Common use of Insolvency Clause in Contracts

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 49 contracts

Samples: Security Agreement (Nextest Systems Corp), Stock Option Agreement (Neurocrine Biosciences Inc), Stock Option Agreement (Neurocrine Biosciences Inc)

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Insolvency. Pledgor agrees that if a bankruptcy or insolvency ---------- proceeding is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 33 contracts

Samples: Stock Option Agreement (Numerical Technologies Inc), Restricted Stock Purchase Agreement (Evolve Software Inc), Founder's Stock Purchase Agreement (Biomarin Pharmaceutical Inc)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes Pledxxx xxxes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 16 contracts

Samples: Restricted Stock Purchase Agreement (Avanex Corp), Restricted Stock Purchase Agreement (Avanex Corp), Restricted Stock Purchase Agreement (Avanex Corp)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against ithim, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 15 contracts

Samples: Security Agreement (Cadiz Inc), Security Agreement (Smartserv Online Inc), Restricted Stock Purchase Agreement (Heska Corp)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against itPledgor, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 7 contracts

Samples: Secured Loan Agreement (Connetics Corp), Secured Loan Agreement (Collagen Corp /De), Security Agreement (Dna Sciences Inc)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding ---------- is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor Xxxxxxx makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 6 contracts

Samples: Note (Ibeam Broadcasting Corp), Note (Ibeam Broadcasting Corp), Note (Ibeam Broadcasting Corp)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency ---------- proceeding is instituted by or against ithim, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 3 contracts

Samples: Security Agreement (Audible Inc), Restricted Stock Purchase Agreement (Genesys Telecommunications Laboratories Inc), Security Agreement (Computer Access Technology Corp)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor Xxxxxxx makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 2 contracts

Samples: Stock Option Agreement (Roxio Inc), Stock Option Agreement (Sierra Monitor Corp /Ca/)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of defaultDefault.

Appears in 2 contracts

Samples: Employment Agreement (Webvan Group Inc), Restricted Stock Purchase Agreement (Idealab)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against ithim, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of defaultdefault only against the Collateral securing the Non-Recourse Note.

Appears in 2 contracts

Samples: Pledge Agreement (Ipg Photonics Corp), Pledge Agreement (Ipg Photonics Corp)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency ---------- proceeding is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor Xxxxxxx makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 2 contracts

Samples: Stock Option Agreement (Numerical Technologies Inc), Stock Option Agreement (Numerical Technologies Inc)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency insol- vency proceeding is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor Xxxxxxx makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 2 contracts

Samples: Stand Alone Stock Option Agreement (Rational Software Corp), Stand Alone Stock Option Agreement (Rational Software Corp)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding ---------- is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 2 contracts

Samples: Employment Agreement (Pointcast Inc), Stock Option Agreement (Cabletron Systems Inc)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is ---------- instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 1 contract

Samples: Secured Promissory Note (Sunrise Telecom Inc)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency ---------- proceeding is instituted by or against ithim, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of defaultDefault.

Appears in 1 contract

Samples: Securities Account Pledge Agreement (Emachines Inc /De/)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency ---------- proceeding is instituted by or against itPledgor, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 1 contract

Samples: Security Agreement (Pointshare Corp)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against it, or if a receiver is appointed approved for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 1 contract

Samples: Security Agreement (Novadigm Inc)

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Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against itPledgor, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on all of the Note Notes shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 1 contract

Samples: Loan Agreement (Connetics Corp)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency ---------- proceeding is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become be come immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 1 contract

Samples: Security Agreement (Lexar Media Inc)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against it, or if a receiver is appointed for the property of the Pledgor, or if Pledgor makes Pledxxx xxxes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 1 contract

Samples: Offer Letter Amendment (Cardiac Pathways Corp)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency ---------- proceeding is instituted by or against it, or if a receiver is appointed for the property of Pledgor, Pledgor or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 1 contract

Samples: Director Stock Option Agreement (Powerwave Technologies Inc)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency ---------- proceeding is instituted by or against it, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case event of defaultDefault.

Appears in 1 contract

Samples: Security Agreement (Applied Micro Circuits Corp)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against ithim, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee Corporation may proceed as provided in the case of default.

Appears in 1 contract

Samples: Security Agreement (Geoworks /Ca/)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against itPledgor, or if a receiver is appointed for the property of Pledgor, or if the Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note Notes shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 1 contract

Samples: Security Agreement (Dna Sciences Inc)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against itPledgor, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may many proceed as provided in the case of default.

Appears in 1 contract

Samples: Security Agreement (Dna Sciences Inc)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against ithim, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note shall become immediately due and payable, and Pledgee may proceed as provided in the case of defaultan Event of Default.

Appears in 1 contract

Samples: Security Agreement (Noveon Inc)

Insolvency. Pledgor agrees that if a bankruptcy or insolvency proceeding is instituted by or against itPledgor, or if a receiver is appointed for the property of Pledgor, or if Pledgor makes an assignment for the benefit of creditors, the entire amount unpaid on the Note Notes shall become immediately due and payable, and Pledgee may proceed as provided in the case of default.

Appears in 1 contract

Samples: Security Agreement (Dna Sciences Inc)

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