Example ContractsClausesbankruptcy or insolvencyVariants
Remove:

If an involuntary case seeking the liquidation or reorganization of any Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against any Loan Party under any other applicable law and any of the following events occur: # such Person consents to the institution of the involuntary case or similar proceeding; # the petition commencing the involuntary case or similar proceeding is not timely controverted; # the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; # an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan Party; or # an order for relief shall have been issued or entered therein;

If an involuntary case seeking the liquidation or reorganization of any Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similarother proceeding shall be commenced against any Loan Party or any Subsidiary of a Loan Party seeking liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other applicablesimilar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, administrator, custodian or other similar official of it or any substantial part of its property, and any of the following events occur: # such Person consents to the institution of the involuntary case or similar proceeding; # the petition commencing the involuntary caseother proceeding shall remain undismissed and unstayed for a period of 60 days; or similar proceeding is not timely controverted; # the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; # an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan Party; or # an order for relief shall have been issued orbe entered therein;

If an involuntary case seeking the liquidation or reorganization of any Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similarother proceeding shall be commenced against any Loan Party or any Subsidiary of a Loan Party seeking liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other applicablesimilar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and any of the following events occur: # such Person consents to the institution of the involuntary case or similar proceeding; # the petition commencing the involuntary caseother proceeding shall remain undismissed and unstayed for a period of 60 days; or similar proceeding is not timely controverted; # the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; # an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan Party; or # an order for relief shall have been issuedbe entered against any Loan Party or entered therein;any Subsidiary of a Loan Party under the federal bankruptcy laws as now or hereafter in effect; or

Involuntary Bankruptcy, etc. If an involuntary case seeking the liquidation or reorganization of anyInsolvency Proceeding is commenced against a Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against any Loan Party under any other applicable lawof its Subsidiaries and any of the following events occur: # such PersonLoan Party or such Subsidiary consents to the institution of the involuntary case or similar proceeding;such Insolvency Proceeding against it, # the petition commencing the involuntary case or similar proceedingInsolvency Proceeding is not timely controverted;controverted, # the petition commencing the involuntary case or similar proceedingInsolvency Proceeding is not dismissed within 60 calendar days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans;thereof, # an interim trustee is appointed to take possession of all or aany substantial portion of the Assetsproperties or assets of, or to operate all or any substantial portion of anythe business of, such Loan Party;Party or its Subsidiary, or # an order for relief shall have been issued or entered therein;

If an involuntary case seeking the liquidation or reorganization of any Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similarother proceeding shall be commenced against any Loan Party or any Subsidiary of a Loan Party (other than an Immaterial Subsidiary) seeking liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other applicablesimilar law andnow or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, administrator, custodian or other similar official of it or any substantial part of the following events occur: #its property, and, in any such Person consents to the institution of thecase, such involuntary case or similar proceeding; # the petition commencing the involuntary caseother proceeding shall remain undismissed and unstayed for a period of 60 days; or similar proceeding is not timely controverted; # the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; # an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan Party; or # an order for relief shall have been issuedbe entered against any Loan Party or entered therein;any Subsidiary of a Loan Party (other than an Immaterial Subsidiary) under the federal bankruptcy laws as now or hereafter in effect; or

IfExcept as to the pending bankruptcy cases of the jointly administered under Case No. 17-11330, any Loan Party shall commence a voluntary case concerning itself under the any Debtor Relief Law; or an involuntary case seekingis commenced against any Loan Party, and the liquidationpetition is not dismissed within forty-five (45) days after the filing thereof; or reorganizationa custodian (as defined in the Bankruptcy Code), receiver, interim receiver, monitor, or administrator is appointed for, or takes charge of, all or substantially all of the property of any Loan Party under Chapter 7Party, to operate all or Chapter 11, respectively,any substantial portion of the Bankruptcy Codebusiness of such Loan Party, or, except to the extent expressly permitted by [Section 7.2], any Loan Party commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any similar proceeding shall bejurisdiction whether now or hereafter in effect relating to any Loan Parties, or there has commenced against any Loan Party under any other applicable law and anysuch proceeding which remains undismissed for a period of the following events occur: # such Person consents to the institution of the involuntary case or similar proceeding; # the petition commencing the involuntary case or similar proceeding is not timely controverted; # the petition commencing the involuntary case or similar proceeding is not dismissed within 60sixty (60) days of the date ofafter the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; # an interim trustee is appointed to take possession of allthereof, or a substantial portion of the Assets of any Loan Party;Party is adjudicated insolvent or # anbankrupt; or any order of relief is entered in any such proceeding; any Loan Party makes a general assignment for relief shall have been issuedthe benefit of creditors; or entered therein;any action is taken by any Loan Party for the purpose of authorizing

