Bankruptcy or Cessation of Business. Upon the occurrence of any of the following events with regard to the other party: (a) the making of a general assignment for the benefit of creditors; (b) the filing of a voluntary petition or the commencement of any proceeding by either party for any relief under any bankruptcy or insolvency laws, or any laws relating to the relief of debtors, readjustment of indebtedness, reorganization, composition or extension; (c) the filing of any involuntary petition or the commencement of any proceeding by or against either party for any relief under any bankruptcy or insolvency laws, or any laws relating to the relief of debtors, readjustment of indebtedness, reorganization, composition or extension, which such petition or proceeding is not dismissed within sixty (60) days of the date on which it is filed or commenced; or (d) suspension of the transaction of the usual business of either party for a period in excess of sixty (60) days.
Bankruptcy or Cessation of Business. Subject to applicable law, this Agreement shall terminate automatically upon either Party’s cessation of business, election to dissolve, dissolution, insolvency, failure in business, commission of an act of bankruptcy, general assignment for the benefit of creditors, any levy, garnishment, attachment or foreclosure, or the enforcement of any of the rights of a secured creditor of DEALER or DIRECTV or the filing of any petition in bankruptcy or for relief under the provisions of the bankruptcy laws. The Parties agree and acknowledge that upon filing of relief under the provision of the bankruptcy laws, DEALER is and will be unable to perform the obligations under this Agreement. Accordingly, notwithstanding any protection afforded under applicable bankruptcy laws, DEALER agrees, accepts and acknowledges that DIRECTV may seek relief from automatic stay or otherwise, and upon lifting of such stay, DIRECTV shall be entitled to immediate termination of this Agreement.
Bankruptcy or Cessation of Business. This Agreement shall be terminated immediately at Nextel's or Developer's discretion, upon the other party's cessation of business, election to dissolve, dissolution, insolvency, failure in business, commission of an act of bankruptcy, receivership, general assignment for the benefit of creditors, or filing of any petition in bankruptcy or for relief under the provisions of the bankruptcy laws, if such petition is not dismissed within 60 days thereafter.
Bankruptcy or Cessation of Business. This Agreement shall be terminated automatically and immediately upon Distributor's cessation of business, election to dissolve, dissolution, insolvency, failure in business, commission of an act of bankruptcy, general assignment for the benefit of creditors, or filing of any petition in bankruptcy or relief under the provisions of the bankruptcy laws.
Bankruptcy or Cessation of Business. In the event Synthonics enters into proceedings relating to bankruptcy, whether voluntary or involuntary, Synthonics agrees to furnish, by certified mail, written notification of the bankruptcy to the Contractor. This notification shall be provided within five (5) days of the initiation of the proceedings relating to bankruptcy filings. This notification shall include the date on which the bankruptcy petition was filed, the name and location of the court where the petition was filed. This obligation remains in effect until final payment is made under this Agreement. Upon receipt of such notice, and subject to such approvals as may be required by the bankruptcy court and/or trustee in bankruptcy, Contractor shall have the first and exclusive right to purchase all or part of the Product being developed by Synthonics for the Contractor. If Contractor chooses not to purchase the in-progress development of the Product, Synthonics may dispose of the in-progress development of the Product consistent with the terms and conditions of any arrangement ordered by the court and/or trustee. The voluntary or involuntary filing of bankruptcy proceedings by Synthonics shall be deemed a material breach of this Agreement.
Bankruptcy or Cessation of Business. Each party shall have the right, but not the obligation, to terminate this Agreement at any time upon either party's cessation of business, loss of use of the Factory, election to dissolve, dissolution, insolvency, failure in business, commission of an act of bankruptcy, general assignment for the benefit of creditors, or the filing of any petition in bankruptcy or for relief under the provisions of the bankruptcy laws.
Bankruptcy or Cessation of Business. This Agreement shall terminate upon the commencement of a voluntary or involuntary case or other proceeding by or against a Party seeking liquidation, reorganization or other relief under any bankruptcy, insolvency or other similar law now or hereafter in effect, which in the case of an involuntary proceeding is not stayed or lifted within thirty (30) days; the application for or consent to the appointment of a receiver, trustee, liquidator or custodian by a Party for itself or of all or a substantial part of its property; the making by a Party of a general assignment for the benefit of any of its creditors; or the taking by a Party of any action for the purpose of effecting any of the foregoing
Bankruptcy or Cessation of Business. Subject to applicable law, this Agreement shall terminate automatically upon Nucentrix's cessation of business, election to dissolve, dissolution, insolvency, failure in business, commission of an act of bankruptcy, general assignment for the benefit of creditors, any levy, attachment or foreclosure, or the enforcement of any of the rights of a secured creditor of Nucentrix or the filing of any petition in bankruptcy or for relief under the provisions of the bankruptcy laws.
Bankruptcy or Cessation of Business. This Agreement shall be terminated immediately at Southern LINC or @Road's discretion, upon the other party's cessation of business, election to dissolve, dissolution, insolvency, commission of an act of bankruptcy, receivership, general assignment for the benefit of creditors, or filing of any petition in bankruptcy or for relief under the provisions of the bankruptcy laws, if such petition is not dismissed ninety (90) days thereafter.
Bankruptcy or Cessation of Business. Either party may terminate this Agreement immediately upon the occurrence of any of the following events with regard to the other party:
(a) the making of a general assignment for the benefit of creditors;
(b) the filing of a voluntary petition or the commencement of any proceeding by either party for any relief under any bankruptcy or insolvency laws, or any laws relating to the relief of debtors, readjustment of indebtedness, reorganization, composition or extension;
(c) the filing of any involuntary petition or the commencement of any proceeding by or against either party for any relief under any bankruptcy or insolvency laws, or any laws relating to the relief of debtors, readjustment of indebtedness, reorganization, composition or extension, which such petition or proceeding is not dismissed within sixty (60) days of the date on which it is filed or commenced; or
(d) suspension of the transaction of the usual business of either party for a period in excess of sixty (60) days;
