in relation to it, (xi) as a result of the Purchaser operation of section 459F(1) (When company taken to fail to comply with statutory demand) of the Corporations Act, it is revoked taken to have failed to comply with a statutory demand, or (xii) anything having a substantially similar effect to any of the events specified above happens to it under the law of any jurisdiction, or (b) for any person who is an individual, any 1 or becomes unenforceable.more of the following events occur in relation to that person:

Insolvency Event. the Purchaser is or becomes subject to one or more of the following events: (a) it suspends or threatens to suspend payment of its debts or becomes unable to pay its debts when they are due; (b) its financial position deteriorates to such an extent that, in Xxxxxxx’x opinion, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the PurchaserPurchaser or business rescue; (e) an application is made to court, or an order is made, for the appointment of an administrator, business rescue practitioner or liquidator of any kind, or if a notice of intention to appoint an administrator administrator, business rescue practitioner or liquidator of any kind is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser or a receiver is appointed over the assets of the Purchaser; (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Days; (i) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik Xxxxxxx (including the Security Interest) in relation to the Purchaser is revoked or becomes unenforceable.

Insolvency Event. the Purchaser is or becomes subject to one or more of the following events: (a) it suspends or threatens to suspend payment of its debts or becomes unable to pay its debts when they are due; (b) its financial position deteriorates to such an extent that, in Xxxxxxx’x opinion, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to court, or an order is made, for the appointment of an administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser or a receiver is appointed over the assets of the Purchaser; (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Days; (i) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik (including the Security Interest) in relation to the Purchaser is revoked or becomes unenforceable.fourteen

Insolvency Event. the Purchaser An Insolvency Event occurs if: (a) for any person that is or becomes subject to a body corporate, any one or more of the following events: events occurs in relation to it: (ai) except for the purpose of a solvent reconstruction or amalgamation which has our prior written consent: a. process is filed in a court seeking an order that it suspends be wound up or threatens that a Controller be appointed to suspend payment it or any of its debts assets, unless the application is withdrawn, struck out or becomes unable dismissed within 7 days of it being filed, b. an order is made that it be wound up or that a Controller be appointed to pay it or any of its debts when they are due; assets, or c. a resolution that it be wound up is passed or proposed, (bii) its financial position deteriorates to such an extent thata liquidator, in Xxxxxxx’x opinionprovisional liquidator, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with Controller or any similar official is appointed to, or takes possession or control of, all or any of its assets or undertaking, (iii) an administrator is appointed to it, a resolution that an administrator be appointed to it is passed or proposed, or any other steps are taken to appoint an administrator to it, (iv) it enters into, or resolves to enter into, an arrangement, compromise or composition with any of, or any class of, its creditors or members, or an assignment for the benefit of any of, or any class of, its creditors, or process is filed in a court seeking approval of any such arrangement, compromise or composition, (v) a reorganisation, moratorium, deed of company arrangement or other administration involving one or more of its creditors is proposed or effected, (vi) any action is taken by the Australian Securities and Investments Commission with a view to rescheduling any of its debtsderegistration or its dissolution, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to courtthe Australian Securities and Investments Commission that any such action be taken, (vii) it is insolvent within the meaning of section 95A of the Corporations Act, as disclosed in its accounts or otherwise, (viii) it is unable to pay any of its debts as they are due or is presumed to be insolvent under any applicable law, (ix) it stops or suspends or threatens to stop or suspend: a. the payment of all or a class of its debts, or b. the conduct of all or a substantial part of its business, (x) any event or circumstance set out in section 461 (General grounds on which company may be wound up by the Court) of the Corporations Act occurs in relation to it, (xi) as a result of the operation of section 459F(1) (When company taken to fail to comply with statutory demand) of the Corporations Act, it is taken to have failed to comply with a statutory demand, or (xii) anything having a substantially similar effect to any of the events specified above happens to it under the law of any jurisdiction, or (b) for any person who is an individual, any 1 or more of the following events occur in relation to that person: (xiii) the person has a bankruptcy notice issued against the person, (xiv) a receiver or a trustee for creditors or in bankruptcy is appointed to any of the person's property, (xv) a garnishee notice is given concerning any money that the person is said to be owed, (xvi) the person proposes or enters into an arrangement or composition with, or an order is made, assignment for the appointment benefit of, any of an administratorthe person's creditors, (xvii) the person proposes or effects a moratorium involving any of the person's creditors, (xviii) the person stops or suspends, or if a notice threatens to stop or suspend: a. the payment of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser all or a receiver is appointed over class of its debts, or b. the assets conduct of the Purchaser; (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, all or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any substantial part of the Purchaser’s assets and such attachment person's business, (xix) the person is unable to pay any of the person's debts as they fall due or process is not discharged within fourteen (14) Days; (i) it informs any person that it is, presumed to bebe insolvent under any applicable law, insolvent; or (jxx) it ceases or threatens anything having a substantially similar effect to cease to carry on business; or (k) any guarantee or security given to Sandvik (including of the Security Interest) events specified in relation paragraphs above happens to the Purchaser is revoked or becomes unenforceableperson under the law of any jurisdiction.

