Common use of INSOLVENCY OF THE COMPANY Clause in Contracts

INSOLVENCY OF THE COMPANY. (a) If at any time (i) the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, (ii) the Trustee is served with any order, process or paper from which it appears that an allegation to the effect that the Company is Insolvent has been made in a judicial proceeding or (iii) the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or from a Reliable Source to the effect that the Company is Insolvent, the Trustee shall discontinue allocations under Section 3 under this Trust Agreement, shall hold the Trust Fund for the benefit of the Company's creditors, and shall resume allocations under Section 3 under this Trust Agreement, only upon receipt of an order of a court of competent jurisdiction requiring such payment or if the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or other Reliable Source (other than a Reliable Source described in clause (iii) of the definition thereof) to the effect that the Company is not Insolvent; provided, however, that in the event that allocations under Section 3 were discontinued by reason of a court order or injunction, the Trustee shall resume allocations only upon receipt of an order of a court of competent jurisdiction requiring such allocation. The Company and its Chief Executive Officer shall be obligated to give the Trustee prompt written notice in the event that the Company becomes Insolvent. The Trustee shall not be liable to anyone in the event benefit payments are discontinued pursuant to this Section 7.2. For purposes of this Section 7.2, the term Company shall include any and all of the Company's subsidiaries. The Company hereby specifically represents and warrants to the Trustee that, as of the date hereof, neither the Company nor any subsidiary of the Company with one or more employees benefiting under the Plans is Insolvent.

INSOLVENCY OF THE COMPANY. (a) If at any time (i) the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, (ii) the Trustee is served with any order, process or paper from which it appears that an allegation to the effect that the Company is Insolvent has been made in a judicial proceeding or (iii) the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or from a Reliable Source to the effect that the Company is Insolvent, the Trustee shall discontinue allocations under Section 3 payment of Benefits under this Trust Agreement, shall hold the Trust Fund for the benefit of the Company's creditors, and shall resume allocations under Section 3 payment of Benefits under this Trust Agreement, Agreement in accordance with Section 4 hereof only upon receipt of an order of a court of competent jurisdiction requiring such payment or if the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or other Reliable Source (other than a Reliable Source described in clause (iii) of the definition thereof) to the effect that the Company is not Insolvent; provided, however, that in the event that allocations under Section 3 were payment of Benefits was discontinued by reason of a court order or injunction, the Trustee shall resume allocations payment of Benefits only upon receipt of an order of a court of competent jurisdiction requiring such allocationpayment. The Company and its Chief Executive Officer shall be obligated to give the Trustee prompt written notice in the event that the Company becomes Insolvent. The Trustee shall not be liable to anyone in the event benefit payments Benefits are discontinued pursuant to this Section 7.2. For purposes 6.3. (b) If the Trustee discontinues payment of this Benefits pursuant to Section 7.26.3(a) and subsequently resumes such payment, the term Company first payment to a Participant following such discontinuance shall include an aggregate amount equal to the difference between the payments which would have been made to such Participant under this Trust Agreement but for Section 6.3(a) and the aggregate payments actually made to such Participant by the Company (as certified to the Trustee by the Participant in writing) during any and all such period of discontinuance, plus interest on such amount at a rate equivalent to the net rate of return earned by the Trust Fund during the period of such discontinuance. (c) In the event that at any time any amount is paid from the Trust Fund to creditors of the Company's subsidiaries, the Company shall upon demand by the Trustee deposit into the Trust Fund a sum equal to the amount paid by the Trust Fund to such creditors. The Company hereby specifically represents and warrants Trustee shall be under no obligation to the Trustee that, as of the date hereof, neither the Company nor collect any subsidiary of the Company with one or more employees benefiting under the Plans is Insolventsuch deposit.

