An Obligor Clause Samples
The 'An Obligor' clause defines the party in a contract who is legally bound to fulfill certain obligations or duties specified in the agreement. In practice, this clause identifies the individual or entity responsible for performing actions such as making payments, delivering goods, or providing services under the contract. By clearly designating the obligor, the clause ensures that all parties understand who is accountable for meeting the contract's requirements, thereby reducing ambiguity and potential disputes regarding responsibility.
POPULAR SAMPLE Copied 8 times
An Obligor. (i) is unable or admits inability to pay its debts as they fall due;
(ii) is deemed to, or is declared to, be unable to pay its debts under applicable law;
(iii) suspends or threatens to suspend making payments on any of its debts; or
(iv) by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors (excluding any Finance Party in its capacity as such) with a view to rescheduling any of its indebtedness.
An Obligor is unable or admits inability to pay its debts as they fall due;
An Obligor. 24.6.1.1 is unable or admits inability to pay its debts as they fall due;
24.6.1.2 suspends making payments on any of its debts; or
24.6.1.3 by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness.
An Obligor. (i) is unable or admits inability to pay its debts as they fall due; or
(ii) suspends making payments on any of its debts due to it being unable to pay its debts.
An Obligor. (i) voluntarily commences any proceeding or files any proposal or petition, or notice thereof, including, without limitation, a notice of intention under the Bankruptcy and Insolvency Act (Canada) (the "BIA"), seeks relief under the BIA, the Companies' Creditors Arrangement Act (Canada), the U.S. Bankruptcy Code or any other federal, state, provincial or other bankruptcy, insolvency or similar law;
(ii) consents to the institution of, or fails to controvert in a timely and appropriate manner, any such proceeding, or the filing of any such petition;
(iii) applies for or consents to the appointment of a receiver, trustee, custodian, sequestrator or similar official for such Obligor or any Subsidiary or such Obligor, or for a substantial part of its property; (iv) files an answer admitting the material allegations of a petition filed against it at any such proceeding;
An Obligor. (i) is unable or admits inability to pay its debts as they fall due;
(ii) suspends making payments on any of its debts; or
(iii) by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors (excluding any Finance Party in its capacity as such) with a view to rescheduling any of its Financial Indebtedness or takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in Clause 22.7 (Insolvency proceedings) below.
An Obligor. (i) is unable or admits inability to pay its debts as they fall due for the purposes of section 123(1) or section 123(2) of the Insolvency Act 1986;
(ii) suspends or threatens to suspend making payments on any of its debts; or
(iii) by reason of actual or anticipated financial difficulties, commences formal negotiations with one or more of its creditors (excluding the Agent or the Security Trustee in its capacity as such) with a view to rescheduling any of its indebtedness; or
An Obligor or Senior Obligor is, pursuant to a final judicial decision or arbitral award, under an obligation to pay amounts to third parties which overall exceed Euro 20,000,000 (or its equivalent in other currency) and which are not insured in whole or in part by insurance policies such that the part payable which is not incurred exceeds the said threshold.
An Obligor. SIGNED by PHONETIME INC acting by the following person(s) who, in accordance with the laws of its territory of incorporation, is/are acting under the actual authority of such party ) ) ) ) ) )/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Director
An Obligor. (or the relevant Cash Manager on its behalf) (or, following the commencement of a Standstill Period, the Borrower Standstill Cash Manager) (or, following delivery an Acceleration Notice, the Borrower Security Trustee or any Receiver appointed by the Borrower Security Trustee) and the Account Bank may, from time to time, agree, in writing, rules governing the operation of the Borrower Accounts in order to resolve administration problems and facilitate the operation of this Agreement.