Insolvency Event. An Insolvency Event shall have occurred with respect to [[Organization C:Organization]] or any Affiliate; or
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;
Insolvency. The commencement of an Insolvency Proceeding by or against any Borrower or Guarantor or their assets and, if instituted against the Borrower or any Guarantor, are consented to or are not dismissed within 60 days after such commencement, or an order for relief is entered in an such Insolvency Proceeding, or the making by any Borrower or any Guarantor of any offer of settlement, extension or composition to its unsecured creditors generally;
Insolvency. Insolvency of any of the Healthtech Parties, or assignment for the benefit of creditors by Borrower, or commencement of a voluntary or involuntary case in bankruptcy, receivership or insolvency by or against the Healthtech Parties; or
Insolvency. (a) A Co-Borrower or any of its Subsidiaries is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; # a Co-Borrower or any of its Subsidiaries begins an Insolvency Proceeding; or # an Insolvency Proceeding is begun against a Co-Borrower or any of its Subsidiaries and is not dismissed or stayed within forty-five (45) days (but no Credit Extensions shall be made while any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed);
Insolvency. Should Guarantor become insolvent, or fail to pay Guarantors debts generally as they become due, or voluntarily seek, consent to, or acquiesce in the benefit or benefits of any Debtor Relief Law, or become a party to (or be made the subject of) any proceeding provided for by any Debtor Relief Law (other than as a creditor or claimant) that could reasonably be expected to suspend or otherwise adversely affect the rights and remedies of [[Organization C:Organization]] granted hereunder, then, in any such event, the Guaranteed Obligations shall be, as between Guarantor and [[Organization C:Organization]], a fully matured, due, and payable obligation of Guarantor to [[Organization C:Organization]] (without regard to whether [[Organization B:Organization]] is then in default under any Warehouse Documents or whether the Guaranteed Obligations, or any part thereof is then due and owing by [[Organization B:Organization]] to [[Organization C:Organization]]), payable in full by Guarantor to [[Organization C:Organization]] upon demand, which shall be the estimated amount owing in respect of the contingent claim created hereunder.
Insolvency. Maker makes an assignment for the benefit of any one or more of its creditors; or
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 Events. Tenant or any guarantor or surety of Tenants 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, Etc. Any Loan Party or any Subsidiary thereof 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 sixty (60) calendar days, or an order for relief is entered in any such proceeding; or
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.