Common use of Involuntary Bankruptcy; Appointment of Receiver, Etc Clause in Contracts

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state law; or (2) the continuance of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiary; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief with respect to Holdings, Borrower Sponsor or any of its Subsidiaries Relevant Party in an involuntary case under the Bankruptcy CodeInvoluntary Bankruptcy, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawLaw; or (2ii) the continuance occurrence and continuation of any of the following events for sixty (60) days unless dismissed, bonded dismissed or dischargeddischarged within such time: (aw) an involuntary case is commenced against Holdings, Borrower under the Bankruptcy Code or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law Law now or hereafter in effect; , is commenced, in which Sponsor or any Relevant Party is a debtor or any portion of the Collateral or any Membership Interest is property of the estate therein, (bx) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower Sponsor or any of its SubsidiariesRelevant Party, or over all or a substantial part of its property, is entered; or , (cy) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower Sponsor or any of its Subsidiaries, Relevant Party for all or a substantial part of the property of Holdingssuch Person or (z) a warrant of attachment, Borrower execution or similar process shall have been issued against any substantial part of the property of the Sponsor or any such Subsidiary; orRelevant Party;

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief with respect to Holdings, Borrower the Sponsor or any of its Subsidiaries Relevant Party in an involuntary case under the Bankruptcy CodeInvoluntary Bankruptcy, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawLaw; or (2ii) the continuance occurrence and continuation of any of the following events for sixty (60) days unless dismissed, bonded dismissed or dischargeddischarged within such time: (aw) an involuntary case is commenced against Holdings, Borrower under the Bankruptcy Code or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law Law now or hereafter in effect; , is commenced, in which the Sponsor or any Relevant Party is a debtor or any portion of the Collateral or any Membership Interest is property of the estate therein, (bx) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower the Sponsor or any of its SubsidiariesRelevant Party, or over all or a substantial part of its property, is entered; or , (cy) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower the Sponsor or any of its Subsidiaries, Relevant Party for all or a substantial part of the property of Holdingssuch Person or (z) a warrant of attachment, Borrower execution or similar process shall have been issued against any substantial part of the property of the Sponsor or any such Subsidiary; orRelevant Party;

