Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) an involuntary case shall be commenced against any Loan Party or any of their respective Subsidiaries (other than an Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or any of its Subsidiaries other than Immaterial Subsidiaries, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or discharged; or
Appears in 7 contracts
Samples: Credit Agreement (Osmotica Pharmaceuticals PLC), Credit Agreement (Osmotica Pharmaceuticals PLC), Credit Agreement (Osmotica Pharmaceuticals PLC)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party Holdings or any of its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Holdings or any of their respective its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 6 contracts
Samples: Credit Agreement (La Quinta Properties Inc), Credit Agreement (Sealy Corp), Credit Agreement (Dominos Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter enters a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be is granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be is commenced against any Loan Party the Borrower or any of their respective Subsidiaries Subsidiary (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than an Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been is entered; or there shall have occurred occurs the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than its an Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process is issued against any substantial part of the property of the Borrower or any Subsidiary (other than an Immaterial Subsidiary), and any such event described in this clause (ii) shall continue continues for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 6 contracts
Samples: Credit and Guaranty Agreement (Bioventus Inc.), Credit and Guaranty Agreement (Artivion, Inc.), Credit and Guaranty Agreement (Artivion, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party Company or any of its Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Company or any of their respective its Subsidiaries (other than an any Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Company or any of its Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Company or any of its Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Company or any of its Subsidiaries (other than any Immaterial Subsidiary), and any such event described in this clause clauses (i) or (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 6 contracts
Samples: Credit Agreement (Decrane Holdings Co), Credit Agreement (Decrane Aircraft Holdings Inc), Credit Agreement (Decrane Holdings Co)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries Restricted Subsidiary (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawRequirements of Law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party the Borrower or any of their respective Subsidiaries Restricted Subsidiary (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effect; or a decree or order of Law, the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries Restricted Subsidiary (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries Restricted Subsidiary (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; , which, in the case of each of (i) and any such event described in this clause (ii) shall continue ), remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 sixty consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 6 contracts
Samples: Credit Agreement (Victory Capital Holdings, Inc.), Credit Agreement (Victory Capital Holdings, Inc.), Credit Agreement (Victory Capital Holdings, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Borrower or any of its Subsidiaries (other than an Immaterial Subsidiary) Significant Subsidiary in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency, reorganization, liquidation or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Borrower or any of their respective Subsidiaries (other than an Immaterial Subsidiary) Significant Subsidiary under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency, reorganization, liquidation or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, conservator, custodian or other officer having similar powers over any Loan Party Borrower or any of its Subsidiaries other than Immaterial SubsidiariesSignificant Subsidiary, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, conservator or other custodian of any Loan Party Borrower or any of its Subsidiaries (other than its Immaterial Subsidiaries) Significant Subsidiary for all or a substantial part of its property; , and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 6 contracts
Samples: Revolving Credit and Guaranty Agreement (Cit Group Inc), Revolving Credit and Guaranty Agreement (Cit Group Inc), Revolving Credit and Guaranty Agreement (Cit Group Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party the Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawRequirements of Law, which relief is not stayed; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party the Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, administrator, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial material part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial material part of its property; and , which remains, in any such event described in case under this clause (ii) shall continue f), undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 5 contracts
Samples: First Lien Credit Agreement (Shift4 Payments, Inc.), First Lien Credit Agreement (Shift4 Payments, Inc.), First Lien Credit Agreement (Shift4 Payments, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Top Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawRequirements of Law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Top Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Top Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings, the Top Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 5 contracts
Samples: First Lien Credit Agreement (Cotiviti Holdings, Inc.), First Lien Credit Agreement (Cotiviti Holdings, Inc.), Second Lien Credit Agreement (Cotiviti Holdings, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Borrower or any of its Subsidiaries Restricted Subsidiary (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief in respect of Holdings, the Borrower or any Restricted Subsidiary (other than any Immaterial Subsidiary) shall be granted under any applicable federalRequirements of Law, state or local lawwhich relief is not stayed; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Borrower or any of their respective Subsidiaries Restricted Subsidiary (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, administrator, custodian or other officer having similar powers over any Loan Party Holdings, the Borrower or any of its Subsidiaries Restricted Subsidiary (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial material part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings, the Borrower or any of its Subsidiaries Restricted Subsidiary (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial material part of its property, which remains, in any case under this Section 7.01(f), undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days; provided that it is understood and agreed that the occurrence of any such event described in this clause (iif) shall continue for will not result in a Default or Event of Default under this Agreement prior to the expiration of such 60 consecutive days without having been dismissed, vacated, bonded or dischargedday period; or
Appears in 5 contracts
Samples: Credit Agreement (First Watch Restaurant Group, Inc.), Credit Agreement (First Watch Restaurant Group, Inc.), Credit Agreement (Definitive Healthcare Corp.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party the Borrower or any of its Significant Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party the Borrower or any of their respective its Significant Subsidiaries (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, examiner, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries other than Immaterial Significant Subsidiaries, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ their respective property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, examiner or other custodian of any Loan Party the Borrower or any of its Significant Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its their respective property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of the Borrower or any of its Significant Subsidiaries, and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 5 contracts
Samples: Credit Agreement (Hospira Inc), Credit Agreement (Hospira Inc), Bridge Loan Agreement (Hospira Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries other Credit Party (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party the Borrower or any of their respective Subsidiaries other Credit Party (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries other Credit Party (other than an Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries other Credit Party (other than its an Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of the Borrower or any other Credit Party (other than an Immaterial Subsidiary), and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 5 contracts
Samples: Revolving Credit Agreement (Las Vegas Sands Corp), Revolving Credit Agreement (Las Vegas Sands Corp), Revolving Credit Agreement (Las Vegas Sands Corp)
Involuntary Bankruptcy; Appointment of Receiver, Etc. Other than in respect of the UK Loan Parties, (i) A the entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, Intermediate Holdings, CP Holdings LLC, a Borrower or any of its their Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawRequirements of Law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers or any of their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, administrator, examiner, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers or any of its their Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s its or any of its Subsidiaries’ their property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers or any of its their Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbonded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 5 contracts
Samples: Credit Agreement (Concrete Pumping Holdings, Inc.), Credit Agreement (Concrete Pumping Holdings, Inc.), Credit Agreement (Concrete Pumping Holdings, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings, the Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 5 contracts
Samples: Second Lien Credit Agreement (Hayward Holdings, Inc.), First Lien Credit Agreement (Hayward Holdings, Inc.), Term Loan Credit Agreement (PQ Group Holdings Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party the Company or any of its Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state law or local applicable foreign law; or (ii) an involuntary case shall be commenced against any Loan Party the Company or any of their respective its Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and managerinterim receiver, liquidator, sequestrator, trustee, custodian custodian, receiver and manager, administrator, administrative receiver, insolvency practitioner or other officer having similar powers over any Loan Party the Company or any of its Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an a receiver, interim receiver, liquidator, receiver and manager, administrator, administrative receiver, insolvency practitioner, trustee or other custodian of any Loan Party the Company or any of its Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of the Company or any of its Subsidiaries (other than any Immaterial Subsidiary), and any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 4 contracts
Samples: Refinancing Amendment (Hologic Inc), Refinancing Amendment (Hologic Inc), Credit and Guaranty Agreement (Hologic Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of Holdings, any Loan Party Borrower or any of its Subsidiaries Restricted Subsidiary (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, territorial, state or local lawRequirements of Law; or (ii) the commencement of an involuntary case shall be commenced or proceeding against Holdings, any Loan Party Borrower or any of their respective Subsidiaries Restricted Subsidiary (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, interim receiver, liquidator, sequestrator, trustee, monitor, administrator, custodian or other officer having similar powers over Holdings, any Loan Party Borrower or any of its Subsidiaries Restricted Subsidiary (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of Holdings, any Loan Party Borrower or any of its Subsidiaries Restricted Subsidiary (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 4 contracts
Samples: Incremental Amendment to Credit Agreement (Knowlton Development Corp Inc), Credit Agreement (Knowlton Development Corp Inc), Credit Agreement (Knowlton Development Parent, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries Restricted Subsidiary (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief in respect of the Borrower or any Restricted Subsidiary (other than any Immaterial Subsidiary) shall be granted under any applicable federalRequirements of Law, state or local lawwhich relief is not stayed; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party the Borrower or any of their respective Subsidiaries Restricted Subsidiary (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, administrator, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries Restricted Subsidiary (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial material part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries Restricted Subsidiary (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial material part of its property, which remains, in any case under this Section 7.01(f), undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days; provided that it is understood and agreed that the occurrence of any such event described in this clause (iif) shall continue for will not result in a Default or Event of Default under this Agreement prior to the expiration of such 60 consecutive days without having been dismissed, vacated, bonded or dischargedday period; or
Appears in 4 contracts
