Example Definitions of "Bankruptcy or Insolvency Event"
Bankruptcy or Insolvency Event. (i) the making of a general assignment for the benefit of creditors by Borrower or any guarantor of the Indebtedness; (ii) the voluntary appointment (at the request of any such party or with the consent of any such party) of a receiver, custodian, liquidator or trustee in bankruptcy of the property of Borrower or any guarantor of the Indebtedness; (iii) the filing by Borrower or any guarantor of the Indebtedness of a petition in bankruptcy or an adjudication of Borrower or any guarantor of the... Indebtedness as bankrupt or insolvent; (iv) the filing by Borrower or any guarantor of the Indebtedness of any petition or answer seeking or acquiescing in any relief under any present or future federal, state or other law or regulation relating to bankruptcy, insolvency or other relief for debtors; (v) Borrower or any guarantor of the Indebtedness admitting in writing its insolvency or inability to pay its debts generally as they become due; or (vi) the filing against Borrower or any guarantor of the Indebtedness of a petition seeking any relief under any present or future federal, state or other law or regulation relating to bankruptcy, insolvency or other similar relief for debtors, or the involuntary appointment of a receiver, custodian, liquidator or trustee in bankruptcy of the property of Borrower or any guarantor of the Indebtedness, if such petition or appointment is not vacated or discharged within thirty (30) days after the filing or making thereof.View More