Solvency Event a bankruptcy, reorganization, insolvency, or similar proceeding not dismissed within thirty (30) days; dissolution; becoming insolvent or bankrupt; or the making of an assignment for the benefit of creditors. 8X8 UCAAS/CCAAS REGIONAL TERMS
Solvency Event a bankruptcy, reorganization, insolvency, or similar proceeding not dismissed within thirty (30) days; dissolution; becoming insolvent or bankrupt; or the making of an assignment for the benefit of creditors. Version: September 19, 2023
Solvency Event shall have occurred if:
Examples of Solvency Event in a sentence
If it does, 8x8 may not revoke such permission unless an event occurs that (in 8x8’s reasonable discretion) puts Customer’s creditworthiness or solvency into question (including, without limitation, Customer’s default on any financial obligation or a Solvency Event involving Customer or any entity that owns or controls it).
More Definitions of Solvency Event
Solvency Event a Party is unable to pay its debts within the meaning of Section 123 of the Insolvency Act 1986; a Party becomes the subject of a company voluntary arrangement; a Party has a receiver, manager, administrator or administrative receiver appointed over all or any part of its undertaking, assets or income; a Party has a resolution passed for its winding up, or a petition presented to any court for its winding up or an application is made for an administration order, or any winding-up or administration order is made against it; a Party has a freezing order made against it; or where a Party is subject to any events or circumstances analogous to the foregoing in any jurisdiction.
Solvency Event means that the following have occurred as at a date prior to December 31, 2015:
Solvency Event means the occurrence of one or more of the following events:
(i) if a decree or order of a court of competent jurisdiction is entered adjudging a Lorus Party a bankrupt or insolvent or approving as properly filed a petition seeking the winding-up of a Lorus Party under the Companies’ Creditors Arrangement Act (Canada), the Bankruptcy and Insolvency Act (Canada) or the Winding Up Act (Canada) or any other bankruptcy, insolvency or analogous laws or issuing sequestration or process of execution against, or against any substantial part of the assets of a Lorus Party or ordering the winding up or liquidation of its affairs, and any such decree or order continues unstayed and in effect for a period of 10 days; or
(ii) if a Lorus Party becomes insolvent, makes any assignment in bankruptcy or makes any other assignment for the benefit of creditors, makes any proposal under the Bankruptcy and Insolvency Act (Canada) or any comparable law, seeks relief under the Companies’ Creditors Arrangement Act (Canada), the Winding Up Act (Canada) or any other bankruptcy, insolvency or analogous law, is adjudged bankrupt, files a petition or proposal to take advantage of any act of insolvency, consents to or acquiesces in the appointment of a trustee, receiver, receiver and manager, interim receiver, custodian, sequestrator or other Person with similar powers of itself or of all or any substantial portion of its assets, or files a petition or otherwise commences any proceeding seeking any reorganization, arrangement, composition or readjustment under any applicable bankruptcy, insolvency, moratorium, reorganization or other similar law affecting creditors’ rights or consents to, or acquiesces in, the filing of such a petition;
Solvency Event means the threat of imminent voluntary or involuntary bankruptcy filing of the Entity that results in the publication or broadcast of information which can reasonably be expected to damage the Entity’s reputation.
Solvency Event means (i) the failure of the Bank at any time to remain "well capitalized" within the meaning of 12 CFR 565.4, as amended from time to time, and (ii) a failure of the Bank to be in compliance with applicable material regulatory requirements.
Solvency Event means a Party (i) ceases or fails to be Solvent, and ceases to perform under the Agreement or a Work Order in the absence of a good faith dispute regarding a Party’s obligation to perform or other right to do so specified in the Agreement or Work Order or (ii) voluntarily or involuntarily ceases to conduct its business.
Solvency Event means, with respect to any Person that is a party to any Farmout Agreement or Participation Agreement (other than the Borrower or any Restricted Subsidiary), the occurrence of any event or circumstance involving, with respect to or attributable to such Person which is similar to any event or circumstance described in Section 8.01(f) of this Agreement.