Involuntary Bankruptcy, etc. If an involuntary case seeking the liquidation or reorganization of anyInsolvency Proceeding is commenced against a Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced against any Loan Party under any other applicable lawof its Restricted Subsidiaries and any of the following events occur: # such PersonLoan Party or such Restricted Subsidiary consents to the institution of the involuntary case or similar proceeding;such Insolvency Proceeding against it, # the petition commencing the involuntary case or similar proceedingInsolvency Proceeding is not timely controverted;controverted, # the petition commencing the involuntary case or similar proceedingInsolvency Proceeding is not dismissed within 60 calendar days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans;thereof, # an interim trustee is appointed to take possession of all or aany substantial portion of the Assetsproperties or assets of, or to operate all or any substantial portion of anythe business of, such Loan Party;Party or such Restricted Subsidiary, or # an order for relief shall have been issued or entered therein;

If an involuntaryVoluntary Bankruptcy. Any Loan Party shall institute a voluntary case seeking the liquidation or reorganization of any Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy CodeCode; any Loan Party shall file a petition, answer, or complaint or shall otherwise institute any similar proceeding shall be commenced against any Loan Party under any other applicable law andlaw, or shall consent thereto; any of the following events occur: # such Person consentsLoan Party shall consent to the institutionconversion of thean involuntary case to a voluntary case; or any Loan Party shall consent or acquiesce to the appointment of a receiver, liquidator, sequestrator, custodian, trustee, or other officer with similar proceeding; # the petition commencing the involuntary case or similar proceeding is not timely controverted; # the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Group shall be relieved of its obligation to make additional Loans; # an interim trustee is appointedpowers to take possession of all or a substantial portion of the Assets ofits Assets; any Loan Party;Party shall generally fail to pay debts as such debts become due or # an ordershall admit in writing its inability to pay its debts generally; or any Loan Party shall make a general assignment for relief shall have been issued or entered therein;the benefit of creditors;

If an involuntary caseproceeding shall be commenced or an involuntary petition shall be filed seeking the liquidation# liquidation, reorganization or reorganizationother relief in respect of any Loan Party or its debts, or of a substantial part of its assets, under Chapter 7any Federal, state or Chapter 11, respectively,foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or # the appointment of the Bankruptcy Codea receiver, trustee, custodian, sequestrator, conservator or any similar proceeding shall be commenced against anyofficial for a Loan Party underor for a substantial part of its assets, and, in any other applicable law andsuch case referenced to in [clause [(i) or (ii) above]e]], such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the following events occur: # such Person consents to the institution of the involuntary case or similar proceeding; # the petition commencing the involuntary case or similar proceeding is not timely controverted; # the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Groupforegoing shall be relieved of its obligation to make additional Loans; # an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan Party; or # an order for relief shall have been issued or entered therein;entered;

If an involuntary case seeking the liquidation or reorganization of any Loan Party under Chapter 7 or Chapter 11, respectively, of the Bankruptcy Code or any similar proceeding shall be commenced againstor an involuntary petition shall be filed seeking # liquidation, reorganization or other relief in respect of a Loan Party or Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or # the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any Loan Party underor Subsidiary or for a substantial part of its assets, and, in any other applicable law andsuch case, such proceeding or petition shall continue undismissed for sixty (60) days or an order or decree approving or ordering any of the following events occur: # such Person consents to the institution of the involuntary case or similar proceeding; # the petition commencing the involuntary case or similar proceeding is not timely controverted; # the petition commencing the involuntary case or similar proceeding is not dismissed within 60 days of the date of the filing thereof; provided, however, that, during the pendency of such period, the Lender Groupforegoing shall be relieved of its obligation to make additional Loans; # an interim trustee is appointed to take possession of all or a substantial portion of the Assets of any Loan Party; or # an order for relief shall have been issued or entered therein;entered;

Load more...
Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.