Applicable Insolvency Law definition

Applicable Insolvency Law means any applicable bankruptcy, insolvency or other similar law affecting creditors' rights now or hereafter in effect in any jurisdiction.
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Applicable Insolvency Law means the provisions of the relevant insolvency laws, including (but not limited to) the Austrian the Austrian Insolvency Code (Insolvenzordnung - IO), and any rules and regulations thereunder (including any applicable decision of a court) applicable to the Issuer, as amended from time to time.Where:
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Applicable Insolvency Law means the U.S. Bankruptcy Code in Title 11 of the United States Code, the Bankruptcy and Insolvency Act (Canada), the Companies' Creditors Arrangement Act (Canada), or any statute or law (including any applicable corporations legislation) of any applicable jurisdiction, as now or hereafter in effect, relating to liquidation, bankruptcy, insolvency, moratoria or creditors' rights, including any thereof pursuant to which a Person may seek a stay, moratorium, compromise, arrangement, restructuring, renegotiation, reduction or other similar relief from or in respect of the claims of such Person's creditors, in each case, as amended or replaced from time to time.
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Examples of Applicable Insolvency Law in a sentence

  • For purposes of this paragraph, "Adjusted Net Worth" shall mean the excess of (i) the amount of the "present fair salable value" of the assets of the Guarantor as of the date of determination, over (ii) the amount of all "liabilities of such Guarantor, contingent or otherwise", as of the date of determination, as such quoted terms are determined in accordance with Applicable Insolvency Law.

  • For purposes of this paragraph, the "Adjusted Net Worth" of a Guarantor shall mean the excess of (i) the amount of the "present fair salable value" of the assets of such Guarantor as of the date of determination, over (ii) the amount of all "liabilities of such Guarantor, contingent or otherwise", as of the date of determination, as such quoted terms are determined in accordance with Applicable Insolvency Law.

  • If under any Applicable Insolvency Law, any Relevant Lender or participant receives a secured claim in lieu of a set-off or other claim to which this Section 3.13 applies, such Lender or participant shall, to the extent practicable, exercise its rights in respect of such secured claim in a manner consistent with the rights of the other Relevant Lenders under this Section 3.13 to share in the benefits of any recovery on such secured claim.

  • In determining the Adjusted Net Worth of a Guarantor for purposes of calculating the Maximum Guaranteed Amount for such Guarantor, the liabilities of such Guarantor to be used in such determination pursuant to clause (ii) of the preceding sentence shall not include any amounts owed by such Guarantor under this Section 9 unless inclusion of such amounts is required by any Applicable Insolvency Law.


More Definitions of Applicable Insolvency Law

Applicable Insolvency Law means any applicable bankruptcy, insolvency or other Arrangers means Crédit Agricole Corporate and Investment Bank, Milan Branch and UniCredit Bank AG, or any successor or replacement thereof. Back-Up Servicer means a back-up servicer appointed in accordance with the Servicing Agreement. Back-Up Servicer Facilitator means Intertrust Management B.V., a private company
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Related to Applicable Insolvency Law

  • Bankruptcy Law means Title 11, U.S. Code or any similar federal or state law for the relief of debtors.

  • Insolvency with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of Section 4245 of ERISA.

  • Insolvency Proceeding means any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or any other insolvency, liquidation, reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any action for the dissolution of the Mortgage Loan Borrower, any proceeding (judicial or otherwise) concerning the application of the assets of the Mortgage Loan Borrower for the benefit of its creditors, the appointment of or any proceeding seeking the appointment of a trustee, receiver or other similar custodian for all or any substantial part of the assets of the Mortgage Loan Borrower or any other action concerning the adjustment of the debts of the Mortgage Loan Borrower, the cessation of business by the Mortgage Loan Borrower, except following a sale, transfer or other disposition of all or substantially all of the assets of the Mortgage Loan Borrower in a transaction permitted under the Mortgage Loan Documents; provided, however, that following any such permitted transaction affecting the title to the Mortgaged Property, the Mortgage Loan Borrower for purposes of this Agreement shall be defined to mean the successor owner of the Mortgaged Property from time to time as may be permitted pursuant to the Mortgage Loan Documents; provided, further, however, that for the purposes of this definition, in the event that more than one entity comprises the Mortgage Loan Borrower, the term “Mortgage Loan Borrower” shall refer to any such entity.

  • EU Insolvency Regulation means Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast).

  • Insolvency Event means, with respect to a specified Person, (a) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing.

  • Bankruptcy Act means the Bankruptcy Act or Title 11 of the United States Code.