Bankruptcy Event definition: Copy, customize, and use instantly
Introduction
The term "Bankruptcy Event" refers to a situation where an entity undergoes bankruptcy, insolvency, or financial distress, triggering legal or contractual consequences. It is essential for defining rights and obligations in agreements, particularly in financing, credit, and investment contracts, where the occurrence of such an event can lead to acceleration of obligations, enforcement of security interests, or termination of agreements.
Below are various examples of how "Bankruptcy Event" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Bankruptcy Event" as an insolvency declaration
This definition ties "Bankruptcy Event" to a formal declaration of insolvency.
"Bankruptcy Event" means the declaration by a court of competent jurisdiction that an entity is insolvent and unable to meet its financial obligations.
Definition of "Bankruptcy Event" as a voluntary bankruptcy filing
This definition connects "Bankruptcy Event" to an entity's decision to file for bankruptcy.
"Bankruptcy Event" means the voluntary filing of a bankruptcy petition by an entity under any applicable bankruptcy or insolvency law.
Definition of "Bankruptcy Event" as an involuntary bankruptcy proceeding
This definition links "Bankruptcy Event" to bankruptcy proceedings initiated by creditors.
"Bankruptcy Event" refers to the commencement of an involuntary bankruptcy proceeding against an entity that is not dismissed within a specified period.
Definition of "Bankruptcy Event" as an assignment for the benefit of creditors
This definition ties "Bankruptcy Event" to a transfer of assets to creditors.
"Bankruptcy Event" means the execution of a general assignment by an entity for the benefit of its creditors due to financial distress.
Definition of "Bankruptcy Event" as a liquidation process
This definition connects "Bankruptcy Event" to the process of liquidating an entity’s assets.
"Bankruptcy Event" means the initiation of liquidation, dissolution, or winding up proceedings against an entity, whether voluntarily or involuntarily.
Definition of "Bankruptcy Event" as the appointment of a trustee or receiver
This definition links "Bankruptcy Event" to court-appointed financial oversight.
"Bankruptcy Event" means the appointment of a trustee, receiver, or similar official to oversee the assets of an entity due to financial instability.
Definition of "Bankruptcy Event" as a debt restructuring order
This definition ties "Bankruptcy Event" to a court-mandated debt adjustment.
"Bankruptcy Event" refers to an order issued by a court or regulatory authority mandating the restructuring or adjustment of an entity’s outstanding debts.
Definition of "Bankruptcy Event" as a cessation of business operations
This definition connects "Bankruptcy Event" to a company's operational shutdown due to insolvency.
"Bankruptcy Event" means the cessation of an entity’s business operations resulting from financial distress or insolvency proceedings.
Definition of "Bankruptcy Event" as an inability to pay debts
This definition links "Bankruptcy Event" to a company's failure to meet its debt obligations.
"Bankruptcy Event" refers to the inability of an entity to pay its debts as they become due, leading to insolvency proceedings.
Definition of "Bankruptcy Event" as a bankruptcy protection filing
This definition ties "Bankruptcy Event" to legal protection against creditors.
"Bankruptcy Event" means an entity’s filing for protection under applicable bankruptcy laws to reorganize or liquidate its debts.
Definition of "Bankruptcy Event" as a judicial bankruptcy declaration
This definition connects "Bankruptcy Event" to a court's formal determination of insolvency.
"Bankruptcy Event" refers to a judicial declaration that an entity is bankrupt, resulting in the administration of its assets by a court-appointed official.
Definition of "Bankruptcy Event" as an event of default under financing agreements
This definition links "Bankruptcy Event" to breaches of financing obligations.
"Bankruptcy Event" means any event triggering a default under a financing agreement due to an entity’s insolvency or financial instability.
Definition of "Bankruptcy Event" as a fraudulent transfer determination
This definition ties "Bankruptcy Event" to voided transactions due to insolvency.
"Bankruptcy Event" means a determination by a court that a transfer of assets by an entity was fraudulent and should be reversed due to insolvency.
Definition of "Bankruptcy Event" as a company entering administration
This definition connects "Bankruptcy Event" to the appointment of an administrator for an insolvent company.
"Bankruptcy Event" refers to the placement of an entity under administration due to financial distress, with control transferred to an appointed administrator.
Definition of "Bankruptcy Event" as the dissolution of a corporate entity
This definition links "Bankruptcy Event" to the termination of a business entity.
"Bankruptcy Event" means the formal dissolution of an entity due to insolvency or other financial circumstances leading to its legal termination.
Definition of "Bankruptcy Event" as a moratorium on debt enforcement
This definition ties "Bankruptcy Event" to a temporary suspension of creditor actions.
"Bankruptcy Event" refers to a legal moratorium preventing creditors from enforcing claims against an entity due to ongoing insolvency proceedings.
Definition of "Bankruptcy Event" as an out-of-court restructuring failure
This definition connects "Bankruptcy Event" to unsuccessful attempts at financial restructuring.
