Insolvency Event , In
respect of a Participant: (a) if that Participant has any distress or execution levied or
enforced on any of its assets which is not paid out within
7 days of it being levied
(b) if that Participant calls a meeting for the purpose of
passing a resolution to wind it up, or such a resolution is
passed, save in respect of such resolution being
proposed for the purposes of a bona fide company
reorganization
(c) if that Participant presents, or has presented, a petition
for a winding up order
(d) an application to appoint an administrator is made in
respect of that Participant or a notice of intention to
appoint an administrator is filed in respect of that
Participant
(e) any other steps are taken by that Participant or any other
person to appoint an administrator over that Participant
(f) if that Participant has an administrator, administrative
receiver, or receiver appointed over all or any part of its
business, undertaking, property or assets
(g) if that Participant takes any steps in connection with
proposing a company voluntary arrangement or a
company voluntary arrangement is passed in relation to
the arrangement
(h) If that Participant ceases, or appears in the reasonable
opinion of NABIDH Operator likely or is threatening to
cease to trade
(i) If that Participant stops or suspends making payments
(whether of principal or interest) with respect to all or any
class of its debts or announces an intention to do so or
that Participant suspends or ceases or threatens to
suspend or cease to carry on its business; and/or
(j) If that Participant suffers or undergoes any procedure
analogous to any of those specified above or any other
procedure available in the country in which that Party is
constituted, established or domiciled against or to an
insolvent debtor or available to the creditors of such a
debtor.