Company Bankruptcy definition

Company Bankruptcy means the Company (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; (iv)(A) institutes or has instituted against it, by a regulator, supervisor or any similar official with primary insolvency, rehabilitative or regulatory jurisdiction over it in the jurisdiction of its incorporation or organisation or the jurisdiction of its head or home office, a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented for its winding-up or liquidation by it or such regulator, supervisor or similar official, or (B) has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented for its winding-up or liquidation, and such proceeding or petition is instituted or presented by a person or entity not described in clause (A) above and is not dismissed, discharged, stayed or restrained in each case within 15 days of the institution or presentation thereof; (v) has a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger); (vi) seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian, examiner or other similar official for it or for all or substantially all its assets; (vii) has a secured party take possession of all or substantially all its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets; (viii) causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction, has an analogous effect to any of the events specified in clauses (i) to (vii) above (inclusive); or (ix) takes any action indicating its consent to, approval of, or acquiescence in, any of the foregoing acts.
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Company Bankruptcy means the occurrence of a “Bankruptcy” as defined in the ISDA Credit Definitions (with references therein to the “Reference Entity” being deemed to be the Company).
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Company Bankruptcy means any voluntary or involuntary bankruptcy, insolvency, reorganization, compromise, dissolution, liquidation, arrangement or readjustment of debt in respect of the Company.
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Examples of Company Bankruptcy in a sentence

  • Company will be responsible to Elavon for any damages suffered by, and expenses incurred by, Elavon due to a Company Bankruptcy Proceeding.

  • If a Company Bankruptcy shall occur, the Pledgor, to the extent it may do so under applicable law, shall reconfirm its prepetition waiver of any protection to which it may be entitled under such laws and, to give effect to such waiver, the Pledgor consents to the assumption and enforcement of each provision of this Agreement by the debtor-in-possession or the Company's trustee in bankruptcy, as the case may be.

  • In addition to the foregoing, in the event of a Company Bankruptcy Event, Licensor shall, to the extent allowed by Law, have a right of first refusal to purchase all of Company’s interest in the Product and the Company Technology in the Territory (the “Right of First Refusal”).

  • If the Company is subject to a Company Bankruptcy Event, the Collateral shall be realised by the Trustee enforcing the Security and not by the Disposal Agent pursuant to a Liquidation.

  • See Pacific Gas and Electric Company Bankruptcy within this Item 1, Business and "Risks Related to the PG&E Bankruptcy" found in Item 1A, Risk Factors, to this Annual Report on Form 10-K for additional information regarding the PG&E Bankruptcy.

  • Significant Events Pacific Gas and Electric Company Bankruptcy • On January 29, 2019, PG&E filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California.

  • Pacific Gas and Electric Company Bankruptcy On January 29, 2019, Pacific Gas and Electric Company, or PG&E, filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California, or the Bankruptcy Court.

  • Set forth in Section 4.8 of the Company Disclosure Schedule is an accurate and complete list of any remaining claims that have been asserted and remain disputed (or have not otherwise been allowed or disallowed) in the Company's bankruptcy (the "Company Bankruptcy Claims"), including, as to each such Company Bankruptcy Claim, the priority asserted by the holder thereof.

  • Kaushik Notices to Company: Bankruptcy Management Solutions, Inc.

  • The Cancellation and Issuance shall be effected pursuant to a Plan confirmed by the Company Bankruptcy Court.


More Definitions of Company Bankruptcy

Company Bankruptcy means any voluntary or involuntary proceeding under the United States Bankruptcy Code or other state, federal or foreign law relating to insolvency, moratorium, reorganization, appointment of receivership or similar proceedings affecting creditors' rights generally and relating to or having jurisdiction over the Collateral, or the Company's obligations under the Notes, Note Purchase Agreements and this Indenture. If any of the Guaranteed Obligations become due, the Guarantor promises to pay or, to the extent guaranteed herein, cause the performance of such Guaranteed Obligation at the time required for payment or performance thereof (the "Guarantor Performance Due Date"). ------------------------------ The Guarantor further agrees that it shall indemnify and hold harmless each Guaranteed Party for any and all reasonable costs and expenses (including reasonable attorney's fees and expenses) incurred after the Guarantor Performance Due Date by such Guaranteed Party in enforcing any rights under this Indenture. The Guarantor specifically agrees that it shall not be necessary or required that any Guaranteed Party exercise any right, assert any claim or demand or enforce any remedy whatsoever against the Company (or any other Person) before or as a condition to the obligations of the Guarantor hereunder. Notwithstanding any other provision of this Indenture to the contrary, the term Guaranteed Obligation as used herein shall not include any liability in excess of that imposed on the Company under the Notes, Note Purchase Agreements or this Indenture (as the same may be amended from time to time in accordance with their terms), provided, however, that if the -------- ------- imposition of liability on the Company under the Notes, Note Purchase Agreements or this Indenture, or the realization on such liability, is limited as a result of a Company Bankruptcy or any other action by the Company, the Guarantor shall be responsible for and discharge any such liability in full; further provided, however, that nothing contained in ------- -------- ------- this paragraph or elsewhere in this Indenture shall prevent the Guarantor from bringing an action for damages suffered by the Guarantor (or by the Company if Guarantor shall be subrogated or otherwise become entitled to exercise the rights of the Company under the Notes, Note Purchase Agreements or this Indenture) as a result of a breach by any Person of any obligation owed by such Person or representation made by such...
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Related to Company Bankruptcy

