Common use of INSOLVENCY OF LESSEE Clause in Contracts

INSOLVENCY OF LESSEE. If the Lessee becomes insolvent, bankrupt, or has a receiver appointed, the Board may terminate this Lease. Insolvency as used in this Lease will mean the inability of the Lessee to meet obligations as they come due.

INSOLVENCY OF LESSEE. If the Lessee becomes insolvent, bankrupt, or has a receiver appointed, the Board or their interest is transferred by operation of law, by reason of insolvency, State may terminate cancel this LeaseLease at its option. Insolvency as used in this Lease herein will mean the inability of the Lessee to meet its monetary obligations under this Lease as they come due.

INSOLVENCY OF LESSEE. If the Lessee LESSEE becomes insolvent, bankrupt, or has a receiver appointed, the Board LESSOR may terminate this Leaselease. Insolvency as used in this Lease herein will mean the inability of the Lessee LESSEE to meet obligations as they come due.