Issuer Insolvency Event

Issuer Insolvency Event. Any of the following: (A) The Issuer (i) files, or consents by answer or otherwise to the filing against it of, a petition or Reorganization (as defined below), (ii) makes an assignment for the benefit of its creditors, (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, (iv) is adjudicated as insolvent or to be liquidated, or (v) takes corporate action for the... purpose of approving a Reorganization with respect to the Issuer, or any of the foregoing; (B) a governmental authority enters an order appointing, without consent by the Issuer, a custodian, receiver, trustee or other officer with similar powers with respect to the Issuer or with respect to any substantial part of the Issuer's property, or constituting an order for relief or approving a petition for Reorganization, or any such petition is filed against the Issuer and such petition is not dismissed within sixty (60) days; or (C) the Issuer fails to pay scheduled principal or interest on the Pledged Note as and when due and such failure remains uncured for fifteen (15) Business Days View More