INSOLVENCY OR MERGER Sample Clauses

INSOLVENCY OR MERGER. This Agreement may be terminated by either GEC or Isongo on not less than ten (10) days' written notice to the other party hereto, effective upon the date stated in such notice, if the other party shall file a petition in bankruptcy or for a receiver for all or any substantial portion of its property and assets, or if such petition shall be filed against the other party and shall not be dismissed with thirty (30) days from its filing, or if the other party shall file a petition for reorganization or to effect a composition with its creditors or such a petition shall be filed against the other party and shall not be discharged within thirty (30) days after the date of its filing, or if the other party shall make a general assignment for the benefit of creditors, and in the case of any such termination, all of the rights and obligations under and pursuant to this Agreement shall cease and terminate, except such as shall have accrued prior to termination, including but not limited to, any and all claims and demands for damages for any breach of any covenant contained in this Agreement.
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INSOLVENCY OR MERGER. In the event of a bankruptcy, insolvency, change of control or if either PARTY or its assigns shall at any time be merged or consolidated into or with any other company or corporation, or if substantially all of the assets or control of either PARTY are at any time sold or transferred to any other company or corporation, the provisions of this AGREEMENT shall be binding upon and inure to the benefit of the company or corporation resulting from such merger, sale, transfer or consolidation and these provisions shall apply in the event of any subsequent merger, transfer, sale or consolidation.
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INSOLVENCY OR MERGER. This Agreement may be terminated by either Innotech or Credence on not less than ten (10) days' written notice to the other party hereto, effective upon the date stated in such notice, if the other party shall file a petition in bankruptcy or for a receiver for all or any substantial portion of its property and assets, or if such petition shall be filed against the other party and shall not be dismissed with thirty (30) days from its filing, or if the other party shall file a petition for reorganization or to effect a compositions with its creditors or such a petition shall be filed against the other party and shall not be discharged within thirty (30) days after the date of its filing, or if the other party shall make a general assignment for the benefit of creditors, and in the case of any such termination, all of the rights and obligations under and pursuant to this Agreement shall cease and terminate, except such as shall have accrued prior to termination, including but not limited to, any and all claims and demands for damages for any breach of any covenant contained in this Agreement, and except for the continuing obligations of Credence and lnnotech contained in Section 8 with respect to the confidential treatment of technical, economic and marketing information.
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INSOLVENCY OR MERGER. This Agreement may be terminated no later than ten (10) days in advance with the other party, which shall enter into force on the date set out in this notice, if the other party applies for bankruptcy or for the insolvency administrator in respect of all or any substantial part of its assets and assets, or if such petition is filed against the other party and shall not be rejected within thirty (30) days of its submission, or if the other party submits Article 8 for the reorganisation or arrangement with its creditors, whether such petition is filed against the other party and is not executed within thirty (30) days of the date of its submission, or, in the event of a general assignment by the other Party for the benefit of creditors, and in the event of any such termination, all rights and obligations arising from this Agreement shall be terminated and terminated, except where they arose prior to termination, including but not limited to any and all claims and actions for damages for any breach of the agreements covered by this Agreement. 10.6 Survival rate Section 6.2, Section 8, Section 10 and Section 11 of this Agreement shall apply and shall
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Related to INSOLVENCY OR MERGER

  • Insolvency or Bankruptcy The death, dissolution or insolvency of, appointment of a receiver by or on behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against me or any co-signer, endorser, surety or guarantor of this Agreement or any other obligations I have with you.

  • Bankruptcy, Insolvency or Reorganization Proceedings If an Event of Default specified under Section 9.1.12 [Relief Proceedings] shall occur, the Lenders shall be under no further obligations to make Loans hereunder and the Issuing Lender shall be under no obligation to issue Letters of Credit and the unpaid principal amount of the Loans then outstanding and all interest accrued thereon, any unpaid fees and all other Indebtedness of the Borrower to the Lenders hereunder and thereunder shall be immediately due and payable, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived; and

  • Insolvency or Liquidation Proceedings (a) If in any Insolvency or Liquidation Proceeding and prior to the Discharge of Priority Lien Obligations, the holders of Priority Lien Obligations by an Act of Required Debtholders consent to any order:

  • No Insolvency or Judgment Neither Borrower, nor any Indemnitor, nor any Constituent Entity of Borrower or any Indemnitor, (a) has been or is currently the subject of or a party to any completed or pending bankruptcy, reorganization or insolvency proceeding; or (b) is currently the subject of any judgment unsatisfied of record or docketed in any court of the state in which the Property is located or in any other court located in the United States. The proposed Loan will not render the Borrower and the Borrower Parties (collectively) or any general partner or member of Borrower insolvent. As used in this Mortgage, the term “insolvent” means that the sum total of all of an entity’s liabilities (whether secured or unsecured, contingent or fixed, or liquidated or unliquidated) is in excess of the value of all such entity’s non-exempt assets, i.e., all of the assets of the entity that are available to satisfy claims of creditors.

  • Insolvency Proceedings Any corporate action, legal proceedings or other procedure or step is taken in relation to:

  • Insolvency Filing Notwithstanding anything to the contrary herein, in the Agreement or in the Equity Definitions, upon any Insolvency Filing or other proceeding under the Bankruptcy Code in respect of the Issuer, this Transaction shall automatically terminate on the date thereof without further liability of either party to this Confirmation to the other party (except for any liability in respect of any breach of representation or covenant by a party under this Confirmation prior to the date of such Insolvency Filing or other proceeding), it being understood that this Transaction is a contract for the issuance of Shares by the Issuer.

  • Insolvency Proceedings, Etc Any Loan Party or any of its Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or

  • No Insolvency Proceedings No attachments, execution proceedings, assignments for the benefit of creditors, insolvency, bankruptcy, reorganization or other proceedings are pending, or to the Company’s Knowledge, threatened against the Company or any of the Company Subsidiaries, nor are any such proceedings contemplated by the Company or any of the Company Subsidiaries.

  • Bankruptcy or Insolvency If the Borrower, Grantor or any Guarantor: (i) becomes insolvent, or makes a transfer in fraud of creditors, or makes an assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due; (ii) generally is not paying its debts as such debts become due; (iii) has a receiver, trustee or custodian appointed for, or take possession of, all or substantially all of the assets of such party or any of the Collateral, either in a proceeding brought by such party or in a proceeding brought against such party and such appointment is not discharged or such possession is not terminated within sixty (60) days after the effective date thereof or such party consents to or acquiesces in such appointment or possession; (iv) files a petition for relief under the United States Bankruptcy Code or any other present or future federal or state insolvency, bankruptcy or similar laws (all of the foregoing hereinafter collectively called "Applicable Bankruptcy Law") or an involuntary petition for relief is filed against such party under any Applicable Bankruptcy Law and such involuntary petition is not dismissed within sixty (60) days after the filing thereof, or an order for relief naming such party is entered under any Applicable Bankruptcy Law, or any composition, rearrangement, extension, reorganization or other relief of debtors now or hereafter existing is requested or consented to by such party; (v) fails to have discharged within a period of sixty (60) days any attachment, sequestration or similar writ levied upon any property of such party; or (vi) fails to pay within thirty (30) days any final money judgment against such party.

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