Assignments for Benefit of Creditors, Etc Clause Samples
The "Assignments for Benefit of Creditors, Etc" clause primarily addresses situations where a party to the contract becomes insolvent or takes actions related to bankruptcy or debt settlement. It typically outlines the consequences if a party assigns its assets for the benefit of creditors, files for bankruptcy, or is subject to similar proceedings, often allowing the other party to terminate the agreement or take protective measures. This clause serves to protect the non-defaulting party from the risks associated with the other party's financial instability, ensuring that contractual obligations are not compromised by insolvency events.
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Assignments for Benefit of Creditors, Etc the Company or any Subsidiary shall make an assignment for the benefit of its creditors, or shall admit in writing its inability, or shall fail, to pay its debts generally as they become due, or shall consent to the appointment of a receiver, liquidator or trustee of the Company or any Subsidiary or of all or any part of the Property of them; or
Assignments for Benefit of Creditors, Etc. Borrower or any Guarantor makes an assignment for the benefit of its creditors, or admits in writing its inability to pay its debts generally as they become due, or consents to the appointment of a receiver, trustee, or liquidator of itself or of all or any part of its Property; or
Assignments for Benefit of Creditors, Etc. The Borrower or any Material Subsidiary makes an assignment for the benefit of its creditors, or admits its inability to pay its debts as they become due, or consents to the appointment of a receiver, custodian, trustee or liquidator of the Borrower or any Material Subsidiary or of all or any part of its respective Property; or
Assignments for Benefit of Creditors, Etc the Company or a Restricted Subsidiary makes an assignment for the benefit of its creditors, or admits in writing its inability, or fails, to pay its debts generally as they become due, or consents to the appointment of a receiver, liquidator or trustee of the Company or a Restricted Subsidiary or of all or a substantial part of its Property;
Assignments for Benefit of Creditors, Etc. EPOS makes an assignment for the benefit of its creditors, or admits in writing its inability, or fails, to pay its debts generally as they become due, or consents to the appointment of a receiver, conservator, custodian, liquidator or trustee of EPOS or of all or any part of its properties.
Assignments for Benefit of Creditors, Etc. PQPC makes an assignment for the benefit of its creditors, or admits in writing its inability, or fails, to pay its debts generally as they become due, or consents to the appointment of a receiver, conservator, custodian, liquidator or trustee of PQPC or of all or any part of its properties.
Assignments for Benefit of Creditors, Etc. If any Loan Party makes an assignment for the benefit of creditors, or admits in writing its inability to pay its debts generally as they become due, or consents to the appointment of a receiver, trustee or liquidator of itself or of all or any part of its properties.
Assignments for Benefit of Creditors, Etc. If Borrower, American Telemedia Ltd., ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ or ▇▇▇▇ ▇▇▇▇▇ makes an assignment for the benefit of creditors, or admits in writing its or his inability to pay its or his debts generally as they become due, or consents to the appointment of a receiver, trustee, or liquidator of itself or of all or any part of its or his properties; or
Assignments for Benefit of Creditors, Etc the ----------------------------------------- Company makes an assignment for the benefit of its creditors, or generally fails to pay its debts as they become due, or consents to the appointment of or taking possession by a custodian, receiver, liquidator or trustee of the Company or of all or any part of the Property of the Company; or
Assignments for Benefit of Creditors, Etc any Obligor ----------------------------------------- makes an assignment for the benefit of its creditors, or admits in writing its inability, or fails, to pay its debts generally as they become due, or consents to the appointment of a receiver, liquidator or trustee of the any Obligor or of all or a substantial part of its Property; or