Insolvency, Liquidation. Neither the Company nor any of its Subsidiaries (other than Metapayment & Trust Co.) is subject to liquidation, dissolution, work-out, composition, reorganization or bankruptcy proceedings, is generally unable to pay its debts as they become due, has made a general assignment for the benefit of its creditors or has taken any action in furtherance of, or indicated its consent to or acquiescence in, any of the foregoing.
Insolvency, Liquidation. 12.4.1. The Borrower or any of the SPCs (whether simultaneously or not) is unable to pay its debts or becomes unable to pay its debts as they fall due or suspends making payments (whether of principal or interest) with respect to all or any class of its debts.
12.4.2. A trustee, liquidator, receiver or similar officer is appointed in respect of the Borrower or any of the SPCs (or any material asset thereof and whether simultaneously or not) or distress or any form of execution is levied or enforced upon or claimed against any such assets, which proceedings are not dismissed, denied, stayed, discharged or struck out within 90 (ninety) days.
12.4.3. The Borrower, or any of the SPCs convenes a meeting of its creditors or proposes to make any arrangement or composition with, or any assignment for the benefit of, its creditors or a petition is filed or a meeting is convened for the purpose of considering a resolution or other steps are taken for the making of an administration order in relation to such entity or for its winding up, bankruptcy or dissolution.
12.4.4. Any person presents a petition, or files documents with a court or any registrar for its winding-up, administration or dissolution (including on a temporary basis) of the Borrower or any of the SPCs (whether simultaneously or not) or an order for their winding-up, administration or dissolution is made, including on a temporary basis, (unless any such proceedings or acts are dismissed, denied, stayed, discharged or struck out within 90 (ninety) days).
12.4.5. Sections 12.4.1-12.4.2 above shall apply with relation to BSC or Eastern Sphere in the event that such occurrence has an actual effect on the repayment of the Loans under the terms of this Agreement.
Insolvency, Liquidation. This Agreement will terminate immediately and without notice: (i) upon the issuance by any federal, state or local regulatory or administrative body of any administrative or regulatory sanction or penalty against the Fund, (ii) if a petition in bankruptcy is filed by or against the Fund, (iii) if the Fund has made an assignment for the benefit of creditors, (iv) if the Fund has voluntarily or involuntarily been adjudicated as bankrupt, (v) if a petition is filed for the reorganization of the Fund, or (vi) if the Trust or Fund is liquidated.
Insolvency, Liquidation. 12.4.1. The Borrower or the SPV (whether simultaneously or not) is unable to pay its debts or becomes unable to pay its debts as they fall due or suspends making payments (whether of principal or interest) with respect to all or any class of its debts.
12.4.2. A trustee, liquidator, receiver or similar officer is appointed in respect of the Borrower or the SPV (or any material asset thereof and whether simultaneously or not) or distress or any form of execution is levied or enforced upon or claimed against any such assets, which proceedings are not dismissed, denied, stayed, discharged or struck out within 90 (ninety) days.
12.4.3. The Borrower, or the SPV, convenes a meeting of its creditors or proposes to make any arrangement or composition with, or any assignment for the benefit of, its creditors or a petition is filed or a meeting is convened for the purpose of considering a resolution or other steps are taken for the making of an administration order in relation to such entity or for its winding up, bankruptcy or dissolution.
12.4.4. Any person presents a petition, or files documents with a court or any registrar for its winding-up, administration or dissolution (including on a temporary basis) of the Borrower or the SPV (whether simultaneously or not) or an order for their winding-up, administration or dissolution is made, including on a temporary basis, (unless any such proceedings or acts are dismissed, denied, stayed, discharged or struck out within 90 (ninety) days).
Insolvency, Liquidation. (a) As of the date hereof, no Relevant Company is insolvent, bankrupt, or generally unable to pay its debts as and when they fall due.
(b) In respect of each of the Relevant Companies, no order has been made and no resolution has been passed for the winding up of it or for a provisional liquidator to be appointed in respect of it and no meeting has been convened for the purposes of winding it up.
Insolvency, Liquidation. No insolvency proceedings are pending against CGES and no order has been made, proceeding issued, or resolution passed for the winding up of CGES, and no receiver or similar Person has been appointed (in an insolvency or liquidation situation) over the whole or any part of the assets, business or revenue of CGES, nor do circumstances exist which may lead to the same.
Insolvency, Liquidation. The liquidation, dissolution, or discontinuance of business by a Party in any manner or the filing of any petition by or against a Party under any federal or state bankruptcy or insolvency laws, which petition shall not be dismissed within 60 days after filing.
Insolvency, Liquidation. Seller has not ceased payments of its debts or had an administrator or reorganizer appointed or is otherwise subject to, party to or otherwise affected by any action, request, decision or other measure under any law or statute relating to bankruptcy, receivership, liquidation or any event or procedure analogous thereto.
Insolvency, Liquidation. Purchaser has not ceased payments of its debts or had an administrator or reorganizer appointed or is otherwise subject to, party to or otherwise affected by any action, request, decision or other measure under any law or statute relating to bankruptcy, receivership, liquidation or any event or procedure analogous thereto.
Insolvency, Liquidation. 10.1 If the Purchaser becomes insolvent or goes into liquidation or makes any composition with his creditors or if a receiver of any of his assets is appointed pursuant to an arrangement sanctioned in terms of the Companies Act, 2008, the Company shall be at liberty either:
