Common use of BANKRUPTCY AND DEFAULT Clause in Contracts

BANKRUPTCY AND DEFAULT. 16.1 If Party B dose not perform the production and distribution of the agreement products within two months after the agreement went into force, Party A could inform Party B of terminating the agreement through written notice. 16.2 If Party B entered into the bankruptcy proceedings or could not perform normal operation, the agreement shall automatically expire. Party B would have no right to continue to use the related “trademark”, “name” and the company name without the written permission from Party A after the agreement terminated. Party B also could not sell and manage the agreement products as well as the packing materials.

BANKRUPTCY AND DEFAULT. 16.1 If Party B dose does not perform the production and distribution of the agreement products within two months after the agreement went into force, Party A could inform Party B of terminating the agreement through written notice. 16.2 If Party B entered into the bankruptcy proceedings or could not perform normal operation, the agreement shall automatically expire. Party B would have no right to continue to use the related “trademark”, “name” and the company name without the written permission from Party A after the agreement terminated. Party B also could not sell and manage the agreement products as well as the packing materials.