Samples: Credit Agreement (Cava Group, Inc.), Credit Agreement (Cava Group, Inc.), Credit Agreement (Cava Group, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries (other than an Immaterial Subsidiary or any Escrow Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; , or any other similar relief shall be granted under any applicable federalfederal or state law, state or local law; or (ii) an involuntary case shall be commenced against any Loan Party the Borrower or any of their respective its Subsidiaries (other than an Immaterial Subsidiary or any Escrow Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; , or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries (other than its Immaterial SubsidiariesSubsidiaries or any Escrow Subsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; , or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries (other than its Immaterial SubsidiariesSubsidiaries or any Escrow Subsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or discharged; or;
Appears in 3 contracts
Samples: Incremental Joinder to First Lien Credit Agreement (Post Holdings, Inc.), Second Lien Credit Agreement (Post Holdings, Inc.), First Lien Credit Agreement (Post Holdings, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Holdings or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Holdings or any of their respective its Subsidiaries (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings or any of its Subsidiaries other than its Immaterial Subsidiaries, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings or any of its Subsidiaries (other than its Immaterial Subsidiaries) Subsidiaries for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Holdings or any of its Subsidiaries other than its Immaterial Subsidiaries, and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 3 contracts
Samples: Abl Credit Agreement (Amscan Holdings Inc), Second Lien Credit and Guaranty Agreement (Amscan Holdings Inc), Abl Credit Agreement (Amscan Holdings Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Borrowers or any of its their Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; stayed; or any other similar relief shall be granted under any applicable federal, state or local law; law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Borrowers or any of their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effect; or a decree or order of Law; the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Borrowers or any of its their Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s its property; or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings, the Borrowers or any of its their Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or discharged; days; or
Appears in 3 contracts
Samples: Credit Agreement (SB/RH Holdings, LLC), Credit Agreement (SB/RH Holdings, LLC), Credit Agreement (SB/RH Holdings, LLC)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party or any of their respective its Subsidiaries (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, conservator, custodian or other officer having similar powers over any Loan Party or any of its Subsidiaries other than Immaterial Subsidiaries, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, conservator or other custodian of any Loan Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Loan Party or any of its Subsidiaries, and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 3 contracts
Samples: Credit and Guaranty Agreement (Ascend Wellness Holdings, LLC), Term Loan and Guaranty Agreement (Neogenomics Inc), Credit and Guaranty Agreement
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Parent, Borrower or any of its their respective Subsidiaries (other than an any Immaterial SubsidiarySubsidiaries) in an involuntary case under any Debtor Relief Law now or hereafter in effectInsolvency Law, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawApplicable Law; or (ii) an involuntary case or proceeding (including the filing of any notice of intention in respect thereof) shall be commenced against any Loan Party Parent, Borrower or any of their respective Subsidiaries (other than an any Immaterial SubsidiarySubsidiaries) under any Debtor Relief Insolvency Law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and receiver-manager, administrative receiver, administrator, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Parent, Borrower or any of its their respective Subsidiaries (other than any Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, custodian or other custodian similar officer of any Loan Party Parent, Borrower or any of its their respective Subsidiaries (other than its any Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Parent, Borrower or any of their respective Subsidiaries (other than any Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 3 contracts
Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.), Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.), Credit and Guaranty Agreement (Valeant Pharmaceuticals International)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Holdings or any of its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) in an involuntary case under any Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Holdings or any of their respective its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) under any Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 3 contracts
Samples: Credit and Guaranty Agreement (Terraform Global, Inc.), Credit and Guaranty Agreement (TerraForm Power, Inc.), Credit and Guaranty Agreement (TerraForm Power, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Parent Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Parent Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Parent Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings, the Parent Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause , which remains undismissed, unvacated, unbounded or unstayed pending appeal for sixty (ii60) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 3 contracts
Samples: Term Loan Credit Agreement (Ecovyst Inc.), Term Loan Credit Agreement (Ecovyst Inc.), Term Loan Credit Agreement (PQ Group Holdings Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Credit Party or any of its Restricted Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Credit Party or any of their respective its Restricted Subsidiaries (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Credit Party or any of its Restricted Subsidiaries (other than an Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim a receiver, trustee liquidator, sequestrator, trustee, custodian or other custodian officer of any Loan Credit Party or any of its Restricted Subsidiaries (other than its an Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Credit Party or any of its Restricted Subsidiaries (other than an Immaterial Subsidiary), and any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 3 contracts
Samples: Credit and Guaranty Agreement (Priority Technology Holdings, Inc.), Credit and Guaranty Agreement (Priority Technology Holdings, Inc.), Credit and Guaranty Agreement (Priority Technology Holdings, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Holdings or any of its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Holdings or any of their respective its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 3 contracts
Samples: Credit and Guaranty Agreement (Vca Antech Inc), Credit and Guaranty Agreement (Vca Antech Inc), Credit and Guaranty Agreement (Vca Antech Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Parent Loan Party Guarantor, Holdings, the Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawRequirements of Law, which relief is not stayed; or (ii) the commencement of an involuntary case shall be commenced against any Parent Loan Party Guarantor, Holdings, the Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, administrator, custodian or other officer having similar powers over any Parent Loan Party Guarantor, Holdings, the Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial material part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Parent Loan Party Guarantor, Holdings, the Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial material part of its property; and , which remains, in any such event described in case under this clause (ii) shall continue f), undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 3 contracts
Samples: Credit Agreement (ATI Physical Therapy, Inc.), Credit Agreement (ATI Physical Therapy, Inc.), Credit Agreement (ATI Physical Therapy, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Lead Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Lead Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, administrative receiver, administrator, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Lead Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of its property; (iii) with respect to any such UK Loan Party’s , the suspension of payments, order for relief, a moratorium of any indebtedness, winding–up, dissolution, administration or any reorganisation (whether by way of its Subsidiaries’ propertyvoluntary or involuntary arrangement, shall have been enteredscheme of arrangement or otherwise); or there shall have occurred (iv) the involuntary appointment of an interim receiver, trustee trustee, administrative receiver, administrator or other custodian of any Loan Party Holdings, the Lead Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described , which in this clause the case of a Loan Party other than the UK Loan Parties remains undismissed, unvacated, unbounded or unstayed pending appeal for sixty (ii60) shall continue for 60 consecutive days without having been dismissedor in the case of a UK Loan Party such action or proceeding is being contested in good faith and is not discharged, vacated, bonded stayed or dischargeddismissed within 21 days of commencement; or
Appears in 2 contracts
Samples: Abl Credit Agreement (Ecovyst Inc.), Abl Credit Agreement (PQ Group Holdings Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Holdings, the Borrower or any of its Subsidiaries (other than any Immaterial Subsidiary or any Subsidiary that could at such time, upon designation by Holdings, become an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency, corporate or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, territorial or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Holdings, the Borrower or any of their respective its Subsidiaries (other than any Immaterial Subsidiary or any Subsidiary that could at such time, upon designation by Holdings, become an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency, corporate or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, monitor, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Borrower or any of its Subsidiaries (other than any Immaterial SubsidiariesSubsidiary or any Subsidiary that could at such time, upon designation by Holdings, become an Immaterial Subsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, receiver and manager, trustee or other custodian of any Loan Party Holdings, the Borrower or any of its Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary or any Subsidiary that could at such time, upon designation by Holdings, become an Immaterial Subsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or discharged; or
Appears in 2 contracts
Samples: Secured Seller Note Agreement (American Water Works Company, Inc.), Secured Seller Note Agreement (American Water Works Company, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Holdings, the Borrower or any of its Subsidiaries (other than an Immaterial Subsidiary) Restricted Subsidiary that is a Material Subsidiary in an involuntary case under any Debtor Relief Law now or hereafter in effectLaw, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local foreign law; or (ii) an involuntary case shall be commenced against any Loan Party Holdings, the Borrower or any of their respective Subsidiaries (other than an Immaterial Subsidiary) Restricted Subsidiary that is a Material Subsidiary under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of a court having jurisdiction in the premises for the involuntary appointment of a an interim receiver, receiver and managerreceiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Borrower or any of its Subsidiaries other than Immaterial SubsidiariesRestricted Subsidiary that is a Material Subsidiary, or over all or a substantial part of any such Loan Party’s or any substantially all of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee receiver, liquidator, sequestrator, trustee, custodian or other custodian of any Loan Party officer having similar powers over Holdings, the Borrower or any of its Subsidiaries (other than its Immaterial Subsidiaries) for Restricted Subsidiary that is a Material Subsidiary, or over all or a substantial part substantially all of its property; or a warrant of attachment, execution or similar process shall have been issued against all or substantially all of the property of Holdings, the Borrower or any other Restricted Subsidiary that is a Material Subsidiary, and any such event described in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded dismissed or discharged; or1095171012\7\AMERICAS
Appears in 2 contracts
Samples: Abl Credit and Guaranty Agreement (PetIQ, Inc.), Abl Credit and Guaranty Agreement (PetIQ, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party or any of its their Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party or any of their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, interim receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, monitor, custodian or other officer having similar powers over any Loan Party or any of its their Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred (iii) the involuntary appointment of an interim receiver, trustee trustee, monitor or other custodian of any Loan Party or any of its their Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause , which remains undismissed, unvacated, unbounded or unstayed pending appeal for sixty (ii60) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 2 contracts
Samples: Abl Credit Agreement (Hillman Solutions Corp.), Abl Credit Agreement (Hillman Solutions Corp.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Credit Party or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any the Bankruptcy Code or Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Credit Party or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any the Bankruptcy Code or other Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Credit Party or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Credit Party or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Credit Party or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary), and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 2 contracts
