Common use of Insolvency of the Contractor Clause in Contracts

Insolvency of the Contractor. The CONTRACTOR shall be deemed to be insolvent if it has ceased to pay its debts for at least 60 days in the ordinary course of business or cannot pay its debts as they become due, whether or not a petition has been filed under the Federal Bankruptcy Code and whether or not the CONTRACTOR is insolvent within the meaning of the Federal Bankruptcy Code;

Insolvency of the Contractor. The CONTRACTOR shall be deemed to be insolvent if it has ceased to pay its debts for at least 60 days sixty (60) Days in the ordinary course of business or cannot pay its debts as they become due, whether or not a petition has been filed under the Federal Bankruptcy Code and whether or not the CONTRACTOR is insolvent within the meaning of the Federal Bankruptcy Code;

Insolvency of the Contractor. The CONTRACTOR shall be deemed to be insolvent if it has ceased to pay its debts for at least 60 sixty (60) days in the ordinary course of business or cannot pay its debts as they become due, whether or not a petition has been filed under the Federal Bankruptcy Code and whether or not the CONTRACTOR is insolvent within the meaning of the Federal Bankruptcy Code;