Common use of ASSIGNMENT AND INSOLVENCY Clause in Contracts

ASSIGNMENT AND INSOLVENCY. (a) The Vendor shall not assign, transfer, pledge or make other disposition of this Purchase Order or any part thereof, or any of the Vendor's rights, claims or obligations under this Purchase Order except with the prior written consent of WHO. (b) Should the Vendor be adjudicated bankrupt, or be liquidated or become insolvent, or should the Vendor make an assignment for the benefit of its creditors, or should a Receiver be appointed on account of the insolvency of the Vendor, WHO may, without prejudice to any other right or remedy it may have under these General Terms and Conditions, terminate this Purchase Order forthwith. The Vendor shall immediately inform WHO of the occurrence of any of the above events.

ASSIGNMENT AND INSOLVENCY. (a) The Vendor shall not assign, transfer, pledge or make other disposition of this Purchase Order Contract or any part thereof, or any of the Vendor's rights, claims or obligations under this Purchase Order Contract except with the prior written consent of the WHO. (b) Should the Vendor be adjudicated adjudged bankrupt, or be liquidated or become insolvent, or should the Vendor make an assignment for the benefit of its creditors, or should a Receiver be appointed on account of the insolvency of the Vendor, the WHO may, without prejudice to any other right or remedy it may have under the terms of these General Terms and Conditionsconditions, terminate this Purchase Order Contract forthwith. The Vendor shall immediately inform the WHO of the occurrence of any of the above events.