INSOLVENCY OF THE COMPANY. (a) If at any time (i) the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, (ii) the Trustee is served with any order, process or paper from which it appears that an allegation to the effect that the Company is Insolvent has been made in a judicial proceeding or (iii) the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or from a Reliable Source to the effect that the Company is Insolvent, the Trustee shall discontinue allocations under Section 3 payment of Benefits under this Trust Agreement, shall hold the Trust Fund for the benefit of the Company's ’s creditors, and shall resume allocations under Section 3 payment of Benefits under this Trust Agreement, Agreement in accordance with Section 4 hereof only upon receipt of an order of a court of competent jurisdiction requiring such payment or if the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or other Reliable Source (other than a Reliable Source described in clause (iii) of the definition thereof) to the effect that the Company is not Insolvent; provided, however, that in the event that allocations under Section 3 were payment of Benefits was discontinued by reason of a court order or injunction, the Trustee shall resume allocations payment of Benefits only upon receipt of an order of a court of competent jurisdiction requiring such allocationpayment. The Company and its Chief Executive Officer shall be obligated to give the Trustee prompt written notice in the event that the Company becomes Insolvent. The Trustee shall not be liable to anyone in the event benefit payments Benefits are discontinued pursuant to this Section 7.2. For purposes 6.3. (b) If the Trustee discontinues payment of this Benefits pursuant to Section 7.26.3(a) and subsequently resumes such payment, the term Company first payment to a Participant following such discontinuance shall include any an aggregate amount equal to the difference between the payments which would have been made to such Participant under this Trust Agreement but for Section 6.3(a) and all of the Company's subsidiaries. The aggregate payments actually made to such Participant by the Company hereby specifically represents and warrants (as certified to the Trustee thatby the Participant in writing) during any such period of discontinuance, as plus interest on such amount at a rate equivalent to the net rate of return earned by the date hereof, neither Trust Fund during the Company nor any subsidiary period of the Company with one or more employees benefiting under the Plans is Insolventsuch discontinuance.

INSOLVENCY OF THE COMPANY. (a) If at any time (i) the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, (ii) the Trustee is served with any order, process or paper from which it appears that an allegation to the effect that the Company is Insolvent has been made in a judicial proceeding or (iii) the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or from a Reliable Source to the effect that the Company is Insolvent, the Trustee shall discontinue allocations under Section 3 payment of Benefits under this Trust Agreement, shall hold the Trust Fund for the benefit of the Company's creditors, and shall resume allocations under Section 3 payment of Benefits under this Trust Agreement, Agreement in accordance with Section 4 hereof only upon receipt of an order of a court of competent jurisdiction requiring such payment or if the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or other Reliable Source (other than a Reliable Source described in clause (iii) of the definition thereof) to (b) If the Trustee discontinues payment of Benefits pursuant to Section 6.3(a) and subsequently resumes such payment, the first payment to a Participant for his Account following such discontinuance shall include an aggregate amount equal to the effect that difference between the payments which would have been made to such Participant under this Trust Agreement but for Section 6.2(a) and the aggregate payments actually made to such Participant by the Company is not Insolvent; provided(as certified to the Trustee by the Participant in writing) during any such period of discontinuance, however, that in plus interest on such amount at a rate equivalent to the net rate of return earned by the Trust Fund during the period of such discontinuance. (c) In the event that allocations under Section 3 were discontinued by reason at any time any amount is paid from the Trust Fund to creditors of a court order or injunctionthe Company, the Trustee Company shall resume allocations only upon receipt of an order of a court of competent jurisdiction requiring such allocation. The Company and its Chief Executive Officer shall be obligated to give demand by the Trustee prompt written notice in deposit into the event that Trust Fund a sum equal to the Company becomes Insolventamount paid by the Trust Fund to such creditors. The Trustee shall not be liable under no obligation to anyone in the event benefit payments are discontinued pursuant to this Section 7.2. For purposes of this Section 7.2, the term Company shall include collect any and all of the Company's subsidiaries. The Company hereby specifically represents and warrants to the Trustee that, as of the date hereof, neither the Company nor any subsidiary of the Company with one or more employees benefiting under the Plans is Insolventsuch deposit.

