XXXX Insolvency Event definition

XXXX Insolvency Event means (1) the commencement by XXXX of a voluntary case under the federal bankruptcy law, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy, insolvency or other similar law, (2) the consent by XXXX to the appointment of or taking possession by a receiver, liquidator, trustee, custodian (or other similar official) of or for XXXX or for any substantial part of its property, (3) the making by XXXX of any assignment for the benefit of creditors, (4) the insolvency or the failure of XXXX generally to pay its debts as such debts become due, or (5) a default under one or more guaranty agreements to which XXXX is a party because of a failure to pay claims, or the taking of action by XXXX in furtherance of any of the foregoing.
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XXXX Insolvency Event means (1) the commencement by XXXX of a voluntary petition under the federal bankruptcy laws, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy, insolvency or other similar laws, (2) the consent by XXXX to the appointment of or taking possession by a receiver, liquidator, trustee, custodian (or other similar official) of or for XXXX or for any substantial part of its property, (3) the making by XXXX of any assignment for the benefit of creditors, (4) the insolvency or the failure of XXXX generally to pay its debts as such debts become due, (5) the downgrading of TERI's credit worthiness below the rating on January 2, 2003 or the placement of a negative watch on XXXX by one of the Rating Agencies, or (6) a default under one or more Guaranty Agreements to which XXXX is a party because of a failure to pay claims, or the taking of action by XXXX in furtherance of any of the foregoing.
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XXXX Insolvency Event means (1) the commencement by XXXX of a voluntary petition under the federal bankruptcy laws, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy, insolvency or other similar laws, (2) the consent by XXXX to the appointment of or taking possession by a receiver, liquidator, trustee, custodian (or other similar official) of or for XXXX or for any substantial part of its property, (3) the making by XXXX of any assignment for the benefit of creditors, (4) the insolvency or the failure of XXXX generally to pay its debts as such debts become due, (5) the downgrading of TERI’s credit worthiness below the rating on January 2, 2003 or the placement of a negative watch on XXXX by one of the Rating Agencies, or (6) a default under one or more Guaranty Agreements to which XXXX is a party because of a failure to pay claims, or the taking of action by XXXX in furtherance of any of the foregoing. “Term” shall mean the period commencing on the Effective Date hereof and ending upon termination hereof, all as set forth in Article X. “Total Principal Amount” means the total principal amount of Seasoned Loans available to be sold and purchased from Program Lender plus the total principal amount of all BAGEL Seasoned Loans available to be sold and purchased from Program Lender. “Trust Agreement” means, with respect to any particular Securitization Transaction, the agreement pursuant to which a Purchaser Trust is formed. “Trust Indenture” means, with respect to any particular Securitization Transaction, the agreement pursuant to which FMC or a Purchaser Trust issues evidences of indebtedness secured by the payments on the related Bank of America DTC Loans. “Umbrella Agreement” shall mean that certain agreement of same name between Program Lender and FMC of even date. II. Agreement for Purchase and Sale of Notes. 2.01.
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Examples of XXXX Insolvency Event in a sentence

  • In the case of a termination notice given because of expiration of the Guaranty Agreement, occurrence of a XXXX Insolvency Event, breach of the Guaranty Agreement by XXXX, breach of the Note Purchase Agreement by FMC, or because of the initiation of a proceeding made under the U.S. Bankruptcy Code or similar proceeding by FMC, Program Lender may elect to take only those further actions as are required to fulfill the legal rights of borrowers and applicants.

  • The definition of XXXX Insolvency Event, as adopted herein, is hereby added to the definitions section of the Umbrella Agreement.

  • In the event of termination under any of Sections 10.01(a)(2), (3), (5), 10.01(b)(3), (4) or (5), neither party shall have any further obligations to purchase or sell Loans under this Agreement, but, except in the case of a XXXX Insolvency Event, each party shall have any remedy for breach as provided by law.