Samples: Credit Agreement (Sun Communities Inc), Credit Agreement (Sun Communities Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries (other than an any Immaterial Domestic Subsidiary) in an involuntary case under any Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party the Borrower or any of their respective its Subsidiaries (other than an any Immaterial Domestic Subsidiary) under any Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries (other than any Immaterial SubsidiariesDomestic Subsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries (other than its any Immaterial SubsidiariesDomestic Subsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of the Borrower or any of its Subsidiaries (other than any Immaterial Domestic Subsidiary), and any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Hologic Inc), Credit and Guaranty Agreement (Gen Probe Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party Borrower or any of its Subsidiaries (other than an Immaterial Subsidiary) Subsidiary Guarantor in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or or
(ii) an involuntary case shall be commenced against any Loan Party Borrower or any of their respective Subsidiaries (other than an Immaterial Subsidiary) Subsidiary Guarantor under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Borrower or any of its Subsidiaries other than Immaterial SubsidiariesSubsidiary Guarantor, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Borrower or any of its Subsidiaries (other than its Immaterial Subsidiaries) Subsidiary Guarantor for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Borrower or any Subsidiary Guarantor, and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 2 contracts
Samples: Credit Agreement (Isle of Capri Casinos Inc), Credit Agreement (Isle of Capri Casinos Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party ChipPAC or any of its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) in an involuntary case under any Debtor Relief Law now or hereafter in effectBankruptcy Law, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawBankruptcy Law; or (ii) an involuntary case shall be commenced against any Loan Party ChipPAC or any of their respective its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) under any Debtor Relief Law now or hereafter in effectBankruptcy Law; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party ChipPAC or any of its Subsidiaries (other than Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party ChipPAC or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of ChipPAC or any of its Subsidiaries (other than Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 2 contracts
Samples: Credit Agreement (Chippac Inc), Credit Agreement (Chippac LTD)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Borrowers or any of its their Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Borrowers or any of their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Borrowers or any of its their Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings, the Borrowers or any of its their Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 2 contracts
Samples: Credit Agreement (SB/RH Holdings, LLC), Credit Agreement (SB/RH Holdings, LLC)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Credit Party, any Subsidiary or any of its Subsidiaries (other than an Immaterial Subsidiary) Owner Pledgor in an involuntary case under any the Bankruptcy Code or Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Credit Party, any Subsidiary or any of their respective Subsidiaries (Owner Pledgor under the Bankruptcy Code or other than an Immaterial Subsidiary) under any Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Credit Party, any Subsidiary or any of its Subsidiaries other than Immaterial SubsidiariesOwner Pledgor, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Credit Party, any Subsidiary or any of its Subsidiaries (other than its Immaterial Subsidiaries) Owner Pledgor for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Credit Party, any Subsidiary or any Owner Pledgor, and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacatedstayed, bonded or discharged; or
Appears in 2 contracts
Samples: Credit Agreement (MSP Recovery, Inc.), Credit Agreement (MSP Recovery, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, Intermediate Holdings, the Lead Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, Intermediate Holdings, the Lead Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, interim receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, monitor, custodian or other officer having similar powers over any Loan Party Holdings, Intermediate Holdings, the Lead Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred (iii) the involuntary appointment of an interim receiver, trustee trustee, monitor or other custodian of any Loan Party Holdings, Intermediate Holdings, the Lead Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 2 contracts
Samples: Credit Agreement (Hillman Companies Inc), Abl Credit Agreement (Hillman Companies Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Credit Party or any of its Subsidiaries (other than an Immaterial Subsidiary) OZ Subsidiary in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Credit Party or any of their respective Subsidiaries (other than an Immaterial Subsidiary) OZ Subsidiary under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Credit Party or any of its Subsidiaries other than Immaterial SubsidiariesOZ Subsidiary, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Credit Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) OZ Subsidiary for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Credit Party or any OZ Subsidiary, and any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Och-Ziff Capital Management Group LLC), Credit and Guaranty Agreement (Och-Ziff Capital Management Group LLC)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Borrowers or any of its their Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Borrowers or any of their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Borrowers or any of its their Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings, the Borrowers or any of its their Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 2 contracts
Samples: Credit Agreement (SB/RH Holdings, LLC), Credit Agreement (Spectrum Brands Holdings, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A ----------------------------------------------------- court of competent jurisdiction shall enter enters a decree or order for relief in with respect of any Loan Party or to Borrower, any of its Restricted Subsidiaries (other than an Immaterial Subsidiary) or Vendor Guarantor in an involuntary case under any Debtor Relief Law now or hereafter in effectthe Bankruptcy Code, which decree or order is not stayed; stayed or any other similar relief shall be is not granted under any applicable federal, federal or state or local lawlaw within forty-five (45) days; or (ii) the continuance of any of the following events for forty-five (45) days unless dismissed, bonded or discharged: (a) an involuntary case shall be is commenced against any Loan Party or Borrower, any of their respective its Restricted Subsidiaries (other than an Immaterial Subsidiary) or Vendor Guarantor, under any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (b) a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or Borrower, any of its Restricted Subsidiaries other than Immaterial Subsidiariesor Vendor Guarantor, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been is entered; or there shall have occurred the involuntary appointment of (c) an interim receiver, trustee or other custodian is appointed without the consent of any Loan Party or Borrower, any of its Restricted Subsidiaries (other than its Immaterial Subsidiaries) or Vendor Guarantor, for all or a substantial part of its property; and the property of Borrower, any such event described in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded Restricted Subsidiary or dischargedVendor Guarantor; or
Appears in 2 contracts
Samples: Credit Agreement (Us Unwired Inc), Credit Agreement (Unwired Telecom Corp)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of Holdings, any Loan Party Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayedstayed (or the declaration of or any procedure or step is taken in relation to a moratorium in respect of the Indebtedness of any English Group Member (other than an Immaterial Subsidiary)); or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case shall be commenced against Holdings, any Loan Party Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of (or in respect of any English Group Member of, any corporate action, legal proceeding or other procedure or step is taken in relation to the appointment of) a receiver, an administrative receiver, an administrator, a receiver and manager, a compulsory manager, a (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, any Loan Party Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of its property, or (in respect of an English Group Member (other than an Immaterial Subsidiary) the enforcement of any such Loan Party’s or security over any of its Subsidiaries’ property, shall have been enteredassets); or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of Holdings, any Loan Party Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 2 contracts
Samples: Credit Agreement (Indivior PLC), Credit Agreement (Indivior PLC)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of Holdings, the Buyer, any Loan Party Borrower or any of its Subsidiaries (other than an Immaterial Subsidiary) Significant Subsidiary in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, territorial, state or local lawRequirement of Law; or (ii) the commencement of an involuntary case shall be commenced against Holdings, the Buyer, any Loan Party Borrower or any of their respective Subsidiaries (other than an Immaterial Subsidiary) Significant Subsidiary under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order 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 Loan Party Borrower or any of its Subsidiaries other than Immaterial SubsidiariesSignificant Subsidiary, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of Holdings, the Buyer, any Loan Party Borrower or any of its Subsidiaries (other than its Immaterial Subsidiaries) Significant Subsidiary for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 2 contracts
Samples: Credit Agreement (Certara, Inc.), Credit Agreement (Certara, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party the Borrower or any Subsidiary of its Subsidiaries (other than an Immaterial Subsidiary) the Borrower in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or or
(ii) an involuntary case shall be commenced against any Loan Party the Borrower or any Subsidiary of their respective Subsidiaries (other than an Immaterial Subsidiary) the Borrower under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, conservator, custodian or other officer having similar powers over any Loan Party the Borrower or any Subsidiary of its Subsidiaries other than Immaterial Subsidiariesthe Borrower, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall Table of Contents have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any Subsidiary of its Subsidiaries (other than its Immaterial Subsidiaries) the Borrower for all or a substantial part of its property; the property of the Borrower or any Subsidiaries of the Borrower, and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit Agreement (Mosaic Co)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A An involuntary case shall be commenced against any Loan Party and the petition shall not be dismissed, stayed, bonded or discharged within sixty (60) days after commencement of the case; or a court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case case, under any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter hereinafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state state, local or local foreign law; or (ii) an involuntary case shall be commenced against the board of directors of any Loan Party or partner of any Loan Party (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of their respective Subsidiaries the foregoing; or
(other than an Immaterial Subsidiaryii) under any Debtor Relief Law now or hereafter in effect; or a A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or any of its Subsidiaries other than Immaterial Subsidiaries, or over all or a substantial part of any the assets of such Loan Party’s or any of its Subsidiaries’ property, Party shall have been be entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; the assets of such Loan Party shall be appointed or a war- rant of attachment, execution or similar process against any substantial part of the assets of such Loan Party shall be issued and any such event described in this clause (ii) shall continue for 60 consecutive days without having been not be stayed, dismissed, vacated, bonded or dischargeddischarged within sixty (60) days after 119 entry, appointment or issuance; or the board of directors of any Loan Party or partner of any Loan Party (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of the foregoing; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Borrower or any of its Subsidiaries (other than an any Immaterial SubsidiarySubsidiaries) in an involuntary case under any Debtor Relief Law now or hereafter in effectInsolvency Law, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawApplicable Law; or (ii) an involuntary case or proceeding (including the filing of any notice of intention in respect thereof) shall be commenced against any Loan Party Borrower or any of their respective its Subsidiaries (other than an any Immaterial SubsidiarySubsidiaries) under any Debtor Relief Insolvency Law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and receiver-manager, administrative receiver, administrator, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Borrower or any of its Subsidiaries (other than any Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, custodian or other custodian similar officer of any Loan Party Borrower or any of its Subsidiaries (other than its any Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Borrower or any of its Subsidiaries (other than any Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter enters a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be is granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be is commenced against any Loan Party the Borrower or any of their respective Subsidiaries Subsidiary (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than an Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been is entered; or there shall have occurred occurs the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than its an Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process is issued against any substantial part of the property of the Borrower or any Subsidiary (other than an Immaterial Subsidiary), and any such event described in this clause (ii) shall continue continues for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; oror 155722702_14171748492_2
