Bankruptcy or Insolvency definition

Bankruptcy or Insolvency means the dissolution or termination of a Party’s existence as a going business, insolvency, appointment of receiver for any part of such Party’s property and such appointment is not terminated within ninety (90) days after such appointment is initially made, any general assignment for the benefit of creditors, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against such Party and such proceeding is not dismissed within ninety (90) days after the filing thereof.

Bankruptcy or Insolvency means the dissolution or termination of Company’s existence, insolvency, employment of receiver for any part of Company’s property and such appointment is not terminated within ninety (90) days after such appointment is initially made, any general assignment for the benefit of creditors or the commencement of any proceedings under any bankruptcy or insolvency laws by or against Company and such proceedings are not dismissed within ninety (90) days after the filing thereof.

Bankruptcy or Insolvency is defined in the Intercreditor Agreement.

Examples of Bankruptcy or Insolvency in a sentence

• The parties agree that this provision will survive the termination of this Agreement, whether terminated in a Bankruptcy or Insolvency Action or otherwise.

• Company fails to perform any obligation under this Note and does not cure that failure within twenty (20) days of Company’s receipt of Holder’s written notice to Company of such failure to perform; or (c)Voluntary Bankruptcy or Insolvency Proceedings.

• Where the Buyer is in breach of these Terms or performs any act of Bankruptcy or Insolvency the Seller reserves the right to approach the Buyer's customer and to offer the Work directly to them, notwithstanding the fact that this will involve advising the Buyer’s customer that the Buyer is in breach or in default.

• In addition, the Advisor agrees that for any obligations due and owing to it by the Company, the Advisor will look solely and exclusively to the assets of the Company or the Administrator, if it has liability in its capacity as Administrator, to satisfy its claims and will not seek to attach or otherwise assert a claim against the assets of any Member, whether there is a Bankruptcy or Insolvency Action taken.

• In addition, the Trading Advisor agrees that for any obligations due and owing to it by the Trust, the Trading Advisor will look solely and exclusively to the assets of the Trading Company or to the assets of the Managing Owner, if it has liability in its capacity as Managing Owner, to satisfy its claims and will not seek to attach or otherwise assert a claim against the other assets of the Trust, whether there is a Bankruptcy or Insolvency Action taken or otherwise.

More Definitions of Bankruptcy or Insolvency

Bankruptcy or Insolvency means shall mean the dissolution or termination of Company’s existence as a going business, insolvency, appointment of a receiver for any part of Company’s property where such appointment is not terminated within ninety (90) days after such appointment is initially made, any general assignment for the benefit of creditors, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Company where such proceeding is not dismissed within ninety (90) days after the filing thereof); or

Bankruptcy or Insolvency means any Partner's or the Partnership's filing in any court pursuant to any statute of the United States or of any state, of a petition in bankruptcy or insolvency, any Partner's or the Partnership's filing for reorganization or for appointment of a receiver or trustee of all or a material portion of the Partner's or Partnership's assets; the making by any Partner or the Partnership of an assignment for the benefit of creditors; the admission by any Partner or the Partnership in writing of its inability to pay its debts as they fall due; or any Partner's or the Partnership's seeking, consenting to or acquiescing in the appointment of a trustee, receiver or liquidator of any material portion of its property. The phrase "bankruptcy or insolvency" shall also include the filing against any Partner or the Partnership in any court pursuant to any statute of the United States or of any State, of a petition in bankruptcy or insolvency, or for the reorganization, or for appointment of a receiver or a trustee of all or a substantial portion of the Partner's or Partnership's property, and within ninety (90) days after such commencement of any such proceeding against the Partner or Partnership such petition shall not have been dismissed (or satisfactory evidence that such Partner or Partnership is diligently contesting such petition shall not have been received by the other Partners, provided such other Partner is not otherwise in default hereunder). In addition, if the whole or any portion of the Partnership Interest of any Partner is subject to levy or attachment, and such levy or attachment is not released or discharged within sixty (60) days, such Partner shall be deemed "bankrupt or insolvent" for purposes of this Agreement.

Bankruptcy or Insolvency means the dissolution or termination of a Builder’s existence as a going business, insolvency, appointment of receiver for any part of such Builder’s property and such appointment is not terminated within one hundred twenty (120) days after such appointment is initially made, any general assignment for the benefit of creditors, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against such Builder and such proceeding is not dismissed within one hundred twenty (120) days after the filing thereof.

Bankruptcy or Insolvency has the meaning given in the Indenture.

Bankruptcy or Insolvency. Any action in bankruptcy, receivership, or reorganization filed by or against the BORROWER and/or any GUARANTOR; any assignment for the benefit of creditors made by the BORROWER; any judgment or proceeding entered or brought against the BORROWER and/or any GUARANTOR or affecting the subject premises; the insolvency of the BORROWER and/or any GUARANTOR. Borrower will have a sixty (60) day period to cure any involuntary bankruptcy filing against Borrower.

Bankruptcy or Insolvency means the dissolution or termination of Company’s existence, insolvency, employment of receiver for any part of Company’s property and such appointment is not terminated within ninety (90) days after such appointment is initially made, any general assignment for the benefit of creditors or the commencement of any proceedings under any bankruptcy or insolvency laws by or against Company and such proceedings are not dismissed within ninety (90) days after the filing thereof; provided however Bankruptcy or Insolvency shall not include an event that does not affect the Company’s ability to continue to make the Required Use of the Leased Premises and otherwise to meet its obligations under this Agreement.

Bankruptcy or Insolvency means the dissolution or termination of Trinity Plaza’s existence as a going business, insolvency, appointment of receiver for any part of Trinity Plaza’s property and such appointment is not terminated within ninety (90) days after such appointment is initially made, any general assignment for the benefit of creditors, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trinity Plaza and such proceeding is not dismissed within ninety (90) days after the filing thereof.