"Bankruptcy Event" means the failure of an entity’s out-of-court restructuring efforts, leading to formal insolvency proceedings.
Definition of "Bankruptcy Event" as a breach of capital adequacy requirements
This definition links "Bankruptcy Event" to regulatory capital deficiencies.
"Bankruptcy Event" means an entity’s failure to maintain required capital levels under applicable financial regulations, triggering insolvency actions.
Definition of "Bankruptcy Event" as a court-supervised reorganization
This definition ties "Bankruptcy Event" to a restructuring overseen by a court.
"Bankruptcy Event" refers to a court-ordered reorganization of an entity’s financial obligations under applicable bankruptcy statutes.
Definition of "Bankruptcy Event" as a filing under specific bankruptcy chapters
This definition ties "Bankruptcy Event" to specific legal bankruptcy proceedings.
"Bankruptcy Event" means the filing of a petition under Chapter 7 or Chapter 11 of the United States Bankruptcy Code or any similar insolvency law.
Definition of "Bankruptcy Event" as a suspension of debt payments
This definition connects "Bankruptcy Event" to a temporary halt in an entity's debt repayments.
"Bankruptcy Event" means a suspension or deferral of debt payments by an entity due to financial distress, whether voluntary or imposed by law.
Definition of "Bankruptcy Event" as a court-appointed custodian action
This definition links "Bankruptcy Event" to asset control by a court officer.
"Bankruptcy Event" refers to the appointment of a custodian, liquidator, or similar officer to take control of an entity’s assets due to financial instability.
Definition of "Bankruptcy Event" as a composition with creditors
This definition ties "Bankruptcy Event" to agreements between debtors and creditors to restructure obligations.
"Bankruptcy Event" means the execution of a composition agreement or similar arrangement with creditors to modify or reduce outstanding debt obligations.
Definition of "Bankruptcy Event" as a debt maturity acceleration
This definition connects "Bankruptcy Event" to the premature enforcement of debt repayment.
"Bankruptcy Event" refers to an acceleration of an entity’s outstanding debt obligations due to an event of default related to insolvency.
Definition of "Bankruptcy Event" as a declaration of financial distress
This definition links "Bankruptcy Event" to an official admission of insolvency.
"Bankruptcy Event" means a formal declaration by an entity that it is unable to pay its debts as they become due.
Definition of "Bankruptcy Event" as a forced liquidation
This definition ties "Bankruptcy Event" to court-mandated asset liquidation.
"Bankruptcy Event" refers to the forced sale of an entity’s assets under court supervision to satisfy outstanding financial obligations.
Definition of "Bankruptcy Event" as a creditor's petition
This definition connects "Bankruptcy Event" to a legal claim by creditors.
"Bankruptcy Event" means the filing of a petition by one or more creditors seeking to place an entity into bankruptcy or insolvency proceedings.
Definition of "Bankruptcy Event" as an official notice of insolvency
This definition links "Bankruptcy Event" to required legal notifications.
"Bankruptcy Event" refers to the issuance of a formal insolvency notice, whether by a court, regulatory body, or the entity itself.
Definition of "Bankruptcy Event" as a repudiation of financial obligations
This definition ties "Bankruptcy Event" to a debtor’s refusal to honor debts.
"Bankruptcy Event" means the repudiation or non-recognition of financial obligations by an entity, leading to legal proceedings.
Definition of "Bankruptcy Event" as an inability to secure new credit
This definition connects "Bankruptcy Event" to the loss of financial credibility.
"Bankruptcy Event" refers to an entity’s inability to obtain further credit or financing due to insolvency or financial deterioration.
Definition of "Bankruptcy Event" as a debt-to-equity conversion due to insolvency
This definition links "Bankruptcy Event" to restructuring through equity transfers.
"Bankruptcy Event" means the conversion of outstanding debt into equity due to an entity’s inability to repay financial obligations.
Definition of "Bankruptcy Event" as the appointment of an interim administrator
This definition ties "Bankruptcy Event" to provisional financial oversight.
"Bankruptcy Event" refers to the appointment of an interim administrator to manage an entity’s affairs during financial distress.
Definition of "Bankruptcy Event" as a financial institution failure
This definition connects "Bankruptcy Event" to banking sector insolvency.
"Bankruptcy Event" means the failure of a financial institution resulting in regulatory intervention or forced restructuring.
Definition of "Bankruptcy Event" as an asset freeze by authorities
This definition links "Bankruptcy Event" to governmental action against an entity.
"Bankruptcy Event" refers to the freezing of an entity’s assets by a regulatory authority due to financial instability or insolvency.
Definition of "Bankruptcy Event" as a declaration of capital insufficiency
This definition ties "Bankruptcy Event" to the failure to meet capital requirements.
"Bankruptcy Event" means a determination that an entity lacks sufficient capital to continue operations under applicable financial regulations.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.