INSOLVENCY OF THE COMPANY. (a) If at any time (i) the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, (ii) the Trustee is served with any order, process or paper from which it appears that an allegation to the effect that the Company is Insolvent has been made in a judicial proceeding or (iii) the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or from a Reliable Source to the effect that the Company is Insolvent, the Trustee shall discontinue allocations under Section 3 under this Trust Agreement, shall hold the Trust Fund for the benefit of the Company's creditors, and shall resume allocations under Section 3 under this Trust Agreement, only upon receipt of an order of a court of competent jurisdiction requiring such payment or if the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or other Reliable Source (other than a Reliable Source described in clause (iii) of the definition thereof) to the effect that the Company is not Insolvent; provided, however, that in the event that allocations under Section 3 were discontinued by reason of a court order or injunction, the Trustee shall resume allocations only upon receipt of an order of a court of competent jurisdiction requiring such allocation. The Company and its Chief Executive Officer shall be obligated to give the Trustee prompt written notice in the event that the Company becomes Insolvent. The Trustee shall not be liable to anyone in the event benefit payments are discontinued pursuant to this Section 7.2. For purposes of this Section 7.2, the term Company shall include any and all of the Company's subsidiaries. The Company hereby specifically represents and warrants to the Trustee that, as of the date hereofDecember 20, 1996, neither the Company nor any subsidiary of the Company with one or more employees benefiting under the Plans is Insolvent.

INSOLVENCY OF THE COMPANY. (a) If at any time (i) the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, (ii) the Trustee is served with any order, process or paper from which it appears that an allegation to the effect that the Company is Insolvent has been made in a judicial proceeding or (iii) the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or from a Reliable Source to the effect that the Company is Insolvent, the Trustee shall discontinue allocations under Section 3 payment of Benefits under this Trust Agreement, shall hold the Trust Fund for the benefit of the Company's ’s creditors, and shall resume allocations under Section 3 payment of Benefits under this Trust Agreement, Agreement in accordance with Section 4 hereof only upon receipt of an order of a court of competent jurisdiction requiring such payment or if the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or other Reliable Source (other than a Reliable Source described in clause (iii) of the definition thereof) to the effect that the Company is not Insolvent; provided, however, that in the event that allocations under Section 3 were payment of Benefits was discontinued by reason of a court order or injunction, the Trustee shall resume allocations payment of Benefits only upon receipt of an order of a court of competent jurisdiction requiring such allocationpayment. The Company and its Chief Executive Officer shall be obligated to give the Trustee prompt written notice in the event that the Company becomes Insolvent. The Trustee shall not be liable to anyone in the event benefit payments Benefits are discontinued pursuant to this Section 7.2. For purposes 6.3. (b) If the Trustee discontinues payment of this Benefits pursuant to Section 7.26.3(a) and subsequently resumes such payment, the term Company first payment to a Participant following such discontinuance shall include an aggregate amount equal to the difference between the payments which would have been made to such Participant under this Trust Agreement but for Section 6.3(a) and the aggregate payments actually made to such Participant by the Company (as certified to the Trustee by the Participant in writing and confirmed by the Recordkeeper) during any and all such period of discontinuance, plus interest on such amount at a rate equivalent to the net rate of return earned by the Trust Fund during the period of such discontinuance, as determined by the Recordkeeper. (c) In the event that at any time any amount is paid from the Trust Fund to creditors of the Company's subsidiaries, the Company shall upon demand by the Trustee deposit into the Trust Fund a sum equal to the amount paid by the Trust Fund to such creditors. The Company hereby specifically represents and warrants Trustee shall be under no obligation to the Trustee that, as of the date hereof, neither the Company nor collect any subsidiary of the Company with one or more employees benefiting under the Plans is Insolventsuch deposit.

