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

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