Common use of Insolvency Matters Clause in Contracts

Insolvency Matters. 4.1 No resolution has been taken by the board of directors or shareholders meeting (or equivalents under local Law) of any of the EDS Entities, and no Governmental Order has been formally served on any of the EDS Entities, for a general moratorium on the payment of creditors of that EDS Entity, a winding up or liquidation of that EDS entity or the appointment of a liquidator, provisional liquidator, judicial administrator or receiver (or equivalents under local Law) to that EDS Entity. 4.2 To the Seller’s Knowledge, no petition has been presented to any Governmental Authority having jurisdiction under applicable Law seeking a Governmental Order for a general moratorium on the payment of creditors of any EDS Entity, a winding up or liquidation of that EDS Entity or the appointment of a liquidator, provisional liquidator, judicial administrator or receiver (or equivalents under local Law) to the EDS Entity and, to the Seller’s Knowledge, no events have occurred which, under Law, would justify such petition or Proceedings.