PARCO Insolvency Event definition

PARCO Insolvency Event means the occurrence of any one or more of the following: (i) any proceeding shall have been instituted by the Initial Purchaser seeking to adjudicate it as bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of any order for relief or the appointment of a receiver, trustee or other similar official for it or any substantial part of its property, or (ii) any proceeding of the type described in the foregoing clause (i) shall be instituted against the Initial Purchaser and shall have remained undismissed for a period of sixty (60) consecutive days, or an order granting relief requested in any such proceeding shall be entered.
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PARCO Insolvency Event shall have the meaning assigned such term in the Series 2000-1 Asset Purchase Agreement.
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PARCO Insolvency Event means the occurrence of any one or more of the following: (a) any proceeding shall have been instituted by PARCO seeking to adjudicate it as bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of any order for relief or the appointment of a receiver, trustee or other similar official for it or any substantial part of its property, or (b) any
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Examples of PARCO Insolvency Event in a sentence

  • Each Sale Notice delivered by PARCO shall be deemed to be a representation and warranty by PARCO that no PARCO Insolvency Event shall have occurred and be continuing.

  • Each Sale Notice shall be deemed to be a representation and warranty by PARCO that no PARCO Insolvency Event shall have occurred and be continuing.

  • Any Sale Notice shall be deemed to be a representation and warranty to the parties thereto by the Series 2000-1 Initial Purchaser that no PARCO Insolvency Event shall have occurred and be continuing.

  • Notwithstanding anything to the contrary set forth in this Agreement, the APA Banks shall have no obligation to purchase the PARCO Interest or any portion thereof from PARCO if, on such Purchase Date, a PARCO Insolvency Event shall have occurred and be continuing.

  • County is solely responsible for the security, confidentiality and integrity of all messages and the content that you receive, transmit through or store on the Services.

  • Notwithstanding anything to the contrary set forth in this Agreement, no APA Bank shall have any obligation to purchase the PARCO Interest or any portion thereof from PARCO if, on such Purchase Date, a PARCO Insolvency Event shall have occurred and be continuing.

  • Notwithstanding anything to the contrary set forth in this Agreement, no APA Bank shall have any obligation to purchase Transferred Interests Payments or any portion thereof from PARCO if, on such Purchase Date, a PARCO Insolvency Event shall have occurred and be continuing.

  • Notwithstanding anything to the contrary set forth in this Agreement, no APA Bank shall have any obligation hereunder to purchase the PARCO Interest or any portion thereof from PARCO if, on such Purchase Date, any PARCO Insolvency Event shall have occurred and be continuing.