Subordination on insolvency
Bankruptcy and Insolvency Matters
Section # No Insolvency Proceedings.
For the purposes hereof, “Insolvency Statutes” means the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada), the Assignments and Preferences Act (Ontario) and the Fraudulent Conveyances Act (Ontario).
Section # INSOLVENCY OR LIQUIDATION PROCEEDINGS
Winding up, insolvency and receivership
the insolvency of the Borrower;
Section # Petition for Bankruptcy, Insolvency 19
Insolvency or Liquidation Proceeding shall mean:
No Insolvency Proceedings have been commenced against the Seller. Seller or a third party has not filed any petitions for the commencement thereof. Seller is not under any condition of insolvency, inability to pay debts, or suspension of payment, and there are no risks of insolvency, inability to pay debts, or suspension of payment as a result of the execution or performance of this Agreement.
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