Common use of Moratorium on payments Clause in Contracts

Moratorium on payments. The Borrower (i) enters into or proposes to enter into; or (ii) there is declared by any competent court or authority, a moratorium on the payment of Indebtedness or other suspensions of payments generally; or

Moratorium on payments. The Borrower (i) enters into or proposes to enter into; or (ii) there is declared by any competent court or authority, a moratorium on the payment of Indebtedness or other suspensions of payments generallygenerally including corporate voluntary arrangement, judicial management, scheme of compromise or arrangement; or