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawlaw within 60 days; or (2ii) the continuance of any of the following events for sixty (60) 60 days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiaryof its Subsidiaries; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A The entry by a court enters of competent jurisdiction of a decree or order for relief with in respect to of Holdings, the Buyer, any Borrower or any of its Subsidiaries Significant Subsidiary in an involuntary case under the Bankruptcy Codeany Debtor Relief Law now or hereafter in effect, which decree or order is not stayed stayed; or any other similar relief is not shall be granted under any applicable federal federal, provincial, territorial, state or state lawlocal Requirement of Law; or (2ii) the continuance commencement of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, the Buyer, any Borrower or any of its Subsidiaries, Significant Subsidiary under any applicable bankruptcy, insolvency or other similar law now or hereafter Debtor Relief Law; the entry by a court having jurisdiction in effect; or (b) the premises of a decree or order of a court for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian administrator, custodian, monitor or other officer having similar powers over Holdings, the Buyer, any Borrower or any of its SubsidiariesSignificant Subsidiary, or over all or a substantial part of its property, is entered; or (c) the involuntary appointment of an interim receiver, trustee or other custodian is appointed without the consent of Holdings, the Buyer, any Borrower or any of its Subsidiaries, Significant Subsidiary for all or a substantial part of the property of Holdingsits property, Borrower which remains undismissed, unvacated, unbounded or any such Subsidiaryunstayed pending appeal for 60 consecutive days; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Codeany applicable bankruptcy, insolvency or other similar law now or hereafter in effect, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state law; or (2) the continuance of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its their respective property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiary; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Restricted Subsidiaries in an involuntary case under the any Bankruptcy CodeLaw, which decree or order is not stayed or other similar relief is not granted under any applicable federal federal, provincial, state or state foreign law; or (2) the continuance of any of the following events for sixty forty-five (6045) days unless dismissed, bonded or discharged: (a) an involuntary petition, proceeding or case is commenced against Holdings, Borrower or any of its Restricted Subsidiaries, under any applicable bankruptcy, insolvency insolvency, reorganization or other similar law of any jurisdiction now or hereafter in effecteffect or under any insolvency, arrangement, reorganization, moratorium, receivership, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction now or hereafter in effect (whether at law or equity); or (b) a decree or order of a court for the appointment of a receiver, receiver-manager, administrator, manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Restricted Subsidiaries, or over all or a substantial part of its property, is entered; or (c) an interim receiver, receiver-manager, administrator, manager, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Restricted Subsidiaries, for all or a substantial part of the property of Holdingsof, such Borrower or any such its Restricted Subsidiary; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1) A court enters a decree or order for relief with respect to Holdings, Borrower any Loan Party or any of its Subsidiaries in an involuntary case under the Bankruptcy Codeany applicable bankruptcy, reorganization, insolvency, receivership or other similar law now or hereafter in effect, which decree or order is not stayed or other similar relief is not granted under any applicable federal federal, provincial or state law; or (2) the continuance of any of the following events for sixty (60) 60 days unless dismissed, bonded or discharged: (a) an involuntary case case, petition or proceeding is commenced against Holdings, Borrower any Loan Party or any of its Subsidiaries, under any applicable bankruptcy, reorganization, insolvency or other similar law now or hereafter in effecteffect or under any insolvency, arrangement, reorganization, moratorium, receivership, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction now or hereafter in effect (whether at law or equity); or (b) a decree or order of a court for the appointment of a receiver, receiver-manager, administrator, manager, liquidator, sequestrator, trustee, custodian or other officer fiduciary having similar powers over Holdings, Borrower any Loan Party or any of its Subsidiaries, or over all or a substantial part of its their respective property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiaryappointed; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief with respect to Holdings, Borrower or of any of its Subsidiaries in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawlaw within 60 days; or (2ii) the continuance of any of the following events for sixty (60) 60 days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, Subsidiaries under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having Credit Agreement/Atlantic Tele-Network, Inc. similar powers over Holdings, Borrower or any of its Subsidiaries, Subsidiaries or over all or a substantial part of its property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiaryof its Subsidiaries; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Significant Subsidiaries in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawlaw within 60 days; or (2ii) the continuance of any of the following events for sixty (60) 60 days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Significant Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Significant Subsidiaries, or over all or a substantial part of its property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Significant Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiaryof its Significant Subsidiaries; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief Any Insolvency Event shall occur with respect to Holdingsthe Borrower, Borrower or any of related Obligor, its Subsidiaries Holding Company in an involuntary case under the Bankruptcy CodeInvoluntary Loan Party Bankruptcy, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawlaw unless dismissed within sixty (60) days; or (2ii) Any Insolvency Event involving the occurrence and continuance of any of the following events for sixty (60) days unless dismissed, bonded dismissed or dischargeddischarged within such time: (ax) an involuntary case Involuntary Loan Party Bankruptcy is commenced against Holdingswith respect to the Borrower, Borrower or any of related Obligor, its SubsidiariesHolding Company, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (by) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdingsany the Borrower, Borrower or any of related Obligor, its Subsidiaries, Holding Company or over all or a substantial part of its or their property, is entered; , or (cz) an interim receiver, trustee or other custodian is appointed without the consent of Holdingsthe Borrower, Borrower or any of its Subsidiariesrelated the Obligors or Holding Company, for all or a substantial part of the property of Holdings, Borrower or any such SubsidiaryPerson; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) ---------------------------------------------------- A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawlaw within 60 days; or (2ii) the continuance of any of the following events for sixty (60) 60 days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiaryof its Subsidiaries; oror Credit Agreement/SureWest Communications

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawlaw within sixty (60) days; or (2ii) the continuance of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, Subsidiaries under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, Subsidiaries for all or a substantial part of the property of Holdings, Borrower or any such Subsidiary; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state law; or (2ii) the continuance of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiary; or;

