Insolvency Proceeding. The words “Insolvency Proceeding” shall mean and includes any proceeding or case commenced by or against Borrower or Grantor, or any guarantor of the Indebtedness, or any of Grantor’s account debtors, under any provisions of the United States Bankruptcy Code, as amended, or any other bankruptcy or insolvency law, including, but not limited to assignments for the benefit of creditors, formal or informal moratoriums, composition or extensions with some or all creditors, any proceeding seeking a reorganization, arrangement or any other relief under the United States Bankruptcy Code, as amended, or any other bankruptcy or insolvency law.
Appears in 3 contracts
Samples: Commercial Security Agreement (Premier Power Renewable Energy, Inc.), Commercial Security Agreement (Premier Power Renewable Energy, Inc.), Commercial Security Agreement (Premier Power Renewable Energy, Inc.)
Insolvency Proceeding. The words “Insolvency Proceeding” shall mean and includes any proceeding or case commenced by or against Borrower or GrantorBorrower, or any guarantor of the Indebtedness, or any of GrantorBorrower’s account debtors, under any provisions of the United States Bankruptcy Code, as amended, or any other bankruptcy or insolvency law, including, but not limited to assignments for the benefit of creditors, formal or informal moratoriums, composition or extensions with some or all creditors, any proceeding seeking a reorganization, arrangement or any other relief under the United States Bankruptcy Code, as amended, or any other bankruptcy or insolvency law.
Appears in 1 contract
Samples: Commercial Security Agreement (Premier Power Renewable Energy, Inc.)
