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Common use of Voluntary Bankruptcy or Insolvency Proceedings Clause in Contracts

Voluntary Bankruptcy or Insolvency Proceedings. The Company (i) makes a general assignment for the benefit of its creditors or (ii) commences a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consents to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it;

Appears in 2 contracts

Samples: Promissory Note (RoyaltyTraders LLC), Promissory Note (RoyaltyTraders LLC)

Voluntary Bankruptcy or Insolvency Proceedings. The Company (i) makes a general assignment for the benefit of its creditors or (ii) commences shall commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect effect, including without limitation, any assignment for the benefit of its creditors or consents consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it;

Appears in 2 contracts

Samples: Put Option Agreement (Intercloud Systems, Inc.), Put Option Agreement (Intercloud Systems, Inc.)

Voluntary Bankruptcy or Insolvency Proceedings. The Company (i) makes a general assignment for the benefit of its creditors or (ii) commences a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consents to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it;; or

Appears in 2 contracts

Samples: Convertible Promissory Note (RoyaltyTraders LLC), Note Purchase Agreement (RoyaltyTraders LLC)