Insolvency Event definition: Copy, customize, and use instantly
Introduction
The term "Insolvency Event" refers to a situation in which an individual, company, or other entity becomes unable to meet its financial obligations as they become due. Insolvency events often trigger specific rights, remedies, or obligations under contracts, including termination rights, default provisions, or enforcement of security interests.
Below are various examples of how "Insolvency Event" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Insolvency Event" in loan agreements
This definition ties "Insolvency Event" to borrower default.
"Insolvency Event" means the occurrence of any event where the borrower is unable to pay its debts as they fall due, enters into liquidation, or is subject to the appointment of an administrator, receiver, or similar official.
Definition of "Insolvency Event" in corporate governance policies
This definition connects "Insolvency Event" to organizational failure.
"Insolvency Event" refers to any event where the company is declared insolvent, files for bankruptcy, or commences proceedings for the winding up of its affairs.
Definition of "Insolvency Event" in supply agreements
This definition links "Insolvency Event" to contractual remedies.
"Insolvency Event" includes the initiation of insolvency or bankruptcy proceedings, the appointment of a liquidator, or any other event that materially affects a party’s ability to perform its contractual obligations.
Definition of "Insolvency Event" in shareholder agreements
This definition applies "Insolvency Event" to ownership interests.
"Insolvency Event" means any event where a shareholder becomes bankrupt, insolvent, or enters into arrangements with creditors, triggering the transfer or forfeiture of shares under this agreement.
Definition of "Insolvency Event" in debt restructuring agreements
This definition ties "Insolvency Event" to financial reorganization.
"Insolvency Event" refers to any event where a party initiates proceedings for restructuring debts, files for bankruptcy, or proposes a voluntary arrangement with creditors.
Definition of "Insolvency Event" in partnership agreements
This definition connects "Insolvency Event" to partner rights.
"Insolvency Event" means any occurrence where a partner is declared bankrupt, subject to insolvency proceedings, or unable to fulfill their financial obligations under the partnership agreement.
Definition of "Insolvency Event" in lease agreements
This definition links "Insolvency Event" to tenant defaults.
"Insolvency Event" includes any event where a tenant files for bankruptcy, is placed under administration, or is otherwise unable to meet its lease obligations due to insolvency.
Definition of "Insolvency Event" in secured lending agreements
This definition ties "Insolvency Event" to enforcement rights.
"Insolvency Event" refers to any situation where a borrower is declared insolvent, leading to the lender’s right to enforce security interests or recover collateral.
Definition of "Insolvency Event" in franchise agreements
This definition connects "Insolvency Event" to franchise termination.
"Insolvency Event" means any event where the franchisee becomes unable to pay its debts, files for bankruptcy, or undergoes liquidation, resulting in termination of this agreement.
Definition of "Insolvency Event" in intellectual property licenses
This definition links "Insolvency Event" to termination rights.
"Insolvency Event" includes any event where the licensee becomes insolvent, initiates bankruptcy proceedings, or ceases operations, triggering termination of this license agreement.
Definition of "Insolvency Event" in construction contracts
This definition ties "Insolvency Event" to project disruptions.
"Insolvency Event" refers to any situation where a contractor or subcontractor is unable to continue work due to insolvency, leading to termination or reassignment of the contract.
Definition of "Insolvency Event" in joint venture agreements
This definition connects "Insolvency Event" to partner exits.
"Insolvency Event" means any occurrence where a joint venture partner files for bankruptcy, becomes subject to insolvency proceedings, or liquidates its assets.
Definition of "Insolvency Event" in employment contracts
This definition links "Insolvency Event" to redundancy.
"Insolvency Event" includes any event where the employer is declared bankrupt, undergoes liquidation, or ceases operations, leading to redundancy or termination of employees.
Definition of "Insolvency Event" in bond indentures
This definition ties "Insolvency Event" to bondholder rights.
"Insolvency Event" refers to any event where the issuer defaults on bond payments due to insolvency, bankruptcy, or financial distress.
Definition of "Insolvency Event" in guarantees
This definition connects "Insolvency Event" to guarantor obligations.
"Insolvency Event" means any occurrence where the guarantor becomes bankrupt or insolvent, impacting their ability to fulfill guarantee obligations.
Definition of "Insolvency Event" in shareholder buy-sell agreements
This definition links "Insolvency Event" to share transfers.
"Insolvency Event" refers to any event where a shareholder undergoes bankruptcy or insolvency proceedings, triggering mandatory transfer or buyback of their shares.
Definition of "Insolvency Event" in financial covenants
This definition ties "Insolvency Event" to compliance breaches.
"Insolvency Event" includes any situation where a party breaches financial covenants due to insolvency, resulting in default or termination rights for the other party.
Definition of "Insolvency Event" in energy supply agreements
This definition connects "Insolvency Event" to service continuity.
"Insolvency Event" means any event where a supplier or buyer becomes insolvent, impacting the continuity of energy supply or payment obligations under this agreement.
Definition of "Insolvency Event" in asset purchase agreements
This definition links "Insolvency Event" to asset sales.
"Insolvency Event" refers to any situation where a party undergoes bankruptcy or liquidation, leading to the sale or transfer of assets to satisfy creditors.
Definition of "Insolvency Event" in mergers and acquisitions agreements
This definition ties "Insolvency Event" to transactional risks.
"Insolvency Event" includes any occurrence where a party to the transaction files for bankruptcy, is placed under administration, or becomes insolvent, affecting the completion of the deal.
Definition of "Insolvency Event" in retail agreements
This definition connects "Insolvency Event" to business continuity.
"Insolvency Event" means any event where a retailer files for insolvency, appoints a liquidator, or ceases operations, impacting the agreement’s obligations.
