Common use of By Advisor Clause in Contracts

By Advisor. (1) If the Company breaches this Agreement or fails to make payments or provide information and documents required hereunder; or, (2) If the Company ceases business or sells a controlling interest to a third party, or agrees to a consolidation or merger of itself with or into another corporation, or enters into such a transaction outside of the scope of this Agreement, or sells substantially all of its assets to another corporation, entity or individual outside the scope of this Agreement; or, (3) If the Company subsequent to the execution hereof has a Receiver appointed for its business or assets, or otherwise becomes insolvent or unable to timely satisfy its obligations in the ordinary course of its business; or (4) If the Company subsequent to the execution hereof institutes, makes a general assignment for the benefit of creditors, has instituted against it any bankruptcy proceeding for reorganization or rearrangement of its financial affairs, files a petition in a court of bankruptcy, or is adjudicated a bankrupt; or (5) If any of the disclosures made herein or subsequent hereto by the Company to Advisor are determined to be materially false or misleading. In the event either party elects to terminate for cause or this Agreement is terminated prior to the expiration of the Initial Term or if this Agreement is terminated by mutual written agreement, the Company shall be responsible to pay Advisor for unreimbursed expenses due hereunder.

By Advisor. (1) If the Company breaches this Agreement or fails to make any payments or provide information and or documents required hereunder; or, (2) If the Company ceases business or sells a controlling interest to a third party, or agrees to a consolidation or merger of itself with or into another corporation, or enters into such a transaction outside of the scope of this Agreement, or sells substantially all of its assets to another corporation, entity or individual outside of the scope of this Agreement; or, (3) If the Company subsequent to the execution hereof has a Receiver receiver appointed for its business or assets, or otherwise becomes insolvent or unable to timely satisfy its obligations in the ordinary course of its business; or (4) If the Company subsequent to the execution hereof institutes, makes a general assignment for the benefit of creditors, has instituted against it any bankruptcy proceeding for reorganization or rearrangement of its financial affairs, files a petition in a court of bankruptcy, or is adjudicated a bankrupt; or, (5) If any of the disclosures made herein or subsequent hereto by the Company to Advisor are determined to be materially false or misleading. In the event either party elects to terminate for cause or this Agreement is terminated prior to the expiration of the Initial Term or if this Agreement is terminated by mutual written agreement, the Company shall be responsible to pay Advisor for unreimbursed expenses due hereunder. In the event the Company terminates this Agreement pursuant to subparagraphs A(1) or (a)(2), Advisor shall provide the Company with a full accounting of all costs and expenses and reimburse the Company during the Initial Term for $150,000 less the costs and expenses of Advisor and during the Additional Term for $100,000 less costs and expenses.

By Advisor. (1) If the Company breaches this Agreement or fails to make any payments or provide information and or documents required hereunder; or, (2) If the Company ceases business or sells a controlling interest to a third party, or agrees to a consolidation or merger of itself with or into another corporation, or enters into such a transaction outside of the scope of this Agreement, or sells substantially all of its assets to another corporation, entity or individual outside the scope of this Agreement; or,initials _______ _______ (3) If the Company subsequent to the execution hereof has a Receiver receiver appointed for its business or assets, or otherwise becomes insolvent or unable to timely satisfy its obligations in the ordinary course of its business; or (4) If the Company subsequent to the execution hereof institutes, makes a general assignment for the benefit of creditors, has instituted against it any bankruptcy proceeding for reorganization or rearrangement of its financial affairs, files a petition in a court of bankruptcy, or is adjudicated a bankrupt; or (5) If any of the disclosures made herein or subsequent hereto by the Company to Advisor are determined to be materially false or misleading. In the event either party elects to terminate for cause or this Agreement is terminated prior to the expiration of the Initial Term or if this Agreement is terminated by mutual written agreement, the Company shall be responsible to pay Advisor for unreimbursed expenses due hereunder.

By Advisor. (1) If the Company breaches this Agreement or fails to make any payments or provide information and or documents required hereunder; or, (2) If the Company ceases business or sells a controlling interest to a third party, or agrees to a consolidation or merger of itself with or into another corporation, or enters into such a transaction outside of the scope of this Agreement, or sells substantially all of its assets to another corporation, entity or individual outside of the scope of this Agreement; or, (3) If the Company subsequent to the execution hereof has a Receiver receiver appointed for its business or assets, or otherwise becomes insolvent or unable to timely satisfy its obligations in the ordinary course of its business; or (4) If the Company subsequent to the execution hereof institutes, makes a general assignment for the benefit of creditors, has instituted against it any bankruptcy proceeding for reorganization or rearrangement of its financial affairs, files a petition in a court of bankruptcy, or is adjudicated a bankrupt; or, (5) If any of the disclosures made herein or subsequent hereto by the Company to Advisor are determined to be materially false or misleading. In the event either party elects to terminate for cause or this Agreement is terminated prior to the expiration of the Initial Term or if this Agreement is terminated by mutual written agreement, the Company shall be responsible to pay Advisor for unreimbursed expenses due hereunder. In the event the Company terminates this Agreement pursuant to subparagraphs A(1) or (a)(2), Advisor shall provide the Company with a full accounting of all costs and expenses and reimburse the Company during the Initial Term for $350,000 less the costs and expenses of Advisor and during the Additional Term for $337,500 less costs and expenses.

By Advisor. (1) If the Company breaches this Agreement or fails to make any payments or provide information and or documents required hereunder; or, (2) If the Company ceases business or sells a controlling interest to a third party, or agrees to a consolidation or merger of itself with or l into another corporation, or enters into such a transaction outside of the scope of this Agreement, or sells substantially all of f its assets to another corporation, entity or individual outside the scope of this Agreement; or, (3) If the Company subsequent to the execution hereof has a Receiver receiver appointed for its business or assets, or otherwise becomes insolvent or unable to timely satisfy its obligations in the ordinary course of its business; or (4) If the Company subsequent to the execution hereof institutes, makes a general assignment for the benefit of creditorscreditor, has instituted against it any bankruptcy proceeding for reorganization or rearrangement of its financial affairs, files a petition in a court of bankruptcy, or is adjudicated a bankrupt; or (5) If any of the disclosures made herein or subsequent hereto by the Company to Advisor are determined to be materially false or misleading. misleading In the event even either party elects to terminate for cause or this Agreement is terminated prior to the expiration of the Initial Term or of if this Agreement is terminated by mutual written agreement, the Company shall be responsible to pay Advisor for unreimbursed expenses due hereunder.