Common use of Assignments for Benefit of Creditors, Etc Clause in Contracts

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

Assignments for Benefit of Creditors, Etc. any Obligor ----------------------------------------- makes an assignment for the benefit of its or his creditors, or admits in writing its or his 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 or his Property; or