Common use of Dissolution or Insolvency Clause in Contracts

Dissolution or Insolvency. The dissolution or any other termination of Borrower's existence as a going business or the insolvency of Borrower, or the appointment of a receiver for all of Borrower's property, or any assignment for the benefit of creditors or the commencement of any proceeding under any bankruptcy or insolvency law with respect to Borrower.

Dissolution or Insolvency. The dissolution of Borrower, any member withdraws from Borrower, or any other termination of any Borrower's existence as a going business or business, the insolvency of any Borrower, or the appointment of a receiver for all any part of any Borrower's property, or any assignment for the benefit of creditors creditors, or the commencement of any proceeding under any bankruptcy or insolvency law with respect to Borrowerlaws by or against Borrower not dismissed within sixty (60) days.