Common use of NOTICE OF INVOLUNTARY BANKRUPTCY Clause in Contracts

NOTICE OF INVOLUNTARY BANKRUPTCY. Borrower shall, immediately upon learning that an involuntary petition has been filed or an action or proceeding otherwise commenced seeking reorganization, arrangement, consolidation or readjustment of the debts of Borrower or any of its Subsidiaries or for any other relief under the federal Bankruptcy Code, as amended, or under any other bankruptcy or insolvency act or law, state or federal, now or hereafter existing, notify Lender that such a petition has been filed or such action or proceeding has commenced.

NOTICE OF INVOLUNTARY BANKRUPTCY. Borrower shall, immediately promptly upon a Responsible Officer learning that an involuntary petition has been filed or an action or proceeding otherwise commenced seeking reorganization, arrangement, consolidation or readjustment of the debts of Borrower or any of its Subsidiaries or for any other relief under the federal Bankruptcy Code, as amended, or under any other bankruptcy or insolvency act or law, state or federal, now or hereafter existing, notify Lender that such a petition has been filed or such action or proceeding has commenced.

NOTICE OF INVOLUNTARY BANKRUPTCY. Borrower shall, immediately promptly upon a -------------------------------- Responsible Officer learning that an involuntary petition has been filed or an action or proceeding otherwise commenced seeking reorganization, arrangement, consolidation or readjustment of the debts of Borrower or any of its Subsidiaries or for any other relief under the federal Bankruptcy Code, as amended, or under any other bankruptcy or insolvency act or law, state or federal, now or hereafter existing, notify Lender that such a petition has been filed or such action or proceeding has commenced.