Insolvency Event. the Purchaser An Insolvency Event occurs if: (a) for any person that is or becomes subject to a body corporate, any one or more of the following events: events occurs in relation to it: (ai) except for the purpose of a solvent reconstruction or amalgamation which has our prior written consent: a. process is filed in a court seeking an order that it suspends be wound up or threatens that a Controller be appointed to suspend payment it or any of its debts assets, unless the application is withdrawn, struck out or becomes unable dismissed within 7 days of it being filed; b. an order is made that it be wound up or that a Controller be appointed to pay it or any of its debts when they are dueassets; or c. a resolution that it be wound up is passed or proposed. (bii) its financial position deteriorates to such an extent thata liquidator, in Xxxxxxx’x opinionprovisional liquidator, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with Controller or any similar official is appointed to, or takes possession or control of, all or any of its assets or undertaking; (iii) an administrator is appointed to it, a resolution that an administrator be appointed to it is passed or proposed, or any other steps are taken to appoint an administrator to it; (iv) it enters into, or resolves to enter into, an arrangement, compromise or composition with any of, or any class of, its creditors or members, or an assignment for the benefit of any of, or any class of, its creditors, or process is filed in a court seeking approval of any such arrangement, compromise or composition; (v) a reorganisation, moratorium, deed of company arrangement or other administration involving one or more of its creditors is proposed or effected; (vi) any action is taken by the Australian Securities and Investments Commission with a view to rescheduling any of its debtsderegistration or its dissolution, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to courtthe Australian Securities and Investments Commission that any such action be taken; (vii) it is insolvent within the meaning of section 95A of the Corporations Act, as disclosed in its accounts or otherwise; (viii) it is unable to pay any of its debts as they are due or is presumed to be insolvent under any applicable law; (ix) it stops or suspends or threatens to stop or suspend: a. the payment of all or a class of its debts; or b. the conduct of all or a substantial part of its business. (x) any event or circumstance set out in section 461 (General grounds on which company may be wound up by the Court) of the Corporations Act occurs in relation to it; (xi) as a result of the operation of section 459F(1) (When company taken to fail to comply with statutory demand) of the Corporations Act, it is taken to have failed to comply with a statutory demand; or (xii) anything having a substantially similar effect to any of the events specified above happens to it under the law of any jurisdiction; or (b) for any person who is an individual, any 1 or more of the following events occur in relation to that person: (i) the person has a bankruptcy notice issued against the person; (ii) a receiver or a trustee for creditors or in bankruptcy is appointed to any of the person's property’ (iii a garnishee notice is given concerning any money that the person is said to be owed; (iv) the person proposes or enters into an arrangement or composition with, or an order is made, assignment for the appointment benefit of, any of an administratorthe person's creditors; (v) the person proposes or effects a moratorium involving any of the person's creditors; (vi) the person stops or suspends, or if a notice threatens to stop or suspend: a. the payment of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser all or a receiver is appointed over class of its debts; or b. the assets conduct of the Purchaser; (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, all or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any substantial part of the Purchaser’s assets and such attachment person's business. (vii) the person is unable to pay any of the person's debts as they fall due or process is not discharged within fourteen (14) Days; (i) it informs any person that it is, presumed to be, insolventbe insolvent under any applicable law; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik (including the Security Interest) in relation to the Purchaser is revoked or becomes unenforceable.or

Insolvency Event. the Purchaser is or becomes subject to one or more of the following events: (a) it suspends or threatens to suspend payment of its debts or becomes unable to pay its debts when they are due; (b) its financial position deteriorates to such an extent that, in Xxxxxxx’x opinion, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the PurchaserPurchaser or business rescue; (e) an application is made to court, or an order is made, for the appointment of an administrator, business rescue practitioner or liquidator of any kind, or if a notice of intention to appoint an administrator administrator, business rescue practitioner or liquidator of any kind is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser or a receiver is appointed over the assets of the Purchaser; (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Days; (i) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik (including the Security Interest) in relation to the Purchaser is revoked or becomes unenforceable.

