Institution of Bankruptcy Proceedings. The institution by the Company of proceedings to be adjudicated as bankrupt or insolvent, or the consent by it to institution of bankruptcy or insolvency proceedings against it or the filing by it of a petition or answer or consent seeking reorganization or release under the federal Bankruptcy Act, or any other applicable federal or state law, or the consent by it to the filing of any such petition or the appointment of a receiver, liquidator, assignee, trustee, or other similar official, of the Company, or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the taking of corporate action by the Company in furtherance of any such action; or
Institution of Bankruptcy Proceedings. If a party institutes proceedings to be adjudicated voluntarily bankrupt or consents to the filing of bankruptcy proceedings against it, or files a petition for answer or consent seeking reorganization under any bankruptcy act or similar law or consents to the filing of any petition or consents to the appointment of a receiver or liquidator or trustee or assignee in bankruptcy or insolvency of it, or all or substantially all of its property, or makes a general assignment for the benefit of creditors or admits in writing its inability to pay its debts generally as they become due, then the other party shall have the right to terminate this Agreement by giving the first mentioned party notice to that effect within thirty (30) days after the occurrence of such event.
Institution of Bankruptcy Proceedings. The Company shall not without the consent of all its Members, including each Independent Member, institute against, or join in any institution against, any entity in which the Company holds an ownership interest, any bankruptcy, insolvency, liquidation, reorganization or arrangement proceedings or other proceedings under any United States, federal or state bankruptcy or similar law. When acting on matters subject to a vote of the Members under this Agreement, the Members shall to the fullest extent permitted by law, including Section 18-1101(c) of the Act, take into account the interests of the creditors of the Company as well as that of the Members. The Company shall not, without the prior written consent of each nationally recognized rating agency which has an outstanding rating in effect with respect to Notes or Certificates that are issued by a Trust or pursuant to an Indenture to which the Company is a party, amend, alter, change or repeal this Section 14.1.
