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 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 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 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 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 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 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 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. This Agreement may be terminated by either party, upon the Purchaser is or becomes subject occurrence of an insolvency event with respect to one or more of the following eventsother party. The term "Insolvency Event" with respect to a party shall mean that such party: (a1) it suspends is dissolved (other than pursuant to a consolidation, amalgamation or threatens to suspend payment of its debts merger); (2) becomes insolvent or becomes is unable to pay its debts when or fails or admits in writing its inability generally to pay its debts as they are become due; (b3) 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 general assignment, arrangement or composition with or for or enters into any compromise or arrangement with the benefit of its creditors; (d4) institutes or has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors' rights, or a petition is filedpresented for its winding-up or liquidation, and, in the case of any such proceeding or petition instituted or presented against it, such proceeding or petition (A) results in a notice judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation or (B) is givennot dismissed, discharged, stayed or restrained in each case within sixty (60) days of the institution or presentation thereof; (5) has a resolution is passedpassed for its winding-up, official management or an order is madeliquidation (other than pursuant to a consolidation, for amalgamation or in connection with the winding up of the Purchasermerger); (e6) an application is made seeks or becomes subject to court, or an order is made, for the appointment of an administrator, provisional liquidator, conservator, rehabilitator, receiver, trustee, custodian or if a notice other similar official for it or for all or substantially all of intention to appoint an administrator is given or if an administrator is appointed, over the Purchaserits assets; (f7) has a person becomes entitled to appoint a receiver over the secured party take possession of all or substantially all its 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, executionexecution attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains possession, or any such process is levied not dismissed, discharged, stayed or enforced on restrained, in each case within sixty (60) days thereafter; (8) causes or sued againstis subject to any event with respect to it which, under the whole or applicable laws of any part jurisdiction, has an analogous effect to any of the Purchaser’s assets and such attachment or process is not discharged within fourteen events specified in clauses (141) Days; to (i7) it informs any person that it is, presumed to be, insolvent; (j) it ceases or threatens to cease to carry on businessinclusive); or (k9) takes any guarantee action in furtherance of, or security given to Sandvik (including indicating its consent to, approval of, or acquiescence in, any of the Security Interest) in relation to the Purchaser is revoked or becomes unenforceableforegoing acts.

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 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.