INSOLVENCY OPTION EVENT

INSOLVENCY OPTION EVENT. Means (i) If Orbital shall become subject to Chapter 11 proceedings or other proceedings under U.S. bankruptcy or similar laws and, in the event of an involuntary proceeding, the continuance of such proceeding for a period of 30 consecutive calendar days; (ii) If there shall be a material breach of the covenants ... set forth in Section 9 or Section 3.7 of the Amended and Restated Registration Rights Agreement; or (iii) If there shall be any filing under Canadian, U.S. or other bankruptcy or similar laws in respect of Holdco and, in the event of an involuntary proceeding, the continuance of such proceeding for a period of 30 consecutive calendar days. View More