Insolvency definition

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

Insolvency means that by reason of the voluntary or involuntary liquidation, bankruptcy, insolvency, dissolution or winding-up of or any analogous proceeding affecting the Share Company, (A) all the Shares of the Share Company are required to be transferred to a trustee, liquidator or other similar official or (B) holders of the Shares of the Share Company become legally prohibited from transferring them, or (C) the Share Company has been liquidated or terminated or does no longer exist.

Insolvency means that by reason of the voluntary or involuntary liquidation, bankruptcy, insolvency, dissolution, or winding-up of or any analogous proceeding affecting the Share Issuer, (i) all the Shares of that Share Issuer are required to be transferred to a trustee, liquidator, or other similar official, or (ii) holders of the Shares of that Share Issuer become legally prohibited from transferring them.

Examples of Insolvency in a sentence

• A notice of termination given under clause 19.2 will lapse if the defaulting party remedies the Event of Default or Insolvency Event (as applicable) prior to the notice of termination becoming effective or the other party withdraws the effective date of its notice.

• Accordingly, the Client is an unsecured creditor of the Custodian (for On Book Cash) or the relevant Subcustodian (for Off Book Cash), subject to such rights as may arise in an Insolvency Event as determined under the laws of the jurisdiction of the Custodian or relevant Subcustodian.

• In the event FHKC chooses to terminate the Contract in accordance with section 44.5 Termination for Insolvency or Bankruptcy, FHKC shall provide Insurer thirty (30) Calendar Days’ Notice.

• If the Client and/or any of its Affiliates undergoes an Insolvency Event, any right that Verisk may have to terminate this Agreement, shall be suspended for as long as the Client continues to comply with the payment obligations and any relevant restrictions contained in this Agreement for a period not exceeding 12 (twelve) months.

• However, in the event that either Party becomes the subject of an Insolvency Event, then such Party will have the right to assign or transfer its rights and obligations under this Agreement to any entity to which the Party transfers its business and assets (including a bridge bank or similar entity) and the other Party irrevocably consents to such assignment or transfer.

More Definitions of Insolvency

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

Insolvency means that by reason of the voluntary or involuntary liquidation, bankruptcy, insolvency, dissolution or winding-up of or any analogous proceeding affecting an Underlying Company (a) all the Securities of that Underlying Company are required to be transferred to a trustee, liquidator or other similar official or (b) holders of the Securities of that Underlying Company become legally prohibited from transferring them.

Insolvency means, in respect of a Reference Asset, that by reason of the voluntary or involuntary liquidation, bankruptcy, insolvency, dissolution or winding-up of or any analogous proceeding affecting the applicable Company, (i) all the relevant Reference Assets of such Company are required to be transferred to a trustee, liquidator or other similar official or (ii) holders of the Reference Assets of such Company become legally prohibited from transferring them.

Insolvency or "insolvent" means:

Insolvency means when an issuer, licensed to transact the business of insurance in this state, has had a final order of liquidation entered against it with a finding of insolvency by a court of competent jurisdiction in the issuer’s state of domicile.

Insolvency. You acknowledge and agree that this Agreement and the transaction(s) contemplated under this Agreement constitute a “forward contract” within the meaning of the United States Bankruptcy Code. To the fullest extent possible, you agree to waive the provisions afforded by Section 366 of the United States Bankruptcy Code and acknowledge that for purposes of the application of principles afforded “forward contracts” the provisions of Section 366 shall not apply to you or to this Agreement.

Insolvency means that: