Notice in Event of Filing of Action for Debtor's Relief. Borrower ------------------------------------------------------- shall notify Bank in writing within five (5) days of the occurrence of any of the following: (1) Borrower begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its assets are subject generally to the payment of its liabilities or whereby any receiver, trustee, liquidator or the like is appointed for it or any substantial part of its assets (including without limitation the filing by Borrower of a petition for appointment as debtor-in-possession under Title 11 of the U.S. Code); (2) Borrower fails to obtain the dismissal or stay on appeal within thirty (30) calendar days of the commencement of any proceeding arrangement referred to in (1) above; (
Appears in 5 contracts
Samples: Export Import Bank Loan and Security Agreement, Loan and Security Agreement (Open Market Inc), Loan and Security Agreement (Seachange International Inc)
Notice in Event of Filing of Action for Debtor's Relief. Borrower ------------------------------------------------------- shall notify Bank in writing within five (5) days of the occurrence of any of the following:
(1) Borrower begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its assets are subject generally to the payment of its liabilities or whereby any receiver, trustee, liquidator or the like is appointed for it or any substantial part of its assets (including without limitation the filing by Borrower of a petition for appointment as debtor-in-possession under Title 11 of the U.S. Code); ;
(2) Borrower fails to obtain the dismissal or stay on appeal within thirty forty-five (3045) calendar days of the commencement of any proceeding arrangement referred to in (1) above; (
Appears in 1 contract
Samples: Loan and Security Agreement (Aspen Technology Inc /De/)
Notice in Event of Filing of Action for Debtor's Relief. Borrower ------------------------------------------------------- shall notify Bank in writing within five (5) days of the occurrence of any of the following:
(1) Borrower begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its assets are subject generally to the payment of its liabilities or whereby any receiver, trustee, liquidator or the like is appointed for it or any substantial part of its assets (including without limitation the filing by Borrower of a petition for appointment as a debtor-in-possession under Title 11 of the U.S. Code); (2) Borrower fails to obtain the dismissal or stay on appeal within thirty (30) calendar days of the commencement of any proceeding arrangement referred to in (1) above; (
Appears in 1 contract
Samples: Loan and Security Agreement (Quicklogic Corporation)
Notice in Event of Filing of Action for Debtor's Relief. Borrower ------------------------------------------------------- shall notify Bank in writing within five (5) days Business Days of the occurrence of any of the following:
(1) Borrower begins or consents in any manner to any proceeding or arrangement for its liquidation in whole or in part or to any other proceeding or arrangement whereby any of its assets are subject generally to the payment of its liabilities or whereby any receiver, trustee, liquidator or the like is appointed for it or any substantial part of its assets (including without limitation the filing by Borrower of a petition for appointment as debtor-in-possession under Title 11 of the U.S. Code); (2) Borrower fails to obtain the dismissal or stay on appeal within thirty (30) calendar days of the commencement of any proceeding arrangement referred to in (1) above; (
Appears in 1 contract
Samples: Export Import Bank Loan and Security Agreement (Ibasis Inc)