More Definitions of XXXX Insolvency Event

XXXX Insolvency Event means (1) the commencement by XXXX of a voluntary case under the federal bankruptcy law, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy, insolvency or other similar law, (2) the consent by XXXX to the appointment of or taking possession by a receiver, liquidator, trustee, custodian (or other similar official) of or for XXXX or for any substantial part of its property,
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XXXX Insolvency Event means (1) the commencement by XXXX of a voluntary petition under the federal bankruptcy laws, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy, insolvency or other similar laws, (2) the consent by XXXX to the appointment of or taking possession by a receiver, liquidator, trustee, custodian (or other similar official) of or for XXXX or for any substantial part of its property, (3) the making by XXXX of any assignment for the benefit of creditors, (4) the insolvency or the failure of XXXX generally to pay its debts as such debts become due, (5) the downgrading of TERI's credit worthiness below "A" by Fitch Investors Service ("Fitch"), below Baa3 by Xxxxx'x Investors Service, Inc. ("Moody's"), or public announcement of the placement of XXXX on a watchlist for possible downgrade by Moody's or Fitch, or (6) a default under one or more Guaranty Agreements to which XXXX is a party because of a failure to pay claims, or the taking of action by XXXX in furtherance of any of the foregoing.
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Related to XXXX Insolvency Event

  • Insolvency Event means, with respect to a specified Person, (a) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing.

  • 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.

  • Bankruptcy Event means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.

  • Event of Insolvency means, for any Person:

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • XXXX Event means if there are any Mortgaged Properties at any time, any increase, extension of the maturity or renewal of any of the Commitments or Loans (including any incremental credit facility hereunder, but excluding (i) any continuation or conversion of Borrowings, (ii) the making of any Revolving Loans or (iii) the issuance, renewal or extension of Letters of Credit).

  • Delinquency Event A Delinquency Event shall have occurred with respect to any Distribution Date if the Rolling Three Month Delinquency Rate as of the last day of the immediately preceding calendar month equals or exceeds 53.00% of the Senior Enhancement Percentage for such Distribution Date.

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Event of Bankruptcy shall be deemed to have occurred with respect to a Person if either:

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Relief Event means any of the following events or circumstances if and to the extent it interferes adversely with, or causes a failure of, the carrying out of the Design, the Construction or the Services or causes an Unavailability Event:

  • Emergency Event means any situation arising from sudden and reasonably unforeseen natural disaster such as earthquake, flood, fire, or other acts of God, or other unforeseen events beyond the control of the portable engine or equipment unit operator, its officers, employees, and contractors that threatens public health and safety and that requires the immediate temporary operation of portable engines or equipment units to help alleviate the threat to public health and safety.

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

  • 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.

  • Expropriation Event means the appropriation, confiscation, expropriation, cancellation, seizure or nationalization (by Requirement of Law, intervention, court order, condemnation, exercise of eminent domain or other action or form of taking) of ownership or control of a Credit Party or any of its Subsidiaries or of any Project or any substantial portion thereof, or any substantial portion of the rights related thereto, or any substantial portion of the economic value thereof, or which prevents or materially interferes with the ability of a Person to own or operate the property subject to such action, including by the imposition of any Tax, fee, charge or royalty.

  • Specified Event has the meaning given to such term in the definition of “Consolidated EBITDA.”

  • Threshold Event Collateral shall have the meaning assigned to such term in Section 5(g).

  • Section 11(a)(ii) Event means any event described in Section 11(a)(ii) hereof.

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

  • 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).

  • Servicer Event of Termination One or more of the events described in Section 7.01.

  • Early Dissolution Event has the meaning specified in Section 9.2.

  • Insolvency Proceedings means, with respect to any Person, any case or proceeding with respect to such Person under U.S. federal bankruptcy laws or any other state, federal or foreign bankruptcy, insolvency, reorganization, liquidation, receivership or other similar laws, or the appointment, whether at common law, in equity or otherwise, of any trustee, custodian, receiver, liquidator or the like for all or any material portion of the property of such Person.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Servicer Event of Default One or more of the events described in Section 7.01.