The Developer. (i) files any petition in bankruptcy or for any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under the United States Bankruptcy Act or under any similar federal or State law; (ii) makes an assignment for benefit of its creditors; (iii) admits in writing its inability to pay its debts generally as they become due; or (iv) is adjudicated as bankrupt or insolvent.
Appears in 2 contracts
Sources: Contract for Private Development, Private Development Agreement
The Developer. (i) files any petition in bankruptcy or for any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under the United States Bankruptcy Act or under any similar federal or State law;
(ii) makes an assignment for benefit of its creditors;
(iii) admits the Developer institutes voluntary proceedings in writing its inability to pay its debts generally as they become due; or
(iv) is adjudicated as bankrupt or insolvent.bankruptcy,
Appears in 2 contracts
Sources: Contract for Private Development, Development Agreement