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Holdings, the Borrower or any of its Subsidiaries (other than an Immaterial Subsidiary) Restricted Subsidiary that is a Material Subsidiary in an involuntary case under any Debtor Relief Law now or hereafter in effectLaw, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local foreign law; or (ii) an involuntary case shall be commenced against any Loan Party Holdings, the Borrower or any of their respective Subsidiaries (other than an Immaterial Subsidiary) Restricted Subsidiary that is a Material Subsidiary under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of a court having jurisdiction in the premises for the involuntary appointment of a an interim receiver, receiver and managerreceiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Borrower or any of its Subsidiaries other than Immaterial SubsidiariesRestricted Subsidiary that is a Material Subsidiary, or over all or a substantial part of any such Loan Party’s or any substantially all of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee receiver, liquidator, sequestrator, trustee, custodian or other custodian of any Loan Party officer having similar powers over Holdings, the Borrower or any of its Subsidiaries (other than its Immaterial Subsidiaries) for Restricted Subsidiary that is a Material Subsidiary, or over all or a substantial part substantially all of its property; or a warrant of attachment, execution or similar process shall have been issued against all or substantially all of the property of Holdings, the Borrower or any other Restricted Subsidiary that is a Material Subsidiary, and any such event described in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded dismissed or discharged; or;
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party the Borrower or any Subsidiary of its Subsidiaries (other than an Immaterial Subsidiary) the Borrower in an involuntary case under the Bankruptcy Code or under any other applicable Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or or
(ii) an involuntary case shall be commenced against any Loan Party the Borrower or any Subsidiary of their respective Subsidiaries (other than an Immaterial Subsidiary) the Borrower under the Bankruptcy Code or under any other applicable Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, conservator, custodian or other officer having similar powers over any Loan Party the Borrower or any Subsidiary of its Subsidiaries other than Immaterial Subsidiariesthe Borrower, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim CHAR1\1985879v4 receiver, trustee or other custodian of any Loan Party the Borrower or any Subsidiary of its Subsidiaries (other than its Immaterial Subsidiaries) the Borrower for all or a substantial part of its property; the property of the Borrower or any Subsidiaries of the Borrower, and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit Agreement (Mosaic Co)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Credit Party or any of its Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any the Bankruptcy Code or Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Credit Party or any of their respective its Subsidiaries (other than an any Immaterial Subsidiary) under any the Bankruptcy Code or other Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Credit Party or any of its Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Credit Party or any of its Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Credit Party or any of its Subsidiaries (other than any Immaterial Subsidiary), and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Material Project Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter in effect, including, without limitation, the Bankruptcy Code, which decree or order is not stayed; provided that, with respect to the Persons included in clause (b) of the definition of Material Project Party, any such event shall not constitute an Event of Default if (A) such Person is replaced with Qualified Replacement Parties under all Major Project Documents to which such Material Project Party is a party, and such Qualified Replacement Parties assume all material obligations of such Major Project Party under such Major Project Documents or any other similar relief shall be granted under any (B) all Major Project Documents to which such Major Project Party is party are replaced with another agreement or agreements with Qualified Replacement Parties on terms substantially as favorable to the applicable federalSubject Company as the terms of such replaced Major Project Document, state or local lawin each case, within 90 days after such event and no Restricted Payments are made during such time; or or
(ii) an involuntary case shall be commenced against any Loan Material Project Party or any of their respective Subsidiaries (other than an Immaterial Subsidiary) under any Debtor Relief applicable bankruptcy, insolvency or similar Law now or hereafter in effect, including, without limitation, the Bankruptcy Code; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or any of its Subsidiaries other than Immaterial Subsidiariessuch Material Project Party, or over all or a substantial part of any such Loan PartyPerson’s or any of its Subsidiaries’ respective property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Material Project Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its such Person’s respective property; or the issuance of a warrant of attachment, execution or similar process against any substantial part of the respective property of such Person; and the continuance of any such event events described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been unless vacated, dismissed, vacatedbonded, bonded stayed or discharged; orprovided that, with respect to the Persons included in clause (b) of the definition of Material Project Party, any such event shall not constitute an Event of Default if (A) such Person is replaced with Qualified Replacement Parties under all Major Project Documents to which such Material Project Party is a party, and such Qualified Replacement Parties assume all material obligations of such Major Project Party under such Major Project Documents or (B) all Major Project Documents to which such Major Project Party is party are replaced with another agreement or agreements with Qualified Replacement Parties on terms substantially as favorable to the applicable Subject Company as the terms of such replaced Major Project Document, in each case, within 90 days after the completion of such 60 day continuance following the occurrence of such event and no Restricted Payments are made during such time.
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of Holdings, any Loan Party Borrower or any of its their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, state or local law; or (ii) the commencement of an involuntary case shall be commenced against Holdings, any Loan Party Borrower or any of their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, interim receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, monitor, custodian or other officer having similar powers over Holdings, any Loan Party Borrower or any of its their respective Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred (iii) the involuntary appointment of an interim receiver, trustee trustee, monitor or other custodian of Holdings, any Loan Party Borrower or any of its their respective Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause , which remains undismissed, unvacated, unbounded or unstayed pending appeal for sixty (ii60) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party the Partnership or any of its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) in an involuntary case under any Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party the Partnership or any of their respective its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) under any Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Partnership or any of its Subsidiaries (other than Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Partnership or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of the Partnership or any of its Subsidiaries (other than Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit and Guaranty Agreement (8point3 Energy Partners LP)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of Holdings, Company, Xxxxx-Xxxxxxxx, any Loan Party Additional Domestic Subsidiary Borrower, any Offshore Borrower or any of its their respective Material Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter in effecteffect (whether in the United States of America, Australia, Canada, the Netherlands, Switzerland or any other jurisdiction), which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state law (other than a decree or local law; order for the dissolution or split-up referred to in subsection 7.9) or (ii) an involuntary case shall be is commenced against Holdings, Company, Xxxxx-Xxxxxxxx, any Loan Party Additional Domestic Subsidiary Borrower, any Offshore Borrower or any of their respective Material Subsidiaries (other than an Immaterial Subsidiary) under any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter in effecteffect (whether in the United States of America, Australia, Canada, the Netherlands, Switzerland or any other jurisdiction); or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and receiver-manager, liquidator, sequestrator, trustee, custodian custodian, administrator, administrative receiver or other similar officer having similar powers over Holdings, Company, Xxxxx-Xxxxxxxx, any Loan Party Additional Domestic Subsidiary Borrower, any Offshore Borrower or any of its Subsidiaries other than Immaterial their respective Material Subsidiaries, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee receiver-manager, trustee, administrator, administrative receiver or other similar custodian of Holdings, Company, Xxxxx-Xxxxxxxx, any Loan Party Additional Domestic Subsidiary Borrower, any Offshore Borrower or any of its their respective Material Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or the issuance of a warrant of attachment, execution or similar process against any substantial part of the property of Holdings, Company, Xxxxx-Xxxxxxxx, any Additional Domestic Subsidiary Borrower, any Offshore Borrower or any of their respective Material Subsidiaries, and the continuance of any such event described events in this clause subpart (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party of Holdings or any of its Subsidiaries (other than an Immaterial Subsidiaryinactive Subsidiary identified as such in Schedule 5.1 annexed hereto (other than BDI and BPI) whose aggregate assets and annual revenues do not exceed $500,000 and $500,000, respectively, and whose financial condition does not adversely affect any other Loan Party ("INSIGNIFICANT SUBSIDIARY")) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party of Holdings or any of their respective its Subsidiaries (other than an Immaterial Insignificant Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party of Holdings or any of its Subsidiaries (other than Immaterial Subsidiariesan Insignificant Subsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party of Holdings or any of its Subsidiaries (other than its Immaterial Subsidiariesan Insignificant Subsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any of Holdings or any of its Subsidiaries (other than an Insignificant Subsidiary), and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Borrower or any of its Subsidiaries (other than an any Immaterial SubsidiarySubsidiaries) in an involuntary case under any Debtor Relief Law now or hereafter in effectInsolvency Law, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawApplicable Law; or (ii) an involuntary case or proceeding (including the filing of any notice of intention in respect thereof) shall be commenced against any Loan Party Borrower or any of their respective its Subsidiaries (other than an any Immaterial SubsidiarySubsidiaries) under any Debtor Relief Insolvency Law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and receiver-manager, administrative receiver, administrator, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Borrower or any of its Subsidiaries (other than any Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, custodian or other custodian similar officer of any Loan Party Borrower or any of its Subsidiaries (other than its any Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Borrower or any of its Subsidiaries (other than any Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; oror CG&R Draft Last Saved: 12/21/201201/23/2013 11:03 am 8950852v42:57 pm 8597568v15
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Borrower or any of its Subsidiaries (other than an Immaterial Subsidiary) Significant Subsidiary in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency, reorganization, liquidation or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Borrower or any of their respective Subsidiaries (other than an Immaterial Subsidiary) Significant Subsidiary under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency, reorganization, liquidation or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, conservator, custodian or other officer having similar powers over any Loan Party Borrower or any of its Subsidiaries other than Immaterial SubsidiariesSignificant Subsidiary, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, conservator or other custodian of any Loan Party Borrower or any of its Subsidiaries (other than its Immaterial Subsidiaries) Significant Subsidiary for all or a substantial part of its property; , and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Cit Group Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party the Borrower or any Subsidiary of its Subsidiaries (other than an Immaterial Subsidiary) the Borrower in an involuntary case under the Bankruptcy Code or under any other applicable Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or or
