Voluntary Bankruptcy

Voluntary Bankruptcy. With respect to any Person, the inability of such Person generally to pay its debts as such debts become due, or an admission in writing by such Person of its inability to pay its debts generally or a general assignment by such Person for the benefit of creditors; the filing of any petition or answer by such Person seeking to adjudicate it as bankrupt or insolvent, or seeking for itself any liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of... such Person or its debts under any law relating to bankruptcy, insolvency, or reorganization or relief of debtors, or seeking, consenting to, acquiescing in the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for such Person or for substantial part of its property; or corporate action taken by such Person to authorize any of the actions set forth above. View More