Common use of Involuntary Bankruptcy Clause in Contracts

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of any Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against any Loan Party under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan Party; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over any Loan Party to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations to make additional Loans;

Involuntary Bankruptcy. (i) If an An involuntary case seeking the liquidation or reorganization of Holdings, any Loan Party or Significant Subsidiary under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code shall be commenced or any similar proceeding shall be commenced against Holdings, any Loan Party or Significant Subsidiary under any other applicable law and and, in either case, any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of Holdings, any Loan PartyParty or Significant Subsidiary; or (5) an order for relief shall have been issued or entered therein;; or (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over Holdings, any Loan Party or Significant Subsidiary to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 60 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations their obligation to make additional Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of any Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code Insolvency Proceeding is commenced against Borrower or any similar proceeding shall be commenced against any Loan Party of its Subsidiaries under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceedingsuch Insolvency Proceeding against it; (2) the petition commencing the involuntary case or similar proceeding Insolvency Proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding Insolvency Proceeding is not dismissed within 60 45 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of Borrower or any Loan Partyof its Subsidiaries; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over Borrower or any Loan Party of its Subsidiaries to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations obligation to make additional Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of the Borrower or any Loan Party or Material Subsidiary under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against the Borrower or any Loan Party or Material Subsidiary under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan PartyParty or Material Subsidiary; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over the Borrower, any Loan Party or Material Subsidiary to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations their obligation to make additional Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of any Loan Party Borrower under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against any Loan Party Borrower under any other applicable law and any of the following events occur: (1) such Person Borrower consents to the institution of the involuntary case or similar proceeding; , (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; , (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, that during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; , (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan Party; such Borrower or (5) an order for relief shall have been issued or entered therein;; or (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over any Loan Party Borrower to take possession of all or a substantial portion of its the Assets of such Borrower, shall have been entered and, within 45 60 days from the date of entry, is not vacated, discharged, or bonded against, ; provided, however, that, that during the pendency of such period, the Lender Group shall be relieved of its obligations obligation to make additional Loans;; or

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of any Loan Party of the Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against the Borrower or any Loan Party of its Subsidiaries (other than Immaterial Subsidiaries) under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets Collateral of the Borrower or any Loan Partyof its Subsidiaries (other than Immaterial Subsidiaries); or (5) an order for relief shall have been issued or entered therein;. (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over the Borrower or any Loan Party of its Subsidiaries (other than Immaterial Subsidiaries) to take possession of all or a substantial portion of its Assets Collateral shall have been entered and, within 45 60 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations to make additional Loans;.

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of PTP or any Loan Party or Significant Restricted Subsidiary under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against PTP or any Loan Party or Significant Restricted Subsidiary under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan PartyParty or Significant Restricted Subsidiary; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over PTP, any Loan Party or Significant Restricted Subsidiary to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations their obligation to make additional Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of Parent or any Loan Party of its Subsidiaries, under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against Parent or any Loan Party of its Subsidiaries under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 sixty (60) days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Revolving Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of Parent or any Loan Partyof its Subsidiaries; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over Parent or any Loan Party of its Subsidiaries to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 sixty (60) days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations obligation to make additional Revolving Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of any Loan Party Borrower or Adviser under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding under any Debtor Relief Laws shall be commenced against any Loan Party under any other applicable law Borrower or Adviser and any of the following events occur: (1A) such Person Borrower or Adviser consents to the institution of the involuntary case or similar proceeding; , (2B) the petition commencing the involuntary case or similar proceeding is not timely controverted; , (3C) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, that during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; , (4D) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan Party; Borrower or Adviser, or (5E) an order for relief shall have been issued or entered therein;; or (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over any Loan Party Borrower or Adviser to take possession of all or a substantial portion of its the Assets of Borrower or Adviser, shall have been entered and, within 45 60 days from the date of entry, is not vacated, discharged, or bonded against, ; provided, however, that, that during the pendency of such period, the Lender Group shall be relieved of its obligations obligation to make additional Loans;; or