(ii) an involuntary case shall be commenced against any Loan Party the Borrower or any Subsidiary of their respective Subsidiaries (other than an Immaterial Subsidiary) the Borrower under the Bankruptcy Code or under any other applicable Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, conservator, custodian or other officer having similar powers over any Loan Party the Borrower or any Subsidiary of its Subsidiaries other than Immaterial Subsidiariesthe Borrower, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any Subsidiary of its Subsidiaries (other than its Immaterial Subsidiaries) the Borrower for all or a substantial part of its property; the property of the Borrower or any Subsidiaries of the Borrower, and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit Agreement (Mosaic Co)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter enters a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be is granted under any applicable federal, state or local law; or (ii) an involuntary case shall be is commenced against any Loan Party the Borrower or any of their respective Subsidiaries Subsidiary (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than an Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been is entered; or there shall have occurred occurs the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than its an Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process is issued against any substantial part of the property of the Borrower or any Subsidiary (other than an Immaterial Subsidiary), and any such event described in this clause (ii) shall continue continues for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Abitibi Entity (other than Abitibi Entities that (A) are not Credit Parties, (B) are not Augusta Newsprint, Manicouagan Power Company, Abitibi-Consolidated Hydro Inc. or any of its their respective Subsidiaries, (C) own no more than 1% of the Consolidated Net Tangible Assets, either individually or in the aggregate with all other such Insignificant Subsidiaries, and (D) have no more than 1% of the consolidated combined total revenues of the Abitibi Entities for the most recently ended twelve-month period, either individually or in the aggregate with all other such Insignificant Subsidiaries (other than each, an Immaterial "Insignificant Subsidiary" and, collectively, the "Insignificant Subsidiaries")) in an involuntary case or proceeding under any Debtor Relief Law now or hereafter in effectInsolvency Law, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local provincial law; or (ii) an involuntary case or proceeding (including the filing of any notice of intention in respect thereof) shall be commenced against any Loan Party or any of their respective Subsidiaries Abitibi Entity (other than an Immaterial Insignificant Subsidiary) under any Debtor Relief Law now or hereafter in effectInsolvency Law; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and receiver-manager, administrative receiver, administrator, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or any of its Subsidiaries Abitibi Entity (other than Immaterial Subsidiariesan Insignificant Subsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, custodian, or other custodian similar officer of any Loan Party or any of its Subsidiaries Abitibi Entity (other than its Immaterial Subsidiariesan Insignificant Subsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Abitibi Entity (other than an Insignificant Subsidiary), and (except in respect of any UK Credit Party) any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit and Guaranty Agreement (AbitibiBowater Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Parent Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Parent Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Parent Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings, the Parent Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 1 contract
Samples: Term Loan Credit Agreement (PQ Group Holdings Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of Holdings, Intermediate Holdings, the Lead Borrower or any of itsany Loan Party or any of its their Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, state or local law; or (ii) the commencement of an involuntary case shall be commenced against Holdings, Intermediate Holdings, the Lead Borrower or any of itsany Loan Party or any of their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, interim receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, monitor, custodian or other officer having similar powers over any Loan Party Holdings, Intermediate Holdings, the Lead Borrower or any of its itsany Loan Party any of their Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred (iii) the involuntary appointment of an interim receiver, trustee trustee, monitor or other custodian of Holdings, Intermediate Holdings, the Lead Borrower or any of itsany Loan Party or any of its their Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause , which remains undismissed, unvacated, unbounded or unstayed pending appeal for sixty (ii60) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party the Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party the Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) a. A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party Holdings or any of its Subsidiaries (other than an Immaterial Subsidiaryinactive Subsidiary identified as such in Schedule 5.1 annexed hereto whose aggregate assets and annual revenues do not exceed $1,000,000 and $1,000,000, respectively, and whose financial condition does not adversely affect any other Loan Party ("INSIGNIFICANT SUBSIDIARY")) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Holdings or any of their respective its Subsidiaries (other than an Immaterial Insignificant Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings or any of its Subsidiaries (other than Immaterial Subsidiariesan Insignificant Subsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings or any of its 139 Subsidiaries (other than its Immaterial Subsidiariesan Insignificant Subsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Holdings or any of its Subsidiaries (other than an Insignificant Subsidiary), and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings, the Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property, which remains undismissed, unvacated, unbounded or unstayed pending appeal for sixty (60) consecutive days; and any such event described in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or discharged; or129590608_2#96809902v9
Appears in 1 contract
Samples: First Lien Credit Agreement (Hayward Holdings, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Credit Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under any the Bankruptcy Code or Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Credit Party or any of their respective its Subsidiaries (other than an any Immaterial Subsidiary) under any the Bankruptcy Code or other Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Credit Party or any of its Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Credit Party or any of its Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Credit Party or any of its Subsidiaries (other than any Immaterial Subsidiary), and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit Agreement (Earthlink Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries Subsidiary Guarantor (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief in respect of the Borrower or any Subsidiary Guarantor (other than any Immaterial Subsidiary) shall be granted under any applicable federal, state or local lawRequirements of Law, which relief is not stayed; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party the Borrower or any of their respective Subsidiaries Subsidiary Guarantor (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, administrator, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries Subsidiary Guarantor (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial material part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries Subsidiary Guarantor (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial material part of its property, which remains, in any case under this Section 7.01(f), undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days; provided that it is understood and agreed that the occurrence of any such event described in this clause (iif)(ii) shall continue for will not result in a Default or Event of Default under this Agreement prior to the expiration of such 60 consecutive days without having been dismissed, vacated, bonded or dischargedday period; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or or
(ii) an An involuntary case shall be commenced against any Loan Party or any of their respective its Subsidiaries (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or any of its Subsidiaries other than Immaterial Subsidiaries, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Loan Party or any of its Subsidiaries, and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Holdings, the Borrower or any of its Subsidiaries (other than an Immaterial Subsidiary) Restricted Subsidiary that is a Material Subsidiary in an involuntary case or proceeding under any Debtor Relief Law now or hereafter in effectLaws, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local other applicable law; or (ii) an involuntary case or proceeding shall be commenced against any Loan Party Holdings, the Borrower or any of their respective Subsidiaries (other than an Immaterial Subsidiary) Restricted Subsidiary that is a Material Subsidiary under any Debtor Relief Law now or hereafter in effectLaws; or a decree or order of a court having jurisdiction in the premises for the involuntary appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Borrower or any of its Subsidiaries other than Immaterial SubsidiariesRestricted Subsidiary that is a Material Subsidiary, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee liquidator, sequestrator, trustee, custodian or other custodian of any Loan Party officer having similar powers over Holdings, the Borrower or any of its Subsidiaries (other than its Immaterial Subsidiaries) for Restricted Subsidiary that is a Material Subsidiary, or over all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against all or a substantial part of the property of Holdings, the Borrower or any Restricted Subsidiary that is a Material DMFIRM #406105327 v2 185 Subsidiary, and any such event described in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded dismissed or discharged; or;
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party or any of its their Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party or any of their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or any of its their Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred (iii) the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party or any of its their Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause , which remains undismissed, unvacated, unbounded or unstayed pending appeal for sixty (ii60) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 1 contract
Samples: Term Loan Credit Agreement (Hillman Solutions Corp.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Holdings or any of its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) in an involuntary case under any Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Holdings or any of their respective its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) under any Debtor Relief Law Laws now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Holdings or any of its Subsidiaries (other than Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit and Guaranty Agreement (TerraForm Power, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party the Parent or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case or proceeding under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state state, provincial, territorial, local or local lawforeign Requirements of Law, which relief is not stayed; or (ii) the commencement of an involuntary case shall be commenced or proceeding against any Loan Party the Parent or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, interim receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian monitor, custodian, administrator, or other officer having similar powers over any Loan Party the Parent or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial material part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, monitor, administrator or other custodian of any Loan Party the Parent or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial material part of its property; and , which remains, in any such event described in case under this clause (iif), in the case of an Obligor (other than a U.K. Domiciled Obligor) shall continue undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissedor, vacatedin the case of a U.K. Domiciled Obligor, bonded such petition is a winding up petition which is not frivolous or vexatious and is not discharged, stayed or dismissed within 14 days of commencement; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A An involuntary case shall be commenced against the Borrower or TMC or any of their Subsidiaries or Affiliates to which individually or in the aggregate as to such Subsidiaries and Affiliates more than $50,000,000 of the Capitalization Value is attributable, and the petition shall not be dismissed, stayed or discharged within sixty (60) days after commencement of the case; or a court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party the Borrower or TMC or any of its their respective Subsidiaries (other than an Immaterial Subsidiary) or Affiliates in an involuntary case case, under any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter hereinafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state state, local or local foreign law; or the board of directors of TMC or the partners of the Borrower or the board of directors, partners or similar manager of any of TMC's or the Borrower's Subsidiaries or Affiliates to which individually or in the aggregate as to such Subsidiaries and Affiliates more than $50,000,000 of the Capitalization Value is attributable (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of the foregoing.
