Common use of Voluntary Bankruptcy Clause in Contracts

Voluntary Bankruptcy. The Borrower makes an assignment for the benefit of creditors, files a petition in bankruptcy, petitions or applies to any tribunal for any receiver or any trustee of the Borrower or any substantial part of the property of the Borrower or commences any proceeding relating to the Borrower under any reorganization, arrangement, composition, readjustment, liquidation or dissolution law or statute of any jurisdiction, whether in effect now or after this Agreement is executed;

Appears in 8 contracts

Samples: Term Loan and Security Agreement (AeroGrow International, Inc.), Term Loan and Security Agreement (AeroGrow International, Inc.), Term Loan and Security Agreement (AeroGrow International, Inc.)

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Voluntary Bankruptcy. The Filing by Borrower makes an assignment for the benefit or any Subsidiaries of creditors, files a petition in voluntary bankruptcy or seeking relief under any provision of any bankruptcy, petitions or applies to any tribunal for any receiver or any trustee of the Borrower or any substantial part of the property of the Borrower or commences any proceeding relating to the Borrower under any reorganization, insolvency, arrangement, compositionreadjustment of debt, readjustment, dissolution or liquidation or dissolution law or statute of any jurisdiction, whether in effect now or after this Agreement is executed;hereafter in effect, or consenting to the filing of any petition against it under any such law, or taking any corporate action to authorize such action.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Odyssey Marine Exploration Inc), Revolving Credit Agreement (Odyssey Marine Exploration Inc), Revolving Credit Agreement (Odyssey Marine Exploration Inc)

Voluntary Bankruptcy. The If the Borrower or the Grantor makes an assignment for the benefit of creditors, files a petition in bankruptcy, petitions or applies to any tribunal for any receiver or any trustee of the Borrower or the Grantor or any substantial part of the property of the Borrower or the Grantor, or commences any proceeding relating to the Borrower or the Grantor under any reorganization, arrangement, composition, readjustment, liquidation or dissolution law or statute of any jurisdiction, whether in effect now or after this Agreement is executed;

Appears in 2 contracts

Samples: Credit Agreement (Cuisine Solutions Inc), Credit Agreement (Cuisine Solutions Inc)

Voluntary Bankruptcy. The If Borrower makes an assignment for the benefit of creditors, files a voluntary petition in bankruptcy, petitions or applies to any tribunal for any receiver or any trustee of the Borrower or any substantial part of the property of the Borrower Borrower, or commences any proceeding relating to the Borrower under any reorganization, arrangement, composition, readjustment, liquidation or dissolution law or statute of any jurisdiction, whether in effect now or after this Agreement is executed;

Appears in 1 contract

Samples: Loan Agreement (FRP Holdings, Inc.)

Voluntary Bankruptcy. The If any Borrower makes an assignment for the benefit of creditors, files a petition in bankruptcy, petitions or applies to any tribunal for any receiver or any trustee of the such Borrower or any substantial part of the property of the Borrower such Borrower, or commences any proceeding relating to the such Borrower under any reorganization, arrangement, composition, readjustment, liquidation or dissolution law or statute of any jurisdiction, whether in effect now or after this Agreement is executed;

Appears in 1 contract

Samples: Loan Agreement (American Defense Systems Inc)

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Voluntary Bankruptcy. The Borrower makes an assignment for the benefit of creditors, files a petition in bankruptcy, petitions or applies to any tribunal for any receiver or any trustee of the Borrower or any substantial part of the property of the Borrower or commences any proceeding relating to the Borrower under any reorganization, arrangement, composition, readjustment, liquidation or dissolution law or statute of any jurisdiction, whether in effect now or after this Agreement is executed;; (f)

Appears in 1 contract

Samples: Term Loan and Security Agreement

Voluntary Bankruptcy. The Borrower makes an assignment for the benefit of creditors, files a petition in bankruptcy, petitions or applies to any tribunal for any receiver or any trustee of the Borrower or any substantial part of the property of the Borrower or commences any proceeding relating to the Borrower under any reorganization, arrangement, composition, readjustment, liquidation or dissolution law or statute of any jurisdiction, whether in effect now or after this Agreement Note is executed;

Appears in 1 contract

Samples: Revolving Credit Note (Virginia Gas Co)

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