Winding-up/Insolvency Sample Clauses

Winding-up/Insolvency. Attachment: A Party or its Credit Support Provider:
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Winding-up/Insolvency. (i) No proceedings of any nature are current or, to its knowledge, pending or threatened, for the winding-up or dissolution of, or in respect of any insolvency proceeding of any nature relating to the Borrower or any Relevant Subsidiary.
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Winding-up/Insolvency. Attachment: A Party or its Credit Support Provider: (i) is dissolved (other than pursuant to a consolidation, amalgamation or merger); (ii) becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due; (iii) makes a general assignment, arrangement or composition with or for the benefit of its creditors; (b)
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Winding-up/Insolvency. (a) The Borrower, any of the Promoters and/ or any of the Security Providers have not taken any corporate action and no other steps have been taken or legal proceedings have been started or received any notice for any legal proceedings against it for its insolvency, bankruptcy, winding-up, dissolution, administration or reorganisation or for the appointment of a receiver, administrator, insolvency professional, administrative receiver, trustee or similar officer of it or of any or all of its assets or revenues.
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Winding-up/Insolvency. DEATH 17.1 In the case of individual, on the death, mental incapacity or bankruptcy of any Hirer, the Bank may freeze or suspend the access to the Box without being liable to the Hirer until the Bank receives satisfactory evidence of the person having legal authority to access the Box. 17.2 Notwithstanding Clause 17.1, the Bank has the right to allow: 17.2.1 Any person who claims to be entitled to administer the Xxxxx’s estate to access the Box for the purpose of preparing the inventory for the application of the grant of probate or letter of administration of the Hirer’s estate; and 17.2.2 Any person who claims to be the executor of the Hirer’s estate to access the Box and procure the Hirer’s will or testamentary document. If the Bank has reason to believe that the person may not be the executor of the Hirer’s estate, the Bank may disallow that person from removing the Hirer’s will or testamentary document from the Box. In any circumstance, the Bank has the right to procure a copy of the Hirer’s will or testamentary document. 17.3 Without prejudice to Clause 17.1 above, in the case of joint Hirers, the doctrine of survivorship can be applied in the event of the death of any one (1) of the Hirers. The Bank is authorised to act based on the instruction of the surviving Hirer(s) including but not limited to termination of this Agreement and access to the Box by the surviving Hirer(s). Any action taken by the Bank based on the instruction given by the surviving Hirer(s) shall be binding upon each Hirer and their respective appointed personal representatives. 17.4 In the case of non-individual Hirer, 17.4.1 The Bank may refuse to accept or act on the instruction given by any of the Hirer’s Authorised Person who has been adjudged bankrupt without being liable to the Hirer; 17.4.2 Upon presentation of a winding-up petition or any notice of dissolution against the Hirer, the Bank may freeze or suspend the access to the Box without being liable to the Hirer until the Bank receives satisfactory evidence of the person having legal authority to access the Box. 17.5 In the case of a company, society, club, association, government or statutory body or partnership registered under the Limited Liability Partnerships Act 2012, on the death of any Authorised Person, the Bank shall be authorised to act on the instructions of the surviving Authorised Person in relation to this Agreement and the Box as if the deceased Authorised Person was not an Authorised Person relating to...
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Winding-up/Insolvency. Neither Buyer nor Guarantor has been dissolved or is in the process of liquidation. No Action or request is pending (whether made by Buyer, Guarantor or by any other Person) or threatened to declare Buyer or Guarantor insolvent, to adjudicate bankruptcy, to grant a moratorium or a suspension of payments, or to dissolve or liquidate Buyer or Guarantor. No Order has been made, resolution passed or meeting convened for the winding-up (or other process whereby the business will be terminated and the assets will be distributed) of Buyer or Guarantor.
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Winding-up/Insolvency. No order has been made, petition presented, resolution passed or meeting convened for the winding-up (or other process whereby the business is terminated and the assets of the company concerned are distributed amongst the creditors and/or shareholders or other contributories) of the Purchaser. No insolvency or similar proceedings have been, or have been threatened in writing to be, opened over the assets of the Purchaser or rejected due to a lack of assets, and, to Purchaser’s best knowledge, there are no circumstances that would require or justify the opening of or application for such proceedings.
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Related to Winding-up/Insolvency

  • Bankruptcy; Insolvency The Lessee agrees that in the event all or a substantial portion of the Lessee’s assets are placed in the hands of a receiver or a Trustee, and such status continues for a period of 30 days, or should the Lessee make an assignment for the benefit of creditors or be adjudicated bankrupt; or should the Lessee institute any proceedings under the bankruptcy act or any amendment thereto, then such Lease or interest in and to the leased Premises shall not become an asset in any such proceedings and, in such event, and in addition to any and all other remedies of the Lessor hereunder or by law provided, it shall be lawful for the Lessor to declare the term hereof ended and to re-enter the leased land and take possession thereof and all improvements thereon and to remove all persons therefrom and the Lessee shall have no further claim thereon.

  • Winding Up Upon dissolution of the Company, the Company shall continue solely for the purposes of winding up its business and affairs as soon as reasonably practicable. Promptly after the dissolution of the Company, the Manager shall immediately commence to wind up the affairs of the Company in accordance with the provisions of this Agreement and the Act. In winding up the business and affairs of the Company, the Manager may, to the fullest extent permitted by law, take any and all actions that it determines in its sole discretion to be in the best interests of the Members, including, but not limited to, any actions relating to (i) causing written notice by registered or certified mail of the Company’s intention to dissolve to be mailed to each known creditor of and claimant against the Company, (ii) the payment, settlement or compromise of existing claims against the Company, (iii) the making of reasonable provisions for payment of contingent claims against the Company and (iv) the sale or disposition of the properties and assets of the Company. It is expressly understood and agreed that a reasonable time shall be allowed for the orderly liquidation of the assets of the Company and the satisfaction of claims against the Company so as to enable the Manager to minimize the losses that may result from a liquidation.

  • Bankruptcy or Insolvency If the Borrower, Grantor or any Guarantor: (i) becomes insolvent, or makes a transfer in fraud of creditors, or makes an assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due; (ii) generally is not paying its debts as such debts become due; (iii) has a receiver, trustee or custodian appointed for, or take possession of, all or substantially all of the assets of such party or any of the Collateral, either in a proceeding brought by such party or in a proceeding brought against such party and such appointment is not discharged or such possession is not terminated within sixty (60) days after the effective date thereof or such party consents to or acquiesces in such appointment or possession; (iv) files a petition for relief under the United States Bankruptcy Code or any other present or future federal or state insolvency, bankruptcy or similar laws (all of the foregoing hereinafter collectively called "Applicable Bankruptcy Law") or an involuntary petition for relief is filed against such party under any Applicable Bankruptcy Law and such involuntary petition is not dismissed within sixty (60) days after the filing thereof, or an order for relief naming such party is entered under any Applicable Bankruptcy Law, or any composition, rearrangement, extension, reorganization or other relief of debtors now or hereafter existing is requested or consented to by such party; (v) fails to have discharged within a period of sixty (60) days any attachment, sequestration or similar writ levied upon any property of such party; or (vi) fails to pay within thirty (30) days any final money judgment against such party.

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