Insolvency Event. the Purchaser is or becomes subject to one or more of the following events: (a) it suspends or threatens to suspend payment of its debts or becomes unable to pay its debts when they are due; (b) its financial position deteriorates to such an extent that, in Xxxxxxx’x opinion, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to court, or an order is made, for the appointment of an administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser or a receiver is appointed over the assets of the Purchaser; (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Days; (i) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik ili Digitalnih Usluga, trideset (including the Security Interest30) in relation to the Purchaser is revoked or becomes unenforceablexxxx od (uključujući) datum izdavanja relevantne fakture.

Insolvency Event. the Purchaser is or becomes subject to one or more The occurrence of any of the following eventsfollowing: (a) it suspends or threatens to suspend payment of its debts or becomes unable to pay its debts when they are due; (b) its financial position deteriorates to such an extent that, in Xxxxxxx’x opinion, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an An application is made to court, or an order is made, for the appointment of an administrator, administrator or if a notice of intention to appoint an administrator is given or if an administrator is appointed; (b) Commencing negotiations with all or any class of creditors with a view to rescheduling any debts, over or making a proposal for or entering into any compromise or arrangement with creditors (other than for the Purchaserpurposes of a solvent reconstruction or amalgamation); (c) The presentation of a petition for a winding up order; (d) The passing of a resolution for winding up (other than for the purposes of a solvent reconstruction or amalgamation); (e) The court making an order for winding up (other than for the purposes of a solvent reconstruction or amalgamation); (f) The appointment of, or a person becomes with a right to appoint becoming entitled to appoint appoint, a receiver over the assets of the Purchaser or a receiver is appointed over the assets of the Purchasermanager or administrative receiver; (g) Being unable to pay debts as they fall due, or being deemed unable to pay debts, within the holder meaning of a qualifying floating charge over the assets section 123 of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiverInsolvency Xxx 0000; and (h) a creditor Any event occurs, or encumbrancer proceeding is taken, in any jurisdiction which has an effect equivalent or similar to any of the Purchaser attaches or takes possession ofevents mentioned above unless, or a distressin the case of the events set out in limbs (a), execution, sequestration or other such process is levied or enforced on or sued against(c) and (f) above, the whole proceedings to which they relate are frivolous or vexatious and are dismissed, stayed or discharged within twenty-one (21) calendar days of their commencement; Intellectual Property (“IP”): any patents, rights to inventions, registered designs, copyright and related rights, database rights, design rights, topography rights, trademarks, service marks, trade names and domain names, trade secrets, rights in unpatented know-how, rights of confidence and any other intellectual or industrial property rights of any nature including all applications (or rights to apply) for, and renewals or extensions of such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Daysworld; (i) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik (including NDA: means the Security Interest) in relation Nuclear Decommissioning Authority established pursuant to the Purchaser is revoked or becomes unenforceableprovisions of the Energy Xxx 0000.