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of Borrower or any Loan Party of its Subsidiaries under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against Borrower or any Loan Party of its Subsidiaries under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of Borrower or any Loan Partyof its Subsidiaries; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over Borrower or any Loan Party of its Subsidiaries to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 60 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations their obligation to make additional Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of any Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code Insolvency Proceeding is commenced against Borrower or any similar proceeding shall be commenced against any Loan Party of its Subsidiaries under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceedingsuch Insolvency Proceeding against it; (2) the petition commencing the involuntary case or similar proceeding Insolvency Proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding Insolvency Proceeding is not dismissed within 60 45 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of Borrower or any Loan Partyof its Subsidiaries; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over Borrower or any Loan Party of its Subsidiaries to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations their obligation to make additional Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of PTP or any Loan Party or Significant Restricted Subsidiary under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against PTP or any Loan Party or Significant Restricted Subsidiary under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan PartyParty or Significant Restricted Subsidiary; or (5) an order for relief shall have been issued or entered therein; (ii) ; A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over PTP, any Loan Party or Significant Restricted Subsidiary to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations their obligation to make additional Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of Borrower or any Loan Party of its Subsidiaries under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against Borrower or any Loan Party of its Subsidiaries under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 45 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of Borrower or any Loan Partyof its Subsidiaries; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over Borrower or any Loan Party of its Subsidiaries to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations their obligation to make additional Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of any Loan Party or Significant Subsidiary under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against any Loan Party or Significant Subsidiary under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan PartyParty or Significant Subsidiary; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over any Loan Party or Significant Subsidiary to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations their obligation to make additional Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of Parent or any Loan Party of its Subsidiaries, under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against Parent or any Loan Party of its Subsidiaries under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 sixty (60) days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Revolving Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of Parent or any Loan Partyof its Subsidiaries; or (5) an order for relief shall have been issued or entered therein;; DB2/ 42498508.4 (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over Parent or any Loan Party of its Subsidiaries to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 sixty (60) days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations obligation to make additional Revolving Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of Parent, any Loan Party Borrower or any of Borrowers’ respective Subsidiaries, under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against Parent, any Loan Party Borrower or any of Borrowers’ respective Subsidiaries under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 sixty (60) days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Revolving Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of Parent, any Loan PartyBorrower or any of Borrowers’ respective Subsidiaries; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over Parent, any Loan Party Borrower or any of Borrowers’ respective Subsidiaries to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 sixty (60) days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations obligation to make additional Revolving Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of PTP or any Loan Party or Significant Subsidiary under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against PTP or any Loan Party or Significant Subsidiary under any other applicable law and any of the following events occur: (1) such Person consents to the institution of the involuntary case or similar proceeding; (2) the petition commencing the involuntary case or similar proceeding is not timely controverted; (3) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; (4) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan PartyParty or Significant Subsidiary; or (5) an order for relief shall have been issued or entered therein; (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over PTP, any Loan Party or Significant Subsidiary to take possession of all or a substantial portion of its Assets shall have been entered and, within 45 days from the date of entry, is not vacated, discharged, or bonded against, provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligations their obligation to make additional Loans;

Involuntary Bankruptcy. (i) If an involuntary case seeking the liquidation or reorganization of Borrower, Adviser or any Loan Party Closing Date Investor under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding under any Debtor Relief Laws shall be commenced against any Loan Party under any other applicable law Borrower or Adviser and any of the following events occur: (1A) such Person Borrower, Adviser or any Closing Date Investor consents to the institution of the involuntary case or similar proceeding; , (2B) the petition commencing the involuntary case or similar proceeding is not timely controverted; , (3C) the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, that during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; , (4D) an interim trustee is appointed to take possession of all or a substantial portion of the Assets of Borrower, Adviser or any Loan Party; Closing Date Investor, or (5E) an order for relief shall have been issued or entered therein;; or (ii) A decree or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer having similar powers over Borrower, Adviser or any Loan Party Closing Date Investor to take possession of all or a substantial portion of its the Assets of Borrower, Adviser or any Closing Date Investor, shall have been entered and, within 45 60 days from the date of entry, is not vacated, discharged, or bonded against, ; provided, however, that, that during the pendency of such period, the Lender Group shall be relieved of its obligations obligation to make additional Loans;; or