Common use of Corporation’s Right to Terminate Clause in Contracts

Corporation’s Right to Terminate. This Agreement may be terminated (i) by Corporation with or without cause upon thirty days written notice and without liability for any damages resulting therefrom, (ii) if either Party breaches this Agreement, and has failed to cure such breach within thirty days after receiving written notice from the non-breaching Party, provided, however, that if the breach is of such a nature that it cannot be cured within such thirty day period, the breaching Party shall be allowed a reasonable time within which to cure, provided that the breaching Party gives notice to the non- breaching Party within such thirty day period of its intention to cure and the manner in which it intends to cure, or (iii) immediately if a Party becomes insolvent, a Party has a proceeding under the federal or State Bankruptcy Act, either voluntarily or involuntarily, or a Party has a receiver appointed.