Liquidation etc. As long as the Class B Distribution and Service Plan is in effect, the Series shall not change the manner in which the Distribution Fee is computed (except as may be required by a change in applicable law after the date hereof) or adopt a plan of liquidation without the consent of the Distributor (or any designee or transferee of the Distributor's rights to receive payment hereunder in respect of Class B shares) except in circumstances where a surviving entity or transferee of the Series' assets adopts the Class B Distribution and Service Plan and assumes the obligations of the Series to make payments to the Distributor (or its transferee) hereunder in respect of Class B shares.
Liquidation etc. (a) Upon any distribution of assets of the Company in connection with any dissolution, winding up, liquidation or reorganization of the Company (whether in bankruptcy, insolvency, or receivership proceedings or upon an assignment for the benefit of creditors or otherwise), the holders of all Senior Indebtedness shall first be entitled to receive payment in full of the principal thereof, premium, if any, and interest due thereon, and all costs and expenses (including attorneys' fees) related thereto, before the holders of the Debentures shall be entitled to receive any payment on account of the principal of or interest on or any other amount owing with respect to the Debentures (other than payment in shares of capital stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment, which stock and securities are subordinated to the payment of all Senior Indebtedness and securities received in lieu thereof which may at the time be outstanding). Under the circumstances provided herein, the holders of the Senior Indebtedness shall have the right to receive and collect any distributions made with respect to the Debentures until such time as the Senior Indebtedness is paid in full, and shall have the further right to take such actions as may be deemed necessary or required to so receive and collect such distributions including making or filing any proofs of claim relating thereto.
(b) Without in any way modifying the provisions of this Article VI or affecting the subordination effected hereby if such notice is not given, the Company shall give prompt written notice to the Purchaser of any dissolution, winding up, liquidation or reorganization of maker (whether in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors or otherwise).
Liquidation etc. The liquidation, termination, dissolution, insolvency, merger, consolidation or failure to maintain good standing of Mortgagor, or any general partner of Mortgagor in the State of Illinois or California and/or the state of incorporation or organization, if different, or the death, legal incapacity or insolvency of Nxxxxxx Xxxxxxxx.
Liquidation etc. The Company shall initiate any action to dissolve, liquidate or otherwise terminate its existence.
Liquidation etc. The liquidation, termination, dissolution, merger, consolidation or failure to maintain good standing in the Commonwealth of Virginia and/or the state of incorporation or organization, if different (or in the case of an individual, the death or legal incapacity) of the Grantor, any owner of the Property or any person obligated to pay any part of the Secured Indebtedness.
Liquidation etc the liquidation, termination, dissolution, merger, consolidation or failure to maintain good standing in any Applicable State or the state of its formation (or in the case of an individual, the death or legal incapacity) of Borrower or any Person obligated to pay any part of the Obligations; or
Liquidation etc. The liquidation, termination, dissolution, merger, consolidation or failure to maintain (and failure to reinstate or cure such failure) good standing in the State of Texas (or in the case of an individual, the death or legal incapacity) of the Borrower or any person obligated to pay any part of the Indebtedness;
Liquidation etc. No Guarantor shall, and no Guarantor shall agree to, liquidate, wind up or dissolve itself or otherwise commence any Insolvency Proceeding in respect of itself or file any petition or pass a resolution seeking the same.
Liquidation etc. Upon any liquidation, dissolution or winding up of the Company, the holder shall receive such cash or property (less the product of the Exercise Price times the number of Warrant Shares for which this Warrant is exercisable) which the Holder would have been entitled to receive upon the happening of such liquidation, dissolution or winding up had the Warrants been exercised and the Warrant Shares issued immediately prior to the occurrence of such liquidation, dissolution or winding up.
Liquidation etc. In the event of any insolvency, bankruptcy, liquidation, reorganization or other similar proceedings, or any receivership proceedings in connection therewith, relative to the Company or its creditors or its property, and in the event of any proceedings for voluntary liquidation, dissolution, or other winding up of the Company, whether or not involving insolvency or bankruptcy proceedings, then all principal, premium, if any, and interest due on and any other amount due pursuant to the terms of the instruments or agreements creating, relating to or evidencing Senior Debt shall first be paid in full before any payment on account of principal or interest or any other amount due is made upon a Security. Except as may otherwise be ordered by a court of competent jurisdiction, any payment or distribution of any kind or character, whether in cash, property, stock, or obligations, which may be payable or deliverable in respect of a Security in any of the proceedings referred to in the first sentence of this Section 4.03 shall be paid or delivered directly to the holders of Senior Debt for application in payment thereof, unless and until all principal and interest on, and any other amount due in respect of, Senior Debt shall have been paid in full.
