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Post time 2004-9-6 15:47:50 |Display all floors
(ii) If EI is insolvent, unable to meet its debts as they mature, files a petition or answer consenting to or acquiescing in a petition against it in bankruptcy or under any chapter of the Bankruptcy Reform Act of 1978 or any   similar law for the relief of debtors, federal or state, whether now existing or  hereafter enacted,  or suffers such a petition to be filed against it which is not  vacated  or stayed within sixty (60) days, has a receiver appointed of  execution  levied upon all or a material part of its business or assets, makes any   arrangement with its creditors generally, goes into liquidation or dissolution, or  fails for any other reason to function as a going business.

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