Definition of "Insolvency Event" in agricultural agreements
This definition links "Insolvency Event" to farming operations.
"Insolvency Event" refers to any situation where a farmer or agribusiness undergoes bankruptcy, liquidation, or similar financial distress, impacting contractual obligations.
Definition of "Insolvency Event" in shipping contracts
This definition ties "Insolvency Event" to operational disruptions.
"Insolvency Event" includes any event where a shipping company files for bankruptcy, is placed under receivership, or ceases operations, impacting the shipping contract.
Definition of "Insolvency Event" in real estate agreements
This definition connects "Insolvency Event" to landlord or tenant defaults.
"Insolvency Event" means any occurrence where a landlord or tenant is declared insolvent, files for bankruptcy, or undergoes liquidation, impacting their obligations under the lease agreement.
Definition of "Insolvency Event" in financial services agreements
This definition ties "Insolvency Event" to financial industry obligations.
"Insolvency Event" means any occurrence where a financial institution is declared insolvent, subject to regulatory intervention, or ceases operations due to financial instability.
Definition of "Insolvency Event" in cross-border contracts
This definition connects "Insolvency Event" to international transactions.
"Insolvency Event" refers to any event where a party operating in multiple jurisdictions is declared insolvent, undergoes liquidation, or files for bankruptcy in any relevant territory.
Definition of "Insolvency Event" in licensing agreements
This definition links "Insolvency Event" to intellectual property contracts.
"Insolvency Event" includes any occurrence where the licensee or licensor is declared insolvent, files for bankruptcy, or ceases operations, impacting the license's validity.
Definition of "Insolvency Event" in project finance agreements
This definition ties "Insolvency Event" to infrastructure projects.
"Insolvency Event" means any event where a project participant becomes insolvent, leading to the inability to fulfill obligations under the project finance agreement.
Definition of "Insolvency Event" in energy purchase agreements
This definition connects "Insolvency Event" to energy supply continuity.
"Insolvency Event" refers to any situation where an energy producer or buyer becomes bankrupt, insolvent, or subject to liquidation, affecting the continuity of the agreement.
Definition of "Insolvency Event" in private equity agreements
This definition links "Insolvency Event" to portfolio management.
"Insolvency Event" includes any event where a portfolio company in which the fund holds equity undergoes bankruptcy or insolvency proceedings.
Definition of "Insolvency Event" in technology service agreements
This definition ties "Insolvency Event" to service providers.
"Insolvency Event" means any occurrence where a technology provider becomes insolvent, ceases operations, or is placed under administration, impacting the service agreement.
Definition of "Insolvency Event" in surety bond agreements
This definition connects "Insolvency Event" to guarantor obligations.
"Insolvency Event" refers to any event where the principal or guarantor under a surety bond is declared insolvent, triggering the bond’s enforcement.
Definition of "Insolvency Event" in telecom agreements
This definition links "Insolvency Event" to service continuity.
"Insolvency Event" includes any occurrence where a telecommunications provider files for bankruptcy, is placed under receivership, or ceases operations.
Definition of "Insolvency Event" in hospitality agreements
This definition ties "Insolvency Event" to operational disruptions.
"Insolvency Event" refers to any event where a hotel operator or service provider is declared insolvent, impacting its ability to deliver contracted services.
Definition of "Insolvency Event" in environmental compliance agreements
This definition connects "Insolvency Event" to regulatory requirements.
"Insolvency Event" means any occurrence where a party responsible for environmental compliance becomes bankrupt or insolvent, impacting its ability to meet obligations.
Definition of "Insolvency Event" in aviation leasing agreements
This definition links "Insolvency Event" to aircraft operators.
"Insolvency Event" includes any event where an aircraft lessee or operator is declared insolvent, ceases operations, or defaults on lease payments.
Definition of "Insolvency Event" in fund management agreements
This definition ties "Insolvency Event" to fiduciary obligations.
"Insolvency Event" refers to any situation where the fund manager or a key party to the fund is declared insolvent or unable to meet fiduciary obligations.
Definition of "Insolvency Event" in freight and logistics agreements
This definition connects "Insolvency Event" to supply chain stability.
"Insolvency Event" means any event where a logistics provider or customer becomes insolvent, affecting the continuity of freight and logistics services.
Definition of "Insolvency Event" in renewable energy projects
This definition links "Insolvency Event" to project viability.
"Insolvency Event" includes any situation where a developer, operator, or investor in a renewable energy project undergoes bankruptcy or insolvency proceedings.
Definition of "Insolvency Event" in gaming and licensing agreements
This definition ties "Insolvency Event" to license continuity.
"Insolvency Event" refers to any occurrence where a gaming operator or licensee is declared insolvent or subject to liquidation, impacting the agreement’s enforceability.
Definition of "Insolvency Event" in maritime shipping contracts
This definition connects "Insolvency Event" to vessel operations.
"Insolvency Event" means any event where a shipping company or vessel operator is declared insolvent, ceases operations, or defaults on obligations under the shipping contract.
Definition of "Insolvency Event" in investment banking agreements
This definition links "Insolvency Event" to underwriting responsibilities.
"Insolvency Event" includes any situation where an investment bank or underwriting party becomes bankrupt, insolvent, or unable to fulfill its obligations under the agreement.
Definition of "Insolvency Event" in international trade agreements
This definition ties "Insolvency Event" to cross-border transactions.
"Insolvency Event" refers to any occurrence where a trading partner or entity becomes insolvent, impacting its ability to meet cross-border obligations.
Definition of "Insolvency Event" in pension fund agreements
This definition connects "Insolvency Event" to benefit payouts.
"Insolvency Event" means any event where a pension fund or employer becomes insolvent, affecting the payout of benefits to fund participants.
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.