Insolvency Event. the Purchaser is or becomes subject In this clause 13, Insolvency Event means with respect to one or more of the following events: a party: (a) it suspends the party is dissolved, wound up or threatens to suspend payment placed into bankruptcy or an order is made by a court or a resolution is passed or the party gives notice of its debts intention that the party be dissolved, wound up or becomes unable to pay its debts when they are due; placed into bankruptcy; (b) its financial position deteriorates to such an extent thata liquidator, provisional liquidator or trustee in Xxxxxxx’x opinion, bankruptcy is appointed in respect of the Purchaser’s ability to fulfil its obligations under party or any property of the Contract has been placed in jeopardy; party; (c) it commences negotiations with an application is made to a court for an order that the party be dissolved, wound up or placed into bankruptcy or a liquidator, provisional liquidator or trustee in bankruptcy be appointed in respect of the party or any property of the party and the application is not withdrawn or discharged within 10 Business Days from the party becoming aware or receiving notice of the application; (d) a controller is appointed in respect of the party or any property of the party or takes possession or gains control of any property of the party; (e) except to reconstruct or amalgamate while solvent, the party enters into, or resolves to enter into, a scheme of arrangement, administration, deed of company arrangement or composition with, or assignment for the benefit of, all or any class of its creditors with creditors, or it proposes a view to rescheduling reorganisation, moratorium or other administration involving any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to court, or an order is made, for the appointment of an administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; them; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser party is (or a receiver is appointed over the assets of the Purchaser; states that it is) insolvent or an insolvent under administration; (g) the holder of as a qualifying floating charge over the assets result of the Purchaser over the assets operation of section 459F(1) of the Purchaser has become entitled Corporations Act 2001 (Cth), the party is taken to appoint or has appointed an administrative receiver; have failed to comply with a statutory demand; (h) execution or other process issued on a judgment, decree or order of a court in favour of a creditor against the party, or encumbrancer another party authorised to be sued as nominal defendant on behalf of the Purchaser attaches party, is returned wholly or takes possession ofpartly unsatisfied, or the party makes a distress, execution, sequestration or other statement from which it may be reasonably deduced that such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Days; an event has occurred; (i) it informs the party takes any person that it is, presumed step to be, insolventobtain protection or is granted protection from its creditors under any applicable legislation; or (j) it ceases anything analogous or threatens having a substantially similar effect to cease to carry on business; or (k) any guarantee or security given to Sandvik (including of the Security Interest) in relation to events specified above happens under the Purchaser is revoked or becomes unenforceablelaw of any applicable jurisdiction.

Insolvency Event. the Purchaser is or becomes subject to one or more of the following events: (a) it suspends or threatens to suspend payment of its debts or becomes unable to pay its debts when they are due; (b) its financial position deteriorates to such an extent that, in Xxxxxxx’x Sandvik’s opinion, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to court, or an order is made, for the appointment of an administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser or a receiver is appointed over the assets of the Purchaser; (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession ofобстоятелства Обезщетението за забава, or a distressплатимо за дадена Стока, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen не може да надхвърля 5% (14пет процента) Days; от общата сума дължима за тази Стока (i) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik (including the Security Interest) in relation to the Purchaser is revoked or becomes unenforceableбез ДДС).

Insolvency Event. the Purchaser is or becomes subject to one or more of the following events: (a) it suspends or threatens to suspend payment of its debts or becomes unable to pay its debts when they are due; (b) its financial position deteriorates to such an extent that, in Xxxxxxx’x opinion, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to court, or an order is made, for the appointment of an administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser or a receiver is appointed over the assets of the Purchaser; (g) the holder of a qualifying floating charge over authorized body supervising the Purchaser's assets of has acquired the Purchaser over the assets of the Purchaser has become entitled right to appoint or has appointed an administrative receivera trustee; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Days; (i) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik (including the Security Interest) in relation to the Purchaser is revoked or becomes unenforceable.

Insolvency Event. the Purchaser is or becomes subject to one or more of the following events: (a) it suspends or threatens to suspend payment of its debts or becomes unable to pay its debts when they are due; (b) its financial position deteriorates to such an extent that, in Xxxxxxx’x opinion, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to court, or an order is made, for the appointment of an administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser or a receiver is appointed over the assets of the Purchaser; (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Days; (i) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik (including the Security Interest) in relation to the Purchaser is revoked or becomes unenforceablelongtemps que ce droit ou ce pouvoir existe. 25.4.

Insolvency Event. the Purchaser is or becomes subject to one or more of the following events: (a) it suspends or threatens to suspend payment of its debts or becomes unable to pay its debts when they are due; (b) its financial position deteriorates to such an extent that, in Xxxxxxx’x opinion, the Purchaser’s ability to fulfil its obligations under the Contract has been placed in jeopardy; (c) it commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors; (d) a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Purchaser; (e) an application is made to court, or an order is made, for the appointment of an administrator, or if a notice of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaser; (f) a person becomes entitled to appoint a receiver over the assets of the Purchaser or a receiver is appointed over the assets of the Purchaser; (g) the holder of a qualifying floating charge over the assets of the Purchaser over the assets of the Purchaser has become entitled to appoint or has appointed an administrative receiver; (h) a creditor or encumbrancer of the Purchaser attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of the Purchaser’s assets and such attachment or process is not discharged within fourteen (14) Days; (i) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on business; or (k) any guarantee or security given to Sandvik (including the Security Interest) in relation to the Purchaser is revoked or becomes unenforceable.