Insolvency

Insolvency. Shall mean a financial condition of a party such that the sum of such party's debts is greater than the value of all of such party's property, at a fair market valuation, exclusive of: (i) property transferred, concealed or removed with intent to hinder, delay or defraud such entity's creditors; and (ii) property that may be exempted from property of such party's estate.

Insolvency. Means a Party becoming insolvent or unable to pay its debts as they mature, filing a voluntary petition in bankruptcy, filing an answer admitting to the jurisdiction of the court and the material allegations of an involuntary petition, making an assignment for the benefit of creditors, or applying for or consenting to the appointment of any receiver or trustee for all or substantially all of its property.

Insolvency. (i) the Company is unable to pay its debts as they become due, or (ii) the Company is subject to a pending proceeding as a debtor under the United States Bankruptcy Code

Insolvency. The meaning set forth in the definition of Bankruptcy hereof