Notice of Bankruptcy or Insolvency. The Concessioner must give the Director immediate notice (within five (5) days) after the filing of any petition in bankruptcy, filing any petition seeking relief of the same or different kind under any provision of the Bankruptcy Act or its successor, or making any assignment for the benefit of creditors. The Concessioner must also give the Director immediate notice of any petition or other proceeding against the Concessioner for the appointment of a trustee, receiver, or liquidator, or, the taking by any person or entity of the rights granted by this Contract or any part thereof upon execution, attachment or other process of law or equity. For purposes of the bankruptcy statutes, NPS considers that this Contract is not a lease but an executory contract exempt from inclusion in assets of Concessioner pursuant to 11 U.S.C. 365.
Notice of Bankruptcy or Insolvency. The Concessioner must give the Director immediate notice (within five (5) days) after the filing of any petition in bankruptcy, filing any petition seeking relief of the same or different kind under any provision of the Bankruptcy Act or its successor, or making any assignment for the benefit of creditors. The Concessioner must also give the Director immediate notice of any petition or other proceeding against the Concessioner for the appointment of a trustee, receiver, or liquidator, or, the taking by any person or entity of the rights granted by this Contract or any part thereof upon execution, attachment or other process of law or equity. For purposes of the bankruptcy statutes, NPS considers that this Contract is not a lease but an executory Contract exempt from inclusion in assets of Concessioner pursuant to 11 U.S.C. 365. The Director may terminate this Contract if the Director determines that the Concessioner is unable to perform the terms of Contract due to such bankruptcy or insolvency action.
Notice of Bankruptcy or Insolvency. The Concession Contractor must give Reclamation immediate notice (within 5 business days) after the Concession Contractor files any petition seeking relief under any provision of the Bankruptcy Act or its successive legislation; the Concession Contractor makes any assignment for the benefit of creditors; or any petition or other proceeding is filed against the Concession Contractor for the appointment of a trustee, receiver, or liquidator. For purposes of the bankruptcy statutes, Reclamation and the Concession Contractor agree that this Concession Contract is not a lease but an executory contract exempt from inclusion in assets of the Concession Contractor pursuant to 00 Xxxxxx Xxxxxx Code (U.S.C.) 365.
Notice of Bankruptcy or Insolvency. The Concession Contractor or any affiliated organization must give Reclamation immediate notice after the filing of any petition in bankruptcy, filing any petition seeking relief of the same or different kind under any provision of the Bankruptcy Act or its successor, or making any assignment for the benefit of creditors. The Concession Contractor must also give Reclamation immediate notice of any petition or other proceeding against the Concession Contractor for the appointment of a trustee, receiver, or liquidator, or the taking by any person or entity of the rights granted by this Concession Contract or any part thereof upon execution, attachment, or other process of law or equity. For purposes of the bankruptcy statutes, Reclamation considers that this Concession Contract is not a lease but an executory Contract exempt from inclusion in assets of the Concession Contractor pursuant to 11 United States Code (U.S.C.) 365.
Notice of Bankruptcy or Insolvency. The Concessioner must give the Regional Director immediate notice (within five (5) days) after the filing of any petition in bankruptcy, filing any petition seeking relief of the same or different kind under any provision of the Bankruptcy Act or its successor, or making any assignment for the benefit of creditors. The Concessioner must also give the Regional Director immediate notice of any petition or other proceeding against the Concessioner for the appointment of a trustee, receiver, or liquidator, or, the taking by any person or entity of the rights granted by this Contract or any part thereof upon execution, attachment or other process of law or equity. For purposes of the bankruptcy statutes, SERVICE considers that this Contract is not a lease but an executory contract exempt from inclusion in assets of Concessioner pursuant to 11 U.S.C. 365.
Notice of Bankruptcy or Insolvency. 1) The Concessionaire shall give Reclamation immediate written notice (within five (5) days) after the filing of any petition in bankruptcy, filing any petition seeking relief of the same or different kind under any provision of the Bankruptcy Act or its successor, or making any assignment for the benefit of creditors. The Concessionaire shall also give Reclamation immediate written notice of any petition or other proceeding against the Concessionaire for the appointment of a trustee, receiver, or liquidator or the taking by any person or entity of the rights granted by this contract or any part thereof upon execution, attachment, or other process of law or equity. For purposes of the bankruptcy statues, Reclamation considers that this Contract is not a lease but an executory contract exempt from inclusion in assets of Concessionaire pursuant to Chapter 11 U.S.C. 365.
