Common use of Voluntary Insolvency Clause in Contracts

Voluntary Insolvency. If the Borrower becomes insolvent or ceases to pay its debts as they mature or voluntarily files a petition seeking reorganization of its business, or the appointment of a receiver, trustee, or liquidation of a substantial portion of its assets, effects a composition or other arrangement with creditors, or be adjudicated bankrupt, or make voluntary assignment for the benefit of creditors.

Voluntary Insolvency. If the any Borrower becomes shall become insolvent or ceases shall cease to pay its debts as they mature or shall voluntarily files file a petition seeking reorganization of its businessreorganization, or the appointment of a receiver, trustee, trustee or liquidation of liquidator for it or a substantial portion of its assets, effects assets or to effect a composition plan or other arrangement with creditors, or shall be adjudicated bankrupt, or shall make a voluntary assignment for the benefit of creditors.

Voluntary Insolvency. If the Borrower becomes insolvent or ceases to pay its debts as they mature or voluntarily files a petition in bankruptcy, or a petition or an answer seeking reorganization or an arrangement with creditors or to take advantage of its businessany bankruptcy, reorganization, insolvency, readjustment of debt, dissolution or liquidation law or statute, or an answer admitting the appointment material allegations of a receiver, trusteepetition filed against it in any proceeding under any such law, or liquidation of a substantial portion of its assets, effects a composition or other arrangement with creditors, or be adjudicated bankrupt, or make voluntary assignment corporate action is taken for the benefit purpose of creditorseffecting any of the foregoing.

Voluntary Insolvency. If the Borrower becomes shall become insolvent or ceases shall cease to pay . its debts as they mature or shall voluntarily files file a petition seeking reorganization of its businessof, or the appointment of a receiver, trustee, or liquidation of for the Borrower, or a substantial portion of its assets, effects the Borrower's assets or to effect a composition plan or other arrangement with creditors, or shall be adjudicated bankrupt, or shall make a voluntary assignment for the benefit of creditors.

Voluntary Insolvency. If the Borrower becomes insolvent or ceases to pay its debts as they mature or voluntarily files a petition in bankruptcy or a petition seeking reorganization of its businessreorganization, or the appointment of a receiver, trustee, or liquidation of liquidator for it or a substantial portion of its assets, effects assets or to effect a composition plan or other arrangement with creditors, or be is adjudicated bankrupt, or make makes a voluntary assignment for the benefit of creditors.