Event of Insolvency

Event of Insolvency means, with respect to a person:
(i) An admission of insolvency, the application by the person for the appointment of a trustee, receiver, rehabilitator, or similar officer for all or substantially all of its assets, a general assignment for the benefit of creditors, the filing by the person of a voluntary petition in bankruptcy or application for reorganization or an arrangement with creditors; or
(ii) The institution of similar proceedings by another person which proceedings are not contested by the person; or
(iii) The institution of similar proceedings by a government agency responsible for regulating the activities of the person, whether or not contested by the person.


17 CFR § 270.5b-3

Scoping language

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