(ii) an involuntary case shall be commenced against any Loan Party or any of their respective Subsidiaries (other than an Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or TMC or any of its their respective Subsidiaries other or Affiliates to which individually or in the aggregate as to such Subsidiaries and Affiliates more than Immaterial Subsidiaries$50,000,000 of the Capitalization Value is attributable, or over all or a substantial part of the Property of any such Loan Party’s of TMC, the Borrower or any of its Subsidiaries’ property, such Subsidiaries or Affiliates shall have been be entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party of TMC, the Borrower or any of its such Subsidiaries (other than its Immaterial Subsidiaries) for or Affiliates or of all or a substantial part of its property; the Property of any of TMC, the Borrower or any of such Subsidiaries or Affiliates shall be appointed or a warrant of attachment, execution or similar process against any substantial part of the Property of any of TMC, the Borrower or any of such Subsidiaries or Affiliates shall be issued and any such event described in this clause (ii) shall continue for 60 consecutive days without having been not be stayed, dismissed, vacated, bonded or dischargeddischarged within sixty (60) days after entry, appointment or issuance; oror the respective board of directors of any of TMC, the Borrower or partners of the Borrower or the board of directors, partners or similar manager of TMC or any of the Borrowers' or TMC's Subsidiaries or Affiliates to which individually or in the aggregate as to such Subsidiaries and Affiliates more than $50,000,000 of the Capitalization Value is attributable (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of the foregoing.
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter enters a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be is granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be is commenced against any Loan Party the Borrower or any of their respective Subsidiaries Subsidiary (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than an Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been is entered; or there shall have occurred occurs the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than its an Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process is issued against any substantial part of the property of the Borrower or any Subsidiary (other than an Immaterial Subsidiary), and any such event described in this clause (ii) shall continue continues for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Credit Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under any the Bankruptcy Code or Debtor Relief Law Laws now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Credit Party or any of their respective its Subsidiaries (under the Bankruptcy Code or other than an Immaterial Subsidiary) under any Debtor Relief Law Laws now or hereafter in effect, and any such event described in this clause (ii) shall continue for sixty (60) days without having been dismissed, bonded or discharged; or (iii) a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Credit Party or any of its Subsidiaries other than Immaterial Subsidiaries, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or (iv) there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Credit Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; and or (v) a warrant of attachment, execution or similar process shall have been issued against any such event described substantial part of the property of any Credit Party or any of its Subsidiaries; provided that, notwithstanding the foregoing, the events set forth in this clause (iif) with respect to any Credit Party or any of its Subsidiaries (in each case, other than a Borrower, Hot Air, BurgerFi International, LLC, BF Restaurant Management, LLC, BurgerFi IP, LLC, ACFP Management or Anthony’s Pizza Holding Company, LLC) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or dischargednot constitute an Event of Default unless any of the events described in clauses (i) through (v) above occur with respect to such Credit Parties and/or Subsidiaries owning and operating more than two restaurants in the aggregate over the term of this Agreement; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party or any of their respective its Subsidiaries (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or any of its Subsidiaries other than Immaterial Subsidiaries, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, 145 157 execution or similar process shall have been issued against any substantial part of the property of any Loan Party or any of its Subsidiaries, and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (Prime Hospitality Corp)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party the Parent or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case or proceeding under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state state, provincial, territorial, local or local lawforeign Requirements of Law, which relief is not stayed; or (ii) the commencement of an involuntary case shall be commenced or proceeding against any Loan Party the Parent or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, interim receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian monitor, custodian, administrator, or other officer having similar powers over any Loan Party the Parent or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial material part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, monitor, administrator or other custodian of any Loan Party the Parent or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial material part of its property; and , which remains, in any such event described in case under this clause (iif), in the case of an Obligor (other than a U.K. Domiciled Obligor) shall continue undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissedor, vacatedin the case of a U.K. Domiciled Obligor, bonded such petition is a winding up petition which is not frivolous or vexatious and is not discharged, stayed or dismissed within 14 days of commencement; or
Appears in 1 contract
Samples: Loan and Security Agreement (Topgolf Callaway Brands Corp.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of Holdings, any Loan Party Borrower or any of its Subsidiaries Subsidiary Guarantor (other than an any Immaterial Subsidiary) in an involuntary case or proceeding under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state state, provincial, local or local lawforeign Requirements of Law, which relief is not stayed; or (ii) the commencement of an involuntary case shall be commenced or proceeding against Holdings, any Loan Party Borrower or any of their respective Subsidiaries Subsidiary Guarantor (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, interim receiver, manager, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, monitor, administrator, custodian or other officer having similar powers over Holdings, any Loan Party Borrower or any of its Subsidiaries Subsidiary Guarantor (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial material part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, receiver, manager, receiver and manager, monitor, trustee or other custodian of Holdings, any Loan Party Borrower or any of its Subsidiaries Subsidiary Guarantor (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial material part of its property; and , which remains, in any such event described in case under this clause (ii) shall continue f), undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A An ---------------------------------------------------- involuntary case shall be commenced against any Loan Party and the petition shall not be dismissed, stayed, bonded or discharged within sixty (60) days; or a court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case case, under any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter hereinafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state state, local or local foreign law; or the board of directors of any Loan Party (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of the foregoing.
(ii) an involuntary case shall be commenced against any Loan Party or any of their respective Subsidiaries (other than an Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effect; or a A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or any of its Subsidiaries other than Immaterial Subsidiaries, or over all or a substantial part of the assets of any such Loan Party’s or any of its Subsidiaries’ property, Party shall have been be entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; the assets of any Loan Party shall be appointed or a warrant of attachment, execution or similar process against any substantial part of the assets of any Loan Party shall be issued and any such event described in this clause (ii) shall continue for 60 consecutive days without having been not be stayed, dismissed, vacated, bonded or discharged; oror the board of directors of any Loan Party (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of the foregoing.
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings or any of its Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case or proceeding under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawRequirements of Law, which relief is not stayed; or (ii) the commencement of an involuntary case shall be commenced or proceeding against any Loan Party Holdings or any of their respective its Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, administrator, custodian or other officer having similar powers over any Loan Party Holdings or any of its Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial material part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Holdings or any of its Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial material part of its property; and , which remains, in any such event described in case or proceeding under this clause (ii) shall continue f), undismissed, unvacated, unbonded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 1 contract
Samples: Term Loan Credit Agreement (Granite Point Mortgage Trust Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A An involuntary case shall be commenced against any Stellex Party and the petition shall not be dismissed, stayed, bonded or discharged for a period of sixty (60) days; or a court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Stellex Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case case, under any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter hereinafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state state, local or local foreign law; or the board of directors of any Stellex Party (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of the foregoing.
