Insolvency Default definition

Insolvency Default means, under the terms of any Counterparty Agreement, any of the following:

Insolvency Default has the meaning assigned to such term in Section 6.2.

Insolvency Default means an Event of Default described in Sections 7.1(d), (e) or (f) hereof.

Examples of Insolvency Default in a sentence

• If an Event of Default shall occur, at the election of the Bank (but automatically in the case of an Insolvency Default), all Obligations shall become immediately due and payable without notice or demand, except with respect to Obligations payable on DEMAND, which shall be due and payable on DEMAND, whether or not an Event of Default has occurred.

• The Majority Bondholders (a) may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred upon the Trustee under the Trust Agreement, or (b) may, on behalf of the Bondholders, waive any past default except the Events of Default defined as a Payment Default, Insolvency Default or Closure Default, and its consequences.

• If an Event of Default shall occur, at the election of the Bank (but automatically in the case of an Insolvency Default), all Obligations shall become immediately due and payable without notice or demand, except with respect to Obligations payable on demand, which shall be due and payable on demand, whether or not an Event of Default has occurred.

• Upon the occurrence of an Insolvency Default, payment of this Note shall be Accelerated automatically and without notice.

• If no successor Agent is appointed prior to the effective date of the resignation of Agent, Agent may appoint, after consulting with the Lenders and with the consent of Borrower (such consent not to be unreasonably withheld or delayed) or, if (i) a Payment Default or an Insolvency Default has occurred and is continuing or (ii) any other Event of Default has occurred and has been continuing for a period of at least 30 days, in consultation with Xxxxxxxx, a successor Agent.

More Definitions of Insolvency Default

Insolvency Default means a Default under Section 9.01(a)(vii) or Section 9.01(a)(viii) of the Indenture.

Insolvency Default means any condition or event which, after notice, lapse of time, the making of any required determination or any combination of the following, would constitute an Event of Default of the nature referred to in Clause 9.1.

Insolvency Default means any condition or event which, after notice, lapse of time or both, would constitute an Event of Default of the nature referred to in clauses (j) or (k) of Article XVI.

Insolvency Default. As defined in Section 9.

Insolvency Default means the acts of bankruptcy referred to under subparagraph (h) of Condition 21, including but not limited to the following: (i) filing of a petition in any bankruptcy, reorganization, winding-up, suspension of payment, liquidation, or other analogous proceeding; (ii) appointment of a trustee or receiver of all or a substantial portion of the Bank’s properties; (iii) making of an assignment for the benefit of the Bank’s creditors of all or substantially all of its properties; (iv) admission in writing of the Bank’s inability to pay its debts; or (v) entry of any order or judgment of any court, tribunal, or administrative agency or body confirming the insolvency of the Bank, or approving any reorganization, winding-up, liquidation, or appointment of trustee or receiver of the Bank or a substantial portion of its properties or assets;

Insolvency Default means the acts of bankruptcy referred to under subparagraph (h) of

Insolvency Default means the Customer suffering any of the following events: