Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower or any Subsidiary (i) adjudicating any Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower or of any Subsidiary, or of a material portion of any Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrower's or any Subsidiary's business or the use or disposition of a material portion of any Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 8 contracts
Samples: Financing and Security Agreement (Argan Inc), Financing and Security Agreement (Spacehab Inc \Wa\), Financing and Security Agreement (Spacehab Inc \Wa\)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower or any Subsidiary (i) adjudicating any Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower or of any Subsidiary, or of a material portion of any Borrower's ’s or any Subsidiary's ’s assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrower's ’s or any Subsidiary's ’s business or the use or disposition of a material portion of any Borrower's ’s or any Subsidiary's ’s assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 7 contracts
Samples: Financing and Security Agreement (Rand Worldwide Inc), Business Loan and Security Agreement (Vse Corp), Financing and Security Agreement (Argan Inc)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower Borrowers or any Subsidiary (i) adjudicating any Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower or of any Subsidiary, or of a material portion of any Borrower's ’s or any Subsidiary's ’s assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrower's ’s or any Subsidiary's ’s business or the use or disposition of a material portion of any Borrower's ’s or any Subsidiary's ’s assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 4 contracts
Samples: Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any the Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any the Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any the Borrower or any Subsidiary (i) adjudicating any the Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any Subsidiary, or of a material portion of any the Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's or any Subsidiary's business or the use or disposition of a material portion of any the Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 3 contracts
Samples: Financing and Security Agreement (Pec Solutions Inc), Financing Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Dcap Group Inc/)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any the Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any the Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any the Borrower or any Subsidiary (i) adjudicating any the Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any Subsidiary, or of a material portion of any the Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's or any Subsidiary's business or the use or disposition of a material portion of any the Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 3 contracts
Samples: Reimbursement Agreement (American Woodmark Corp), Financing and Security Agreement (Glasstech Inc), Financing Agreement (American Woodmark Corp)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any the Borrower or any Subsidiary Guarantor under the Bankruptcy Code, or (b) any such case shall be commenced against any the Borrower or any Subsidiary Guarantor and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any the Borrower or any Subsidiary Guarantor (i) adjudicating any the Borrower, or any Subsidiary Guarantor bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any SubsidiaryGuarantor, or of a material portion of any the Borrower's or any SubsidiaryGuarantor's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion all or substantially all of any the Borrower's or any SubsidiaryGuarantor's business or the use or disposition of a material portion all or substantially all of any the Borrower's or any SubsidiaryGuarantor's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 3 contracts
Samples: Financing and Security Agreement (BPC Holding Corp), Financing and Security Agreement (BPC Holding Corp), Financing and Security Agreement (BPC Holding Corp)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any the Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any the Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any the Borrower or any Subsidiary (i) adjudicating any Borrower, the Borrower or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any Subsidiary, or of a material portion of any the Borrower's ’s or any Subsidiary's ’s assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's ’s or any Subsidiary's ’s business or the use or disposition of a material portion of any the Borrower's ’s or any Subsidiary's ’s assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 3 contracts
Samples: Financing and Security Agreement (ARGON ST, Inc.), Financing and Security Agreement (Dcap Group Inc), Financing and Security Agreement (Dcap Group Inc)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any the Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any the Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any the Borrower or any Subsidiary (i) adjudicating any the Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any Subsidiary, or of a material portion of any the Borrower's ’s or any Subsidiary's ’s assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's ’s or any Subsidiary's ’s business or the use or disposition of a material portion of any the Borrower's ’s or any Subsidiary's ’s assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 2 contracts
Samples: Financing and Security Agreement (Healthextras Inc), Financing and Security Agreement (Pec Solutions Inc)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower or any Subsidiary (i) adjudicating any Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower or of any Subsidiary, or of a material portion of any Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrower's or any Subsidiary's business or the use or disposition of a material portion of any Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Samples: Financing and Security Agreement (Gp Strategies Corp)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any the Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any the Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any the Borrower or any Subsidiary (i) adjudicating any Borrower, the Borrower or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any Subsidiary, or of a material portion of any the Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's or any Subsidiary's business or the use or disposition of a material portion of any the Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any either Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any either Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any either Borrower or any Subsidiary (i) adjudicating any either Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any either Borrower or of any Subsidiary, or of a material portion of any either Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any either Borrower's or any Subsidiary's business or the use or disposition of a material portion of any either Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower or any Subsidiary (i) adjudicating any Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower or of any Subsidiary, or of a material portion of any the Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's or any Subsidiary's business or the use or disposition of a material portion of any the Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Samples: Financing and Security Agreement (Clean Towel Service Inc)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any the Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any the Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any the Borrower or any Subsidiary (i) adjudicating any the Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any Subsidiary, or of a material portion of any the Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's or any Subsidiary's business or the use or disposition of a material portion of any the Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.. 7.1.7
