Common use of Insolvency of Contractor Clause in Contracts

Insolvency of Contractor. CONTRACTOR shall be deemed insolvent if it has ceased to pay its debts in the ordinary course of business or cannot pay its debts as they become due, whether it has filed for bankruptcy or not, and whether insolvent within the meaning of the Federal Bankruptcy Law or not;

Insolvency of Contractor. CONTRACTOR shall be deemed to be insolvent if it has ceased to pay its debts for at least sixty days in the ordinary course of business or cannot pay its debts as they become due, whether it or not a petition has been filed for bankruptcy or not, under the Federal Bankruptcy Code and whether or not CONTRACTOR is insolvent within the meaning means of the Federal Bankruptcy Law or notCode;

Insolvency of Contractor. CONTRACTOR shall be deemed insolvent if it has ceased to pay its debts in the ordinary course of business or cannot pay its debts as they become due, due whether it has filed for committed an act of bankruptcy or not, and whether insolvent within the meaning of the Federal Bankruptcy Law or not;