Common use of Payment of Proceeds Upon Dissolution Clause in Contracts

Payment of Proceeds Upon Dissolution. In the event of (i) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company or to its creditors, as such, or to its assets, or (ii) any liquidation, dissolution or other winding up of the Company, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (iii) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the Company, then and in any such event:

Appears in 3 contracts

Samples: Collateral Agency Agreement (PPL Electric Utilities Corp), Collateral Agency and Intercreditor Agreement (Aes Red Oak LLC), Collateral Agency and Intercreditor Agreement (Aes Ironwood LLC)

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Payment of Proceeds Upon Dissolution. In the event of (ia) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company Debtor or to its creditors, as such, or to its assets, or (iib) any liquidation, dissolution or other winding up of the CompanyDebtor, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (iiic) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the CompanyDebtor, then and in any such event:

Appears in 3 contracts

Samples: Credit Agreement (Viad Corp), Credit Agreement (Viad Corp), Credit Agreement (Viad Corp)

Payment of Proceeds Upon Dissolution. In the event of (ia) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company ClientLogic or to its creditors, as such, or to its assets, or (iib) any liquidation, dissolution or other winding up of the CompanyClientLogic, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (iiic) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of any of the CompanyBorrrowers, then and in any such event:

Appears in 1 contract

Samples: Credit Agreement (Catalog Resources, Inc.)

Payment of Proceeds Upon Dissolution. In the event of (ia) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company any Obligor or to its creditors, as such, or to its assets, or (iib) any liquidation, dissolution or other winding up of the Companyany Obligor, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (iiic) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the Companyany Obligor, then and in any such event:

Appears in 1 contract

Samples: Subordination Agreement (Princeton Review Inc)

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Payment of Proceeds Upon Dissolution. In the event of (ia) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company Borrower or to its creditors, as such, or to its assets, or (iib) any liquidation, dissolution or other winding up of the CompanyBorrower, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (iiic) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the CompanyBorrower, then and in any such event:

Appears in 1 contract

Samples: Security Agreement (Jubilant Generics Inc.)

Payment of Proceeds Upon Dissolution. In the event of (ia) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company or to its creditors, as such, any Obligor or to its assets, or (iib) any liquidation, dissolution or other winding up of the Companyany Obligor, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (iiic) any assignment for the benefit of creditors or any other marshalling marshaling of assets and liabilities of the Companyany Obligor, then and in any such event:

Appears in 1 contract

Samples: Subordination Agreement (Clientlogic Corp)

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