Common use of Insolvency or Bankruptcy Clause in Contracts

Insolvency or Bankruptcy. Either ( 1.) the appointment of a receiver to take possession of all or substantially all of the assets of Lessee, or ( 2.) a general assignment by Lessee for the benefit of creditors, or ( 3.) any action taken or suffered by Lessee under any insolvency or bankruptcy act shall constitute a breach of this Lease by Lessee. Upon the happening of any such event, this Lease shall terminate ten (10) days after written notice of termination from Lessor to Lessee. This section is to be applied consistent with the applicable state and federal law in effect at the time such event occurs.

Insolvency or Bankruptcy. Either ( 1.) the appointment of a receiver to take ------------------------ possession of all or substantially all of the assets of Lessee, or ( 2.) a general assignment by Lessee for the benefit of creditors, or ( 3.) any action taken or suffered by Lessee under any insolvency or bankruptcy act shall constitute a breach of this Lease by Lessee. Upon the happening of any such event, this Lease shall terminate ten (10) days after written notice of termination from Lessor to Lessee. This section is to be applied consistent with the applicable state and federal law in effect at the time such event occurs.

Insolvency or Bankruptcy. Either ( 1.) the appointment of a receiver to take possession of all or substantially all of the assets of Lessee, or ( 2.) a general assignment by Lessee for the benefit of creditors, or ( 3.) any action taken or suffered by Lessee under any insolvency or bankruptcy act shall constitute a breach of this Lease by Lessee. Upon the happening of any such event, this Lease shall terminate ten (10) days after written notice of termination from Lessor to Lessee. This section is to be applied consistent with the applicable state and federal law laws in effect at the time such event occurs.

Insolvency or Bankruptcy. Either ( 1.) the appointment of a receiver to take possession of all or substantially all of the assets of Lessee, or ( 2.) a general assignment by Lessee for the benefit of creditors, or ( 3.) any action taken or suffered by Lessee under any insolvency or bankruptcy act shall constitute a breach of this Lease by Lessee. Upon the happening of any such event, this Lease shall terminate ten (10) days after written notice of termination from Lessor to Lessee. This section is to be applied consistent with the applicable state and federal law in effect at the time such event occurs.

Insolvency or Bankruptcy. Either ( 1.) the appointment of a receiver to take possession of all or substantially all of the assets of LesseeLessee which is not removed within sixty (60) days, or ( 2.) a general assignment by Lessee for the benefit of creditors, or ( 3.) any action taken or suffered by Lessee under any insolvency or bankruptcy act shall constitute a breach of this Lease by Lessee. Upon the happening of any such event, this Lease shall terminate ten (10) days after written notice of termination from Lessor to Lessee. This section is to be applied consistent with the applicable state and federal law in effect at the time such event occurs.

Insolvency or Bankruptcy. Either ( 1.) the appointment of a receiver to take ------------------------- possession of all or substantially all of the assets of Lessee, or ( 2.) a general assignment by Lessee for the benefit of creditors, or ( 3.) any action taken or suffered by Lessee under any insolvency or bankruptcy act shall constitute a breach of this Lease by Lessee. Upon the happening of any such event, this Lease shall terminate ten (10) days after written notice of termination from Lessor to Lessee. This section is to be applied consistent with the applicable state and federal law in effect at the time such event occurs.