(ii) an involuntary case shall be commenced against any Loan Party or any of their respective Subsidiaries (other than an Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effect; or a A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Stellex Party or any of its Subsidiaries other than Immaterial Subsidiaries, or over all or a substantial part of the assets of any Stellex Party shall be entered and such Loan Party’s decree or any order shall not be stayed, dismissed or discharged for a period of its Subsidiaries’ property, shall have been enteredsixty (60) days; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Stellex Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; the assets of any Stellex Party shall be appointed or a warrant of attachment, execution or similar process against any substantial part of the assets of any Stellex Party shall be issued and any such event described in this clause (ii) shall continue for 60 consecutive days without having been not be stayed, dismissed, vacated, bonded or dischargeddischarged for a period of sixty (60) days; oror the board of directors of any Stellex Party (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of the foregoing.
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of Holdings, the Buyer, any Loan Party Borrower or any of its Subsidiaries (other than an Immaterial Subsidiary) Significant Subsidiary in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, territorial, state or local lawRequirement of Law; or (ii) the commencement of an involuntary case shall be commenced against Holdings, the Buyer, any Loan Party Borrower or any of their respective Subsidiaries (other than an Immaterial Subsidiary) Significant Subsidiary under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order 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 Loan Party Borrower or any of its Subsidiaries other than Immaterial SubsidiariesSignificant Subsidiary, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of Holdings, the Buyer, any Loan Party Borrower or any of its Subsidiaries (other than its Immaterial Subsidiaries) Significant Subsidiary for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissed, vacated, bonded days; or discharged; or157 [[NYCORP:3666673v10:4312W:08/14/2017--04:53 PM]][[5628396]]
Appears in 1 contract
Samples: Credit Agreement (Certara, Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party the Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party the Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue , which remains undismissed, unvacated, unbounded or unstayed for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Borrower or any of its Subsidiaries (other than an Immaterial Subsidiary[***]) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Borrower or any of their respective its Subsidiaries (other than an Immaterial Subsidiary[***]) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manageradministrator, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Borrower or any of its Subsidiaries other than Immaterial Subsidiaries([***]), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, administrator, trustee or other custodian of any Loan Party Borrowers or any of its Subsidiaries (other than its Immaterial Subsidiaries[***]) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Borrower or any of its Subsidiaries (other than any Immaterial Subsidiary), and any such event described in this clause the foregoing clauses (i) or (ii) shall continue for 60 consecutive days [***] without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party Borrower or any of its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law now or hereafter in effect, other Insolvency Laws which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawInsolvency Laws; or or
(ii) an involuntary case shall be commenced against any Loan Party Borrower or any of their respective its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) under the Bankruptcy Code or under any Debtor Relief Law now or hereafter in effectother Insolvency Laws; or a decree or order of a court having jurisdiction in the premises for the appointment of an administrator, a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other 135 custodian of any Loan Party Borrower or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit Agreement (Joy Global Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter enters a decree or order for relief in respect of any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be is granted under any applicable federal, state or local law; or (ii) an involuntary case shall be is commenced against any Loan Party the Borrower or any of their respective Subsidiaries Subsidiary (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than an Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been is entered; or there shall have occurred occurs the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party the Borrower or any of its Subsidiaries Subsidiary (other than its an Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process is issued against any substantial part of the property of the Borrower or any Subsidiary (other than an Immaterial Subsidiary), and any such event described in this clause (ii) shall continue continues for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party or any of its Subsidiaries (other than an Immaterial SubsidiaryEnglish Loan Party) or any Rubraca Subsidiary in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party or any of their respective Subsidiaries (other than an Immaterial SubsidiaryEnglish Loan Party) or any Rubraca Subsidiary under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party (other than an English Loan Party) or any of its Subsidiaries other than Immaterial SubsidiariesRubraca Subsidiary, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party or any of its Subsidiaries (other than its Immaterial Subsidiariesan English Loan Party) or any Rubraca Subsidiary for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Loan Party (other than an English Loan Party) or any Rubraca Subsidiary, and any such event described in this clause (ii) shall continue for 60 sixty (60) consecutive days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party Borrower or any of its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law now or hereafter in effect, other Insolvency Laws which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawInsolvency Laws; or (ii) an involuntary case shall be commenced against any Loan Party Borrower or any of their respective its Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) under the Bankruptcy Code or under any Debtor Relief Law now or hereafter in effectother Insolvency Laws; or a decree or order of a court having jurisdiction in the premises for the appointment of an administrator, a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party Borrower or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries), and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit Agreement (Joy Global Inc)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Abitibi Entity (other than Abitibi Entities that (A) are not Credit Parties, (B) are not Augusta Newsprint, Manicouagan Power Company, Abitibi-Consolidated Hydro Inc. or any of its their respective Subsidiaries, (C) own no more than 1% of the Consolidated Net Tangible Assets, either individually or in the aggregate with all other such Insignificant Subsidiaries, and (D) have no more than 1% of the consolidated combined total revenues of the Abitibi Entities for the most recently ended twelve-month period, either individually or in the aggregate with all other such Insignificant Subsidiaries (other than each, an Immaterial “Insignificant Subsidiary” and, collectively, the “Insignificant Subsidiaries”)) in an involuntary case or proceeding under any Debtor Relief Law now or hereafter in effectInsolvency Law, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local provincial law; or (ii) an involuntary case or proceeding (including the filing of any notice of intention in respect thereof) shall be commenced against any Loan Party or any of their respective Subsidiaries Abitibi Entity (other than an Immaterial Insignificant Subsidiary) under any Debtor Relief Law now or hereafter in effectInsolvency Law; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and receiver-manager, administrative receiver, administrator, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or any of its Subsidiaries Abitibi Entity (other than Immaterial Subsidiariesan Insignificant Subsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee trustee, custodian, or other custodian similar officer of any Loan Party or any of its Subsidiaries Abitibi Entity (other than its Immaterial Subsidiariesan Insignificant Subsidiary) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Abitibi Entity (other than an Insignificant Subsidiary), and (except in respect of any UK Credit Party) any such event described in this clause (ii) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit and Guaranty Agreement (AbitibiBowater Inc.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. Any of the following events shall occur:
(ia) A a court of competent jurisdiction shall enter enters a decree or order for relief in with respect of any Loan Party to the Borrower or any of its Subsidiaries (other than an Immaterial the Mexican Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effectthe Bankruptcy Code, which decree or order is not stayed; stayed or any other similar relief shall be is not granted under any applicable federal, federal or state or local law; or
(b) the continuance of any of the following events for seventy-five (75) days unless dismissed, stayed, bonded or discharged; (iii) an involuntary case shall be is commenced against any Loan Party the Borrower or any of their respective its Subsidiaries (other than an Immaterial the Mexican Subsidiary) ), under any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter in effect; or (ii) a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or any of its Subsidiaries (other than Immaterial Subsidiariesthe Mexican Subsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been is entered; or there shall have occurred the involuntary appointment of (iii) an interim receiver, trustee or other custodian is appointed without the consent of any Loan Party the Borrower or any of its Subsidiaries (other than the Mexican Subsidiary), for all or a substantial part of the property of any such Person; or
(c) the Borrower or any of its Immaterial SubsidiariesSubsidiaries (other than the Mexican Subsidiary) commences a voluntary case under the Bankruptcy Code, or consents to the entry of an order for relief in an involuntary case or to the conversion of an involuntary case to be a voluntary case under any such law or consents to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; and or
(d) the Borrower or any such event described of its Subsidiaries (other than the Mexican Subsidiary) makes any assignment for the benefit of creditors; or
(e) the Board of Directors of the Borrower or any of its Subsidiaries (other than the Mexican Subsidiary) adopts any resolution or otherwise authorizes action to approve any of the actions referred to in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or discharged; orsection.
