Involuntary Proceeding definition
Examples of Involuntary Proceeding in a sentence
If an Involuntary Proceeding shall be commenced against either party and shall remain undismissed for a period of sixty (60) days.
Each Originating Party hereby agrees -------------- that it will not institute against the Buyer any Involuntary Proceeding (as defined in clause (i) of Section 7.01(f) of the EFCC Agreement) so long as any --------------- obligations of the Buyer shall be outstanding or there shall not have elapsed one year plus one day since the last day on which any such obligations shall have been outstanding.
Any involuntary proceeding or other action described in Section 8.01(b) (Involuntary Proceeding) of the Loan Agreement is taken against Borrower or Guarantor.
The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Borrower in an Involuntary Proceeding or other similar proceeding under any federal or state bankruptcy, insolvency or other similar law now or hereafter in effect or appointing a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and the continuance of any such decree or order in effect and unstayed for a period of thirty (30) days.