Common use of Involuntary Bankruptcy or Receivership Proceedings Clause in Contracts

Involuntary Bankruptcy or Receivership Proceedings. A receiver, conservator, liquidator or trustee of a Company or of its property is appointed by order or decree of any court or agency or supervisory authority having jurisdiction; or an order for relief is entered against a Company under the U.S. Bankruptcy Code; or a Company is adjudicated bankrupt or insolvent; or any material portion of the properties of a Company is sequestered by court order and such order remains in effect for more than fifty (50) days after a Company obtains knowledge thereof; or a petition is filed against a Company under any state, 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 dismissed within sixty (60) days;

Involuntary Bankruptcy or Receivership Proceedings. A receiver, conservator, liquidator or trustee of a the Company or of its their property is appointed by order or decree of any court or agency or supervisory authority having jurisdiction; or an order for relief is entered against a the Company under the U.S. Bankruptcy Code; or a the Company is adjudicated bankrupt or insolvent; or any material portion of the properties of a the Company is sequestered by court order and such order remains in effect for more than fifty (50) days after a the Company obtains knowledge thereof; or a petition is filed against a the Company under any state, 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 dismissed within sixty (60) days;

Involuntary Bankruptcy or Receivership Proceedings. A receiver, conservator, liquidator or trustee of a Company any Company, or of any of its property property, is appointed by order or decree of any court or agency or supervisory authority having jurisdiction; or an order for relief is entered against a any Company under the U.S. Federal Bankruptcy Code; or a any Company is adjudicated bankrupt or insolvent; or any material portion of the properties property of a any Company is sequestered by court order and such order remains in effect for more than fifty (50) 30 days after a Company such party obtains knowledge thereof; or a petition is filed against a any Company under any state, 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 dismissed within sixty (60) 60 days;.

Involuntary Bankruptcy or Receivership Proceedings. A receiver, conservator, liquidator or trustee of a Company any Company, or of any of its property respective -49- Collateral, is appointed by order or decree of any court or agency or supervisory authority having jurisdiction; or an order for relief is entered against a any Company under the U.S. Federal Bankruptcy Code; or a any Company is adjudicated bankrupt or insolvent; or any material portion of the properties property of a Company is sequestered by court order and such order remains in effect for more than fifty (50) 30 days after a Company such party obtains knowledge thereof; or a petition is filed against a any Company under any state, 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 dismissed within sixty (60) 60 days;.