Common use of Notification of Bankruptcy Clause in Contracts

Notification of Bankruptcy. If WEST or any Subsidiary shall take any action to: (a) file any petition or application, commence any proceeding, pass any resolution or convene a meeting with respect to itself or any of its Affiliates under any United States federal, state or foreign or international law relating to the appointment of a trustee in bankruptcy, liquidator, examiner, assignee, custodian, trustee, sequestrator or receiver with respect to WEST or any Subsidiary or over the whole or any part of any properties or assets of WEST or any Subsidiary or any bankruptcy, reorganization, compromise arrangements or insolvency of WEST or any Subsidiary; or (b) make an assignment for the benefit of its creditors generally; then WEST shall notify the Servicer, to the extent practicable, of the taking of any such action. If WEST or any Subsidiary becomes aware of the intent or action of any Person (whether a creditor or member of WEST or any Subsidiary) to appoint a trustee in bankruptcy, liquidator, examiner, custodian, sequestrator or receiver, WEST shall promptly notify the Servicer.

Notification of Bankruptcy. If WEST or any Subsidiary Person within the Serviced Group shall take any action to: (a) file any petition or application, commence any proceeding, pass any resolution or convene a meeting with respect to itself or any of its Affiliates under any United States federal, state or foreign or international law relating to the appointment of a trustee in bankruptcy, liquidator, examiner, assignee, custodian, trustee, sequestrator or receiver with respect to WEST or any Subsidiary Person within the Serviced Group or over the whole or any part of any properties or assets of WEST or any Subsidiary Person within the Serviced Group or any bankruptcy, reorganization, compromise arrangements or insolvency of WEST or any SubsidiaryPerson within the Serviced Group; or (b) make an assignment for the benefit of its creditors generally; then WEST shall notify the Servicer, to the extent practicable, of the taking of any such action. If WEST or any Subsidiary Person within the Serviced Group becomes aware of the intent or action of any Person (whether a creditor or member of WEST or any SubsidiaryPerson within the Serviced Group) to appoint a trustee in bankruptcy, liquidator, examiner, custodian, sequestrator or receiver, WEST shall promptly notify the Servicer.