Appears in 1 contract
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any the Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any the Borrower or any Subsidiary and shall not be dismissed within sixty ninety (6090) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any the Borrower or any Subsidiary (i) adjudicating any the Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any Subsidiary, or of a material portion of any the Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's or any Subsidiary's business or the use or disposition of a material portion of any the Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Samples: Financing Agreement (Trex Co Inc)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any the Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any the Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any the Borrower or any Subsidiary (i) adjudicating any Borrower, the Borrower or any Subsidiary Subsidiary, bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any Subsidiary, or of a material portion of any the Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's or any Subsidiary's business or the use or disposition of a material portion of any the Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Samples: Financing and Security Agreement (Sensys Technologies Inc)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower the Borrowers or any Subsidiary (i) adjudicating any Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower or of any Subsidiary, or of a material portion of any Borrower's ’s or any Subsidiary's ’s assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrower's ’s or any Subsidiary's ’s business or the use or disposition of a material portion of any Borrower's ’s or any Subsidiary's ’s assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Samples: Financing and Security Agreement (Gp Strategies Corp)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower the Company or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower the Company or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower the Company or any Subsidiary (i) adjudicating any Borrowerthe Company, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower the Company or of any Subsidiary, or of a material portion of any Borrowerthe Company's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrowerthe Company's or any Subsidiary's business or the use or disposition of a material portion of any Borrowerthe Company's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Samples: Financing and Security Agreement (Dispatch Management Services Corp)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any a Borrower or any Subsidiary (i) adjudicating any Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower or of any Subsidiary, or of a material portion of any Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrower's or any Subsidiary's business or the use or disposition of a material portion of any Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Samples: Financing and Security Agreement (Kimberton Enterprises Inc)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any the Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any the Borrower or any Subsidiary and shall not be dismissed within sixty ninety (6090) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any the Borrower or any Subsidiary (i) adjudicating any the Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any Subsidiary, or of a material portion of any the Borrower's ’s or any Subsidiary's ’s assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's ’s or any Subsidiary's ’s business or the use or disposition of a material portion of any the Borrower's ’s or any Subsidiary's ’s assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Samples: Financing and Security Agreement (Healthextras Inc)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower Debtor or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower Debtor or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower Debtor or any Subsidiary (i) adjudicating any BorrowerDebtor, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower Debtor or of any Subsidiary, or of a material portion of any Borrower's Debtor’s or any Subsidiary's ’s assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrower's Debtor’s or any Subsidiary's ’s business or the use or disposition of a material portion of any Borrower's Debtor’s or any Subsidiary's ’s assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower or any Subsidiary (i) adjudicating any the Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any the Borrower or of any Subsidiary, or of a material portion of any the Borrower's or any Subsidiary's assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any the Borrower's or any Subsidiary's business or the use or disposition of a material portion of any the Borrower's or any Subsidiary's assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Samples: Financing and Security Agreement (Paradise Color Inc)
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Material Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Material Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower or any Material Subsidiary (i) adjudicating any Borrower, or any Material Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower or of any Material Subsidiary, or of a material portion of any Borrower's ’s or any Material Subsidiary's ’s assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrower's ’s or any Material Subsidiary's ’s business or the use or disposition of a material portion of any Borrower's ’s or any Material Subsidiary's ’s assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Subsidiary and shall not be dismissed or stayed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower or any Subsidiary (i) adjudicating any Borrower, Borrower or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower or of any Subsidiary, or of a material portion of any Borrower's or any Subsidiary's assets, as determined by the Agent and the Required Lenders in their good faith, reasonable discretion or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrower's or any Subsidiary's business or the use or disposition of a material portion of any Borrower's or any Subsidiary's assets, as determined by the Agent and the Required Lenders in their good faith, reasonable discretion, and such order, judgment or decree continues unstayed and in effect for a period of thirty sixty (3060) days from the date entered.
Appears in 1 contract
Involuntary Bankruptcy, etc. (a) An order for relief shall be entered in any involuntary case brought against any Borrower or any Subsidiary under the Bankruptcy Code, or (b) any such case shall be commenced against any Borrower or any Subsidiary and shall not be dismissed within sixty (60) days after the filing of the petition, or (c) an order, judgment or decree under any other Law is entered by any court of competent jurisdiction or by any other Governmental Authority on the application of a Governmental Authority or of a Person other than any Borrower or any Subsidiary (i) adjudicating any Borrower, or any Subsidiary bankrupt or insolvent, or (ii) appointing a receiver, trustee or liquidator of any Borrower or of any Subsidiary, or of a material portion of any Borrower's ’s or any Subsidiary's ’s assets, or (iii) enjoining, prohibiting or otherwise limiting the operation of a material portion of any Borrower's ’s or any Subsidiary's ’s business or the use or disposition of a material portion of any Borrower's ’s or any Subsidiary's ’s assets, and such order, judgment or decree continues unstayed and in effect for a period of thirty (30) days from the date entered.
Appears in 1 contract
Samples: Financing and Security Agreement (Liquidity Services Inc)