Common use of Voluntary Bankruptcy Clause in Contracts

Voluntary Bankruptcy. The commencement by the Company of a voluntary case under the Bankruptcy Code or any foreign, federal or state insolvency or similar laws or the consent by the Company to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, or similar official for Company of any of the property of the Company or the making by the Company of an assignment for the benefit of creditors, or the failure by the Company generally to pay its debts as the debts become due.

Appears in 39 contracts

Samples: Security Agreement (NovAccess Global Inc.), Security Agreement (Ilustrato Pictures International Inc.), Security Agreement (Growlife, Inc.)

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Voluntary Bankruptcy. The commencement by the Company Borrower of a voluntary case under the Bankruptcy Code or any foreign, federal or state insolvency or similar laws Laws or the consent by the Company Borrower to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, custodian or similar official for Company Borrower of any of the property of the Company Borrower, or the making by the Company Borrower of an assignment for the benefit of creditorsa creditor, or the failure by the Company a Borrower generally to pay its debts as the debts become due.

Appears in 4 contracts

Samples: Loan and Security Agreement (Mammoth Energy Partners LP), Loan and Security Agreement (Mammoth Energy Partners LP), Loan and Security Agreement (Mammoth Energy Partners LP)

Voluntary Bankruptcy. The commencement by the any Company of a voluntary case under the Bankruptcy Code or any foreign, federal or state insolvency or similar laws or the consent by the any Company to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, or similar official for any Company of any of the property of the Company or the making by the any Company of an assignment for the benefit of creditors, or the failure by the any Company generally to pay its debts as the debts become due.

Appears in 3 contracts

Samples: Secu Rity Agre Ement (Millennium Healthcare Inc.), Security Agreement (Cyclone Power Technologies Inc), Security Agreement (POSITIVEID Corp)

Voluntary Bankruptcy. The commencement by the Company of shall commence a voluntary case under the Bankruptcy Code or any foreign, federal or state insolvency or similar laws or the consent by the Company to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodianbankruptcy laws, or similar official for Company of any of the property of the Company or the making by the Company of shall make an assignment for the benefit of creditors, or shall apply for, consent to or acquiesce in the failure by the Company generally to pay appointment of, or taking possession by, a trustee, receiver, custodian or similar official or agent for itself or any substantial part of its debts as the debts become dueproperty.

Appears in 3 contracts

Samples: Loan and Trust Agreement (Teco Energy Inc), Loan and Trust Agreement (Tampa Electric Co), Loan and Trust Agreement (Teco Energy Inc)

Voluntary Bankruptcy. The commencement by the Company Borrower of a voluntary case under the Bankruptcy Code federal bankruptcy laws or any foreign, federal or state insolvency or similar laws or the consent by the Company Borrower to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, or similar official for Company Borrower of any of the property of the Company Borrower or the making by the Company Borrower of an assignment for the benefit of creditors, or the failure by the Company Borrower generally to pay its debts as the debts become due.

Appears in 2 contracts

Samples: General Business Security Agreement, General Business Security Agreement (Cancer Genetics, Inc)

Voluntary Bankruptcy. The commencement by the Company Debtor of a voluntary case under the Bankruptcy Code federal bankruptcy laws or any foreign, federal or state insolvency or similar laws or the consent by the Company Debtor to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, or similar official for Company Debtor of any of the property of the Company Debtor or the making by the Company Debtor of an assignment for the benefit of creditors, or the failure by the Company Debtor generally to pay its debts as the debts become due.

Appears in 2 contracts

Samples: Security Agreement (Golden Phoenix Minerals Inc), Amended and Restated Security Agreement (Golden Phoenix Minerals Inc)

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Voluntary Bankruptcy. The commencement by the Company Borrowers, or either of them, of a voluntary case under the Bankruptcy Code or any foreign, federal or state insolvency or similar laws Laws or the consent by the Company Borrowers to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, custodian or similar official for Company Borrowers of any of the property of the Company Borrowers, or the making by the Company Borrowers of an assignment for the benefit of creditorsa creditor, or the failure by the Company a Borrowers generally to pay its debts as the debts become due.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (New Source Energy Partners L.P.)

Voluntary Bankruptcy. The commencement by the Company Tenant of a voluntary case under the Bankruptcy Code Federal bankruptcy laws or any foreign, federal or state insolvency or similar laws or the consent by the Company Tenant to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, custodian or similar official for Company of Tenant or any of Tenant's property, including but not limited to the property of the Company Premises, or the making by the Company Tenant of an assignment for the benefit of of, creditors, or the failure by the Company Tenant generally to pay its Tenant's debts as the debts and when they become due.;

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Maxwell Technologies Inc), Facility Lease (Primex Technologies Inc)

Voluntary Bankruptcy. The commencement by the Company Debtor of a voluntary case under the Bankruptcy Code federal bankruptcy laws or any foreign, federal or state insolvency or similar laws or the consent by the Company Debtor to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, custodian or similar official for Company Debtor of any of the property of the Company Debtor or the making by the Company Debtor of an assignment for the benefit of creditors, or the failure by the Company Debtor generally to pay its debts as the debts become due.

Appears in 1 contract

Samples: Guaranty Agreement (Adera Mines LTD)

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