Common use of Voluntary Bankruptcy; Appointment of Receiver, Etc Clause in Contracts

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 28 contracts

Samples: Credit Agreement (Spartan Stores Inc), Credit Agreement (Kansas City Power & Light Co), Credit Agreement (Finishmaster Inc)

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Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Company or any of the BorrowerCompany's Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 13 contracts

Samples: Credit Agreement (Trimble Navigation LTD /Ca/), Credit Agreement (Chicago Bridge & Iron Co N V), Credit Agreement (Lanier Worldwide Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Company, any of the Company’s Significant Domestic Incorporated Subsidiaries or any of the Borrower's Company’s Significant Foreign Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 10 contracts

Samples: Credit Agreement (Woodward, Inc.), Credit Agreement (Woodward, Inc.), Credit Agreement (Woodward, Inc.)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's ’s Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 6 contracts

Samples: Credit Agreement (Schawk Inc), Credit Agreement (Schawk Inc), Credit Agreement (Alion Science & Technology Corp)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other similar custodian for the benefit of creditors for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 6 contracts

Samples: Credit Agreement (Lithia Motors Inc), Credit Agreement (Lithia Motors Inc), Credit Agreement (Sonic Automotive Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Company or any of the Borrower's its Significant Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 5 contracts

Samples: Credit Agreement (Steelcase Inc), Credit Agreement (Steelcase Inc), Credit Agreement (Steelcase Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Company or any of the Borrower's Company’s Subsidiaries (other than an Insignificant Subsidiary) shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors creditors, or (v) take any corporate action to authorize any of the foregoing.

Appears in 4 contracts

Samples: Five Year Credit Agreement (Trimble Navigation LTD /Ca/), Credit Agreement (Trimble Navigation LTD /Ca/), Credit Agreement (Trimble Navigation LTD /Ca/)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Company or any of the Borrower's its Subsidiaries (other than an Insignificant Subsidiary) shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors creditors, or (v) take any corporate action to authorize any of the foregoing.;

Appears in 4 contracts

Samples: Term Loan Credit Agreement (Trimble Inc.), Credit Agreement (Trimble Inc.), Credit Agreement (Trimble Inc.)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Company or any of the Borrower's Company’s Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 4 contracts

Samples: Term Loan Agreement (Chicago Bridge & Iron Co N V), Credit Agreement (Chicago Bridge & Iron Co N V), Credit Agreement (Chicago Bridge & Iron Co N V)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or creditors, (v) take any corporate action to authorize any of the foregoingforegoing or (vi) is generally not paying, or admits in writing its inability to pay, its debts as they become due.

Appears in 3 contracts

Samples: Credit Agreement (Catalina Marketing Corp/De), Credit Agreement (Huttig Building Products Inc), Credit Agreement (Catalina Marketing Corp/De)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Either of the Borrowers or any of the Borrower's their respective Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 3 contracts

Samples: Credit Agreement (Marsh Supermarkets Inc), Credit Agreement (Marsh Supermarkets Inc), Credit Agreement (Marsh Supermarkets Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's its Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate corporate, partnership or comparable action to authorize any of the foregoing.

Appears in 3 contracts

Samples: Credit Agreement (Wabash National Corp /De), Credit Agreement (Wabash National Corp /De), 364 Day Credit Agreement (Wabash National Corp /De)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Company or any of the BorrowerCompany's Material Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 2 contracts

Samples: 364 Day Credit Agreement (American National Can Group Inc), 5 Year Revolving Credit Agreement (American National Can Group Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Holdings, the Borrower or any of the Borrower's Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 2 contracts

Samples: Credit Agreement (SCP Pool Corp), Credit Agreement (SCP Pool Corp)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's Subsidiaries Material Subsidiary shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 2 contracts

Samples: Short Term Credit Agreement (Ball Corp), Long Term Credit Agreement (Ball Corp)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Holdings, Enterprises, the Borrower or any of the Borrower's Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 2 contracts

Samples: Credit Agreement (Printpack Inc), Credit Agreement (Printpack Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's Material Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 2 contracts

Samples: Credit Agreement (Binks Sames Corp), Credit Agreement (Binks Sames Corp)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Any Borrower or any of the Borrower's Significant Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 2 contracts

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

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Company or any of the Borrower's Company’s Subsidiaries (other than an Insignificant Subsidiary) shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 2 contracts

Samples: Credit Agreement (Trimble Navigation LTD /Ca/), Credit Agreement (Trimble Navigation LTD /Ca/)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's Subsidiaries Any Transaction Party shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other similar custodian for the benefit of creditors for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 2 contracts

Samples: Credit Agreement (Asbury Automotive Group Inc), Credit Agreement (Asbury Automotive Group Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Brightpoint or any of the Borrower's its Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 2 contracts

Samples: Multicurrency Credit Agreement (Brightpoint Inc), Credit Agreement (Brightpoint Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's its Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or creditors, (v) take any corporate or similar action to authorize any of the foregoingforegoing or (vi) is generally not paying, or admits in writing its inability to pay, its debts as they become due.

Appears in 2 contracts

Samples: Credit Agreement (Steiner Leisure LTD), Credit Agreement (Steiner Leisure LTD)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Holdings, the Borrower or any of the Borrower's Restricted Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 2 contracts

Samples: Credit Agreement (Gfsi Inc), Credit Agreement (Gfsi Inc)

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Voluntary Bankruptcy; Appointment of Receiver, Etc. The Either Borrower or any of the Borrower's ’s Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effecteffect (including, without limitation, under Japanese insolvency laws), (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or creditors, (v) take any corporate action to authorize any of the foregoingforegoing or (vi) is generally not paying, or admits in writing its inability to pay, its debts as they become due.

Appears in 1 contract

Samples: Credit Agreement (Catalina Marketing Corp/De)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's its Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (American Medserve Corp)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Any Borrower or any of the Borrower's Subsidiaries --------------------------------------------------- shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Pacer International Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Any Borrower or any of the Borrower's ’s Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate or company action to authorize any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Finish Line Inc /In/)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Parent, the Borrower or any of the Borrower's their respective Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Archibald Candy Corp)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Parent or any of the Borrower's its Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or creditors, (v) take any corporate action to authorize any of the foregoingforegoing or (vi) is generally not paying, or admits in writing its inability to pay, its debts as they become due.

Appears in 1 contract

Samples: Credit Agreement (Sybron Dental Specialties Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Holdings or any of the Borrower's its Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate corporate, partnership or comparable action to authorize any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Aas Capital Corp)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Any Borrower or any of the such Borrower's Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any -74- 82 assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (American Architectural Products Corp)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or any of the Borrower's ’s Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other similar custodian for the benefit of creditors for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Sonic Automotive Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Brightpoint or any of the Borrower's its Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such 112 122 law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Brightpoint Inc)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower or -------------------------------------------------- any of the Borrower's Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Roper Industries Inc /De/)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Company or any of the Borrower's Significant Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee 77 or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Kaydon Corp)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Borrower Company or any of the Borrower's Significant Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or (v) take any corporate action to authorize any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Kaydon Corp)

Voluntary Bankruptcy; Appointment of Receiver, Etc. The Either Borrower or any of the Borrower's Subsidiaries shall (i) commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effecteffect (including, without limitation, under Japanese insolvency laws), (ii) consent to the entry of an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such law, (iii) consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property, (iv) make any assignment for the benefit of creditors or creditors, (v) take any corporate action to authorize any of the foregoingforegoing or (vi) is generally not paying, or admits in writing its inability to pay, its debts as they become due.

Appears in 1 contract

Samples: Credit Agreement (Catalina Marketing Corp/De)

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