Common use of Voluntary Insolvency Clause in Contracts

Voluntary Insolvency. if the Borrower or any Material Subsidiary makes any assignment in bankruptcy or makes any other assignment for the benefit of creditors, makes any proposal (or files a notice of intention to make a proposal) under the Bankruptcy and Insolvency Act (Canada) or any comparable law, seeks relief under the Companies’ Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act (Canada) or any other bankruptcy, insolvency, corporate or analogous law, files a petition or proposal to take advantage of any act of insolvency by it, consents to or acquiesces in the appointment of a trustee in bankruptcy, receiver, receiver and manager, interim receiver, custodian, monitor, sequestrator, liquidator or other person with similar powers over itself or over all or any substantial portion of its assets, or files a petition, application or otherwise commences any proceeding seeking any reorganization, arrangement, composition, administration, compromise, restructuring, arrangement or readjustment under any applicable bankruptcy, insolvency, moratorium, reorganization, corporate or other similar law affecting creditors’ rights (including an arrangement or proceeding under the Canada Business Corporations Act or the Business Corporations Act (Alberta) or any other analogous provincial or federal statute, as applicable) or consents to, or acquiesces in, the filing of such assignment, proposal, application, relief, petition, proposal, appointment or proceeding;

Voluntary Insolvency. if the Borrower or any Material Subsidiary makes any assignment in bankruptcy or makes any other assignment for the benefit of creditors, makes any proposal (or files a notice of intention to make a proposal) under the Bankruptcy and Insolvency Act (Canada) or any comparable law, seeks relief under the Companies’ ' Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act (Canada) or any other bankruptcy, insolvency, corporate insolvency or analogous law, files a petition or proposal to take advantage of any act of insolvency by itinsolvency, consents to or acquiesces in the appointment of a trustee in bankruptcy, receiver, receiver and manager, interim receiver, custodian, monitor, sequestrator, liquidator or other person with similar powers over of itself or over of all or any substantial portion of its assets, or files a petition, application petition or otherwise commences any proceeding seeking any reorganization, arrangement, composition, administration, compromise, restructuring, arrangement or readjustment under any applicable bankruptcy, insolvency, moratorium, reorganization, corporate reorganization or other similar law affecting creditors’ ' rights (including an arrangement or proceeding under the Canada Business Corporations Act or the Business Corporations Act (Alberta) or any other analogous provincial or federal statute, as applicable) or consents to, or acquiesces in, the filing of such assignment, proposal, application, relief, petition, proposal, appointment or proceeding;

Voluntary Insolvency. if the Borrower or any Material Subsidiary makes any assignment in bankruptcy or makes any other assignment for the benefit of creditors, makes any proposal (or files a notice of intention to make a proposal) under the Bankruptcy and Insolvency Act (Canada) or any comparable law, seeks relief under the Companies’ Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act (Canada) or any other bankruptcy, insolvency, corporate insolvency or analogous law, files a petition or proposal to take advantage of any act of insolvency by itinsolvency, consents to or acquiesces in the appointment of a trustee in bankruptcy, receiver, receiver and manager, interim receiver, custodian, monitor, sequestrator, liquidator or other person with similar powers over of itself or over of all or any substantial portion of its assets, or files a petition, application petition or otherwise commences any proceeding seeking any reorganization, arrangement, composition, administration, compromise, restructuring, arrangement or readjustment under any applicable bankruptcy, insolvency, moratorium, reorganization, corporate reorganization or other similar law affecting creditors’ rights (including an arrangement or proceeding under the Canada Business Corporations Act or the Business Corporations Act (Alberta) or any other analogous provincial or federal statute, as applicable) or consents to, or acquiesces in, the filing of such assignment, proposal, application, relief, petition, proposal, appointment or proceeding;

Voluntary Insolvency. if the Borrower or any Material Subsidiary generally does not pay its debts as such debts become due, admits in writing its inability to pay its debts generally, makes any assignment in bankruptcy or makes any other assignment for the benefit of creditors, makes any proposal (or files a notice of intention to make a proposal) under the Bankruptcy and Insolvency Act (Canada) or any comparable law, seeks relief under the Companies’ Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act (Canada) or any other bankruptcy, insolvency, corporate insolvency or analogous law, files a petition or proposal to take advantage of any act of insolvency by itinsolvency, consents to or acquiesces in the Trident - Unsecured Credit Agreement appointment of a trustee in bankruptcy, receiver, receiver and manager, interim receiver, custodian, monitor, sequestrator, liquidator sequestrator or other person Person with similar powers over of itself or over of all or any substantial portion of its assets, or files a petition, application petition or otherwise commences any proceeding seeking any reorganization, arrangement, composition, administration, compromise, restructuring, arrangement administration or readjustment under any applicable bankruptcy, insolvency, moratorium, reorganization, corporate reorganization or other similar law affecting creditors’ rights (including an arrangement or proceeding under the Canada Business Corporations Act or the Business Corporations Act (Alberta) or any other analogous provincial or federal statute, as applicable) or consents to, or acquiesces in, the filing of such assignment, proposal, application, relief, petition, proposal, appointment or proceeding;

Voluntary Insolvency. if the Borrower or any Material Subsidiary makes any assignment in bankruptcy or makes any other assignment for the benefit of creditors, makes any proposal (or files a notice of intention to make a proposal) under the Bankruptcy and Insolvency Act (Canada) or any comparable law, seeks relief under the Companies’ Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act (Canada) or any other bankruptcy, insolvency, corporate or analogous law, files a petition or proposal to take advantage of any act of insolvency by it, consents to or acquiesces in the appointment of a trustee in bankruptcy, receiver, receiver and manager, interim receiver, custodian, sequestrator, monitor, sequestrator, liquidator or other person with similar powers over itself or over all or any substantial portion of its assets, or files a petition, application or otherwise commences any proceeding seeking any reorganization, arrangement, composition, administration, compromise, restructuring, arrangement or readjustment under any applicable bankruptcy, insolvency, moratorium, reorganization, corporate or other similar law affecting creditors’ rights (including an arrangement or proceeding under the Canada Business Corporations Act or the Business Corporations Act (Alberta) or any other analogous provincial or federal statute, as applicable) or consents to, or acquiesces in, the filing of such assignment, proposal, application, relief, petition, proposal, application appointment or proceeding;

Voluntary Insolvency. if the Borrower, any partner of the Borrower or any Material Subsidiary makes any assignment in bankruptcy or makes any other assignment for the benefit of creditors, makes any proposal (or files a notice of intention to make a proposal) under the Bankruptcy and Insolvency Act (Canada) or any comparable law, seeks relief under the Companies’ Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act (Canada) or any other bankruptcy, insolvency, corporate insolvency or analogous law, files a petition or proposal to take advantage of any act of insolvency by it, consents to or acquiesces in the appointment of a trustee in bankruptcy, receiver, receiver and manager, interim receiver, custodian, monitor, sequestrator, liquidator or other person with similar powers over itself or over all or any substantial portion of its assets, or files a petition, application petition or otherwise commences any proceeding seeking any reorganization, arrangement, composition, administration, compromise, restructuring, arrangement restructuring or readjustment under any applicable bankruptcy, insolvency, moratorium, reorganization, corporate reorganization or other similar law affecting creditors’ rights (including an arrangement or proceeding under the Canada Business Corporations Act or the Business Corporations Act (Alberta) or any other analogous provincial or federal statute, as applicable) or consents to, or acquiesces in, the filing of such assignment, proposal, application, relief, petition, proposal, appointment or proceeding;