Example ContractsClausesInvoluntary Bankruptcy or Insolvency Proceedings
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Involuntary Bankruptcy or Insolvency Proceedings. Proceedings for the appointment of a receiver, trustee, liquidator or custodian of Borrower or any of its Subsidiaries 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 Borrower or any of its Subsidiaries 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 thirty (30) days of commencement; or

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

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;

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

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

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)].

Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.

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Insolvency Proceedings, Etc. Any [[Loan Party:Organization]] 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, examiner 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

commencement of any proceeding relating to the bankruptcy or insolvency of the Advisor if such proceedings are not dismissed within ninety (90) days, or entry of an order for relief in an involuntary bankruptcy case or the Advisor authorizing or filing a voluntary bankruptcy petition;

Bankruptcy; Liquidation. (i) Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Company or any subsidiary of the Company or the Borrower admits in writing its inability to pay its debts generally as they mature, or have filed against it an involuntary petition for bankruptcy; or # any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business occurs.

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