Reorganization/Receiver. An Event of Default shall exist with respect to a party if, from and after the Emergence Date, an order, judgment or decree is entered by any court of competent jurisdiction approving a petition seeking reorganization of MSC or MPM, as the case may be, or appointing a receiver, trustee or liquidator of MSC or MPM, as the case may be, of all or a substantial part of any of the assets of MSC or MPM, as the case may be, and such order, judgment or decree continues unstayed and in effect for a period of sixty (60) days from the date of entry thereof.
Appears in 4 contracts
Samples: Shared Services Agreement, Shared Services Agreement (MPM Holdings Inc.), Shared Services Agreement (Momentive Specialty Chemicals Inc.)
Reorganization/Receiver. An Event of Default shall exist with respect to a party if, from and after the Emergence Date, if an order, judgment or decree is entered by any court of competent jurisdiction approving a petition seeking reorganization of MSC or MPM, as the case may be, or appointing a receiver, trustee or liquidator of MSC or MPM, as the case may be, of all or a substantial part of any of the assets of MSC or MPM, as the case may be, and such order, judgment or decree continues unstayed and in effect for a period of sixty (60) days from the date of entry thereof.
Appears in 4 contracts
Samples: Shared Services Agreement, Shared Services Agreement, Shared Services Agreement (Momentive Performance Materials Inc.)
