“
Act of Insolvency
” can be defined differently in different contracts. We have crowd-sourced different ways of defining the same term, so that you can find and choose the right definition for your needs.
Below are all the legal and contractual definitions for the term “
Act of Insolvency
" found within legal contracts contributed to The Genie Community.
All those below are used by lawyers, in-house legal counsel, startups and business owners alike.
Note: These definitions may differ between geographies, company size and contract category.
any of the following:the taking of any step in connection with any voluntary arrangement or any other compromise or arrangement for the benefit of any creditors of the Licensee;the making of an application for an administration order or the making of an administration order in relation to the Licensee;the giving of any notice of intention to appoint an administrator, or the filing at court of the prescribed documents in connection with the appointment of an administrator, or the appointment of an administrator, in relation to the Licensee;the appointment of a receiver or manager or an administrative receiver in relation to any property or income of the Licensee;the commencement of a voluntary winding-up in respect of the Licensee, except a winding-up for the purpose of amalgamation or reconstruction of a solvent company in respect of which a statutory declaration of solvency has been filed with the Registrar of Companies;the making of a petition for a winding-up order or a winding-up order in respect of the Licensee;the striking-off of the Licensee from the Register of Companies or the making of an application for the Licensee to be struck-off;the Licensee otherwise ceasing to exist; orthe presentation of a petition for a bankruptcy order or the making of a bankruptcy order against the Licensee.The paragraphs above shall apply in relation to a partnership or limited partnership (as defined in the Partnership Act 1890 and the Limited Partnerships Act 1907 respectively) subject to the modifications referred to in the Insolvent Partnerships Order 1994 (SI 1994/2421) (as amended), and a limited liability partnership (as defined in the Limited Liability Partnerships Act 2000) subject to the modifications referred to in the Limited Liability Partnerships Regulations 2001 (SI 2001/1090) (as amended).Act of Insolvency includes any analogous proceedings or events that may be taken pursuant to the legislation of another jurisdiction in relation to a licensee incorporated or domiciled in such relevant jurisdiction.
This document is taken from the gov.uk website, and comes with the following explanation: where a new mutual is to make use of property belonging to the Local Authority, the latter may transfer the freehold under the Transfer Agreement, or may allow the mutual to occupy the property under a lease or a licence.
This template assumes that the Local Authority will provide two properties for use by the mutual, one under a Lease and the other under a Licence to Occupy. The decision on whether a Lease or Licence to Occupy is appropriate needs to be considered on a case-by-case basis with legal advice.
This document is a template Licence to Occupy to be granted by the Local Authority to the mutual. This form of agreement is only appropriate where the mutual will not have exclusive possession of the property.
It contains the necessary provisions to protect both owner (Local Authority) and occupier (mutual organisation).
This template has been prepared to provide general guidance and information to organisations considering or undertaking mutualisation. It is intended to be a starting point only and should not be considered a finalised legal document or as constituting legal advice. It is the responsibility of your organisation to seek legal advice and to ensure that the document is reviewed and signed off by your legal team.
The template contains a breakdown of drafting assumptions which highlight areas where additional drafting and legal advice may be required. Additional drafting is not limited to these areas and you should seek further legal guidance where you deem necessary.
Whilst we have endeavoured to ensure that the information in the template is correct, no warranty, express or implied, is given as to the templates accuracy, timeliness, completeness or fitness for a particular purpose and we do not accept any liability for errors or omissions. Neither the Department for Digital, Culture, Media and Sport, nor Bates Wells Braithwaite shall be liable to you or anyone else for any decisions made or action taken in reliance on this document, or for any damage arising from its use.
any analogous proceedings or events that may be taken pursuant to the legislation of another jurisdiction in relation to a tenant or guarantor incorporated or domiciled in such relevant jurisdiction.
This template has been prepared to provide general guidance and information to organisations considering or undertaking mutualisation. Use this agreement to protect both landlord (Local Authority) and tenant (mutual organisation or cooperatives). Examples of provisions covered are: Obligations on the tenant to keep the property in repair, obligations on the landlord to provide certain building services for the Property (e.g. to repair the structure of the building), rights for the landlord to end the tenancy in the case of the tenant's breach, rights for the tenant to use the property for the provision of services.
any analogous proceedings or events that may be taken pursuant to the legislation of another jurisdiction in relation to a licensee incorporated or domiciled in such relevant jurisdiction.
This document is taken from the gov.uk website, and comes with the following explanation: where a new mutual is to make use of property belonging to the Local Authority, the latter may transfer the freehold under the Transfer Agreement, or may allow the mutual to occupy the property under a lease or a licence.
This template assumes that the Local Authority will provide two properties for use by the mutual, one under a Lease and the other under a Licence to Occupy. The decision on whether a Lease or Licence to Occupy is appropriate needs to be considered on a case-by-case basis with legal advice.
This document is a template Licence to Occupy to be granted by the Local Authority to the mutual. This form of agreement is only appropriate where the mutual will not have exclusive possession of the property.
It contains the necessary provisions to protect both owner (Local Authority) and occupier (mutual organisation).
This template has been prepared to provide general guidance and information to organisations considering or undertaking mutualisation. It is intended to be a starting point only and should not be considered a finalised legal document or as constituting legal advice. It is the responsibility of your organisation to seek legal advice and to ensure that the document is reviewed and signed off by your legal team.
The template contains a breakdown of drafting assumptions which highlight areas where additional drafting and legal advice may be required. Additional drafting is not limited to these areas and you should seek further legal guidance where you deem necessary.
Whilst we have endeavoured to ensure that the information in the template is correct, no warranty, express or implied, is given as to the templates accuracy, timeliness, completeness or fitness for a particular purpose and we do not accept any liability for errors or omissions. Neither the Department for Digital, Culture, Media and Sport, nor Bates Wells Braithwaite shall be liable to you or anyone else for any decisions made or action taken in reliance on this document, or for any damage arising from its use.
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