Voluntary Bankruptcy or Insolvency. If any Loan Party, including Borrower, shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, shall consent to the entry of an order for relief in an involuntary case under any such law, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian (or other similar official) of any Loan Party, including Borrower, or for any substantial part of the Loan Parties’ property, or shall make a general assignment for the benefit of creditors, or shall take any corporate action in furtherance of any of the foregoing.
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Samples: Loan and Security Agreement (Vertex Energy Inc.), Loan and Security Agreement (Vertex Energy Inc.), Loan and Security Agreement (Vertex Energy Inc.)
Voluntary Bankruptcy or Insolvency. If Borrower or any Subsidiary shall commence an Insolvency Proceeding against any Loan Party, including Borrower, shall commence a voluntary case under Party or any applicable bankruptcy, insolvency property or other similar law now assets thereof or hereafter in effect, shall consent to the entry of an order for relief in an involuntary case under any such lawunder any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian (or other similar official) of any Loan Party, including Borrower, Party or for any substantial part of the Loan Parties’ its property, or shall make a general assignment for the benefit of creditors, or shall take any corporate action in furtherance of any of the foregoing.
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