Common use of Involuntary Bankruptcy, Insolvency, etc Clause in Contracts

Involuntary Bankruptcy, Insolvency, etc. Involuntary proceedings or an involuntary petition shall be commenced or filed against the Borrower, the Parent or any of their Subsidiaries under any bankruptcy, insolvency or similar law or seeking the dissolution or reorganization of the Borrower, the Parent or any of their Subsidiaries or the appointment of a receiver, trustee, custodian or liquidator for the Borrower, the Parent or any of their Subsidiaries or of a substantial part of the property, assets or business of the Borrower, the Parent or any of their Subsidiaries, and such proceedings or petition shall not be dismissed within sixty (60) days after commencement or filing as the case may be; or

Involuntary Bankruptcy, Insolvency, etc. Involuntary proceedings or an involuntary petition shall be commenced or filed against the Borrower, the Parent Borrower or any of their Subsidiaries Subsidiary under any bankruptcy, insolvency or similar law or seeking the dissolution or reorganization of the Borrower, the Parent Borrower or any of their Subsidiaries Subsidiary or the appointment of a receiver, trustee, custodian or liquidator for the Borrower, the Parent Borrower or any of their Subsidiaries Subsidiary or of a substantial part of the property, assets or business of the Borrower, the Parent Borrower or any of their SubsidiariesSubsidiary, and such proceedings or petition shall not be dismissed within sixty (60) days after commencement or filing as the case may be; or