Example ContractsClausesBankruptcy, Insolvency or Reorganization Proceedings
Bankruptcy, Insolvency or Reorganization Proceedings
Bankruptcy, Insolvency or Reorganization Proceedings contract clause examples

Bankruptcy, Insolvency or Reorganization Proceedings. If an Event of Default specified under [Section 9.1(g) or (h)])] shall occur, the [[Organization A:Organization]] shall be under no further obligations to make Term Loans hereunder and the unpaid principal amount of the Term Loans then outstanding and all interest accrued thereon, any unpaid fees and all other Indebtedness of the Borrower to the [[Organization A:Organization]] hereunder and thereunder automatically shall be immediately due and payable, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived; and

Bankruptcy; Insolvency. Any Bankruptcy Event shall occur with respect to Borrower.

Voluntary Bankruptcy or Insolvency Proceedings. Borrower or any of its Subsidiaries shall # apply for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, # be unable, or admit in writing its inability, to pay its obligations generally as they come due or otherwise become insolvent, # make a general assignment for the benefit of its or any of its creditors, # be dissolved or liquidated in full or in part or be subject to a distressed sale, # commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it, or # take any action for the purpose of affecting any of the foregoing; or

Involuntary Bankruptcy or Insolvency Proceedings. Proceedings for the appointment of a receiver, trustee, liquidator or custodian of [[Organization B:Organization]], or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to [[Organization B:Organization]], or the debts thereof under any bankruptcy, insolvency or other similar law now or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within forty-five (45) days of commencement;

Insolvency Proceedings. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, each Affiliated that is not an Affiliated Debt Fund hereby agrees that, if a proceeding under any Debtor Relief Law shall be commenced by or against the or any other Loan Party at a time when such is an Affiliated , such Affiliated irrevocably authorizes and empowers the Administrative to vote on behalf of such Affiliated with respect to the Term Loans held by such Affiliated in any manner in the Administrative ’s sole discretion, unless the Administrative instructs such Affiliated to vote, in which case such Affiliated shall vote with respect to the Term Loans held by it as the Administrative directs; provided that such Affiliated shall be entitled to vote in accordance with its sole discretion (and not in accordance with the direction of the Administrative ) in connection with any plan of reorganization to the extent any such plan of reorganization proposes to treat any Obligations held by such Affiliated in a manner that is less favorable in any material respect to such Affiliated than the proposed treatment of similar Obligations held by Lenders that are not Affiliates of the . The Lenders and each Affiliated that is not an Affiliated Debt Fund agree and acknowledge that the provisions set forth in this [Section 11.07(j)] and the related provisions set forth in each Assignment and Assumption entered into by an Affiliated constitute a “subordination agreement” as such term is contemplated by, and utilized in, Section 510(a) of the United States Bankruptcy Code, and, as such, would be enforceable for all purposes in any case where Holdings, the or any Restricted Subsidiary has filed for protection under any law relating to bankruptcy, insolvency or reorganization or relief of debtors applicable to Holdings, the or such Restricted Subsidiary, as applicable. Each Affiliated hereby irrevocably appoints the Administrative (such appointment being coupled with an interest) as such Affiliated ’s attorney-in-fact, with full authority in the place and stead of such Affiliated and in the name of such Affiliated (solely in respect of Term Loans and participations therein and not in respect of any other claim or status such Affiliated may otherwise have), from time to time in the Administrative ’s discretion to take any action and to execute any instrument that the Administrative may deem reasonably necessary to vote on behalf of such Affiliated as set forth in this [Section 11.07(j)].

Commencement of Bankruptcy or Reorganization Proceedings. (i) or any of its Material Subsidiaries shall commence any case, proceeding or other action # under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding‑up, liquidation, dissolution, composition or other relief with respect to it or its debts, or # seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial part of its assets, or or any of its Material Subsidiaries shall make a general assignment for the benefit of its creditors; or # there shall be commenced against or any of its Material Subsidiaries any case, proceeding or other action of a nature referred to in [clause (i) above] which # results in the entry of an order for relief or any such adjudication or appointment or # remains undismissed, undischarged or unbonded for a period of 60 days; or # there shall be commenced against or any of its Material Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; or # or any of its Material Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in [clause (i), (ii) or (iii) above]; or # or any of its Material Subsidiaries shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; or

Insolvency Proceedings, Etc. Any Credit Party or any of its Subsidiaries (other than any Immaterial Subsidiary that is not a Credit Party) institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or

Insolvency, Voluntary Proceedings. Any Borrower or any Material Subsidiary # ceases or fails to be solvent, or generally fails to pay, or admits in writing its inability to pay, its debts as they become due, subject to applicable grace periods, if any, whether at stated maturity or otherwise; # voluntarily ceases to conduct its business in the ordinary course; # commences any Insolvency Proceeding with respect to itself; or # takes any action to effectuate or authorize any of the foregoing; or

Bankruptcy. Bankruptcy, reorganization arrangement, insolvency or liquidation proceedings for relief under the United States Code or any bankruptcy law or similar law now or hereafter in force for the relief of debtors shall be instituted by or against the Borrower and, solely with respect to any proceedings instituted against the Borrower by a third party, the Borrower shall fail to dismiss or to stay such proceedings within ninety (90) days of such institution.

the institution against Maker of any proceedings under the United States Bankruptcy Code or any other federal or state bankruptcy, reorganization, receivership, insolvency or other similar law affecting the rights of creditors generally, which proceeding is not dismissed within 90 days of filing; or

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