  • Involuntary Bankruptcy means, with respect to any Person, without the consent or acquiescence of such Person, the entering of an order for relief or approving a petition for relief or reorganization or any other petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or other similar relief under any present or future bankruptcy, insolvency or similar statute, law or regulation or the filing of any such petition against such Person which order or petition shall not be dismissed within 90 days or, without the consent or acquiescence of such Person, the entering of an order appointing a trustee, custodian, receiver or liquidator of such Person or of all or any substantial part of the property of such Person which order shall not be dismissed within 90 days.

  • 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.

  • Chapter 11 means Chapter 11 of the Bankruptcy Code.

  • Voluntary Bankruptcy has the meaning set forth in the definition of “Bankruptcy.”

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

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

  • insolvency practitioner means any receiver, administrator or liquidator appointed in respect of the Tenant;

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

  • Reorganization with respect to any Multiemployer Plan, the condition that such plan is in reorganization within the meaning of Section 4241 of ERISA.

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

  • Debtor in bankruptcy means a person that is the subject of:

  • Federal Bankruptcy Code means the Bankruptcy Act of Title 11 of the United States Code, as amended from time to time.

  • Bankruptcy Exception means, in respect of any agreement, contract, commitment or obligation, any limitation thereon imposed by any bankruptcy, insolvency, fraudulent conveyance, reorganization, receivership, moratorium or similar Law affecting creditors’ rights and remedies generally and, with respect to the enforceability of any agreement, contract, commitment or obligation, by general principles of equity, including principles of commercial reasonableness, good faith and fair dealing, regardless of whether enforcement is sought in a proceeding at Law or in equity.

  • Bankrupt means with respect to any entity, such entity that (a) 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 and such case filed against it is not dismissed in ninety (90) days, (b) makes an assignment or any general arrangement for the benefit of creditors, (c) otherwise becomes bankrupt or insolvent (however evidenced), (d) 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 (e) is generally unable to pay its debts as they fall due.

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

  • Insolvency Act means the Insolvency Xxx 0000;

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

  • Insolvency Action With respect to any Person, the taking by such Person of any action resulting in an Insolvency Event, other than solely under clause (g) of the definition thereof.

  • United States Bankruptcy Code means the Bankruptcy Reform Act of 1978, as amended and as codified in Title 11 of the United States Code, as amended from time to time hereafter, or any successor federal bankruptcy law.

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

  • Receivership means a proceeding in which a receiver is appointed.

  • Act of Bankruptcy means if a party hereto or any general partner thereof shall (a) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (b) admit in writing its inability to pay its debts as they become due, (c) make a general assignment for the benefit of its creditors, (d) file a voluntary petition or commence a voluntary case or proceeding under the Federal Bankruptcy Code (as now or hereafter in effect), (e) be adjudicated a bankrupt or insolvent, (f) file a petition seeking to take advantage of any other law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts, (g) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in an involuntary case or proceeding under the Federal Bankruptcy Code (as now or hereafter in effect), or (h) take any corporate or partnership action for the purpose of effecting any of the foregoing; or if a proceeding or case shall be commenced, without the application or consent of a party hereto or any general partner thereof, in any court of competent jurisdiction seeking (1) the liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of debts, of such party or general partner, (2) the appointment of a receiver, custodian, trustee or liquidator or such party or general partner or all or any substantial part of its assets, or (3) other similar relief under any law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts, and such proceeding or case shall continue undismissed; or an order (including an order for relief entered in an involuntary case under the Federal Bankruptcy Code, as now or hereafter in effect) judgment or decree approving or ordering any of the foregoing shall be entered and continue unstayed and in effect, for a period of 60 consecutive days.

  • Bankruptcy Exceptions means limitations on, or exceptions to, the enforceability of an agreement against a Person due to applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally or the application of general equitable principles, regardless of whether such enforceability is considered in a proceeding at law or in equity.

  • Petition means a written request to the court for an order after notice.

  • Insolvency Proceedings means, with respect to any Person, any case or proceeding with respect to such Person under U.S. federal bankruptcy laws or any other state, federal or foreign bankruptcy, insolvency, reorganization, liquidation, receivership or other similar laws, or the appointment, whether at common law, in equity or otherwise, of any trustee, custodian, receiver, liquidator or the like for all or any material portion of the property of such Person.

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