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1) A court ---------------------------------------------------- enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy CodeCode or any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state law; or (2) the continuance of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its their respective property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiary; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawlaw within sixty (60) days; or (2ii) the continuance of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiaryof its Subsidiaries; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1) A court enters a decree or order for relief with respect to Holdings, . Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state law; or (2) the continuance of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiary; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1) A court enters a ---------------------------------------------------- decree or order for relief with respect to Holdings, the Borrower or any Subsidiary of its Subsidiaries Borrower in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state law; or (2) the continuance of any of the following events for sixty ninety (6090) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, the Borrower or any of its Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, the Borrower or any of its Subsidiaries, or over all or a substantial part of its property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, the Borrower or any the affected Subsidiary of its Subsidiaries, Borrower for all or a substantial part of the property of Holdings, the Borrower or any such Subsidiary; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1) A court enters a decree or order for relief with respect to Holdingsany Guarantor, Borrower or any of its Subsidiaries (other than an inactive Subsidiary described on Schedule 4.26) in an involuntary case under the Bankruptcy Codeany applicable bankruptcy, insolvency or other similar law now or hereafter in effect, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state law; or (2) the continuance of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdingsany Guarantor, Borrower or any of its SubsidiariesSubsidiaries (other than an inactive Subsidiary described on Schedule 4.26), under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer fiduciary having similar powers over Holdingsany Guarantor, Borrower or any of its SubsidiariesSubsidiaries (other than an inactive Subsidiary described on Schedule 4.26), or over all or a substantial part of its their respective property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiaryappointed; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries the Obligors or the Guarantors in an involuntary case under the Bankruptcy CodeInvoluntary Bankruptcy, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawlaw unless dismissed within 90 days; or (2ii) the occurrence and continuance of any of the following events for sixty (60) 90 days unless dismissed, bonded dismissed or dischargeddischarged within such time: (ax) an involuntary case is commenced against Holdings, Borrower under the Bankruptcy Code or any of its Subsidiaries, under any other applicable bankruptcy, insolvency or other similar law now or hereafter in effect; , is commenced, in which any of the Obligors or the Guarantors is a debtor or any portion of the Collateral is property of the estate therein, (by) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer official having similar powers over Holdings, Borrower or any of its Subsidiariesthe Obligors or the Guarantors, or over all or a substantial part of its or their property, is entered; , or (cz) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower the Guarantors or any of its Subsidiariesdirect or indirect subsidiaries, as applicable, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiary; orPerson;

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1i) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Code, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state lawlaw within thirty (30) days; or (2ii) the continuance of any of the following events for sixty thirty (6030) days unless dismissed, bonded or discharged: (aA) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, Subsidiaries under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (bB) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its property, is entered; or (cC) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, Subsidiaries for all or a substantial part of the property of Holdings, Borrower or any such Subsidiary; or

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Codeany applicable bankruptcy, insolvency or other similar law now or hereafter in effect, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state law; or (2) the continuance of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its Subsidiaries, Subsidiaries under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, Subsidiaries or over all or a substantial part of its their respective property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiary; ortrustee

Involuntary Bankruptcy; Appointment of Receiver, Etc. (1) A court enters a decree or order for relief with respect to Holdings, Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Codeany applicable bankruptcy, insolvency or other similar law now or hereafter in effect, which decree or order is not stayed or other similar relief is not granted under any applicable federal or state law; or (2) the continuance of any of the following events for sixty (60) days unless dismissed, bonded or discharged: (a) an involuntary case is commenced against Holdings, Borrower or any of its 80 86 Subsidiaries, under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Borrower or any of its Subsidiaries, or over all or a substantial part of its their respective property, is entered; or (c) an interim receiver, trustee or other custodian is appointed without the consent of Holdings, Borrower or any of its Subsidiaries, for all or a substantial part of the property of Holdings, Borrower or any such Subsidiary; or