Bankrupt Company definition

Bankrupt Company means SaveTherapeutics AG, a German corporation from whom certain intellectual property was purchased by MDI, including, but not limited to, the Product.
Sample 1Sample 2Sample 3

Examples of Bankrupt Company in a sentence

  • MDI purchased from the bankruptcy estate of the Bankrupt Company, as disclosed to Eucodis, the assets thereof, including, but not limited to, the Product.

  • Eucodis represents and warrants that it has had ample opportunity to and in fact has engaged in extensive due diligence concerning the science of the Product, the business practices of the Bankrupt Company and any irregularities related thereto, and has reviewed all documents memorializing the science and transfer of the Intellectual Property.

  • MDI has engaged in disclosure and offered the documents it knows of, and which are in its possession concerning or related to the purchase of the Intellectual Property of the Bankrupt Company and the status of the transfer of those same assets to MDI from the Bankrupt Company.

  • Should either Eucodis or MDI discover that there is additional necessary scientific data which was commissioned by the Bankrupt Company for which funds in excess of Euro 70,000 are needed, then the Chief Executive Officers of each of the parties shall meet to determine whether to incur the expense and how to apportion the cost.

  • The Parties further acknowledge that this prior work resulting in this information was included in MDI’s asset purchase from the Bankrupt Company and that outstanding unpaid bills have caused such data and information to be held by those companies owed money by the estate of the Bankrupt Company.

  • Eucodis represents, warrants and covenants that it fully aware of any risks attendant to MDI’s purchase from the Bankrupt Company and accepts such risks.

  • Therefore, based on the facts stated above, the Bankrupt Company does not gain either a predominant right or any legal status against the plaintiff, the user.

  • In addition, since the Bankrupt Company has shut down the users’ access to the Exchange, the plaintiff may neither transfer the bitcoin stored in the plaintiff’s Account to a "Wallet" in the possession of the plaintiff, nor is able to give a valid instruction to transfer the Bitcoin.

  • The user account on the Exchange was a type of client ledger that the Bankrupt Company created for each user, just for the purpose of recording numbers, and the Bankrupt Company did not take possession of bitcoin by storing them in the account.

  • The Bankrupt Company automatically dispersed bitcoin deposited by the users of the Exchange, including the plaintiff, from each "address associated with the user" created by the Bankrupt Company, to a number of bitcoin addresses (in relation to which the private key was managed and known by only the company and which was not associated to the users) created by this company, and trading was carried out on the Exchange by randomly allocated transfers.

Related to Bankrupt Company

  • Bankrupt Party has the meaning set forth in Section 14.7.

  • Bankrupt means with respect to any entity, such entity (i) files a petition or otherwise commences, authorizes or acquiesces in the commencement of a proceeding or cause of action under any bankruptcy, insolvency, reorganization or similar law, or has any such petition filed or commenced against it, (ii) makes an assignment or any general arrangement for the benefit of creditors, (iii) otherwise becomes bankrupt or insolvent (however evidenced), (iv) has a liquidator, administrator, receiver, trustee, conservator or similar official appointed with respect to it or any substantial portion of its property or assets, or (v) is generally unable to pay its debts as they fall due.

  • Chapter 11 means Chapter 11 of the Bankruptcy Code.

  • Bankrupt Member means a Member who: (i) has become the subject of a decree or order for relief under any bankruptcy, insolvency or similar law affecting creditors' rights now existing or hereafter in effect; or (ii) has initiated, either in an original proceeding or by way of answer in any state insolvency or receivership proceeding, an action for liquidation, arrangement, composition, readjustment, dissolution, or similar relief.

  • Insolvent pertaining to a condition of Insolvency.

  • Danish Bankruptcy Act means the Danish Bankruptcy Act (Consolidated Act No. 11 of 6 January 2014, as amended);

  • Bankruptcy Party has the meaning assigned in Section 9.7.

  • Bankruptcy means, with respect to any Person, if such Person (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections 18-101(1) and 18-304 of the Act.

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.

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

  • Bankruptcy Proceeding means any case, action or proceeding before any court or other Governmental Authority relating to any Bankruptcy Event.

  • Insolvency Act means the Insolvency Xxx 0000;

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

  • Bankruptcy Code means the United States Bankruptcy Code, as amended from time to time, any successor statute or rule promulgated thereto.

  • Insolvency Proceedings means bankruptcy, liquidation or other collective judicial or administrative proceedings, including interim proceedings, in which the assets and affairs of the debtor are subject to control or supervision by a court for the purposes of reorganisation or liquidation;

  • Specified Subsidiary means, at any date of determination (a) any Material Subsidiary or (b) any Unrestricted Subsidiary (i) whose total assets at the last day of the Test Period ending on the last day of the most recent fiscal period for which Section 9.1 Financials have been delivered were equal to or greater than 10% of the Consolidated Total Assets of the Borrower and the Subsidiaries at such date, or (ii) whose revenues during such Test Period were equal to or greater than 10% of the consolidated revenues of the Borrower and the Subsidiaries for such period, in each case determined in accordance with GAAP, and (c) each other Unrestricted Subsidiary that is the subject of an Event of Default under Section 11.5 and that, when such Subsidiary’s total assets or revenues are aggregated with the total assets or revenues, as applicable, of each other Subsidiary that is the subject of an Event of Default under Section 11.5 would constitute a Specified Subsidiary under clause (b) above.

  • Insolvent insurer means a member insurer which, after the effective date of this chapter, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency.

  • Indian organization means the governing body of any Indian tribe or entity established or recognized by the governing body of an Indian tribe for the purposes of 25 U.S.C., chapter 17.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, or cruise line, tour operator or other travel provider provided the Bankruptcy or Default occurs more than 14 days following Your Effective Date for the Trip Cancellation Benefits. There is no coverage for the Bankruptcy or Default of any person, organization, agency or firm from whom You purchased Travel Arrangements supplied by others.

  • CCAA means the Companies’ Creditors Arrangement Act (Canada).

  • Foreign limited liability company means an unincorporated entity formed under the law of a jurisdiction other than this state and denominated by that law as a limited liability company.

  • Plug-in Hybrid Electric Vehicle (PHEV) means a vehicle that is similar to a Hybrid but is equipped with a larger, more advanced battery that allows the vehicle to be plugged in and recharged in addition to refueling with gasoline. This larger battery allows the car to be driven on a combination of electric and gasoline fuels.

  • international organization shall have the meanings set forth in Section 7701 of the Code or successor provisions.

  • Bankruptcy Event means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.

  • Tribal organization means the elected governing body of any Indian tribe or any legally established organization of Indians that is controlled by one or more such bodies or by a board of directors elected or selected by one or more such bodies (or elected by the Indian population to be served by such organization) and that includes the maximum participation of Indians in all phases of its activities; and