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Bankruptcy or Insolvency
Bankruptcy or Insolvency contract clause examples
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Bankruptcy. As of the date of origination of the related Mortgage Loan and to the Seller’s knowledge as of the Cut-off Date, neither the Mortgaged Property (other than any tenants of such Mortgaged Property), nor any portion thereof, is the subject of, and

Bankruptcy. The Parties acknowledge and agree that all releases, rights, covenants and licenses granted by Enzo under or pursuant to this Agreement, including the Limited Standstill in

Bankruptcy. No bankruptcy, reorganization or arrangement proceedings are pending against, being contemplated by, or to the Knowledge of Crestwood, threatened against Crestwood, Crestwood Parent, Newco, Newco Service Company or any Contributed Entity.

Termination for Bankruptcy, Insolvency or Similar Event. In the event that either Party # becomes the subject, whether voluntarily or involuntarily, of any bankruptcy, insolvency, receivership or similar proceeding, # makes an assignment for the benefit of creditors, # appoints or suffers appointment of a receiver or trustee over substantially all of its property, # proposes a written agreement of composition, arrangement, readjustment or extension of its debts, # proposes or is a party to any dissolution or liquidation or otherwise ceases to do business or winds up its affairs, # admits in writing its inability to meet its obligations as they fall due in the general course, or # becomes subject to a warrant of attachment, execution, or distraint or similar process against substantially all of its property, then the other Party may terminate this Agreement, in whole or in part and in its sole discretion, effective immediately upon written notice to such other Party as specified in Section 13.9 of this Agreement.

Insolvency Event. An Insolvency Event shall have occurred with respect to [[Organization C:Organization]] or any Affiliate; or

Insolvency Events. Tenant or any guarantor or surety of Tenant’s obligations hereunder shall: # make a general assignment for the benefit of creditors; # commence any case, proceeding or other action seeking to have an order for relief entered on its behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or of any substantial part of its property (collectively a “Proceeding for Relief); # become the subject of any Proceeding for Relief which is not dismissed within 90 days of its filing or entry; or # die or suffer a legal disability (if Tenant, guarantor, or surety is an individual) or be dissolved or otherwise fail to maintain its legal existence (if Tenant, guarantor or surety is a corporation, partnership or other entity).

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)].

a notice shall have been issued to convene a meeting for the purpose of passing a resolution to wind up that Party, or such a resolution shall have been passed other than a resolution for the solvent reconstruction or reorganisation of that Party;

Bankruptcy and Insolvency Matters

The Sale Order shall have been entered on the docket of the Bankruptcy Court as soon as practicable and no later than the Sale Order Deadline and shall have become a Final Order.

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