Common use of Involuntary Bankruptcy or Receivership Proceedings Clause in Contracts

Involuntary Bankruptcy or Receivership Proceedings. A custodian, receiver, conservator, liquidator or trustee of the Borrower or any Material Subsidiary or of any Property thereof is appointed by the order or decree of any court or agency or supervisory authority having jurisdiction, and such decree or order remains unstayed for more than sixty (60) days; or the Borrower or any Material Subsidiary is adjudicated bankrupt or insolvent and such order or decree remains unstayed for more than sixty (60) days; or any Property of the Borrower or any Material Subsidiary is sequestered by court order; or a petition is filed against the Borrower or any Material Subsidiary under any state or federal bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution, liquidation or receivership law of any jurisdiction, whether now or hereafter in effect, and is not stayed or dismissed within sixty (60) days after such filing; or

Involuntary Bankruptcy or Receivership Proceedings. A custodian, receiver, conservator, liquidator or trustee of the Borrower or any Material Subsidiary or of any Property thereof is appointed by the order or decree of any court or agency or supervisory authority having jurisdiction, and such decree or order remains unstayed for more than sixty (60) days; or the Borrower or any Material Subsidiary is adjudicated bankrupt or insolvent and such order or decree remains unstayed for more than sixty (60) days; or any Property of the Borrower or any Material Subsidiary is sequestered by court order; or a petition is filed against the Borrower or any Material Subsidiary under any state or federal bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution, liquidation or receivership law of any jurisdiction, whether now or hereafter in effect, and is not stayed or dismissed within sixty (60) days after such filing; or

Involuntary Bankruptcy or Receivership Proceedings. A custodian, receiver, conservator, liquidator or trustee of the Borrower Mortgagor or any Material Subsidiary Guarantor or of any Property thereof of its or his property (including the Mortgaged Property) is appointed by the order or decree of any court or agency or supervisory authority having jurisdiction, and such decree ; or an order remains unstayed for more than sixty (60) daysrelief is entered against the Mortgagor or the Guarantor under the Federal Bankruptcy Code; or the Borrower Mortgagor or any Material Subsidiary Guarantor is adjudicated bankrupt or insolvent and such order or decree remains unstayed for more than sixty (60) daysinsolvent; or any Property material portion of the Borrower properties of any of the Mortgagor or any Material Subsidiary Guarantor is sequestered by court orderorder and such order remains in effect for more than 60 days after such party obtains knowledge thereof; or a petition is filed against the Borrower Mortgagor or any Material Subsidiary Guarantor under any state or federal bankruptcystate, reorganization, arrangement, insolvency, readjustment of debt, dissolution, ; liquidation or receivership law of any jurisdiction, whether now or hereafter in effect, and such petition is not stayed or dismissed within sixty (60) days after such filing; or90 days;