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. In the event the Contractor becomes insolvent or files or has filed against it a petition in bankruptcy, whether voluntary or involuntary, the Contractor agrees to furnish, by certified mail or electronic commerce method authorized by the Contract, written notification of such to the Contracting Officer. This notification shall be furnished as soon as possible, but in no event more than ten (10) days of the initiation of the proceedings relating to bankruptcy filing or when the insolvency is discovered. This notification shall include the date on which the bankruptcy petition was filed, the identity of the court in which the bankruptcy petition was filed, contact information for the Bankruptcy Trustee and a listing of all Authority Contract numbers for all Authority contracts against which final payment has not been made. This obligation remains in effect until final payment under this Contract.
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.
2) Reclamation may terminate this Contract upon the filing or the execution of a petition in bankruptcy by or against the Concessionaire, a petition seeking relief of the same or different kind under any provision of the Bankruptcy Act or its successor, an assignment by the Concessionaire for the benefit of creditors, a 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 the law or equity. Reclamation may terminate this Contract if Reclamation determines that the Concessionaire is unable to perform the terms of the Contract because of bankruptcy or insolvency.
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.
