Receivership and Administration. Subject to Clause 14.2,
(a) an application is made for the appointment of an administrator (as such term is used in the Insolvency Act 1986) or similar official in relation to any Obligor or a resolution is passed by the directors or shareholders of ChiRex Inc. or any such Obligor for such an application to be made;
(b) a liquidator, trustee, administrative or other receiver, manager (being a person acting on behalf of all or any creditors), judicial factor, manager for credits, or similar officer is appointed in respect of (or takes possession of) any Obligor or in respect of (or takes possession of) all or any part of its assets; or
(c) any distress, execution, attachment (other than an attachment or arrest to found jurisdiction) or other process affects any asset of any Obligor, except where such Obligor is, in good faith, reasonably contesting such distress, execution, attachment or other process by proceedings diligently pursued and such distress, execution, attachment or other process is discharged or stayed within 30 days.
Receivership and Administration. (i) A receiver or administrator or similar officer is appointed over or in respect of all or substantially all of the business or assets of any Material Group Company or (ii) a petition is presented or meeting convened or application made or other step taken for the purpose of appointing an administrator or other similar officer of, or for the making of an administration order in respect of any Material Group Company or (iii) a petition is presented or meeting convened or application made or other step taken for the purpose of appointing a receiver or other similar officer of, any Material Group Company and such petition or application is not discharged within 7 days (provided that during such time such proceedings are contested in good faith).
Receivership and Administration. (a) Any insolvency administrator (Insolvenzverwalter) or interim insolvency administrator (Vorläufiger Insolvenzverwalter) or a receiver or administrator or other similar officer (including a mandataire ad hoc, conciliateur, administrateur or mandataire judiciaire au redressement et à la liquidation des entreprises or a vremenriy upravlyaushchiy, administrativniy upravlyaushchiy, vnesh-niy upravlyaushchiy or konkursniy upravlyaushchiy) liquidation commission (likvidatsionnaya komissiya) or liquidator (likvidator) is appointed over or in respect of all or any part of the business or assets of Luxco 1, the Parent, any Obligor or any other Material Subsidiary.
(b) A petition is presented or meeting convened or application made for the purpose of appointing an insolvency administrator, interim insolvency administrator or receiver or administrator or other similar officer (including a mandataire ad hoc, conciliateur, admnistrateur or mandataire judiciaire au redressement et à la liquidation des entreprises or a vremenriy upravlyaushchiy, administrativniy upravlyaushchiy, vnesh-niy upravlyaushchiy or konkursniy upravlyaushchiy), liquidation commission (likvidatsionnaya komissiya) or liquidator (likvidator) of, or for the making of an administration order in respect of, Luxco 1, the Parent, any Obligor or any other Material Subsidiary and:
(i) (other than in the case of a petition to appoint an administrator) such petition or application (unless frivolous or vexatious) is not contested on bona fide grounds with due diligence and, in the case of any such petition or application (whether or not frivolous) is not stayed or discharged within 20 days; or
(ii) in the case of a petition to appoint an administrator, the Facility Agent is not satisfied that it will be withdrawn before it is heard or will be unsuccessful.
(c) In relation to an Obligor or any other Material Subsidiary organised under the laws of the Russian Federation, the institution of bankruptcy prevention measures, (including prejudicial sanation (dosudebnaya sanatsiya)), supervision (nablyudeniye), financial rehabilitation (finansovoe ozdorovlenie), external management (vneshneye upravleniye), bankruptcy management (konkursnoye proizvodstvo) of the Obligor or Material Subsidiary or the convening or announcement of an intention to convene a meeting of creditors of the Obligor or Material Subsidiary for the purposes of considering an amicable settlement (mirovoye soglasheniye), as the above terms are def...
Receivership and Administration. (i) Any encumbrancer takes possession of, or a receiver or administrator or similar officer is appointed over or in respect of all or any part of the business or assets of any Material Group Company; or
(ii) A petition is presented or meeting convened or application made for the purpose of appointing an administrator or receiver or other similar officer of, or for the making of an administration order in respect of, any Material Group Company and:-
(1) (other than in the case of a petition to appoint an administrator) such petition or application is not discharged within 14 days; or
(2) in the case of a petition to appoint an administrator, the Facility Agent is satisfied that it will be discharged before it is heard.
Receivership and Administration. (i) Any encumbrancer takes possession of, or a receiver, administrative receiver or administrator or similar officer is appointed in any jurisdiction over or in relation to, all or any material part of the assets of any Obligor.
(ii) A meeting is convened or an application or petition is made or filed for the purpose of appointing a receiver, administrative receiver or other similar officer of or in relation to any Obligor.
(iii) An application is made or any other such document is issued, a meeting is convened, or any other step is taken, or any notice is given of the intention to convene a meeting or take any other step, for the purpose of appointing an administrator or other similar officer of, or for the making of an administration order in relation to any Obligor.
Receivership and Administration. (a) Any encumbrancer, receiver or similar officer takes possession of, or is appointed over or in respect of (or any petition is presented or meeting convened or application made for the purpose of any such appointment over or in respect of):
(i) all or substantially all of the business or assets of any Group Company; or
(ii) subject to Clause 20.2 (Excluded Events), any part (not comprising all or substantially all) of the business or assets of any Group Company.
(b) An administrator or similar officer is appointed over or in respect of any Group Company or any petition is presented or meeting convened or application made for the purpose of appointing an administrator or other similar officer of, or for the making of an administration order in respect of, any Group Company.
Receivership and Administration. (i) Any encumbrancer takes possession of, or a receiver or administrator or similar officer (a conciliateur or an administrateur provisoire or a mandataire ad hoc) is appointed over or in relation to, all or any part of the assets of any Group Company.
(ii) A petition is presented, a meeting is convened, an application is made or any other step is taken for the purpose of appointing an administrator or receiver or other similar officer (a conciliateur or an administrateur provisoire or a mandataire ad hoc) of, or for the making of an administration order in relation to any Group Company, in each case unless such proceedings are discharged or stayed within 15 days.
Receivership and Administration. (i) Any encumbrancer takes possession of, or a receiver or administrator or similar officer is appointed over or in relation to, all or any part of the assets of any Material Subsidiary or Material Excluded Company.
(ii) A petition is presented, a meeting is convened, an application is made or any other step is taken for the purpose of appointing an administrator or receiver or other similar officer of, or for the making of an administration order in relation to any Material Subsidiary or Material Excluded Company and:
(A) (other than in the case of a petition to appoint an administrator) such petition or application is not discharged within 10 days; or
(B) in the case of a petition to appoint an administrator, the Facility Agent is not satisfied that it will be discharged before it is heard.
Receivership and Administration. No receiver (including an administrative receiver), trustee or administrator has been appointed of the whole or any part of the assets or undertaking of the Company and none of the Vendors is aware of any circumstances likely to give rise to the appointment of any such receiver, trustee or administrator.
Receivership and Administration. (i) Any encumbrancer takes possession of, or a receiver or administrator or similar officer is appointed over or in relation to, all or any part of the assets of Bidco 1, Bidco 2, Target or any Material Subsidiary or Debtco (if it is the Principal Borrower).
(ii) A petition is presented, a meeting is convened, an application is made or any other step is taken for the purpose of appointing an administrator or receiver or other similar officer of, or for the making of an administration order in relation to Debtco (if it is the Principal Borrower), Bidco 1, Bidco 2, Target or any Material Subsidiary.
(iii) Bidco 1, Bidco 2, Target or any Material Subsidiary incorporated in France is the object of a judgement declaring its redressement judiciaire or is subject to a plan for the transfer of the whole or any material part of its business.
