Supplier Insolvency definition

Supplier Insolvency means (i) the failure of Supplier to pay its debts to creditors when and as due (ii) under circumstances in which one or more of such creditors have refused to modify, amend, waive or delay the exercise of their rights to obtain strict compliance with such obligations and (iii) such failure and refusal could reasonably be expected to have a material adverse effect on the ability of Supplier to continue to operate its business without the protection of federal or state laws governing the rights of creditors. Supplier Insolvency is not a breach of this Agreement and shall not be a cause for termination thereof.
Sample 1

Examples of Supplier Insolvency in a sentence

  • Failure to make corrections will result in deductions from monthly payment.

  • Immediately upon the occurrence of a Supplier Insolvency, Supplier shall promptly give notice to Sprint that the Supplier Insolvency exists.

  • CCS may choose to suspend or terminate this Framework Agreement at its entire discretion: ● if a Supplier Insolvency Event occurs or ● if the Supplier has breached Clause 2.8 or ● if at least 3 MI Failures occur within a 6­month rolling period ● if the Supplier has tried to renegotiate any terms following award of a Call­Off Contract.

  • However, if the Supplier Insolvency persists for more than 90 days following the Insolvency Release, then Sprint's right to use the Escrow Technology and Non-Escrow Technology under the license of Section 20.1 shall become perpetual.

  • Our cover shall not apply to First Advance Payment incurred after:- you have or should have notified us an Adverse Information on your Supplier,- our Cancellation of the Credit Limit on the Supplier,- Insolvency of the Supplier.

  • Any dispute regarding the occurrence of the Supplier Insolvency, an Insolvency Release and/or Splint's right to gain access to the Technology pursuant to this Section 20.6 shall be resolved by arbitration in accordance with Schedule 20.3.

Related to Supplier Insolvency

  • Act of Insolvency means any act as such as defined by the Presidency Towns Insolvency Act or in Provincial Insolvency act or any amending status.

  • EU Insolvency Regulation means Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast).

  • Financial Insolvency means, with respect to any Named Entity covered under any Coverage Part designated as “included” in the Declarations attached hereto:

  • Unassigned medication for respiratory distress means albuterol, levalbuterol, or another medication designated by the executive commission of the Health and Human Services Commission for treatment of respiratory distress, prescribed by an authorized health-care provider in the name of the district with a non-patient-specific standing delegation order for the administration of a medication for respiratory distress, and issued by an authorized health-care provider.

  • Event of Insolvency means, for any Person:

  • Abortion-inducing drug means a drug, medicine, mixture, or preparation, when it is prescribed or administered with the intent to terminate the pregnancy of a woman known to be pregnant.

  • Applicable Insolvency Laws means all Applicable Laws governing bankruptcy, reorganization, arrangement, adjustment of debts, relief of debtors, dissolution, insolvency, fraudulent transfers or conveyances or other similar laws (including, without limitation, 11 U.S.C. Sections 544, 547, 548 and 550 and other “avoidance” provisions of Title 11 of the United States Code, as amended or supplemented).

  • Autism spectrum disorder means a neuro-developmental condition typically appearing in the first three years of life that significantly affects a person's ability to communicate, understand relationships and relate to others, and is frequently associated with unusual or stereotypical rituals or behaviours.

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

  • Autism spectrum disorders means any of the pervasive developmental disorders as defined by the Diagnostic and Statistical Manual of Mental Disorders, 4th edition, published by the American Psychiatric Association, including autistic disorder, Asperger's disorder and pervasive developmental disorder not otherwise specified.

  • Excess Bankruptcy Loss Any Bankruptcy Loss, or portion thereof, which exceeds the then applicable Bankruptcy Amount.

  • United States Bankruptcy Code means the Bankruptcy Reform Act of 1978, as amended and as codified in Title 11 of the United States Code, as amended from time to time hereafter, or any successor federal bankruptcy law.

  • Severe Intellectual Disability means a level of functioning severely below age expectations whereby in a consistent basis the student is incapable of giving evidence of understanding and responding in a positive manner to simple directions expressed in the child's primary mode of communication and cannot in some manner express basic wants and needs.

  • Lender Insolvency Event means that (i) a Lender or its Parent Company is insolvent, or is generally unable to pay its debts as they become due, or admits in writing its inability to pay its debts as they become due, or makes a general assignment for the benefit of its creditors, or (ii) such Lender or its Parent Company is the subject of a bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or a receiver, trustee, conservator, intervenor or sequestrator or the like has been appointed for such Lender or its Parent Company, or such Lender or its Parent Company has taken any action in furtherance of or indicating its consent to or acquiescence in any such proceeding or appointment.

  • primary insolvency jurisdiction means the Contracting State in which the centre of the debtor’s main interests is situated, which for this purpose shall be deemed to be the place of the debtor’s statutory seat or, if there is none, the place where the debtor is incorporated or formed, unless proved otherwise;

  • U.S. Bankruptcy Code means Title 11 of the United States Code, as amended, or any similar federal or state law for the relief of debtors.

  • Liquidation Process Regulations means, the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations 2016 as amended from time to time;

  • SOUND NATURAL TEETH means teeth that: SPECIALTY PRESCRIPTION DRUG is a type of prescription drug listed on our

  • Respiratory protective equipment means an apparatus, such as a respirator, used to reduce an individual's intake of airborne radioactive materials.

  • Attack directed against any civilian population means a course of conduct involving the multiple commission of acts referred to in paragraph 1 against any civilian population, pursuant to or in furtherance of a State or organizational policy to commit such attack;

  • Insolvency Act means the Insolvency Xxx 0000;

  • Bankruptcy Proceeding means any case, action or proceeding before any court or other Governmental Authority relating to any Bankruptcy Event.

  • Imminent danger to the health and safety of the public means the existence of any condition or practice, or any violation of a permit or other requirement of this article, in a surface coal mining and reclamation operation which could reasonably be expected to cause substantial physical harm to persons outside the permit area before such condition, practice, or violation can be abated. A reasonable expectation of death or serious injury before abatement exists if a rational person, subjected to the same conditions, or practices giving rise to the peril, would not expose himself to the danger during the time necessary for abatement.

  • Criminal drug statute means a Federal or non-Federal criminal statute involving the manufacture, distribution, dispensing, possession or use of any controlled substance.

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.

  • consumer dispute means a dispute where the person against whom a complaint has been made, denies or disputes the allegations contained in the complaint;