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A An involuntary case shall be commenced against any Loan Party and the petition shall not be dismissed, stayed, bonded or discharged within sixty (60) days after commencement of the case; or a court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case case, under any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter hereinafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state state, local or local foreign law; or (ii) an involuntary case shall be commenced against the board of directors of any Loan Party or partner of any Loan Party (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of their respective Subsidiaries the foregoing; or
(other than an Immaterial Subsidiaryii) under any Debtor Relief Law now or hereafter in effect; or a A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or any of its Subsidiaries other than Immaterial Subsidiaries, or over all or a substantial part of any the assets of such Loan Party’s or any of its Subsidiaries’ property, Party shall have been be entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; the assets of such Loan Party shall be appointed or a warrant of attachment, execution or similar process against any substantial part of the assets of such Loan Party shall be issued and any such event described in this clause (ii) shall continue for 60 consecutive days without having been not be stayed, dismissed, vacated, bonded or dischargeddischarged within sixty (60) days after entry, appointment or issuance; or the board of directors of any Loan Party or partner of any Loan Party (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of the foregoing; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of Holdings, any Loan Party Borrower or any of its their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, state or local law; or (ii) the commencement of an involuntary case shall be commenced against Holdings, any Loan Party Borrower or any of their respective Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry #94513555v35 by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, interim receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, monitor, custodian or other officer having similar powers over Holdings, any Loan Party Borrower or any of its their respective Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred (iii) the involuntary appointment of an interim receiver, trustee trustee, monitor or other custodian of Holdings, any Loan Party Borrower or any of its their respective Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a substantial part of its property; and any such event described in this clause , which remains undismissed, unvacated, unbounded or unstayed pending appeal for sixty (ii60) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or dischargeddays; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party Holdings, the Borrower or any of its Subsidiaries (other than any Immaterial Subsidiary or any Subsidiary that could at such time, upon designation by Holdings, become an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency, corporate or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, territorial or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party Holdings, the Borrower or any of their respective its Subsidiaries (other than any Immaterial Subsidiary or any Subsidiary that could at such time, upon designation by Holdings, become an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency, corporate or similar law now or hereafter in effect; or a decree or order of a 56 court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, monitor, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Borrower or any of its Subsidiaries (other than any Immaterial SubsidiariesSubsidiary or any Subsidiary that could at such time, upon designation by Holdings, become an Immaterial Subsidiary), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, receiver and manager, trustee or other custodian of any Loan Party Holdings, the Borrower or any of its Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary or any Subsidiary that could at such time, upon designation by Holdings, become an Immaterial Subsidiary) for all or a substantial part of its property; and any such event described in this clause (ii) shall continue for 60 consecutive days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (ia) A court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Transaction Party or any of its Subsidiaries (other than an Immaterial Subsidiary) in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state or local lawApplicable Law; or or
(iib) an An involuntary case shall be commenced against any Loan Transaction Party or any of their respective its Subsidiaries (other than an Immaterial Subsidiary) under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Transaction Party or any of its Subsidiaries other than Immaterial Subsidiaries, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Transaction Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Transaction Party or any of its Subsidiaries and any such event described in this clause (ii) shall continue for 60 consecutive days without having been unless dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party or the Borrower, any of its Subsidiaries (or any other than an Immaterial Subsidiary) Credit Party in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; , or any other similar relief shall be granted under any applicable federalfederal or state law, state or local law; or (ii) an involuntary case shall be commenced against the Borrower, any Loan Party of its Subsidiaries or any of their respective Subsidiaries (other than an Immaterial Subsidiary) Credit Party under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; , or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party or the Borrower, any of its Subsidiaries or any other than Immaterial SubsidiariesCredit Party, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party or the Borrower, any of its Subsidiaries (or any other than its Immaterial Subsidiaries) Credit Party for all or a substantial part of its property; property or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of the Borrower, any of its Subsidiaries or any other Credit Party, and any such event described in this clause (ii) shall continue for 60 consecutive five (5) days without having been dismissed, vacated, bonded or discharged; or;
Appears in 1 contract
Samples: Credit Agreement
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Credit Party or any of its Subsidiaries (other than an Immaterial Subsidiary) Material Subsidiary in an involuntary case under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Credit Party or any of their respective Subsidiaries (other than an Immaterial Subsidiary) Material Subsidiary under the Bankruptcy Code or under any Debtor Relief Law other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Credit Party or any of its Subsidiaries other than Immaterial SubsidiariesMaterial Subsidiary, or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Credit Party or any of its Subsidiaries (other than its Immaterial Subsidiaries) Material Subsidiary for all or 103 a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of any Credit Party or any Material Subsidiary , and any such event described in this clause (ii) shall continue for 60 consecutive sixty (60) days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Payless Shoesource Inc /De/)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in respect of any Loan Party either Borrower or any of its their Restricted Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) in an involuntary case under any Debtor Relief Law now or hereafter in effectLaw, which decree or order is not stayedstayed or any action similar thereto; or any other similar relief shall be granted under any applicable federal, federal or state or local law; or (ii) an involuntary case shall be commenced against any Loan Party either Borrower or any of their respective Restricted Subsidiaries (other than an Immaterial SubsidiarySubsidiaries) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party either Borrower or any of its their Restricted Subsidiaries (other than Immaterial Subsidiaries), or over all or a substantial part of any such Loan Party’s or any of its Subsidiaries’ property, shall have been entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party either Borrower or any of its their Restricted Subsidiaries (other than its Immaterial Subsidiaries) for all or a substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any substantial part of the property of either Borrower or any of their Restricted Subsidiaries (other than Immaterial Subsidiaries), and any such event described in this clause (iif) shall continue for 60 consecutive sixty days without having been dismissed, vacated, bonded or discharged; or
Appears in 1 contract
Samples: Credit and Guaranty Agreement (AVG Technologies N.V.)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A An involuntary case shall be commenced against the Borrower or TMC or any of their Subsidiaries or Affiliates to which individually or in the aggregate as to such Subsidiaries and Affiliates more than $100,000,000 of the Capitalization Value is attributable, and the petition shall not be dismissed, stayed or discharged within sixty (60) days after commencement of the case; or a court of competent having jurisdiction in the premises shall enter a decree or order for relief in respect of any Loan Party the Borrower or TMC or any of its their respective Subsidiaries (other than an Immaterial Subsidiary) or Affiliates in an involuntary case case, under any Debtor Relief Law applicable bankruptcy, insolvency or other similar law now or hereafter hereinafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, state state, local or local foreign law; or the board of directors of TMC or the partners of the Borrower or the board of directors, partners or similar manager of any of TMC’s or the Borrower’s Subsidiaries or Affiliates to which individually or in the aggregate as to such Subsidiaries and Affiliates more than $100,000,000 of the Capitalization Value is attributable (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of the foregoing.
(ii) an involuntary case shall be commenced against any Loan Party or any of their respective Subsidiaries (other than an Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effect; or a A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, receiver and manager, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party the Borrower or TMC or any of its their respective Subsidiaries other or Affiliates to which individually or in the aggregate as to such Subsidiaries and Affiliates more than Immaterial Subsidiaries$100,000,000 of the Capitalization Value is attributable, or over all or a substantial part of the Property of any such Loan Party’s of TMC, the Borrower or any of its Subsidiaries’ property, such Subsidiaries or Affiliates shall have been be entered; or there shall have occurred the involuntary appointment of an interim receiver, trustee or other custodian of any Loan Party of TMC, the Borrower or any of its such Subsidiaries (other than its Immaterial Subsidiaries) for or Affiliates or of all or a substantial part of its property; the Property of any of TMC, the Borrower or any of such Subsidiaries or Affiliates shall be appointed or a warrant of attachment, execution or similar process against any substantial part of the Property of any of TMC, the Borrower or any of such Subsidiaries or Affiliates shall be issued and any such event described in this clause (ii) shall continue for 60 consecutive days without having been not be stayed, dismissed, vacated, bonded or dischargeddischarged within sixty (60) days after entry, appointment or issuance; oror the respective board of directors of any of TMC, the Borrower or partners of the Borrower or the board of directors, partners or similar manager of TMC or any of the Borrowers’ or TMC’s Subsidiaries or Affiliates to which individually or in the aggregate as to such Subsidiaries and Affiliates more than $100,000,000 of the Capitalization Value is attributable (or any committee thereof) adopts any resolution or otherwise authorizes any action to approve any of the foregoing.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Mills Corp)
Involuntary Bankruptcy; Appointment of Receiver, Etc. (i) A The entry by a court of competent jurisdiction shall enter of a decree or order for relief in respect of any Loan Party Holdings, the Lead Borrower or any of its Restricted Subsidiaries (other than an any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable federal, provincial, state or local law; or (ii) the commencement of an involuntary case shall be commenced against any Loan Party Holdings, the Lead Borrower or any of their respective its Restricted Subsidiaries (other than an any Immaterial Subsidiary) under any Debtor Relief Law now or hereafter in effectLaw; or a decree or order of the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, administrative receiver, administrator, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over any Loan Party Holdings, the Lead Borrower or any of its Restricted Subsidiaries (other than any Immaterial SubsidiariesSubsidiary), or over all or a substantial part of its property; (iii) with respect to any such UK Loan Party’s , the suspension of payments, order for relief, a moratorium of any indebtedness, winding–up, dissolution, administration or any reorganisation (whether by way of its Subsidiaries’ propertyvoluntary or involuntary arrangement, shall have been enteredscheme of arrangement or otherwise); or there shall have occurred (iv) the involuntary appointment of an interim receiver, trustee trustee, administrative receiver, administrator or other custodian of any Loan Party Holdings, the Lead Borrower or any of its Restricted Subsidiaries (other than its any Immaterial SubsidiariesSubsidiary) for all or a |NY\7652510.20US-DOCS\114316435.10|| substantial part of its property; and any such event described , which in this clause (ii) shall continue the case of a Loan Party other than the UK Loan Parties remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days without having been dismissedor in the case of a UK Loan Party such action or proceeding is being contested in good faith and is not discharged, vacated, bonded stayed or dischargeddismissed within 21 days of commencement; or
Appears in 1 contract
