Common Contracts
1 similar Master Terms Agreement contracts
DEFINITIONSMaster Terms Agreement • November 15th, 2021
An “Insolvency Event” occurs if a person a) is unable to pay its debts (within the meaning of sections 123, 267 or 268, as applicable, of Insolvency Act 1986); b) proposes or becomes subject to a voluntary arrangement or convenes a meeting of its creditors to consider such a proposal or, being a company has a proposal for a compromise or arrangement sanctioned by the court pursuant to section 899 Companies Act 2006 (save for the sole purpose of a solvent reconstruction or amalgamation); c) has a receiver or manager appointed over any of its assets, undertaking or income; d) takes any step towards its winding-up or bankruptcy as applicable (save, in the case of a company, a solvent liquidation for the sole purpose of effecting a reconstruction or amalgamation) or is subject to a petition issued by any court for its winding-up or bankruptcy (as applicable) that is not withdrawn upon the person's application; e) being a company, has an administrator appointed in respect of it or is the su