INSOLVENCY OF THE COMPANY. (a) If at any time (i) the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, (ii) the Trustee is served with any order, process or paper from which it appears that an allegation to the effect that the Company is Insolvent has been made in a judicial proceeding or (iii) the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency agency, a report filed with the Security and Exchange Commision, or from a Reliable Source public statement issued by the Company, The New York Times or The Wall Street Journal to the effect that the Company is Insolvent, the Trustee shall discontinue allocations under Section 3 payment of Benefits under this Trust Agreement, shall hold the Trust Fund for the benefit of the Company's ’s creditors, and shall resume allocations under Section 3 payment of Benefits under this Trust Agreement, Agreement in accordance with Section 4 hereof only upon receipt of an order of a court of competent jurisdiction requiring such payment or if the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency agency, a report filed with the Security and Exchange Commision, or other Reliable Source (other than a Reliable Source described in clause (iii) of public statement issued by the definition thereof) Company, The New York Times or The Wall Street Journal to the effect that the Company is not Insolvent; provided, however, that in the event that allocations under Section 3 were payment of Benefits was discontinued by reason of a court order or injunction, the Trustee shall resume allocations payment of Benefits only upon receipt of an order of a court of competent jurisdiction requiring such allocationpayment. The Company and its Chief Executive Officer shall be obligated to give the Trustee prompt written notice in the event that the Company becomes Insolvent. The Trustee shall not be liable to anyone in the event benefit payments Benefits are discontinued pursuant to this Section 7.2. For purposes 6.2. (b) If the Trustee discontinues payment of this Benefits pursuant to Section 7.26.2 (a) and subsequently resumes such payment, the term Company first payment to a Participant following such discontinuance shall include an aggregate amount equal to the difference between the payments which would have been made to such Participant under this Trust Agreement but for Section 6.2 (a) and the aggregate payments actually made to such Participant by the Company (as certified to the Trustee by the Participant in writing) during any and all such period of discontinuance, plus interest on such amount at a rate equivalent to the net rate of return earned by the Trust Fund during the period of such discontinuance. (c) In the event that at any time any amount is paid from the Trust Fund to creditors of the Company's subsidiaries, the Company shall upon demand by the Trustee deposit into the Trust Fund a sum equal to the amount paid by the Trust Fund to such creditors. The Company hereby specifically represents and warrants Trustee shall be under no obligation to the Trustee that, as of the date hereof, neither the Company nor collect any subsidiary of the Company with one or more employees benefiting under the Plans is Insolventsuch deposit.

INSOLVENCY OF THE COMPANY. (a) If at any time (i) the Company or a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, (ii) the Trustee is served with any order, process or paper from which it appears that an allegation to the effect that the Company is Insolvent has been made in a judicial proceeding or (iii) the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or from a Reliable Source reliable source (within the meaning of Section 6.02 of the Trust Agreement) to the effect that the Company is Insolvent, the Trustee shall discontinue allocations under Section 3 payment of Benefits under this Trust Agreement, shall hold the Trust Fund for the benefit of the Company's ’s creditors, and shall resume allocations under Section 3 payment of Benefits under this Trust Agreement, Agreement in accordance with Article IV hereof only upon receipt of an order of a court of competent jurisdiction requiring such payment or if the Trustee has actual knowledge of a current report or statement from a nationally recognized credit reporting agency or other Reliable Source reliable source (other than a Reliable Source described in clause (iii) within the meaning of the definition thereofSection 6.02 of this Trust Agreement) to the effect that the Company is not Insolvent; provided, however, that in the event that allocations under Section 3 were payment of Benefits was discontinued by reason of a court order or injunction, the Trustee shall resume allocations payment of Benefits only upon receipt of an order of a court of competent jurisdiction requiring such allocationpayment. The Company Board of Directors and its the Chief Executive Officer shall be obligated to give the Trustee prompt written notice in the event that the Company becomes Insolvent. The Trustee shall not be liable to anyone in the event benefit payments Benefits are discontinued pursuant to this Section 7.2. For purposes of this Section 7.2, the term Company shall include any and all of the Company's subsidiaries. The Company hereby specifically represents and warrants to the Trustee that, as of the date hereof, neither the Company nor any subsidiary of the Company with one or more employees benefiting under the Plans is Insolvent6.03.